Member Info for PaulFG

@roger I think the market was previously expecting a grant decision Q4 2024, those new charts indicate that either the decision or the granting of the grant is delayed into 2025 - could be another reason for the sell off.

I posted a video link here yesterday from an interview that does highlight that the US is moving very slowly in this area, despite all the blah blah blah. SO is it Q1 Q2 Q3 or even Q4 2025 now?

The positive: OF was probably made aware of this lethargy in the US bureaucratic circles hence our slew of SIs this year that's enabled him to forge ahead with the drilling programme.

@roger - I hear ya. The thing is that it sometimes feels as though OF has been schooled by PJohnson in PR. That approach didn't work for POW and the market - at least investors - don't like it.

In fairness to OF he only stated the facts, he did stumble over it a little, but I think the bigger fact was that I don't think he had stated it before - so perhaps to the naïve thought they already had an economic resource - because of the constant repetition of ' the largest undeveloped Tungsten resource in the USA' - he never said it was economical to develop but you can understand why some peeps may have thought so because this line was delivered in every interview multiple times.

I'm not sure what the motivation is behind the current decline - could be a number of factors, as I've hypothesised earlier - like you I agree, drill results dependent, this is still a very exciting investment opportunity BUT I want to see drill results and analysis on Garfield & Golconda to at least KNOW about them too, rather than hypothesise over magnetic analysis.

@roger - I agree the tone didn't feel as upbeat compared to when he discusses his hypothetical models. Drill machine tells it as it is. Perhaps he thought about it also as this morning a he posted this on X :

'What a September…

-“Freeze” zone discovered at Garfield returning 15.56%* and 9.58% CuEq* (!!!) with 7 of the 8 samples returning >1.75% CuEq*.

-Porphyry West mag anomaly inversions show much larger anomaly than Porphyry south (!!!).

-Brand new North Target discovered at Pilot Mountain (PM).

-Geochron results show two key mineralizing events at Pilot Mountain.

-First hole of PM drill programme reported returning a whopping combined 38.7m (!!!) of high-grade tungsten, including high-grade sub zone of 8m @ 0.84% W03 (!!!).

-Significant by-product metal credits throughout all intersections reported.

-Further speculation from industry experts that tungsten bans from China are highly possible before year end (See antimony for what transpires if that does happen).

-Gold prices hit all time high (Golconda), silver/copper prices surge (Pilot Mountain credits/Garfield).

-GBP-USD hits two year high, in-country costs become 10% cheaper compared to a few months ago.

All in (checks calendar) less than three weeks work….'

Lots of righteous indignation, almost panic pumping, on 'X' about the Share Price, have to smile.

It'll be what it'll be - doubtless it was due a pullback sometime, and it is September!

As I'm not trading, and believe in our value proposition long term, I'm happy enough to watch and if the drop provides a level I didn't think we'd see again this year I'll happily, probably, pick up more. I wonder if there are panicked warrant holders possibly selling to finance the 17p level and booking a little profit - guess we'll know soon enough. Or is POW in the market looking to offload a chunk to finance its own ambitions ( a possibility highlighted by Charles Archer recently)?

OR is it been driven down to accommodate another SI? (Colour me cynical)

What is clear to all of us is that because of the share structure it honestly doesn't take much volume at all to move the share price, so next drill result RNS...who knows...

Https://youtu.be/ePJaQaMCTk0?si=eQ9tYwU4NqHZ97Ca

Very interesting take here on many things including US government funding and how well it's not going. Slow, oh so slowly.

LW - no. I'm still a believer since I started buying sub 10p, haven't sold one share yet.

So the interview yesterday with Stockbox https://www.youtube.com/watch?v=HTOqCaOKGco was interesting for a number of factors:

1. Although OF restates in every interview that PM represents the largest undeveloped Tungsten deposit in the US he also made it clear yesterday that they haven't established if it would actually be economic to develop a mine - something which I think many posters have taken as a fait accompli.

2. The RNS yesterday did include those overlimits OF signposted in the previous RNS - I for one didn't notice anything that would have represented grades worthy of the description and it would have been valuable/interesting if Mark F had pushed him more on this.

3. It's clear and perhaps correct that the company is concentrating on exploring this resource (PM) but I would like to see activity on Garfield & Golconda soon - don't want GMET to be perceived as a one project outfit.

For me there are risks inasmuch as you can't post everyday about China possibly banning W exports - if it happens great, but what if it doesn't - have you enticed investors on the 'near definite likelihood' that this will occur - what then to the share price if it doesn't happen?

US Grant - people have been going on that this is due any day/next month since March - hasn't happened. I KNOW it's on the gov't tracker but that doesn't mean it'll be granted or if the funds will be anything meaningful - I know the probability is on our side, but it's not a done deal.

I'm still incredibly bullish on GMET but would like to see us develop data on the other two opportunities, especially so if the grades on PM aren't going to get substantially better following the current drilling activity.

Definitely a positive update - don't know how you could read it otherwise.

Government seems to be chomping at the bit to get started, big financing banks appear ready to go, just gotta tie up the final loose ends - as HAA signposted there were many parts that needed to align - the planets are forming that straight line, very close now by the feel of it.

I'm interested to hear what others think.

None of these grades seem great to me, silver appears to be best (?) and yes I think the Tungsten grades are improved compared to what we have currently, but still not great.

I certainly don't see the over-limits OF spoke about in the previous RNS - perhaps in another RNS coming soon.

I guess the best thing here is that it adds to the overall geo picture and will help direct further exploration.

It's a journey right, we have analysis of mineralisation in this first hole, which is what I wanted to see - perhaps grades at this stage are not the big win - we have metals and this validates OF's approach - measure measure measure...cut.

Re DFC - no I got the impression they're very much still in the picture, but it's looking that financing (to include the plant) is coming in around $100m so most likely to be a syndicate.

Also no one should underestimate just how long the financing will take to commit - seen this with KEFI - I'd say we're talking min 12 months from the completion of DFS.

3 excellent programmes, related to current business, game changing, will be brought to the market short term...

Financing - 3 banks (African, Korean & European) Anticipates 50% debt funding

Short term SIs - possibly up to 3 others in play in addition to the guys having admin issues in relocating their fund

Right now it does feel that if you trust Mike then exciting times ahead, if you don't then perhaps buy on announcement.

Always a positive to see consultants accept payment in shares instead of cash. Also good to see that basically all the shares are issued at prices above the current trading level.

Looks like Biden-Harris set 25% tariff rate on natural graphite imports from China from Sept 27th:

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/091324-us-to-go-ahead-with-modified-section-301-tariffs-on-chinese-steel-aluminum-critical-minerals

Https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/091324-us-to-go-ahead-with-modified-section-301-tariffs-on-chinese-steel-aluminum-critical-minerals

"The USTR has set the tariffs at 25% on a range of commodities including steel, aluminum, lithium-ion batteries for electric vehicles, ores and concentrates of manganese, cobalt, chromium and tungsten; tungsten oxides, tungstates, carbides and powders; ..."

I wonder if this will trigger the long anticipated retaliation export ban from China?

Nope I bought 1m last Friday at 0.97p

Https://www.mining.com/ivanhoe-to-explore-zambia-with-a-view-of-replicating-success-in-drc/

Even Ivanhoe is coming to Zambia 🇿🇲

Thanks redroy for that info - I was thinking of doing the same thing after watching the video.

Picked up another tranche today as it's under 1p.

Should help with the DFS economics. Couldn't resist a another top-up today given it's sub 5p

MUST be one due soon - been a long time. Had a small top-up today, just rounding up the holding to an even number.

Very interesting video from OF, as always. Fascinating to discover how they missed and then discovered porphyry North, never knew about the swapping of the magnetic poles.

I just wanna know what those magnetic minerals are.

Hopefully, the first set of drill results are going to be RNS'd very soon.