Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The RNS states: This diamond drilling campaign will initially focus on a target area to the west of the current Indicated resource area within the existing Inferred zone. The overall objective of the drill programme will be to seek to increase confidence levels in the resource within the central, proposed future mining area of the Toral Project, as announced on 15 November 2019.
I think the operative word is SEEK. That unfortunately means to try and prove what they say is there. I think we’ve all got a bit more waiting to do yet. I want this to succeed as much as the rest of you, but I think we’ve all jumped the gun a bit. IMO of course DYOR
Maybe they are going in search of that separate thermal event MC mentioned a while ago now to find a big chunky wedge of copper (unlikely). Would fit with Peel having a copper miner on their books currently in the South of Spain looking for projects in the North of the Country (again wishful thinking).
Sorry......Minining licenses would NOT be given until a water table survey had been done
The change of plan with the drilling would more likely have been driven by the Spanish local government wanting assurance that Euz's plan to mine Toral is ecologically sound .
Minining licenses would be given until a water table survey had been done.
DYOR
I got you Shed....it was a curve ball this time :-$...well lets wait and see....but hell it is intriguing as you say....
I like your thinking their shed. Interesting choice of the drill bit location.
Bricks I didn't really mean that it looks like a safe option of strengthening our core Pb-Zn-Ag indicated to me. I sense it's too risky to go off chasing the Cu and that might be for a JV partnership or a bigger player. You never know we may run into again unexpectedly though.
Notice the emphasis on Copper here....https://www.reuters.com/article/us-yamana-gold-divestiture/canadas-lundin-mining-still-seeking-assets-after-1-billion-mine-purchase-ceo-idUSKCN1RR12N
Somehow dont see that happening Picaasso...LR has more integrity than that....However what I see in SHed's chrystal ball....is a deviation again.....this time a deviation to beef up the inferred and indicated of the Cu perhaps.....lets face it we have enough lead and zinc and silver....why more of this???
Bizarre statement P
That will be it
Unless someone wanted to drive the sp even lower with an unexpected drill in an area that will be disappointing - leading the way for a cheap takeover.
i know what i want what i really really want...i want it, i want it NOW
Someone knows what they want and where they want us to look for it
I think you have nailed it Shed....so a distinct change in plans rather rapidly the way I see it.....now the question remains....why the sudden change ?
Flippin heck I must do some work but this is intriguing. I doubt they would rush an RNS - legals and all that sort of thing. I admit there wasn't much detail but for some reason in the 9th Oct presentation it seemed that the next drilling would be to the east (14 mins in) of the inferred zone but they are now drilling to the west of the indicated area but within the inferred zone. I think this is probably a conservative move to firm up our indicated and possibly leave more ambitious exploration until we have a JV or as running room for a new operator, I believe the same thinking could be applied to the copper.
Yeah I see what you're getting at Bricks, the suddenness of them embarking on the drill program surprised everyone. A couple of things - from the point of view of the company the mets have unfolded as an ongoing process, if anything from the mets was required to inform the drill strategy then they probably will have known about it for a while (don't know what that might be but there you go), secondly I think the decision to get on and drill is as likely to be EUZ wanting to demonstrate that they have a plan of action independently of suitors as them being required to prove more. Guess what I don't know, oh you knew :)
The more I think about it the more it strikes me the drilling RNS was really rushed.......compare it to the other RNS's on drilling and you will see what I mean...
Good point VR....using it as a negotiation lever for a higher price....I dont mind in that case waiting.....:-$
It could be a case of, whilst you have been pondering over those results Mr Buyer we have since commenced further drilling and have cracked on. Oh and by the way we can now improve our indicated resource so it'll be XXXm to buy the project and others are interested.
Thanks Shed...but why did he mention those 3 events in that specific order....surely he must have known when they would be delivered....it seems the drilling was announced 2nd instead of the METS....so in line with your theory...my theory is the "buyer" has seen the Mets...happy and now asked them for more "indicated"....which possibly is already built into the price that possibly already been agreed.....hence the "speed" of this drilling exercise which imo the scope was very poorly reported in RNS....Seems like some plans were changed the last minute...with the "silent hand" dictating. IMO. GLA
Sorry Bricks hadn't seen that when I posted. I know that I speculated last week that the incomplete 'locked cycle testwork' could be a convenient way of buying time for exclusive discussions with other groups but that's probably a bit far fetched, maybe. The guidance always was Q4 and we're right in the middle of that period so no delay yet to worry about. I often think back to MC's "more importantly" comment on the mets hence my thinking that they will be the springboard for negotiations to begin. Rubber stamp the economics of the resource we have and all the while the drill bit is turning potentially making us much more expensive, good bargaining position.
No brainer at this price, I’m very happy buying these up
True Bb - but there is more metal in the ground and it's only going to get bigger, I believe come the agm things will start to improve. Toral is a much bigger resource than currently stands and with new drilling targets and geo/hydrotech work planned it's only going to confirm the true value.
The JORC update was impressive with a significant increase of the resource but had little effect on the sp for whatever reasons.
The shrewd are buying now and waiting patiently for the uplift which will no doubt come out of the blue.
You can't stop people selling and going to pastures new while they wait.
Bricks while I agree the mets in themselves are unlikely to trigger a re-rate they could well be the catalyst for something that will. Not being patronizing as I'm no expert in this field but they will be complex and we'll all have to put our thinking caps on. Luckily their value won't be lost on the entities we are sharing them with and it will be their actions that will hopefully cause the 'slingshot'.