Member Info for whitebuffalo

My expectation is that the share price will improve by the end of November. I said I would by more today if the sp was still 0.47p - and I got my £20k worth for 0.42p, so I'm content that this period of uncertainty has been an opportunity.

By the end of November almost all the plant will have arrived, the licence transfer will (hopefully) be settled, the mining code implications will (hopefully) be known, the budget implications will be known, and the US elections will be out of the way.

Now, I just plan to wait.

I don't think it was unreasonable for shareholders to have assumed that the company would have spent the extra time that it took for NDEP to issue the permit making sure everything was ready to go with the mill; that they would have been in a position to hit the ground running the moment the permit landed. So, now, it kind of feels like the company is that person ahead of you in the line at the till that only starts looking for a means to pay once the cashier tells them that it will cost money.

I own more of these shares than most of the directors, and I bought them on the expectation that the company would have all their ducks in a row ahead of the permit landing. I regret the other opportunities I could be taking advantage of because GWMO is so illiquid, and currently in limbo as to whether they're at the beginning or the end of the mill commissioning; whether they've even started the process of increasing the annual permitted throughput allowance; whether they're begun the permitting process for acid leaching; and how far along any talks are with whatever this copper thing is turning out to be. My reals hope is that they find an acceptable JV partner to progress the copper and the mill comes online with sufficient throughput to cover the ongoing costs of the company.

Please explain why you think the director's shareholding is different to any other shareholding. Why do you think Brian's holding would be treated any differently?

Please

I think it's not just about KOD. A proportion of investors will always be more averse to risk, and any potential delay or uncertainty (like what the real implications of 2019 vs 2023 are) will seem risky to them. Also AIM just doesn't have the weight of money sloshing around that it used to, so the sentiment drag of MMs needing to making their spread and traders looking for their 5% pulls everything down. Even when thing do go up, they rarely stick. People have a lot less patience, because they think everyone else has less patience, and they worry about being the last one out.

If the share price is around here next Friday I'll be buying more. I have patience.

It is frustrating. But, we know (or are highly confident in our expectation) that the end of the year will be transformational... so it's an easier hold than any other share I've owned.

I think the answer you are looking for is that AIM is a tragic parody of a market that makes any logical sense. I've given up thinking good news will translate into positive sentiment.

I'm starting to wonder how much more good news the share price can sustain. I hold more of these shares than many directors, on the expectation that eventually the share price will gain some sustained positive traction...but AIM almost always disappoints.

It doesn't help that the spodumene price has dropped about 14% in the last month. Perhaps some folks initially held out hoping it would reverse again or that expected news would counter the psychological impact of that?

I'm holding because in the near term I expect the mine will become self-evidently viable even if the spot price remains as low as it is now.

Weekend work will require shift working also. It's not going to be the say guys working 7 days a week.

Regardless, I'm more interested in what the plant is doing than the people. If it's 10 hour days the assumption is then thatthe maximum throughput is 20 tons an hour. If it's 14 hour days, the inferred maximum is 14.3 tons an hour.

Again, with some assumptions. It's easy to overlay 70 onto 7and assume it'll run 10 hours a day. But maybe it won't. Maybe it'll run 14 hours a day for 5 days a week, and maybe that 200 tons per day is based on that. In lieu of a definitive statement, I prefer to make conservative assumptions. I can then only be pleasantly surprised.

No. That's why I asked the question.

You've presumed the mill can run 7 days a week. Do we know if this is true?

Do we expect the final permit will have a higher annual processing limit? 18,000 tons seems very low.

Thank you for posting this, but I can't follow your numbers.

Using the figures you've provided:

5t/h x 70 hours x 48 weeks = 16.8kt/year not 27.4kt

Ignoring the value of the silver as it's immaterial, if there are 1600oz gold in 31kt of spoil then there is 867oz gold in the 16.8kt that can be processed in a year, initially.

Applying Phase 1 gravity recovery, 433oz of these 867oz can be recovered in the year.

At $2000/oz these 433oz are worth $866k

As this is concentrate, 90% of that $866k is $779k

That $779k in £ is £612 per year.

As the JV is 50/50 GWMO can only realise 50% of this recovery in any timeframe, I presume. So at Phase 1 at a 5t/h processing rate, GWMO should expect revenues of £306k per annum or £25.5k per month.

As long as equivalent or better feed spoils/tailings/whatever can continue to be found, one can extrapolate how revenue will adjust proportionally upwards if the processing rate is increased from 5t/hour to 10 or more (it's hard to directly translate what the hourly limit will be from the 200t/day limit given in the RNS today). Revenue will also additionally adjust upwards substantially when Phase 2 chemical recovery is implemented.

Lucky, except lions do need protecting, what with habitat destruction and trophy hunting.

Personally, like many a January before, I'm now hoping that any significant SP increase will hold off until around the 7th April.

If the shareprice could just sit around here until Friday, I'd be much obliged.

Actually, Gecko, the average person has an IQ of 100, that's just how the measurement works.

Mr Y,

So, I think what they're saying is "in year one, we'll dig up the choicest bits first and these areas will have a higher density of pgm per tonne of ore than the average for the whole area".