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I’ll wait for ARV to strike, even if it does 50% the day it does, I can still get 5x upside, but no risk of sitting there for years hitting dust and raising funds in the meantime. GGP was still 1.4p AFTER hitting Havieron
Chartbuster I think we agree. I didn’t say “grinding on” was my opinion, but I do still think they will need to JV etc to make substantive progress. If they do make it with 100% ownership then good luck to them, but it’s going to take a hell of a lot longer, at least.
Great to see you posting CB and likewise
Someone said to me after the Environmental Report was issued by NCM if Ggp had to produce that report the amount of work involved would have broken them.
It’s not just the mining that costs .
Artemis will need Ggp / NCM at some point.
Look to the west of Apollo into Scallywag the ore body extends that way another Decline would only be going through 300m of cover or less if it’s further away. Going from Artemis side will be a lot deeper.
Then there’s the access costs to Telfer .
A joint venture in whatever form looks more and more imminent in my opinion if Apollo comes good.
GDay fellas
And you wonder why I dont post here anymore reading some of this. Bamps and I agree, just out by 75m on cover to Nimitz. We disagree that owning 100% is somehow bad. Doing a JV is not the only way to explore for gold.
GoGreen Artemis have just started drilling at the Paterson. Hardly grinding on. Make a discovery, price goes up 10X.
The chief arseclown complainer readyaimwhineg on hotcopper complains about everything and is still talking about things that happened 6 years ago. He complains about CRs, complains about divestments complains if the price goes up and if it goes down.
The bloke doesnt seems to offer up how exploration is to be paid for? He is just a bitter old d*ck who gets kicks trolling and makes up stories.
I hold GGP and ARV. Both are great opportunities. GGP way undervalued and will go up.
ARV capped at less than GGP before any Hav discovery. Think about that.
Ill check back in a few months when this page stops bickering. In the meantime chill the f**k out everyone.
Cheers CB
The issue with Artemis imo has been that they are grinding along with 100% ownership and there is clearly repeated frustration with Aus shareholders on HotCopper that there isn’t enough progress and/or they do repeated capital raises to keep funds flowing. If they have a clear good find at Apollo/Atlas imo they will need to JV or get taken over to make it work, as Bamps/WF said earlier. They are clearly intent on making 2022 a big year for them. Personally I felt it was the right time to invest, but it is obviously speculative, as junior explorers often are. GGP was, until Hav was discovered!
Bamps - I do hope the opposition don't get to you.
I learned recently of a Japanese saying, which is sadly often true.
"????????" - "The nail that sticks out gets hammered down.”
I'm grateful that you share your own hard research and ideas with the board. I'd understand if you decided to stop. I admire your work ethic, kindness and integrity. For your own sanity, I hope the bast*rds don't grind you down.
It may be that Artemis sell out those blocks to the Hav JV .. just a thought !
Well Phelsb or whatever your name is you twist things all the time.
I haven’t twisted Ggp situation around if we had not had a joint venture we would still be drilling exploration holes trying to find what was down there with no end of dilution.
Artemis are in that stage that Ggp were in before the joint venture. People like you were criticising Ggp for giving away but with no real knowledge of why.
I do not ridicule I only prevent facts from in depth research.
I see no research at all from you just constantly ridiculing other posters with continual abusive attitude and disruptive nature.
Agreed @Bamps. As I see it, if they find anything at Apollo (or anywhere on their patch), then they have to work out how to afford to make it work.
Options are:
1. raise the cash (HAV over $200m so far, but with no cost for processing plant), loans or dilute, but how much for all the infrastructure plus mine etc?
2. JV with NCM. Will NCM want to move as fast as HAV? Would this be a slower operation to bring in ore through HAV infrastructure in year 10, say? May well depend on the quality of the find!
3. JV with RIO? Will this work?
4. Raise cash (via dilution?) to prove up the find for sale.
5. Merge with GGP.
I'm sure there are more options, but however you look at it ARTEMIS will need access to capital in some form or another, this comes at a cost. So 100% ownership is good but it does present challenges.
To me it is a speculative shareholding which may or may not come good. The nearby companies that have access to cash (which will include us) may end up with the lions' share of Apollo. That's if it's worth going for, of course (it may be good,but not good enough).
I'll put some cash in, but will write it off as 'lost' straight away - if it comes good, Happy Falcon. If it doesn't I've lost my bet.
To lure in a major an explorer needs a major “discovery hole”. Unless ARV achieve this I cannot see any large JV partner signing up with them. Look the last year or two and see how dilutionary all the raisings have been for ARV. They’ll continue to do so for a long time as well, unless the above occurs of course.
For someone to come out with a statement that owning 100% is not a bad thing, how utterly ridiculous that is for a junior minor in the middle of a desert let alone the North York Moors.
Where would Ggp be now at Havieron without a joint venture.
$200m spent so far and climbing rapidly.
Progress on exploration drilling would have been painfully slow, with not much chance of bank funding and no end of share dilution.
Obtaining a PFS at Apollo or Atlas will cost, that’s 100% of everything.
If they turn out to be grade 2 targets they may not be economical for a junior on its own .
Presumably the price will have to be pretty equivalent to the price on ASX (allowing for exchange rate) if it’s a dual listing.
I wonder what the price of the placing will be - should hear something soon
THE PLACING
The Company intends to raise up to £5 million by means of the Placing. WH Ireland is acting as Sole Bookrunner and Nominated Adviser in relation to the Placing and Admission and the net proceeds of the Placing will be primarily applied for the development of the Group's Carlow Castle project and Paterson Central project as well as working capital. It is intended that the Placing will be conducted by way of an accelerated bookbuild process (the "Bookbuild"). A further announcement confirming the opening of the Bookbuild including the terms and conditions applicable to the Placing is expected to be made in due course.
Bamps....OBV
bumps- truly you are the best DYOR on any board i have ever seen- Bravo
There is a historic map showing the old licence boundaries from los Diablos southwards taking in Havieron and some of Artemis and Rio licences.
On this plan is a range of contours showing the depths of the Permian cover.
At the north end around Los Diablos the contours are far apart showing a gently sloping cover basement floor.
At the south end at Havieron the contours merge closer together showing a steeper floor of the cover.
This is falling steeper from west to east Apollo is about 370m Havieron 450m and Nimitz around 600-650m depending which drill you look at.
I don’t know why I’m trying to justify myself
Interesting conversation here. Like a few others I hold Arv shares - only a few £k, via ASX. My view was that Apollo, being next door to Hav, has a decent chance of mineralisation and felt it was worth a bit of a shot as one of my satellite holdings. It’s a pretty volatile stock so far but like someone said earlier, early exploration plays can be all or nothing, so a good set of assay results could be the shot in the arm it needs. If it’s even a little brother of Hav, it would be a great find. I’m thinking that they ought to then JV it or a bigger player might come along and buy them out. Keeping 100% is great but it will take much longer to drill it out on their own than with a big player behind them imo. Fingers crossed for success for both companies from me.
Ooops CB not cab :))
Hi cab
Have a good flight
I am not confused but the RNS does not state any cover depth at Nimitz.
It does mention the depth at Havieron where the cover itself is 420m deep in the west and 450m in the east of the crescent by the time you get to Nimitz it’s down to 600m.
The seismic section shows this quite clearly.
“ The Havieron gold and copper deposit is associated with a strong magnetic anomaly and sits under about 450m of sedimentary cover. Mineralisation at Havieron extends over deep intervals to at least 600m below the base of sedimentary cover, “
The highest ore in the 3 holes were below 600m at about 620m
I haven’t found where you find it any different in any of the RNS’s
Bamps
Im well aware the Permian slopes W to E but you are confusing down hole depths of drilling with depth to cover.
No one will drill in the far east at 800m + but thats a fair bit further E than Enterprise or Nimitz.
Anyway my flights boarding soon so got to go.
Cheers CB
Enterprise West may be slightly deeper cover than Havieron but Enterprise East will be around the 600m+ Depth
Hi Chartbuster
From the RNS 8th February 2021
“The Permian sedimentary cover is 300m thick in the far western part of the project area and is interpreted to deepen to over 800m in the far east.”
The Base of the Permian cover is not level you can see that on the Decline sections and the hydrology sections.
https://wcsecure.weblink.com.au/pdf/ARV/02338686.pdf
There is also the Moodoo seismic section that runs from Rio in the SW through Artemis then the corner of Havieron and then passed Nimitz to the far border.
This shows a progressively sloping base of the Permian.
https://wcsecure.weblink.com.au/pdf/ARV/02264726.pdf
Pages 2 and 6 show the seismic line , there is another one somewhere I haven’t the link for it but it’s in one of the quarterly reports that show it sloping more clearly.
The drill logs show the ore body starting around the 620m mark on one hole and a vein on the other at 918m
GDay fellas, Still read here, in GGP and ARV. Story has only got better in last 3 years. Hold for Gold!
Dont spend much time on BBs but lurking in background.
Cheers CB
Good to see you’re still around Chart!
Seems to me there’s lots of LTH’s from back in the day just sitting and waiting like the rest of us…
Don’t forget guys, the story is still only a few chapters in…looking forward to the main bulk of the book to unfold…