Tim Watts, CFO at Shield Therapeutics #STX presenting at our Life Sciences Investor Briefing Watch Now
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Jeremiah. Im with you on the 10%ers. Nothing against traders..just the noisy ones who live in a moral vacuum and try to bs others into buying or selling their shares. Shouldnt get involved in their nonsense but sometimes get drawn in.
Your welcome to visit here anytime and if you want me to introduce you to a Filipina, either naughty or nice, thats no problem. Beers cheap as water so as long as you dont mind only having a choice between san miguel and san miguel light im up for a session or two.
can we drop the shorting conspiracy time to take stock and recap todays price reflects the dip in grades nothing more. West Lunga and Lumbeta are next targets remember there are several. The recent dip was expected and I stated low 3's
J99 and G1981 x F29
We'll get it.
Graham 1981, of course 1% is a good grade it's just that we hardly have enough of it. Give us 30 mtrs average thickness of it over a sq km or more then you're talking.
Bloodshot, I'm not into online spats and anyway you'd be the last one I'd want to argue with, I'd rather come over there and have a beer with you (and maybe come away with a decent Filipina bride!) Its the 10%ers that annoy me trying to lure others in by spouting twaddle. Probably the kind of person who'd pickpocket an old granny at the bus stop.
I was using that as an example but here, I would say yes. The whole thing is interesting because it's relatively shallow. But there are also other factors which I don't think they quite understand yet as to what and why the 'black sap' is where it is (based on what I heard in the conference call the other week).
So are we in agreement that 1% is a good average grade?
Copper content calculations:
Volume = Length x Width x Thickness
Tonnage = Volume x Specific Gravity (Density)
Grade is grade in % content of Cu metal
Hence on a very basic calculation / estimate, if you have continuous / homogenous mineralisation within an area of 300 m x 650 m and it is 10 m thick and after doing countless S.G. tests on your core, you have an average S.G. for the mineralised material as say, 2.9 (no units), the tonnage will be: 300 x 650 x 10 x 2.9 = 5,655,000 tonnes of material.
If the grade of that material is 1% copper (assuming a uniform grade for the sake of this, which it isn't usually). The tonnage of copper in the material will be 1% x 5,655,000 t or 5,655,000 x 0.01 = 56,550 tonnes of contained metal.
If you want to estimate the in-situ value of that then multiply by the copper price (cash, this am) of US$ 5,667.50 to get US$ 320,497,125.
Of course, these are just back of the envelope figures. You need to assume mining factors (extraction and dilution) , processing efficiencies etc. and a whole load of other factors but this gives you a figure to kick around (and down!).
Obviously, you could double the area and half the grade if the mineralisation's there etc.
Jeremiah, what depth are you working your calculations on? 0.97% over that area is a LOT of copper based on even 100m depth. 1 cubic metre of copper is 9 tonnes. To explain, 300 m by 600m by 100m depth at 1% is 180000m3 of copper. At 9 tonnes per m3 is 1620000 tonnes of copper. 1.62 million tonnes!
Jeremiah. Im not looking for a spat.. The reason for my slightly irritated tone is that you were calling someone elses post misleading and I thought yours could also be interpreted as misleading. I dont think rough calculations based on guesswork and using very limited and incomplete data are useful at the moment but..that said..if your in the ballpark and its confirmed by others then well done. Im not good at calculations myself so I would be interested to see your entire calculation if you dont mind. Ive no idea how to calculate all those different thicknesses and grades with any accuracy.
Bloodshot, I expected more of you myself, I am disappointed in your tone. As for wild stab in the dark, I did say they were rough calcs based on what we've found so far at C. east (0.97% average grade over 650 x 300mtrs area) to give a ballpark figure in the tens of thousands of tonnes of copper versus 4m at Sentinel. I know I dont know a lot about mining but I seem to have a lot better grasp of the figures than a few on here, as does the market, apparently. Please try and be realistic and dont fall for the traders guff. I've lost a lot of money listening to them (and other assorted ignorant investors) blowing smoke up my @R$£.
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But Sentinel is a good comparison as its nearby and shallow low grade, low cut off grade...same political risks etc. Its shallow open pit which is the method that would be used on the resources that were finding so far.
Jeremiah i expected more of you. Your estimation of how much copper we have at Chey East was just a wild inaccurate stab in the dark and this 'is' a ridicilous comparison and is misleading because youve just plucked your figures from anywhere in the world (we are in Africa) and all very deep, which makes them difficult and expensive to mine. Ours is close to the surface and easy to get out using open pit method. Theres also geological, political, environmental and social risks etc...all included in the cut off grade calculation...the most important calculation of all so it would be useful if you could add them please.
Also a share price can go up of down for a multitude of reasons so inferring that the drop is due to the drill results is also 'misleading'.
Copy link and remove the dots
Initial drilling results from the sentinel mine. Interesting comparison bearing in mind the depths. Think arc need a better map published, the lower grades on the latest holes look like they are at the edge of the soil anomaly, but hard to tell. Also need to tests the sulphides below.
They were average but average is ok! Keep waiting
I'm not denying the drilling is at an early stage I'm just pointing out your misleading statement. No way were the grades good, if they were the s/p wouldn't be off by 30% now would they?
The drilling is at an early stage, that sort of comparison is ridiculous!
Good grades? Really? For comparison, this is what commercial quantities of cu eq look like -
"Potential at Trivinio bolstered by Hole 93 intersection (862m @ 0.43% CuEq), 520m of which lies outside the existing Inferred Resource area.
Alpala North mineralisation remains open to the north, as shown by Hole 75 intersection (1918m @ 0.53% CuEq), 288m of which lies outside the existing Inferred Resource area.
Discovery of previously unknown QD10 source intrusion at Alpala Northwest, intersected in Hole 86 (318m @ 0.67% CuEq incl. 100m @ 1.34% CuEq), highlights potential for further significant resource extension as the 2019 drilling campaign continues.
Alpala South mineralisation remains open to the south and towards surface, as revealed by Hole 89 intersection (420m @ 0.61% CuEq)."
The grades in the RNS were good, recent director dealing at 4... drillers at 4.5. Patience!
All depends on whether they find copper in commercial quantities. Kalaba was a bit overhyped, Cheyeza East looked good then not so good. It may bounce back - they may find more copper at useful intervals in another direction there, otherwise it's off to try elsewhere. Hopefully something will deliver as promised, and we have enough targets to go at so still all to play for IMO. It would be nice if fate doesn't leave the best till last though! :-)
Strong resistance at 3.5.... Will creep back up to 4 soon.