Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
When asked, recently, by the SR guys (admittedly in a private conversation) OF indicated there were no current plans to raise, in response to some private presentations to potential investors and if they wanted stock they'd have to buy in the open market.
Not sure how much funds they have remaining but pretty sure they've spent bugger all on Pilot Mountain apart from whatever it's cost to put the grant applications together.
OF appears to be spending any monies on value creating triggers (aka recent Garfield work) if they get US grant funding for further PM work it leaves any remaining funds to be pointed at Garfield (or something equally as good).
I expect to hear pretty soon that OF is doing a roadshow to US investors that'll hopefully gather further interest (most probably after we hear about possible US grants). I'd also expect to hear in the next few months about the exercise of warrants bring in further funds.
This is a classy asset, group of assets, and I don't expect any silly decisions about dilution as this company starts to distinguish itself from other market participants.
A timely reminder of what's starting to happen in the Natural resource space, BRES is a good example.
https://www.youtube.com/watch?v=acvq0LxIYok
“Quality Projects Are Being Financed and Starting to Bifurcate” says Pro Mining Investor David Erfle
Let's see how this news seeps-in - the market reaction can lag genuine good news and there's limited fresh inflows into the resource sector currently, and graphite ain't one of the sexy resources right now.
There is a scenario whereby the market digests the news with the overriding sentiment that we're looking at end of 2024 before DFS completion and a true rerating triggering event occurs which will limit fresh market inflows - ofc then Mike could recruit another strategic partner or the existing ones continue to add funds...
Yes I am!
I've a wad of cash landing next week and was hoping the price would continue to languish just for another week.
I can only hope now there'll be some profit taking based on the astute buying last week, because people can't read a financial statement and understand it's historical, that'll weigh on the rerate.
I know it sounds like madness, but I'm hoping fresh funds don't flow in, although by the 3rd DFC payment I think it's almost impossible that BRES is not noticed by a wider group of investors...
Hey-ho, sigh...
@levi CB says a lot on these interviews without actually saying much. Or at least much of anything new. But I guess exploration is a slow process.
I haven't been that impressed with his negotiation abilities in the past neither.
World needs copper but markets aren't paying up for land packages. CB seems to staking potential success on grabbing land hopefully close to another outfit that does find something.
Not sure passive plays are rewarded in this market. But with FQM perhaps AFP isn't that passive.
Really don't understand the motivation, TCM, of the constant (and sometimes utterly bizarre) negative commentary. Has no impact on the sp and must occupy a significant portion of your day. You'd be better off chanting or something.
O&G is not trendy at the moment - this is a tremendous opportunity if it can survive, PING confirm the JV by end of Q1 (possibly/likely drift a little into Q2). But there are so many opportunities in the market at the moment the only real way these things are going to lift (save getting into production and being revenue generating) would be new money retail & Institutions returning, realising that the valuations here are unmatched elsewhere in the market. Family offices have been redeeming from the Funds, forcing them to sell never mind fresh investments.
This isn't going to happen overnight, traditional sp triggers no longer seem to work and I fear we're going to see acquisitions with small, if any, premia.
Hi guys,
Been following here a little while but haven't pulled the trigger yet. Was listening to the mid-week SR interview: https://www.youtube.com/watch?v=VvJD9yMjBf8 and honestly came away with the impression (perhaps falsely) that C.Bird et al are more enthused about the prospects for GLR / XTR than AFP.
Q: Is that a false assumption on my part?
Or is it just that with the deal done with First Q, they see the AFP destiny a little removed from their control?
@fairview - yes I keep telling myself it's all part of Phase 1 objectives - but still you'd like to hit something with decent grades - I mean it's great we're hitting gold everywhere but you wouldn't build a mine in any of those places basis the results - ok yes that's not the objective despite the Prof saying by the end of 2023 they'd have sites chosen - utterly stupid thing to have said at the time.
There has to be something in Phase 1 that's going to keep Demir into Phase 2, I'd like to know (from a geologist what that is). I guess the decision on Phase 2 must be coming up fairly soon though, right?
Admittedly these drill results are not exciting me - but I'd really like to hear from a geologist in the project, not the Prof C speel.
If Swanny still looks in here, basis his visit to the site recently and these results is he still feeling confident about the investment here?
I guess at these prices limited downside, given Demir paying for everything - I think their decision to proceed to Phase 2 will be illuminating.
I don't know if this company will ever get PM /Garfield to production - not sure I'd want them to anyway. More likely OF develops the business case on these opportunities and either sells them or we take strategic partner that's likely to make a full offer on the asset as development increases.
@andoman - by the end of March we hope, but wouldn't be surprised if that deadline slipped a couple of weeks or so going on past experience.
It will be positive if PING confirm go ahead but after the fizz-out last time I wouldn't speculate how far or for how long the sp will go. But if Ping move forward it's definitely long term supportive for ORCA
I wouldn't guarantee anything in this market.
I agree O&G far from over - politicians echo loudest voices (of ignorance) fact is peak oil by 2035 is ruddy nonsense, it won't be at least until 2065. As Rick Rule said $1tn investment in renewables has reduced our dependence on fossil fuels from 82% to 81% - big ruddy wow.
If HAA does pull off this large financing raise I think he and the team deserve a lot of credit - it's downright impossible for small explorers to raise any kind of finance in the market right now and to raise nearly 400m deserves a bloody big slap on the back. We've already had the nod from the initial bank, the in-country Ethiopian money will be lining up, for obvious reasons, and I'm pretty confident the second bank will give the nod pretty soon. Honestly, we shouldn't listen to the demented detractors on here, this will be a major achievement and deserves praise.
BTW notice today and high net-worth Saudi has just invested in the raise for POW, expect Saudi appetite for this type of investment. POW now a player in the KSA too.
Further, note who announced they were joining the BRICs nations yesterday - by this, these countries have more or less announced their intention to continue/accelerate de-dollarization. That means they need a replacement, a counterparty-free, store of value, physical replacement like GOLD perhaps? SO you know the first obvious step for these countries would be to develop in-country gold resources....just saying... keep an eye on the macro.
Indeed, very good news, but I'll be interested to see market reaction. The way things are at the moment I'd almost expect an initial blip and then a fizzle.
I think all eyes are on moving the existing JV with Ping forward by the end of Q1.
Let's see...
Looks like OF presenting at the London Stockexchange tomorrow Feb 1st.
https://www.lsegissuerservices.com/spark/GOLDENMETALRESOURCES/events/57d8a5cf-7f55-4afa-9be1-bc3df09bb528