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Not a huge raise but it does damage Mike's credibility I guess. At the end of the day in order to meet deadlines I wonder if there was any real alternative. HOPEFULLY, in the long run it's a blip in the road and any dent in confidence can be quickly repaired come the conclusion of the DFS.

But he needs to rapidly get to that conclusion now before we all start feeling we've invested in 'one of those junior exploration' companies...

Short term there will be pain with the SP - hopefully it will be very short term.

So I wanted to wait until OF had done the rounds with podcasters etc., chatting about the RNS past week.

It seems clear that OF is now really 'betting' (his own words) on a major rerate/revamp of the global/US-centric Tungsten market.

I know Many here , including myself bought in for the potential at Garfield and Golconda, which it looks increasingly likely that OF intends to progress so we continue to benefit (albeit in some diluted fashion) to the potential upside. But it's sounding increasingly likely that OF doesn't want to be distracted by them whilst he 'corners' (his words) the Tungsten market.

I think this will, at least in the short term, result in some pressure on the SP as some shareholders switch out that don't want that concentrated exposure to Tungsten.

This is a big bet by OF, sounds as though he's been heavily influenced by recent SIs in the US, telling him to go for it - the Tungsten bet.

We all know OFs view and the trigger points that'll justify it - a China ban, the DoD non-dilutive financing - the trouble is that's all well 'n good but if the market goes 'meh, I was interested in Garfield & Golconda, that's where market sentiment is right now' we could have a very stagnant share price for a very long time.

Honestly, I really hope OF's conviction is rewarded but my concern is this is becoming much more of a concentrated bet on Tungsten and many investors will have bought and held with a Tungsten potential in mind but also exposure to potential Gold & Copper through the other licences. I know there are other recoverable metals within the Tungsten deposits.

Still backing OF but a little concern creeping in on his current subjective view of the future - I mean who amongst knows the future it's all probabilities and bets, and I'm aware he has emphasised we will still benefit from any upside on Golconda & Garfield.

My question is I guess would G & G have been better bets than Tungsten?

I think the market, as it is, will go okay interesting - but how big is the resource?

SO we may have to wait a moment yet until the JORC is established before the decent, sustainable rerate. Assuming there is a meaningful recoverable resource - meanwhile the insiders have put their money where their mouths are - couldn't ask for more, at this stage

Haha

You forgot, 'Tungsten ban likely before year end'

STOCKBOX posted on twitter...r we due an RNS tomorrow can't think what else they'd be discussing...

Was listening to Sunday Roast yesterday - briefly mentioned AFP (they were trying to get Rick Rule to proffer an opinion, but of course he didn't know enough/(anything) about AFP). One of the things RR did say though was that he likes situations where there's a JV with a major to carry out the expensive exploration - tick.

Then one of the SR guys mentioned/suggested that although this is the case with AFP there may be a cash crunch/funding issue with FQ because of the Panama situation.

Whilst we're all too aware of the Panama situation I didn't think it was impacting their activities in Zambia with AFP. However, now I'm starting to wonder if it is having an impact and that's why we haven't had any real progress update in such an unbelievable long time.

Does anyone, who's probably better informed than me, have an opinion on this?

Only a few days left in October and yet they still have not announced the commencement of the oh-so-long-awaited drilling program. Ya' know the one that should have started in September.

This doesn't encourage new buyers which is what's needed if you want SP appreciation.

I have to say I'm looking at the date, drumming my fingers on the table and honestly beginning to wonder why we haven't moved forward by now...

Interesting, John Fenick states in this interview today that he now holds 2.4% of GMET

https://youtu.be/pcaOsqaLtoc?si=a4QisvR8G2Zoniw2

For all his style may have irked me over the last couple of years it is a sad day to bid such a big Irish character farewell. I grew up close to the Conroys in Dublin and had mutual friends with the Profs children. The Conroy name on the Irish stockexchange is one I can recall from those days long ago. Such a longevity in the public domain. He will be remembered very fondly.

I think POW has an investor sentiment issue and I don't foresee any quick fix there - they need to discover something big and have it as part of POW not farmed out to some other legal entity in which POW has a stake.

GMET was going gangbusters until Charles Archer started suggesting that POW might think about selling some of its stake to fund a $3m funding requirement in the KSA. It was about then that GMET started to come off, coupled by a statement by OF that PM was not yet defined as being an economical project - he was merely stating the obvious - I mean that's why they're going through the PFS process as a first estimate of what the figures might look like. But it was around this time when both of these statements were made that the GMET SP came off.

Frankly, I think this is an opportunity to grab more or to enter the stock, especially if you've been following OFs technical videos explaining the RNSs.

The market may also be little tired about being teased about US DoD funding - this has been going on since Feb '24. It may or may not arrive and IMO OF has done the correct thing and forged ahead with work on the properties.

With his latest stated intention to drum up US interest, it'll be fascinating to see what occurs as we enter the death throws of 2024. His previous efforts in the US have certainly resulted in US investor buying.

Why is OF teasing us about Golconda on X? is he finally going to drill there?

https://x.com/oliverjfriesen/status/1845676685137723558

OF definitely adds so much value, generating these videos & reviewing what is in the RNS because I certainly did not appreciate how good it was until he went through it in detail.

Incorrect, last raise on Aug 15th at 27p was not as a premium it was a discount - I recall the SP was in excess of 30p at the time, can't remember the exact price.

OK...I'm catching up on all the videos from the RNS this week and beginning to appreciated how great that RNS actually was. If the SP remains in the mid 20s I may have to think about picking up another wad of shares,

https://x.com/GuardianMetRes/status/1843580958274138326

Missed this interview earlier today -one of OF's best yet: https://www.youtube.com/watch?v=QF9UJAuoMXc&t=482s

Unless the sentiment is providing a fair wind to support the share price, I don't think I've ever seen rock-chip-sample results ever provide sustainable upward momentum.

Now if these were diamond drilling results with fair intercept widths it'd be a different proposition.

I was thinking about the apparent strong support that S Korea lent to BRES in obtaining the latest certification and noted Mike's comments about this opening up further financing options and I'm wondering if we might see some funding arriving soon from S Korea? Hopefully non-dilutive etc.

Thanks for the analysis Catbert, although it raises more questions than answers them.

Hopefully we'll be updated soon.

I'd postulate the people that count know exactly what was meant in the RNS - totally blown out of proportion.