Agreed, we don't want part payment in AA shares as they've already enjoyed a decent uplift and are unlikely to grow at anything like the rate that we potentially could.
I see that Ganfeng paid $391m, a bit more than a 'song' :-) I wonder what ballpark figure NvS has in mind to tempt him into a quick sale of our assets? Would it be worth a major risking say $200-300m on unproven assets, though in a promising area? I sometimes feel that after such slow progress in drilling and proving up the resources, his strategy may be to simply frustrate a potential buyer into making a tempting offer or else risk serious delays in getting the drilling campaign completed and the mine(s) started. They must surely be gagging to get on with it and have multiple drills turning?
@SeisNav - Good point about the options, there must be confidence there...
@CB (on twitter) I've always had my doubts about NvS as you have, it's just that I don't feel the need to constantly and pathalogically bang on about it every day. I'd rather give him the benefit of the doubt, hoping he will finally deliver on at least one of his promises.
Let's hope you're all right and this paves the way for a half decent deal in the near future, but I'm personally not overly confident as I feel that NvS has largely failed to deliver shareholder value on anything so far, Sturec, Casa, Kalaba - all disappointing. We are still at my initial entry point of 4-5 years ago. Let's see what the market makes of these latest developments next week. If the bullish posters across the boards are correct we should re-rate nicely.
How, in a case which was supposed to be without any merit whatsoever, can handing over the disputed lands be described as a settlement and not an outright loss? There appears to be a lot of positive spin being applied across the public boards that this will clear the way for a deal, but Kalaba was supposed to be income generating allowing us to tick over and continue drilling elsewhere, enabling us to approach any prospective deal from a position of strength. In the absence of commercially viable grades found anywhere else, will any major still be keen to offer an attractive deal get into bed with us?
"golden tickets" ......That's jinxed it.
Consider the cost/reward ratio that a major may enjoy by planting their shills to spread FUD on online chat boards. What does it cost them to pay CB in chinese takeaways or ella in exotic underwear or whatev, versus the savings of perhaps tens of millions of $$$ by lowering investor expectations on an eventual deal? I don't know what ella spouts as I filtered her a year ago but clearly she is having some influence on this board as she is often the only topic of conversation here. CB on twitter has long since lost his mojo and is boring and repetitive these days but still he persists. If they are not paid shills what earthly reason do these uninvested doubters have to spend half their lives forever seeking the oxygen of publicity?
I hope any AA offer is a straight cash one as we've already missed the 100% AA s/p uplift which we may have enjoyed had we done an earlier deal involving an element of AA equity. Probably speaking too soon as we have yet to find the grades and quantities that the majors are interested in, at which time I'd hope that dithering AA get firmly jostled out of the way by more generous parties.
For the sake of balance the end of the article says -
"Bank of America head of metals research Michael Widmer also said investments in battery metals markets by major miners will not rival spending and profits of established markets such as iron ore, where high margins are far easier to deliver.
"The reality is that for the big mining companies investment in smaller miners doesn't move the needle that much, but it's good to show that they are in the battery metals," he said.
Certainly gives the impression that they may not be as interested in small fry explorers as we'd like to think.
Martha why bother with a tiddler like UKOG when you have the likes of -
"The Bagger 288 was built for the job of removing overburden before coal mining at the Hambach surface mine in Germany. It can excavate 240,000 tons of coal[3] or 240,000 cubic metres of overburden daily[4] – the equivalent of a soccer field dug to 30 m (98 ft) deep. The coal produced in one day fills 2400 coal wagons."
I'm sure the posters here can chip in for a one way ticket for you to go and disrupt that environmental monstrosity. Why not chain yourself to one of the rotating buckets?
Not forgetting that titanium (from ilmenite) is a strategic metal. Of course we haven't even scoped out and JORCd much of our assets which is why we are still languishing. I've little doubt our assets will be worth 2p or more in time it's just that everything seems to take forever.
touting 2p by year end was quickly removed. Very wise. It's not totally impossible of course as long as all the ducks line up fantastically in our favour or after dewatering they discover a secret entrance to a huge cavern full of gold treasure (though guarded by a fire breathing dragon) :-)
No use ramping here, a lot of people got badly burned by St. Tropez and cronies hyping Alba up to over .55p prior to a subsequent 75% crash.
It's not GF's job to fluff up the s/p for the short term benefit of traders. He's there to grow the business organically through competent business strategy and mining exploration decisions, and to comply with any environmental issues encountered along the way.
I don't know what grades GWMO are expecting if and when they find the continuation of the gold bearing quartz vein but Alba's historical grades were around 17gms/tonne average, and they have found evidence of a widespread quartz vein system in the area. The jury is also out on whether GWMO will find commercially viable gold elsewhere on their licenses. So, gold wise I prefer Alba but should the copper quantities that were once hinted at existing under Sharktooth ever materialise, then GWMO will go to da moon. IMO...
This is what we need - https://m.youtube.com/watch?v=noimHb2S-dM&pp=QAFIAQ%3D%3D
I find it strangely comforting that a highly professional legal team is also well out of pocket having been stitched up just as we have been. Makes me feel much less of a dumbass...
Well, I never expected to be back below my average of c. 2.70p. Gotta say the doubters have been right so far. Can dithery Nick pull anything out of the hat for us as it's a long way to go until the rainy season ends?
Lovely copper grades but how much is there and if it is there in bulk could they ever get permission to dig it up in an area of outstanding natural beauty? Chasing gold in quartz veins seems a much more viable and environmentally sustainable venture.