Thanks. I have also update my figures and potential target SP ready for the results, with such an intense campaign by Freeport including a number of the all important deep drills I am sure that a JORC of 100Mt could be achieved, it’s then the cut off grades we will have our NAV based on. Will post over the weekend.
Thank you for the time you have expended on your last 7 posts. For those that have not researched KLG in depth, then they are of invaluable information. For those of us that have, then they act as a reminder of why we have invested here in the first place …………………….. Well Done MB11
Freeport took the old Geophysical data that we had, and which we had been able to get thanks to funds raised when we went public in Canada in 2006. Nowadays you can look at all that material using a whole new range of technological means, and you can create 3D images of whatever is way below the surface. What Freeport discovered was very exciting in terms of having the size potential they're interested in (they won't consider anything if it's not gigantic).
As for the mining operation itself – assuming we get to that point – it will make use of new techniques Freeport has invented, which are based on going deeper and deeper. As you go deeper, the hole gets narrower and the grade gets higher: a 2 kilometre shaft goes down, then sideways and then upwards.
As a successful mining company we would be in a position to create enormous conservation areas within our concession, because we'd already be out in the jungle, with the infrastructure and the money to have a really positive impact. In addition to all the technical side, Freeport really sees, understands and appreciates the value of what KGC and YTS have done. From their own history, Freeport now understands the importance of taking care of the community aspect from the early days, and the value it would have for its damaged reputation.
They realize our worth and are interested in letting us continue to work in the way we've been working till now. So, this reflects what Bapak told us so long ago, that we can be the initiators and the pioneers who will be able to influence the way things develop.
In the eyes of a company like Freeport, we have achieved an enormous amount, and this will influence how things develop in the future. It's going to be a massive challenge, but we are managing the unfolding of an enormous potential for the benefit of Kalimantan.
In the meantime, YTS, as a foundation set up by a mineral exploration company, is recognized as something quite unique in the world. In fact, there was a write up about us that was presented at the World Economic Forum in Davos, where both KGC and YTS were given as a leading example of best practice undertaken by an exploration company; in other words, the fact that we started our community efforts all those years ago and at a very early stage in our operations, is now very much acknowledged and appreciated.
Freeport-McMoRan have carried out extensive due diligence over the 35,000 meters of results gathered before they took the option and have identified with the aid of 3D modelling h the potential for major copper deposits at below the level of drilling to date which yielded previous drilling results around the 0.50-0.60% copper.
For the KSK we are not betting on KLG but in fact we are placing our bets on Freeport-McMoRan Exploration Corporation one of the biggest resource companies in the world.
From KLG: With just two copper mines - Freeport's Grasberg and Newmont's Batu Hijau - Indonesia is the third largest copper producer in the world. The geological formations that yielded these deposits are widespread throughout the country and in Kalimantan especially. Industry 'lore' is that Indonesia will yield many more such deposits. They haven't yet been found simply because Indonesia remains massively under-explored. http://www.kalimantan.com/s/Copper.asp
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.