Member Info for Jonfon

I wonder if Putin massing troops on the border of Ukraine is holding us back? No direct risk to either of CAML's operations but both sites are uncomfortably close to Rusiia.

Perhaps the fact we fell back below 20p after the announcement answers my question.

Investing for serious returns is one thing. Paying high salaries for people to buy small stakes in speculative assets is another. MTR is where it is because it made a good discovery in Botswana and exchanged that for dividend paying shares in an establsihed comany. Over the years it has invested in dozens of tiny companies like this, which saw small profits, but nothing that ever turned into anything for shareholders. Nearly 70% of our market cap is in Sandfire, and around 10% in Kalahari Metals and Cobre. These are good assets and SFR is generating revenue, but we are taking interest bearing loans on the SFR shares and paying salaries to an investement team to fund all these small purchases. Is this really better than them distributing the money to us?

MTR keeps making all these small investments that might make a profit but are unlikely to have a material impact on the value of the company. Why don't they use this money to pay dividends instead?

Anyone know how long a drill like the one the Cobre/ MTR team are doing takes? I've looked online and there are mixed opinions.

Up 12% in 2 days. Our new Cobre shares cost 17c and the y are publicly trading at 19.5c and MTR has barely responded

https://www.fool.com.au/2021/04/14/3-latest-asx-shares-that-top-brokers-have-upgraded-to-buy-today/

Upgraded to buy with a target of $7.60 per share.

And no statement on the cash/debt position either. They have always put this on the quarterlies. What are they hiding?

No, I suggest they are an inferior investment, and by some degree. The problem is that their market cap is worth nearly as much as MTR, because people aren't buying MTR. They are not buying MTR because when people are looking for a punt on explorers, POW is well marketed and MTR is not.

To clarify my last point, both are listing in Australia and POW keeps thier investors informed every step of the way.

I used to hold shares in Power metals (POW) but sold them and bought here. POW has a similar market cap but a much smaller balance sheet and fewer assets. The differencer? POW keeps the market informed and drums up interest. I still think MTR has better assets but their management is useless. It's all very well releasing big news when it happens, but if we need to raise funds for the next step in the process, it will be off a low base and the dilution will be more.

£377K worth of buys this morning. More than 1% of market cap. Bargain hunter or something big about to happen?

Look at Metal Tiger (MTR). They are primarily explorers but around half their market cap is held in Sandfire Resources, an active Australian miner with who they swapped a successful exploration claim for equity. Unlike all other explorers, they generally turn a profit on account of this and some other investments.

The issue of no water, electricity or roads has been brought up a few times. A lot of Africa's electricity and roads are put in place to facilitate mining, so if these are needed, they will come. Botswana doesn't have the corruption seen in a lot of other African nations, so building infrastructure won't require "brown envelopes" and be a lot cheaper than other places.

As for water, in most deserts water is available but needs to be managed carefully .Escondida, the worlds biggest copper mine is in Chile's Atacama desert. 9.5% of all the worlds copper is produced there.

With the looming copper deficit, costs associated with all thiswill be absorbed in higher copper prices.

The Cobre shareprice dropped over the past few days, despite the good news. Is there something everyone in the world knows that is being kept from the people who post on this chat group?

Maybe they waiting for the ASX listing, then do a "big bang" news release to punt the new listing. At least I hope that's the case. I've never seen a board less enthusiastic about good news.

The company is running at capacity. They've announced they can't do any more crypto trading because they hold physical assets against client bets and have reached capacity with these. At the last quarterly report they were holding £60 million worth of crytpo, which would be worth nearly £200 million now. In addition to tradiing commissons, IGG gets an overnight rate on these that works out at 22.5% annualised.

The removal of the 1000 shares from their leveraged offering is also to allow for more capacity. The fact they had to stop opening new accounts because of unmanageable volumes shows that they need to free up capacity, so this is the right move. . If the reason that they need to cut the margins on riskier products is they are handling too much business to juggle everything together I don't see that as a problem.

Looks like the people who wanted out have all gone and the upward momentum is back. I' m expecting a stellar quarterly report next month. Crypto's aren't available for European retail investors, but could do wonders for the business we do with professional investors and the APAC region. Hopefully we get to double digits off the back of that.

I did a little table on the value of the listed investements. They come to £26.3 million. That would mean the market values the sum of Royalties, warrants, unlisted company investments and exploration assets at only £7Million. This is the bargain of the yer!

Company Holdings Price Currency Value

Sandfire 6,566,990 5.09 0.56 18,718,548.30
Cobre 20,900,000 0.21 0.56 2,457,840.00
Southern Gold 37,794,000 0.10 0.56 2,116,464.00
Thor 96,550,000 0.0088 1.00 849,640.00
Trident 2,850,000 0.38 1.00 1,083,000.00
Pan Asia metals 7,627,447 0.17 0.56 726,132.95
Los cerros 2,200,000 0.16 0.56 197,120.00
Sable 605,000 0.29 0.56 98,252.00
Arizona metals 154,000 1.00 0.56 86,240.00

Total 26,333,237.25

Between the 919.50 high this share reached on results day and the price now, we have lost over $900 million market cap. If the entire $1 billion is ultimatley wiped off the share price, will this stop dropping?