Member Info for Metalhead25

I’m not saying it won’t be higher be Christmas - could well be. As I hope I’ve made clear, although I sold I think this company has value and potential and I wish all holders well. I’m just offering an opinion on what is really needed for a bigger rise

You haven’t got a persistent seller, mate. The share has been drifting about for months on low volume.

I’d have thought there’d be some price rise on the Wowo news but maybe the recent rise from 1.45 to 1.90 was it (based on leak and/or anticipation). IMO the price will rise more substantially if FGS becomes cash generative - the strategy is to use cash generated by FGS to fund the development of the mining projects; without that you’ve got unlicensed early stage Nickel projects on the other side of the world but no means of progressing them!

Not sure whether we need to be granting new share options at all but assuming that’s a reasonable thing to do I’m greatly encouraging by two directors taking options which require an SP of 15p to be exercised. Also, Mike Moles wouldn’t be agreeing to be paid in shares if he wasn’t feeling confident!

Thanks John, v helpful

Yeah I don’t think it’s fair (or sensible) to ask a bunch of strangers, in effect, “should I buy?”

If you want some things to think about when making your own decision, I think it would be fair to say that most contributors to this board think Tharisa has a good mine and is well run and undervalued relative to current earnings; obvious risks are the possibility of adverse movements in PGM and chrome prices and any political or economic stresses in South Africa. Views on the company’s growth projects seem to be mixed

How did you find that out, if you don’t mind the question?

I think it’s just pre-news nerves. If you’re worried about the idea that there could have been a leak of bad news, I really don’t think the sells are large enough for that to be in any way a likely explanation. It’s only a few k really. Onwards and upwards!

Suspect it’s a buy from earlier in the day (just reported late)?

I’m hoping for 5p much sooner than a couple of years!

Tharisa have tweeted this morning that the chrome price is up to 180-185. That’s a good 40% or so up compared to the start of the year

Well, as I mentioned at the time, I sold my Corcel shares and am not currently holding. So what I have to say should be read with that in mind. My thoughts on Corcel’s current share price and market cap are as follows:

1. If you assume successful execution, the projects are clearly worth much more than the current market cap.

2. I think you’re broadly right in your comparison between FGS’s projects and MAST’s.

3. I think there are three main reasons why, despite the above, the share price has struggled around or just above 2p. The first and most important is a general distrust or unease in relation to this company (harking back to the Regency days) and/or Parsons and Kaintz as individuals. The second is a lack of confidence that Burwell is going to be successfully sorted out. This is important because Burwell was/is the flagship project. Personally, I’m not sure what that Pigeon lot are up to and I don’t quite trust the situation - and if Burwell bombs so will the share price (and, however unfair it may seem, the peakers won’t prevent that). Third, Corcel currently has an ambitious list of projects but no income. I remember that after the last placing the board said they didn’t want to do another one until the share price picked up. That’s a noble ambition, but at the end of the day if they have to raise to keep going they will. That creates, in my view, a sort of race against time to close the peaker projects (which would bring in some cash). Will that happen before a raise? Maybe. But I won’t be completely shocked if there’s a placing before the peakers reach financial close.

4. For those reasons, although I think Corcel could fly given the right news in the right order, I consider it to be a somewhat risky investment in the short term. Perhaps some others feel the same way.

All that said, investing is about calculated gambles and I wish you all the best of luck!

I completely accept the risk of getting it wrong. And I’m not willing it downwards either, what will be will be!

I am tempted below 1.45 but my tipping point is probably below 1.35. The trouble with this share is I think it could go a bit lower short term but it has the potential to suddenly go vertical (particularly if Burwell gets done) and I am worried about staying out. Tough one

Has been a particular delay? The placing RNS which stated drilling would begin imminently was only 6 business days ago. Are those of you who are talking about delay expecting an RNS on the start of drilling or something? Or on the completion of hole 1? Isn’t it more likely that it’ll be later in the process that news comes?

I sold about £30k in the past week. I figure that’s potentially enough to move the SP in a share like this, which is why I thought it was worth mentioning and making clear that there was no merits-based reason for it, just a gamble on what happens next in the short term

Hi all

Just to let you know I’ve sold out of Corcel over the past few days. It’s a pure trading decision as I remain positive about the value in the company’s projects if executed upon. However, I’m sceptical about the legs of a c. 40% rise apparently based merely on anticipation of, and then the fact of, a research report. Clearly I now take the risk of being out if/when Burwell or Wowo lands - that’s the game at the end of the day

There’s been very little stock available today and yesterday. This is being held down by lack of stock, not by the balance of buys and sells (which is basically 100% buy)

Namibia was badly hit but their cases peak was at the end of June - a month ago. Cases are much lower now, close to where they were prior to the big spike. I don’t think there’s any reason to expect Covid to cause particular delays, we just need that investment finalised

I’m glad we’re not getting distracted by the tailings at the moment. It never looked that exciting to me at present silver prices, and the last thing we need at the moment is a project with relatively high up front cost and only a moderate return. Hopefully the economics will look better sometime in the future. In the meantime, eyes on the prize

I already had plenty of these shares but have bought some more today. I just think it’s a stunning investment at these prices. My view is it’s maybe a 20% chance of losing 20% versus an 80% chance of gaining 50-1000%. DYOR of course

In a recent interview Scott was saying gas peaker projects targeting financial close from about September I think