Member Info for oilmanmike

Evening Nobby

Hope you are well.

We still have 10% of the company

over in the Telechat group.

Many have averaged down and are close to

turning a profit

They are prohibited from shorting

Ticking up again

Volume picking up and price pushing ahead slowly.
Chart looks good with a potential ‘gap up’ to 55p
Which would be nice.

When reviewing our excellent drilling results from the Molaoi Zn/Pb/Ag/Ge deposit in Greece (7.18m @ 13.4% ZnEq), it is worth recalling our RNS from 23 May 2022, in which we said "Molaoi may grow to a globally significant size". #Rockfire #Molao

https://twitter.com/Rockfireplc/status/1622832005196165120?t=y_N8tlZye05kUJIx0eXWdg&s=35

Interesting comment from management re the zinc deposit at Molaoi

pwlx
Thanks for sharing

What do you believe the recovery potential is here

In the longer term, should it turn out to be a 1m oz Mt Wright replica (as DP believes) the 1.5% royalty is worth around $28.5m in total

The cash flow study they did a while back had a top case of $20m but was completed with gold at 1720.
Sunshine are our ‘neighbours and have run out of dirt for ther nearby processing plant.

The work commitments total $2.9% which values our retained stake at plateau at £604,000
More importantly is the 50,000 near surface gold which at $1000 profit per oz is worth a total of $50m and so should the open pit operation proceed our 25% is worth $12.5m

Critical tonnage for a mining operation is 500,000t zn eq.
The maiden jorc was for 0.25Mt and they are very confident they can double that in the JORC resource area to the south. Recent news has indicated the northern extension, which can triple that , is way more de risked than the market thinks

I have calculated £140m NPV(10) per 0.5Mt Zn Eq which is just shy of 10p. I can post the parameters used if peeps want

Further derisk the zinc imo

I am happy with the operational progress Rock have made over the last 12 months, yes. The share price performance has been very disappointing for a number of reasons.
Still we are where we are, alongside many other investors in the micro cap exploration sector. I do not know RMM very well but I can see they need cash. The sector has been starved of capital for many many years but imo is starting to turn with the improving demand for metal, particularly ‘forward looking’ ones. Yes we will get our money back together with a healthy profit.
I wish you well with RMM and your other investments in this space. It is a question of how long and how much as far as I am concerned and at that point we have to disagree.

Although having read the SP Angel note on RMM the 168p on I can understand your dislike of brokers notes.
And so the same thing applies to ROCK as it does to RMM

Those living in glass houses should learn not to throw stones.

Since the recession of 1991 the ave house price has increased over 400% , from £50,000 to £270,000+ and so
If the professional who did the valuation had have bought it they would have made a nice return.
The real problem with your analogy is that it is the lack of buyers during recessions which leads to low prices not the lack of value. As prices drop as long as nothing has changed value has to increase. It is a very basic premise of investment .

‘Try harder next time that boy’

Allenby Capital website

26 page brokers note.

*************c/1586587421/85988

Has now commenced.

https://www.linkedin.com/posts/dionysios-chionis-2a840928_rockfire-zinc-molaoi-activity-6998918929112805376-BozP?utm_source=share&utm_medium=member_android