Member Info for Metalhead25

The nickel, copper and cobalt soil grades are very impressive

The yellow in the core… clearly we’ve hit uranium… that photo will be key evidence in Brett’s upcoming radiation poisoning negligence claim

I don’t know what your agenda is, Stan, but one thing I know for sure is you are not a shareholder in this company

An RNS but not the one we wondered about after yesterday. Not sure whether this bit of selling mentioned in the RNS has anything to do with the transactions yesterday - possibly not. Suspect we just go back to awaiting next update now

See what reflected? Sorry, I’m being dumb!

Bear in mind it’s not the case that all those trades were instructed after close. They were instructed at some unknown point and will have been worked over a period of time before being reported/printed after close. So they should be factored into the real close price of about 108/109, indeed they are the explanation for that price

Clearly something going on. Think there are three main possibilities:
- someone saw the drop yesterday and decided the time was right to buy, some other people got excited and piled in after
- someone has some inside information
- it’s a pump to get a placing away

I have been tempted today to think it’s the second and to pile in myself. But I am conscious that if it’s the first or third this will likely turn out to be a bit of a spike. Decided to wait. Perhaps an RNS tomorrow. But usually on AIM when something like this happens we just revert to no news for several weeks/months! Will see. Do like the prospects here

I’m surprised by the sp drop in one sense, in that the mcap is now very nearly covered by PNT.AX and Fulcrum and I think there are reasons to expect good results from the Obonga drilling.

On the other hand, there’s no denying we’re not generating much excitement and interest in the market (rightly or wrongly) so I guess from that point of view a drop is not that surprising.

I stand by my view that we have a terrific package of assets in Canada currently valued at virtually zero

Is BBG still a director? If not, his dealing wouldn’t be reportable

From BT on twitter explaining why things have been quiet:

“ Over recent weeks we had to make sure we didn't complete any work, so as not to interfere with the prospectus process. It's been frustrating, but we can now complete various items in the #KCB, #KSZ & at #Ditau

Normal service is resumed!”

Nicetomichu: “bad news was priced in a lot at the previous 3 odd p levels too. So, I believe there's a considerable overreaction here”.

Agree with both statements, if you’re viewing share price as a pure reflection of asset value. But on AIM it very rarely is that. And certainly not in the aftermath of big news. It’s driven by instinct and emotion, and crucially by the simple determinant of whether there are more buyers than sellers or vice versa. The RNS reported a good big resource. Disappointing grade overall but with higher grade bits. Top jurisdiction. In a vacuum, a decent result. But… It was never going to get the AIM punters excited. Which means: no buyers. And of course there would be some sellers. Therefore: price down.

Not the most sophisticated of deramping, draggers. In reality, this RNS is not going to be the one that launches the rocket but it’s clearly good rather than bad - they’ve done work on EH and Munni Munni that had not previously been reported and which comes as a surprise, and they’re talking about cash flow from these projects which nobody was expecting near term

It’s a huge amount of copper in a top jurisdiction, it’s open pittable reducing costs, it has a high grade core to facilitate early capex payback, and it will sustain a long and profitable LOM. Certainly should be valued far in excess of XTR’s whole Mcap. Add on some more tons from Ascot and I think we should be looking at 12-15p for BR. Then there are the African assets of course

The main thing it indicates to me is they’re preserving flexibility. There is reference to a misc exploration budget of £1.27m, on top of individual project budgets. I agree that if KCB goes well that should be the focus of that currently unallocated money. But the prospectus is consistent with that, it just doesn’t commit to it. I would maintain flexibility in the same way if it was me

Seems to me that the merits of the various corporate deals depend on future events:

- If in the future Kanye does relatively better than our other projects, the POW deal will have been good. If it’s the other way round not so good.

- If in 9 months time it is still hard (or, worse still, even harder) for junior explorers to raise money, and companies of that type are going bust left, right and centre, we’ll be glad we raised a lot of money when we could. If, on the other hand, people are throwing equity at explorers in 9 months’ time, we’ll think a smaller raise would have been better.

In my view, both transactions are defensible on the facts known at the time (and indeed still now).

It’s a positive update but does rather give the impression of scrabbling towards project viability. Think the presentation could be better

On the other hand, he has done very well here in his short time as CEO, which seems more directly relevant

People would do well to remember that of the three targets drilled:
- Panther has already hit substantial massive sulphides at one (Wishbone)
- We’ve seen core photos showing sulphides at another (Awkward)
- The third was drilled before Panther’s time and produced sulphides which were not assayed.

This is not your average shot in the dark. If we have geologists flying half way round the world to look at the core, it’s likely to be because it’s worth looking at

I understand why 5 rather than 1 (minimising moving of rig). I don’t understand why not 6

I’m sorry but the idea that the company manufactured/contrived THREE potential offers just to create an opportunity for a relative of one director to sell about a tenth of his holding is bonkers