Member Info for Mr10cent

Mill information all available on company website. Mill mentioned by Ed in every interview or presentation since his appointment. In summary and my personal view;

1. Mill project = good idea but poor execution

2. Mill partner + GWMO team not big enough to deliver

3. Switch it on…and it will drain cash further

4. New CEO assessed the situation and it’s not priority for him

5. Brian Hall (chairman) to handle all questions on it

6. It’s a project “on ice” to be returned to when either of these things happens;

A. GWMO has so much cash from other projects it can fund it

B. The JV partners buy it off GWMO

C. A third party commercial deal lands in GWMO lap

D. The US Government buys/funds it

E. It’s on the balance sheet & will be utilised by the finance team in future….

Bloody annoying as I believed in the logic of it and bought more on the strength of the logic. Where is the dore bar?

The raise at 1.4p hasn’t held the share price back and when those warrants kick in the company gets £4.6m cash. If at 2p the market cap is £8.5m and we’ve got £3.5m cash then in theory the warrants cash would give cash of £8.1m. I know it’s not as straightforward as this but that would give you a share price of 4.6p all things being equal. I think the raise and warrants gives a fresh perspective/momentum to the company. Th funding is known. We don’t get the gut wrench bargain raise the next time we get positive news!

From report;

In January 2026 the first tube trailer was delivered as the plant underwent planned final

technical readiness checks and optimisation. A standard steel helium tube trailer holds

approximately 170,000 scf (170 Mscf). Based on the metrics presented in the Company’s

recent presentation, each filled trailer represents a gross value of between US$59,500 and

US$102,000, based on gaseous helium pricing of US$350 to US$600 per Mcf respectively.

Last 6 months costs £1.7m see reports. So £3.5m+ fund raise sees the company through 12 months.

Helium revenues from USA should be consistent then and we will know where we are with partner in Rukwa so this should be the last raise…

This is exactly how the strategy was presented. Galactica was to generate revenue/cash flow for He1 that would go some way to funding the business while they get Tanzania up and running.

The Galactica project appears to be there or there abouts so it feels a little disingenuous to say the funds are for this. It’s probably fairer to say the cash flow hasn’t started to come through quite as planned as gas was supposed to be pumped in Q4 December yet here we are end Q1. Regardless of the explanation the raise is happening. If it all ends up going on Rukwa and bringing it to life it will be irrelevant but the funds in the bank now allows the team to focus on the strategic priorities which should lead to better outcomes for all shareholders

Https://www.londonstockexchange.com/news-article/GWMO/extension-of-tungsten-project-area/17507709

I'm not so sure. They have a significant upswing for exchange rate in the comparatives and the container costs won't impact the results update due in a few weeks. Forward guidance will be challenging but if they can deliver what they said they would even for one year it makes their current £21m valuation interesting.

Its all down to Kelso group RNS advising they now have 7% of the shares up from 6.6%. They argue The Works is the most under valued share in the UK right now and have written to the board to suggest ways to unlock the value. A "fair" valuation would see the share price somewhere between 70p and £1.13 based on EBITDA multiples with the lower estimate being based on lower than retail average. I personally believe the fair value is close to £1.

@aprogerson You came back? Can't help saying that without thinking of Magnificent Seven... One of the cowboys only comes to help because he thinks there is gold! You've got to do the tailings calculation again now with gold price...the mill, the tailings...got to be worth more than the new market cap with the placing and the warrants! WELCOME BACK THOUGH - YOU ARE A QUALITY CONTRIBUTOR!

“They keep replacing CEO”

David Fraser 2013-2019

Brian Hall 2019-2026

Ed Loye - starts next week

3 in 13 years with Brian Hall remaining as Chairman with number 3 yet to start so technically its 2 in 13 years isn’t especially high turnover rate. Ed gets a clear objective - Tungsten - and £3.25 cash, and £4m+ warrants to give him £4m more when he gets share price momentum above 2p.

Do you know the incoming CEO? If you know they are incompetent please share details because his appointment was met with positivity by many as he has experience of delivering elsewhere from the write up. If you know of project failures under his watch in the past it would be useful to research as they weren’t on Gwmo money and he no doubt learnt from the experience which may even be to Gwmo benefit

I hate the dilution but all things being equal the market cap just went to circa £6m with the warrants at 2p the market cap becomes £10m

If these funds deliver on tungsten and Gwmo becomes a third of gmet ie £100m it’s 10x from here

Then there is copper and gold and silver and tailings and mill to additionally monetise

Over to the CEO to deliver that one job…realise the tungsten and get Gwmo to £100m valuation!

Let’s see what happens to the share price now. All us retail investors are trapped until the CEO unlocks the value of the project

The incoming CEO needs to deliver any one thing on the list. Whichever he thinks is easiest/quickest to get a win and get momentum! So far we’ve been copper focused, then gold focused, then focused on monetising spoil heaps which led to funding the development of a plant & getting permits (never switched on) so we returned to focus on copper (apparently biggest potential lump of it for miles around!) and gold (available at shallow depths) Now we have tungsten maybe…like our neighbour! Deliver one thing and this share price rockets! Demonstrate delivery of the one thing and all opportunities are back in play! The commodities prices for every metal Gwmo have chased over the last decade are many many times higher so execute something and we will all win!

I remember the dore bar! Trumpeted up and down the land. Yet curiously never shown on any of the video interviews…would be worth a fortune if it could be found now…usually up to 25kg…clearly it’s not pure but what could it be worth with gold at $5000+ an ounce! Where is aprogerson with the calculation of the spoil heap values using $5000+ an ounce! Surely the new CEO is going to look at the detail of all this potential and formalise it into a coherent strategy that unlocks the value XX times more valuable than current market cap!!! Surely…

10x from here is £30m market cap or 17p a share. If tungsten is added into the mix alongside known copper, gold, silver, a mill and tonnes of tailings to be milled surely a steady flow of communication coupled with US government focus on Nevada exploration £30m doesn’t seem crazy…does it? Been here a long time and have believed in the hype before but surely…this is the beginning of a new rise, and finally a return! Need 50p for a chunk of mine to be in the black 😬

Market reaction to the update. Internet performance is a disaster but fixable! The stores performance is awesome! Patience is key! But someone needs to take responsibility for the internet and sort it out!!!

Popped into my local branch today. Lots of customers, well shopped , and limited Xmas seasonal stock left. Fingers crossed it’s replicated across the chain!

Silver set for best year since 1979 as China crackdown fuels rally

The above is the head line of a Daily Telegraph article. States that market for gold, silver, copper and tungsten set to continue upward trajectory but silver has had biggest yearly gain. China to limit exports so market set to be squeezed from 1st jan 2026. Now wouldn’t it be wonderful if you could find an exploration company in a global safe jurisdiction with gold, silver, copper, and tungsten mineral rights and a mill? Anyone seen a share like this before?

Don't forget GWMO also has a permitted processing site for the spoil heaps so they can realise this gold without needing any further support from others... yet they haven't turned the plant on yet.

16 working days to Christmas.

If you order on the Works website today you need to allow “15 working days” for delivery.

How is this progress?

Is demand so stellar no one foresaw it or can the new third party provider not cope?