Member Info for skinnyboy16

This is the easiest hold now. Just sit back and watch it go up

Successful Azteca startup (first production, initial shipments, and cash flow visibility) would be a major de-risking event: proof of execution, regulatory/operational milestones met, and a bridge to full development. This typically triggers a significant rerating in junior miners moving from pure exploration/development to producer status.

Base-case estimate: 15–25p (roughly 2.5–4x current price, market cap ~£60–100m+).

This reflects partial realization of the £139m NAV (e.g., 40–70% of it), with Azteca cash flows confirming value and funding progress toward DFS/full project. Sentiment would improve markedly on "first cash flow" narrative, reduced dilution risk, and iron ore exposure (current 62% Fe ~US$110/t, 65% premium pricing supportive amid green steel tailwinds).5f8c13

Optimistic (strong execution, iron ore prices holding/firming, positive news flow on full project): 30–50p+ (approaching higher fractions of NAV or Edison-style unrisked targets). Technicals could support this with breakouts on volume.

Hopefully once licences are finally approved that'll be the kick, lots of stop starts on Amapa over the years, hopefully people waiting on sidelines

They have enough cash for 10 years of wages currently

If results were in before Xmas and were bad wouldn't the company have raised money on that last push to £1.25 to cover drilling for the next year? Doubt they'd wait to release poor news and then try get a placing away... Happy to be told otherwise, What's your view?

The Breccia 100% has copper, that is proven by the chalcopyrite confirmation. They will need to release the quantities of copper in any assay update. The Breccia dome can never be a complete dud.

Any sensible investor basis the shares ability to 10x based on market cap not share price. if a share was 10p but valued at £10bn you're not going to buy expecting it to hit £1.

if a share is £1 but only valued at £1m and has lots of positive news due you would definitely expect it to hit £10 a share....

Its maths

The shares are under 1p, so the most you'd ever lose is under £1 worth of shares, it'll cost you more to buy them!

Reread RNS https://www.lse.co.uk/rns/WSBN/mineralisation-over-3km-strike-at-red-setter-o0s4q1mo0l3c7vk.html - it looks like they are continuing on from this point in their programme, the RC holes pre-collared made up 25RSDD001 and now they're moving on to test the Diorite which is what Expert Geophysics think will mimic Telfer, so we have 2 domes, the Gold dome where 25RSDD001 and 25RSDD002 targeted from 500m and the Diorite which is down to about 500m in the northern area. Check out Figure 1 and compare that to the satellite images being circulated showing the pads being created.

LOTM you're a funny one. someone asks you a question and you get so defensive. Question: how can you determine the diamond drilling rate when the first 300m where completed using a different drilling technique? you're basing your assumptions on them diamond drilling from 0m...

Hole 1 was being drilled at 20m a day, why is the logic that hole 2 is 16m a day when we dont have any other facts to go on?

Check out wishbones latest x post, night drilling has commenced, double shifts underway so ~40m a day being completed

Spot on!!! Cores are actively being checked and drilling is actively drilling. Just traders being impatient

Would fire assay test for both gold and copper? No idea what it is just know ALS offer it?

I personally think they're at about 350-400m deep on the second hole. So 20m a day should expect something this time next week on hitting the top of the mineralisation. If they release that.

If hole 2 hits similar or better than hole 1 and hole 1 assays are as expected then it's just an easy hold until reserves are known! A couple of IF's still to be sorted but once they're known it'll just be a case of waiting patiently

There are just shy of 2.6 billion shares so 10p will be £260m mcap.

Will need mineral estimates after a few more holes are drilled to get the big gains. Once we've confirmed a multi million ounce discovery. That's when it goes big. However the assays are needed to prove how much is down there for them to be created. Will need a few more drills still. So hopefully they get a few completed before the Aussie summer arrives.

If they've expedited cores and transported them as they're drilled rather than storing at the site I'd expect an update on the first batch of results early next week. With the company all meeting in Perth next week im expecting some big news otherwise why meet?

Additional funds could be used to get a second drill rig on site and start a very prospective campaign underway. They'll need lots of drills to get the full picture and each hole that hits will add more to the asset.