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Thank-you again News for your informed posts - patience is always required with juniors but I genuinely feel we’ll all look back at these levels and wish we had bought more - I always think that with GGP
'News' you are a mine of information and thanks for sharing.....
I keep topping up a little here and there as and when I can as we all can't be backing the wrong horse, can we?
August could be the month for one, if not more bits of exciting news. Come September we could all be in a very different place.
News
Yes thank you, very informative and you have clearly taken much time and trouble to gather all of these facts together in respect of Mankayan.
Mankayan could be the game changer here, but let's leave CB to get on with sorting firstly returning the asset under BZT control and then extending the licence. Once that is achieved, its game on for sure.
Mr T
News thanks for kindly sharing your knowledge and insights. Keenly awaiting further updates from Mr Bird. Potential game changer at least.
newer ECR investors may not know the history. However, over here, thankfully the research had been done and I know a lot about Mankayan including Far South East and all the details. So, unlike the ECR investors, I dont have to scramble to ask what is it about this Danlay project?
I do not think that their ECR project is very big ie Tier 1 or low Tier 1.
I think I have looked at it in the past as I spend my time looking at everything to do with mining projects. There are so many I cant remember every single one. I tend to just wash it out of my mind once I am not interested. I tend to only look for Tier 1 if I can help it. But these are very few and far between.
So, I have just found out and put together, I present the news and info. I think on its own ie Oceana and Tempakan would not be as interesting as ECR*s RNS to actually tell folks that their long forgotten project in the Philippines is coming back alive. ALL THIS IS OF COURSE DUE TO DUTERTE*S LIFTING OF THE MINING MORTARIUM on 15 Apr 2021 and the cancellation of the extension to MMIH on 8 Apr 2021.
Have to wait what Mr Bird says and more importantly NEWS ABOUT MANKAYAN VIA A BZT RNS wherein he may inform further as ECR did?
With thanks.
News, Fri, 30 July 2021.
BZT MANKAYAN, PHILIPPINES
MMIH updated the JORC from 2004 to 2012:
793 Million tonnes containing:
2.8Mt copper [>0.25% cu]
9.7 MOZ Gold
20 MOZ Silver.
Link: https://mmihgroup.com/mankayan/
Its not a small project given Gold Fields had wanted to buy Mankayan given they also bought the next door to Mankayan ie Far South East which the owners did not want to sell 100%. Laurence Read, CEO of BZT said that Mankayan is a low TIER 1 but the previous CEO said it was TIER 1. Since then, MMIH has updated the JORC 2012.
Even GGP*s Havieron [they own 30% JV with Newcrest] and even currently the estimate thus far is 4.2 MOZ Gold from recall [kindly check]. However, GGP has a mkt cap of some £700m. Granted that Havieron is in WA, Oz there is a discount factor but BZT*s mkt cap is rather low at £8m++ for a Tier 1. If it was a low Tier 1 with a JORC 2004, it will be higher now that the 2012 JORC as above means few co*s have such resources?
PHILIPPINES
Ref: "SO COT EXECS TO RE-ASSESS TAMPAKAN COPPER GOLD PROJECT."-Philippines News Agency, 3 wks ago.
"The mining project, once approved would be the LARGEST IN THE PHILIPPINES and among the LARGEST COPPER MINES IN THE WORLD. Cotabato OFFICIAL will take another look at the delayed US$5.9 BILLION COPPER & GOLD PROJECT. THE GOVT WANTS TO PUSH THROUGH WITH THE PENDING MINING PROJECTS, INCLUDING THE ONE IN T E M P A K A N , to help our economy recover, he said in his weekly radio program." Call up this title in the search engine. All the big wigs in the Philippines govt mining sector were there ie mentioned in the article.
[Mankayan is not as large as Tempakan from recall at 1/2 of their gold deposit? Kindly check]
===
"OCEANA GOLD ADVISES ON DIDIPIO MINE F T A A R E N E W A L."- Global Mining Review, 2 wks ago. Oceana is Canadian listed? Again, put this title into the search engine to check and read.
[So, it would appear from the last I reported the Philippines govt is getting on with their desire to push thru all the renewals etc.]
====
ECR MINERALS LISTED ON LONDON AIM
I happened to see the thread running on the left hand side. I went to the London South East ECR forum to check and everyone was asking why the 4pm ECR RNS? Why at this time? Anyhow, the RNS was about DANALAY [spelling may not be right?] in the PHILIPPINES. It appears that they have been told this LONG LOST or so some thought was coming back ie 25% which ECR spent $2m. WHY? THE ECR RNS SAID SOMETHING LIKE THE SITUATION IN THE PHILIPPINES FOR MINING IS IMPROVING AND THAT THEIR PHILIPPINES PROJECT [NORTH] HAS ALSO HAD ITS L I C E N S E R E N E W E D!!!!
Whoa!!! See, what a bit of research can do. I did not post because I noticed not everyone was in the mood. I have known about Oceana and Tampakan for a little while now. But the ECR RNS TODAY AT 4PM, FRIM, 30 JULY 2021 TOLD ME THAT YEAH, THE PHILIPPINES IS INDEED IMPROVING IN THE MINING SECTOR [English understatement?]. Many are not very nuanced abou
I write further to the above asset. Per Prickly of BAGS, Mr Colin Bird said that we, investors could hope to hear further on Mankayan BY JULY 2021. Today, is Fri, 30 July 2021 & the stock market has closed. Someone said that Mr Bird is not in usual home but in the EU currently Spain?
MMIH & BZT Mankayan, Philippines.
The case is quite clear. MMIH was supposed to have jettisoned Mankayan into the Spore listed co together with their other projects which has NO JORC 2012. MMIH said due to the COVID 19, they were NOT able to do this & OFFICIALLY WANTED AN E X T E N S I O N to the agreement. BZT said NO, quite rightly as been running on and on. It was a CONDITION of the agreement as well as other clauses. Why? There is NO point in Mankayan being in a private co given that BZT CANNOT REALISE any monies for its asset. However, if Mankayan was put into a PUBICLY LISTED CO IN SPORE, then the shares BZT will receive for its 80% share CAN BE SOLD on the recognised stock exchange. Anyhow, BZT has stated in an RNS that they have consulted SPORE COUNSEL. Further, Mr Bird said in his interview [think it was in a XTR interview or on its own] that there should be no problem getting this asset back or that is his perception of what Counsel told him?
To me, its appears a CUT & DRIED CASE in XTR*s favour due to the fact that MMIH has NOT fulfilled their LEGAL AGREMENT, PAID NO MONIES TO ADVANCE THE PROJECT AS AGREED AND MORE IMPORTANTLY, THEY THEMSELVES ACKNOWLEDGED that they did NOT OWN Mankayan 100% and had to ASK BZT LEGALLY TO PROVIDE A LEGAL EXTENSION. The only arguement could be that there were "extenuating circumstances." There may be but is there such a LEGAL CLAUSE in the agreement? I think any tightly drafted legal agreement would NOT leave open holes to exploit. Everything is usually tightly written & the more the clauses to be LEGALLY FULFILLED, the harder for room wriggle. That is my view but it is not materially important. I am only speaking in broad legal lingo given I have not seen the actual agreement.
However, it is useful to see if one*s view subsequently comares to actual as and when. So, that is where we investors are at and waiting to hear what Mr Bird said re: update us on Mankayan.
I will click post quickly before the page freezes up altogether. I will finish at Part 2.
Fri, 30 July 2021 @7.35pm. Sorry for typos.