Member Info for Sanboy

There it is....placing shares

San

Yes really positive foolsandhorses. Warrants will wait for the price increase. 0.2 warrants maybe waiting 0.25 and the 0.30 warrants will expect much higher again. Perhaps a TR1 on placing shares gone if the rest of the placing shares were sold off today? Code 1 if you believe in that

San

It's a sell. It's the placing shares.

San

Apro these were the placing shares. That was a delayed sell, so they could all be cleared if we had heavy selling today, which we did. The warrants will more than likely be exercised at a higher price. We have the detail on telegram group, if you want to join

San

Alyhels big placing sell just printed.

San

It will be a sea of blue against a big dump of warrants to counter that which is why the price is dropping. Supply and demand are at a sweet spot but warrants won't be churned if the price doesnt rise so expecting a bounce

San

Getting turned. Bit more money in the bank. See if the buys absorb

San

The company has gone through a change, including a new strategy. They focusses on a copper play and it was too big for them. The company have been honest about it and have opened up a data room if a company wants to JV on it. They are now focussing their attention on Gold and silver plays, which is the correct way forward. The spoil heap will help generate capital to start drilling holes in Olympic and MJ.

San

Placing and warrants already out. Company managed that very well.

San

Funded for next year's programme and if we get regular bits of money from spoil heaps then even better.

San

Spring time due to weather. Plenty to be getting on with like Spoil heap processing at MJ

San

Mac agreed. I think Olympic is bigger than we think

San

Its great to see some positivity on here and sentiment changing. I think some are getting over excited with expectations for 2021. The mcap here is a joke at the moment and that's down to a low demand for this share, which I think is down to coms. Over the last few weeks we have seen an improvement in comms which has helped to get the story across. The story is pretty simple 2 million in the bank, about to prove gold production from a sample from their 38 spoil heaps at mineral jackpot, anomalies detected beyond mineralised veins on mineral, Olympic license to be explored, Rock house to be explored and a big copper play waiting for a major to help. The mcap should be 12 million now even before the above is progressed. Expecting 20-30m mcap next year

San

All on the back drop of Gold increasing due to QE. I think the company had the wrong strategy pumping money into the copper play that was too big for them. Going for the smaller gold play will help them develop projects. It's not sexy but it's a nice strategy...JV would be amazing but can see that until we drill some holes

Setanta remember that's just the heaps and not extended anomalies and further exploration on known areas. When assessing the market cap you need to look at future potential on all company assets and the level of risk. If you think that revenue coming in will allow for drill costs, not including 2 million banked and the warrants. If you take a look at other junior explorers like THOR and ALBA, their mcap is huge compared to GWMO...6x in fact. I have a feeling that 2021 could really move this share to the next level 20-30 million mcap. I will be sitting on my hands and assessing again in 6-9 months

All in my oppinion and DYOR obviously

San

I copied this from the Telegram group from MS. He did some estimates based on the information from RNS.

Estimate of value of gold and silver we have at Mineral Jackpot:

From the RNS on 15 Oct 2020:
There are approximately 38 historic spoil heaps already identified at MJ as having the potential for secondary recovery of precious metals through cyanide leaching and/or gravity separation, about half of which have been inspected and are readily accessible.  It has not yet been feasible to measure and evaluate all the spoil heaps but a preliminary estimate of their combined weight could be as high as 12,000 tonnes of material.  Further sampling and testing will need to be performed before long term production volumes can be estimated.

So we have about 12,000 tonnes of material.

Assumptions:
Low case: 0.5g/tonne gold, 100g/tonne silver
Medium case: 1.0g/tonne gold, 200g/tonne silver
High case: 2.0g/tonne gold, 400g/tonne silver

Gold price assumed at $1800/oz, silver at $20/oz.

Total gold & silver estimate:

Gold:
Low case: 6,000g, 211oz, $379,800 worth
Medium case: 12,000g, 423oz, $761,400 worth
High case: 24,000g, 846oz, $1,522,800 worth

Silver:
Low case: 1,200kg, 42,328oz, $846,560 worth
Medium case: 2,400kg, 84,657oz, $1,693,140 worth
High case: 4,800kg, 169,315oz, $3,386,300 worth

Recovery:
Gravity separation recovery assumed at 30% for gold and 15% for silver. Cyanide leaching recovery assumed at 80% for gold and 40% for silver.

Recovered value with gravity separation:

Gold:
Low case: 1,800g, 63.5oz, $114,300 worth
Medium case: 3,600g, 127oz, $228,600 worth
High case: 7,200g, 254oz, $457,200 worth

Silver:
Low case: 180kg, 6,349oz, $126,980 worth
Medium case: 360kg, 12,699oz, $253,980 worth
High case: 720kg, 25,397oz, $507,940 worth

Recovered value with cyanide leaching:

Gold:
Low case: 4,800g, 169oz, $304,200 worth
Medium case: 9,600g, 338oz, $608,400 worth
High case: 19,200g, 677oz, $1,218,600 worth

Silver:
Low case: 480kg, 16,931oz, $338,620 worth
Medium case: 960kg, 33,863oz, $677,260 worth
High case: 1,920kg, 67,726oz, $1,354,520 worth

As with before, these estimates ignored capital and processing costs, just an estimate of the gold and silver that can be recovered

The above gives us some nice funds on top of the 2 million to expand the projects. Still think 6 million mcap?

San

Topped up day on my current holdings in GWMO. I'm scratching my head trying to work out a company with multiple plays, soon to be proving Gold production and with 2 million in the bank still has an mcap of 6 million. No brainer and big move next year. I expect we will be closer to a 1p mcap next year

San

Not if they are aligned to a JV agreement. They can be held back to formalise the contracts ;)

San

Going to be an interesting day today. For anybody looking at other plays, GWMO have released a nice update this morning. Cross ramp over, back to the mayhem that is GGP

San

Excellent update. Strong survey results. Shaping up to be a good 2021 for GWMO in my oppinion

San