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thats the thing though shed we need this expedited to take advantage and will LR grasp this
Sure Bricks - not surprising with lead and zinc prices surging again. At the start of the pandemic I had concerns that deflated metal prices could sink us, what has actually happened is beyond remarkable. I don't simply mean higher commodity prices putting a gloss on our robust conservative economics but supply chain policy being given the biggest wake up call since WWII. I was at an event last week and since I haven't invoiced yet let alone been paid plus I had to sign a NDA I won't disclose what it was :) but rest assured the message was ESG, supply chain security etc, so much echoed what EUZ are shooting for, time for LR to deliver, certainly no excuses in the current climate.
Agree MFM ,a lot of secrecy for a company that claims it doesnt understand the SP.
If you want to attract donkeys you need to dangle carrots. ( as someone probably said at some time)
Something else I noticed on EUZ’s latest tweet….there was a link to this…” Premiums in Europe rose and premiums in the United States remained steady while global market participants prepare to negotiate long-term supply contracts.”……wander if we can read into this…
Some good stuff Money…. I noticed this…it somehow caught my eye…”Certain exploration and mine development expenditures are eligible for economic development grants and interest free loans “……even back then in 2006….grants were granted….interesting indeed.
I wonder if any of these are still potential investors from 2015
LAGOA SALGADA - 3D MODEL OF RESOURCE
The Directors believe that both the Toral and Lagoa Salgada projects have highly prospective geological expansion potential.
The Company intends to work with partners to expand the understanding and definition of both the geological breadth of the project and its metallurgy.
Once this transaction is complete, Mineral and Financial will have one representative on TH Crestgate's three-person board. M&FI intends that Jacques Vaillancourt will be appointed a director of TH Crestgate. TH Crestgate will manage these assets with the objective of improving them by various means to create value. To that end TH Crestgate will immediately form an operating committee, which will also review all strategic options for value optimization. It is the current intention that the operating committee will refresh government relations, re-negotiate and update licenses and thereafter recapitalize these subsidiaries. It is also intended that TH Crestgate will utilise the specific experience within M&FI to ensure that best path to value optimisation is followed. It is TH Crestgate's intention to affect the necessary financial and efficiency improvements in the short term as well as remediate local Government relations.
This project has also been well tied to government for quite a while and as my previous post they seem to back this mine and want it producing. Now the reliance on metals for energy rather than coal government need to create jobs.
Thanks Mm's - yes I have researched Zinkgruvan before as an interesting example of producing copper alongside Zn, Pb-Ag. As regards Bricks and Mm's comments I also think LR is far too cautious when presenting the public face of EUZ. I don't want to be too critical as I really appreciate that the comms are there. I think a b*llocking might have been handed out by Strand Hanson when EUZ were shouting about excellent 'visual mineralisation' before the assays were returned in 2019. They subsequently had to RNS that certain cores returned lower grades than expected and since then I think there has been an excessive caution which comes across particularly badly in interviews IMO.
@shed from lundin
Mr. Karl-Axel Waplan, President & CEO of Lundin Mining, commented, “Toral has great potential to become a mine asset which we have acquired at very low cost, representing great shareholder value. There are many similarities between Toral and our Zinkgruvan orebody, including a steep, sheet-like shape which is good for mining, and the coarse-grained zinc-lead sulphides with low pyrite content and good silver credits that should be easy to process and could make high-value concentrates. If we can verify the historic estimate and exploration potential, our plan is then to fast-track the Toral Project to mine feasibility stage with the help of excellent government and local support that we are receiving on this project.”
Lundin Mining is an active explorer for minerals and a fast growing producer of base metals. The company owns three mines, two in Sweden, Zinkgruvan and Storliden, and one in Ireland, Galmoy. The exploration portfolio is extensive and it also includes interests in international ventures and development projects. Lundin Mining has its head office in Vancouver, Canada, and its executive management team in Stockholm, Sweden. Lundin Mining’s shares are listed on the Toronto Stock Exchange and its SDRs on the Stockholm Stock Exchange O-list.
ON BEHALF OF THE BOARD
Karl-Axel Waplan, President and CEO
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Lundin Mining believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release.
Zinkgruvan is an underground mine with a long history having been in continuous production since 1857. The operation is comprised of an underground mine, a processing plant and associated infrastructure, producing zinc, lead and copper concentrates. Lundin Mining acquired the mine from Rio Tinto in 2004.
Well that's part of the problem here too much secrecy around too many aspects of this project imho. A grown up company would engage with shareholders on questions like that in a more forthcoming way.
Strange you mention that Sheds…I also quizzed him on “ One third of all gold is produced as a by product of copper, lead, and zinc production. ” and wanted to know if the latest Mets will contain by products as I guess the PFS will….Needless to say….no comment.
Source : https://nature.berkeley.edu/classes/eps2/wisc/gold.html
I have in the past mfm and I know what the official line is, it's also in the RNS. I just wondered if anyone had an opinion on how we get from a modest indicated and inferred copper resource based on the Canadian National Instrument 43-101 standard in 2016 to nothing five drilling campaigns later despite consistently hitting good grades while infilling the Peñarroya and Lundin drilling? Yes the JORC is a more stringent method of reporting but I would have thought the improved mapping would have mitigated that and given us something despite the intersections being of modest width. I just have a suspicion that there's more to this than meets the eye and might have something to do with considering the 'technical partner' but I guess until we hear otherwise as LR will tell us AMS didn't give us a copper resource and that's that.
Lols…yep…definitely the legal route….:-)
Shed why don't you just email LR with your queries regarding Copper?
Its fashionable to arrive in a dingy Bricks, You are thinking super yacht then ? :-)
Whilst many may take 35p…I won’t…in fact I’m not selling my stake even if they offered me a quid and they delist. It’s my ticket to Europe….lols :-)….having a giggle of course.
I get that BricksSA and i was being simplistic but my point is Institutions rarely invest big in companies under £100m.
What i am trying to say is that the sooner the Mkt cap and SP is sorted the sooner the vulnerability will reduce..
EUZ is vulnerable at the moment, i would guess most holders now would happily take 35p and not look back
Sure Bricks completely get that in terms of investing capital in say Cu metallurgy which would have been an additional expense over the years but having paid for and received the assays from ALS and having paid AMS for the JORC I'm just a bit bemused that they haven't announced an inferred Cu resource however small. The money has been spent on investigating copper as a resource (admittedly as a sideshow to the more prolific metals) if not the processes to subsequently extract it even though I agree we are obviously targeting our more important Zn, Pb and Ag. Also with primary copper deposits becoming scarcer, mines like Toral with copper as small part of the portfolio will become increasingly strategically important.
Fortunately we are a public company and it isn’t as simple as “ why they should put say £5m into a £3.5m company rather than just buy out the company.”
It doesn’t work like that Highside…and I’m sure you know it…any sale would have to be put to the vote and I am fairly certain we won’t sell it at that price when the NPV shortly will be over 200 million quid.
I think the answer to that is simply money. This is about getting a PFS at the earliest and cheapest route. They dont have funds to explore all routes so they have to take the cheapest to a saleable package even if that package is not the complete picture.
The AIM is littered with micro mkt cap companies that were wound up with a lack of funds, their assets bought back by directors , who form new companies ,from the receivers but crucially without the shareholders who pretty much financed the work up to that point.
In SP and Mkt cap terms EUZ is drifting without a ruder. Has been for ages. Lawrence needs to get a grip on this to A/ reassure shareholders their investment, present r future is safe and B/ He needs to realise that being a grown up company is more than consolidating Shares in Issue.
I would be worried as it stands that any investor thinking of putting in a substantial sum be it the EU or corporate would wonder why they should put say £5m into a £3.5m company rather than just buy out the company.
We have always been told we are primarily a Zinc lead and silver play…and the priority was to build up the business case on these 3 resources. Cu has in the past taken a back seat as such as the BOD imo could not really justify at that time to spend funds on further exploring Cu when we have has yet not lodged a title for exploitation….of the Zinc lead and silver.
Sounds like it will be changing soon though and some form of strategy is being developed to further explore the Cu…all goodly in my opinion and I am very confident that at some stage Cu will be in the Jorc….time will tell but I’m looking forward to the Mets update and the PFS. Best D
Yeah I saw that Bricks, reminds me of a question I had that wasn't answered. WAI have had metallurgical samples from this zone since April, are they really only now commencing this phase of metallurgy? Another thing I don't get is that in 2016 we had a small indicated and inferred copper resource in the Micon NI 43-101 Technical Report. Five years on we have had one soil sampling investigation and I think five drilling campaigns all recovering good grades of copper but while the JORC is more rigorous than the 'foreign estimate' I really can't fathom why we don't at least have an inferred Cu JORC resource under those higher standards. They have said "With the presence of copper in the system, the Company is now considering third party technical options to further understand the potential benefits to Toral", suggesting the intersections are significant enough to interest a third party. I've just always felt there is more to this copper than we're being told, could it be the key to unlocking some funding, some sort of technical partnership with an option on the copper perhaps?
Anyone spot this update ?
This data has a direct and positive impact on confidence and proven knowledge of the nature of the deposit, as well as its potential. The data have a notable impact on the increase in production compared to what was initially planned for the first years of the mine.
But the positive impact is not only economic in terms of mineral grade, but also in terms of the initial expectations of mineral exploitation, since the Indicated Resource has been increased at more superficial levels, which has an impact on the benefit of the production schedule. , covering the amortization period, as well as having a positive impact on the ore sorting test (mineral classification).
Let us remember that exploration continues to be open in depth and towards the East, so this news consolidates and gives a new impetus in terms of acceleration and competitiveness on an international scale to the project.
The following works from this moment will consist of a new phase of metallurgical analysis in the upper zones of the deposit.
To clarify…To buy I could only get a price for £500
LR that gives you a clear 12 years until my sons 21st birthday…no pressure…over to you !
Can only get a price for £500