Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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“The Main Lode has provided most of the historic gold production at the Clogau-St David’s Gold Mine,
so finding a continuation of the Main Lode which has never previously been exploited would
constitute the most important discovery at the Mine in many decades. With that major objective in
mind, we are excited to get this next phase of our surface drilling programme underway.”
Pretty annoyed with today's RNS of no valuable information.
Over the last few months I've accumulated just over 7M shares, but i think i need to off load the last batch (c3M) i bought at 0.30 to reclaim just under break-even and invest elsewhere. HE1, for example, have done exceptionally well this morning and for my ISA.
Unfortunately the other half of my holdings in Alba were bought in the 0.40s, so i'm going to have to sit on them until my "loss" isn't too steep before i get out (if ever!).
I tip my hat to GF, he can spin a fine tale.
@TullyCrow - to make the processing plant more effective...
Would you rather process fantastic quality stuff and miss out on a load of gold because they didn't test and maximise the efficiency of the processing plant?
Not too impressed by todays RNS. Has the look of more jam tomorrow...I have to ask the question, if the company isn't expecting good grades off current samples, what is the point of carrying on doing it? Why not concentrate on the new drills and abandon the current one?
He is simply buying time imo, can't wait to see the next podcast, assuming there is one of course. The time it has took to process just half of the sample is slow to put it mildly. Market told us that the news from Wales wasn't good, and once again it is proved right. Wish I had listened.. Can safely put these on the back burner for a few months.
Re bulk samples. There was a fair amount of emphasis given to the bulk samples last year.
Along with the processing plant and the fact they had a licence to sell any processed gold.
Now they are trying to dumb down the importance?
this is exactly what you want to hear from an exploration project. i guess some of you dont understand what the rns is actually saying?
jacknose, I agree, I have been adding at these levels. ATB
It’s not a bad RNS, it’s an update. Yes we wanted assay results from the bulk samples, but predominantly we just wanted to hear what’s going on, it has been quiet for too long regarding clogau.
They are an exploration company and that is what they have been doing, and are continuing to do. Even though the processing plant is relatively small, it still requires some dialling in and this has taken time, as well as perhaps learning to adopt the best methods in which to use it to its greatest effect. Clearly this has been an issue that they have had to overcome, again this isn’t bad news, it’s just honesty.
Has it been a slower, longer process than I hoped, yes. Am I disappointed there are no results from the bulk samples, yes, but they are busy and things are happening. Rome wasn’t built in a day and they aren’t going to hit great chunks of gold every time the drill bit goes in. I think if there is a drop today, then it is a great opportunity to top up or buy in, and hold. The dewatering of the mine will also open a new door, and this application will hopefully be granted soon.
We asked and asked George for an update, and he has given us one. I think we have plenty of good news to come and plenty of reasons to hold or top up.
Just my opinion of course. Gla
“The Main Lode has provided most of the historic gold production at the Clogau-St David’s Gold Mine,
so finding a continuation of the Main Lode which has never previously been exploited would
constitute the most important discovery at the Mine in many decades. With that major objective in
mind, we are excited to get this next phase of our surface drilling programme underway.”
Details
The second phase of the surface drilling programme at the Cl
If it was a dead egg, they’d stop drilling, they have some great g/t results through drilling, so they are now refining through further drills as to where the lode goes and then hopefully onto how best to extract. It’s not the assay results that many hoped for, which I will admit, I would have liked to see some evidence of rather than a wishy-washy statement, but it’s exploration. The statement around a separate RNS for the trench work interests me, if they were “not so good” would it have not been easier to bury it in this RNS as noise....or are they good and he wants to release a single great RNS?
Happy with the update.
The market is for the patient. If you cannot be patient, the solution is simple...sell.
Holding long and strong, this is not a one trick pony.
Patience will be needed once again
ocelot, I agree, this is a long term project. ATB
The news is "that the second phase of the Company's surface drilling programme at the Clogau-St David's Gold Mine ("Clogau" or the "Mine") has commenced".
Personally, never understood why some PIs were attaching so much significance to the assay results when the real work is involved in locating new, undeveloped quartz veins, as GF has previously explained.
there are some positive statements, however there deosn't appear to be any new news, i suppose this is what we get when people chase the CEO for an update when maybe they aren't ready to issue a proper one, patience is the key here
Good steady progress. ATB
“would constitute the most important discovery at the Mine in many decades“
“ this will become a primary zone for underground development and extraction.”
“Extraction”
pdf version:
https://www.rns-pdf.londonstockexchange.com/rns/0570V_1-2021-4-11.pdf
This first bulk sample was taken from previously worked areas of the Mine, and as such the Company
is not anticipating high-grade results from this initial processing exercise. The Company is therefore
much more focused at this stage on using this first bulk sample as test material for the refining of
the processing plant so that it is fully optimised to maximise gold recoveries before the Company’s
processing team proceed to process the further bulk samples which will be taken during the course
of this year. As those further bulk samples are expected to be taken from new, unworked veins,
where the prospects for high-grade mineralization are expected to be much greater, it is critical that
gold recoveries in the processing circuit are maximised before those further bulk samples are
processed.
Alba's Executive Chairman, George Frangeskides, commented:
"The Main Lode has provided most of the historic gold production at the Clogau-St David's Gold Mine, so finding a continuation of the Main Lode which has never previously been exploited would constitute the most important discovery at the Mine in many decades. With that major objective in mind, we are excited to get this next phase of our surface drilling programme underway."