London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
i Metal Drills Significant Wide Intersections of Hydrothermal Alteration on Grid Zone 3 and Extends Drilling Beyond Planned Depth
Vancouver, BC - TheNewswire - November 5th, 2019 - iMetal Resources, Inc. (TSX.V: IMR) ("iMetal" or the "Company") is pleased to announce completion of an initial 752 meter NQ diamond drill hole on Grid Zone 3 on the Company's Gowganda West property. The project is located 20 km from Gowganda, Ontario and 90 km from Kirkland Lake, Ontario.
The first drill hole targeted a high priority high chargeability and high resistivity anomaly labeled as GZ3-04 that had been identified by the recently completed IP survey by Abitibi Geophysics, Inc. (See press release, October 4th, 2019). This IP anomaly underlies at depth, the Grid 3A and 3B surface showings that returned high grade grab samples (up to 56 g/t Au) and several high grade channel samples (up to 23.67 g/t over 0.30 m) (See press release February 6th, 2018) over the past 24 months.
The drill hole encountered strong and extensive alteration to the original target depth of 500 m and as a result the hole was extended to the full rig capacity of 752 m to the end of the hole.
The hole first intersected hydrothermal alteration from 160 m to 235 m, with ~75 meters of a meta-sedimentary sequence showing extensive silicification, and bleached pale to medium grey mudstone with trace to 3% fine grained disseminated pyrite sulphide mineralization.
The hole then encountered a second, much larger section of hydrothermal alteration from 235 to 752 meters in a meta-sedimentary sequence with a conformable contact to a polymictic pebble conglomerate. This conglomerate exhibits evidence of hydrothermal alteration with a number of sections displaying very strong pervasive replacement silicification and also contains local fine-grained disseminated trace to 3% pyrite in the matrix.
This drill hole intersected 517 meters (from 235 m to 752 m in downhole core length) of conglomerate that carries red jasper as grit, granules and small pebbles, that is consistent with the Archean aged Indian Lake Group of the Porcupine Assemblage.
The significance of this strong siliceous alteration in addition to the presence of disseminated pyrite (trace to 3%) that cuts through both the mudstone and conglomerate lithologies is that it correlates well with the IP anomalous signatures of high resistivity coupled with the high chargeability as presented in the Abitibi Geophysics Inc. (See press release October 4th, 2019) report.
The Gowganda West, Ontario project consists of 147.5 km2 contiguous claims, with favourable metasedimentary lithologies that extend north-south in excess of 8 km long and 3 km wide on the property. The large scale of this highly prospective exploration ground makes the Gowganda West project a potentially key emerging gold basin in the Abitibi greenstone belt.
Confirmation of buyback and we see a few million bought and a few million sold uncanny eh !
I see Mark Potter appointed to the board of Trident Resources plc this morning. Perhaps something in the works there?
Yes be very interesting to see what happens with share sales/buys till then eh !
Meeting on Wednesday - expecting authority for buyback to be granted - then lets see what happens :)
Becoming a substantial holder
Metal Tiger Plc
Aurelius Announces Completion of $150,000 Financing
TORONTO, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) announces that it completed a non-brokered placement offering (the “Offering”) of 3,000,000 common share units (“Common Share Units”) at a price of $0.05 per Common Share Unit for aggregate gross proceeds of $150,000.
Each Common Share Unit consists of one common share of the Company (a “Common Share”) and one-common share warrant (“Common Share Warrant”), with each warrant entitling the holder thereof to acquire one Common Share at a price of $0.06 per Common Share for a period of two years following the closing of the Offering.
The net proceeds from the issuance of the Common Share Units will be used for general corporate purposes. The Company did not pay any commission in respect of this financing.
The Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange.
The securities issued in connection with the offering are subject to a standard four month hold period expiring March 2, 2020.
Certain directors and officers of the Company participated in the Offering by acquiring an aggregate of 2,000,000 Common Share Units.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will be not be registered under the United States Securities Act of 1933 as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act).
Aurelius is a well-positioned gold exploration company focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend. In 2018, Ontario converted its manual system of ground and paper staking and maintaining unpatented mining claims to an online system. All active, unpatented claims were converted from their legally defined location to a cell-based provincial grid. The Mikwam Property is comprised of 9 legacy claims consisting of 69 Cell Claims including 29 Single Cell Mining Claims (“SCMCs”) and 40 Boundary Cell Mining Claims (“BCMCs”). The Lipton Property is now comprised of 57 legacy claims consisting of 721 Cell Claims, 563 SCMCs, 143 BCMCs, and 30 “internal” and overlapping (i.e., two occupying the same space) More...... https://t.co/iaW98Zabjy?amp=1
#MTR #SFR #KML #Cobre #GGP #THR #TshukuduExploration @Vetaresources
#PAM #SAE #AUL #Kemco +Tally + Sita Cap #IMR #Spain @me
Adriatic raises cash and looks at London listing
PERTH (miningweekly.com) – ASX-listed Adriatic Metals has completed a A$25-million institutional placement, announcing on Wednesday plans for a secondary listing on the London Stock Exchange (LSE) before the end of the year.
The share placement will be conducted in two tranches to institutional investors and existing shareholder Sandfire Resources, with 25-million new chess depository interests to be priced at A$1 each.
BHP says Escondida copper mine in Chile operating at 'reduced rate'
SANTIAGO – BHP said its Escondida copper mine, the world's largest, was operating at a "reduced rate" after union workers walked off the job for part of the day on Tuesday in solidarity with the anti-government protest movement across Chile.
Chile, the world's top copper producer, has long been one of the region's most prosperous and stable free-market economies. But entrenched inequality and spiraling costs of living ignited massive, and sometimes violent, protests last week.
Riots, arson and looting have led to at least 18 deaths, resulted in more than 7 000 arrests and caused upwards of $1.4-billion in losses to Chilean businesses.
To watch Creamer Media's latest video reports, click here
A perfect price for a share buy back. Many AIM investors selling stocks to jump om board the EUR bandwagon. Have no fear, MTR will be back with news on several fronts. Ignore the noise as ever.
So the MOD sale has happened and we now have a liquid asset in Sandfire stock. And the promise of dividends and net smelter royalty down the line. All supposedly trigger events to move the share price back up to or above NAV. But it hasn't happened and we are still at 1.25p as at today. If the value of MTR isn't recognised now, when will it be ?
Is that what you call a Highly recommended binning ?
Junior Miner In Prolific Mining District May Have Found A Large Mineral Discovery
FEATURED COMPANY / IMETAL RESOURCES INC.
CK your BB contributions are pathetic. Single sentence diatribes. You never engage. Clearly employed by the low life Market Makers that short AIM stock. At some point value will out.
Another rambling and moronic comment!
Decisions ,Decisions ! Financing Share buyback ! Admin costs ! Investment s ! Drilling !
Yeb, the GM is on the 06/11/19
Risky play, surely?
Sandfire Resources America completes an Updated Mineral Resource Estimate for the Johnny Lee Deposit, Black Butte Copper
/EIN News/ -- Key Points:
The Johnny Lee deposit has a Measured and Indicated Mineral Resource of 10.9 million tonnes (Mt) at an average copper grade of 2.9% for 311 thousand tonnes (kt) of contained copper (Cu) at a 1.0 % Cu cut-off grade;
The Johnny Lee deposit has an Inferred Mineral Resource of 2.7 Mt at an average copper grade of 3.0% for 80 kt of contained Cu at a 1.0 % Cu cut-off grade;
Forty-eight diamond drillholes completed by Sandfire Resources America have been used to update the Mineral Resource estimate for the Johnny Lee deposit;
Metallurgical testing of the Johnny Lee deposit has been integrated with systematic mineralogy to develop a copper recovery model;
Updated copper cut-off grade of 1.0 % Cu based upon updated recovery studies and price assumptions;
The Mineral Resource update for the Johnny Lee Deposit excludes the Lowry Deposit. Mineral Resources for the Lowry Deposit remain unchanged and current as of the effective date listed in the Preliminary Economic Assessment, July 12, 2013.
WHITE SULPHUR SPRINGS, Montana, Oct. 25, 2019 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” or the “Company”, Trading symbols- TSX.V:SFR and OTCQB:SRAFF) is pleased to provide the following announcement related to an updated Mineral Resource estimate for the Black Butte Copper Project, a proposed underground mine located in Montana, USA.
CEO and VP of Project Development Rob Scargill stated: “The updated Mineral Resource estimate, supported by substantial new drill data and geometallurgical investigation, allows project evaluation to proceed using data in which we have an increased level of confidence that will underpin upcoming studies on the Black Butte Copper Project.”
The updated Mineral Resource statement for the Johnny Lee Deposit is summarized in Table 1.
This Mineral Resource statement is based upon the Preliminary Economic Assessment (effective date: July 12, 2013) further supported by additional drilling, analyses, geological modeling, and extensive metallurgical studies to provide updated recoveries.
Black Butte Copper Progress Update
/EIN News/ -- WHITE SULPHUR SPRINGS, Mont., Oct. 25, 2019 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. (“Sandfire America” or the “Company” TSX.V:SFR and OTCQB:SRAFF) is pleased to provide the following update related to progress at the Black Butte Copper underground project in Montana.
The Montana Department of Environmental Quality (MDEQ) and the Department of Natural Resources & Conservation (MDNRC) recently informed the Company of a matter regarding the overlap between their respective areas of oversight. The Company has developed a robust plan to address this matter that is satisfactory and creates a pathway forward which includes further assurances on the water right modification application which has been in progress since early 2019. The Company is confident that it has addressed the agencies’ concerns. In their fall update, the MDEQ stated, “DEQ is in the final stages of its review and, barring unforeseen issues, anticipates publishing the Final EIS in the final quarter of 2019.”
CEO and VP of Project Development Rob Scargill stated, “Whilst this short delay is frustrating to all concerned, we are confident that addressing these matters now will deliver a more robust operating permit and mining operation. The Company and our stakeholders continue to be committed to permitting and building a showcase underground copper mine in Meagher County.”
Bankable Feasibility Study
All the technical studies have now been completed for the Black Butte Project Feasibility Study which commenced in October 2018. An updated Mineral Resource has been published and will be used as the foundation for the Feasibility Study. GR Engineering Services, SRK Consulting and others are completing documentation of the technical sections. The study will be finalized once the Final EIS is released to ensure that the designs and financial modelling are consistent with the permit requirements.
Following a review of financing options by the Non-Executive Independent Directors, the Company has agreed to an unsecured loan facility with our majority shareholder, Sandfire Resources NL, to provide US$3 million to cover expenditures between now and the release of the Feasibility Study. The funds will be used for permitting, studies and preparatory work for pre-construction earthworks for the portal pad and environmental protection ponds. On release of the Feasibility Study, the Board will consider their mid-term and long-term financing options.
Ty for that
It is underexplored and has "fantastic upside" beyond the T3 development, which could have a final investment decision next year.
"T3 is well on foot, and we took some risks to get on with the optimisation studies pre-acquisition. We are targeting FID in the first half of 2020, but we also have effective control of 250km of strike of one of the undiscovered significant regional copper belts in the world," he said.
In Montana, where Sandfire owns 75% of Black Butte, one of the world's highest-grade undeveloped copper projects, the project is in the final stages of permitting.
It has completed the public consultation period with no major changes required. Work on the feasibility study, a resource update and a maiden reserves statement continue.
Sandfire, which was valued at A$964 million this week based on a share price of $6.05, will use some of its $106 million net profit for the last financial year, from revenue of $592 million, to pay a 16c dividend next month.
It had cash on hand of some $260 million
Sandfire plans stronger finish to year Oct 25, 2019
Sandfire Resources’ bid to become a global player has stormed ahead with the copper-gold producer closing out its purchase of Botswana-focused MOD Resources and managing director Karl Simich announcing a plan to accelerate exploration with an additional US$10-12 million budget just for the Kalahari Copper Belt.
That's in addition to the group's 2019-20 spend of $30 million across its Australia and US holdings, with the former looking for a repeat of the miner's highly profitable DeGrussa copper-gold mine in Western Australia's Bryah Basin.
Simich said the addition of MOD's advanced T3 copper-silver deposit was a key plank in the plan to build a diversified base metals company, as the company looked at advances in Botswana and the US as kicking off what could be the company's most successful period.
The September quarter was production of 16,730 tonnes copper and 8,647 ounces gold at C1 cash costs of 87c, up from 75c in the June quarter, with the company seeing an impact on blending crown pillar ore from DeGrussa, reducing recoveries and extreme variability in the Monty orebody.
Since developing its flagship DeGrussa mine, Sandfire had delivered 30 quarters of "successful and profitable" operations, Simich said, and after a softer first half of it was building into a stronger second half in terms of production, with tightened guidance of 70,000-72,0000t copper and 38,000-40,000oz gold at C1 cash costs between 90-95c to reflect what Sandfire describes as minor issues it can deal with.
Sales were a payable 16,948t and 9,131oz across seven completed shipments.
DeGrussa produced 349,675t of ore grading 4%, while Monty produced 50,939t grading 3.7%, with the grades lower than expected for the quarter, but should reconcile with expectations for the full year.
Monty is a high-grade mine that is highly variable, which causes short-term planning issues, but Sandfire says it is confident of overcoming those issues, and in its resource estimates.
Simich said the company remained an aggressive Australian explorer and he would be "surprised" if a new mine discovery wasn't made.
It is investing heavily in sampling, surveys and first-pass aircore drilling to help focus its search within a 6,940sq.km area covering 90km of strike, although drilling in the quarter largely turned up little of interest.
The company's entry into 11,700sq.km of Botswana also has Simich "pretty excited".
Agree good luck to all real investors
Is imminent and I’m sure when they announce further news from some of our other assets early doors 2020, the SP will at last start to represent fair value and increase awareness for new investors. As for Cash- - - -, we won’t be hearing from him anytime soon. GL to all of us actual STOCK HOLDERS in MTR for 2019/2020.
Here here DR. Nothing but sound bites and cynical double speak!