Member Info for JP2000

Reckon the lab finished processing the samples 2-3 weeks back. CEO speaks to lab &asks them not send any emails/letters as obligation to release results. It’s connected to the Prospectus & after they push fund raising through (35%dilution), next day the lab emails the results which get put into public domain. Very cynical but playing games.

Important week ahead, should hear about Dotted Lake assays

He doesn’t say anything whatsoever about drilling this year & that’s the issue. Without drilling there’s very little reason to buy FCM shares.

New interview out with Marc Sale except it was pulled 20 minutes later.

Happy to be corrected & will apologise if wrong…Having given away 51% of the company they are not intending to do any drilling this year. Is this a complete p1ss take?

Near term news flow:

1) DL soil samples

2) DL assays drills 2-3

3) DL assays drills 4-5

4) DL drilling resumes

5) Obonga news

Over on Telegram I kid you not Turney says the shares will be worth 6p each in 3 years time which is net net £200m added value. Seems to forget no debt finance available, retained earnings will be modest & it costs $10oz to buy in resource thus depressing value per share, & production requires capital & working capital. Would love to see the assumptions behind the claims.

Bozi, completely agree, assuming the production goes to plan the PLC will make a small overall profit but it will take >10 years for Purebond/PWB to break even. What makes me laugh is Spaffer has 40m options at 1.1p, not a chance in hell he’ll get a chance to exercise.

The deal is a monumental error & unless there is spectacular field progress then share price in a death spiral.

Nobody can guarantee results, only said they need to map out in more detail what the proceeds are being used for. Drilling is one of the few value drivers so let’s hear how many meters will be drilled in next 12 months, then show those results to the market before diluting shareholders again. This is not voodoo magic, it’s common sense to build trust in the company management.

Says nothing whatsoever about the proceeds. If he said they will drill 10,000m in the next 12 months with the aim of 1-2 commercial discoveries & will release assay results to the market before any future fund raise then it becomes an investment. Knowles response is meaningless waffle.

Not sure anyone saw the fund raise happening prior to assay results

Pretty sure it would be a closed period for director share dealing

Next batch of assays due very soon, within 2 weeks. PIs need to watch the Coal Drop Yard interview, now of course assays don’t always correlate with visuals but if they’re good then it derisks DL

Last RNS was 23rd Sept, aka assays from international standard lab did not match visual results so retesting. Investors are rightly saying WTF is going on? Then a sell out takeover deal, then tweedle dumb & tweedle Dee set up their own exploration company (as reported on Telegram).

I completely agree about the Marc Sale comments. But, if FCM have deliberately held back price sensitive information then they are in breach of FCA rules. My take is the company are looking to bury bad news rather than suddenly announcing good news.

Maybe it’s not about Dead Otter or Dotted Lake but Sunbeam & Zigzag

My cynical reading is the results are not that good or indifferent. Junior explorers will often suppress negative findings or look for a way to bury bad news. If anyone feels aggrieved enough by the shenanigans then write to the Chair pointing out the obligations to publish price sensitive information.

The 100t/d uses a leach heap so it may take several months before physical gold is produced so likely in Q3/4. Given Zim border/customs it will be a miracle if the plant is delivered on time.

Yes you’d have to bonkers to invest here.

Granted Turney is good at raising cash but diabolical exploration results.

KAV wants to be a producer, no debt finance available so 100% equity.

Risk to reward ratio, please elude to how KAV becomes a 5, 10, 20 bagger?

Dec 22, 455m shares in issue

Mar 25, c2,600m

Plus $4m if Nara goes ahead July & £2.5mCLN in Aug

This is not an investment for ordinary shareholders.