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Wolfy81
Naphman has a point. Your posts come over as a very unsubtle deramp. If you are invested then could you post the positives that you so far forgot to mention.
Naphman - I do own but to be fair that’s none your business. And when you say ‘all’ who are you talking all about? Is it the Alien metal cult on here?
Smart play - yeah 3 months late rns and not even results. So Smart
Trolls you say? You mean facts. News expected late Feb. We get not half the results start of May oh and with no information where the rest is.
Everyone again jumping on the Alien bandwagon. Keep it real here. Read to the bit of the rns that states about the next steps below - they now have new areas due to explore thanks for to there access haha. Interpreted means we have more money to throw down drain soon where give you a shout when required haha I really hope I’m wrong and am
Fully invested here - but I have a bad gut feeling about this but time will tell
As part of the next phase of work, the Company is planning for surface traverses and sampling of as yet untested part of the tenement as well as planning a next stage drilling program as it now has greater access to these new areas.
Golden rule - only invest if your 99.9% certain and happy with the company. Am not 99.9% certain with GGP
Bill's RNS this morning is a smart play - far better than leaving holders in the dark about any news which would give background de-rampers greater opportunity to build up a negative narrative against a company that is primed to increase in value over the next few months. Patience is a virtue and will reward those who are in at this point.
@trolls we are growing tired of you. Bill updated us to what he can with more news coming this month... he didn't give best of the results, he gave us what he has got back as per rns lol atleast read it before you post slime
Wolfy sell if you even own shares, do us all a favour
And title does say it all I’m in agreement with you there - initial results. Good shout
Thanks for the RNS update Max and for quoting nearly every part of it. If only they would release it in the public domain. Great news - 3 months delayed and not even half the results. Sounds like ‘best apples on top’ at the market. Been given best results of bad bunch I reckon. Market has reacted well though? Maybe they didn’t get the memo/rns. Another shoddy move with lack of news and builds less trust and leaves lots of questions unanswered.
@smiller, the tile of the RNS says it all:
"Initial Drill Results from Hamersley Iron Project confirm Direct Shipping Ore mineralisation
Results include 13m @ 61.5 % Fe from 2m depth"
66m of Banded Iron Formation (BIF) intercepted in hole AM21RC001 027 - results due in coming weeks.
I have a feeling Bill might plan a DSO operation using contractors, and fund it by selling off the Sirius Extension to Brockman Mining who are aggressively buying tenements adjacent to their Sirius Deposit.
60% + is the very highest grade so 56% mentioned is still very good high grade material
max tell me if i am wrong but DSO is 62%> , we really need the remaining drills to bring this average up, if you look at the data it would look like we below this DSO grade. Doesn't mean we aren't sitting on a good resource but the calculations and chat to date alwayas been about DSO on a truck or train which reduces costs . What's the plan if we below DSO
Napthman1 - 36 more hole results month of may - only way is up knew that anyway
HH. I, like you, was hoping for 60+ percent DSO. I don't know much, but I understood that to be the good stuff. However, the increasing price of Iron should see us get a JV partner. So it's all to the good!
ATB, FG
Very encouraging news at last. Numbers are much better than tweets so big credit to the team for releasing what they have to date. Looks like this is going to be a very thorough drill program with extremely decent iron ore resources proving the significant value of this resource. Is this the big FOR SALE sign in due course.
@Starbright - like you I'm no expert geologist so I am always interested in the views of others more knowledgeable types, but my take is that the good news is that all this seems to be very near surface drilling meaning you can "mine" it with little to no effort and so it all looks as if it might be economical to remove, but in terms of DSO I was kind of hoping for more grades above 60%.
i am learning the iron ore sector now but from the percentage of grades and the shallow or from surface mineralisation i would say very good 1st set of results very encouraging
We are really pleased with the success thus far from our maiden drilling program and are delighted to now be looking towards next stage work and planning. In addition to the known DSO grade iron ore at the Sirius Extension prospect, initial assay results confirm the existence of outcropping DSO grade mineralisation in initially identified ridges A to E. The program has also opened new highly prospective areas of the tenement previously not explored and identified prospective further DSO grade potential.
As always with mining companies, it is very hard for non-mining-experts (like me) to parse survey/drilling results like this. I'm very comfortable decoding funding RNS and picking apart valuations etc, but have no objective way of determining whether results like these are good or bad. Much less determining how they might impact the value of the company, or its SP in the short term.
So I am hopeful that some of the more experienced LSE posters will offer some insight on this here for discussion today. One observation I will make is that a large component of the SOTP valuation discussed here previously rests on this project, so the results are important.
Bishop and Amsterdam next year:)
well we've been waiting a long while for any news and we do now have something to talk about, but I'm of the mindset that with so much more data outstanding, the numbers we have so far are more of a vague hint than a clear indicator of what is to come. We already knew there was plenty of iron ore there with a lot of potential for high grade ore, the question was always how much of it is DSO grade.
Would anybody be brave enough to amend a possible valuation of our iron ore based upon what we have learned today?
For the time being I'll just stick to my plan of holding these shares and seeing where we end up a few years from now.
Im happy you have returned BishopBasher, I enjoy your posts :-)
I would like to believe that the news flow will be more steady from here on. May will indeed be an interesting month and I’m happy to have returned.
GLA
cant wait for his interview :)
Nice RNS from Bill. Given enough information for now. We don't want another 3p spike, just steady news and steady rise.
GLA?
We received just 17 out of 53 assay results.
The remaining expected in coming weeks.
"Significantly, the majority of assays awaited are from holes which have had significant BIF intercepts, up to 55m
widths and are expected to add significant potential to the project potential."