Member Info for Janiax

Sooo many....

But the Share price hasn't moved since 11:30...

For those that are interested, I looked back at the Share option RNS's when they were issued, and there are 2 options currently issued:

26th Jan 2017 - Issue of Share options
Great Western Mining (AIM: GWMO & ESM: 8GW) announces that it has issued a total of 24 million share options to Directors, in accordance with the rules of the Company's Share Option Plan 2014 as approved by shareholders on 17 July 2014.
The awards were approved by the Board on 26 January 2017 (the "Award Date").
The Exercise Price is Sterling 0.5 pence per share, representing a premium of 15% over the closing price on 25 January 2017. The options are for seven years and will vest 33.3% on the first, second and third anniversary of the grant of award. This is the first award of options that the Company has made under the 2014 scheme, and represents the total number of options outstanding to Directors.
Share options issued to Directors:
Brian Hall 4,000,000
David Fraser 8,000,000
Melvyn Quiller 6,000,000
Robert O'Connell 6,000,000

14th July 2017 - Issue of Share Options
Great Western Mining (AIM: GWMO & ESM: 8GW) announces that it has issued a total of 26 million share options to Directors and key management, in accordance with the rules of the Company's Share Option Plan 2014 as approved by shareholders on 17 July 2014.
The awards were approved by the Board on 12 July 2017 (the "Award Date").
The exercise price of the new options will be Sterling 1.6 pence per share, representing a premium of 17.7% over the closing price on 11 July 2017. The options are for seven years and will vest 33.3% on the first, second and third anniversary of the grant of award
Share Options issued to Directors:
Brian Hall 4,000,000
David Fraser 8,000,000
Melvyn Quiller 6,000,000
Robert O'Connell 7,000,000
Share Options issued to key management:
Project Geologist
Bartholomew Harvey 1,000,000

So they have exercised 8,000,000 of the first batch of options at 0.5p and there are still 16m at 0.5p and 26m at 1.6p that they can purchase later.

The fact that multiple directors have chosen to purchase part of their first Share options is a positive as they are now holding actual shares, and they are less able to sell than normal PI's.

When people look at companies they should try and be aware of outstanding options, and what value they are at.

All the options were issued at higher values than the share price was at the time, and although we had a reduction in share price this week, over the last year it has improved a lot and become more stable.

Lets see what the result bring.

Riseagain,

Lets clarify this.

Yes it is adding shares to the amount that make up the total shares available in the company.
Technically this can indeed be classed as "Issuing new shares".

But it is fundamentally different.

The placing for new shares, was a transaction for new shares being created and added to the market at 1.3p which has had the affect of bringing down the share price to just below the issue price to the Investors/market markers who got them in the placing.

Exercising Options is only similar in the way that new shares are added to the market.
BUT: These options were previously known about, and had been given to the directors as an option a long time ago.
I haven't looked back, but options like this usually have some stipulation on them, for example they can buy shares at 0.5p after a certain date, and before another expiration date. They are often issued at a price closer to the current price when they are issued (and don't forget that 18 months ago this share was below 0.5p a share)
They also tend to have a tied in clause that they can only be exercised if share price is above a certain value for a certain period of time.

My point I am making to Galaxy is that the value of these options at 0.5p has nothing to do with the current market value of 1.25p, and it is not the directors going, Oh lets buy some shares at half price, and making the decision this week to do so.

Galaxy is trying to spin it that they should have exercised options at a higher price, which is not how they work.

Wow Galaxy.. you really are showing your ignorance.

Exercising pre-existing options at a price which was agreed years ago, back when the share price was below 0.5p is not the same as issuing new shares.

So it looks like the directors are all loading up with their options.

Can't wait to see the drilling results and hopefully a new JORC over the next few weeks.

I'm still expecting this to rocket to at least 5p and potentially much much higher.

Eyeguy - "I too am all EARS"

So you admit, you are also earguy ...

:)

Why would he but them if they were about to announce there was nothing from the drills.

He can't have brought them knowing final results either though.

They must be awaiting confirmation, but he must have some idea that it is going to be great news.

Nice to see an account thats active less then a month take the time to deramp soo much...
22 post, over 5 companies, all refering to placings happening, or share price going down...

Go Away you C***

Would you be able to help in the ways that you wish to if you where made a Non-Executive director?

Or would you need to be a full director to progress the actions you want to tackle?

Is it just me or are the RNS's not showing on LSE yet...

I hate this site

Got excited when I saw that red dot...

just a transfer of shares though :)

Cheers Gunnar,

It's nice to have a board to chat on where a serious investor like Andrew is involved and is open with his views and thoughts, and plans.

Currently I think the only think keeping this from being 2-3p before results is lack of knowledge, its just not on people's radar.

I had a look at UKOG again, and they have over 200 posts today, and lots of action, but imo it seems a lot more risky. Just that they get newspaper articles and everyone jumps in...

I'm glad not to have the heard here yet, as it might give a change for the re-rate to actually hold if the MM's open up 3-4x higher and people still buy from there. Less of the early in at 2p and out at 3p for there quick buck.

I've done the same Andrew,

Can't justify putting a sell at 5p, or 10p, if the Sharktooth results come out and they open at 40p +

I'm wondering how the market would react to such large numbers on Sharktooth results though, as it could mean a re-rate of more than I've ever seen anywhere.

It might help to have M2 good results and a steady climb for a week or 2, before anything like ST coming in

Thanks Andrew,

I'm glad to see that you follow a similar calculation process, although $100 per tonne of copper is a lot lower than my 5% estimate for the in ground value :)

It feels weird that looking at the current estimates of 0.5% copper and how much that actually could be in the Vast amount of rock it is in could mean such high amounts.

And that we have to really use low end estimates and low value of the in ground resources for the estimated Market caps to come out to multiples of the current value.

If M2, M4 and Sharktooth are bigger than expected, or higher Copper %, or easier to extract, this share should be worth a silly amount more then it currently is. and I don't mean 10, 20 or 30 times the current SP. If ST has 2-3million tonnes of copper, we could be seeing very high double figures.

Its very hard to look at the potential here, and not sound like you are just ramping with sky high estimates.

The only thing that I can see which will mean this company isn't worth 10p+ on results, is if it is found that the grade of copper is too low to recover successfully. but I feel that the chance of that is not very likely.

*DISCLAIMER* I know these estimates are from an out of date, and retracted JORC, but when results are confirmed I believe that the actual copper in ground should be similar.
These are also Very ROUGH ESTIMATES

The share price after news will depend on the results from the drills.
But this is what I calculated last year based on the RNS dated 12th June 2017, (Figures updated for current Shares (592.67m) and Copper value [$6,700 from London Metal Exchange]).

M2 North Zone:
Indicated – 20,552 tonnes
Inferred – 68,643 tonnes
Total – 89,195 tonnes
89,195 tonnes at $6,700 is $597,606,500 or around £400m (if we use a conversion rate of nearly £1=$1.5, which is very conservative)
Understanding that the In ground value of this would be significantly lower, all depending on the cost of extracting the copper, lets say between 5% and 10% of the total value, this would give £20m to £40m market value of the company, or 6.749p per share.

Now the Sharktooth estimates is where in my opinion it Really could explode:
Estimated Copper grades 1.00 - 1.75% from total Tonnage of 87.1m to 116.1m rocks, resulting from estimated copper between 871,000 and 2,031,750 tonnes.
At the lower end of 871,000 tonnes of copper, this could be £3,900m of copper. If the in ground value of that is just 5% of total value, that’s £195m, which is the equivalent of 32.9p per share.

This could mean a value of nearly 40p per share from M2 and Sharktooth, at the low end, and if Sharktooth has higher grades then if could easily be worth much more.

I’m only in for 150,000 shares, but that’s because I’ve only been trading for a few years, and had some bad experiences already (anyone remember when MSMN floated…)
If I had the money behind me like Andrew does, I would be in for 10% minimum as well.

Andrew, I'd be interested on your views, and corrections to my Very Rough estimates.

I did some calculations last year, but can't view the post, as its no longer on the chat thread... seems they only keep a certain number historically. I recall the calculations being conservative based on the RNS Estimations, and being around 50-60p a share, Think my target was 20p though, as Aim being Aim never gets full value.

Cheers Johnsun. It appears my 2 small buys are on that trade list: 12/06/2018 10:39 68,923 1.44 and 12/06/2018 09:40 55,303 1.433 There appears to be a 1.2m sell there as well though :(

My 2 small buys haven't shown up in the list yet... Unless that's an LSE problem as usual

Managed to sell out another share, But Can't even get a quote for another �1k now ...

Well, can't seem to sell another share to get more in here, so moved a small amount of other funds around for a quick top up. only �800, and had to pay 1.433 ... but hopefully will make it back when this rockets to 2-3p. Don't like the wide spread though :(