Golden Metal Resources Share Discussion Threads

[someuwin] 25/1/2024 06:58

First equity

"...Valuation & Recommendation - As Pilot Mountain is the most advanced project
with a MRE, our valuation for GMET centres on this interest, using a risked in-the
ground valuation estimate approach. This gives a base-value of $58.2m (£44.8m),
comprised of the existing resource ($41.6m) and exploration potential ($16.6m).
A notional 5% value for the in-the-ground tungsten resource defined at ‘Indicated’
level is applied and 1% for ‘Inferred’.

Although other projects such as Garfield, Kibby Basin and Golconda hold potential
to become ‘Company Makers’ and add significant value for shareholders, for the
time being until we understand more about them from further exploration work,
these have a ‘To Be Determined’ (TBD) value.

A £44.8m sum equates to a 35p per share valuation, offering considerable uplift
from the current share price of around 10.50p.

The market still has not priced in the progress made by GMET since listing as well
as the exciting results achieved recently at Garfield, along with the growing
importance of a potential future domestic tungsten asset to the US, and high
probability that some form of non-dilutive grant funding can be secured within the
near term for Pilot Mountain. With these thoughts in mind, we recommend the
shares as a ‘Buy’ with a price target of 35p per share."

Full Note here...

[the count of monte_cristo] 25/1/2024 01:46

Pilot Mountain - 2018 Scoping Study





Worth noting that costs will have increased but the 2018 scoping study detailed a very manageable Capital Expenditure range of $30 to $35 million.

With funds from the US Gov to progress the project, one could expect a potential doubling in the size of resource and scale of the project, therefore an extension of the mining life from say 12 to 20 years (my estimate). Additionally, if one looks at the numbers currently of how much tungsten the current project contains and would supply to the US, then projects forward the potential of what it could supply with an expansion in the resource base it is looking even better. A fairly wealthy PI could acquire 1% of the company, which would theoretically give them a 1% ownership of THE largest tungsten deposit in the US - I find that quite appealing. Current market cap is now 9.8m GBP.

[the count of monte_cristo] 24/1/2024 12:00

Exploration stocks don't do revenue.

[blackhorse23] 24/1/2024 11:40

Added APH this morning

[blackhorse23] 24/1/2024 11:39

Any revenue news yet?? Group might need placing for their project

[algernon2] 24/1/2024 11:22

Yes, it's all shaping up nicely here and at POW finally. Confidence is high for this year (2024) being a good one.

[the count of monte_cristo] 24/1/2024 10:06

True...

However, for me the discovery phase is where THE most money is made and I am liking what I see with Garfield.

[someuwin] 24/1/2024 09:56

The real big news here will be award of non-dilutive US Government funding. Which could drop at any time!

This was from June last year...

- The Company considers that Pilot Mountain hosts the largest known undeveloped tungsten resource in the US.

- The US is currently without any domestic primary tungsten production with their largest import partner for the critical defense metal being China. Beginning January 2026, the US Department of Defense (DOD) is banning the use of mined tungsten from China, Russia, North Korea and Iran in defence procurement.(1)

- Golden Metal recently signed a tungsten concentrate off-take letter of intent with Global Tungsten & Powders LLC, a leading United States supplier of tungsten powders and semi-finished parts.

- As a result of the above, the Company believes it is in a strong position to seek out non-dilutive grant funding. If Golden Metal were to receive such funds, it would enable exploration and development at Pilot Mountain to be accelerated.

- Golden Metal is actively working with Mrs. Chang Turkmani, who on 5 June 2023 was officially engaged as Strategic United States Government Advisor, on how to shape its general strategy as it relates to further increasing the profile of Golden Metal Resources and Pilot Mountain within the US and abroad.(2)

- As soon as it is possible to do so, Golden Metal will provide the market with updates as it relates to progress made towards securing non-dilutive grant funding, which would allow the Company to fast-track exploration and development at its flagship Pilot Mountain Project - with the ultimate goal of establishing Pilot Mountain as the only domestic US primary mined source of tungsten.

Oliver Friesen, CEO of Golden Metal, commented:

"While at this time we cannot disclose many details about our strategy as it relates to government funding opportunities, the recent appointment of Mrs. Turkmani should clearly signify to the market the endeavours we are making on this front.

[the count of monte_cristo] 24/1/2024 09:15

Free float is tiny.

[rolo7] 24/1/2024 09:08

yep lack of shares to buy here up to 15p then 20p end of next month. Directors can raise cash with their share options at 10p.

[someuwin] 24/1/2024 09:06

Interest starting to pick up here. Not surprising.

[the count of monte_cristo] 24/1/2024 07:34

Jan 23, 2024 #copper #silver #gold
Technical overview of today's #copper #silver #gold Garfield RNS presented by our CEO @oliverjfriesen At $GMET $GMTLF we know how technical this business can be - so we are trying to help our investors and interested parties get under the hood of some of our more complex RNS'

[the count of monte_cristo] 24/1/2024 05:40

@someuwin - could you add this to the header?

12-year open pit life for Desert Scheelite pilot mountain scoping study - 2018

[smart48] 23/1/2024 14:45

Have had a small investment for a few weeks, bought on first news of Garfield.
Recent RNS looks good.SP back to where I bought in.
A project with a combination of Gold, Silver and Copper should hopefully be economic.

Realise it’s very early days, but holds great promise.
Uranium, very sought after, good news on this project would certainly fuel the share price.

Big bonus for me is the jurisdiction and infrastructure, plus the US stated support for critical minerals.

I will monitor and await further news.

GLAH.

[burtond1] 23/1/2024 11:06

Seen today's RNS? Debate in the #GMET Telegram group Link below...https://t.me/GoldenMetalResources

[the count of monte_cristo] 23/1/2024 11:05

Early days yet, we are in at the bottom and increasingly looking like a potential discovery, although only the drill bit will confirm this. Much to like;

- 100% owned
- increasing in size and scale
- A potential large scale copper porphyry capped by a high grade gold/silver layer
- Additional mineral potential, with uranium now noted
- License is in Nevada which is rated as THE best place in the world for mining
- License is next to a road, mining town and first class infrastructure
- A power line runs across the mine

[the count of monte_cristo] 23/1/2024 10:51

Yes, it looks like they are next door. See the presentation for more details, some good info in there.

Thanks, I'll check that video out later.

[gardenboy] 23/1/2024 10:37

Oliver has put out a nice video on X of latest observations from the drilling

[gardenboy] 23/1/2024 10:28

Are Kraken Energy next door ?

[the count of monte_cristo] 23/1/2024 10:17

Nevada State geological maps highlight two at surface intrusive units mapped as quartz monzonites to granodiorite, which are typical rock assemblages associated with porphyry deposits including the nearby Pumpkin Hollow Copper Mine owned by Nevada Copper (385.7Mst at 0.47% copper ("Cu"), 0.05g/t Au, 1.6g/t silver ("Ag"))2.

[the count of monte_cristo] 23/1/2024 09:08

Yep, so tightly held right now. I'd imagine they will be looking to sell when this is many multiples higher

[rolo7] 23/1/2024 09:06

Pow can sell after a year if they need cash for their own operations, i hold a few shares. No news on PM yet

[the count of monte_cristo] 23/1/2024 08:46

Worth noting that 60% of the company is held by POW and a further 11% by management, leaving little available shares. When the buying really starts it will be difficult to buy, IMHO.

Garfield is looking very exciting.