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Bobbust; I am inclined to agree that GMET and FCM look promising. However, the decision whether to buy depends on whether their prospects are better than the alternatives. The bid -offer spread on these junior miner/explorers is usually so high that investors will be reluctant to change frequently.
In my case I recently bought some more POW at 0.7p. I am keeping RBW, JLP and GLEN for now because they have assets in the ground. I sold ECR and PALM because they have hopes and nothing underground.
The magazine, Money Week, had an article last April saying THS was a really good buy at 97p. Just recently it ran another article saying the same adding that THS is "ridiculously cheap" at 60p. I am inclined to think both articles are correct. I have been watching and waiting for the SP to stop falling. I notice that Jubilee Metals, JLP, which sells PGM and copper has also been falling.
Many comments here are too pessimistic. The magazine, Money Week, has an article saying there is plenty of copper, silver and gold at Cascabel and in effect worth the risk. The article says SOLG may be bought sometime at a premium.
I agree. I might add that JLP's assets are real, the minerals really do exist. There is a minimum value to copper, chromium etc which will survive recessions. The assets of shops, fizzy drinks and holiday companies can fall to zero.
Thanks to all the contributors who have made constructive comments. I first bought Sept 2021, it was 3% of my portfolio. I have lost half my investment. I have just bought another 3% because JLP is doing what I expect and the price is lower.
One objection I have to JLP is that South Africa seems unable to generate electricity as required but an RNS did say an alternative is available.
My logic to buying JLP also applies to Power Metals, POW, although the business model is quite different.
A vote of confidence? No, more of hope.
No, I have not sold and you are correct; until I sell I have not lost anything. However, with the benefit of hindsight I should have sold weeks ago when the price was higher and then buy now.
BOIL is not the only share price to fall. I also hold shares in HZM (nickel), JLP (chromium, copper), POW (uranium), RBW (rare earths) and they are all falling as well. I console myself with the thought that the assets are real and in demand so, logically, the price cannot stay down for ever. In BOIL's case gas and oil have a ready market which will not go away.
There have been comments about his subject recently. The way I see it selling high and buying low frequently is unlikely to succeed here because the bid/ offer spread at 11% is too high. I bought BOIL because the assets more than justified the share price. That has not stopped me losing badly though! I am stuck waiting for a rise.
TamerInvestor, I spent 20 years as a chemical analyst but that was decades ago so I am a bit out of my depth here. The difficulty with gold is that it is likely present in nuggets or grains. If you sample a grain you get a high figure otherwise you get a zero. Rare earths may be more evenly dispersed but care is still needed to take a representative sample. When I started (50years ago) the boss told me most errors occur at the sampling stage and I soon found out he was right. The labs in Australia or anywhere will have their procedures for sampling, identifying and analysing and will probably not change any of it because the customer wants their results quickly. Once the samples are in the lab modern instruments should give good results easily in trained hands. The people and their instruments are seriously expensive and the owner will want to make sure they are in use all day every day and that might mean delays for the customers.
Analysing an ore for rare earth elements may be more expensive than for gold because there 13 REE and therefore 13 figures have to be given. When I was at work a typical charge was £10 per element per sample.
Portable X-ray fluorescence taken onsite can give useful information quickly but results from a laboratory will be more reliable.
Money Week has an article about platinum by Dominic Frisby. Issue 1149, 24.3.23. It likes the prospects of platinum but notes that it has disappointed in the past and sees three reasons why it could do so again. Tharisa is the company to buy though. It likes the long life left in its mine. Also Karo, the new one being built in Zimbabwe.
I read articles on commodities frequently but I dismiss many as paid for articles. This one comes across as much better as it contains facts and figures to support the claims.
There is a short section from the CEO in this video. It all sounds really promising but all my investments in industrial metals are down badly.
https://www.youtube.com/watch?v=8fwy6PXUe6s
Legalwolf, Thanks for this. You are correct and I would add that investing anywhere in the UK is risky. Everyone we deal with is out to swindle us. My father received 7% from a building society investment account for his 20 years of retirement. No one is giving that now.
You may all have seen this article a month ago but just in case .....
https://total-market-solutions.com/2022/12/panther-metals-plc-dec-2022/
The long article by Total Market Solutions is well worth reading beginning to end. PALM gets a description and a good one. If you are invested here there are two links at the end worth reading. The Oil and Gas article mentions several promising small companies. I am thinking of 88E. The article "12 companies to follow in 2023" mentions GUN which looks worth considering.
A couple of comments here mention titanium. The RNS said tantalum and the two are not the same. Titanium is a plentiful element and we can have as much as we want. There is a preferred ore for extracting the metal and even so the extraction is expensive. Working the metal is also expensive. If parts made from titanium are expensive it is not because the world is running out of the metal.
I like the optimism shown here but I still worry POW and similar explorers are risky; most drill holes reveal worthless dirt. PJ himself said most projects fail. Nevertheless, I am breaking one of my rules to diversify and I bought some more shares today. I may well buy more if the price drops.