# ALM - Alma Metals



## YOUNG_TRADER (9 April 2007)

Should start the thread on AER, EVE's uranium spin off vehicle,

IPO was at 25c, should list at 50c minimum.

More info to come.


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## Wysiwyg (10 April 2007)

YOUNG_TRADER said:


> Should start the thread on AER, EVE's uranium spin off vehicle,
> 
> IPO was at 25c, should list at 50c minimum.
> 
> More info to come.




Hi there Y.T....It is 40c unless there has been a change. 

This Supplementary Prospectus is dated 26 March 2007 and is supplementary to the
Prospectus dated 1 March 2007 issued by African Energy Resources (Guernsey) Limited
(ARBN 123 316 781) (Company) for an offer of up to 12,500,000 fully paid ordinary shares
at an issue price of *40 cents *each to raise up to $5,000,000 (Prospectus).
This Supplementary Prospectus was lodged with the Australian Securities & Investments


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## sleeper88 (10 April 2007)

yep..its 40c, just checked Comsec this morning, got my allocated 5000 shares. By the way the code on Comsec is AFR.


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## YOUNG_TRADER (10 April 2007)

*Re: AER - African Energy*

Whoops as you can tell I wasn't 100% sober last night when I posted, sighhhhh fare thee well easter break  

Back to AER, it should list quite strong, if SNU can have a mkt cap of around $50m I see no reason why AER's shouldn't be 2-3x that given it has an interest in JORC Compliant deposits in Africa


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## j4mesa (10 April 2007)

In relation to EVE,
Would the price of it follow closely the price of AFR as it own 77% of AFR?
What does everyone thinks ? I think it will....


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## Ruprect (18 April 2007)

Listing today (wednesday), 2pm EST.

40c share issue, but apparently 3.5 times oversubscribed. 

If it follows what CUX last week, should open at a significant premium. 

Code is AFR.


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## Halba (18 April 2007)

This is very expensive. Already mkt cap $50m @ float price. So if it doubles you have to pay through the nose $100m++ mkt cap for a small 4million pound(uneconomic) JORC. Too long till drilling. What a rort.


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## bigt (18 April 2007)

I agree Halba - but the market is a funny beast - there is money to be made and the experienced will make it, the inexperienced will lose it. Fundamentals dont come into the opening days frenzy of a promising U stock eh?


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## Halba (18 April 2007)

bigt said:


> I agree Halba - but the market is a funny beast - there is money to be made and the experienced will make it, the inexperienced will lose it. Fundamentals dont come into the opening days frenzy of a promising U stock eh?




Well the more it goes up on listing the less % there is for new investors. simple math. i will stick to my erongo $50m mkt cap prolly 1/2 of AFR on listing and better prospectivity (namibia has uranium mines after all). Why pay more for AFR? Maybe diversification, but only if its under the 100 mil mkt cap barrier. Its inevitable to compare AFR to similar african listed explorers and my ERN is one of them. OMC is another and it got $220m taken over (it has a sizeable 13-15million pound resource). AFR at listing if its $100m, will already be 1/2 of OMC's valuation without a substantial resource.


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## nizar (18 April 2007)

Halba.
Expensive I agree market cap actually $63mil at the offer price 40c.

But what i like is the capital structure, top20 hold over 92%.
If it runs it will be like MRU. Sell side thin, forcing buyers to chase.

I hold only the minimum priority allocation.

Should be interesting.

What I'm looking for is an impressive open (80c+) and a white candle close. If it gets those 2 then I'll be happy to sit on them for a bit.


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## Halba (18 April 2007)

80c then mkt cap $125mil! Hmmm it would probably be out of my reach. Other people will buy thinking it is cheap at 80cents per share "only 80 cents"


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## Ruprect (18 April 2007)

Opened right on $1. Wow.


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## Sean K (18 April 2007)

Halba said:


> 80c then mkt cap $125mil! Hmmm it would probably be out of my reach. Other people will buy thinking it is cheap at 80cents per share "only 80 cents"



You're missing out on opportunities by not playing all the market dynamics IMO. Perhaps the 'value' investor wins in the end, but if you play the market right there's opportunities everywhere. 

This might come off a little, but what a scoop for those people realising the U IPOs are generally a good punt.


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## chris1983 (18 April 2007)

Halba said:


> 80c then mkt cap $125mil! Hmmm it would probably be out of my reach. Other people will buy thinking it is cheap at 80cents per share "only 80 cents"




so whats the cap now?  Lots of newbies will get burnt..talk about all the guys in the uranium cycle making money..there are lots losing money too.  Look at NUP and how it ran..now where is it at.


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## chris1983 (18 April 2007)

The market cap says 30 mil undiluted?  Where does 120 mil come from.  I'm missing something?


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## nizar (18 April 2007)

Lots of newbies will get burnt??

Look at risk/rewards with these floats Chris, they are pretty good.

Maybe its not your style, doesnt mean you cant make money from it.

There are 147million shares on issue for AFR. But top 20 hold >92% and about 70% of the total is in escrow with EVE for 24 months.

So once there is a demand theres no supply to feed it - sellers can demand their own price and buyers have to chase.

I didnt expect a $1 open but im not gonna complain.

And Halba, Chris, stop questioning what the market does and trying to find a reason behind everything. Like iv said many times, there doesnt have to be a reason and if there is - it doesnt have to make sense. The market can do what it wants, but the market is always right, even when its wrong. The market can remain irrational longer than you can stay solvent.


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## chris1983 (18 April 2007)

But its true lots of newbies will get burnt and are getting burnt.  Maybe wont be the case with this one though..I havnt read into it enough.


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## chris1983 (18 April 2007)

ahh okay..I get it

_There are 147million shares on issue for AFR. But top 20 hold >92% and about 70% of the total is in escrow with EVE for 24 months._

Make money while you can.  Not for me though.  Glad to hear you have made 100% in a day though.


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## Sean K (18 April 2007)

chris1983 said:


> But its true lots of newbies will get burnt and are getting burnt.



Yes, they could, but it's forums like this that allows those with more experience to pass on their knowledge and perhaps present  others with opportunites, and not sacrifice them in a HotCopperish pump and dump whitewash. That's one reason why Joe is so stringent on ramping here. This is a forum to share information, not for public burnings. 

So, hopefully new investors didn't jump on this on the open, which would have been very risky IMO, but got some in the float and have now made 142% ish.   Not me unfortunately


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## nizar (18 April 2007)

Kennas.
I would've bought this on the open, if it opened at, say, 80c. But $1 was a bit much.
Reason I would be buying and not selling is because I've seen floats like MRU, TOE, NUP, do well on the 1st day, and sold, only to see them reach higher in the 2nd day.


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## chris1983 (18 April 2007)

I'm extremely happy to see stocks like this go through the roof.  They have a 4 million pound resource and the fully diluted market cap is  147 million.  If AFR can run off a JORC of 4 million pounds..stocks like ERN and BMN are still extremely undervalued.  They just need to get their historical deposits JORC compliant.  welldone guys and I hope it keeps going.


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## Sean K (18 April 2007)

nizar said:


> Kennas.
> I would've bought this on the open, if it opened at, say, 80c. But $1 was a bit much.
> Reason I would be buying and not selling is because I've seen floats like MRU, TOE, NUP, do well on the 1st day, and sold, only to see them reach higher in the 2nd day.



This can happen. But I'm sure there's examples from both sides. UTO opened at 80 and bombed to 30. Just risky for a newbie I reckon. If you're not ruthless and get attached to your stock (as new traders sometimes do) then it can end in pain. Will be interesting to see what this does tomorrow. Let me flip a coin.........heads. Up!  LOL.


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## nizar (18 April 2007)

Im out at the close.
I wanted a white candle.
Didnt get it.

It opened too high.
If it had opened at 80 and close at 100, good chance it will run 2mrw.

But i agree Kennas, 2mrw is a coin flip.


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## Halba (18 April 2007)

Didn't buy in. Its assets r fine like an Omegacorp clone, but in this market no value at the moment. After all you can buy OMC for about just 80% above the price/mkt cap AFR is selling for, and OMC has real assets. They have a lot of ground work to do.


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## imajica (18 April 2007)

seems a bit over priced when you compare to WME - market cap 45 million and 30% of their tenements contain 18 million pounds with advanced drilling underway

the market sure is strange sometimes - many people will be burnt severely


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## nizar (18 April 2007)

imajica said:


> the market sure is strange sometimes - many people will be burnt severely




Notice how all the people saying about newbies getting burnt are those that missed out? 

Dont be so bitter guys - just move onto the next one.

And yeh imajica, the market is strange, I remember your fave INL you used to ramble on its a producer now and so on, well yeh the sp HALVED so I hope you didnt get burnt being such a true believer.


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## chris1983 (18 April 2007)

nizar said:


> Notice how all the people saying about newbies getting burnt are those that missed out?
> 
> Dont be so bitter guys - just move onto the next one.
> 
> And yeh imajica, the market is strange, I remember your fave INL you used to ramble on its a producer now and so on, well yeh the sp HALVED so I hope you didnt get burnt being such a true believer.




lol..trust me man..I'm seriously not sore at all.  I was genuinely worried that investors buying at these levels would get burnt.  Just wanted to put a warning out.  If they continue up..thats great.  Like I said its more advantageous to me for them to continue up anyway.


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## Ken (18 April 2007)

Did anyone get some of this in the float?

Or was it a private/ipo!!!


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## Halba (18 April 2007)

Doubt anyone would get 'burned' but with all due respect all the upside has been taken from this stock by the premium today....WMT mkt cap $250m, ACB mkt cap $225m, possibly AFR can get to those levels with some drilling.


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## nizar (18 April 2007)

Ken said:


> Did anyone get some of this in the float?
> 
> Or was it a private/ipo!!!




Yes. I got some.
Out today.


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## Ang (18 April 2007)

nizar said:


> Im out at the close.
> I wanted a white candle.
> Didnt get it.
> 
> ...




If tommorow the price stays the same at $1 or runs a little, I would think EVE would be the one that starts running. Correct me if i am wrong but the maths is as follows. AFR = $1.00 and EvE holds 70% of AFR, then EVE should be valued at 70cent not including the other resourses they have. I wouldn't be suprised that EVE start looking good in the next few days or even tommorow. I have EVE shares and trading the Darvas box and looking at a target of 55 cents as attached.
kind reg
Ang


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## nizar (18 April 2007)

Ang said:


> Correct me if i am wrong but the maths is as follows. AFR = $1.00 and EvE holds 70% of AFR, then EVE should be valued at 70cent not including the other resourses they have.




Incorrect. Your logic is flawed.

EVE has 224million shares.
Market cap at 40c is about $90million

AFR has 147million shares.
Market cap at $1 is $147million.

EVE holds 70% of an asset worth $147million, which is 0.70*147 = $102.9million.

$102.9million/224million shares = 0.459.

Therefore, the value of EVE based on its AFR holding alone is about 46cents.

Hope that helps.


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## Sean K (18 April 2007)

nizar said:


> Therefore, the value of EVE based on its AFR holding alone is about 46cents.



So, then you need to add in the value that EVE has less it's holdings in AFR. What's that Ang?


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## Ang (18 April 2007)

nizar said:


> Incorrect. Your logic is flawed.
> 
> EVE has 224million shares.
> Market cap at 40c is about $90million
> ...




Thanks for that at least I have my target correct, if the balance of their resourse is 10 cent the anything above 50 cents is a fair value. Do you have the value of the rest of EVE's resourse.
Kind reg
ang


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## chris1983 (18 April 2007)

nizar said:


> Yes. I got some.
> Out today.




These guys have a good name "African Energy".  What a great name during the uranium bull..come on..look at some of the names of late "yellowrock resources" haha its so classic.  Welldone to the guys who made a 100+% profit on these.  I myself would buy EVE..but AFR look like they will be held tightly for awhile so shares might be hard to come by.  Nizar summed it up very well earlier.



nizar said:


> There are 147million shares on issue for AFR. But top 20 hold >92% and about 70% of the total is in escrow with EVE for 24 months.
> 
> So once there is a demand theres no supply to feed it - sellers can demand their own price and buyers have to chase.




Will be watching with interest tomorrow..just for entertainment purposes..but yeah its a coin toss as Kennas mentioned earlier.


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## Huitzii (30 October 2010)

Has anyone still got this one on their watchlists or still holding?
AFR recently broke out through a 12 month low period but seems to be back on track and pushing new highs.
On Friday it saw a test opening at .285 (.05 above previous days close) pushed up to .29 ,then pushed down to .275 to finish at .28 again (a game between the bulls and the bears)
This one could see new highs if the volume stays up IMHO.
MACD is looking strong and the 10,68 and 90 day averages are looking sweet as well.
I found this stock doing routine scans recently.
I hold AFR for the time being ,ATM 22% up for me 
Here is a chart.


DYOR


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## boff (13 December 2010)

Huitzii said:


> Has anyone still got this one on their watchlists or still holding?




I'm looking closely at these guys. The recent price hikes are due to them stumbling on 1 to 1.5 billion tonnes of thermal coal lying just under the surface. Kind of ironic really, considering they listed as a uranium play.

AFR is currently valued around $110m, but sitting on that much coal I believe there is story there worth looking into.


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## jonojpsg (14 December 2010)

Definitely worth getting on IMO -  I bought in yesterday at 40 and from the looks of the buy/sell depths this is going to run HARD - approx 20m buy and only 0.5m sell 

Ann today saying block C results are better than expected, and block C is the largest (about 50+ sq km!!)


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## boff (15 December 2010)

jonojpsg said:


> Definitely worth getting on IMO -  I bought in yesterday at 40



You are one lucky chap. I put put my first buy order in at 10:02 at 41.5c and then stupidly chased up the SP all day.  Never got filled and have the order sitting at 50.0 for todays open.


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## iRy (15 December 2010)

You would have gained today! Another early gain. Will be interesting to see how this one plays out in the next few months.


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## boff (15 December 2010)

boff said:


> and have the order sitting at 50.0 for today's open.



 Eventually gave up trying to get a good price. Jumped in at 59c and of course the SP drops immediately.  Anyway, the story is still good and this one should have some way to go. Why do I think that?
A commonly used figure for the value of coal in ground is 50c. These guys have over a billion tonnes and a market cap of $150m.


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## mr. jeff (15 December 2010)

Sorry I cant seem to copy the drilling map, but I'll summarize for everyone who won't / can't / want to look;

1st December 2010 Ann.

Basically the coal find is located in Botswana, Sese it's called.

AFR's tenement here is broken into Block A,B,C; all adjoining in a NW-SE orientation.

from ann: "Diagram 2: Resource delineation drilling programme showing progress to date. Drilling is now
complete in Block-A, and partially compete in the eastern half of Block-C. Drilling is continuing
in Block-C, and Block-B will be drilled in 2011."

 - They have drilled block A quite conclusively with good results and confirmed extent of resource within their tenement

 - They have not touched block B, but have some drilling history there which    seems to have been promising

 - They have extended from historic drilling in Block C successfully
   but have not finished determining its extents.

Basically there is further newsflow into early Jan, then wet weather break, then resource estimate release end of 1Q11.

Could be a run for a little while. Might well be a good opportunity considering Botswana's standing as a country for mining...

Hope this helps.


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## jonojpsg (16 December 2010)

boff said:


> Eventually gave up trying to get a good price. Jumped in at 59c and of course the SP drops immediately.  Anyway, the story is still good and this one should have some way to go. Why do I think that?
> A commonly used figure for the value of coal in ground is 50c. These guys have over a billion tonnes and a market cap of $150m.




Yep, even if you assume 25c a tonne, this one looks like it could run some more and still be conservatively valued...block C looks like being around 1bn+ tonnes by itself which would value AFR at $250m or 80c a share.

In the interview released today the MD suggested the top end of the exploration target could be exceeded too, 1.5bn+ tonnes!


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## mr. jeff (21 December 2010)

Today AFR is up 15% on no news but a reasonably large volume of around 10M. Looks like the interest generated last week is not dying down so quickly; closing at 67.5c. 

I am holding and watching closely, tried to get a bigger position on the move this morning and it just ran away.
Will be interesting to see if this precedes a news item or whether this is further driven by coal's ongoing discussion in the media; or of course hope.


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## jonojpsg (21 December 2010)

mr. jeff said:


> Today AFR is up 15% on no news but a reasonably large volume of around 10M. Looks like the interest generated last week is not dying down so quickly; closing at 67.5c.
> 
> I am holding and watching closely, tried to get a bigger position on the move this morning and it just ran away.
> Will be interesting to see if this precedes a news item or whether this is further driven by coal's ongoing discussion in the media; or of course hope.




Hey mr jeff, i don't think any more news is required for this one to continue on its merry way for now, with the likely resource ann next year heading for the top end of the exploration range, IMO the SP could easily run to $1 (another 50% hehe) without overstretching the valuation.  Looking forward to that


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## Huitzii (7 January 2011)

I saw somewhere (I dont know where but I took a mental note) that the next announcement is due on the 10th or the 11th of January ,maybe Monday morning...I hope.
Today I doubled my holding @.675 so Im hoping for a nice boost from the upcoming announcement, hopefully above the .80 mark would be nice 
Clearly I hold AFR
DYOR


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## radioham6 (16 February 2011)

What a huge day for AFR Tuesday. Up 22% and a speeding ticket. 

The volume is 11M + and why? 

Any news I've missed out on seeing?

Comments Please.


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## boff (16 February 2011)

Well, as per their response to the ticket, they are due to announce Block B drilling results.
I figure that they are also going to announce leases on the land surrounding their current finds in the near future. That could more than double the amount of coal they have in the ground. Why do I think that? The moment they found all that coal, they would have hot footed it to the government office and laid claim to the surrounding leases. That would have been around 6 months ago. Time for an announcement.


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## AKB (16 February 2011)

Agreed.

I got in today at $0.975. Late to the party perhaps, but pending a good announcement on Block B, we could be in for a nice run to the mid $1.50 range. Money was tied up in FAR preventing me getting on board earlier


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## tlines (21 February 2011)

*African Energy*

Is anyone watching AFR . was interested to get any feedback as I am wondering how long to hold onto these shares . The price seems to just keep going up so I will keep watching . Thanks


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## joea (21 February 2011)

*Re: African Energy*



tlines said:


> Is anyone watching AFR . was interested to get any feedback as I am wondering how long to hold onto these shares . The price seems to just keep going up so I will keep watching . Thanks




If you go to stock chat, you will find there is a thread on this stock.
Hello? Check forum jump!
Cheers


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## tlines (21 February 2011)

*Re: African Energy*



joea said:


> If you go to stock chat, you will find there is a thread on this stock.
> Hello? Check forum jump!
> Cheers




Thanks . I have seen these threads and was just looking for anyone with a close interest and ideas on how far these shares may go . Thanks


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## boff (13 July 2011)

Well that's been a disappointing run over the last 4 or 5 months. I do however believe that today's trading halt for an announcement regarding a capital raising may signal the light at the end of the tunnel.
Why? Here's a very brief time-line.
AFR target leases surrounding their existing coal finds.
The government puts a moratorium on mineral leases until September.
AFR appoints Mr. Marole as chairman of their 100% owned Botswana subsidiary (he previously held the position of Permanent Secretary at the ministry of minerals, energy and water resources).
And now the capital raising. I am confident that this means that AFR is very confident that it will be granted the new leases and that it needs the money to explore those and to develop its existing finds. I don't think that Mr. Marole would have taken thie job if this was not the case.

My 2c...


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## mr. jeff (8 November 2011)

boff said:


> Well that's been a disappointing run over the last 4 or 5 months. I do however believe that today's trading halt for an announcement regarding a capital raising may signal the light at the end of the tunnel.
> Why? Here's a very brief time-line.
> AFR target leases surrounding their existing coal finds.
> The government puts a moratorium on mineral leases until September.
> ...







Can it go much lower with a massive coal resource like it has ? 
Maybe ask the shareholders of CCC ?


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## boff (8 November 2011)

Sorry for not posting. I sold out of AFR on 26/9 for 0.375. My average buy was 0.49.
I still feel that the current debt crisis has a way to play out and September saw me sell about half the portfolio, partly in the expectation of being able to buy back in again at a better price and partly just a 'risk off' kind of move.
So right now I'm hoping the SHTF in Europe over xmas and I can pick these back up in the 20s in Jan.


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## mr. jeff (8 November 2011)

boff said:


> Sorry for not posting. I sold out of AFR on 26/9 for 0.375. My average buy was 0.49.
> I still feel that the current debt crisis has a way to play out and September saw me sell about half the portfolio, partly in the expectation of being able to buy back in again at a better price and partly just a 'risk off' kind of move.
> So right now I'm hoping the SHTF in Europe over xmas and I can pick these back up in the 20s in Jan.




Boff sorry that was tongue in cheek at the 1000+ "I can't believe the market doesn't rerate CCC" threads on other forums.

W.R.T AFR, it seems that the excitement is gone and the show is over, volume has evaporated and I am guessing that there are a lot of D&D subscribers who rode it down if the initial tip is where it gapped up December last year.
I have not investigated to understand what may be the current issues, as I am currently distracted by other stocks, but I am watching for a bottom to form as I participated in the ride up and made a good trade out of it, it seemed to have significant potential which probably has not completely evaporated unlike current buyers, which leads me to the idea that upon turnaround, it might be all on again very quickly. 

Anyone that follows AFR and feels like pressing buttons, do so and fill me/others in, would be good to see some more posting.


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## radioham6 (11 January 2012)

Yes been a while since a post on this tread. I see a gain of around 16% today.  
A New year and all markets seem to look brighter.

I can't see any news relating to this gain.

Or is it just a more positive outlook with the new year?

Comments.


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## radioham6 (6 November 2013)

6 November 2013

AFRICAN ENERGY PARTNERS WITH ACWA POWER TO DEVELOP 300MW POWER STATION 

African Energy Resources Limited has released a webcast of an interview with Managing Director, Dr Frazer   Tabeart, commenting on the recent signing of a joint development agreement with Saudi Arabian based ACWA Power and submission of an expression of interest with the Government of Botswana to build,own and operate a 300MW coal fired power generation plan.


www.brrmedia.com/event/118244


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## Cam019 (8 May 2017)

Quite thinly traded but Thursday shows lots of strength with that extreme volume wide range up bar closing on a new high for the last 18 months. Friday is even more interesting with a high volume narrow spread down bar. More strength showing. Demand has to be buying up supply here otherwise we would have seen a wider range down bar. Could possibly see a gap up to open this morning. Let's wait and see.


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## Garpal Gumnut (1 October 2018)

I'm bullish on AFR as they have been spending quite some dollars in the energy supply sector in Botswana, a stable southern African country surrounded by vagabonds and nutters. The latter may be dull enough to buy off AFR's grid in a new partnership. At present 0.023, cheap as chips. They have re-entered a promising trading range and I feel they may have bottomed.


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## greggles (24 August 2021)

African Energy Resources searching for copper in the East Kimberley after applying for nine exploration licenses. 

This announcement comes only days after AFR announced that it had inked an exclusive option with Cantebury Resources Limited (CBY) to earn up to a 70% interest in the Briggs, Mannersley and Fig Tree Hill Porphyry Copper Project in south-east Queensland.

AFR appear to be re-inventing themselves as a domestic copper explorer. Given the price of copper recently, it's not a bad strategic move and the share price has been been steadily moving north this month.


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## System (8 December 2021)

On December 8th, 2021, African Energy Resources Limited (AFR) changed its name and ASX code to Alma Metals Limited (ALM).


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## The Triangle (19 November 2022)

My favorite market guilty pleasure is investing (gambling) on a junior explorer who has started exploration drilling somewhere.  You know within a few weeks/months you'll get news of drill results and they'll be pumped up to be fantastic no matter what the result.  0.01% nickel will be called massive sulphides.  1g/t gold will be called bonanza grades and so on... It pisses me off when I don't hold the shares, but when I do I love it. 

Alma is currently drilling a very large very low-grade copper deposit in QLD.  




The executive chairman was/is also involved with CVV which shot up very quickly on drilling out a very big very low-grade WA copper deposit, so I suspect he's trying the same thing here.  Copper is not popular at the moment, but if this drilling campaign manages to prove up anything resembling a high-grade 'starter' pit (which is what the likes of HCH have been trying to do for years) then this could be a very interesting junior.   0.3% copper is simply not enough to make things happen, even at a billion tonnes.  But if you can get a 0.7% section to last 3-4 years, pay off the capex then all of a sudden you have 10-20 years of low grade dirt to pump out a tidy predictable profit.  

They've recently done a capital raise at 1 cent and I suspect should still have a million in the bank by EOQ2, certainly not a great position, but with limited debt (100k in liabilities) and only a $10m market cap a fair bit of risk is already priced in.  The question is if they manage to get some good drill results is ALM or CBY the better investment as the "Briggs porphyry" is owned by CBY who are farming it out to ALM.  Below is from the CBY quarterly (have no cash and a MC of $5m).


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