George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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How to make a fortune from others on the AIM22 Oct 2022 10:49
This is the title of Colin Birds new book .
He is the master of disaster of others wealth .
Chapter 1
Stirring up hope
Includes bonus advice that says when you buy a few shares yourself with shareholder money it definitely pumps the share price up .
Chapter 2
Create illusion of interest in your project
Chapter 3
Keep drilling and taking fees
Chapter 4
Repeat
He is master of disaster .
Have a great weekend all .
Once Colin started talking about new projects it was always a red flag. But he does know Zambia well so that might be the best bet now. To me the cutoff is low and he previously mentioned the majors not being interested. A higher copper price would be useful now.
Jemgee, you seem to be a bit of a deramping nomad judging by your posting history.
I fear the share price is and will over react. Still a fair amount to play for here. Maybe not at the level we all hoped for. Still a decent return at these levels. This could well be for the nerves of steel that make the serious money from here on. It has always been spoken that this share is worth 5p without RC , therefore is this not at bargain basement levels. I may well top up if this drops further. More news to come. Gold income should be at full production very soon.
I wonder if Iceberg still hangs around? Certainly lots of info available now to digest.
My hope is that the gold news is coming in the next week or two.
So, at least we now know what we have, 512Mt @ 0.22% CuEq at a cut-off of 0.1% containing 1.1Mt of copper equivalent. With the higher grade, shallow and to near surface initial phase that will be mined first. Is now large enough to extend that recovery phase from initial 4-6 now up to 8 years, where end of phase 2 evaluation showed ‘further’ infill was planned in a potential phase 3 drill programme. So that is really encouraging.
The conceptual mining study will be very interesting as this forthcoming updated one could point to utilise central processing capability….
>>…the open pit mining study for the Bushranger Project will be updated to determine the economics of a 25Mtpa open pit mining operation, utilising the Mineral Resources at both the Racecourse and Ascot prospects
This could be a positive indication that Ascot is now expected to be shown to be amenable to open pit extraction as last drills, had recently just ‘upgraded’ the potential for this.
An $8 Billion resource that puts a range of between 10-20p for just RC. Having this updated JORC will underpin a range of values the market can place on BR along with the anticipated income from full production. The financial model will be eagerly awaited.
Don’t listen to the noise.
XTR acquired Bushranger for around £1m a couple of years ago which banked a 0.3MT CuEq resource for shareholders. Relative to today's MktCap that resource is basically worthless. Its never been the case that enlarging the resource by drilling will add value on a simple sliding scale. It will still be valueless if economics decide that having been proved to be larger it is still uneconomic. Today's approx 1mT could well be valueless. Its not that 2mT would be 20p so therefore 1mT must be 10p. Quite how Colin spins what we have when the dust settles will be interesting. Unless a buyer is willing to pay something (remember the original resource was basically valueless) I don't see how anything close to resembling some of values hoped for will materialise. A quick "tie a bow on it" sale was the implied route to deliver shareholder value and avoid the "death by a thousand drills". Maybe Colin has it all in hand to deliver shareholder value... but previous track record suggests otherwise. It was a good shout to gamble on trusting Colin regarding Bushranger but I am not surprised by what has materialised. I see limited downside from this lowly SP level but struggling now to see my 10p SP prediction any time soon.
CB does seem to refer to the amount of drilling that has been completed a small company like XTR a major accomplishment.
Hopefully there is enough in the remaining licenses to add to this, and get it sold at a reasonable price.
Let's be honest, most of us are here now as we thought we were close to a solid deal.
What really needs to happen now is that Bird, for once in his life is HONEST with shareholders. The company has carried out a **** tonne of drilling and this is what we have come up with.
The last thing that needs to happen now is another 20/30k drilling programme with minor upside just so Bird can try and save face....
For once in your life Colin, be honest with shareholders - Trigger the AA clause, get them out of the way, I doubt they will want it, and put it out on the open market!
Which ones on the Lachlan Fold, BCB? I’d be interested in having a look at them, as I like Australia as a mining friendly country.
Mayo the grades do not warrant the fuel used in the extraction.... Its dead in the water and Colin Kniows it...
would he you or anybody be interested in a project with those grades... FFS..,Get a grip...
Plenty more better propositions with better grades on the Lachlan fold.... for starters.
I have been hearing that for 2 yrs Michu....
Colin talks Bull****
Nothing wrong with 1.1mt in Aus open pit near infrastructure.
My current worst case on Africa Gold is 300k gbp to xtr a month from early next year bitcoinbuyer.. (my worst case on RC was 1.25 mt...)
Nothing has ever become of the £500k per month Gold income ... its all hear say.....
I like Colin ...but he is winging it here.... https://youtu.be/4o0r9unT4L4
Got to laugh.... My million shares.....Waiting for his ~Rabbit...the hat his worn though...
"No matter what spin the bulls here try to put on it The market has given its verdict"
Just 0.7% of holders have sold
You could buy at 3.1p two months ago before this news came out
3p to buy now
This is not a mass exodus as its all now crap
In the many years I've been in here I've understood CB to be good at following up a bad news RNS - when he eventually has to release such an RNS .. his pref is to bury as much of the bad as possible, granted - with a good news one... or, at very least, I'd offer that I have no recollection of three bad news RNS's on the bounce here.... so hopefully at least one of Ascot or Africa Gold has much - or some even - good news available to be RNS'd soon....
On Vox Markets now!
Aeris
I think you raise a fair point.
CB must have known that RC was 1.1M for some time, but in the most recent interviews he was not rowing back on his superlatives ie World class, tier 1 etc
He must have known that this result was not consistent with his narrative
CB had to release this news at some time before xmas (according to the half yearly RNS timescale) so now is as good as time s any.
Maybe FB news will be out soon so to act as cover for this??
Agreed, the old **** has been sitting on this info for months and continuind to BS the market.
Shameful....
No matter what spin the bulls here try to put on it The market has given its verdict
Cost more to get out the ground....
The team - and Colin - would have known a year ago from the drilling, visuals and assays that they had received that the contained copper would be much closer to 1 million tonnes than 2. 500 million tons of rock has been the mantra since last Christmas. They just needed to apply the grades (most of which they had so were able to do)
A year ago Colin was at great pains to tell Zak Mir that this was "not a 10p ore body"
I can't imagine this shock to the share price is in anticipation of a fundraise.
So why release this news now
That's why no one is interested, will got more to get out the ground with todays costs than the resource is worth...
Maybe in a couple of Millenia when its discovered again by aliens visiting.
Well that' s that then.... another project CB ????
IF CB decides to drill a 3rd campaign to take us to Q3 23 the best option is to sell up when it's announced and come back in 9 months as the SP won't move ( down probably if it does) until then.
I for one would do so, the only people who will be getting any jam in the interim would be the BOD.
CB said he expected to have the resource report done before Xmas 22 not 23.
To say I'm not surprised in the least says it all for me.