Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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https://www.rns-pdf.londonstockexchange.com/rns/6971X_1-2021-5-5.pdf
We can all see the RNS pop-up, thank you.
Initial Drill Results from Hamersley Iron Project confirm Direct Shipping Ore mineralisation
Results include 13m @ 61.5 % Fe from 2m depth
Myavian. Behave. Max has been waiting for this a darn site longer than you and is equally excited. Leave him be or better still leave.
Grow up myavian and stop being a petty child, sometimes the RNS section here doesn't show as updated or later than other sites
"66m of Banded Iron Formation (BIF) intercepted in hole AM21RC001 027 with results pending"
I'm very interested in seeing those results!!
Direct shipping ore confirmation on first drills is very encouraging. Looking forward to future results gla
Well well I’m certainly looking forward to what the share price does today, and through May as we get the rest of the results!
Now we know why the 1M buys were coming through thick & fast last week!
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."
Nice RNS from Bill. Given enough information for now. We don't want another 3p spike, just steady news and steady rise.
GLA?
cant wait for his interview :)
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
Im happy you have returned BishopBasher, I enjoy your posts :-)
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.
Bishop and Amsterdam next year:)
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.
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.
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
@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%.
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.
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
Napthman1 - 36 more hole results month of may - only way is up knew that anyway
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
60% + is the very highest grade so 56% mentioned is still very good high grade material