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Hey Ageos
Recently contacted BM and he’s not invested here, although stands by his claims/conclusion. Came back along the lines of Waymar/Orosur were not advertisers... which I guess just means they weren’t willing to pay him to promote the company - could be seen as a positive really and doesn’t back up Webb’s statements of PnD on a corporate level.
As to the reasons I’m in OMI, I believe there’s great value here. At the time the NM deal was made the SP was around 1.8p and NM we’re happy to pay a premium of 5.4p p/s to purchase 20% of the company alongside the Strategic Agreement that was also put in place back then. They didn’t have to do this and no doubt wouldn’t have done so if “they” also didn’t see value.
As for basing investment decisions on verifiable data, that is something we don’t currently have a lot of and I’d like to think that my investment here is ahead of the curve in that regard on the data we do have. I’m very much looking forward to an RNS outlining the next steps of phase 1 as that’ll be a key driver regarding SP and give us a new base to work from. Currently that base has to be 5.4p and the clock in that regard is ticking, NM still have $10m to spend on exploration within the next 2 years on phase 1.
May sound a little rampy but it’s not aimed that way, I’d rather be in for a few pence now rather than scrambling to get in as cheap/quick as possible later on. Once verifiable data starts coming I’d kick myself for overlooking the obvious this early on. Will certainly look forward to your detailed analysis once the ball starts rolling
Atb - PP
On personal level, I don't give much importance to Bob or his view and I don't encourage to trust someone who have not invested here for any reason. I'm reasonably happy to see NM's contractual commitment is still intact plus they're paying to maintain earn-in rights so far. IMO, this region has potential, CG nearby was sold for Canadian 1.4billion and our market cap is low, float is tight, with the board changes and from what I know from our CEO, I take that to higher level above the rest at this moment.
In other words, I value it more for my investment decisions above the others.
Pitterpatter, the second paragraph of my 31.05.2020 post states why it is NOT possible to extrapolate from 0.5Moz Au at APTA to 500MozAu for ANZA. If you wish to appreciate precisely why, you will need to understand a great deal about the genesis of different types of mineral deposits and both the structural geology and geological history of the ANZA area within its regional context, most of which is covered by previous posts.
Newmont's interest will be based on the continuity of the Cauca structural trend N-S through ANZA and surface evidence of possible CBM(Au) [Carbonate Base Metal Gold] vein systems and porphyritic float indicative of intrusive porphyry at depth. Air-borne surveys will also have contributed evidence, as is detailed in my 18.10.2018 post.
If the 'Bob' you refer to in your second post is Bob Moriarty, then you are citing a dubious source often quoted on an alternative 'chat-site', thankfully less so here. His 2013 claim of 4MozAu at APTA, posted here by 'smacks' on 22.05.2020 also without source attribution, is a useful reminder of how superficial understanding [as revealed by his method of calculation] leads to seriously wrong conclusions, just as your “lit up like a Christmas tree” quote does likewise. Surely you wish to base your investment decisions on verifiable evidence wherever possible, and not on what are clearly the self-serving opinion of others. Where you place my contributions within that spectrum is of course your choice.
AGEOS
Newmont clearly have inside knowledge regarding this whole area... Follow the money (grandiose).
"lit up like a Christmas Tree"
After all, NM must be so dum to invest in here and paying for earn-in rights.
Be careful someone may accuse of you of ramping for being so "negative" :)
Realistically, only 10% of the total acreage needs to come back similar or better and Newmont will JV.
From Bob’s notes the whole place lit up like a Christmas Tree.
Thanks Ageos
From that I translated 1% of Anza (apta) estimated 500k ounces of gold. So if the rest continues the same across the remainder then we are sat on the mother lode or 500m ounces total. Explains Newmont position then. If only right... :)
So next news incoming is CEO change - News expected within 4 weeks
At the time Miranda was also going through a heavy period of dilution and has since consolidated its shares and changed to Outcrop Gold. It seems Newmont was only interested in Lyra, not the rest of Miranda’s projects. After the initial earn in it they could spin off Lyra into a separate co. See details:
Upon successful completion of the Initial Earn-In, Newmont and Miranda shall form a joint venture mining company whereby Newmont shall have an initial 51% interest and Miranda shall have a 49% interest. Newmont shall than have the right to earn an additional 19% interest, for an aggregate 70% interest in the joint venture, by funding an additional US$7,000,000 in qualifying expenditures over the course of the subsequent four years (the “Second Earn-In”).
Pitterpatter re your enquiry of Friday, presumably you are aware that apart from 5 exploratory drills at the Charrascala target (RNS 07.06.2018) all drills within the ANZA acreage have been confined to the APTA target. The OMI website currently cites only the Jan 2017 MDA resource estimation for APTA, (which was based on 53 legacy drill-cores), as 1.6-2.3M tonnes at 3.2-3.7g/t Au which at the highest grade translates into 165,000-274,000oz. Add to that the 18 holes drilled in 2017/18 and the resource estimate can be increased to c500,000oz Au (ref my post 12.10.2018) an estimation subsequently 'confirmed' by Outcrop Gold (ref website/projects/oribella/initial exploration work and model ) as “plus 0.5M oz Au”.
As the APTA estimate applies to less than 1% of the total ANZA acreage and the mineralization appears to be confined to a SSW-NNE APTA-Jesuitas lineation, it cannot be theoretically extrapolated to the rest of the ANZA acreage. It is therefore not possible to justify any “personal view on the amount of gold ANZA could potentially hold off the back of the current drills to date”, which was your first question. The evidence on which to base such an estimation simply doesn't exist. Newmont's involvement of course provides some reassurance that such evidence may be forthcoming with further scout drilling.
As to why Newmont do not have a share holding in Outcrop but do so in OMI, that may reflect the differing financial status and business strategy of the two junior companies at the time of the joint-agreement negotiations, OMI being in dire need of the $2M cash ($1.1m cash balance and $14.6m liabilities at 31.08.2018) and Outcrop (Miranda) not or less so (CD$200,414 cash balance 31.08.2018 with private placing for CD$1.5m in progress). The Outcrop (Miranda) joint venture business model to fund project exploration, to which their Agreement with Newmont conformed, is confirmed in the MDA (Management Discussion and Analysis) for year ended 31.08.2018, filed on SEDAR.
Hope that answers your questions satisfactorily.
AGEOS.
Hey Aegeos
You appear to be very technically minded. What’s your personal view on the amount of gold Anza could potentially hold off the back of all current drills to date ?
Had a look at the Outcorp deal and it appears that Newmont does not have a direct stake in Outcorp unlike the set up they have here. Looks like more of a GGP type scenario over there vs their 20% skin in the game @5.4p base deal here with OMI.
Why do you suspect they’d enter in that kind of agreement with OMI, directly injecting cash from the get go for shares in the company also but wouldn’t do the same with Outcorp under similar terms.
Look forward to hearing your views, have a good weekend. PP
Those who have followed Newmont's wider interests in the region will know that on July 31st 2018, coincidental with the OMI ANZA deal, Newmont signed a similar Exploration Agreement with Miranda Gold regarding the Lyra Project, a 6100 hectare area 6-10km due east of the Buritica Project and c50km NNE of ANZA.
In a 10.03.2019 post enlarging in detail on this, I noted that in a SEDAR-filed Material Change Report, under Outcrop Gold Corp (=Miranda Gold) the term “Lyra Project” had morphed to include the previously named Pantagora area thus now constituting 54,893 hectares including 14 Concessions incorporating most of the area between Buritica and ANZA west of the Cauca river. This includes 25km of the N-S Tonusco Fault system which is inferred to have been the feeder channel for the Buritica vein system. I also mentioned that Newmont had scheduled a BLEG (Bulk Leach Extractable Gold) sediment survey for the area and speculated that a DSG (Deep Sensing Geochemistry) survey might also be undertaken.
Subsequently it was revealed that all field-activity in the area had been suspended due to security concerns and imposition of 'Force Majeure' regulations, a situation which persisted until November 2019 when exploration was resumed. No information forthcoming on whether this also applied to the ANZA region.
Of the information released by Outcrop Gold to date, it is note-worthy that 4 SGA (Stream Sediment Gold Anomalies) have been identified in the southernmost area, within 5-10km of the areas which constitute the La Cejita SGA ANZA target and bounded by the Tonusco and Mistrato Faults.
It is worth bearing in mind that “upon successful conversion of key applications to Concession contracts, Newmont can elect to earn into the Lyra project” with minimum $3m expenditure within 4 years to acquire 51% of a joint-venture company, and an additional $7m within a further 4 years for an aggregate 70% interest. Eric Sprott, the billionaire 'gold guru' acquired an initial $1m stake in Outcrop in Feb 2020 but apparently on the strength of the recent Santa Ana silver project (W-Central Colombia) drill results. Lyra, it appears, is yet another project awaiting Concession application resolution before assessment can proceed beyond the Exploration phase of air-borne survey and surface geochem and rock-chip sampling. In the meantime Outcrop are concentrating on their more advanced exploration projects at Santa Ana, and at Cauca and Mallama in the SW.
Outcrop Gold are also owners of the Oribella project adjacent to OMI's APTA discovery, a 20,000 hectare interest, of one exploration license and several Concession applications, with a single SGA (Cibeles) ready for initial drill testing and for which they are seeking a funding exploration partner. Since my 19.12.2018 post introducing Oribella, more information has been added to the company website Oribella - OutCrop Gold https//outcropgoldcorp.com/oribella/ for those interested.
AGEOS