The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Hello captain! Haven't seen you here in a while. Hope all well and good to see your wise words.
Actually a '1' in this case was true as an rns was delivered straight after...
If you believe in this sort of thing: 26-Mar-1811:02:400.061 1 Sell* 0.060.0650.00O
Lol. 10p and I retire and will buy you all a drink!
Let's wait and see. Could be impending news of JV/farm out for the gold, or some information on cobalt from augering... Hope this holds.
Of a jump today so far, wondering if there's some insider knowledge on a potential gold JV/farm out or the auger results in the DRC?
Thanks for sharing Parislse
Might just be an IG issue. Last week it stopped displaying charts (bit of an issue in the middle of a trade!) and I started receiving emails about positions other people were opening and closing in my inbox. There should be enough shares sloshing about in ABM to be able to buy that amount or more.
Error. 1000% increase, nearly had me out of my seat!
I couldn't possibly.....
Are up. Love the pic of they guy wearing a floatation jacket!
Notice that: Taruga has entered an agreement with local company Madini Minerals to acquire a 70% interest in a tenement in the Kolwezi Mining District and three in the Lubumbashi Mining District.
Hey! That's my ca..... Wait a minute.... *Chortles*
You know what 'they' say Davie (with respect to doggy dealings), little things please little minds! 🤣 ATB
Davie, On the Cobalt: because buying an exploration license for a piece of unproven land costs that much. Exploration is not cheap. On Ferensola: they haven't left it. They stopped drilling because they couldn't afford the remaining drilling needed to prove up the asset across the license. Tondo so would have diluted ABM so much that they'd probably go under, hence the JV/farm out. That's the financial sense: exploring for cobalt is relatively easy by comparison and in the current market/metals/battery climate, could do them very well. Hope you avoided any doggy dealings last weekend! I noticed an increase in doggy dealings on the pavement around our area and noted that I must get onto the council about that. BR
Lol, gotta watch out of those 'doggy' dealings. In my opinion, those chihuahua dealings are the worst! Happy weekends all.
I was reading an article from Reuters on ABM moving into Cobalt in the DRC and in the same article, it mentioned how First Cobalt had 7 exploration properties in DRC that it pulled out of. So looking on First Cobalt's news site from 2017, I saw that they pulled out to focus on Canada. In that article, I read that the original deal made in May 2017 was with madini minerals with similar conditions (Serge Ngandu to be put on the board, payment to jay bird etc,). It just seemed very similar to the deal with ABM. I wonder if the 2 properties that ABM now has were any of those 7 properties previously held by First Cobalt? http://firstcobalt.com/_resources/news/05_01_2017_PR_-_FCC_Options_Madini_FINAL.pdf
Further to previous announcements of ABM's intention to seek a farm-out or JV partner for the further development of its wholly owned Ferensola Gold Project ("FGP") in Sierra Leone, ABM is pleased to update that one interested party is currently carrying out due diligence on Ferensola under an NDA (non-disclosure agreement), with a second interested group expected to be provided with access to the project's information shortly. ABM will provide regular updates as the situation progresses in due course. Good news.
:) not saying I'm not irritated or am relaxed with the situation - double your current loss and add a bit more.. but understand the situation on gold (met RM face to face end of 2017 and have regular direct communication with him to keep updated) and understand their move to Cobalt. If cobalt doesn't come off and if there's no JV on gold, then ABM (and my investment with it) will probably die. But this is aim, and risk is high always with junior explorers. Hence significant returns if they're successful. If that loss situation happened, I'd blame no-one but myself for the loss as I chose to invest in aim and Sula and junior explorers based on my own research, rather than safe FTSE 100 stocks... Would be a painful, but not life threatening lesson and my retirement, the mortgage and my rust bucket car would just have to remain for a while longer :)
Davie, Rev is spot on in my opinion. Suggest you give RM a call and have a chat with him on why the gold has been put on back burner. A JV is needed as the complex geology to prove up the gold resource will be very costly and would need significant further dilution without a JV, so would likely not happen in current climate. Madini operate in DRC and have good connections there. Cobalt is hot right now and the locations they've got there should be a guaranteed hit on the roan, so present a good opportunity for ABM. Are you invested here? If not and you have no faith, then don't waste your time with it would be my suggestion!