Member Info for thelearner

Yes Orosur have had a good week - but also have been very up/down over last 6 - 8 months. I first bought OMI (35000 shares) at about 5p, and sold and made just under7K profit - but if I had sold earlier would have had much more - bought back in at 18p, should also have sold on the last spike and never - but I think fundamentals are good and going to buy some more. My OMI profits went in here - and currently will have vanished again.

I also have holdings in UFO for a while - first bought 0.46 - also think I am buying some more.

XTR - Xtract - again have a bigger investment there - they also have had a very good end to last week - and I was dithering between there and GGP - should have bought there on Thursday - but never - but will be tomorrow,

Been selling some oil shares to fund this years ISA's - have not recovered fully but getting close again.

https://www.lifeinnorway.net/norway-minimum-wage/ helps If I remember to paste link to article!

The real main difference in the Nordic countries I think is the wage gap between what are considered to be low skilled jobs - example cleaner, and highly skilled job - e.g doctor are much lees in many other western countries. This article is quite interesting, and Norway is a very wealthy country with a very healthy sovereign wealth fund created by profits from oil and gas over a long period.

When to invest? I am one of the lucky ones - invested early - and now looking at where this years ISA contributions go.
GGP I think is very low risk and very good value at current levels, but will be a long term play to get maximum gain, I think it will at least grow by 100% in the next 2 years, and potentially 500% or more if we have exploration success again like Haverion - but this will probably be in a longer time frame.

So I have decided to buy some GGP, which I think is a very safe investment - and put some more in my other high risk PM shares - which potentially may have quicker gains - but carry much more risk. Each to their own when and where they decide to invest.

I really regret my caution early last year - when I thought I had staked enough in GGP - but was absolutely convinced by Haverion - with hindsight should have bought more. I bought at 33p - do I think I'll make a loss on those purchases - not at all.

The Red Chris deposit, as defined by the drilling to date, has dimensions of approximately 0.3km in width by 3.4km in length and 1.3km in vertical extent - this is from RNS - so total mineralisation volume is 5.82 times greater than Haverion, which has dimensions in MRE of 650m x 350m x 1000m. Maybe not all the volume at Red Chris has been used for the MRE - not sure but when I read RNS last night - was impressed - and think they said it would grow more.

Red Chris has lower grades - I am no geologist - but my understanding of porphyry deposits is low grade but full mineralisation over the whole volume. Hence why bulk underground mining is so successful with low grades at Cadia.

Haverion has fantastic grades - but not over the whole mineralised area - and the Haverion MRE does not include all the mineralised zones anyway - lot's still to be included. So Hav MRE will also grow - we do not know by how much.

Because I have read loads about Cadia and NC success there - I got very excited by XTR drilling and looks like some success within 100km of Cadia - Bushranger - in porphyry. And bought some there.

SP is fantastic value at this level for GGP I think - I am very heavily invested already - will be topping up iSA's start of April - have already sold some oil shares to top up with. Tempted to sell some of my Canadian Junior as only phone dealing with them with HL - and trying another ISA provider for Canadian share next tax year.

GLA.

Bamps21

Do not feel you have to justify yourself to those posters - we know you do not lie and you are one of the ones on here myself and many other board long time contributors trust implicitly. I don't have much time to read all the board now - and sometimes just search for posts by users - and you are one of them.

Chin up. Yes our drop from 38 to 18 disappoints all holders me included - I have around 2.1 million shares here - so yet it hurts - but I still believe Haverion is going to be huge, and I still hope we will find at least 1 and maybe more sizweable ore bodies in our tenements.

I do think we will need to raise more funds at some point for exploration - of JV deals need to be done.
Haverion - SD will be able to sort finance for our share of development costs - even when NC go deep underground - by that time I expect Haverion to have grown significantly.

Yes the price of gold and other PM's - especially Copper and cobalt will affect us - hopefully positively.

I have several mining shares - all are down just now. Patience is required - GGP is not for the make a quick buck merchants IMHO.

not a geologist but look here https://en.wikipedia.org/wiki/Porphyry_copper_deposit sort of explains it better than I would. Veins are where there have been opened spaces - veins or fractures in host rock which have been filled with hot magma fluids coming up from depth. The article describes well porphyry mineralisation and breccias.

Have not listened to interview. Came here when bitcoinbuyer tipped it on SML chat.
Reason - I have been in GGP for a while - and have been looking very carefully at the Cadia story for some time - which is same geology as here - as soon as I hear porphyry, close to existing discoveries and infrastructure and in politically safe Australia - I was in. 5K to start then a further 9K. Would have done more but a lot in GGP.

https://www.youtube.com/watch?v=dB77ag0Dj1w this video is a short one showing the success of exploration drilling at Cadia over the years and how the resource has grown. I am not surprised CB is interested.

I don't know which majors he is talking with - Newcrest are a world class partner - AA not bad either.
No funds free to top up more - GLA

Even if we do hit at Scallywag - look at the timings of Haverion discovery.

HAD005 drill results were announced on 01/11/18. The previous holes also had decent results but many say this was the game changer. Share price from 1.1 to 1.8p
5th Feb 2019 - results posted from second Haverion drilling campaign https://www.lse.co.uk/rns/GGP/results-from-second-drill-campaign-at-havieron-nt4ngcgtwmt8lup.html - around 1.8p share price
12th March 2019 - JV with Newcrest announced.
25th July 19 - first NC drill results at Haverion. Started to increase rig count from 2 to 4.
10th Sep 2019 - more results - increase rig count to 5
24th Oct 19 - more results - rig count now 6 and camp being built - getting serious now. About 1.7p
2nd Dec 19 - Outstanding results announced - rigs to keep working through the summer period (unusual) - price rising from circa 1.7 to 2p
30/01/20 - more Outstanding results - still 6 rigs at site - start of the real rise in SP

It took well over a year from Had005 to get the JV, serious amount of drilling and nearly 15 months before the SP started to rise.
So even or when we eventually do hit at Scally - will not be a big immediate rise in SP IMHO. Same for Blackhills - the serious II or majors will want to see plenty drill results.

I think we will gain this year on Haverion alone, but gains from exploration success will not be quick. And far from certain.

Hope I am wrong

TMT is correct - it was not exclusive - I joined but gave up - I cannot keep up with this board let alone a 2nd one.
Way this one is going though - might go back to Telegram. Hopefully get back to more normal soon.

I already had my name down for one - just making sure

Bamps - again great point about how many drills are sometimes required to find the hot zone.
The other big difference is that is costs much more to drill when the hot zone is deep.
GGP either got very lucky with Hav, or CB is a genius - and I hope it's the latter!

Why is owning 100% attractive - and why is having a junior partner also attractive?
I do not know much about this in the mining industry.

Oil Industry - you will find hardly ever in private companies do they own 100%. Sometimes the operator has less than 50%. Why?

When you are investing huge amounts of money in projects (£billions) - it is healthy to spread risk - it means if it all goes great - you are giving up profits - but it is protecting the company from a high risk project. Also oil exploration offshore is very expensive. Juniors are happy to take a minor stake - with the major doing the bulk of the work - but the junior coughs up their share - with not a lot of control - hoping they have left it to the experts.
Downside can be getting agreement from partners when things need to change, especially when more money is needed. This can slow things down.

In 2021 - Haverion - grades and results from infill drilling keep improving - and we have new targets and are finding gold/copper still and new mineralisation during infill drilling, and open in multiple directions. It is growing and ill continue to grow.

The drill will be going in the ground in other areas - I am hoping we find another hot zone, or even better - more than one - but finding these hot zones is not easy, and we were very lucky at Haverion (I hope CB proves me wrong).
GLA.

I still think NC would be smart buying a stake in GGP at current prices or lower - yes 20% would be 800 million shares - but many are being traded, and yes would have to be done slowly and quietly or share price would increase quickly. So it might be very difficult, and that might put them off.
But I think buying 20% now will cost less that 5% of Hav only at FMV after FS, when hopefully our MRE will be larger - and still growing.

Anglo American - interesting thought - I have some shares in XTR - looking quite exciting I think - although very early in drilling - Racecourse/Bushranger - 100Km from NC owned Cadia, and 5th drill going into a very promising porophory discovery - no assays yet from earlier holes. AA have the right to buy this back from XTR if resource >2mt.

If AA have eyes on Australia - NC may look very attractive.
All pure speculation. I am here for the long haul.
Find it hard to read all the board due to work - missing some posts from Hydrogen and the info he gets about share ownership.

I have posted several times that NC would be better building a take in GGP at current prices - say 20% stake - which is 1/5 of GGP 30% share of Hav - or 6% - 1% more than they would buy the 5% at FMV.
The questions is what will be the price of 5% of FMV.
To buy 20% of GGP currently is less than £200m. You get 30% of Haverion - and NC know more than anyone likely size of MRE, plus you get 20% of all the other assets. They already have 75% of JURI - if they want for £15m spend.

I saw the takeover of GT Gold yesterday - very interesting.
I must admit - if we were being taken over - was hoping for upwards of £1. But it depends on the luck with the drillbit.

MrEMC2 - I just sold a chunk of Non ISA held oil shares - been saved over many years - have recovered a good bit but not back near previous highs - but wanted the sale in this tax year - money for ISA top up in April - good dividends but paying 32.5% tax on those.

Cars - I am also boring and think before going electric I will get the good of my coming up to 5 year old motor that has now done 24k miles. Hardly done any in the last year due to lockdown.

Enjoying the board better today after last few days - expecting more good results tonight - anyway will be interesting.
I still think we will get next 4 scally results along with the 2021 drilling plan. Not expecting any good results but you never know - 1 hole might have something! can only hope.

I do not know if they have them or not - but I think we will get them in the RNS for the 2021 scally drilling programme - but wild guess on my part - but the data from these will determine the 2021 plan for scally

Bamps - when you are posting valuable posts - write them in a word file - and save this - and paste the posts in. Good search in Word.

Keep on posting

watched the interview - very interesting - helped Northern Superior - closed at 1.5$can tonight - really liked a lot of what he said made perfect sense. Very interesting his thought on structure of junior miners and how important BOD are. I concur with this.

5 in 100 juniors will make you money. I am liking the look of XTR just now - but still early drilling days and speculative. Got some funds this week - went to XTR instead of here - more risky than here.

Lupi/Cornish/Fira

North Coast 500 - I know people who have done it and loved it - I have not. have not been much to the West Coast of Scotland - must do it some day - before midge season.

Lupi - I cut my grass too on the 28th - earliest ever for me. Ne'er cast a clout till May is oot though.

Trout - thanks for clarifying.

There is still hope of a bright SML summer!

CornishKnocker - living in a NE Scotland fishing community, I have been loving watching the Cornwall fishing programmes.
Up here fortunately, we have not been priced out of our villages and towns - and unfortunately we hardly have any tourism, but maybe the weather has something to do with this - however we do have spectacular golden sandy beaches and rocky cliffy coastline - it is quite beautiful.

I have given up any hope of a holiday abroad this year - would love to visit Cornwall - but any UK staycation this year is I think going to be terribly expensive and terribly crowded.

Fira - have been reading your posts - hope you are the family are continuing to recover. I only wish the SMP share price recovery was as quick!

Like any shareholder - I welcome the RNS and the rollover of the Cobre agreement - which keeps us afloat in the short term without further raise or dilution.
One line mystifies me "excluding sales relating to CV Investments LLC" so sales grew when you exclude these ones - but does anyone have any details on this?

Sammybow - like any other shareholder with million of shares, we have the right to question anything this BOD produces in any RNS given their past performance of economy with the truth.
I could sell up at a huge loss and move elsewhere - but I choose not to - because of the Redmoor asset mainly, and still some hope that LC can eventually move forward and start generating income - either with JV or raise.

Everyone is entitled to their view - I do not share your unbounded optimism - but hope you are correct and I am wrong.