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Two months this week since drilling commenced at Molopo and not a word from the company yet.
I thought Sean Wade mentioned a few weeks ago there would be an update soon.
Molopo is a big risk for the company, it is not cheap to diamond drill, it is also not one of our core assets. A negative result will be seen as a waste of funds and will have an impact on the share price, regardless of whether it was a core asset or not. Consolidation has hit the sp, let's hope Molopo delivers. At least the results won't be out for a month or two, it may even surprise us.
I may have missed it in an interview or rns, but were we ever told what the source of the "conductors" were at Molopo ? Was it mudstones, water etc. ?
I barely read the rns's anymore and rarely look at any interviews by SW or Oliver Friesen. The only thing I look at is the impact on the share price, that usually tells me all I need to know.
Personally I think Molopo is a no hoper. How was the geophysics so wrong? Or was it? Perhaps it was the interpretation that was way off? If so, where does that leave us?
More surveys will be needed at Molopo before drilling, how long will that take, how long will drilling take? Would it be better to cut our losses there and purchase more of GMET who will be drilling next year and seem to have a lot more potential?
Tati will require further drilling and possibly more surveys, don't expect much happening there any time soon.
Haneti is on hold, I would guess POW are looking to offload that too.
Silver Peak in Canada, too small a deposit, too remote, high altitude with a limited mining window. Get rid of it.
NBGC in Victoria Australia, jv with Andrew Bell, enough said.
The planned ipo's going nowhere, especially in the current markets.
Our biggest hope is GMET followed by a very slowly developing uranium portfolio.
I make no apologies for the pessimistic overview, it's the way I see things. I am beginning to agree that £10m market capital is way overpriced.
Unbelievable the way this company has gone this past year. We have over 2 billion shares in issue, no discovery on the horizon, a large staff and a rapidly depleting cash balance .
A further capital raise will see us drop to .3p range imo. I was buying at the current sp in June 2020 !
Good luck to all of us investors.
Rick Rule did not just invest in POW for the uranium aspect alone, judging by his recent interview of Sean Wade, it seems that Rick sees POW as a "merchant bank" model. He obviously likes some of the other projects in the POW portfolio, especially the ipo spin outs.
Hopefully Sean will have some exciting news for investors from his trip to Australia, two weeks is a long time to spend there !
Sol, let's hope that was a premonition you had!
With a new CEO, I was wondering how some of the various projects would be viewed. Would the new CEO regard some of them to be non core, sold, jv'd etc. Obviously, Tati is still regarded by SW as a viable prospect and worth pursuing. The update on Tati was very much overdue, however, SW's language was very upbeat in my opinion, in fact he seemed to be upbeat about all the ongoing work streams.
If he manages to negotiate a jv for Molopo I will be well impressed.
Also, we never heard any more about the uranium exploration in Togo, west Africa?
Sean Wade interview with proactive investors recorded yesterday. Apologies if already posted.
https://youtu.be/Ac5uHVWSd-M
Bonkers, with respect, the telegram group posts a lot of rubbish. It seems to be a constant stream of videos, cartoons and a running commentary on share buy and sells.
I agree there are some knowledgeable investors on there but to suggest there are no real investors on LSE is untrue.
Dissenting voices are not tolerated on the telegram group, it is like a safe space for the easily offended.
I think most pi's were not expecting much from molopo and to a certain degree this may have been priced in by the markets. The drilling campaign began with great optimism but you have to agree that since the new year, communications and the general vibe around molopo was not good. The longer this went on the worse it got.
As regards selling on molopo, it may be worth considering. How much more time and effort will go in to analysing the results and trying to negotiate a jv, which may or may not come to anything? Remember, this was our second time drilling the T1-6 target, even after further surveys over this target, we still got better assays when we "clipped" it with the first drillhole !
What we need fast is news on GMT listing , Tati and Athabasca exploration or assays from Victoria Goldfields. Good news from one of these will help put molopo behind us for the time being. Perhaps PJ's reference to "some meaty things" going on may bring some unexpected news , but after the past 4 months, I won't hold my breath.
I am surprised that the level of criticism has not been greater today.
Remember back to last summer when that now infamous image of the "molopo monster" landed on our screens? Such a big blue conductor, and we just clipped it with the previos drill.....well that was a pile of crap. Who put this together? How did they get it so wrong? The grades from the clipped hole were far better than the big blue molopo monster.
The modelling of t1-14 was way out, the conductor is much deeper...ffs who is responsible for this?
Four targets drilled, 8 months from start of drilling to results, dilution, thousands spent on drilling and what have we got to show for it all?
The decision mid campaign to release all results once all data had been collected and studied was another joke. The POW telegram group started a guessing game for the release date of molopo results! That's how bored investors became!
My confidence in POW's communications has taken a blow, that's just me and each to their own. Hopefully we will get good news from one of the other projects and soon. The only good bit of news today is that the sp was only down 5%, I genuinely thought we would be 15 to 20% down after those assays.
sol001, you asked who should we believe, the experts or the ones pretending to be experts?....well the geophysics at molopo turned out to be a load of tosh, the assays were terrible, the comms were non existent and even rampy at times etc.
Be careful, so called experts can lose you a lot of money.
I am not happy with the molopo results, who could be? But more importantly, I am not happy with the whole drilling campaign and the communications.
POW is bigger than any one project, however the hype and anticipation around molopo was huge for many investors. These results will cause further falls in the sp.
I just see molopo as now being a dormant project. Sean wade will have to commit more time to the other projects in the portfolio.
I will keep my investment in POW for now, hopefully we will get another ipo launched soon, we have been waiting almost a year for GMR!
Many pi's are not too happy and their patience is wearing thin.
Molopo is dead, forget about it, write it off. While we're at it, write off Haneti and Silver Peak also.
Molopo assays were terrible, worse even than the previous drill that had supposedly "clipped" the "molopo monster" ! As I suspected, there was never an NDA in place for Molopo. I would be surprised if they manage to negotiate any jv, and I'm not buying the "recent interest" line one bit either.
Which part of todays news was PJ referring to when he said something along the lines of "not wanting to sound rampy..." in a previous interview?
Sean Wade is putting a thin coat of gloss on poor results, that's his job, but I'm not buying the Molopo bull anymore. This project is dead, there is nothing there to find.
Tati assays are far better than today's pathetic results.
I am not blaming the POW team, they have no control over what's in the ground. But how could geophysics get it so wrong? Communications from the start of this drill campaign have been a disaster.
POW have other potentially company making projects. GMR listing or drill assays from Victoria Goldfields are probably the next most likely news to arrive.
Good luck all investors.
What is the benefit of being in a commodity super cycle if you don't have proven resources in your project portfolio? Sure, a rising tide lifts all boats but personally I don't think the effect will be felt in the junior resource sector for a while yet, next year perhaps?
I am disappointed with the latest drilling campaign at Molopo, very little information and then the late decision to release assays and survey results once interpretation was complete. Not good for the share price. I am still optimistic that Molopo will deliver mixed results, with 4 targets drilled there will inevitably be some good news to report.
In the short term, I think Molopo is the only project that can give the sp a serious boost. The ipo"s may give a temporary boost, Tati will take time to plan and drill etc. so results there are a while off yet. Unless there is an unexpected corporate transaction announced, Molopo seems to be our only short term hope.
I would bet that swampy was never invested , hence he could not sell out, we all know his type and agenda.
On the Telegram group, it is no better than here, and that's saying something. It seems to be an endless stream of commenting on sp movements, buys and dumps ! with the odd stupid GIF thrown in, a complete waste of time and effort. I am staying away from all social media channels from now on, at least until more substantial news is released by POW.
I agree with Aquaesulis01 regarding the potential results from Molopo targets.
T1-6 and T1-3 are definitely showing the most promise of a discovery with visible sulfides reported for both. T1-14 and T2-3 less so.
Information from drilling activities has been scant but we have received nothing at all from the superconductor target T1-14. We don't even know when drilling started or finished at this target. T1-14 stopped at 520m depth, that is all we know. I would have expected a greater depth as they expected to intersect the conductor at 400m.
Just my opinion but I do not think that POW have any NDA's in place. Gl all.
Some posters were speculating as to why 2400m was drilled at Molopo instead of the planned 2600m?
My guess is this, one planned hole was never drilled. Hole K1-6c, which was to be located over 800m from K1-6 was never drilled. They probably planned for an at least, 600m deep drill here as the mineralisation is dipping at a 30 degree angle, however a shallower up dip hole was drilled to 300m instead.
Holes drilled at the other locations varied in their depths, some a little deeper, others a little shallower than planned. This probably did not make up for the un-drilled metres at K1-6c.
Paul mentions the two month time frame that some investors are expecting until Molopo results and that this was a number just plucked out of the sky, but was he inferring that it could come a lot sooner or take a lot longer than that?
Good interview.
I am not invested here, I was considering taking a small investment here but have yet to do any research, probably won't invest now after today's RNS, but could I just ask anyone who knows, what is LC's annual salary from Katoro?
Hi Aquae, I am not concluding anything about T1-6 results. I understand the reason given by POW regarding the upgraded potential for a superconductor at T1-14, so why drill the shallower hole updip at T1-6 first? Why not go straight to T1-14?
The shallower hole was drilled to 300m depth approximately, it took time to move the drill, set up, test etc. I am guessing this process took maybe 2 weeks. From memory, the reason for this hole was to test for near surface mineralisation. My question is if T1-14 suddenly became the highest priority targets, then why drill the shallower hole?
I am not drawing conclusions about the results of T1-6 either way. POW and the geologists on site obviously have a lot more information and knowledge of proceedings. Perhaps they are waiting on the dhem before drilling the next hole at T1-6 to get the best possible result. Time will tell, I am hugely optimistic for success at both locations and I trust the POW team.
Agreed, lithium will be around, and in demand for a while yet, the green revolution hasn't even got going properly yet.
A new week starts with fresh hopes of a life changing rns from POW.
Paul was definitely excited about the scale of Tati in a recent interview. Are they planning another low cost rc drill campaign at Tati? Perhaps an early stage resource estimate?
I've been thinking about Molopo a lot lately, specifically the decision not to drill the second planned hole at t1-6 (800m away). If indications were not good from the first hole (500m away), then why waste time and money drilling a shallower hole updip? Also, if indications were not good, would it not have made more sense to go straight to the t1-14 superconductor drill?
If however, indications were good , then why not drill the planned hole (800m away) to test for extension and depth?
Perhaps they wanted time to do the down hole EM before drilling again. Whatever the outcome at t1-14, where will the next hole be, back to t1-6 or on to a new target at t1-3 or t2-3 ?
The t1-14 drill should be well advanced by now, hopefully some update from Paul this week.