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I thought the same lol if bhp drag out the negotiating the copper price rises and they gain from sales!!
There isn’t enough copper capacity on the horizon for the next couple of years. Once this production capacity is lost, you can’t get it back, this will only increase prices further.
Crazy flip side is, BHP will increase its value by not increasing wages, so it makes sense to go into battle with union (for a bit anyway)
Could see copper price rising this week.
Anyone invested who is unsure about the Africa assets needs to take time to read that research note
Id forgotten all about it. Kudos for reflagging…. Very opportune in timing givem where the attention is presently by and large.
Salivating with excitement overall for coming news period in h2
I thought our existing JORC was only inferred at the moment. The work going on now is to improve scale and quality.
Im sure this has been posted before but the Align assessment of Xtract from last year.... before Bushranger lit the touchpaper. Point to note - share price estimate of 6.56p.... with the extra shares in issue now that would be down to 5.3p ..... but only includes Bushranger in the "Blue Sky" portion of projects (£15million).
Since then we have had the Bushranger "event" and improvements in most of the African concessions. You can see how undervalued we currently are at 4.3p.
Im hoping the second half of this year gives me that lurching pit of the stomach feeling when you've reached the end of the Bungee and you are suddenly accelerating upwards uncontrollably. GLA
http://www.alignresearch.co.uk/wp-content/uploads/2020/10/Xtract_Resources_Initiation_Align_Oct_2020.pdf
I would say inferred would be sufficient to see what AA wanted to do. But ultimately any resource would be infill drilled and have all the supporting evidence in place to get a JORC compliant revision worthy of third party valuation.
This appears to be the intention with reference to start infilling if grades are good.
I certainly don’t profess to be an expert but understanding is they would maximise the full potential of the existing resource inside the margin of the current pit model. A revised JORC would then underpin the work done to date.
Then, “if” recon holes in the adjacent anomalies show they have the potential to add to the open pit. Then the model will be updated and further infill drilling will be required and so on.
As for the amount of infill drilling then that is a grey area as only the lead geologist will understand the required intensity to be geologically confident.
I’m not a JORC expert, but reading this I don’t think inferred can be included in JORC value
http://www.jorc.org/docs/jorc_code_2012.pdf
Page 12/13 is the part that suggest this.
I think inferred can add value to the sale, but as the 2mt cut off is based on JORC compliance, it needs a better degree of certainty.
Would anyone on here know what classification our 2mt would need to be to trigger the buy back clause?
I have tried to research but haven't found anything.
Will it need to be a proven resource or would inferred be enough?
I would also like to know how much infill drilling will be needed for the various classifications.
Inferred Mineral Resource is the part of a mineral resource for which quantity, grade (or quality) and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be of limited or uncertain quality and it is also reliability.
Indicated resources are simply economic mineral occurrences that have been sampled (from locations such as outcrops, trenches, pits and drill holes) to a point where an estimate has been made, at a reasonable level of confidence, of their contained metal, grade, tonnage, shape, densities, physical characteristics.
Measured resources are indicated resources that have undergone enough further sampling that a 'competent person' (defined by the norms of the relevant mining code; usually a geologist) has declared them to be an acceptable estimate, at a high degree of confidence, of the grade (or quality), quantity, shape, densities, physical characteristics of the mineral occurrence.