Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
RMB / Rod - With anything like 500 people accessing the Zoom meetings surely it is appropriate to list some questions/ suggestions beforehand and give these to Mr Cotter to address. Some people may not be confident in asking a question in front of a large audiance. Others may have a large number of questions. Some will wish to ask follow up questions on Zoom. Give as many people as possible a fair chance to ask a question. What do you think? If so, where do we post our questions?
Hi Speedy, I purchased £502.66 worth GGP shares May 2018 at 0.582p;
6 years later at 6.10p up 1,008% = £5,067.46
more years later say at 500p up 82,916% = £416,782.50 thanks very much!
And by the way I have it on good authority that lightning can strike twice:
https://www.britannica.com/story/can-lightning-strike-the-same-place-twice
ATB Emc2
Page 27 (2nd affidavit) para 68(b)
"two oil producing units"
Anyone think this could possibly refer to the two 'secret wells' ? Worth $105m??
(ii) Non-Current Assets
68. As at September 30, 2023, COPL’s non-current assets consisted of the following
(approximate values):
(a) Exploration and evaluation assets - $5,336,000
(b) Property and Equipment, net (relating primarily to two oil producing units) –
$104,981,000
(c) Right of Use Assets – $57,000
(d) Long-term deposits – $603,000
I bought into UFO for a gamble on silver. Whilst UFO was chasing a silver mining dream I had high hopes that I had made a good long term choice particularly when witnessing a share price rise 0.30p to 3p. Indeed I recall back then that UFO was given a slightly higher prospective rating than GGP.
With the Silver price about to shoot off to the stars in the next 12 or so months why oh why is UFO grounded at 0.12p by heavy iron chains! Not much of a binary choice for an investment for my grandchild worth a paltry £400 now! If it can survive it needs to get back to +3p within the next 9 years.
From Monitor report 15 March 2024
"5.1.2 Qualified Bids
1. To be a “Qualified Bid”, a bid must meet the requirements outlined in paragraph 7 of the
SISP, including, among other things, that it:
a) provide for aggregate consideration, payable in cash in full on closing, in an amount
equal to or greater than:
i. all outstanding obligations under the Senior Credit Agreement (anticipated to be
US$44.46 million), unless otherwise agreed to by the lenders thereunder;
ii. all outstanding obligations under the DIP Term Sheet (anticipated to be US$11
million) plus cash consideration of US$250,000;
iii. any obligations in priority to amounts owing under the DIP Term Sheet, including
any Charges (anticipated to be US$500,000 and $3.5 million); and
iv. an amount to satisfy the Bid Protections (anticipated to be US$500,000)
(the “Consideration Value”), which is estimated to be at least US$56.71 million and
$3.5 million in the aggregate; (more follows)
5.1.3 Auction
1. If no Qualified Bids are submitted by the Qualified Bid Deadline, the Stalking Horse
Purchaser will be the Successful Bidder (as defined in the SISP) under the SISP.
2. If one or more Qualified Bids are received by the Qualified Bid Deadline, the Companies
will proceed with an auction process (the “Auction”) in accordance with the SISP, including
as follows:
a) bidding at the Auction shall be conducted in rounds. The Qualified Bid that represents
the highest or otherwise best Qualified Bid as determined by the Applicants, in
consultation with the Monitor, shall constitute the “Initial Bid” for the first round, and
any bid made at the Auction by a Qualified Party (as defined in the SISP) subsequent
to the Applicants’ announcement of the Initial Bid (each, an “Overbid”), must be made
in minimum cash purchase price increments of US$250,000 above the Initial Bid; (more follows)
6.0 Cash Flow Forecast
1. A copy of the Cash Flow Forecast prepared by the Applicants, which was reviewed and
discussed with the Monitor, is attached as Appendix “C”. This is the same Cash Flow
Forecast that was appended to the Pre-Filing Report and covers the period from March 7
to June 1, 2024. The Cash Flow Forecast contemplates that the Applicants are able to fund
their businesses within the confines of the DIP Facility. (breakdown follows but not included here)
We now know that dewatering of the 3rd aquifer needs to get down to 20 litres per second (it's something like 9 and 16 lps at the higher two aquifers), however, with hindsight perhaps someone should have asked what was the pressure to begin with and what it is currently? BUT if Newcrest had not started the decline where would GGP be today?
July 2020 estimate 300,000 x 15 = 4.5m oz (share price range 12p - 14p)
Dec 2020 Maiden Est Res 4.2m oz (share price range 34p - 38p)
Mar 2022 MRE2 6.5m oz (share price range 13p - 14.5p)
Dec 2023 Est MRE3 8.4m - 8.7m oz ?? (ie 4.2 x 200% ; 6.5 x 35% ??) (est price range 10p - 12p ??)
Hi Bamps
Thanks for the information. The next time we see photos of core or rock samples I try to look for the sulphides.
https://www.youtube.com/watch?v=1D7-erOh2FI
@Doverman - oh no Clive had a huge grimace on his face because I was sitting a few feet from him and I f*rted - just adding to all the hot air! Actually, there was an attractive woman sitting next to me - enough said.
Hi Bamps
You might remember my shock at the first town hall meeting 21 March 2022 re expectations of a very low valuation for the 5% - of course in the end Shaun delivered a much better outcome and we have kept the whole 5%. I hope initial expectations are not similarly dashed with the MRE; can only hope Shaun saves the day again.
I realise that the best is yet to come but how far into the future?
My cup is literally half empty as I decided to sell GGP shares from my personal holding although rather unfortunate with the timing of the sales. However, I can still count myself as a long time shareholder and looking for that steep climb up the second wave of the Lassonde chart. Emc
"I’m not excited about this MRE at all" nor am I after the AGM and nor are the Board looking at their stoney faces during the question on the MRE. To me it seemed that the one time Directors seemed animated and smiled was when Mark Barnaba made his closing comments and the meeting ended!
Hi Bamps - thanks.
I doubt that you would have got a chance to speak to Clive - he was held up ahead of the meeting by transport disruption and after the meeting we were asked to leave the room pretty smartly.
With so many shareholders only watching the AGM on line and voting by proxy through the Chairman I am wondering if that could be the last AGM meeting room used in London. Could they switch to only digital in the UK with the 'hands up' part of proceedings in Perth?