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Omg, there really is some nonsense posted on this board. The rns mentions visible nickle sulphides at 327m and between 348m and 354m, that is VISIBLE nickel sulphides!!! That does not mean that there is no nickle in the rest of the core, only that it isn't visible to the initial assessment. Guess what, that is why core samples are always sent to a lab for analysis because that is how they need to be analysed to determine an accurate measure of metal content.
Pawning the family silver was a very poor idea and was always going to end badly. Peed, wall and up spring to mind.
Happy days, thanks for sharing Tray. Hopefully this will keep the price down for a while longer so that some of us can continue to top up. Eventually the selling will stop and "the market" will get to grips with understanding POW's business model. When that day arrives I want to be sat on an awful lot of these.
There seems to be a bit of this going on
https://m.youtube.com/watch?v=F-6VkeBv3G0
ElectricLion, I agree, you are absolutely correct in that. In mitigation I would add that I have sold most of these. I bought a truck load at 20p and then sold them all at 40p, this brought my remaining exposure to the clown way down. I did hold onto quite a few shares because I liked the asset and mistakenly thought that even MC couldn't totally mess up such great potential. Sadly I was totally wrong to keep the remaining shares, totally wrong to believe a single word MC has said and totally wrong in thinking that he couldn't mess things up.
You are also wrong, this dismal failure is 100% the fault of MC. If the mine was up and running, producing 100k oz pa and throwing off cash then you would all be giving him credit and singing his praises. As things stand the project is a failure and as such he carries the responsibility, he does not have indemnity. I posted years ago that his ego was getting in the way, he should have stepped aside to allow more capable hands to take over. This deposit could have been producing 20-30k oz pa years ago, with high grading the debt would have quickly been paid off and then cash-flow could have been used to prove up a multimillion oz resource and expand production. If I knew that years ago then why didn't he? Because he never had the slightest intention of taking this to production. He has built failure from a situation where it should have been almost impossible.
Surely if there is one thing that we should all have learnt by now it is that we can hold no faith in anything MC says or does. If any of the MC cheerleaders disagree with that then look back at his track record and where we are now. He has made lots of poor decisions, was always out of his depth and has never intended taking this to production. He has played a 12 year game of poker, bluffing all along and sadly doing it very badly. All long-term holders should brace themselves for a good seeing to. Please don't say that he has put 12 years and xyz into this, he has been working in a job, as we all do, and he has been VERY handsomely rewarded for his poor efforts. He will now be looking for a deal which benefits him and Mellon, we are now incidental.
I used to work in child protection for our local social services, as a result of which I went into the homes of many benefit recipients. Invariably they had a TV the size of a cinema screen, Sky or similar, smart phones, cars and were usually smokers. I can only speak of my own experience in Britain and that experience indicates that non-workers are well provided for in this country. I have found that low to middling paid workers are the real poor in this country, because they make the effort to work then they are often ineligible for financial assistance. Hence people may be disincentivised to work. People have said to me such things as "if I work I will only be £40 a week better off, I aren't working for £40" . Rather missing the point that one is meant to take responsibility for oneself and family not live off other people's resources.
At these bargain basement sale prices it would simply be rude not to have a nibble. Picked up another 200k, cheap as chips.
More and more I realise that management is 95% of this game. Great assets, great grades, fantastic prospects and opportunities mean absolutely zero if management is lazy/dishonest/incompetent etc. We have top notch driven management who's interests are aligned with ours and who keep up well informed. AIM is a hunting ground for thieves and conmen, PJ stands head and shoulders above most of the AIM management pygmies. I've learned this the hard way over rather too many years.
As PJ says in RNS
"The gold mineralisation identified to date is near surface, significantly de-risking any mining proposition. And the Project is centred on the former working gold mine, Cherished Hope, with gold fines dumps available for processing at a local processing site, potentially generating revenue for further exploration and development of the Project."
i take that to mean that further exploration is now justified and subject to permitting and commercial agreement that exploration could be funded through toll milling of spoil heaps.
As he says it is significantly de-risked and suggest a wsy to fund it without further dilution.
It does make you wonder what their next totally inept value destroying move will be. I'm not sure that I've ever held shares in such a self destructive company before. If it wasn't for the nsr I would have dumped these long ago. I'll be hanging on for that but I'm far from convinced that the board won't co(k that up in some way. We shall see but in the meantime the cash will be very handy for salaries and jollies.
Excellent interview, he couldn't make it any clearer as to why he will work like crazy to increase the share price and how his interests are aligned with ours. I'm a real fan of his straight talking style and how he cuts through the cr@p
Reading between the lines of how Paul answered the NDA questions I would be inclined to hazard a guess that NDA(s) have been signed.
I think that we are in for a few very exciting and hopefully profitable months.
Apologies for being lazy but does anyone know off the top of their head what the approximate value of our Australian % is?
Our market cap is only about £4 million so our Canadian assets must have a risible value given to them.