If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good news I agree, though interestingly it didn't prevent Calibre's share price from dropping over 4%. Everything in my watch list was a sea of red today, everything except Condor that is! Onwards and upwards!
Alliance Agreement Highlights:
• Calibre and Rio Tinto entered a five-year generative exploration and concession acquisition
alliance under which we will work together to identify prospective mineral properties.
• Rio Tinto has the right to instruct Calibre to acquire selected alliance properties and will fund
the acquisition of those properties.
• Calibre will receive a fee for acting as the operator of the alliance equal to 10% of qualifying
expenditures.
2
• Rio Tinto shall have the right to designate one or more blocks of the alliance properties (each
such block not to exceed 40,000 hectares in the aggregate) and shall have the exclusive option
to earn up to a 80% interest in each such block, on the following terms and conditions:
o First Option: Rio Tinto shall have a five-year option to acquire a 55% interest in the
applicable block by incurring $5,000,000 in qualifying expenditures.
o Second Option: If Rio Tinto exercises the First Option and earns a 55% interest in the
applicable block, it shall have the right to earn an additional 10% for an aggregate
interest of 65%) by incurring an additional $5,000,000 over a five-year period.
o Third Option: If Rio Tinto exercises the Second Option and earns a 65% interest in the
applicable block, it shall have the right to earn an additional 15% for an aggregate
interest of 80%) by incurring an additional $15,000,000 over a five-year period.
Russell Ball, CEO of Calibre stated: “It is my pleasure to welcome Rio Tinto Exploration as our partner in
Nicaragua, a country we believe has both a tremendous geological endowment and is under-explored
from a modern exploration perspective. As one of the world’s premier mining companies, Rio Tinto
brings a tremendous global perspective and both the experience and capital necessary to accelerate our
value-creation efforts. I expect this to be a long and mutually beneficial arrangement that adds value for
our respective shareholder groups, but more importantly, for the people and the country of Nicaragua.”
The so-called 'boiling-zone' south of La India could potentially be a copper/gold porphry system. I think that's what Condor geologists suspect, but it will take time and money that we don't have at the moment to drill it and prove it.
it was in the press release with their link up with Calibre:
"Further, Calibre and Rio Tinto also entered into a strategic exploration alliance agreement under which they will work together to identify and acquire exploration concessions in Nicaragua, with a focus on copper/gold porphyry, skarn and epithermal precious metal systems".
Can't remember copper ever being a factor or MC mentioning it. The potential 5m Oz gold district tho has surely got to turn their heads. Once we have the land packages and the permits which are all pending..it's game on.
Why do you mention copper Aguila and I hope you're correct..
Rio Tinto is a FTSE Company, market cap £49 Billion. 2019 results out yesterday, underlying EBITDA $21.2 Billion, free cash flow $10 Billion.
Rio Tinto Exploration JV with Calibre is a massive positive for Nicaragua. For a Company of this size to enter a new jurisdiction requires a lot of technical, political, legal, country risk due diligence. Despite the political set back 2 years ago, Rio is investing, others will follow. This is a massive company that understands operation risk in frontier/developing markets. It has decided it can work in Nicaragua. What MC has been saying for years
Rio's deal is an earn in agreement of up to 75% of Calibre's Borosi concession package by spending US$45M over several years.
secondly, the "Strategic Exploration Alliance" is potentially really significant: "Rio can instruct Calibre to buy properties and will fund the acquisition of those properties". Does La India Project host a hidden copper deposit?