Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I appreciate we are in a scenario where we are largely dependent on the Peru situation improving, but I cannot believe that there is no news at all. Surely something is happening behind the scenes that is worthy of an RNS to stabilise the sp?
My suggestion is that seeing as there is nothing happening that is worthy of our attention, I imagine Brad has plenty of free time on his hands. So maybe we give him something to do that encourages him to put out news more frequently, like give him some emails to reply to.
B.GEORGE@OROSUR.CA
Important we all remember the good here. In the grand scheme of things it wasn't that long ago that this board was really positive with talk of elephants, buy outs, the next GGP etc. As far as we all know drilling is still happening with no reason to believe anything different. We know the 5th rig was added long before we were told almost as an afterthought as part of the Colombia update RNS so for all we know we may now have 6 or even 7 rigs turning.
We don't know whether all 5 rigs we know of are at Apta or whether we have commenced at Guaimarala, Charascalla etc. We know communication has been often delayed or poor but remove the Covid delays at the labs which are affecting many junior miners at the moment and take a step back.
I was happy to buy at high 30s before covid delays announced and even though we have done far more drilling and made much more progress we can buy more at 16p!? Newmont, Agnico, Elephant all words which should make us positive and see this as a huge opportunity. For new investors this is a ridiculously cheap entry price.
Remember the email from Brad to DrRemington, "assume no news is good news"
5 rigs in a short space of time as well. Extra rig on each set of results, Director buys whilst small on every set of results. Buy and put away until the market wakes up, it might take a while but this is a serious opportunity to load up at a massive discount. Unfortunately I have no free funds which is making me feel very frustrated that I can't buy any!
AG1989, certainly makes for good reading. To think that more people aren't buying at these prices leaves me completely amazed every day. Don't know what it will take for people to wake up to what we have here. No share is a nailed on success, but the upside here at this price is far, far greater than the downside. Newmont are happy which is as good a reason as any to buy here.
PR isn't just Twitter, and ECR only improved their comms via twitter because they were slated for their content. We slate the company and they pull it entirely! Website outdated, poor comms, no idea whatsoever who our major shareholders are, failing to inform us when 5th drill arrived, no more presentations or investor calls, every positive RNS including a statement which can be viewed negatively etc. From day one I have been a complete believer in what we are doing here and feel the opportunity we have even at 40p is incredibly undervalued and I'm confident we will come good, but it's time the company listened. Every 1p drop is approx £2m off MCAP, that more than justifies PR imo. We can only view this as an opportunity to load up, but the majority watch a relentless slide and choose to "wait for the bottom" before they invest.
When is a good time to promote the company? This has been on a consistent slide now for months and whilst we know covid is the reason it doesn't excuse the silence from the company. I fully expect to walk away from my investment here when we are many multiples of current share price but they don't do PR when SP is doing well and they shouldn't when it isn't because it's wasting money?! We have dropped from a high of 41.5p to 16p in 3 months or lost £40+ million from our MCAP when the assays have been good, the time for a bit of PR is now. I'm sure the money they raised from the placing has accrued enough in interest already to finance 12 months of quality PR. An RNS every couple of month's because of lab delays isn't enough. Tell us what's happening at the moment, detailed drilling plan, are you looking at other potential prospects etc? Speculate to accumulate.
I think they owe it to all shareholders to improve PR however they choose to do it. They should be looking to maximise value for all of us. I'm sure they're very busy, and I would much rather they focused on finding gold than personally trying to do it. So far they haven't done all that great in presentations with talk of elephant country etc and I recall Brad in one of them saying he had no idea how Twitter worked. More to PR than just Twitter, having a user friendly up to date website would help. No more excuses just get it done. Many of us are facing considerable paper losses, and the silence is deafening.
"The main objective of public relations is to maintain a positive reputation of the brand and maintain a strategic relationship with the public, prospective customers, partners, investors, employees and other stakeholders which leads to a positive image of the brand and makes it seem honest, successful, important, and relevant."
The standout detail here is because of no PR, if we aren't talking about Orosur, who is? It's a hell of a way to reduce the value of a company! We are wholly responsible for pushing all of the positives whilst the board sit and say watch this space. Happy I'm here and excited for the future, but they need to pull their fingers out rapidly. I don't know why they don't just employ a reputable PR firm with the funds they're sat on from the placing, put it in an RNS and up we go!
The biggest issue here for me is probably the lack of communication from the board. We all believe that this can come good, and I fully believe it will but the radio silence is nothing short of insulting. I can't honestly believe there is no news we could be informed of, you would think given the covid delays we are currently dealing with they would be trying to prop up the sp as best as possible instead of letting it slide and saying "assume no news is good news"
The removal of Twitter was partially justified because it was just a rehashing of old RNS's but why remove and say we are looking to complete an overhaul of comms in the future? Do it now. Still awaiting an update on the website also of the major shareholders list which hasn't happened since December.
If anybody at the company reads this board take a look at ECR Minerals twitter when you decide to reintroduce as their updates are excellent. Video, photos etc.
I think a lot of the problem here is people are waiting for the bottom but none of us know where it is, then we have a couple of good days and the same people disappointed that they missed their entry continue to wait hoping it drops back which it inevitably will because the people who did buy in see it falling and then sell! Its a vicious cycle and until volume increases we will remain at these levels. The time for buying is now, watch sentiment return when everybody realises how cheap this is and starts loading up. I know it's said way too often but we could get news any day.
I just hope whoever is selling is selling at a profit because to sell at a loss with what we already know and the JV partners we have is beyond idiotic. Any day we will inevitably get game changing news and this will rocket. Then watch everybody scrambling to get back in at a premium whilst we were all happy to buy at a nice discount!
Hindsight is a wonderful thing, I remember selling GGP at 3.4p and thinking I was a genius, the rest is history. This is such an opportunity given what we already know with so much more to come. We are at the start of the journey and whilst newsflow has been slow recently due to covid, we could get a glut of news any day. The progress we have made since the first drill arrived has been remarkable with an additional rig on every set of results. Accumulation time currently, bargains to be had if you take a step back and look at the bigger picture.
Any buyout would be relative to what they ultimately find and deem our value to be. Current drill results have been very positive but consider where the sp may be when we eventually get to La Cejita. Whilst Newmont would get 80% anyway, it depends what our MCAP is at that time were they to wait.
Another explorer we are all familiar is GGP, and whilst they are the holy grail of explorers I remember at one point their MCAP was approximately £1.4 Billion. As an example 20% of that would be £280 Million. Do newmont want to pay that then when they could pay maybe £100 Million now, especially with the price of Gold forecast to raise considerably. Its all ifs buts and maybes, truth is none of us know what Newmont or Agnico are thinking. The future is bright for us whichever way you look at it.
I agree that a takeover offer near term does seem unrealistic, but like you say whilst the majority of us are here for many multiples of current sp, following your example of 60p per share that would still be a healthy return on your investment if buying at current levels. Happy to hold here long term and accumulate, whichever way you look at it, we are way too cheap at the moment and a massive correction is way overdue.