Member Info for thelearner

Https://www.proactiveinvestors.co.uk/companies/news/905226/a-reinvigorated-alien-metals-is-all-set-to-become-the-markets-next-multi-million-dollar-prospect-generator-905226.html

Also mentioned in this Oct 2019 article about how the company was going to be grown by Bill. Artemis Resources own 3.4% of UFO and it said in the previous article I posted his family were founders of that company.

Hi s LinkedIn profile looks interesting, posted about Alien Metals 1 week ago, and says was involed in foundation of Alien Metals https://www.linkedin.com/in/richard-shemesian-1a100332/?originalSubdomain=au

I just got a quote to buy 1.7 million easily with HL - but not sure I want to put any more hard earned in here yet.

Mr Mellon is now the Chairman of Condor Gold - CNR. I first invested there is 2017 after watching an investing video where he was singing the praises of this company and predicting gold price would reach $5000 per oz. He did follow up his belief by investing hard cash, now owns about 25% of CNR, he is we think sitting with a loss but a lot of his shareholding has been warrants etc.

Personally I am on 50% loss - I do hope they can sell the company/assets although been up for sale for 1 year now.

He should have got finance and built the mine and became a producer IMHO, especially before the cost of loans increased by multiples, the cost of loans is one of the reasons there are not buyers piling in. The cost of raising money to build a mine and inflation has changed economics of gold/copper mining and the price of gold/copper has not quite caught up.

Like most here I do hope it does. Mr Mellon made a lot of his money in the far east and Russia.

I still hold every share I have bought in GGP, and like most here hope in the long term it will cover all my other AIM losses. I have missed numerous opportunities to exit from shares at a profit. Luckily I have also been invested in funds, and the performance of tech stocks has been impressive over the last decade.

Mining - it takes a lot of money to find an ore body, even more money and a long time to build the mine and get to production. For GGP I read the concerns about MRE. We are lucky, Telfer is already built and very close, there is a lot of high grade material, less tonnage to truck to Telfer, and high output per ton, which will pay back hav costs very quickly.

Then we can move on the hopefully huge volume of lower grade material which can be bulk mined - if you look at many large mines, they have all expanded greatly after the first phase development over a long time.

This is a very long game we are in.

Nero - when I bought my first Condor shares in Sept 17 at 46p, Jim Mellow was predicting a gold price of $5000 then. I do think it is going to go higher in 2024 - and you may be correct this is what he is holding out for.

It's easy with hindsight, but we should have built the mine when finance was cheap and became a producer.

A JV is the other option, but not sure others in Nicaragua are interested.

Wish I had bailed when we reached 36p after the 15p raise at start of year - story of my life!

Very interesting thread.

I completely agree that I could never understand why NC never started to build a position in GGP when the SP was still quite low at start of Hav JV, and posted about that on here - they would have been able to get an additional 5% of Hav cheaper than at JV transaction point, although the spectacular rise in the SP to ATH may have stopped that.

I am now just above my average, never bought enough when SP was in single figures, and bought at 33p and all the way down. I have not made any money in the AIM mining sector, and am hoping GGP will take care of this for me.

I am not convinced NM will make a bid for Hav or GGP. GGP have a lot of good exploration ground, but in very virgin territory, I have always while investing in GGP been quite hopeful we may find another elephant like Hav, and have accepted this is a long game, with no guarantee of success.

Before I cam to AIM, I mainly invested in Funds and am pretty sure my long term returns would have been much much higher had I continued on this track. Like many I could have got out of here with a very decent profit above 30p, GH was one of the very few really smart ones. CB remained invested and never sold - and nobody probably understands better what is potentially underground on the GGP tenements - which gives me some hope. But it's AIM and you never know what is around the corner.

Been here since August 2020 - first buy at 0.25 and missed some good opportunities to take profit when we reached 2.4p in October that year - was not a big holding but have taken a punt this morning again and bought 2143302 shares. Take my average down but still need 50% from here to break even. Just have to hope this BOD can get us to production and hoping for increase in silver demand and price to make EH viable to redevelop.

GLA

I agree with Topslicer's post - except the bits about desperately need news. Bad news will let the MM's drop the SP even further.

I do agree we need to put our trust in SD (agree that compared to most AIM Junior Miner CEO's how he engages with shareholders is a breath of fresh air), and let him manage the best strategy for GGP and his shareholders who is s duty bound by law to work for and protect. Many things, biggest being the Newcrest/Newmont merger and what Newmont decide to do with Telfer/Hav are largely out of his control. He and his team have undoubtedly war gamed all outcomes and have a prepared strategy. I like a lot of the recent things done, JV with Rio, acquiring new ground, prep to put drill in ground at EG, but like all junior explorers - putting the drill in the right place depends on judgement and luck - look how close Newcrest were to Hav before the gave up.

Like many here of course I kick myself that I never took profit (like GH) in high 20's to 30's. Like many I continued to add all the way down, and am now 25% below my average. But I decided to invest here, and am still optimistic Hav will be developed and deliver money to allow SD and the team to build GGP, hopefully finding other deposits with the drill - drilling being paid for by Hav profits.

I have been a mainly reading lurker on here for years. IMHO Seingred has almost always been on the money when he has posted, and he has clearly traded this share quite a lot and openly disclosed this - I have held every buy - more fool me - have had opportunities to take profit, most recent when we got to 36p and now regretting not get getting out then. My 15p buys got my average down to just under 31p - holding 172240 shares, my first buy was Sept 2017, brought here after watching JM encouraging PI's to invest.

I know many others have held much longer than me and have higher averages - I am hoping to get out soon, with a modest profit. Have given up on hopes of doubling my money.

Not sure he is talking specifically about GGP - maybe a TSX listed company - but certainly what he is saying makes a lot of sense how II's are behaving with Junior miners. In CNR - the last raise and placement was materially very good for Jim Mellon the major shareholder, not an II but Chairman. Shareholders got to take part in placing, but no warrants for us - there never is.

Don't post much here now - but read a lot - I am disappointed but not surprised in recent SP volatility. It's AIM, markets hate uncertainty, and we have that here now with Newmont takeover of Newcrest.

Of course shorters are going to use this to their advantage. I don't think SD and his team can do much more than they are doing - all they can do is be ready to react to any move by NCM/Newmont in relation to Hav/Telfer, put the drill in the ground at Scally and Rudall and release results quickly if they are very good.

That video shared by Nap was very interesting saying gold price rise of 30% led to 65% rise in gold funds and some miners, but nothing for juniors who always lag behind. I came to AIM with the hopes of big profits, yet to materialise but like many I missed the chance to take them here at 30p+ and have bought all the way down.

Funds may have been a better option, but I think we have 1 quality asset, potentially some more to be found, and a quality team in charge - who will have a long term plan to build a major company - and if there is short term pain for SH then so be it. This is a long game. Many retail investors do not have the stomach for this. And given the performance of some AIM junior miners, not sure I disagree with them - but I'll be holding here.

I should have looked at the Nov 2020 JV instead of March 19 one - but Bamps as usual was ahead of me. So if Newmont decide not to mine, we are back to Fair Market value.

Https://polaris.brighterir.com/public/greatland_gold/news/rns/story/xp4py3x nothing is mentioned in the original JV about what happens in the scenario Starbright mentions - if the 70% managing JV partner decides not to proceed and sits and holds.

There will be a detailed legal document - only GGP/NCM board will know what it contains - but I think it's not at all important.

Telfer needs ore feed to keep it going. Currently if Hav is not mined Telfer will have to be shut down or mothballed as AISC will continue to rise. So my opinion is that Newmont will either decide to

1. Proceed with HAV development under the JV - hence the DFS will be very important as will upgraded resource estimate

2. Try and buy GGP share of Hav so they own 100%, but they may like GGP a a partner given Rudall drill and promising results at Scally.

3. They will put their 70% share of Hav and Telfer up for sale.

Is there a scenario where they will park Hav until later - I do not thinks so but who knows. Only time will tell.

SD has built a very good team, who know how to mine, and do deals including acquisitions, disposals and with a very long and experienced contact list in the top Australian mining companies.

I struggled to refind it and struggling to link to it - have screenshotted it but cannot post here.
https://twitter.com/AiMMoves/status/1650876668574146561
see if this works - was a reply to a tweet by Trades@AIMMoves

Yes - especially giving the declining Cobre sales volumes year on year. The BOD have to look at ways to reduce costs.

This was a retweet I saw on 25th April from RemberingTheFuture (Peter Wales)

"Yes & the MD & I each own c4% of the company
We're at the stage now where "less bad" news can actually be positive & we are well overdue for a recovery phase for the company.
Despite what some think, we are working hard to achieve that"

I'd like to see a bit more evidence of the hard work. They are all across several companies.
Tweet showed John Peters holding 81,000,000 shares 4.02% o company and Peter Wales 80,767,266 4.01%

I bet they paid a lot less per share than all of us. While being paid handsomely as the SP has crashed, and Cobre sales have dropped.

From the front page of SML website "A profitable producing mineral company actively developing projects
tailored to materials expected to benefit from strong future demand" you could not paint a red face on the BOD.

Totally agree with the comments bout the BOD and their salaries and the famous JP bonus.
Who honestly would participate in a placing - the Manners family must be sick of this - must have lost an awful lot of money, and the recent UK investor must also be regretting the investment.
Cobre magnetite sales have fallen year on year. Does not look good.
Only way forward for LC looks like giving away a large chunk of ownership for the funds to start the mine.
Also given the sored relations between Australia and China - this greatly reduces the amount of potential investors.
Not sure what work the BOD are doing to justify their salaries.

4.76m shares between me and the missus - av 1.42p - I'm in.
Also would be happy to get out of this with 50% loss or money back - I have strongly resisted the urge to average down, I just cannot see how the directors can justify what they take out of the company. The JP bonus was a disgrace.

Of course all of us here would like a bidding war. But best not to get carried away - companies will put a valuation on the asset of CNR as a whole - and will not exceed their maximum purchase price - a bidding was though may mean nobody can buy it below their maximum purchase price.

I think a Chinese company may be favourite - Chinese miners seem to go for assets in low cost regions, biggest one operating abroad is Zijin Mining Group, The year 2022 was a big year for Zijin Mining in terms of M&A. The company completed 10 acquisitions within the year, spending a total of RMB 31.9 billion, more than any other company in the industry. They are already operating in South America.

Who knows who the companies with NDA's are - you'd also think some of the companies already operating in Nicaragua would be taking a look.

Hoping the process moves along quickly, although willing to be patient for the right price

I have only been here since Sept 2019 - much less time than many others - and although I hoped to see CNR turn into a miner, will be delighted if I can get out of Nicaragua with a profit. I don't think I'd invest in juniors again operating in politically unfavourable locations.

"In January 2016, the portfolio was expanded with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia prospective for cobalt, nickel sulphides and rare earth elements."

Then in Half Year Results to June 2020 RNS https://irs.nbtrader.co.uk/ir/StrategicMinerals/newsArticle.php?id=31142820685576646&ST=SML

CARE

"As a result of the inability to locate an economically feasible deposit on existing tenements, the exploration assets were fully written off in the 2019 financial year and the Company has begun winding up the subsidiary."

It's hard to find the details and I don't have enough time just now, but that region is considered to be highly prospective, but like SML many juniors now struggling to find money to explore in real virgin areas.

From this RNS https://irs.nbtrader.co.uk/ir/StrategicMinerals/newsArticle.php?id=2552248&ST=SML in 2018

"The Company has agreed to arrange the sale of the following tenements to GSN:
- E38/2829
- E38/2442
- E38/2587
- E38/2856
· The tenements in the agreement are 100% owned by CARE.
· Total consideration for the sale is AUD 145,000 to be paid by way of AUD 100,000 in cash and issuance to CARE of 1,000,000 shares in GSN at an issue price of AUD 0.045. A non-refundable deposit of AUD 50,000 will be deposited on exchange of contracts and the cash balance and the shares will be provided on transfer of title.
· 500,000 GSN shares will be subject to a voluntary escrow until 30 December 2018, with the balance voluntarily escrowed until 30 June 2019.
· The sale of these tenements channels the Company's focus for CARE on nickel/cobalt and rare earth exploration.

Financial results for year ended 2018
"Divestment of non-core CARE tenements for $102,000 (AUD $145,000). While these tenements may prove prospective for gold, they were mainly held for their rare earth potential which has been discounted and hence considered non core.
· The Company continues to focus its strategy on metals and minerals likely to benefit from an expected boom in the battery market and is pleased to see that prices for these metals and minerals, in 2018 and into 2019, continue to improve in line with the Board's expectations.
Drilling programme conducted at CARE's tenements at Hanns Camp, Western Australia resulting in findings for both cobalt and nickel sulphide."

Like a lot of things with this BOD - lot's of smoke and mirrors - the website still says we will start production at LC in 2021 and Redmoor in 2024! I mean our BOD have been a bit busy in the last few years! Most companies in their position would have done some cost cutting.

Still - might be saved by rising copper prices and LC if we ever get PEPR and finance. Rare earth minerals however is where a lot of interest is now.

https://www.youtube.com/watch?app=desktop&v=qN7a3crJGo8 interesting interview with Ross Beaty - in it he says lot of focus on gold and price - but real interest is in anything but gold - copper, nickel etc. He says Junior explorers undervalued and market will correct and big gains to be had.
So lets hope BOD get PEPR and deal done and make a start at MOL.

If you were one of the serious bidders hoping to buy either the asset or the company, would you start to buy some shares on the open market when the prices are low? I know it's sort of double edged sword as demand increases price - and would you be able to buy enough volume to save you some money on whole purchase?