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Https://www.proactiveinvestors.co.uk/companies/news/1019493/proactive-oil-and-gas-weekly-highlights-pantheon-resources-british-gas-sound-energy-1019493.html
33 mins in.....pilot mountain tungsten deposit
GMET will be getting up to 100% funding for proven fiscal requirements alongside fast track permissions for PM
which is USA based Tungsten on the USCML
The funding will be on the most favourable terms possible to GMET.
"Significant amounts of non-dilutive grant funding have recently been made available by various US government departments including the Department of Defense (DOD), Department of Commerce (DOC), Department of Energy (DOE) and Department of Minerals (DOM) among others. With Mrs. Turkmani now engaged as a Strategic United States Government Adviser to the Company, we look forward to rapidly advancing this strategy and communicating to the market the steps being taken in this regard."
So the White Paper grant application is well under way .
BRES is in Uganda obviously US does not have control hence limitations.
Contact OF.
AIM listed Bres (graphite) are seemingly close to securing a grant from the US Govt, through its Development Fund. But they have made clear that the funding is for 50% of the costs (in their case to pay for a DFS) and Bres itself will have to find the remaining 50%.
Is Oliver exploring a different funding option, or is the idea that GMET are aiming to get 50% from this same Fund, and 50% non dilutive from other options?
Every trade today is a buy folks. All just below the mid so showing as sells.
The company has hardly had time to get moving only being listed 6 weeks ago yet Oliver has already achieved a major off take agreement for the Pilot Mountain Tungsten( project wholly owned by GMET )with GTP even though its an LOI subjective to the usual caveats I have no doubt the LOI will turn into a contractual agreement as PM is the US.G only home supply when its Tungsten supply contracts with China cease at the end of 2025.
Oliver has often mentioned the US.G special fast track funding /development policy for financing projects for which PM is eligible so at some point we can expect more news?
so
One thing Oliver does keep saying though is ask him directly, he's currently asking for questions for a Q and A this week, e mail him.... oliver.friesen@goldenmetalresources.com
He did a video explaining the process but I'm struggling to find it, it'd be a great thing to re visit in the Q and A though, over to you Roger, fire away
One thing Oliver does keep saying though is ask him directly, he's currently asking for questions for a Q and A this week, e mail him.... oliver.friesen@goldenmetalresources.com
Hi Roger, I got a quick reply with this
Hey gents - can’t disclose too much at this stage unfortunately. What I can say is that things are active behind the scenes and we will be communicating timelines and next steps to market soon.
Apparently Tungsten is needed Fusion Energy & is a critical material, tungsten, for fusion energy. Fusion energy is potentially a near-limitless source of carbon-free energy for the future, and tungsten will be a key component in the process, required for radiation shielding and plasma-facing components within fusion energy devices. Fusion energy is actively being developed to reach commercialisation with over US$5 billion of private investment worldwide. However, without a viable commercial pathway for the supply of tungsten from raw materials to the fusion community, the commercialisation of fusion energy faces significant delays. DYOR people.
Tiggrrr: did you get av response from OF on timings of Grant applications? Would be keen to see what he had to say. Thanks. I don’t hold GMET shares (significant holding on POW though) at the moment but I’m tempted to jump as I think OF with Pilot Mt and the urgent need for Tungsten by the US govt might just see all of this fast tracked and be a better bet than the long list of POW projects that require huge amounts of funding.
I know POW on a large % of GMET but these days the IPO way of breaking off arms of companies, esp in the mining sector, isn’t working out well. Looks to me as if GMET would jump hugely on good news and that POW might only see a modest increase in value.
Looks promising. Took a small stake here.
Oliver's doing an excellent job of telling the story clearly. Really telling complex news in a way that's easy to digest for all.
Latest RNS shows excellent high grade Copper results
Thanks anyway 👍
Sorry for late reply, busy away from screens
Great, well worth a read, very motivating for the short to medium term
Cancel the last. Found it.
Have you got a link please Tiggrrr.
Oliver is already very engaged and chatty on the Telegram group and inviting questions. Last night I asked him
One thing I am very intrigued in is what the process of applying for the US grants looks like? Is it weeks, months, years? Also, does the fact that Pilot Mountain already has a recognised Jorc W reserve streamline that process for you?
And his answer (within minutes) was...
Thats a fantastic question Tiggrrr. It will take me a bit of time to write up my response as I have a lot of information on this topic so will make sure I get that typed up and sent here sometime tomorrow.
To which I replied
Thanks Mr Friesen, I'll bet there's a few here and on POW are keen to know a bit .
I'll post his reply on here when I see it
Get a life, your not invested, so what are you doing here?
16 September 2014
THOR MINING PLC
Acquisition of Pilot Mountain Tungsten Project - Nevada USA
The directors of Thor Mining PLC' ("Thor") (AIM, ASX: THR) are pleased to announce the execution of a formal Share Sale and Purchase Agreement for the acquisition of the Pilot Mountain tungsten project in the US state of Nevada.
As announced on 10 June 2014, Thor had signed a Term Sheet with Black Fire Minerals Limited ("Black Fire") (ASX: BFE) in relation to the potential acquisition of the Pilot Mountain Tungsten Project. The Term Sheet was subject to normal due diligence and the necessary shareholder and regulatory approvals.
Consideration for the acquisition remains unchanged from that which was previously announced, being $1,675,000 to be settled by the issue of 418,750,000 ordinary shares of 0.01p each ("Ordinary Shares") in Thor at an agreed issue price of A$0.004 per share. The Ordinary Shares are subject to a 12-month escrow period.
1 November 2021
Thor Mining PLC
Pilot Mountain Project Sale - Option Exercised for $1.8m
The directors of Thor Mining Plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) are pleased to advise that Power Metal Resources Plc ("Power Metal") (AIM: POW) has exercised the option to acquire 100% interest in Pilot Mountain Tungsten Project ("Pilot Mountain") in Nevada, USA for an agreed value of US$1.8 million.
£1.8 million = £1.44 million.
I totally agree. Thor acquired Piot Mountain in September 2014. They spent quite a lot of time (7 years) and money (on drilling and studies) before offloading it for about what they paid for it ($1.8M and it cost $1.675M). It was always just another one of their fairly 'worthless' assets - not every AIM company turns out to be another GGP.
In fact, Thor were very lucky to offload it at any price. It just happened that Paul Johnson was acquiring just about every commodity prospect on the planet at what looked like knock-down prices, though in reality most were barely worth what he paid for them.
Sensibly Pilot Mountain is still worth about £1.5M so exactly where the rest of the value - GMET has an IPO m/cap of £7.15M - comes from I am not too sure.
If it's so great, how come Thor did nothing with it?
Looks like a great future ahead considering its main asset is Pilot mountain which is on the US.gov critical mineral list so its development funding will be supplied virtually FOC by US.Gov. Worth a good check out as is CEO Oliver Freisan is on the ball to get things moving asp