GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
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DP came across well. We are on track, and can look forward to regular updates on lab core sampling and further drilling results.
Our Mkt Cap is only £3m and considering the potential sizeable returns from the project, the firming up of data can only be excellent news for shareholders and the share price.
PS Thanks for being eagle-eyed, EE22! Did anyone else have thoughts on the podcast?
Interesting to be reminded by DP that over 30 million euros have already been spent at Molaoi by the Greek government.
While it is early days yet it does sound as if the geo team has a good model based on historica data, and while tweaks are to be expected as further drilling comes in, I am a little less worried about nasty geological surprises.
12 months to a feasibility study being ready is what I heard, so end 2023.
GLA Zaph
G'day all,
From the reported drilling results the main takeaway for me is confidence in the geological model that the Rockfire team have put together from the historical data at Molaoi. Look forward to seeing deeper results and new drills to see if the predictive power of the current model holds.
Massive and Semi-massive sulphides, found exactly where they're supposed to be straight of the bat. Nice!
"Rockfire Resources plc (LON: ROCK), the gold, base metal and critical mineral exploration company, is pleased to announce that inaugural drilling has encountered massive sulphides at the predicted depth and position at its 100%-owned Molaoi zinc/silver/lead/germanium deposit in Greece ("Molaoi")."
@obrien, first it is you are not your, second, you will find out sooner rather than later who is, as you put it, the idiot.
the 2m shares in this dog was from profits over a 6 week period.......so a "free" carry.....indeed if I bought another 2m....then that too would be a "free" carry.
so chrisobrien....whilst being an idiot remains profitable.....I'll rinse and repeat and carry on being an idiot! lol!
GLA
if you bought 2m shares in this dog then your an idiot
Thank you Oilman, that is illuminating and backs up my feeling that the risk/ reward at this SP
Is very favourable.
Critical tonnage for a mining operation is 500,000t zn eq.
The maiden jorc was for 0.25Mt and they are very confident they can double that in the JORC resource area to the south. Recent news has indicated the northern extension, which can triple that , is way more de risked than the market thinks
I have calculated £140m NPV(10) per 0.5Mt Zn Eq which is just shy of 10p. I can post the parameters used if peeps want
Good points.
Don't forget there is already an incline to mine level so potentially a lot of hard work done and this looks like it could well fastback this to production once more zinc has been firmed up which is a 100% certainty imo.
Maiden JORC 200,000 tonnes of zinc, current value before cost of extraction, £600million. Underground mining costs will be substantial, even so a DCF valuation makes the current market capitalisation of ROCK look rather low.
What's the value of the Jorc and how much will it cost for you to extract it? That'll be the value of the asset. First part is easy, second part is a little guess work but there are similar mines you can get a rough figure from.
Anyone care to put a value on this asset if current drilling proves up historical zinc load. Indeed any ballpark figures for optimistic/ pessimistic drilling results and core sampling.
As I believe the current SP is supported fully by the Queensland gold acreage, the upside potential is there.
The last time I bought 2m shares here in ROCK was almost 2 years ago at the cost of £14,811.........at the time I put in a sell order for 1m at for 1.45p....and I actually forgot about it and it triggered 6 weeks later at 1.474p.....so got my stake back.
I have stayed invested till this day.....but decided to top up by 2m again today. but only needed to outlay £3,704.95...which includes AJB £4.95 broker fee.
I really wish they would drill SW of Plateau and a deep drill at Copper Dome.......but heyho it is what it is.....and I'm liking the way the Greek asset is developing!
GLA!
The maximum order and position sizes are based on each stock's average traded volume and liquidity.
Drill is turning. Not too long until results. Confirmation of historical results would be a major positive. SP risk reward looks enticing, at such a low mkt cap.
They are certainly in 'communication mode' ! Fresh drill results confirming historical ones key.....
Further derisk the zinc imo
Listen...it's simple... the Cu plays are not quite on the money.... but the Zinc clearly has all the attributes for going into production... just neeeds some new confirmatory intercepts and a nice Zinc price.
The latter looks very likely. Drills are go...
The gold is still there and if gold re-rates then it will become more and more tenable. The SP is on it's knees. BUT if you enter now and they get the Zinc going then there is a new game afoot. ATB BH
Truth is we both want ROCK to do something worthwhile, and the dire SP track record to reverse, agreed.
But personally I find it rather strange that the two Cu prospects that were so heavily plugged by many Am Geo types (as well as the management here). Has come to so little in the last 2 years..... Nevermind the original Au find.
The Cu grades were very poor, the then lower drilling touted pretty much ignored, and the second prospect not seeming worth following up despite Cu being a likely big selling point?
Again, & when some of us commented on the above we were shouted down. No no, the low grades are fine if on enough volume and Open Pit.... Then a change of tack to..... Actually the far deeper layers will be the main ore body.... But no we aren't drilling there to prove it.... We are off to Greece for a new opportunity..... Emmmmm...
The whole thing to many of us non experts smacks of Obfuscation frankly....
To develope a mine like the one discussed coincidentally on RMM takes what.... 8-10 years. So the money here has to be in pricing up something and selling it most likely I would have thought.
Wandering off and leaving the Cu prospects for a new Zn play maybe a stroke of genius.... But most of us, plus Mr Market don't quite see it as yet.....
Let's hope your optimism is warranted. But hopefully you have also learned a bit of a lesson here..... Making, sure fire imminent incoming SP predictions only gets peoples backs up!