Member Info for johnpwh

Ok thanks. So basically the 2 companies own broadly similar reserves.

Thanks for the reply.

1400 tick!

I have 2000 of these in my ISA so pretty happy to hold.

As I see it EMH and ZNWD have similar Market Cap.

The EMH deposit is roughly twice the size of ZNWDs, and from what I can ascertain. EMH is arguably slightly further advanced.

Is there anything obvious that means that Zinnwald is the preferably investment in European lithium?

Hi Carrington

Just catching up as, like you, I sold my shares at mid 700s recently and am watching the SP with a view to a re entry yet again.

Are you still a shareholder, I have you down as a real believer? I am more questioning, not really in the sense of JDW as a viable business, because it clearly is, but more due to anti business UK Government actions and a change in generational social habits.

Anecdotally of my own social circle I see changes. Those if my age group (shall we say approaching 70 faster than I'd like) are by far the heaviest drinkers. As an example many teens and 20 somethings don't drink at all , and I know of several older folk who have cut down or out . I myself probably drink a third of what I did 10 years ago, basically due to balancing health and enjoyment, at least in the absence of any social pressure! I am more than content with a couple of pints to be honest though with friends it has a habit of 4 or 5 (occasionally 6!). It's not unusual to ask someone who is say a builder, car mechanic or other usual suspects how much they drink and get the answer 'I dont drink' back.

So is the reduction of the numbers of 'pure pubs' , which some think JDW can capitalise on while adding the attraction of cheap reasonable grub, such an opportunity for JDW? I'm not convinced at the moment, although conversely I do see the margins on soft drinks are probably far greater than on alcoholic ones.

What I would like to see more of is selectively thinning the estate down where there are several 'spoons in close proximity. I'd like to see much more brand awareness of the Hotel offerings by adverts on the App and 'in store' on menus and subtle posters around the place.

So I will be back, quite probably shortly if the SP starts with a 6. But maybe after the business rate 'reduction', which I feel fell well short of expectation, I don't think I will be re-entering with the excessive enthusiasm previously shown!

Just pointing out a taxation fact, not trying to be in any way derogatory about ITM. Far from it I am a ITM holder.

While it is true that there is no CGT on ISA holdings, you can't have it both ways. You cant use a loss either!

I think that is a very good point MrExec. The rise in gold and silver has been so steep that ordinary investors are thinking 'is this real or a bubble?', especially after a couple of sharp corrections in the recent couple of weeks. Had the rise been more gentle then maybe there would be more confidence. I think that if gold shows there is a new baseline around $4500 then we will see a healthy break above 2p.

Truth is nobody knows. A week ago self professed experts on YouTube and wherever were saying $6000, $8000, $1000 and talking about the collapse of the dollar and the collapse of paper metals, and how rises in physical were certain. Now after the last day or 2 suddenly the comments are totally different, especially UBS, JPM etc etc who are suddenly reversing their predictions. In truth they know jack ****, and just join the bandwagon and say things that seem obvious so they can hopefully come in three months time with 'weren't we wonderful, we are investment gurus'.

The important thing is no one knows, This week could end $5500 or $4500, or even more extreme, or could simply mark time. Wait and see. The important thing is that your miner of choice produces metal at a price well below current market price. Remember PoG stated the year around $4300.

Yes, I agree with you smkr, a 10% decline in PoG isnt normally seen as a positive for a gold and silver exploring & mining company, especially when accompanied with a more like 15% decline in PoS!

I am hopeful, quite hopeful in fact, that this metals decline is a combination of profit taking and market manoeuvring. Metals cant just keep going in one direction without the occasional hiccup.

I feel the same about Motley Fool, although many of their articles seem to be regurgitated articles from several other financial periodicals of dubious provenance.

Van

Search me, seems to have a little strength at the moment. Lets just cross fingers, toes and anything else you can think of.

I think you need to understand this before interpreting.

The plan is for the Tavsan mine is largely being exploited via a heap leach on site, with some very high grade ore being trucked from Tavsan to Kilzitepe for CIL processing. The higher the PoG and PoS the more sense it will make for continued trucking even at lower grades (I guess). This has been the case for a year or more (cant remember the exact period). The CIL plant also processes the remaining ore from Kiziltepe and its satellites, which is diminishing but still worth mentioning. The 2025 production estimate was 25,000 ounces from ALL Turkish sources but this was reduced in an October RNS to between 18,000 and 20,000 oz (there or thereabouts, cant remember exactly).

So that 24,000 Ag/ 83,770 does not represent one quarters production, and never will, at least from Zenit.

The plan is I think a ramp up to 30,000 oz Ag per annum from heap leach at Tavsan itself.

As for the price of gold, who knows at the moment, but don't forget costs, its not all profit by any means.

Smkr

Not read, thought I will, but you should be aware that Zeus are one of Arianas joint brokers. In other words not independent so a pinch of salt is required.

LoB

I don't know. For some inexplicable reason I am still an optimist (will I ever learn) and am thinking that with the Xinhai interest this time could be different. For a start the Xinhai board member should address the big weakness of this company, the incredible incompetence of this BoD to manage the business opportunities.

I think that incompetence is proven by the willingness to open the company to a 20% equity holding by Xinhai (I've done the figures) - from their point of view its a bit like the 3 little piggies opening the front door of the final brick built house and inviting the big bad wolf in for a cuppa and chocolate digestives.

I think the Chinese interest will lead to a JV in Zimbabwe or, if Sener blocks that, the take over of the entire company. I am unsure which. The BoD can block the first themselves but a hostile bid would have to be left to the shareholders to decide, so maybe a bid is more likely especially if PoG and PoS keep escalating.

We should never have reached this position, and the dilution implied by all of these low priced placings and strategic investments have undoubtedly cost us all dearly. But this, especially against a background of one of the biggest metals bull run in decades, might save us. Might......

Ps, I really liked Joe Jackson, especially in the early days. Saw him several times, but remember particularly the Jumpin' Jive tour in the early 1980s. Was at the Odean at New St. Birmingham, and when he came on (all the band dressed in dinner suits) he didn't start the concert until a member of the audience was able to tell him what had happened in Coronation Street as he was unable to watch it because he was getting ready for the gig.

Hi LoB

Well depends what you mean! Maybe ASX being closed today helps as London can act independently, but the other obvious drivers are PoG > $5k and

PoS >> $100. Maybe with a sharp upward movement the sellers suddenly got FOMO. Alternatively we may see selling later in the day as recent investors who are not 'in' to AAU at 1.5p or less take a quick profit.

Search me my old mate, I've trying to fathom this COS (see if you can work that out, clue - the first word is crock) for nearly 10 years!

The Clarets drew!

Dont get me wrong Mr C, I fully support the idea of the hotels. Ask any odd bod in the street who the good value hotels chains areand I would bet the answer would be Premier Inn, Travelodge, maybe Ibis. They have raised their profile, Wetherspoons haven't. Despite the App, which I have, there are several coated paper items on each Wetherspoons table - drinks menus, food menus, promotions, maybe even the thoughts of Chairman Tim. Given the throughput of people in a typical pub why not also promote the idea of hotel. Even something simple like the plastic menu holder having a message like 'Did you know Wetherspoons also have good value hotels?'.

Think the statement was fairly neutral, quite good even given the known headwinds created by the imbecile Reeves. Think there are doubts now that the U turn on business rates for hospitality, that seemed nailed on a couple of weeks ago, is receding and I think in a veiled way that came out in TMs statement. If that U turn still happens then we could see confidence return. I bought 500 late yesterday at £6.79 but I don't think I'm going to chase this with more at the moment. I'll let it settle before adding again, catching a falling knife and so on.

I have 2 question marks on strategy. First are the transport hub pubs. Probably very profitable i admit but necessarily significantly more expensive and for a company that pushes value it does dilute the message (that also applies to franchisees as well who must not be allowed to affect the company image) Second (and you know I will say this) is the Hotels. These ought to be promoted these properly or give up, how many people even know there are Wetherspoons hotels? To give up would be a shame as, with the big premises they tend to operate from, there must in many cases be unused space above the ground floor just waiting to be used. But they have to get the message out that they are pubs plus, not just pubs,

I am not surprised by this mornings RNS, it had to come really as I have said in the past. Hopefully the results, when they come, will not cut or skip a dividend. Not because I need the dividend income but because that will be seen as a very bad sign as far as the market is concerned.

Easy to say now but maybe wasn't a good idea to continue share buybacks when the SP was at (recent) historical highs, though arguably suspension of those buybacks would also have been taken as a bad sign by the market.

Gold is up most days! Silver too.

Whether it causes a movement in AAU remains to be seen. Let's hope.

Magmanus, serious question, are you new to Ariana?

Metals price movements have certainly become more subdued today. Is that due to some form of bank intervention? Who knows. The consensus from what I have read seems to imply there are generally further gains to come during the rest of 2026, in silver, gold and platinum, aided by lack of confidence in currencies. People holding paper metals contracts are chasing delivery of physical metal which essentially doesn't exist for all of the paper in issue. However these changes wont be linear, when trader face margin calls etc then any assets they hold may have to be sold irrespective of whether the metals market is rising or falling. Add in the seemingly uncontrolled rantings coming out of the White House and the tariffs which may interrupt arbitrage in metals prices between New York and London and it sounds chaotic, I don't pretend to understand it all, merely observing really, but I cant remember times like this before. Interesting and slightly scary times I think.