I'd probably not being sleeping right either if I was sitting in his chair. Lots of assets to prove up, lots of potential excitement, results that could have been better, joint venture partners to find, reputational damage to repair from previous bod.
That presentation shows just how broad a company GWMO is and how many different battles and strategies Brian is probably having to fight and contrast at the moment to come up with results for us.
What do we make of these points on the spoil heaps? A summer 2021 field trip revealed that the spoil heaps are materially more extensive than previously calculated, with 51 heaps in total, potentially covering 14,000 m² (previously 38 heaps covering 5,000 m²) • Processing may be simplified by producing concentrate and selling it to a refinery rather than pouring precious metals in a remote location which has associated security risks
I think there is more to be gained from producing dor bars than concentrate. Thoughts?
First post to this board, thought I'd have a mooch since the company I work for has clients wondering about the financial strength of EasyJet.
To clarify, the record date is the date the company goes through its record of shareholders to see who is a valid holder of the shares. The ex-date is the date that draws the line on who is eligible to participate in the event, and who is it not. If you hold shares after the ex date, you qualify, if you sold your holding before the ex-date, you do not qualify. Simple. Rights Issue, it seems to me that the company is raising funds in order to survive, this is why the price is sinking as its very much highlighting the companies own thoughts on its survival, especially if they are offering a what was a deep discount at announcement date. It smells of desperation.
It is a lot of low grade results, a lot of people have been on here hyped for the high grades that used to be produced. It the moment we seem to be a viable shallow pit operation, but the mentally of the investors on AIM is to chase the bonaza, not the long term strategy and strengthening fundamentals a company like GWMO has the potential to produce.
I saw a good post by another LSE chat commenter ages ago. You should keep a list of the pros and cons of the investment as it progresses. Right now even though we are sitting in a delay, we still have to remember that we churning spoil heaps, have 100% hit rate for all holes drilled, have a good shot at economic viability and hired a director from GGP. I know the delay sucks but reflecting on these points helps.
Sure, These are couple of examples from the last 6 months or so.. its harder to find companies at the same sort of level in the same jurisdiction, but if you search for mining assay delays in google, its a fairly global set back going on.
The companies I watch mostly are: XTR (low grade copper that has had confirmation of a conceptual open put... barely economically viable.. but room to increase its resources to make it more viable) BZT (Another Colin Bird company) ORR (These guys got screwed by IAMGOLD but then got back on track again, it damaged the SP a lot) UFO (Operationally it seems smooth so far with a good team, but the price doesn't reflect it)
The companies I've seen facing results delays so far lasted for about one and half to two months. Since this was originally supposed to be last week of May.... I'm going to throw it out there that we should have results somewhere in the next two weeks. Hopefully we will see an optimistic rise in share price start again soon as day traders return looking for their sneaky profit to be had, especially with the amount of eyes watching this.
Part of the mind set currently here is that people are focused just on what the first set of results will be, the real confidence should stem from the all the projects when you look at the company, not just the first set of results. Longer term this company will do more than just come good at 1p. Brian & Gemma both have good track records and should get us the whole way with a possible copper JV play.
I'm not exactly sure we have been punished, we had a speculative rise based on anticipated results, we then confirmed there are delays, and with no fundamental changes we are back to where we started. Its perspective, if you bought the spike recently you may feel punished, but ultimately nothing has changed.
The drop came about because of investors/traders buying in speculatively before assay results. Now that the confirmation of delays have come out, they have taken any gains they may have made and moved on, hence we are back where we started. Maybe we will get another speculative rise in a week or two.. as we near possible assay time. No promises this time.
I think given that some on here were getting a bit on edge having not had confirmation of delays, having it in writing is a positive as it reflects that management are taking our potential concerns on board and alleviating them when possible. It's more than I got from previous mining companies this year experiencing the same pressures.
To be fair, I'm not sure what to make of a meeting to discuss drilling results, my guess would be that their could be a change to the drilling schedule, or we need to revisit somewhere which may cost money... BUT what is evident is that they currently don't have the assay results, as they can't be withheld due to potential scope for market manipulation that could be inferred if they were to withhold them. They have also currently committed to a meeting outside of results so any speculation on whether its meeting to discuss results that aren't as good as they could be will be founded on nothing.
It is to be expected, fear settles in when the share price rises and falls on no news. Fundamentally, nothing has changed, and the fundamentals look very favourable, its just if anyone got caught in the spike they will be a bit deflated right now. Without news we revisit 0.22-0.24p region we have been drifting in. With good news we go higher, with average or bad news we will stagnate or go lower, mainly because we've had expectations set perhaps unreasonably and unrealistically high. We won't go to the moon even with bonanza results, it will just be a good start, more results will need to keep churning out and prove it is consistent and worthwhile.
It's as predicted, no RNS and the price will slowly march back down to the 0.22-0.24, peeps will take the profit they received from the speculative rise but now worry is beginning to settle in. The results aren't going to change based on how long it takes, and it can't be withheld as its against AIM rules, it really is just a bit of a delay.