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Here is my logic....would still like to hear from a CA though to confirm.
Mining reporting rules have changed and will be implemented this year.
All SEC reporting companies, other than those who file under the Canada-U.S. Multijurisdictional Disclosure System (MJDS), will be required to comply with the new rules for their first fiscal year beginning on or after January 1, 2021.
Now if you read the new regulations carefully you will find that reserves can now be included at PFS stage whereas before it was BFS....
A HUGE rerate is on the cards for all mining exploration companies imho.
Check appendix A in the attached explanation.
https://www.dorsey.com/newsresources/publications/client-alerts/2019/02/new-mining-disclosure-rules-2019#AppendixA
I agree Sheds...also if the 2mill spent on current drilling campaign, assays,ore sorting, Mets, etc....adds another 20-25% to NPV and LOM it is money well spent imo. The real value I believe will come when the indicated resources are added in to the balance sheet....this will force a rerate imo.
So the half yearly report due end of June May even have this included....let’s see.
Sounds like a last push to maximise the JORC before PFS. If they aren't drilling for further met samples I assume they're satisfied that they're on course to prove successful processes to extract the goodies from this zone.
and comment underneath Really looking forward to seeing how all these results and new holes contribute to the mine resource. Exciting times
https://twitter.com/LtdEuropa/status/14050698126074306
Picture from Toral pb zn and ag pfs drilling report from yesterday. Further holes to build resource/geotech understanding of project
Did anyone read the comment on the linked in post under Mondays post
Very pleased with the work the EI team did this weekend. As part of our objectives technical explanation on zn, pb and ag metals development and pathways to production, distinct to the much better understood coal sector in Spain, is very important right now as we communicate the appropriateness and esg best practice Toral operates under to key actors. Many thanks for those that attended and especially both the National and regional representatives of UNED. UNED is the equivalent of the Open University in Spain and is highly respected for its input and opinion.
They keep talking about production and key roles....Summats brewing IMO
To add to that below the influential UNED
https://pubmed.ncbi.nlm.nih.gov/22854018/
@shed lol ive bought the drill off to spain....
LR also has posted tweets about zinc and crops
https://sustainability.zinc.org/
Does this grant come under this too?
https://comunicacion.jcyl.es/web/jcyl/Comunicacion/es/Plantilla100Detalle/1281372051501/NotaPrensa/1285066977192/Comunicacion
Look at the RNS's and the initial one they did say it wouldn't stop us from applying for more...Could we be awash with European cash???
I still think Mm's should get out there with that rig off Ebay and do some wildcat drilling :) Top tip - don't test the drill while you're still on the ferry.
Yes that’s true, there are many capable small track mounted rigs loaded with the pulling power to rotate and pull up hundreds of meters of steel HQ pipe. It’s the engine power and capability.
The one you listed has the equivalent of a Volvo station wagon power haha
I suppose as we're not going beyond 800m in this campaign it might not need to be the heftiest rig. Who wants to volunteer to ask LR what the drill rig and crew is costing a day? I've got a funny feeling though it's one of those questions that we won't quite get a definitive answer to.
https://twitter.com/LtdEuropa/status/1393161836447555587/photo/1 click on the pictures its a lot smaller
@boka it isnt that big though https://twitter.com/LtdEuropa/status/1390625439341809665/photo/1
MM…. There are drill rigs and then there are drill rigs… the one in the link you posted will drill MAX 30m. It’s a baby for some farm bore holes hence the $$cheap $$
Dimond drill rigs for solid 350m + holes require something a little more capable…. Along these lines
https://machineryline.info/-/sale/drilling-rigs/Atlas-Copco-CT20--21032316482672704400
If you want more evidence of this look at the annual report for last year... We spent nearly as much on administration as we did exploration and the drilling was a lot deeper
https://www.lse.co.uk/rns/EUZ/final-results-for-the-year-ended-30-june-2020-n3xn83qt4ywxt0e.html
Other income
3(b)
-
7,212
Administration expenses
3(c)
(1,000,227)
(974,577)
Occupancy expenses
(2,824)
(32,489)
Exploration expenditure
(1,375,442)
(1,390,379)
Foreign exchange gain/(loss)
15,830
(1,979)
Heavy focus on portraying EUZ as a Spanish company....suppose we are with 100% ownership of EUZ Iberia...the local management team with Elena doing a great job IMO....maybe we get a blank cheque presigned soon :-) a bit like buttering up a fresh slice of bread I suppose....:-)
Guys my figure was much more realistic ill buy a drill rig for that money in spain
https://machineryline.info/-/sale/drilling-rigs/SANDVIK-DX6805036-1--19112923465693662900
The last link i showed on ebay they would hire out for £1700 per week it will cost about £1500 per day with labour and drill bits
Bricks I think Myles was talking about the cost of deep drilling to explore where we're closed off at depth. These shallow holes must be a lot cheaper but the fact that they've been out there since Jan it really must be adding up. Say a deep drill took 4-6 weeks at $US0.5m and they've been drilling for 21 weeks, would it be too simplistic to estimate that we could have burned in the region of $2m since Jan 18th? Probably.
Lols...just thinking out aloud....we spent 4million quid on the current drilling campaign and our MCAP is 5 million......must qualify surely for joke of the century :-)
So that makes it 8 holes...so far....@ .5 mil a pop ....4 mill already spent ? If MC was right with his half a mill per hole statement. So that in my records...puts us 2 mill in the red :-(..... maybe the BOD already know something that we don’t....but I smells news must be imminent then....some explanation must be forthcoming. GLA
I think you're right Bricks - 035 definitely makes more sense, but it did look like a 9 :)
Either you or I need some new specs....I make it a 35 :-)
Crikey look at the core box (TOD-39). That's 8 holes (assuming they're numbering sequentially) since phase 1.
Also influencial UNED https://www.uned.es/universidad/inicio.html
Its coming :)
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