Member Info for Metalhead25

To be fair, Nige, in an all share deal like this, the price they fix per share is completely arbitrary. They could have said 0.8p and it would have made no difference - the seller is still getting x amount of shares worth the current share price

More confetti. What is the strategy at the moment??

No, that’s all I asked him. One sentence question, one sentence reply

John, I’ve had confirmation from Ben that that was not the strategy update. That is still to come

Bit of a mixed bag. 8 holes, of which 7 returned nothing but 1 is great. The question about EH is number of tons of ore. There are no worries about the grade, that’s for sure

We raised £3.5m a few months ago

I’m also interested, but am just conscious that if the price action from the previous 3-month period repeats we would see a drop to 2.1 area over the next month before a bounce back. Seems possible so am weighing timing

If you ignore sub-£100 nonsense, there were TWO trades across the whole of last week, both sells, and the larger of the two was only £1200. Extraordinarily quiet!

Smiller if you get a reply out of them maybe I can send you my question about the Windfield deal which they ignored twice when I asked it…

1. I think we’d already rather gotten the feeling this campaign had not succeeded, hence, I suppose, the limited SP drop today - already priced in.

2. I’m now very grateful for the large raise a few months ago. With all that money secured, this feels like one of several rolls of the dice that hasn’t come off. We have money for more goes. I take great comfort from that.

3. It seems to me that the main problem at PL082 has been the belief that we had an anticline with the Dkar/NGP contact near surface, whereas in fact we had a syncline with the contact way down. Presumably if we’d known that before we started, we wouldn’t have done the drill campaign there. The synclinal structure was pretty clear on the CSAMT that was run part way through the drilling campaign, so to me the big error (in retrospect) was not running that CSAMT and identifying the syncline before we started drilling. That does seem like an error in retrospect, but then again at the start of the campaign we were going on soils and AEM which I think everyone thought was appropriate at the time.

4. The slight positive flowing from 3 is it seems a very easy lesson to learn, and now that we know how well our CSAMT interpretation can identify synclinal and anticlinal structures I am confident that next time we drill the KCB we will be drilling an anticline.

5. Obviously we didn’t find the Dkar\NGP contact or a copper deposit, but that’s not surprising given the geology we in fact encountered. There does seem to be reason to believe that, given more favourable geology in a different location, the CSAMT would pinpoint the contact. In other words, there are signs that we do now have the tech needed to target KCB drilling very accurately, given a shallow Dkar/NGP contact; we just didn’t have such a shallow contact in this location. But again, next time we drill we should do better.

6. I’m puzzled as to why we got such compelling soil results (not just the pure numbers but arranged as though following subsurface features) at 082 if there’s nothing there.

Agreed, nobody invests £100k in a mine they’re not confident will be permitted or funded

Nice to see he bought in the open market not in the placing

Hard to regard the placing itself as a positive, but I do consider the increased investment in HyProMag gmbh as a significant positive, and that is the main use of the funds

Surprising move up today, given the rock bottom sentiment. Wonder whether someone knows something. Then again, when anyone asks that question in this game, by far the most common thing is that the answer turns out to be “no”…

Legal, we know what the GM is about: just scroll back through yesterday

Likewise, Cox

Certainly true, Cox. I’m not happy with where we are, clearly. I just take the view that it is mostly a function of missing with the drill bit which is not primarily the former financial journalist’s responsibility. He has also made mistakes personally, no doubt. But I don’t subscribe to the few that everything he does is awful. I think he has good points

Agreed on that fbrj, although the wording of formal announcements like notice of meetings would seem to be the company secretary’s job. To be clear, none of my posts aimed at you (except the ones with your name in!)

Aha, it’s the other guy! Right on cue

When you’re posting more than once a day attacking the guy, it’s hard to spot the one where you’re joking