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Https://pib.gov.in/PressReleseDetail.aspx?PRID=1984942
This might be the list.
Standard critical minerals.graphite, rre, nickel, Molybdenum, lithium and some others.
Not surprised they have issues with this. Graphite , RRE and lithium have been hammered recently. China controls them and they can keep the price low to make it uneconimic for others to make supply chains.
I suppose it depends on the comodities. Rare earths are not the easiest to process and prices are low.
Normally gold is not considered a critical mineral, although gold could be a strategic one.
They seem to indicate china is main supplier for items with low interest so i think we are ok.
Regardless, we need to crack on and start the process
Https://www.business-standard.com/industry/news/india-s-critical-and-strategic-mineral-auctions-face-three-month-delay-124040801011_1.html
Looks like lack of interest across the board in India on loads of auctions..
Agreed we need to push on with it.
India has an equivalent Civil Servive ..surely because of the legal aspect they would be dealing with it?
Just the election.
The action feels like a side show. Hope we just get on with it
I wonder if nobody fancied bidding with the pending litigation?..twists & turns going on for sure
I just want the clock to start ticking down and go to next stage.
Hopefully the auction is just a sideshow. We know how to value the deposit historically
Well, that's hugely frustrating. Can well and truly kicked down the road until after the election.
While this does provide additional opportunity for amicable resolution, I just don't see that happening in practice.
NoA at the earliest opportunity please (increasingly likely to be after June 1st).
Can’t find anything there @deck, but this has changed and now says June/july 2024
https://mines.gov.in/webportal/content/ongoingnit
Sorry if this has been covered..
Google e auction India, I am on the hop so not had chance to look into the site.
Get the resources confirmed and bag a for sale sign in the ground
Or off course
I think the reasons behind (have a look at news on dfr gold website) they recently restructured, plus they & us have a bigger slice of the pie in respective resources.
Kalaka is bordered by I think 8oz & 4 oz mines..our geologists are skilled guys.
Low grade, low cost mining in kalaka.
Either way bhukia claim pans out..we will have either instant funds, or decent uplift in sp to raise capital to invest & prosper from
Your point i suppose is excellent if we can hit an economic resource
I assumed because it is low grade we might need say 2 or 3moz or more to be found. And i assumed lots of drilling is needed, as we might have to hit multiple targets
Probably a great question for the CEO. To understand the cost benefit rational.
Maybe the geology points to a target resource that is easy to find. My gut is saying that the other side gave it up for unproven assets that it is unlikely.
The only benefit of diluting for exploration. Is to protect the downside, by making 7p now backed by assets. The cost is to sacrafice alot of upside.
You might also argue a long term benefit as we have a mine to develop if we win the case.
My personal view is that don't dilute. The money you save from diluting can then be spent later to pick and choose a lovely project. You could have 30m extra to pay.
Yes not a bad option.
I remember some time ago trying to do some research on the 20% jv.
Don't recall I found anything..I was looking for boots on the ground locally, equipment so on so forth.
Deffo think they need to drill that northern bit as a starter.
Good spot deck - have given them a follow.
Going back to Kalaka, your initial post and the strategy for it. Cash could be raised and invested in turning it into a lower/mid-tier mine. If they do nothing more than prove up the resource and sell it on cheaply - say, $15/oz in ground - the value to PAT is still double its current MCap. Either way, there's value to be had and money to be made on this asset.
@MinesMinIndia
Only just realised Indias ministry of Mines is on twitter ...maybe results will be announced there?
Spot on ejt..nailed it in one
I keep coming back to... we need that updated corporate presentation to know what the strategy is for each asset beyond Bhukia (which is outside of PAT'S control).
To be fair, what we don't really know is..our jv (20%) are a mining company.
We don't know ...yet..what tack (equipment) they can bring to the table.
There are counter arguments and i fully accept this is just my opinion.
We might drill and do really well.
But the rational.side tells me if we did get a massive windfall payment, our real power them is that we can choose to buy into the most exciting explorers or projects that are much less risky.
Bhukia is hitting gold already, no reason to dilute that to double up.
If we get the settlement we will be in a super strong position to choose which junior to work with
The point is about efficent capital allocation( notn
worry). If we fund say 4m usd for exploration via 20pct dilution. You just gave away 20pct of 800m g bp to dig some holes.
Will 4m usd give 160m gbp return? If it did is one of the most amazing drilling campaigns ever
Yes we can do this and make money, but we have to realise we make alot more if we do.not
Just a little confused Gallmat why you are worried...let's say we are awarded £800 million & by that time we had 250 million shares in circulation that's still worth £3.20 ...what's the concern?
I dont want to labour the point but our partner who had 40ct share in this and other assets cascades was trading at 8m.
I love the litigation here, and also would say i like the ceo. I am less keen on our other assets. All have potential to get to high value per oz. But you can see we might need to spend to do that and i am 100pct against it, unless we can split litigation and mining assets.