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I concur with Seis. Silver to gold equivalent is piddly.
Numbers don't line up so I wonder if it's the gold "cut-off" skewing the maths?.Ella will tell us no doubt.
Gold is roughly 80 times more valuable than silver so 10.11 g/tonne silver is roughly equal to 0.13 g/tonne of gold. The gold equivalent is then roughly 1.22 + 0.13 = 1.35 g/tonne.
"68.347Mt @ 1.22g/t Au and 10.11g/t Ag (1.31g/t AuEq1), containing 2.686 Moz of gold and 22.210 Moz of silver (2.868 Moz of gold equivalent) using a 0.3g/t Au cut-off"
The figures in brackets are the totals. It is badly worded. The funny thing is if you INCREASED the cutoff grade you could still satisfy the 1.5 million ounces @ 2.5 g/tonne, as I showed in the plot of high grade reserves!
My simple take--Total estimated reserve size of 2.868 million ounces of gold equivalent
Drilling conducted as part of Metalstech’s (ASX: MTC) pre-feasibility testing at the site uncovered a gold concentration of 1.22 grams per tonne within the total sample size of 68.347 million tonnes.
"Silver with a grade of 10.11 grams a tonne was also present in the material. (1.31 Au equiv)
so we just exceeded the grades required Au 1.22 +1.31 (for the ag,Au equiv)=2.53 and the tonnage is easily met ,a work in progress but I wonder if they might look to negotiate an early settlement ? Unless the absent cuckoo knows better of course !
Then ZERO... royalty. 2.5g/t big ask then.
Badly worded in they should put combined in the brackets otherwise the brackets look like the refer only to the silver.
C'mon Ella "No cigar, not even a cigarette. Look at the AuEq values and also the requirements for a payout on underground resource." we need an education,now some will be sceptical but I know you will be brighter than everyone else ! After all and industry professional and a blue chip troubleshooter wouldn't just make stuff up would they ? Waiting patiently...! P.S. I'm not sure I'd use the "underground resource" bit again if I were you,as I can't remember the last time that anyone discovered an "overground resource"....!
ATD have a look at the table in gold at the bottom of page 2, the Au eq total is 1.31 g/ tonne. You can't add the silver because its already included.
Šturec JORC indicated and measured resource exceeds 1.5 million ounces of gold at a grade greater than 2.5 grams per tonne, including recoverable silver equivalents, MTC would also pay Arc a further AUD 2.00 royalty per additional ounce of gold, which would be capped at 7 million ounces.
A. Resource to exceed 1.5m oz
B. Resource is to be over 2.5g/t 'including silver equivalent'
C. 2 AUD per oz over 1.5moz 'including silver equivalent'
Resource defined as a GOLD resource of 2.7moz at 1.22g/t, however the silver adds 1.33g/t equivalent to beat the 2.5g/t minimum plus the silver adds 2.868moz of gold equivalent.
So actual full gold equivalent total is circ 5.6moz at total of 2.53g/t
5.6-1.5 =4.1moz x 2AUD = 8.2M AUD / 1.86 = £4.4m
Https://tinyurl.com/3jx4n77d
Here's an updated topographic map, showing the western extent of the Kabompo Dome, with the mines and license areas marked. I've also added the African Pioneer licenses (in blue) for anyone who's interested. AA also explored those licenses as part of their wider package of licenses back in the day. I do think they are worth keeping an eye on to see if FQM come up with anything significant during this years drilling. Having said that I'd much rather be invested in Arc at the moment!
I've included the topographic map because I think it's significant. You can see there's a ridge which runs from Kamoa-Kakula in the North to Arc's licenses in the South (the white areas of topography). The fracture zones which come off that ridge feed down into our major target areas. Similarly on the East side the ridge runs from Tenke Fungurume in the North to Kansanshi in the South.
Ignore my previous post, I was just looking at the high grade subsets rather than the overall JORC. Never do anything in the morning without having a cup of tea first!
Don’t forget the Tingo shares!…. Lol!
Its poor when your hoping on Sturec to help the SP, don't forget its a "Rich period for news here"
Nearly 3weeks since the best ever deal on AIM was signed? Maybe this week eh the re-rate will start.
Happy Bank holiday
I plotted out the resource data and added the target of 1.5 million ounces at 2.5 g/tonne (AuEq) in green. I’d say they have at least equalled the target and possibly exceeded it. I’d put it somewhere between 1.5-1.6 million ounces at 2.5 g/tonne. So potentially 100,000 ounces above target or AUD 200,000. There’s still plenty of time for that to be increased of course.
https://tinyurl.com/9xtfcy3n
AIMtd-I read it the same as you,but we can wait for the "sage of Tunbrige Wells"to enlighten us.
Why don't you run us through it Ella and show how it doesn't achieve the trigger ? I'd really be very interested.
No cigar, not even a cigarette. Look at the AuEq values and also the requirements for a payout on underground resource.
G/t not %.... Doh
Scraped in by the skin of its teeth! 2.53%! Lower gold price or lower cutoff might have brought that under 2.5%.....I'm sure they tried... Ha.
Good chance for it to increase further.
As ARCM will not technically need cash very soon it may be in best interests to take shares as any further increase in resource will improve value.... Depending if valuation is pre or post this release to convert. Then looking at economics/viability of that resource etc to factor in. PFS to come, further upgrades to resource, infill drilling and DFS etc all to come that could enhance share values. Will they have the cash now, who chooses?
As you were ! But please feel free to correct if I'm wrong f29
Might have junped the gun-will have another look
From memory it's cash or shares or both."A nice problem to sit on"
Another "couple of bob" coming in ....! Seems like the Lone Ranger we were saved by Silver..!
quick estimate gives £1.87m ?
Https://wcsecure.weblink.com.au/pdf/MTC/02663482.pdf
https://www.tradingview.com/news/marketindex:33f00601e094b:0-gold-strike-upgrade-at-aussie-explorer-s-eastern-european-drill-site/
All that matters is making money, no one gives a toss about AA, they want to turn their investment into profit.
No profit for the clowns here. 10 year wait absolute garbage.
Valorem, who bought the Casa project, has changed name to Avanti Gold Corp. I’m guessing this announcement relates to the outstanding amount due to Arc. (It was quoted as $1.25m (Canadian presumably) in stock in the RNS). Those $0.26 shares have recently been trading as high as $0.80 to $1.00. Not a bad return!
“ AVANTI GOLD ANNOUNCES DEBT SETTLEMENT
Updated: Apr 21
February 17, 2023
VALOREM RESOURCES INC. (CSE: VALU) (Frankfurt: X37) (the “Company”) announces that it intends to settle debt (the “Debt Settlement”) in the amount of $1,084,144.77 owed by the Company to certain creditors by the issuance of 4,169,786 common shares (each, a “Share”) of the Company at a deemed price of $0.26 per Share. The Debt Settlement is subject to the entry into a debt settlement agreement with the creditor and receipt of all regulatory approvals.
All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after issuance of the securities.”