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A fair few junior explorers taking a pasting over the past few days/weeks

WSBN

CGNR

UFO

LEX

CGH

RRR

AAU

Other speculative assets such as BTC also seeing a flight of capital atm..

Federal Reserve chair Jerome Powell has warned of a "critical period" for the Fed, calling deficit levels "unsustainable."

The level of debt we have is completely sustainable but the path we are on is unsustainable," Powell said during the European Central Bank's Portugal conference, it was reported by the Financial Times, adding the Biden administration was taking excessive risks by "running a very large deficit at a time when we are at full employment" and said "you can’t run these levels in good economic times for very long.

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No impact on FTSE100 stocks atm where its still around the 8250 levels.

AIM all share is flat.

Just strange seeing so many juniors taking a real kicking

Been some nasty discounts on recent capital raises though in the small cap space.

Are we about to finally see some rate cuts after the election?

There is no requirement for any company to have a PFS if they are going down an equity route.

A PFS basically allows any company to raise from the traditional mining financiers.

Its a significant step up from a Preliminary Economic Assessment (PEA) or scoping study which are generally done in fhe early stages and use lower confidence 'estimates'

Usually the costs and timelines to do all the work and conformation drilling required for a PFS means a lot of juniors will often look to skip through / bypass these stages often setting up smaller stage pilot plant ops to prove up the model.

A bankable PFS does what is says on the tin.

You can take that document to a lender and demonstrate with a very high degree of confidence what the opex / capex / IRR is going to be.

It's not the panacea to a Nailed on success as things can still go wrong in any mining start up operation as we know.

If they obtain the few missing permits and environmental assessments they need to complete the jigsaw and line up an off taker that would see a material re-rate as I mentioned.

It 'should' be straightforward

Ups and downs along the way as we know, and as each bit of the jigsaw comes together.

Biggest impact on the SP?.... obtaining the financing.

Without question. Get the funds to roll out operations and get the project moving and it would re-rate considerably.

Nice-75% discount

And folks wonder why all the small caps that are low on cash have been selling off so aggressively recently.

Tough markets.

Noticed this was getting cross ramped by the crews yesterday on other bb's.

That intra day RNS has gone down well - ouch.

- 60% sharp drop.

Dai,

I think that would be stretching it a bit.

Whilst the mining should actually be relatively simple.

To maximise profitability they would need to sort and grade prior to sale and that equipment would cost a couple of mil.

But before all that can take place they still need permits and before they can achieve their permits they still need an environmental approval from memory and I can't see that's been obtained.

Also, I can't see that a proper FS has been completed for what they plan to do, this is often where the small scale miners can run into unforseen costs, think, PREM, VAST etc

CMET does look cheap, and probably going through a bounce off the oversold.

Sheffield resources walking away from commiting any further cash into the project at this stage has hit their SP.

Should they obtain some off take funding this could see the SP re rate.

But I wouldn't be sticking around though after any spikes in the SP as all small scale mine build outs inevitably tap the PI's with a cash call with the carrot of revenues being just around the corner

Well worth keeping an eye on though.

UFO are in a similar situation and need a JV.

CGNR are also in a similar situation and looking for a JV.

I'm not in any of the above and think some are more likely than others to actually make it to into production... but watching closely as if any of the above can unlock some decent cash via a JV they should re rate appropriately in the near term, before the usual bump in the road that always hits the junior space unless a really big financial backer steps in

Thanks Kev,

Yeah, looked primed to keep rising all session.

Whenever you see a micro cap that only had half a dozen trades or Friday suddenly have 1000+ trades + 100+ posts and 3 RNS by mid session it's generally going to pull in more traders as the liquidity was there to get in (and back out) if needed.

Ended up over 2000+ trades, about £3.6m traded for a company with a market cap of circa £10m that's impressive volume!

Lots of red elsewhere so probably sucked some cash out of alot of other micro caps pulling them down in the process.

Not sure if Tro is still in JAY, but I'm sure he will be breathing a sigh of relief as i think he got caught on the drop around the turn of the year so probably back in profit now if still in?

Not seen him on here for a while?

Not easy picking the bottoms on these micro caps but this was one on the list for a sharp reversal on good news.

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Good RNS

Cashed up with some exciting projects to develop

Looks good

Newsflow has always been the lifeblood of the small caps

Hot Money will always cycle from one company to another based upon anticipated news flows and near term inflection points.

AIM is all a game

I very luckily managed to dodge a heavily discounted placing over a GSCU today.

More luck than judgement as I'd recently sold out having previously bought around 1p and seen the SP rise to 3p after a string of decent drill results.

As I couldn't see any more results for a while i sold out fully having banked gains along the way over the past year

Today they have announced a new placing via a new broker at 1.2p.

SP has tanked and may fall a little further

I'll no doubt look to take some more at some stage as its a very decent large copper/gold prospect and I would be expecting further decent drill results as they've not had any dusters and the whole area seems to be returning solid results right across their licence area.

One for the watch list for a new entry point.

217,698,930 volume

× 0.022p

= £4.789milliom churned so far today.

That's pretty strong volume.

I'm also on sidelines and will be watching the price action.

It's always been a crazy bb over there. :-)

@LW / Kev

If you want all the history on MATD it's all in the

video link I posted.

These guys are shareholders in MATD and give you the full history, which is an interesting story.

If you watch it, i gurantee you that you will be able to school 99.9% of the posters over on the MATD bb

you'll be far better informed than the majority of the commentators on there who showed up over the past few months but don't really know the full history

I recall the portfolio Matters guys completing a deep dive review video into MATD a while back

https://youtu.be/TgS2huAm0Fs?feature=shared

They have at some time covered most of the small cap 'punters favourites'

Well worth checking back on some of their videos to see how much or how little things have changed with each of these comps.

Their video on ADV now BCE was a very good watch.

Definitely same reoccurring theme with that one!

Https://www.oranacorp.com/

https://www.oranacorp.com/team

Dai, exactly what you did (or maybe didn't) ask for the other day.. :-))

HEX are out of the same stable as HE1

Being

ORANA CORPORATE LLP

Its the same team behind it.

Precious metals prices have been slapped down from the US market open after looking strong over the past couple of sessions.

Seems a mixture of housing and PMI data gave them enough reason to sell off PM's heading into the weekend

Anyway... time for a cold beer & fire up the bbq!

RNS today

Finally received tranche 1 payment adding $19m cash bring cash held to $27m

Continies to be a long steady slow burner this one

Our neighbours have recently seen their Kabanga deposit Mineral Resource estimate attributable to Lifezone Metals of 25.8 Mt (Measured and Indicated resources) at 2.63% Ni, 0.35% Cu and 0.2% Co and additional 14.6 Mt (Inferred resources) at 2.57% Ni, 0.34% Cu and 0.18% Co each with a recovery percentage of 87.2% for Ni, 85.1% for Cu and 88.1% for Co.2, 3, 4, 5, 6, 7, 8

That's a world class deposit neighbouring our licence.

Their Definitive Feasibility Study for the project is due for completion by Q3 2024.

They recrntly completed a US$50 million private placement to a consortium of marquee mining investors, led by Harry Lundin (Bromma Asset Management Inc.) and Rick Rule.

Sean has the ear of Rick Rule

Our neighbours are presently valued at 620m at a very early stage.

Could be significant value about to be unlocked here for our Haneti land package if all the parties come together. We'd be looking at an 'off the scale' re-rate for the SP here.

New BoD making moves in the background

News due.

GLA