George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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It's been drilled previously in anglo american JV days, you recalled right TDT -
The average Pd:Pt ratio for Monchetundra is 2.36:1.
The average Pd:Pt ratio for Volchetundra is 2.93:1.
Monchetundra
To date, 16,121m of drilling have been completed on the licence
Volchetundra
To date, 12,192m of drilling have been completed on the Volchetundra Licence.
https://polaris.brighterir.com/public/eurasia_mining_plc/news/rns/story/x55ym2x
MT and monchegorsk geology -
https://www.researchgate.net/publication/252268728_The_Monchetundra_Basic_Massif_of_the_Kola_region_New_geological_and_isotope_geochronological_data
This amount of exploration funding years ago -
https://www.proactiveinvestors.co.uk/companies/news/226/eurasia-mining-revisited-0188.html
"To summarise, as per the information from the Russian Cadastre:
· there are potential resources within the existing Company licence and the flanks application of c.15M oz. This includes Eurasia's current state approved reserves and resources of c.1.9million ounces (see the Company's Resource Statement, announced 15 June 2017) and c.13Moz detailed in the Russian Cadastre;
· additional potential resources occurring within 5km of the Monchetundra Mining license and areas neighbouring the Company's deposits of c.4M oz; and
· additional potential resources within the wider Monchegorsk district in which the Monchetundra license is located of c.21M oz.
The potential for the area could be 40M oz of PGMs, but as stated above this data has not been independently verified by Eurasia and other than the area covered by the Company's existing licence the Company does not yet have any other licences in the area"
GLA
Checkout their website, it’s clear what Precision do so taken at face value looks like we might be doing lots for ‘exploring’
Valid point Aubery.
License is for further exploration right.
Some reasons for optimism if Eurasia are now consulting with ‘Absolute Precision’.... Assumption this is to shore up previous ‘unconfirmed, only speculated’ mineral quantities.... Perhaps the flanks is now in the bag!!? Hmmmmmm what was his name that guy from Absolute Precision????
Reminder that the flanks application is for exploration.
... and not mining.
Lots of work to do if we ever wanted to mine those flanks ourselves.
My gut says we are going to have another year of ‘development’, the window for sale or part sale is being missed.
Shortly
erifles, i would imagine its a negotiating tactic from a buyer, they want MT because of the flanks and the relatively straight forward mining operation but on the other hand deny that a full valuation can be ascribed to it through lack of proof!
Thank you. I stated this point back in December and was called a clown, told I shouldn't be invested in this share and that I shouldn't be posting on this BB.
Does the plank dealer55 still post on here?
Potentially yes in order to remove any doubts about what is there, as TDT alludes to in his NPV calculations.
Are you saying we would need to drill the flanks to prove the resource as an asset?
Eua would pay for it from profits from the original licence area. Angloamerican jv already did millions of pounds worth of drilling so would not be starting from scratch. Much of that drilling showed continued at strike and depth I believe. I wonder if you need to explore it a lot or once you are set up just keep on scooping or drilling till it stops being worth it. Much of it is open pit so you make your money from that first.
If they go alone and choose to do exploratory drilling in the flanks..... who is going to pay for it...?
The tweet from Precision stated that the project would be a ‘complex one...’
The below list of resources has been compiled by the Murmansk Geological Archive and represents the current database of resources in the immediate area of the Monchetundra production license.
This information contained in the Russian Cadastre has not been independently verified by Eurasia and it is therefore provided for guidance purposes only.
The Company would need to verify the data in the Russian Cadastre through additional work and drilling if it was to incorporate the data into the defined resources of the Company (as required by the relevant mining standards and the AIM rules). The Company may undertake such work as and when it is deemed necessary and in any event if it determines to progress with expanding the operations of the Company; building upon the data sets already established by previous workers.
Taken from the MT update on the 4th Dec.
Its possible that a bidder may be trying to low ball the offer based on their assessment of insufficient evidence on the flanks resources, or it could be more detail required to mine MT ourselves( cant see anything being done at MT this year now realistically) or its for the increased acreage at West K.
With mining season approaching fast an update must be due but how to do that without revealing ones hand might be tricky.