Member Info for Phoebus

So according to his RNS 'Terra Search, who have considerable exploration experience in the nearby Havieron gold discovery' there are 'four magnetic targets of considerable size' which are similar to Havieron, have a larger footprint than Havieron and are shallower than Havieron. No wonder they are moving to close the deal ASAP and focus exploration efforts on this area. Fantastic news. Can't see this staying at such a low market cap much longer.

'similar signature to those at Havieron' 'equivalent susceptibility (possibly pyrrhotite alteration) to those evident at both the Havieron discovery and Rio Tinto's Winu discovery in the Patersons Range area'

'2,400m x 400m, which when compared to the ~500m x ~300m Havieron footprint'

'Permian cover in the area, is estimated to be around 100m in depth on E45/5279 compared to the ~400m Permian cover at Havieron.'

Very close to breakout level of 9.298p. About time.

This is only the update for EL 45/5297. Remember we have two more licences pending in the area both of which appear to be on strike with Telfer and closer to Havieron. Very much looking forward to an update on those areas too. This stock has it all. Fantastic value at this market cap. Could well be stock of the year.

Exactly. This should be closer to 20p already IMO.

Upside from here is astonishing.

Nice.

Strange timing. Doing so the day ahead of the US election result is a risky strategy. If there is an unclear or contested result stocks will nosedive tomorrow.

Looks like a lot of today's supposed sells even those as low as 21.50p are actually buys as I've been quotes 21.50p to buy for some time now today. Did anyone anticipate a 30% pullback as soon as drilling started? No, me neither. SP is pretty much flat now for the last 10 weeks despite major drilling now being underway. Remarkable to think this is still sat at less than £20M with over 1MOZ JORC in the bag and gold at near $1900 and Sprott on board. Remarkable value at these levels.

My approach is to raise cash by selling lower conviction investments and go long the VIX rather than panic sell core investments. Trading a percentage of a core investment is also a possibility, but given my level of conviction here, the fact we've already dropped 40% and the difficulty in buying this share once it turn up, it looks too late to try that trick here, but good luck if you manage to pull it off.

There is no certainty the markets will sell off anything like they did earlier in the year and in any case I expect such a move to be only temporary. Look for vaccine headlines galore in the coming weeks and Brexit deal break through to drive markets higher. Central banks and governments will continue to issue ever more debt with COVID providing cover to accelerate the process. As COVID begins to pass and money velocity picks up expect to see an almighty crackup boom in commodity prices and inflation. Look at the Caracas stock index for the path ahead. Investors will be looking for lifeboats to avoid debasement and OMI looks like an excellent vehicle benefiting from the dual effect of increasing commodities prices and a quantum step change in the value of its assets on the back of huge resource upgrades. There will undoubtedly be bumps in the road, but they will only be temporary as the debt issuance accelerates. Try not to get knocked out.

Pathetic.

That's my guess too. If the markets actually gave a toss about the lock downs in the UK and EU they would have collapsed today and they haven't. This is still all about the US election IMO. Once that uncertainty is out the way we should start to see risk return to the market. Money printing will continue regardless of who sits behind the Resolute Desk.

Elise, you mentioned the 6% figure after it has already dropped and now we're down 0.5% more. Amazing insight.

Seriously, you expected more than a 6% drop? Markets are up today. All rebounding nicely ahead of election day tomorrow.

Same at LND. Announced start of drilling program there 2 weeks ago and SP is down almost a third despite already being at a pittance valuation for their gold discovery. Moves in gold sector have been a bit crazy the last few days with the US election on the horizon. Despite holding up quite well I would have expect GGP to move higher after those excellent drill results last week. With the election now only a day away wider equity and commodity markets appear to be recovering and I expect a relief rally across the board once that uncertainty is out the way. Good chance that this mornings dip in GGP and the pullback in LND and other gold miners is the dip before the next rip higher. GLA

Agreed Expru. I'm not bothered if it is Desgsy. He's positive and informative and any stock would be lucky to have a poster like that. When drilling has revealed Anza in all its glory and the SP has reached its ultimate heights there will be many a reader of this board grateful they held on thanks to the information and positivity of numerous good posters on this site. Only 2 more session until US election uncertainty is out of the way and then hopefully we can resume our move higher as our major drilling operations draw near. FTSE 100 futures just gone green for the day.

Herd in WTE? LOL. I saw bigger herds on Ed's route last night in Last Man Out.

Nope. I'm struggling to add.

What makes you say that?

I see THR already has several JORC resources for other metal. Their gold asset is in Pilbara with gold shows over 13km, but most of that seems to be premised on very low grade early stage surface readings. I fear I'm missing the point, so why are people so keen on it? Thanks.