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Timelord, i think we have already covered possible numbers and they are off the scale,if cheap ore is $65/ton and high quality is $1500 usd then multiply the 65 by a few billion and 10% of it (in ground value)is our minimum value,the larger numbers come in at 900 billion @300mtr deep,,, last time i tried to value us,i t depends on how much it costs to extract titanite and do you put a 40 yr or a 100yr life on the mine as deeper than 1km is difficult, our readings go down to 7km in places.......
Cevodnija, what I define as a large holding is my concern only. My holding may be defined as either large or minuscule depending on your circumstances and risk.
I personally do not need or wish to disclose my holding or my definition of large.
I do know that I am very happy with my holding and will continue to add at these prices.
But good luck with your “minuscule” holding as I am sure you will do very well with it and I will certainly do very very well with mine….!
Gla
Happyhols, at what quantity do you define a large holding, I'm a minnow with 1.3 million, to me that's miniscule.
What's your opinion of large?
Presumably, the JORC, when published , will be based the results for the 2 key ( current ) areas but only based on drilling to a depth of 130 metres-but we know that our resource remains open at 130 metres so if the resource exists @ similar %s I presume our JORC would increase, eg, by 10 fold, if we can prove that we have consistency of resource down to a depth of 1300 metres ?
Eee and it’s partners are seem happy enough. A very good time to buy then, before the wider market and mining community have confirmation that a processing route is viable.
That is when the share price will react accordingly, a lot depends on your risk strategy,
I for one am very happy to continue building my large holding while we are in this price range.
Gla
Drilling to define the resource is part of the story here, my point was that trying to extrapolate value is pointless when dealing with an unproven mineral.
#EEE are clearly confident that will be non problem. The wider market and mining community, appear to be unconvinced, so a larger resource may not yield a higher valuation, at least not at this stage.
However TL the drilling continues, seams pointless if we aren’t confident a process route is not viable..
"can we take this one step further at this stage and put any sort of value to this 3 billion tonnes of titanium rich ore?"
No. It's still in the ground. Processing route unproven. Quantity is no longer an issue.
Well if I read right, that is JUST from those 2 locations
The vast majority of the anomaly hasn’t been drilled yet
So can we take this one step further at this stage and put any sort of value to this 3 billion tonnes of titanium rich ore?
Always a great read for a
Rainy bank holiday
Thanks
Thanks as always AGEOS
BW J
GLA
Continuation:
Assuming that the host sandstones predominate throughout the stratigraphic sequence and maintain an approximate 60 degree easterly dip, then the minimum 1000m surface outcrop equates to 870m true thickness [ie the dimension at 90 degrees to the sandstone bedding-planes] and the depth as proven by the 150m drill holes, is 130m measured vertically from ground level. The minimum ore resource at Cosgrove is therefore 870m x 130m x 5000m = 565M [million] cu m which at 2.7sp g [approximate specific gravity of a mineralised sandstone] = 1525M tonnes. Obviously I have not accounted for overburden of which we know there is little, and have based the calculation on only 130m depth of opencast mining as indicated by the drilling.
Applying the same criteria to the Thomas property map the target area again varies between 1000m and a possible maximum of 1500m E-W, although several of the 2023 drill holes along the eastern margin such as 06.08, 09 & 010 fall below the 5.00% cut-off and therefore limit the E-W axis to the lower figure. The northern limit will probably be around the RC24TOM028 mark [assay pending] as the nearby 2023, 03 & 05 holes were both high grade, and the southerly extent will be at least 5400m as RC24TOM015 has assayed at 5.30%. RC24TOM014 for which assays are pending could add a further 1000m to that. Since the stratigraphy and structure appears to be similar to that of Cosgrove the minimum ore resource at Thomas can therefore be calculated as 870m x 130m x 5400 m = 610M cu m, which x 2.7 sp g = 1647M tonnes.
The official Exploration Target tonnage will be quantified using 3D Block Modelling into which all available data will have been input, thus eliminating overburden and low-grade or lithologically unsuitable rock-types such as conglomerates and siltstones. As the latter appears however to be a minor constituent of the c1000m, mainly sandstone sequence, I anticipate that the minimum ore tonnages will be as calculated, 1525M tonnes for Cosgrove and 1647M tonnes for Thomas +/- 15%.
AGEOS.
I'm sure we would all wish it so, but you never back up your wild valuations with how you arrive at them. EEE has a current Mcap of c. £42m. You are saying the value inside a year will be in the range £300m to £600m.
We are a year away from even pilot plant revenues, and will need to spend some tens of £Ms to get there, which will have to be raised, borrowed, or traded for a share of the project. then there is the uncertainy (like it or not, the inv community thinks so) of titanite processing and how commercila it will be.
It is not impossible for EEE to be priced at £+ in the future, but a lot of things have to go right first.
Towards the end of the recent 30.04.2024 Proactive Investors interview SB mentions that they will wait until the remaining assays [22 RC's and presumably the 4 DD holes] are received before releasing the next RNS update. He also intimates that since this will allow progress to the definition of an “Exploration Target” [presumably as defined on page 5 of the 25.04,2024 RNS] this too will be released as part of that RNS or as soon as possible subsequently. To conform to the JORC code an “Exploration Target” must be “a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, [is] quoted in a range of tonnes and a range of grades (or quality)....” It is a developmental stage prior to a JORC-based Mineral Resource Estimate [MRE] from which assessments of potential economic value can be made.
Since the geological structure of the two target areas of Cosgrove and Thomas are known [and I hope understood at least by those who have followed my posts on the subject], as is the extent of the drill-hole coverage, it is a relatively simple task to estimate in advance what the minimum ore-tonnage will be for both targets. I provided in posts on 03 & 20.12.2023, examples of ore-tonnage from some portions of both target areas but it is now possible to combine the data into regional estimates based on the drill collar location maps [Fig 3 for Cosgrove and Fig 4 for Thomas] included in RNS 26.04.2024.
Taking the Cosgrove map first and having superimposed onto that all the drill hole locations from the earlier drill programs it appears that using a TiO2 cut-off of c5.00% there is a target area varying between 1000m and 1500m E-W and extending from RC24COS015 in the N, for 5km southward to RC24COS026, 027 & 028 [all three assays pending]. South of this, assays from 7 holes on the KAD property in the 3.28% to 4.62% range, exclude this area.
To be continued
IMHO
World beating TI findin a safe country ie AUSTRALIA and not hard to mine as at surface
Thank you
Puzzler2, totally agree with you. I only check in a couple times a month now, pointless!
Very little point in an EE investor reading this thread anymore
🤣 I'm never living that down am I!!! Man was winding me right up, cracking on like I'm some fat old geezer talking tough over keyboards. Not my finest hour
Go on dusty tell him your 6 ft 4 work out and you can do him in a cage fight…. Tit boy referee when he’s back from Kentucky
I'll call Frank later
I think you need help.
DUSTY, Could you please limit yourself to 2 or 3 posts a day, if you have nothing really to say about Empire metals.
Thanks
Calm down wee fella, bank holiday weekend, spend some time with the family 😉