Member Info for Swakopmunder

Seems to be like the classic accountant-led junior's strategy: rearrange the Titanic deckchairs, offload some, hope folk don't notice it's a one way trip...

FCM appear to have JV'd out their best project for peanuts, so those touting it as a £1 stock will have to have some serious luck. Penny stock more like.

IMHO, DYOR and good luck to holders, but "I'm out"

Classic RNS. Is Mr Sale saying something about shareholders when he uses "DOLT" for a project.... :confused:

Crikey. Have just waded through that youtube interview. What a waste of 17 mins of my life. ****ging the old guard off, accepting eventually he's not up to it. Where are the KSZ assays from last year before drilling more dusters? At least this Dave C bloke will getting some good consulting fees for telling them to "drill this hole over here". If that turns up another duster, no mind, I'm sure he's other gullible clients.

And who is the mysterious "Steve" with no surname he mentions a few times?

More blowing out of budget on expanded board, management and consultants over last year with absolutely no clear strategy other than run around like a headless chuck and drill dusters.

GLTAH you will need it. Death spiral IMHO

LC is a much shrewder player than either BT or PJ put together, IMHO.

And WTF would anyone in their right mind buy KAT out for a carp (?sp) project... just to add to other similar projects?

Like I said, very glad to have got out of KAV personally, but GLTAH. DYOR.

My take is I am still glad to have sold when I did at a loss (albeit much smaller loss than it would be now). The drill hole picture of the pegmatoidal gabbro "with chromite" looked ok but best part of 1 1/2 years later, still no assays. Tried to do a "PJ", failed... in much the same way as PJ will. Ther's only so much "transformational" "company changing" that can be shouted before it turns hollow.

Geophysics is geophysics, always, yet always, equivocal. Drain of shareholder funds and goodwill. IMHO DYOR

Impecunious 2,
thanks for the note. I know it may come accross to some as pessimistic but ultimately I'd argue it's realistic. It's dead easy for companies to blow themselves apart spending money on lots of projects that would be marginal at best. I actually like Tati, but just not where they're spending money... Uncertain about Molopo - remember it's been well prospected over the years, and is proven to not be anywhere like the Bushveldt Cx. Deep and hard to mine. Like CH is shallow and likely to be metallurgically challenged. Just IMHO, we will see.

Main issue IMHO is "scattergun vs rifle" approach whilst funds contine to dwindle....

IIRC it was mentioned in passing in historical works, and Roger Key's (he of Molopo) memoir on the geology of the
Francistown district. Gallery, Iamgold and (less so) Galane would have had a good look too. But there's not much online for sure.

Thanks Impecunious2, answers are no, and no, but spent many years there. Through the Uranium boom and all that. Cheers

" Play the ball and not the man..."

Agreed, so here goes on something I know something about, having invested in a company active at Tati before...

"in the short term, I hope that we get going in Tati as soon as we can, and ride this POG wave - opportunities like this don't come around too often, and don't last forever. So we need to be on the ground again in Tati as soon as we can, now that we have the funds.
And on Tati, we should very much hold PJ to his comments that Tati could generate early revenue. I will be tracking progress on that side of things very closely, as much as the actual exploration. I hope it wasn't just something said as a ramp, that then doesn't materialise or melts away in the comms. All imo and DYOR"

Don't share your optimism sadly. A number of companies have looked this area over very well, lots of competent geos and miners. Gallery/Iamgold/Galane. And that's after the old timers worked over most occurences close to surface.

Anyone could find high-grade Au close to surface, stringing a decent hit or two together, but one of the issues about proximal cashflow is narrow unmineable shoots, and then there's the As metallurgical problem. I wish them luck, it would be good to hear from them that things are actually better now than before, but again the whole model seems dilutive and disruptive. Molopo problematic, maybe they need better tech advisors.

Gool luck with your investment though.

Sounds good and pumpy.

Unfortunately it's from many years ago. Discovery did work around Dikoloti-Lentswe, drilling dusters, before going and playing in copper in the Kalahari, upsetting all their holders and going bust.

Sound familiar, or predictive?

Sadly their latest RNS appears more of the same. A dull, highly faulted intercept which little evidence of shearing being pumped as such. No mention of Cu (they surely have pXRF on site) so assays likely to be as expected...

Hands up all those who think KCB mineralisation is economic at 500m+ (perhaps as many as think KSZ / Molopo is going to be mineable at 1,000m)

And a pleasant surprise compared to most of the other UK-based minex companies/projects

Absolutely, great results and new potential there at just the right time as the project progresses!

Maybe unsurprising. Ramping a one-off result from a highly selective, high-graded rock grab sample, only to drill dusters later would be more of the same, totally expected and unexciting. GLTAH, methinks it will be needed.

Hello News

Link doesn't work - any chance of an updated one, searching Sprotts own website brings naught., but did find this:

https://www.sprott.com/media/5937/221129-pdm-scp-drilling.pdf

All sounds very interesting and good to know... Out of interest how much of Pickle Lake do FCM retain / claw back? It's not too clear in the marketing materials.

Haven't the JV partner got a real bargain deal there = 80% for next to nothing?

Has the potential to be yet another BS project, hyped by KAT's Coetzee (has form, as Ferdie D will tell you), probably right up POW's street - no hope of making it, but the grass is always greener... Why not employ a skilled geo to properly evaluate projects before spending loads?

>400m deep holes drillled on a project, and again all dusters. (Whatever) Next.

@roger65 Molopo may be a dud, but even if it weren't it's not really a junior exploration play - big boy territory. Over the decades it's also gone nowhere. Key would have been glad to take the cash.

WRT Tati, why now? A century of work and the best deposit (by far) was Mupane! Surprised they've not highlighted the "Ni potential" given the possibility is just as remote. Having proper boots on the ground who know what they're doing would help, but re-shuffling doddgy old Phelps/Falco prospects and hoping they'll satisfy the bean counters is not going to pursuade many to enter, even at this price, IMHO

All sounds very interesting and good to know.

How much of Pickle Lake do FCM retain / claw back? It's not too clear in the marketing materials.

Haven't the JV partner got a real bargain deal there = 80% for next to nothing?

Crikey.

"We successfully drilled 3,300m in KSZ" Really. Not one economic intercept reported... then

"We successfully drilled 1,600m down at Dittau". Again, no economic intercept.

Then the focus changes to KCB... "we feel most confident about making a discovery". "We've deployed a new technology". For KAV maybe, everyone else has been using CSAMT for 2 decades or more. "Results looking very exciting" ... "Drill core looking very, very exciting" "£1.2MM drill budget in KCB"

Cripes. I sense more dusters, unfortunately. Don't regret selling my position, won't be climbing back in anytime soon given "overhead costs". It's well and good "hitting our projects hard" but common sense...

Even the (paid?) interviewer seemed to see through the hype... nice to see, often they appear to fawn.

Interesting and good to know.

How much of Pickle Lake do FCM retain / claw back?

Haven't the JV partner got a real bargain deal there = 80% for next to nothing?