The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Https://x.com/Investinmining/status/1719587576212824393?s=20
What happened to the unsold gold?
https://www.copper.org/about/pressreleases/2023/copper-is-critical.php
OilPrice.com: Extremely Tight Market Could Push Copper Prices To Record Highs.
https://oilprice.com/Metals/Commodities/Extremely-Tight-Market-Could-Push-Copper-Prices-To-Record-Highs.html
The resource estimate covering materials lying around on the surface offers an exceptionally low capex route to production. For a company with a sub £5m mcap, with £500k P/A cash burn, it was very good news.
Worth remembering:
OMCO
The OMCO Mine produced gold at 25-30 grams/tonne recovered & silver at 30 grams/tonne recovered until the 1940s and was abandoned at the point where productive veins mined from west to east encountered a northsouth fault. GWMO have just identified the vein extension on the other side of that geological fault.
It would have been exceptionally unwise to release that RNA without a deal on the table, the strike price must have been on the floor in order for the BOD release such an ambiguous statement. Whoever is supplying the finance would have shorted the SP, ready to cover their position with cheap new shares?
You can understand it in terms of making the investment case more appealing by carving out a bigger chink of the asset value through SP destruction. But that's hard to square against the BOD's duty to maximise shareholder value. If that's what's happened, then I'd expect resignations.
Bless you Moon, you're like an anti savant, guiding us all with your metaphorical white stick!
It has to go down as one of the strangest intraday announcements I've ever seen.