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Start watching video at 5:45 to see seismic survey results from Perseus' Yaouré Gold Mine in central Côte d’Ivoire from 2020
https://youtu.be/2MuC-pA6jzU
Remember, Centamin had a similar seismic survey done at Sukari as outlined in this market update in 2018/2019:
------------------------------>>>
In 2018, the Company began a multi-staged geo-seismic programme to create a 2D
and 3D architecture of the Sukari license up to a 1.5km depth, with the
objective of identifying additional porphyries and resource potential. A 2D
seismic survey and Full Wave Sonic bore hole log was run across the main
Sukari structures.
Throughout Q2, three 10km 2D seismic lines were set out in an east-west and
north-south orientation, with final ground preparation to be completed in
early Q3, ahead of the full seismic acquisition.
Late in Q2 two surface drill rigs arrived on site to commence multiple work
programmes, including supporting the seismic drill programme; geotechnical
drilling for the new tailings storage facility site; and drilling priority
regional greenfield exploration targets.
<<<--------------------------
My Thoughts:
I feel that Centamin shareholders should have already been provided the results of these surveys. After all we paid for them.
Think about it - it is highly likely any potential suitor (like Barrick) would be granted access to this info already - as well, several if not all of those 5 employees that swapped positions between Barrick & Centamin would have seen the results (the latest who left for Barrick most intimately familiar with the details)
Isn't it time shareholders are informed?
Withholding information is what led to the blindside waste clearing project that's costing us $350 million to catch-up. Let's not get blindsided again - for all we know there could be a huge porphyry deposit already identified yet only know by suitors, former employees and new Barrick hires.
Centamin touts it is making ESG a priority. They can start by improving governance - BOD , please inform your shareholders of the results of the Sukari 2018/2019 seismic surveys NOW.
Cowichan you may need to have a read of the company presentation relating to the resource geology back in September last year as whilst not specifically mentioning the seismic survey the report goes into far more detail than would be gained from a stand alone seismic survey.
Not sure what more we can be told about the porphyry?
There was also mention of a possible Bonanza find in the open pit.
Without giving more info confidential to competetitors, there was no more they could report.
Dasut - I'm not sure if we understand each other.
The seismic survey covers an extensive area - 10km lines , etc. with the goal of finding NEW porphyry deposits in the greater Sukari area. Nothing has been shared about those results. Apart from the current open pit and underground the nearby extensions and satellites remain a mystery.
I encourage everyone to watch the video of Perseus seismic survey. The point being a lot of information is gathered covering a very large area.
Would it be too technical for the average shareholder to understand if the results were shared? Other companies do it all the time. It's called promotion. Besides, let shareholders decide what is relevant.
And as far as Mizoglit's comment about keeping it secret in case of competitors. Well, Centamin is the only one able to mine Sukari and the surrounding area for possibly decades. And potential suitors will want or already have access to the survey info - it's only fair to shareholders that the market gets to price the 'potential' of a new porphyry discovery/extensions/satellite deposits beforehand.
And what is the alternative? Nah, I don't need Centamin to behave like every other miner and actually share info like this? That kind of attitude isn't logical for a shareholder (like Mizolglit claims to be) but perhaps he/she isn't what they appear.
Well noted about the 3d seismic survey which would have cost a few $m. I have seen nothing in Sukari, but many other companies have such data sets and they have proved to be very valuable. Simply it will give you the best image of the geology, based on density and/or velocity contrasts, down to 2 kms or more depending ont he sources they used (thumpers). It has shown the existence of intrusives, by virtue of their lack of internal contrasts. If properlly done and processed, it wil provide information on the geometry of major structures, geometry of lithologies, and alteration. It can map out rock strength, and has been used in planning open pit mines, by recognising and mapping steep faults which may have a negative impact on the pit walls, and not be recogonised in vertical drill holes.
http://www.dmec.ca/getattachment/d9857f40-92d6-4d51-97ca-ee45b82ae5d8/Resources/Exploration-17/Demonstrating-why-3D-seismic-data-are-assets-for-e.aspx
In general the presentation of exploration results pre the present management has been paltry and poor. The investors have a right to know in my opinion.
cheers
the gnome
Cowichan, I am not disagreeing with you I am just pointing you to the shared information that is currently known by the company. I would suggest the seismic survey along with the drilling that they have undertaken has enabled the new guys to push for more such as the air surveys.
I do think that the reports and presentations we have seen over the last 12 months have been far more professional and enlightening but I agree we do need to be brought more into the fold.
We also need to do our bit by asking questions when we get the opportunity during the phone ins.
Dasut - I agree Mr Horgan and his team from Toro have brought some improvements.
In regards to our shared responsibility to ask questions - I have to admit I have never called in myself - the time difference being an issue (but not a good excuse!)
I'm going to email IR re: the seismic survey but I rarely get a response. I'm on the naughty list. Actually I had my LinkedIn account suspended yesterday - they said I 'appeared to be using automated means' to operate my account. I have no idea what they are implying - perhaps it's simply some corrective action due to the reports/flags I get from those (Centamin IR?) trying to hush my inconvenient questions - but it's back up and running now after I agreed to follow the rules (which I still haven't an idea how were broken)
We'll see if the persecution continues.
All the best !
DASUT,
The Airsurveys do not have the same resolution as the seismic surveys. This is a physical impossibility. What would be good to know is what the coverage of the Respective surveys are, parameters of surveys and what informatIon they are getting from the surveys, and how they are using this information to target BETTER to make DISCOVERIES SOONER.
the gnome
Hi Dasut,
I agree entirely with you, also considering your past professional experience of the industry and Sukari your opinion regarding the recent presentations is especially appreciated and indeed should be regarded as an endorsement of the professionalism of Martin Horgans new strategy, also endorsed by Kees Dekker which I find most reassuring as Kees doesn't give approval without justifiable cause and neither does he hold back or mince his words!
I am glad to learn that Cowichan is intending on putting this query to Centamin via Investor Relations, to be fair he seems to be one of the minority who rather than just complaining on web forums does also follow through by taking the time and trouble to write to the company via the correct channel's.
As I have said before one can be whomever they want to be on internet forums,although when it comes to actually writing to the company,or as you rightly suggest asking questions on the telephone, well that requires quite a bit more genuine conviction and effort which many are unwilling to make!
But credit to those that do!
gnome I agree seismic is more specific but you initially need to know where to be more specific so both survey types will be extremely beneficial. Must also admit my knowledge of seismic surveys is way out of date and was quite hit and miss literally whacking a metal plate with a big hammer. OK joking because did see results prior to retirement of some advances but not as reliable as in the petroleum sector. So I bow to yours and Cowichan's greater knowledge.
Dont we all bow to their Greater Knowlege/
My last post was sarcasm just to show its clear, dear fellows.
Just wait and see.