Member Info for lsetown

Yes. That pathfinder mineral observation was made by 'JerseyCrew' from research done with ChatGPT.

As TRYYOURBEST said, we are missing JC's insight and I hope he/she returns.

That's exactly how I see this. An attractive risk/reward ratio.

I watched a Doug Casey video recently and when he was asked about which mining companies to invest in he said you should look for "people" who have been proven.

Callum Baxter !

Agree Magic-orb.

It's a good opportunity at these prices IMO.

That Benjamin Graham quote is apt: "in the short run, the market is a voting machine, but in the long run, it is a weighing machine”.

We are here in the voting machine, but if this thing comes off we will eventually be weighed!

"Too busy putting a meal on the table". Sadly I think that is what is happening, money is short for many people and investing in things like this aren't essential.

When people look back at these prices I hope they will be absolutely astounded by how low they were.

(that makes me want to buy more tomorrow. lol)

Well I bought some more today.

They have three good assets and are under a half of the WSBN market cap. which I think is strange.

That Gorge licence was bought "Under the Sale and Purchase Agreement between Southern Cross Prospecting Pty Ltd (seller)" and they retain surface rights. The deal is well thought out IMO if the existing owner only planned to churn the surface looking for gold. They get the same benefit as they planned (plus some money and GEO shares) and we get the underground possibilities with an option to buy them out fully.

I agree that it could be that results from Juno have made them move faster.

Not sure if they would have flown a plane over it though (and Lidar is only for topographic terrain isn't it?). In my amateur knowledge it would be the gravity and magnetic flights that would show the undercover prospectivity. Eitherway gold on the surface must have come from somewhere!

Exciting times!

So I read that

The BOD haven't been allowed to buy shares after the drilling as they would have been acting on inside information. Two of the BOD hold 8% of the shares each already and Callum Baxter additionally holds 20% of Juno independently.

Even if these first drills on Juno don't have great assays they still have other assets of interest. I reckon the sensible downside here is around 0.1 if Juno is disappointing, but the sensible upside will be 1p for just starters.

No politics please!

Looking closely at the numbering it looks to me that the box Brian Chu is looking at would be holding cores marked over 300 metres.

Found I had a copy of that book from years ago beardozer. Started re-reading it and the first Axiom resonated:

"If you aren't worried, you are not risking enough."

Has anyone here used the Kelly Criterion to help decide how much to put into an investment?

Basically it is a method to calculate the optimum asset allocation to increase your bankroll over time. Here's a good link describing it with a calculator:

https://www.albionresearch.com/tools/kelly

To calculate the optimum percentage you have to come up with the winning odds and the expected likelihood of it happening. You are never going to be accurate, but I find it useful.

Personally I think there are shareholders happy to get out around here because they are already in substantial profit and are getting tetchy about the assays.

If you objectively look at the fact that Callum Baxter has introduced us to our 2 prospective gold licences, and that we also have PEL94 in Namibia (with I believe 3D seismic and drill-ready multi-billion barrel opportunities), then at £12.5m market cap. I think we are very cheap even if we forget Juno.

Feels like we are reaching peak mania here. It could be a good sign!

Wow. I never saw that XRF tweet by Omar the first time around Tom1986 - thanks. That is very bullish IMHO.

As you say MM, the sky is the limit here. And then there is Gorge. Where did that surface gold come from - another undercover IRGS !?

You are confusing the share price with the company's value.

So we know that they are using a "phased approach designed to incorporate geological results into ongoing targeting".

We know that they have drilled two holes on the EM conductor targets and have paused.

We know that they "will look to commence Phase 2 of drilling once the necessary approvals are in place, which are expected during the current quarter."

I assume that approvals would only be needed if they are going for new drill locations, and why would they be going for new drill locations if the first two drills didn't provide valuable information?!

We don't know what their agreed contract was. Perhaps they planned 2 drills on the EM targets and then had 2 optional drills if they desired?

And why would they want to go drilling elsewhere when the first two were interesting? I don't think we can assume anything negative yet at all.

Stopping at two is a good thing if their cores are interesting.

The other two pre-planned drills were far away from the EM targets and appeared to be sort of back-ups!

Well, I was thinking of this document:

https://geoexplorationlimited.com/wp-content/uploads/2025/07/RNS-Juno-Project-%E2%80%93-Results-of-Electrical-Geophysics-and-Drill-Targets.pdf