The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Also one of the key attractions is the location right by the sea so a port will suffice. Not sure what a jungle has to do with it lol.
Direct link to Pasofino Gold site for full RNS with map showing location relative to main deposit @ https://static1.squarespace.com/static/5898d2fdd1758e28995d7453/t/60a3ad153cb93b2c6d85df82/1621339450391/VEIN-May18.pdf
I'm glad you don't look after my money Tiger, they're not grades to be exploited or targeted that is not what the rns was about. It's a SIX KILOMETER strip that could be drilled to identify further deposits... the 50bps grade would merely be part of a stripping exercise should follow up drilling indicate further deposits to be exploited.
Meanwhile we're up 15% since you said you wouldn't be buying.
You really are a wally!! Keep it up, there's nothing better than laughing at wallies as the SP rolls higher
What rubbish. Quote from rns on progress:
"Additionally, Pasofino completed important key infrastructure developments during the quarter with the construction of 48 kms of road, including 24 bridges, and finalised the refurbishment of the exploration camp"
No, that Dugbe RNS really doesn't change much at all. In fact, I'm surprised that Pasofino bothered to report those results - it smells of desperation.
I still have massive doubts about the viability of the Dugbe project - they need at least a few hundred thousand ounces at better grades, otherwise I doubt this project will ever be financed.
Think of the risks - Liberia, Ebola, very hard rock (costly to mill), hilly tropical jungle, no roads, no power, no educated workforce, total government corruption etc. Pasofino has to put forward a VERY strong economic case to overcome all these risk factors. And that's just not happening.
@Adam The very modest grades you saw quoted " trenches KHTR007 and KHTR008 dating from 2011 returned excellent results (best being 26 m grading 0.79 g/t Au) but were never followed up. The new trench TZTR085 is located 500 m southwest of the Tuzon deposit and returned 52 m grading 0.18 g/t Au" were for surface trenching where "Trenches were dug to 3 m or to 'refusal' (if bedrock reached) and were 200-204 m in length."
No drilling has yet taken place and 'assays' were derived from lab fire assays. They clearly indicate that there is gold present but drill testing is required and soil sampling grade was much lower than gneiss rock sampling as you might expect.
The RNS is very encouraging as it simply points to significant potential extension of strike lengths.
ATB APR
The scale of what they are trying to exploit in Dugbe is not that of your usual junior minor and thus at first blush it looks like the grades (literally) unearthed appear to be modest. However, I suspect if they do gear up for production they will be aiming to be profitable at grade down even to below 0.5 grm/tonne. If so then what they have found potentially is profitable. For reference CEY mine ore regularly at this level and have until now made a decent profit.
I think what they are trying to communicate is the scale of what they might eventually dig up. 6km is a lot of land with potentially a lot of ore underneath. If might be nothing it might be something. I do not the Canadian share price went up by 5% on the news, so somebody thinks this development is promising.
If nothing else this demonstrates the scale of the challenge and what a reasonable idea it was to outsource the initial stages to guys comfortable with tackling a challenge at this scale. Mind you I am definitely not happy with the directors taking interests in the joint venture.
Also thanks for the various comments on SC selling out. It still sounds really dumb but I guess if they bought at 12-13p they're still making a profit. Would have made much more at 40p mind you!