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Elir, who is Rhys?
Yes but now all good news is seeing us remain where we are all sentiment is low that is hard to recover
Do you not think some of these mistakes are avoidable? Waves of movement create good oppertunity's for the crystal ball crew ......:-)
Elir, I agree in that North Wales is a keeper project and this is also GF’s intention. I just wish GF’s management of expectations and approach was different so that the SP is given a push up rather than a knock down.
The screw up with last years bulk samples is unforgivable - he is not making any attempts to rectify that.
In all honesty , more will be employed at the musem spin off. Imo same staff as sgz need
@Rhys
how many employees ?
I'd imagine that on the books PAYE employees are only a handful. It would be normal to engage contractors on an as an when needed basis, since the demands of labour and techniques would vary from stage to stage.
@Yanis
11 Feb 21 RNS 6949O
"The Exploration Licence has now been extended for a further four years, being the maximum extension possible under the terms of the original licence. As such, the Exploration Licence will now remain in full force and effect until 9 February 2025. In keeping with the original licence terms, GMOW is required to submit formal progress reports every two years. As and when GMOW is ready to proceed to commercial production, it will apply to convert the Exploration Licence into a formal, long-term Lease."
However I would imagine that production will in fact start within 24 months, i.e. before May 2023
The most pressing of questions from a project cashflow point of view is proper bulk sampling of payshoots below "John Hughes" near the intersection of the cross cut and the main level and bulk sampling of reported payshoots at Llechfraith.
Strategically the company had in the past plans of getting HH to fund other exploration projects, and possibly they had hoped that for Clogau too nevertheless I believe that exploration of Amsitoq and TBS to JORC and to either disposal or JV will probably require a placing.
I think a lot of new investors see things a little differently from me . I see the role of a junior miner to be primarily exploration as opposed to exploitation. So when people ask .... "oh where do we have the funds to build a terminal facility , processing plant etc", then what they should be asking is ... "would a mining major make an investment for production facilities given the proven grades". Alba's role is not gathering the required capital for exploitation. That is the job of the RIO of this world.
"Keeper" projects would be North Wales. Key to success is identification of richer zones for priority expolitation so the project becomes not only self sustaining, but, moving forward, funds aquisition and exploration of new projects (which are intended for explore -> prove -> sell model).
I can afford £50 a month for the next 36months at this SP level lol
Jv is for Greenland, clogau is his baby how I see it
ShouldveSold, From what I understand he is using some of the people that have previously worked in the mine (plus some new ones I guess).
From what I understand his plan is to carry on with the exploration (2 or 3 years?) and whilst he is doing that use the pilot plant to identify/confirm the targets. All gold found during the exploration, is Alba’s to sell and only pay 4% royalty fee.
This is why monetising the waste pits in the process is such a good proposition. The aim is to use the pilot plant during the exploration … and if proven commercial, will then move to full opening of the mine - this is my understanding.
You guys have held this stock a lot longer than I have so I'll take your word that he has & will continue to dismiss any JV proposal.
Does anyone know how many employees Alba has? Is it just the BOD or do they employ a fleet of local miners to go it alone?
ShouldveSold, GF never expressed any interest in doing a JV at Clogau (apart from a JV with a jeweller) - he wants to go it alone and he indicated so.
Going for proving veins (as many as possible) is in my opinion the wrong way to go about as in pursuing this the SP will collapse (I would have thought this is obvious to everybody by now).
He needs to do things that improve SP sentiment and keep the SP on the up. Showing gold or doing something to generate revenue whilst he is exploring and proving more veins is the way to go forward. The SP needs to increase before next placing occurs (because is not going to be the last one), but if another RNS comes out talking about veins … we by now know what will then happen to the SP.
The only thing that makes sense to me is; prove up as main quartz veins as Alba can. If permissions to reopen the mine for full production is granted, then Alba is geared up for an asset buyout or JV with a free carry.
Our friend Yanis has pointed out that an RNS reference the assay result on the waste rock should arrive imminently. There have been some very big sells today perhaps suggesting that some know more than the rest of us. Considering the Amistoq update on the 7th was in GF words " phenomenal " , we have headed south after an initial rise on the news release. It is really looking just a little bit sore. Things can change very quickly but currently sentiment is not with us, and after the news we have had recently that is all just a little bit puzzling.
It’s got to be at this point I’m sure GF reads this why I don’t think he wants more calling out might not do him well at the agm
my thoughts exactly ...
I do hope that the next RNS is talking about gold and revenues from the waste pits … and not about more veins!
If the next RNS says ' Another ten holes on the moon have been created' I might believe it
He is probably deep underground de-watering the mine discovering even more caverns to explore lol.
RNS dated 13 April 2021
https://www.lse.co.uk/rns/ALBA/clogau-update-pitting-of-waste-rock-dump-commences-hvzds5eiz1gz02q.html
“Assuming normal processing times at our preferred external assay laboratory, we expect, therefore, to have a definitive answer on the gold-bearing potential of the waste rock dump by the middle of next month."
The middle of “next month” (I.e. May) has passed. Where is the fecking RNS?
Somebody wake George up please, the SP is again below support.