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I am finding it difficult to reach any conclusions on quantities.
"Once we have completed the processing of this batch of 33 tonnes of fines from the Waste Tip within our onsite processing plant, we intend to send the gold concentrates produced for refining in the same way"
This not a high volume process. How many tons per day can this plant process? The tip is estimated to contain 4000 tons. Clearly addtional capacity will be required..
4000tons of waste is massive, scotgold was was around 15k per 1 tonne bag back (obviously they may have had better grade etc i cant recall)
if grades were similar £15k x 4000 plus welsh gold premium, cant be right around 60mil lawl
George continues to dangle the carrot - the waste tip has been there for years, ALBA has had the necessary equipment on site to process the waste for a couple of years also. They need more money to keep the lights on, so beware.
They raised £380k on 28/03/24, that is about 1 1/2 months ago.
He spoke previously of expanding the plant in the future. It can also run at:
Crush 3 tonnes per hour and concentrator 1.5 tonnes per hour.
You will need to look backward to 2020 to find the specific rns’s about it
To add…
It’s big enough for what we need now and was deemed a pilot plant, we are still exploration phase
Alba did not have the necessary permission , permits to process the waste tip until recently, part of the permissions, permits were tied up with habitat regulation assessment NRW, that was significant in all the permitting requests. To say Alba could have done this two years ago is misleading. I see this as a very positive RNS.
In fairness they are talking about extracting fines from the waste tip. Fines don't need crushing, they just need gravity separation to concentrate before refining.
Mined rock will need crushing.
Concentrator capacity helps cost analysis. 1.5t per hour, one guy to run the digger/loader, one guy to run the concentrator, one guy to supervise both and stop them bunking off or dodging safety issues. Add in some power and maintenance costs, and then the refining charges. £100 a ton may be a bit low.
Its worth doing, but no one is getting a significant return on investment from the waste tip.
Clogau was never about volume but exclusivity - it’s the rarest gold in the world hence it’s significant premium & Royal connections - Clogau gold can command 30 times normal gold price - I’d hope the waste tips would be done in conjunction with level 4 bulk sampling… GLA
Robbie,
When was the last time Welsh gold was sold in any significant qty at 30x the going rate?
It is these types of comments which can mislead people on this board.
I know there have been occasions where small nuggets or jewellery has been sold at a premium.
I can't see any business or investor seeing value in paying a 30x premium for the gold we are going to mine and extract. Certainly not in any meaningful qty's.
Not trying to sound argumentative, but trying to put things into perspective for other people reading this board.
All the best.
TP
Try google Tom… GLA
Robbie, there is a massive difference between the retail price of Welsh gold and the price that would be paid ex mine. It's uttey naive to think Clogau mine gold would sell for millions a kilo, it's just never going to happen. I think it may command a premium, but we are talking at the outside 50% on mkt value, more likely less.
Making daft assertions like that can undermine other things you write. Keep it real.
You will notice the prices of these pieces of jewellery which are leveraging the hell out of Welshness are approximately the same price as similar pieces which dont.
https://www.clogau.co.uk/
3. OUTLOOK
The outlook for our Welsh gold projects is strong, not least as we now find ourselves within touching distance of
possible first gold production from the bulk sampling of both the Waste Tip and the Llechfraith Target.
With that in mind, in the next period we intend to further our partnership, marketing and offtake discussions in
relation to future gold produced at Clogau and at the same time to continue our development work to establish
a fully traceable "mine-to-market" supply chain. This will underpin our ability to command a premium price for
our gold production. (from the annual report, the Chairman's statement dated 07/05/24)
Pickedpeck - George has already stated we will be designing, producing & selling our own jewellery - Alba are to be a 1 stop shop… He specifically stated the jeweller profits should be ours not somebody else’s. GLA
Robbie, that's even more worrying. How much capital and expertise do you think it takes to set up a competitive jewellery design, manufacturing, and retail operation, particularly as there is already one called 'Clogau' marketing Welsh gold with only modest success. George wishfully thinking something doesn't make it real.
Ffs they are putting waste tip fines in bulk sacks with a tractor, separating with a shaking table with a capacity of one bulk sack a day.
The cynicism about the RNS releases here is now palpable.
Things I would like to see from the company to persuade me to hold
1. A timeline for mine development, easily possible with conditional milestones.
2. Some sort of basic PEA to estimate what business model is being proposed for main mine and waste tips, and any satellite developments.
3. Any sort of coherent strategic plan for Alba as a whole. WTF is Australia all about, that's my money they are proposing chasing that wild goose with.
4. An estimate of the capital requirements. It's starting to feel like RNS followed by a raise to pay George's wages again is on rinse and repeat mode.
Yes, in the absence of any if the above I am starting to get impatient.
@ Robbie, sorry for the late comment on your post about volume, you were right of course , its never been about volume, it will never be mass producing mine. Its all about the premium and rarity of welsh gold and the ethical production and traceability, and don't forget the Royal connection, all this make it "special.
Our own "Vivien Johnston Glass said
“I am thrilled to work with Gold Mines of Wales. Each mine is different and presents unique challenges and opportunities in the creation of a verifiable route-to-market. The history and heritage of the Clogau-St. David’s Gold Mine, the cachet and prestige surrounding Welsh gold and in particular gold from this Mine, and Gold Mines of Wales’s position as the only possible future producer of that gold, all make for a very exciting proposition. I look forward to supporting Gold Mines of Wales as it advances its commercial strategy, leveraging my experience in the industry to foster partnerships with luxury brands and to implement a mine-to-market verification process for gold production from Clogau-St. David’s, which will be essential both to ensure an ethical supply chain and to secure the best possible returns for this unique product.”