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It appears that I'm going to lose ÂŁ32k here and, unfortunately, I'm not likely to be the only one. Is it worth me selling before Mr. Coetzee brings the curtain down on this mining misadventure? Not really. But I can't see how he'll be able to raise any funds on the, potential, promise of some Lithium. Mr Coetzee well and truly stuffed-up with Blyvoor, but we can't blame him for Haneti.
We tried, we failed. Hopefully, it's a case of all us PI's being down, but not out!
All the best, FG
Lambo222
You are absolutely spot on . Delays and there is always something to hide. The more I started to think about Christian leaving, the more doubtful I was getting particularly in the last couple of days. Hence my earlier note today at 13.00
Was obvious really, huge delays are never good news as I said earlier sorry to all holders, shafted again
Paul Johnson words it better :
"The Joint Venture has now completed its first diamond drill programme at Haneti, a district scale exploration opportunity in Tanzania.
Drilling has confirmed the presence of nickel albeit not as yet in economically significant intersections. However with the information from the programme we can now undertake more advanced targeting for next stage exploration. We are targeting the discovery of economic nickel with the work programme going forward.
The completion of this programme also enables the JV to re-engage with potential project partners to discuss the findings and next steps in further detail.
The work undertaken was extended to include an assessment of lithium prospectivity which was perhaps less of a focus in the past. The results of this work have confirmed significant lithium potential and the JV is now implementing a lithium consolidation strategy to build our interests in this area.
At this important time in the advancement of Haneti, Power Metal is working with our JV partners Katoro Gold to undertake expedited work programmes and move the Haneti project forward."
Are these results significant? :
· Strong lithium mineralisation is present, most likely in the form of lepidolite/spodumene mineralisation, with two of the five rock samples returning >10,000ppm Li.
· The tantalum (Ta) values in two samples (2,608ppm and 1,354ppm) are exceptionally high, considering that a value of around 250ppm would be of economic interest.
· The Ta:Nb (niobium) ratio is favourable with Ta being much more abundant, representing the more valuable member of the two.
Based on the results, it is suggested that the Babayu lithium prospect should be further followed up on and the consistency of the high concentrations of tantalum and lithium should be evaluated further.
Thanks in advance.
GL.
Question is : Is Haneti done in or did they just drill in the wrong place?
Also is there true potential with the Lithium mentioned?
Any budding geologists please feel free to enlighten me thanks.
GL.
Sorry to see lost PI money here. But I have been saying for a little while the risk profile for this share with everything that has gone one was sky high. A wild cat drill of three holes to 900m in the middle of nowhere. PI should learn lessons. The trick is not to lose money in the AIM - any fool can make money.
Absolutely! The same happened with Blyvoor. Of course they knew
Large sells went through before the RNS. Someone knew?
******!
GL.
Andysmi
I am absolutely gutted here as big time in red. Just at 13.00 Iwrote about two pointers which had started to bother me and this RNS gets released. I will be pulling out of all exploration companies after this. That's me done
Another failure from Louis the reverse alchemist
Sorry professor but it’s hard to be optimistic when I’m 75% in red
Or there was none and he was redundant
The question which is going on in my mind, and I hope someone can contribute to, is when the Heneti drill results were announced, the RNS from LC was very scant whilst the RNS from our JV partner, Paul, was more detailed to the extent even stating that the drill results showed the expected geological model (or something to that effect).
The other question in my mind is why did Christian Schaffalitzky, who was working as a consultant Geologist for Katoro, gave his resignation? Was he not required anymore once LC came to know that the area is full of Nickel/Gold/PGM and CS became surplus to requirement.
So how come they didn’t release the full results from the last drill campaign?
If they had any price sensitive news they would have realesed it immediately as all companies are required under the stock market rules.
I think it's the opposite
Sorry to all holders, if they had good results they would be shouting it from the rooftops, probs hit 0.3p if it’s a write off imo then not much left
I’m less confident now. It is well known this is a leaky share so if there were good news the share price would have gone up
If that's the case then I think it has to be good news that they are holding onto as might be forming strategy for the next leg up and putting everything in one RNS (LC is saving every penny).
We know the results are in his possession. What we don't know is why he's not releasing them?
Unwise 'the very wise ' I agree
He should resign over blyvoor - considering options my arse. Written the costs off and wont admit he balls'd up
Those Haneti results should be back by now - again silence - an its not because elon musk is conducting fantasy drilling
Tombi1 - agreed
That’s it , it doesn’t matter how bad LC is if this is a success it could be very good for the share price indeed , the potential is very high
Yep that'll be it, too busy to reply to shareholders!
I want this to come good, but let's not sugar coat it. Louis is completely hopeless and doesn't give a hoot about PI's.
Strike length of 60KM - The big players must be rolling all over LC at the moment - that is why he does not have time to reply to our emails