Member Info for PaulFG

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.

Ya 100% agreement.

I recently completed The Traitors Australia and the expression I remember most perfectly fits the retail panic selling yesterday - 'dumb-dumbs'

Excellent opportunity to topup here.

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

...and after that...when will we be suspended again?

Barr the licensing announcements (?) I think the share is likely to remain in the doldrums until end of Q1 when we should get more news on the farm out.

LW the HE1 raise was disgraceful and incomprehensible, imo. You can't, and I'm sure you're not, equating all raises to that.

Unfortunately, this is the nature of the sector we're investing in so it's almost inevitable you're going to be impacted by a company raising somewhere - it's a matter of those funds propelling the company towards the next value event.

I don't thing the chaps at BRES have done anything to warrant the hysteria this morning.

What would worry me is the company being taken out at a pretty low mcap.

Even if there is a raise, and I don't currently foresee that that's an imminent possibility, I don't know why there are so many divas screaming and wrenching the clothes of their backs about it.

It's not necessarily a bad thing and in the case of this company if it progresses us further to production and added-value productions, then ruddy great!

Great value at these levels - but please all continue to panic over a common sense statement.

Interesting take here, retail is just not interested un the sector, no new money glowing in. Depressing really.

https://youtu.be/sIdxMtbKb38?si=SQCKlmTZ7Q8kUMqw

Yes I saw that last night and thought of Kefi, and some other stocks...

@ginger - I agree, it was the potential in the KSA that attracted me here and the easy availability of finance/support within the Kingdom for development (esp. as the Saudis want this to happen).

I loved the comment in the RNS which really demonstrates all the above:

"KEFI's GMCO joint venture partner, ARTAR, has agreed to fund the ongoing programme at present (without dilution) to ensure swift progress continues whilst KEFI triggers project launch in Ethiopia at the high-grade Tulu Kapi Gold Project. This much-appreciated support from ARTAR reflects the strong partnership relationship and the combined priority given to production start-up in both countries."

That said, and I do take onboard @DVHarr comments on this ain't going nowhere until finance in TK sorted, I think that is the drag here (I am convinced it's going to happen and expect the 2nd bank announcement pretty soon). But I think the more RNSs/news coming out of KSA will relegate the focus on TK to the background and the near-panic in the comments from punters that want the SP down is also recognising this.

It's never 'just a matter of time', but increasingly the value proposition here is crystallising and new investors will be attracted by CURRENT events that'll rerate the SP and the focus of embittered individuals focussed on the past will become irrelevant - as I believe it is already.

Some very nice grades here, but what I also liked was:

"KEFI's GMCO joint venture partner, ARTAR, has agreed to fund the ongoing programme at present (without dilution) to ensure swift progress continues whilst KEFI triggers project launch in Ethiopia at the high-grade Tulu Kapi Gold Project. This much-appreciated support from ARTAR reflects the strong partnership relationship and the combined priority given to production start-up in both countries."

But a good level to book tax losses for 2023/24 - not that I'd want to be out of this one for 30 days, I have booked tax losses on another where I thought I'd be safe enough being out for 30 days, but here it's a tad too long (hopefully) should the second bank approve.

Would not be surprised to see some announcement about exercise of warrants sometime soon, given the SP. More money in the bank, even less reason for a raise.