Member Info for Jonah58

Interesting to see that GCM is having another reasonable day. It is not retracing as might be expected. I made the point that, even when 60% up, there was no speeding ticket. Of course there have been innumerable false dawns, but maybe something is afoot..... Anyway, I added here last week despite swearing I would never put any more cash into AIM! Gla.

Some interesting posts recently on the GCM board. Drop in if you have a minute!

Hi MB. I like this. The upgrade on Anasuria was huge.

You certainly deserve it. I did just what you are contemplating and put a bit into WTI a while back. Currently it is the best performing investment in my AIM portfolio, but the competition for that position is pretty weak! I have also been adding a bit to POL as and when. Here's hoping.

I agree Airdrie, it's difficult not to be a bit optimistic for once. Commodities hace reached the bottom of their cycle (according to the pundits) and miners are recovering. I am not holding my breath about Ironstone and Nimini, and Chatekma seems to be marooned in legal wrangling, but Hibiscus looks promising with the recent massive upgrade of Anasuria. WTI is ridden with debt, but at last has got its head above water and if the price of copper improves (predicted) it could do spectacularly well. Blackham is beginning to look like a winner. There is much enthusiasm on the GCM board at present, but we have seen all this before. It does, however, look as though Bangla has committed to some coal fired power stations. If they are relying on domestic coal, they will have to mine Phulbari sooner or later. If they are going to use imported coal, could some of that come from Indonesia? Maybe Tang is betting each way here. Have a great weekend everyone, and special thanks to MB for keeping this board alive.

Yes. It's a bit odd. I suppose all the savvy investors here think it's a P&D over on GCM. If you don't think that, it would be worth buying in here despite the spread.

This is to let us know that, in addition to existing actions in the Isle of Man and Norway, Hibiscus has filed a statement of claim in Singapore alleging (a) Conspiracy; (b) Wrongful Interference; (c) Unjust Enrichment; and/or (d) Inducement of Breach of Contract Don't think it makes that much difference to POLO but it is illuminating to observe the shenanigans.

looking healthy today. I have been following the friendly discussions on the GCM board and it does look as though the current rally has legs. Upbeat projections for the price of copper too. Here's hopin Pol hitches a lift.

&#61623; Matilda Gold Project Ore Reserves Total 517,000oz &#61623; Bulletin Reserves now stand at 142,000oz, an increase of 34% &#61623; Very strong conversion of Bulletin Mining Inventory to Reserves &#61623; Infill and extensional Bulletin drilling ongoing Blackham Resources Ltd (ASX Code: BLK) is pleased to provide a revised Ore Reserve estimate for the Matilda Gold Project. The estimate was undertaken by Entech Pty Ltd (Entech) based on the successful Bulletin Resources upgrade announced on the 14 March 2016. Entech focussed on the Bulletin Upper portion of the Bulletin Sulphide mine plan and completed a redesign and reschedule of the area incorporating the updated resource information. The Ore Reserve estimate is based on financials and modifying factors determined as part of the recent Definitive Feasibility Study (DFS) and announced in the updated Reserve estimate. The Bulletin Sulphide Ore Reserve now stands at 938,000 tonnes @ 4.7 for 142,000 ounces. Historical mining focussed on the broad high grade zones that extended to >600m below surface. Blackham is focused on near-surface reserves of <500m depth as part of a planned low risk start up strategy. Decline access, ventilation and mine services are already in place reducing expenditure and improving the economics. Matilda Gold Project Ore Reserves now total 6,354,000 tonnes @ 2.5g/t for 517,000 ounces. In conjunction with the increase in the Ore Reserves the mining inventory for the Bulletin Sulphides has also increased to 1,645,806 tonnes @ 4.93 g/t for 261,651 ounces. This has increased the total mining inventory of the project to 8.5Mt @ 3.0t for 826,000 oz. Blackham’s Managing Director, Bryan Dixon commented: “This is a good first pass result based on our early drilling of the Bulletin Underground and shows our strategy of targeting shallow resources with easy access that can be easily converted to reserves for a low risk mining solution”.

yes! up about 90% as I type.! I think it's the word 'disclosable' that's got folk twitching.

My very imperfect understanding of this byzantine situation is that Hibiscus (and hence Polo shareholders) held a substantial holding, via intermediate companies, in a Norwegion compane Lime Petroleum LPN). On the grounds of financial difficulties, the directors of LPN reorganised its share capital in a way that was highly detrimental to Hibiscus, but not so bad for themselves! (As an investor in BHR this rings a loud bell). http://www.bursamalaysia.com/market/listed-companies/company-announcements/4963717 Hibiscus have taken out an action against these individuals who deny the jurisdiction of ther appointed arbitrator. They now want to wind up LPN as being insolvent but, amazingly, they seem to have misplaced all the accounts so it is difficult to see how they know they are insolvent. With regard to Polo shareholders, taking a worst case scenario that we write off our entire holding in LPN, I think we own about 8% of 35% of 250000000 Norwegian Krones' worth! Honestly, this could be hopelessly wide of the mark, but in UK currency amounts to about £60,000. I certainly stand to be corrected here.

whoops, sorry, you didn't. I must get up earlier!

and this one! http://www.lse.co.uk/share-regulatory-news.asp?shareprice=WTI&ArticleCode=gs9k3u9g&ArticleHeadline=Quarterly_Operations_and_Production_Update but I fully endorse Nathan's post. Many thanks.

Yes, and it's up again today (though low volume and wide spread). Quarterlies due there soon and a bit of optimism. GCM continues to go up; much speculation as to the cause. No response from Polo's sp, not altogether unexpected!

Yes, that was my reading of it too. btw, up 20%. Only 500,000 traded but all buys. GCM and WTI flat. Is there something I should know?

Thanks for the link. I read something about this a while back. Do you understand anything about the economics of Ironstone's vanadium production? Is it inextricably linked to their iron ore process which is looking pretty uneconomic at current commodity prices?

Thanks, MB. Essentially WTI relinquishing rights to a tailings outfit in return for a better deal on the acid they need for Tschudi. Every little bit helps, I suppose. Confession: I bought a few WTI shares before they reorganised their loan. Do I need to see a shrink?

Hi MB. Many thanks for keeping this board alive over the last year. A very happy Christmas to you and all other posters. It's odd to see so few posts with such a massive rise over the last few days. I suppose everyone is so jaded with this share that they do not dare to let themselves get excited. Also this board is mercifully not on the p & d gangs' hit list. Hopefully we will attract some more constructive discussions as Blackham and Hibiscus come on line. Here's to better things in 2016!!!

Thanks MB. Good to see a bit of positive news. Hope Orion are as flexible over in Namibia! (where, after tanking spectacularly on the RNS stating that income from Tschudi will not cover debt repayments, the WTI sp has recovered a bit over the last 2 days, driven, I suspect, by ultra-high risk speculation that the price of copper will recover.)

Thank you for posting your thoughts. Since taking over from Dattels, MT has made three significant new investments. The first in a gold mining company about to get involved in a massive board room spat and the subject of your informative post. The second in a copper outfit on the verge of closing down its central operations and about to divulge that its initial production from its flagship operation was seriously lower than predicted, and the third in a phosphate company that was on the verge of losing its controlling interest in its principle asset. It seems that the interests of the private investor are of no great concern to our chairman, for whom the words 'due diligence' are an irritating distraction. How many shares are in private hands? Do we have any options here? gla