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@DonkeyOatey - John Meyer is an SP Angel employee, he ramps any company which they represent. He changed his tune on ARCM overnight because they got dropped as ARCM's nomad/broker. He's not a "respected junior mining specialist," he just repeats recent RNS info (often shows his lack of full understanding) and bigs them up as part of his job.
Looks like it was a trial but due to the steep dip the application struggled to ID known pegmatites. I guess in turn making it harder to ID unknown ones. Capital to be reallocated to drilling which always seems to deliver.
Expecting all the lifers to be jumping on this & trying to spin a morsel of positivity from a dire situation.
For anyone who’s got sense, don’t get sucked in by delusional posts, this has been going on for years & the death spiral finance is just beginning. Quit before it’s too late; this isn’t an attractive mining project relatively speaking & its within a terrible geo political environment as the majority of the last decade has proven. Nothing will be easy.
Seen the same conversations from the same names going on here for the last 6 years.
Almost like a cult following. Never seen anything like it from a share / company / management that's essentially done nothing notably material during that period. Will come back next year and see what the chat is...
And people still believe this will come good...I've seen the same posts & self reassurances now for 7 years back when I first invested. Death spiral finance commences here...only another $450m to get to production...
The numbers are underwhelming. Look at the other mining projects going around in comparison. Long road ahead for a small prize given required CAPEX.
Fairly meek numbers. Should of done the study 5 years ago and saved us the trouble.
If you believe that management will come out of hibernation at some point then it's cheap down here. The longer they hibernate, the cheaper it will probably get. It's painful, but given Matt & his family's shareholding you'd expect this to happen at some point. I have a reasonably big shareholding so there's no point crashing the price myself in search of a lower entry point, but I'll certainly be adding more at the first sign of life. I'm sure others are thinking the same. High risk, potentially high reward.
Decent buy volume in the first hour of trading so far today. Fingers crossed that it's a sign of something coming.
@OldManJoe - who are you saying owns 25% w/ friends & family?
@EarlofAim - firstly, you can't convert gas to BOE then apply the oil price. BOE is an energy equivalent value, not price equivalent. One boe of gas is considerably cheaper than one barrel of oil.
Secondly, the value of the gas in the ground is largely irrelevant without considering the cost and time taken to extract said gas. Considering there's no export route via Timor Leste, this cost is insurmountably high and even if it wasn't, the timeline of the project would be multiple (~10) years to completion. This is why the majors have left the area, and why Woodside have valued their Sunrise assets at zero. The only hope is that the TL government allow export via Australia.
Good to see some old faces on here from 5 years ago. Have i missed much?
The actual ask has been just under 4.2p all day, with the bid varying between 4.01p and 4.1055p. Counting anything at 4.1055p and below as sells, it gives todays volume as:
Buys: 600,000 (£25,147)
Sells: 836,817 (£33,844)
Total: 1,436,817 (£58,990)
30,000 shares of additional sell volume per day is negligible and won't be a significant burden on any potential share price moves if the company continues to deliver on production and vanadium prices stay high - it's far less than 1% of daily volume. If all of the shares landed at once then it would be far more of an issue.
The shares won't be admitted to the market for a few days. The RNS suggests that this will be the 8th February.
Yes - the price will likely drop to the level of the placing because of people flipping their existing holdings for a quick profit.
Evan3020, they'll go into your trading account, then you can transfer them to your ISA. You need to pay via debit card, PrimaryBid can't access funds that are with your broker.
I'm glad someone gets it Insertwittyname, seems that other posters would prefer to bury their head in the sand and pretend it's a 20g/t mine based on a gold concentrate result.
Regarding sample size, it's mentioned that it's at bench-scale in a laboratory, so I highly doubt it's a tonne of material. It will have been closer to 1kg than 1000kg.
The grades quoted in drill results are the grades within those quartz veins, i.e. when mineralisation has been hit, so the host rock is already excluded. You're right in the sense that there can be a lot of variation between different grades, but it's illogical to think that a series of 0.5-1.5 g/t quartz veins suddenly become 20 g/t when taking a bulk sample.
The 20.7 g/t refers specifically to a concentrated product at the end of a process designed to extract gold from the input sample, which is obviously going to be a lower concentration.
Indeed Pecten11, much easier to ignore all of the drill results so far and assume an average grade of 20.7 g/t in-situ... can't blame the company at all either, the RNS was as clear as possible about it being a concentrated end-product.
@Jeremiah99 that's not what I'm saying I'm afraid. The process that the material from the mine was put through in the lab involves extracting as much gold as possible from the sample, which results in a more concentrated end product. The grade of the input material is unknown, but will be significantly less than 20 g/t - otherwise the concentration process hasn't worked very well. 20 g/t is the concentration of the concentrate, not the input material. It is not representative of the mine grade.
Drill results are still the best indication of the in-situ grade. All the mentions of today's results being grade assays are nonsense - the word assay doesn't appear anywhere in the RNS, and it's very clear that they're testing the pilot plant process.