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They shouldn't be able to announce it along with anything else to me if they have the mre that is share price sensitive information and that is something that shouldn't be held back it should be released as soon as they have it by law, so its prob just an error somewhere with the paper work or else the results are poop and there trying to delay as long as possible hahaha only kidding on that last bit hopefully its a stonker. GLA
Thanks Greg.
So are they perhaps looking to resolve the Red Ray dispute and announce along with the EMR?
Or are they looking to release the EMR along with the NAE listing to give the listing a healthy tailwind?
Just need to wait and see. I didn’t realise FB was preparing the EMR.
Greg "Disagreement with license/ ownership"?
Please expand on this statement.
Disagreement/ fault within the JORC process
More data required
Disagreement with license/ ownership
I'd say 90%+ of MRE was completed after batch 2 results so what could be the possible hold ups?
Timed to coincide with Capital Investment
Timed to coincide with NSE listing
ID78, the current Goldplat JORC compliant MRE is a blended one. It was reviewed by Goldplat's Geologist Mark Austin.
Kilimapesa hill 1.2km strike was conducted independently by Mr. Dexter Ferreira.
Combined with
Red Ray 1km strike was also conducted independently by Dr Cedric Simonet.
The new updated MRE will be for Kilimapesa hill and reviewed by Caracal's Group Mineral resource manager Franck Bizouerne.
The main difference is the strike length from the old 1.2km to 2.6km.
In answer to my own question it is not passed to a regulatory body for approval.
The EMR is the sole responsibility of the competent person preparing the report.
The overall impression I had, was that Robbie had a very different presentation he wanted to make, but was unable too.
3 of the 5 companies presenting were miners, so plenty of investors in that sector. All CEOs were around to chat after all the presentations had concluded, over the usual drinks and canapés, however, Robbie had left the building.
When I spoke to him (immediately after his presentation, but before the rest had finished) I asked, do you know the upgraded MRE? He said (as the sparkle in his eyes flooded back, and with a large grin) "yes, I have seen it".
Hope that's clear for all, and is all I know.
All the usual caveats.......
Thats what i wondered myself joff1 , do they know what it is but for some reason there holding it back from putting it out, or more likely some extra paper work to dot and sign.
They had seen the upgraded MRE?
If this MRE is JORC compliant then it is prepared by another (independent) company. Perhaps they have seen something they need to rework in checking the MRE
or (and I am clutching at straws) does it need sent to a regulatory body to be validated?
I can’t think of any other possible reason for the delay.
I'm not so sure we are waiting for the assay results. RM said to me, at the investor meet, that he had seen the upgraded MRE. That implies to me that it has been done and the hold-up lies elsewhere .
This is not the Swiss rail system - that did make me laugh. At least they aren’t like the Scottish rail system and taking industrial action over pay.
Ultimately your post says it all, we are in the hands of a 3rd party and nothing can be done by RM or anyone else so we have no choice other than wait on the 3rd party doing their job.
Likely to be hold ups in obtaining the assay results - when you are in the hands of a third party then it is outside of your control unfortunately. I am sure that they were given assurances from the third party but this is not the Swiss railway system. I am sure they will be worth the wait.
ATB
We are working hard to have the update out as soon as possible, due to unforeseen circumstances we had to delay.
Thank you for reaching out and just know we are doing our best.
I think so too, Greg.
But the point of those number is that 1,000,000oz is not that far away and (hopefully) easily reached.
Let’s hope we get the MRE this week.
GLA
I think 300Koz is a bit too conservative probably 400Koz to 600Koz more Gold
Numbers don’t add up.
Current resource is 672,000oz with 140,000oz Red Ray and 532,000oz in the hill.
1,000,000oz -672,000= 328,000oz
328,000oz increase is still a 61% increase on the 532,000oz in the hill
p.186 of the prospectus there is a table that shows half the gold they think is in the licence is in the hill, at a 1g/t cut off grade.
Also in that table, the average grade in the hill is lower than in the other areas, so lowering the cut-off grade may have the greatest affect in increasing the resource at the hill location relative to any of the other prospects within the licence. (There is maybe more lower grade gold in the hill than elsewhere in the licence)
Also, initially the strike length was planned to be 1.875km which was increased to 2.575km.
I do think the EMR could hit 1mill oz, but to try and be conservative I’m saying that includes Red Ray, which is 140,000oz.
So all that drilling and lower the cut-off grade needs to find
1,000,000-641,000 = 338,000oz
- an increase of 61% of the current JORC gold in the Kilimepesa hill (541,000oz).
I just feel a 61% increase is not beyond the realms of possibility but ultimately we don’t know anything till the MRE lands.
A big clue is that the company are searching for a 2Moz+ resource from Kilimapesa and surrounding area.
Half of the Gold already comes from Kilimapesa hill where the updated MRE. will come from. They'll be looking towards getting 1Moz from the hill. IMO
Aprogerson it was just an example of the potential. We already know it's 671Koz including Red Ray. But I do think it's going to be between 300koz - 600Koz increase .
So I'm predicting MRE to be 1Moz+
@Greg Not sure JORC resources work like that but 6 months of infill and expansion drilling completed to date will help as will amending cut-off grade on existing drill data
ATB APR
Don't forget the gold strike has been increased from 1.2km to 2.6km which is 115% increase.
531,000 oz + 115% = 1,141,650 oz
So this is definitely going to be a Jorc compliant report ?
Kilimapesa share of current JORC is 531k resources at 1g/t cut-off grade (Jun-22 presentation p12) as original JORC was based around economics of traditional plant. Now GCAT are using Heap Leach and POG is significantly higher then when original JORC was completed in 2008 when POG was circa $600/oz I expect that the cut off grade will be dropped to around 0.5g/t as much lower grades are not only technically feasible but also economically feasible. This will involve remodelling of original drill results as lower grade mineralisation can now be included in the economically available revised MRE which should also increase overall resources but depress overall JORC average grade whilst increasing confidence levels due to additional infill & expansion drilling at Kilimapesa.
What will this do to the JORC? It should go up ... a lot and more resources will move from inferred>indicated>measured.
Its all good
ATB APR
Yeah get the results out there Robbie or get the rns out explaining the delay do your job for us lowly Pi,s