Member Info for Jeremiah99

"Welsh gold is possibly the rarest in the world..." and it appears that George and the boys are intent on keep it that way. :-)

It would be good to have an article like that in the popular daily press, Daily Mail or similar. Auction is nicely timed as gold settles above $3000/oz.

The raw ore still only contained 1gm/tonne of gold which is pretty poor. The amount of gold in the concentrate is irrelevant.

Disappointing if we have to return to processing waste material when there was all this talk of occasional bonanza grades to be had in the mine.

I guess the reason the s/p hasn't plummeted is because our holdings in Groc presently underpin about 80% of our current Mcap

I'm surprised at the buying volumes and that the s/p hasn't plummeted...

There probably is gold still to be had in parallel or deeper seams but we don't seem to have the funds or expertise to extract it at the moment. Good news and a rerate at Groc may up our s/p enough to raise more without endangering the solvency of the company. Otherwise it would probably be prudent to look for a better funded partner or just sell the mine, IMO. BTW where are those 2-4ozs/tonne of gold in background ore, or was it all smoke and mirrors?

However, a few things seem to be prepping us for disappointment. Having to raise at rock bottom prices this close to the auction doesn't inspire confidence that plenty of gold is being found. Nor does them scrabbling around to find other projects elsewhere, which could be construed as an exercise in diverting attention. Also George saying that the mine could still be commercial at lower than historic average grades due to the welsh gold premium. So reading between the lines, I'm not as optimistic as I was before, though I hope I'm wrong and way off the mark...

I'd be more than happy if they deliver the historic average grade of 17gms/tonne for those several hundred tonnes of ore. If you think the average grades are going to be in the ounces in anywhere but

occasional sporadic locations then prepare to be disappointed.

As I understand it, if we're a private company we'd still be stakeholders owning shares, it's just that those shares would be more illiquid as they wouldn't be tradable on an open market. But I think such talk is premature for now.

I hope they start a bidding war for Amitsoq. C'mon Elon and Donny $100m (c. 30p/share) is just peanuts for you guys!

I'm guessing that the Europeans will include Groc on the list just to ensure they get first dibs ahead of Trump ;-)

Maybe we could do with a bigger mining company buying us out (assuming the gold is there) as so far there doesn't seem to be much evidence that these guys know how to get an income stream up and running to support shareholder value?

Promising but still the s/p remains as gloomy as those dark clouds overhanging the landscape. :-)

Well once they start showing us some gold the market might begin to attribute some value to the mine. Until then...

Yep, sounds like they were desperate for cash. A payday loan as they don't have enough to last till the coins are sold. Not good that they've wasted cash on other projects before ensuring a steady income from Clogau. Basic business strategy 101.

Https://m.youtube.com/watch?v=15x5fkBb1J4&pp=ygUVc3RvY2sgY29ycmVjdGlvbiAyMDI1

From around 10 mins in, one commentator points out that junior gold miners' stocks in particular haven't followed the rise in the spot price. So it's not just us in the doldrums. He thinks they will eventually catch up but I personally feel the opposite may occur and gold will retrace somewhat. An end to geopolitical instability in the Ukraine war, Trump's tariffs subduing international trade and a possible general stocks correction.

I'm not sure there will be a sudden overnight upwards gold revaluation in order to repair the Fed's balance sheet as has been mooted here and there recently, particularly if they ever do an audit at Fort Knox and find that much of the gold reserves ceased to exist decades ago. Russia and China have been buying gold for years so they would benefit disproportionately. Gold is priced on the Fed's books at just $42/oz. Even if they revalued gold to today's price it would value their reserves at around $1trillion, whereas the country's debt burden is c. $37 trillion (about $100k for every US citizen)

I'd like to know if some of the shareholder visitors to the mine are still trusting of the company and

still feeling optimistic about things?

You can see the s/p drop from c. 0.026p about a fortnight ago so presumably that was when the placing was agreed. So at the time the recipient was offered them at a 50% discount to the prevailing s/p. This company is being very dodgily run IMO, and it seems we are intentionally being steered off a cliff.

Pathetic. I'm starting to think that smug George needs to go. :-(