Well I ended up sitting down to write notes from today and it pretty much ended up a post anyway..
So here’s what I took away from the day:
Jean Elson - Planning for drilling end of June at Jean Elson is ticking along nicely with stakeholders/landholder negotiations going well.. Jean Elson is the “low hanging fruit” target with Emmanuel currently working through the data to pinpoint the best locations for exploration..
The ground is a little easier to explore than frewenas with relatively shallow targets and cheaper RC drilling.. This is where the government grants will help with funds, but are still in progress, the nature of how the grants process works means that drilling isn’t able to start until the process is finished..
Mac creek - Planning for drilling later this year depending on weather and budget.. The plan is to explore Jean Elson first and hopefully the pinpointed targets yield results sufficient enough to increase the share price, and therefore the vwap, to raise capital wiminimal increase in the register (dilution)..
Capital - We all know we need it moving forward, and it’s fantastic that Adam provided a loan and bought shares on market recently.. It demonstrates to shareholders both confidence in the company and a level of support and commitment you don’t see very often from a chairman in a microcap..
However, we will need to raise at some stage before the year is out, how that works is yet to be determined but one of the discussion points is another renounceable rights issue to existing holders.. I personally like this idea, preferable to just going out to sophs and 708s, but again this is one of several ideas the board are discussing and the market will be informed in due course..
Peru - I had conversations with Adam on my thoughts about Peru and what I found interesting is some of my thoughts are echoed by other shareholders so there seems to be a bit of a collective unconscious thought process going on around what to do with the project..
It is a complex issue, it’s not been forgotten and there are non disclosed discussions happening at the moment in regards to its future..
Too sum it up, I’m not alone in the shareholder wilderness when it comes to thoughts around divesting the assets and focussing all our resources on the NT..
Property sale - Not much else here except that the process is continuing, however Jonathan was out at the isa cleaning up the place in readiness over the last weekend..
Shareholder Engagement - I had a chat with Adam about how valuable Jonathan’s posts were on hotcopper for shareholders, a sentiment that has been echoed here quite a few times..
It was a dovetail from the conversation on rebuilding shareholder trust, I suggested that it would be a quick win for the company to help rebuild that trust if a spokesperson for the company could post again, take away the “radio silence” between announcements..
Adam is keen to explore ways of regularly keeping shareholders informed through social media but its challenging for the company from a risk perspective with listing rules/corporations act etc but I suggested maybe something along the lines of a bimonthly webinar (
@floki yeah not like spx haha) or something..
Either way it’s something he is pretty keen to look into..
Summing it up, I’m excited about what’s unfolding at Jean Elson, the future looks pretty bright but I’m not going to sugar coat the past as the last year or so has been pretty woeful and the board knows it too..
It was well worth the trip..
At the end of the day punters do what they need to do but there’s still great potential here..
That’s about it I think.. If I remember anything else I’ll post it up..
(20min delay)