Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Good post on twitter just now - looks like Miton were out first thing this morning. Wouldnt be surprised to see after hours RNS confirming. Will be a mad rush Monday morning. Take your positions!
Umbria growing rapidly and gaining a lot of attention in the right circles right now. Binance Smart Chain link up being kept under wraps but apparent release next week and Coinbase discussions taking place. This would be huge!
Notice how the bid drops but it's incredibly difficult to get cheaper shares. I think the float is running quite short and orders are being filled. Midday auctions tend to show a few chunky orders in the background too. There's only 25mil shares and nearly 70% of those are held. Can see a rocket up AFN's arse over the coming weeks.
Appears to be
Cracking news - doesn't take a genius to look at the recent RNS news flow to see that the house is being cleaned up ahead of significant news. £4mil cash (bearing in mind at £1.6mil CB stated they were funded in excess of 1 year). The road ahead is now free for regular drill updates and JV news!
I'm really not sure if people aren't getting this or intentionally trying to drive the SP down to buy cheaper - there is literally no indication that the JV has been delayed, actually quite the opposite! The deal was nearly done early 2020 before COVID hit and the final piece was a site visit which couldn't happen due to restrictions. Those restrictions were lifted 8/12 and CB literally confirmed 2 days ago the site visit took place.
- Serious interest on the table
- Technical DD (from the site visit) was very favourable
- Major interest from company based in Western Australia (previous interviews already highlights this is "the 3rd largest gold company"
- From Monday 18th Jan they return back to work
I honestly don't understand the confusion - is it just me? An offer will be made next week I have absolutely no doubt, and i'm pretty sure CB has no doubt from what he's being saying either - the question remains whether he decides the offer is fair value and accepts, or drills further to increase the price.
2 week window after 9 months. TWO WEEK WINDOW and they were straight out there - they want it!
I actually love how much the market has missed the recent interview - i've watched it 4 times and get more and more excited each time I watch it.
I have full confidence an offer will arrive next week from one of the Western Oz based majors - all signs point to Newmont on that one.
After 8/9 months of lockdown there was a 2 week window for a site visit and it took place - keen or what (they knew lockdown could be back in place quick and it was). CB already told us the technical DD was "very favourable" (interesting choice of words there) - not "it went well" - it was "very favourable" think about that. He went as far as mentioning the working schedule in Oz what does that tell you.
A major doesn't wait 9 months, fly out in a 2 week window, love what you see and not make an offer - there is going to be an almighty scramble to get back in here soon and that's why I love that it's been missed by the market - the demand is going to be huge.
That’s correct TalkingSense - I get the feeling CB is holding out for the major who visited December as he knows how transformational that will be with the access to money and resource. This next couple of weeks gets very interesting and I can see a rally in anticipation coming too
Exactly that Hoover market has missed this completely today / got confused about what was said. The 2 offers he was referring to historic offers on Bailieston which they turned down and now drilling themselves. some quotes from the interview today -
In regards to JV interest on Creswick -
"Serious interest on the table"
" We have people who want to do a deal"
"One of the major contenders is Western Australia based"
"Australia closes down a week before Christmas and most are back to work Monday 18th Jan, we've had one site visit in this window and they were very pleased with the results"
Read between the lines - an offer is coming next week i'm certain of that. CB is playing down saying things such as "we will drill it ourselves if the offer isn't right" and rightly so - he isn't going to sit there with a massive grin showing his hand mid negotiation, he's going to try and sound like we have other options and just because you're Newmont or whoever doesnt mean you can roll us over.
Doesn't seem unfeasible at all to be fair - we know CB already confirmed that one of the largest gold producers were "very fond" of Creswick and were unable to complete a site visit due to Western Oz lockdowns. He confirmed today that a site visit took place between 8/12 and the Christmas break and that the technical DD was "very favourable", and alluded to a big player in Western Oz, back to work from next week.
They sound keen to me - lockdown was around 8 months or so and they visited in a very small window. It's all down to whether the offer meets CB's valuation - very interesting times indeed.
STH's leaving from impatience creates great opportunities for LTH's to add. I'm locked in for 2 years ain't selling a single share and i'll add where I can too. ECR is going to be a monster I have no doubt about that. AIM is a very impatient place. Cashed up / drill turning around the clock / monster licenses. The JV will be the icing on the cake when that comes as you can bet it will be a cracking deal - CB ain't letting that go cheaply.
They originally had around 30% of the business at 1p. Made their money, sold their final holdings. 8% seller in the last couple of days that's a huge amount of shares and look how well the SP held up considering. Free to move now boom!
On the 2 JV fronts you won't see that short term. Creswick is a monster and a JV will get done that I am sure. The question you have to ask is will it be a good JV? Well we know CB doesn't let things go for cheap and he's focused on shareholder value so it's in good hands there.
Bailieston will be drilled by ECR - then down the line I think certain areas will be JV'd whilst focus moves on to Tambo. Great business model when you think about it - gather licenses, drill yourself to add value, JV, rinse and repeat.
Some good summaries below and here's my view for what it's worth.
Let's face it the drill has taken longer than originally anticipated to get up and running and the market doesn't like delays - put on the positive side it has presented an opportunity to take a stake here at a cheaper entry point. I've chose not to sell anything as firstly i'm ultra long, and secondly news can land at any moment.
With no recent news/interviews the impatient will sell, and others will worry - add in the slight pullback on Friday on Gold and crypto going boom and lots of money has been moving into that. This is great for the wider market and believe me that money will pour back in. Gold will soon be the new flavour and will continue throughout this year. The problem most new investors will find is Thursday/Friday they will sell down positions to chase crypto after watching rise after rise, then once their original investments and gold stocks start to become back on they chase back at a higher entry. Weeks like last week are where you make your money on the markets.
As for ECR - I have no doubt there's a lot going on in the background. CB and team aren't ones for RNS'ing everything little thing that happens "we've had a site visit".... "we've attached one of the new drill bits" etc. etc. - but when they do RNS I have no doubt it will be full of lots to get us excited, and realise nothing has changed other than everything progressing as planned.
I have a sneaky feeling next week there will be some updates to get us back over 4p. Followed by another CB interview :)
Exactly that TS - some monster trades coming in now and the SP looks incredibly robust which gives me serious confidence. Consolidation around this level has been very strong as we're about to go into a news rich and exciting period. Feels primed.
The next level is pushing through the 4p barrier which is acting as good support (3.8-4.0) - personally I can see 5-6p range based on the below. However if there's hint of the JV we all want via an interview or elsewhere then I see this going crazy.
Either way i'm here for the long haul and i'll still be dropping in and out of this board when we're 10p / 20p / 50p.... £1