Member Info for PaulFG

Listening to the news today with the US permitting Ukraine to use ATACMS to attack targets inside Russia - interestingly ATACMS also has a tungsten ballasted penetrator made of high-strength steel that can penetrate reinforced concrete.

You see the immediate impact on US military with China seeking to limit Tungsten exports to the US.

Stockbox interview this morning: https://www.youtube.com/watch?v=D1cMk_W4vJ4&t=205s

Looking to complete the PFS Q2/3 2025 - not far away at all. Timing is all pretty good.

Charles Archer has discovered one US SIs (https://cdn.prod.website-files.com/64ad9ebf471cc7fb1c7ccc68/672ba3d736a2387d973874c6_HistoricalHoldings.pdf) Goehring & Rozencwajg, I suspect the other one is most likely John Feneck who's on the record as holding 2.4%.

Given the news over the weekend and the hints OF has been dropping recently that there has been renewed interest in Tungsten projects, I wonder if we might finally start to see some more US-based activity to get exposure to the metal on their trading books.

Would not be at all surprised if there's another headline in the coming weeks about another strategic investment.

A couple of good assay results right now would be perfect timing.

Https://asia.nikkei.com/Spotlight/Supply-Chain/China-to-tighten-export-curbs-on-critical-metals-ahead-of-Trump-s-return

I know it's macro, but it's gotta be supportive of quality projects like BRES, especially with their plans to process outside China.

Gotta hand it to OF, he called this one well ahead of time and perfectly. The new project, if it concludes successfully after his due diligence, will also be a major addon.

With this news you gotta think that DoD grant funding should be accelerated - but we're still dealing with bureaucracies.

SP wise, I've learned not to try and predict, but it's certainly at the very least supportive if not bullish.

No idea why someone would accept such a premium on shares, unless it was agreed in principle a while back when the shares were at that level. Still a great deal for GMET.

GMET has about £4m, maybe slightly less, in the bank. No i

I would agree inasmuch as I don't think there has been any KSA premium built into the SP - mainly because as we know there have been major question marks over whether HAA can get the TK financing over the line - that's what's held the SP back. What's happening now is that we're surrendering that potential KSA uplift once the TK financing is announced, but crystallising the remaining part of our investment now. As to how much of that future KSA potential can be grabbed now in the crystallisation is up to HAA's negotiating skills. (I would suggest, given the tenacity demonstrated by the KEFI team that they will be decent negotiators.)

After that, the question is what they'll do with the cash injection - coupled with the injection they're expecting from floating on the exchange in Ethiopia.

Excellent news

This is what sets BRES apart from other juniors - say a thing...do a thing.

Great to see them getting on with the drilling campaign immediately.

I know it's totally frowned on on here to have any type of criticism aimed at OF, but I'm not sure I totally approve of our CEO twitting vague data on rumours, such as: https://x.com/oliverjfriesen/status/1855927958306722213

"Don’t have a ton of details but i’ve heard multiple groups now searching around looking specifically for U.S. based #tungsten Projects. This metal is about to have its renaissance. Very exciting for #gmet."

I've always detested the wink-wink nudge-nudge CEOs. Come on OF you're doing so well, don't fall down that route.

I think every time I've bought here it's shown as a sell.

Insiders recently put in £500k in the recent raise. That's good enough for me. That's the best lead indicator.

https://x.com/BlencoweRes/status/1854850300592394365?t=QTQ_wqv42qCtabdGEBHz0w&s=19

I can't believe, or can I (?), that there is still no news on the commencement of the Sept drilling programme!

I mean they're not even giving some ridiculous excuse that they don't want to upset the bureaucrats (?!?!).

They have all the necessary permissions to get this started, so what's stopping them now?

Until they start the drilling the, possibly up to 6 months, countdown to officially recognised drill results can't start.

Whilst OF has been X'ing many upbeat and encouraging messages, feedbacking from the Tungsten conference in Barcelona this week it has been somewhat balanced by the Trump election victory.

Although Trump is broadly viewed as being positive towards the mining sector his support is more by way of cutting the red-tape and enabling permitted activity more rapidly, he is not seen as being supportive of a grant system - one of the supportive factors that have underpinned the GMET SP.

With that in mind, unless GMET manage to secure the grant funding before Trumps inauguration I think we have to reduce the probability of securing such funding. I think this may have been one of the factors that have resulted in the recent SP retracement as the market began to increasingly predict a Trump victory.

I also suspect that OF may have been advised on this possibility and this may also have been a factor leading to the recent RNS announcing the possibility of another Tungsten project.

OF's determination to concentrate on the Tungsten assets in what may be seen as an increasingly critical US-military metal, not ignoring the other uses, may in fact provide shelter from the upcoming turmoil in the US junior sector should Trump, as expected, start the dissembling of the IRA initiatives.

@DVH, top slice 10m! Jeepers, how many do you have? lol

I just hope there isn't another placing atop this rally

It is always my curse to buy too early also. But I know if I don't buy too early I'd find it impossible to buy too late. It's rare I buy something and there's a near term consistent uplift - recently GMET was the only share where that happened for me.

I am a little bemused by the current immediate market reaction to this news. I would have thought the fact that conservative financial institutions are will to loan more is broadly positive, underpinned by underlying commodity price trend.

But I've long felt the SP was being held down - God knows there's enough shares floating around out there in so many hands that can facilitate that exercise.

I know people go on and on about HAA and his antics - but honestly that tenacity and knowledge of how to get things done in Africa is what was needed to launch the Ethiopian project.