RE: As a long term holder10 Jan 2025 14:02
The long and short of it is :
Did the company raise a couple of months after it stated that no raise was needed - yes (a lot happened in those 2 months)
Was the SP talked up by the BOD prior to the raise - yes (well they could have let it be known that they were planning a raise, let the SP drop and done the raise at 0.2p , which would have been the alternative....who wants that?).
Did the raise money cover all planned exploration for 2025 and put them in a stronger/more stable negotiating position on the tax loss deal - Yes
Are they going to get £2.25 on the tax deal - More than likely
Will this deal be signed by the end of the month - Looks like it
Is BM production going to be funded by the Tax Loss cash - yes (and with an initial estimate of 100k oz ....which may be revised up or down)
Will they make another acquisition - they are making noises to suggest so
Have they partnered with a state government division in Queensland and also an academic partner to further explore REEs at Lolworth - Yes
Have the gold results up to now been very positive at Lolworth - Yes
Will they drill at Lolworth this year - The BOD has said Yes
Have they retained Creswick & Tambo - Yes
Will confirmation of the Kondaparinga license be granted to ECR this year - likely
Have ECR up to a$1m in royalties coming from the Avoca/Moorombool (sorry spelt wrong) deal with a resource estimate expected in the next couple of months - Yes
Will the receive the c£225k from the property sell - Yes
So to summarise they could have £4m+ in the bank to spend to take Blue Mountain in to production at low cost, becoming a producer and generating income, have completed drilling programmes at Lolworth, got more exploration details on REEs from their academic/government partners, made new acquisition(s), started exploration at KP and done further work on Creswick and Tambo by the end of the year.
And this with the current MCAP around £6m....if all/most of the above comes to fruition the SP won't be anywhere near that figure , that's for sure.
That's why I'm maxed out here......and why it looks like a compelling investment choice IMHO.
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