Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Bird says today on Traders Cafe that the announcement for AFP is perhaps the most significant of his entire career. Similar SP as XTR yet could realistically hit 50p-100p+ if it was to come in and that could happen inside of 12 months.
"Yet the market believes the RNS of of another company he's at the driving wheel with. So much so that it jumps over 36% within the hour. How do you justify that".
Well the RNS from the other company (AFP) detailed an update provided by a credible partner. CB also then went on with Sunday Roast and suggested this £4m market cap company could potentially be worth hundreds of millions and in a relatively short time frame. So a 36% movement at £4m not actually that big. I do of course take everything CB says with a pinch of salt, but the update from First Quantum looks very promising indeed, though still very early days.
“ At AGM (I believe) it was noted that Colin said ,“if I were AA, I would make an offer.” (Words to that effect without checking)”
What are you talking about? He said he did not think that AA will be interested, which is the complete opposite of what you’ve stated.
You make a lot of incorrect assumptions, you clown. The only thing I am frustrated about is the misleading comments and statements made by CB. Timelines and resource. Resource because nobody realistically expects us to be anywhere near as close to the 2MT as CB claimed we were.
Always the same from cheerleaders on these boards. If an investor is unhappy with how things are going he’s accused of not being a shareholder or being a shorter, troll etc.
Wrong. CB has badly misled shareholders over timeframes and size of resource. Shareholders are entitled to vent their frustration on boards like this, just as much as the cheerleaders are entitled to wave their pom poms. What I am most unhappy about is being misled by statements and comments made by CB. He has gone very quiet regarding Xtract and I fully expect this project to be sidelined.
Colin says it takes 10 days to complete the model. So what are they waiting for? Timelines have been missed badly. I personally feel I’ve been led down the garden path by Colin. I’m not looking for reassurance and selling is not a great option because I’ve got millions of these. I want to know what we have, I suspect it’s around 1MT, way short of the “almost there” 2MT claimed previously. The follow up assay results this year have been absolutely terrible. My own expectation is that CBs “almost there” comments were on the expectation that results would be nowhere near as bad as they’ve been.
I expect a positive NPV only with an unrealistic copper price. Which tells me no phase 3 and this project will sit until market environment is better. Fairbride cash to be spent on the next big thing, and perhaps coupled with a raise.
People talking about punishment from the market if something doesn’t happen in the next 6 months but the punishment has already been severe and the project is priced at almost nothing. If I can break even on this I’ll be happy, even allowing for the opportunity cost of having been stuck here for what was supposed to be a relatively short term investment off the back of the misleading comments made on podcasts.
Highly unlikely AA will be interested, Bird said it himself. Steve, how much was the license worth with the original resource? Look what we paid for it. Reducing the cut off to add to the resource will not add value to the project. IMO we *may* have doubled the resource from what it started at, but I’m not convinced that will make it valuable enough to make it worthwhile, certainly not good enough for my money to have been tied up here and at a 5p-ish average.
Howezap you are a complete dreamer. CB still believes there is 2MT in the license, but imho Xtract will never get close to doing that and to me it doesn’t even feel as though a phase 3 would be enough to get us there. My guess is around 1MT but I wouldn’t be surprised if it was less than that. We also know that you can’t combine the resource of Racecourse and Ascot to get a single mine.
Can’t believe people are saying to give Simon a pass. The SP was 3.5p-ish before news of the placing seemingly hit the market before it crashed down ahead of a raise at 1.8p. He gave away 40% of Wressle for nothing. It was completely unnecessary and at a time when cash was being generated. He chose to roll the dice with other peoples money, he lost and should now walk.
The only need to raise is if they want to take on a new opportunity or fund a phase 3 of Bushranger, while the latter could be done in stages using cash expected to come in from Manica. If its expected that the resource update will have a positive impact then it makes little sense to do any cash raise in advance of that.