Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Darren has put a picture of Awkward core on twitter:
https://twitter.com/darrenhazelwood/status/1588882632968138752?s=46&t=0PGpKzCmGE7tk3KKvGRQyg
Any geologists on here got any thoughts. Looks like quartz and pyrite to me, possibly some gold. PGMs wouldn’t be visible. Certainly plenty going on. Looks very encouraging for the first ever hole on a big target
Wondering about nickel sulphide as well. Some photos online look somewhat similar, except for the gold bits
Certainly encouraging and certainly pyrites by the look of it. Hopefully there will be something in there of interest to start to bump the sp up.
They are certainly getting through the drilling at pace.
Also begs the question why we didn't get a core pic from Wishbone this time.
Yes, I’m intrigued by the absence of a photo of Wishbone core. Logically there seem to be two main possible explanations: they didn’t hit anything and if they showed core pics everyone would write it off as a failure; or they have hit VMS that looks different from last time (eg visible chalcopyrite) and it’s evidently significant, therefore RNS only, but need to await assays. I’m pretty optimistic of the latter, since we know for certain there is a big VMS down there, which seems to make a total blank unlikely. No doubt there are other possibilities too.
Agree Metalhead.
More Awkward core on twitter:
https://twitter.com/darrenhazelwood/status/1589173080559128581?s=46&t=okPLsX5vxqrXfQ4fI-888A
Looks good to me!
Yep looks good but who knows what it contains. If it turns out to be nothing commercial it could be cut up in to some nice paper weights ;-)
Fingers crossed we really need a win and Darren needs to regain his credibility.
Agreed, and we won’t know what’s there until we get assays back. If anyone can tell the difference between pyrite (iron), chalcopyrite (copper) and pentlandite (nickel) just by looking at that shiny gold stuff it would be interesting to hear from them! But I’m guessing that’s not realistic and we have to wait and see.
One thing I would say is that this is the first ever drill into Awkward, we don’t necessarily need assays that blow the doors off. A more modest result but with clear potential might well get a deep-pocketed partner interested, especially when we know we have VMS at Wishbone as well
Core is a good indicator... MH...
Bitcoin thinks we are onto something :))
Economical grades...over good lengths....
With a bit more information from Darren this could be very exciting.
They're drilling an igneous (volcanic) intrusive (in effect a very large pipe) which is at or very near surface if they hit within a 50m drill. That has immediate commercial benefits, means lower grade are viable. Nickel is being mentioned although Lac Des Iles is famous for Palladium.
If this initial (shallow?) drill is promising (the guys have XRF & magnifying glasses) then they need to go all out with a 500-600m second drill.
Some downhole geophysics may have helped but I don't think they have the capability at Obonga.
Let's hope they can glean enough information from 50mts.
Darren tweeted a story about copper shortages this afternoon. Yet we have no expressly copper-focussed projects. Is that chalcopyrite in the drill core, I wonder? Or at Wishbone? Hmm :-)
Anyone noticed the trading patterns over the last week and the last two days.
Price was pushed upwards from 4.6 on virtually no volume.
SP should have reacted yesterday to those core photos and there was buyside volume but there are predictable sells between £1000 & £2000 blocks. Its not shorting and its not clear why someone would be offloading and at a very slow pace. Both the sizes & timings of the sells look designed to hold the share price at current levels, why?