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That's cool, thanks for confirming i have read something correctly :)
Gla, hopefully i can top up tomorrow
Lm,...you have got it all completely right!,.....GL S
I was thinking along those lines lmol. And thank you for your thoughts Swizz.
Am i reading the last RNS correctly by thinking that there is no point drilling to 120m when it doesn't seem to be anything below 53.52m so they may as well save drilling to the 120m depth. Which will save both costs and time.
It also looks like there is some very good grades at very shallow depths. Which may make a nice initial target for extraction to get funds coming in.
I have probably got it all completely wrong though.
DS, I think you are referring to the strength of data, that is used in the PEA and if so?, I would suggest minimal, they have significant data from previous drilling and geological activity and with the currently activity underway and taking into account the logistical profile of each drill hole, I would suggest they are very sure the resource is there and it is also at shallow depth, ....GL S
Hi Swizz - I can't work out what difference if any the reduction of drilling will make to the PEA.
Do you have any insights you can offer?
Many thanks
DS
DD, based on the companies most recent corporate presentation, I think the $1.5m is spot on, I have included the link below for you, on page 3 you will note that it provides a reasonably up to date overview, of the company’s liquidity, plus the presentation contains a lot of other detail that you may find of interest,.......GL S
http://www.jangadamines.com/media/1354/jangada-q1-2020-presentation.pdf
Maybe because tentative discussions have already taken place they already know that the reduced drilling is enough for what they need to prove. But what do I know?!
David - I can see why some are losing patience with you. We’ve already addressed a number of these issues, perhaps a review of some of the earlier posts might be in order.
Previous RNS clearly state we had cash to cover the 2500 drill campaign and the subsequent PEA. Considerable work had already been done by the company on feasibility studies for PGM project that was sold to Valore last year. The work done by the consultants last year cost money, but are likely transferable to the PEA.
Additional savings are announced today from effectively cutting the drilling campaign by 40%.
Whilst I certainly wouldn’t want company to depart with Valore shares they own 25m which can be sold with Valore insiders given first right off refusal.
I have posted before production is highly likely to be trial mining licence only at first. 300k tonnes per annum. Likely to be just a dig, crush and sort operation in country. Material then transported for processing. Link below shows this method for a 50/50 JV between the Aussie miner and Chinese processor.
https://wcsecure.weblink.com.au/pdf/NMT/02194863.pdf
As you are also no doubt aware the BOD/insiders own 73%. They are not going to do a crappy raise at this level when next step isfind partner (really wouldn’t be surprised if tentative discussions haven’t already taken place) and bring in income to avoid further equity dilution (at least at company level).
DD, out of interest, just so I can establish if I should pay any attention to you, do you actually know what it costs to put together a JORC compliant PEA? and can you also share with us your financial calculations, that are giving you cause for concern?, ..GL S
Btw - the interim financial reports are due fairly soon from the company, so you should have a more up to date understanding in the next few weeks.
Good to note team Jangada taking a very sensible approach to the current challenges and crisis. Also pleasing to note NO material disruption to the long term wider project. Also note the Platinum price...these low levels will not be around for ever..