Member Info for Steve4077

JP Morgan does not exactly have a good track record in this area. In early Feb they predicted copper prices to fall and its up 30% since then :) Sounds like they are defending their existing prediction regardless of any new evidence since then.

https://www.cnbc.com/2021/02/03/jpmorgan-defends-its-call-on-metal-trades-after-investor-backlash.html

>> RMM is the mousish girl you suddenly realise is drop dead gorgeous.

Usually that realisation happens at 2am after many drinks :)

>> I'm in both but feel more tempted to do the opposite however sitting tight.

I also did the opposite to fund some of my top ups here, but the assays news cannot be far away now so putting a little back. Its only about 8% of my RMM holding so not a major change.

However, trying to decide which will go up more is a nice problem to have :)

>> I've actually sold 2m today at 0.58 to top up my XTR

As always, the share price increases after I sell. I think selling a small part of my holding to trigger that effect should be an integral part of my trading strategy :)

I have been buying all the way up. 12.5m between .3125 and .3466, then top ups at 0.43, 0.47, 0.5, 0.54 and 0.56 to take me to 24m at 0.41 average. I've actually sold 2m today at 0.58 to top up my XTR, but I will be putting them back again soon.

>> CB buying 1m didn’t convince me although it’s nice to see and overall a small % in his holdings, if he bought 5 or 10 million then it’s worth shouting about.

He has over 12m shares plus 8m more in options.

Yes, agree with the general consensus. When you have so many PIs who don't do research, perception is often as important as reality.

>> I'm not much of one for diversification

You are in good company. Here is a very interesting six minute video with Warren Buffet on diversification (and why it is a bad idea).
https://www.youtube.com/watch?v=qbEeSlqLTxY

One thing we should all bear in mind is that CB has over 12m shares in XTR. Whatever he is doing (or not doing) and whatever the reasons behind it, I am sure he is considering the impact on the long-term share price. He is unlikely to be commissioning a large IP survey and a 20,000m diamond drill program if has concerns over the assay results.

For now, absence of evidence is not evidence of absence, so we just need to wait (impatiently) for news.

>> Wont let you sell !!!!! Only quotes to buy!! Maybe they must be telling you something???

Not just a copper shortage - we will be running out of punctuation soon !!!!!

>> Steve, im in both personally and they have good grades from surface. Anyway, both attractive but different.

Yes, I have read up on CCZ in the past and considered investing. Their grades are good in the current market. I was just using their latest RNS to highlight how amazing the RMM grades are in comparison. They are obviously at depth vs CCZ but fortunately we already have an operating mine.

Maybe they have been received but not yet 'collated' :)

This sounds good:

"Assays confirm major copper discovery at the high-grade Big One Deposit, as two 40-44m wide intercepts from surface, with up to 16.65% Cu, significantly extended known mineralisation"

Until you read the detail and see it was 40m at 1.64%, with only 1m at 16.65% :)

The drilling results from 2019 and the remarkable grade of 9% over 75m from 2019 has been covered in the last days
https://www.lse.co.uk/rns/RMM/rambler-announces-drilling-results-tum0fahazzn4f6m.html

However, RMM hasn't really pushed that message to the market yet, apart from a mention on page 12 of the RNS that will only be read by dedicated investors or researchers, so it probably isn't reflected in the share price at the moment. That came to mind when I did my morning trawl through the daily RNS in the mining sector and saw an operations update from CCZ.

The RNS included the statement "Assays confirm major copper discovery at the high-grade Big One Deposit, as two 40-44m wide intercepts from surface, with up to 16.65% Cu, significantly extended known mineralisation". My immediate reaction was Wow! that is even better than Rambler. Then I read the detail and found it was actually 40m at 1.64% including 1m at 16.65% :)

When companies are going to that length to highlight (in a potentially misleading way) the grade, it just demonstrates the strength of the RMM drilling results. For an exploration company, our 2019 drilling program by itself would probably result in a higher market cap than we have right now. We just need to shout about it a little more.

>> No news until next week it seems....

Apparently Zambia now has telephones and internet, so I think we will be fine.

>> Steve other way round 9g/t
>> When I said 9% the other day I made a slip of the keyboard.

It really is 9%. It states that in the company documentation. Check page 12 of the RNS from yesterday.

Also here is the original drilling RNS
https://www.lse.co.uk/rns/RMM/rambler-announces-drilling-results-tum0fahazzn4f6m.html

"R19-745-08 - 74.75 meters (m) downhole width of 8.98% copper with 2.16 grams per tonne (g/t) gold and 14.23 g/t silver, which includes two separate intervals shown below"

>> 3000 meters of drilling into the 9g/t area

It is 9% copper, not 9 g/t, which is an amazing grade. Most companies returning a drill result of 9% copper over 75m would have our market cap just on discovery without any mine :)

Page 12 of the recent RNS:

The mineralisation at the Ming Mine is hosted in Volcanogenic Massive Sulphide (VMS) type orebodies. By their
origin, these deposits can extend at depth. The most recent exploration in 2019 demonstrated this potential, with
significant intersects including:
? Hole RM19-745-08 returning 75 metres of 9% Cu and 2.2g/t Au
? Hole RM19-745-04 returning 21 metres of 4% Cu and 3.3g/t Au

>> Why do you expect a rocket from 1p? I thought 1.2-1.5p was the most we should expect this year

Sentiment can sometimes take over. Look at GGP going over a billion GBP market cap during exploration with only 30% ownership of the discovery.

Won't the ore sorting allow a higher processing rate in 2022?

All-in-all, I thought today was very encouraging.

Firstly, you have to consider that the majority of private investors don't do research and don't like to read long documents. Second, we were up 75% this month before the RNS. Thirdly, the RNS itself (without the PDF) could be read as very bad news by anyone who didn't understand the overall context and the recent journey of the company.

With all that in mind, the fact the price only dropped 5% overall (and that the large early drop was bought into very strongly) was good news, especially as that was less than yesterday's rise. It means the shares are generally in the hands of solid, well-researched investors who have a view of the medium to long-term.

The RNS itself, in particular the attached PDF, painted a very good picture without trying to hide any of the risks. I thought the audit report that pulled no punches was a very good addition and demonstrated the confidence of the management in the strength of their overall plan.

I'm looking forward to the next few chapters in this positive, developing story.