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Well said Nthoftheriver
Plenty day traders around, there is many news to come here and Black Rock trading hold is a another major news to us as well. There must be a big deal coming to region as they are only a few mile from us.
Its cooking and coming all together....
If you sellout based on an RNS that says anticipates rather than definitely then you’re probably trading it. Good luck with that.
If you announce results at a certain date and don't deliver people will sell.
Could this be related to the delay in our optimised DFS? They could be working together regarding infrastructure etc.
Agree completely!
Morning Muck, I spotted the suspension has been extended until 8th June, or until the point of any agreement on the strategic development.
It is definitely very interesting to be able to use Black Rock as an excellent gauge in relation to the path ACP may take.
It does strike me that the two projects (Mahenge and Mahenge Liandu) are extremely close to each other, you would thought it would be pragmatic to possibly share some of the infrastructure costs with each other. For example, improving roads from each mine to the port.
Therefore it would seem sensible for the Black Rock strategic alliance partner to collaborate with ACP.
Nonetheless, it’s definitely an interesting time for ACP holders, and at the very least, the Black Rock development clearly shows there is an appetite to progress graphite mining in Tanzania.
Looking forward to further updates.
I’ve been having a dig re strategic alliances between miners and thought people might be interested in;
https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/strategic-development-partnerships-are-reshaping-the-resource-landscape/
https://investingnews.com/innspired/strategic-alliances-major-miners-exploration-companies/
From an ACP perspective it will be interesting to see what deal BKT have lined up when they eventually make an announcement, and what happens to their SP.
https://www.asx.com.au/asxpdf/20200601/pdf/44j8g104g7666g.pdf
Top find, any additional interest in the area will be good news for us. Any ideas why it’s taken black rock so long to get funding after releasing the initial DFS in October 2018?
Credit where it’s due - this wan an MAJWandCo spot, and a good one at that!
Good spot Muck. I take this as a positive for ACP as the development , when it is revealed on 1st June at the earliest, will no doubt be positive for BlackRock and thus can only assist our upwards trajectory. Imvho gla
Correction - “pending the release of an announcement regarding a strategic alliance and development agreement”
Interesting - looks like BKT requested a pause then halted trading on 22 May pending an announcement expected 26 May, then requested a suspension of trading on 26th May “pending the release of a strategic alliance and development agreement”. See
https://www.asx.com.au/asxpdf/20200522/pdf/44j1362682t6m7.pdf
https://www.asx.com.au/asxpdf/20200522/pdf/44j146yp8l7z33.pdf
https://www.asx.com.au/asxpdf/20200526/pdf/44j3k3j5pqhgdn.pdf
The BB’s over there seem alive with conjecture as to what this alliance might be, most thinking it will be with Chinese off take partners. Whatever it is it can only be positive for them I would imagine.
I wonder if instead an alliance might be with , or involve, other neighbouring miners like ACP?
Probably not, but I’ll be watching the ASX news flow closely.
Did anyone notice that Black Rock Mining halted trading on Thursday whilst strategic negotiations continue.
Also that they have released an update yesterday regarding the positive steps forward with the Tanzanian government.
This must be a positive for Armadale in that it shows the Tanzanian government are keen to progress such operations.
Having looked at Block Rock’s DFS for Mahenge it looks like it is inferior in many ways to that of Armadale’s. (IRR of 48% as an example)
https://hotcopper.com.au/asx/bkt/
Thoughts on the above?