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I just recalled that there was supposed to have been an OFFER FOR MANKAYAN FOR $10M.
I checked online and the post is from andrea 152 on ADVFN dated 22 June 2018 at 11:15:
"Well, apparently a/c to someone on LSE they TURNED DOWN a bid for $10M DOWN, a few months ago. That was BEFORE copper prices turned up and the Philippine govt changed their stance on underground mining for the better."
"Apparently, someone is looking at FAR SOUTHEAST AND MANKAYAN AS A TOTAL ENTITY to buy it from the likes of LEPANTO/GOLDFIELD/BEZANT...."
https://uk.advfn.com/stock-market/london/bezant-resources-BZT/share-chat?from=25&page=205 [From the archives as above].
Also, by andrea 152 :
"LR saying the days of 1% copper ARE OVER and BZT HAS 0.6% COPPER which will become "high grade" in the new mining world, where all EV MANUFACTURERS and power suppliers will be looking for COPPER of any GRADE as we move to an ELECTRIC SOCIETY.." 5 July 2018 @10:12
Same link as above from the ADVFN archives on Bezant Resources.
LR is Laurence Read, CEO of Bezant.
Obervation:
I remembered it from the past re: above.
We await to HEAR FROM MR COLIN BIRD HIMSELF IN THE NEXT INTERVEW [Executive Chairman, BZT] and what was said at the time as above.
Mr Bird himself said in an interview on his other co that he does read what shareholders post on forum relating to RESEARCH.
Sun, 16 May 2021 @5:45pm
"BULL CHART FOR $30,000 COPPER PRICE , P O R P H Y R I E S NEARLY M I N E D OUT."- Mining.com, 14 May 2021
https://www.mining.com/new-bull-chart-price-porphyries-nearly-mined-out/ 14.5.21
[Thanks to 2020Upside for the link below, 15 May 2021 @12:03]
Here is the gist:
-80% of copper supply comes FROM PORPHYRIES.
-The authors of the study took data from some 115 co*s & found that COPPER RESERVES HAVE GONE UP IN THEIR RESOURCE BANK using a CUT-OFF OF 0. 2 5 % cu copper FROM 0. 4% cu previously.
- SUPPLY OF COPPER DEPLETION.
-The authors think that the situ of using lower cut-offs cant continue forever.
Observation:
Mr Colin Bird, Executive Chairman of BZT said in an interview with Zak in 1 of his co*s recently the same thing ie 80% of copper supply comes from PORPHYRIES. BZT*s MANKAYAN IS A PORPHYRY.
Mankayan*s JORC 2004 [Snowden] was 1.3Mt COPPER & 4.3 MOZ GOLD.
MMIH*s UPDATED MANKAYAN JORC A/C TO 2012 STANDARDS CAME TO:
6.9 MOZ GOLD
2.8 MT COPPER
20 MOZ SILVER.
At the time, I did logically reason out that like Mr Bird*s other co, the scoping study showed that if copper price was US$7,500, the copper grade is 0.2% CUT-OFF [ECONOMIC] and if copper is US$10,000 the cut-off grade in 0.15% cu copper.
For Mankayan, BZT paid some £5.2 million to buy Mankayan at the time and after BZT took it over, they drilled a further 9 holes for some US$5m. So the cost alone is some $10 MILLION vs £13m mkt cap @0.32p/0.35p, Fri, 15 May 2021. Many co*s that drill porphyries to JORC standard would be blessed to spend US$10m on it. I cite from recall Havieron*s drill came to some £2.4m at 1 raising to drill several holes ie a total of 9 holes [raised 3 or 4 times? from recall]. However, do look around and see if any prophyry can be drill for less than $10m to JORC standard.
So, as the authors stated, depletion is evident at copper co*s.
Read the full article for the details as I did NOT TAKE NOTES so quoting from memory,
Thanks to 2020Upside for the link and attribution given.
Sun, 16 May 2021.
Would be nice
https://www.mining.com/new-bull-chart-for-30000-copper-price-porphyries-nearly-mined-out/
Hardly helps when you have a number of 'chartists' predicting 2-4p in not too far into the future! I'm invested here from 0.09p and happy to sit tight until we see what unfolds at Mankayan (potential game changer), Minemba/Kalengwa (potential game changer) and Hope (potential game changer). CB even talked about other potential investments!
Plenty to look forward to over the coming months and no wonder peeps are excited about their investment....
I can't help but feel there is a level of expectation now amongst some 'investors' for their money to go up by 25, 50, 100% in a day/week. This probably isn't helped by the insane gains people have seen in the Crypto sector over the past few months.
It isn't a true representation of the market and simply isn't sustainable.
The get-rich-quick brigade will be in for a shock when we see the next bear market.
It is important to research, position yourself early and trust the fundamentals.
well said MFM
"I don't think I've ever seen a chartist make an accurate prediction"
I make money every day in the forex market using just charts so when people say there's nothing in it I just smile to myself. When you talk about an accurate prediction you need to define exactly what you mean.
I've never said "by Wednesday next week the price will hit x.x p". You CAN make surprisingly accurate predictions when day trading forex if you have thousands of hours chart time under your belt but I'm not day trading this and it isn't forex so any chart 'predictions' as you call them are on a different timescale to what you seem to be looking for and there are many more variables with stocks.
Most people want you to tell them short term price targets so they can trade in and out so I deliberately very rarely make those kind of predictions so as not to encourage that type of trading in stocks I'm invested in for the long term.
Also you have to remember volume and news play a massive part with AIM stocks. It's much harder to predict timescales when a stock doesn't have volume behind it or when a stocks price is as low as this or if news is suddenly released. Buys and sells can move the price significantly up or down hence my comment the other day about the fall just being regular market fluctuations.
All I'll 'predict' here is that long term holders of say 3+ months will do well. That's the minimum timeframe I would recommend. It definitely can rise a lot sooner but you have to get the balance of probabilities on your side. Buying in expecting to make 50% or 100% in a week or two is just akin to gambling. I don't gamble I play the odds.
Really doesn't seem alot for the potential here