Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Looking very good here. recovery to 30p on the cards
None listed nor any in the original prospectus either, i did notice a directors sale handled by Arden that was for a decent chunk which they said was placed with new 'institutional' investors a few years back, could have been a source for this large sell.
I have seen funds sell at crazy levels with no market awareness in the past on other stocks. Just imagine trying to sell 2m of these, especially if you didn't give two you know whats for the price you got.
Either that or simply someone/fund just sold the 2m+ piece that went through at 5p last week. The sell being very unsophisticated and the market found a MM that was happy at 5p to take it.
Could have been a fund (sub 3%) that had to sell due top an investment mandate issue i.e. oil and gas.
I wouldn't think you would drop such an obvious sale on 'insider knowledge' too obvious. All the other trades we have seen around this 2m are connected due to without this trade the floor would not have been found.
Company should make a statement though. Simply we had a single seller and no of no other reason, trading in line with previous published results
Grant is the 'game changer' get that and all bets are off, takes the risk almost out of the equation
Good write up, very undervalued this one, especially if gold keeps going---
First Class Metals – Signs Kerrs Gold Project Earn-in Agreement
Ryan D. Long
Ryan D. Long
Sharing Insights from the Global Mining Industry
108 articles
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April 22, 2024
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First Class Metals PLC LSE:FCM FRA:WN9 has signed an earn-in agreement to acquire up to 100% of the Kerrs Gold Project, located in the Abitibi Greenstone Belt of northeastern Ontario for a total consideration of C$300,000. The C$300,000 is payable in 50% cash and 50% shares, based on a series of 6 milestones.
The Kerrs Gold Project covers an area of 665 hectares and contains a historic non-compliant mineral resource estimate of 386,467 ounces of gold at an average grade of 1.71 g/t (Figure 1). The project is located in the Timmins Mining Camp, one of the most prolific gold camps in Canada, which has produced over 67 million ounces (Moz) since 1910.
Figure 1: The Kerrs Gold Project
Source: First Class Metals
Nearby-producing gold mines include Newmont Corporation’s 6.3 Moz (1.57 grams per tonne (g/t)) Hoyle Pond & Hollinger Mines and McEwen Mining Inc.’s 2.4 Moz (4.06g/t) Stock and Black Fox operations.
First Class Metals has commenced a detailed historic data review to understand the resource and its potential, ahead of planning an initial exploration programme in the summer.
The Kerrs property is not currently permitted for drilling or stripping and once the data review has been completed a ground appraisal a permit will be drafted for consultation with the local First Nations.
Thoughts
First Class Metals is earning into the Kerrs Gold Project for around US$0.57 per ounce (/oz) based on the historic resource estimate, with the gold price currently at US$2,358.10/oz, this is unquestionably an attractive deal for the company.
The historic data should give First Class Metals a good platform to rapidly establish a compliant mineral resource and assess potential targets for future exploration.
The company plans to remodel the the historic data to identify higher-grade areas for targeting in any proposed future drilling. Higher-grade areas are present within the historic resource demonstrated by the fact that over 100,000oz was defined at an average grade of 3.94g/t, using a cut-off grade of 3g/t
The Project benefits from well-established infrastructure within a premier mining jurisdiction. During a better market for junior explorers, First Class Metals would have been unlikely to secure such an attractive project, at such a low cost.
The Company continues to build for the future, with the acquisition of the advanced gold project.
The HZM comparable is not founded, it is all about the point of the curve, the start and the end are two very different places. Tier 1 nickel will always find value. HZM a failure due to lofty ambitions. Sell and move on the asset would be the way for molopo
I have actually made some money on an IPO position for the first time since adam was a lad, kept some and reduced, this is how the market should work
Slow burner this though, it never was going to move at the pace the hype demanded, in on spud!