Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Rockfire like to release large numbers of little news over a short period of time. They've said "a number of weeks" for the results to come back so I would say max it takes for it to come back is mid-March.
Strong hold if you're in.
Thanks again everyone.
Much more of an understanding after the below info and also A few of the last RNS’s.
When does the rainy season finish ( I know below was mentioned 1-2 months )
Also the recent drilling that finished and went deeper finished a couple of weeks back. Do you guys recon all the results will come in one go or drop fed ? And also when ( surely 1-2 weeks ? )
q. Drilling ongoing currently?
No, they've stated that they'll restart drilling after the rainy season.
Me very, very busy on Friday!!
I will try to answer the questions.
Q. Rock is working towards an updated Jorc, is many more holes needed for this )
A. Rock could possibly do an updated jorc now, but the more drills done, the better the update. And so I expect one more drilling round, which I expect to be extensive infill holes, before an updated jorc.
Q. What was the last jorc and how long ago?
A. The only jorc figures were released in the rns 4th July
Q. What is anticipated new jorc in Million ounces ?
A, I expect the next figures to be in the hundreds of thousands range, and clearer coverage in the indicated inferred measured catagories.
Q. Funds ? Is there a raise due ?
A. No. Some warrants have been exercised, and there are outstanding warrants, (at 1p and 1.5p) which I expect to be exercised. The point is that Rock have enough money in the interim.
Q. Next assays due? And for how many holes ?
A. Six holes were drilled in January. It's important to remember that the original plan was to drill some holes at depth and then drill shallow holes, but they changed to drilling all of their holes to depth, and this gives me confidence that they liked what they saw as they were drilling otherwise they'd have stuck to the original plan.
Tom
I'd take that as a good sign. No news is good news ... I'd take a break and do something more interesting till the next RNS drops.
Really glad we have so much exuberance on here !!!!!!!!! what !
Be nice for a few posts for a bit of confidence before everyone exits. What is going on here, JUST a question as there seems NO interest whatsoever.
Good W/E to all hope somebody posts Monday !!!!!
Thanks Trumpy
That’s very useful.
Certainly seems very positive and yes even at a 1m resource and no mine needed ( similar to GGP and telfer trucking distance ) this could be huge and certainly see 4-5 times this MCAP on this one asset alone.
Does anyone else know more about how much more drilling is needed / funds ? Possible raise?
Hi cventer I will try and answer your questions to best of my ability but hopefully others will add :-
WIth Plateau the following rnses tell the story so far
Lighthouse had a Jorc of approx 50k oz 04th July 2019
Raised 350k to continue drilling
26th Nov Drilling intersects major Gold system at Plateau
3rd December Drilling discovers more gold 120m east of BPL025
10th December Large deep target identified
18th Dec high grade gold under plateau resource
20th Jan drilling recommences at Plateau
27th Jan drilling intersects strong sulphides
So we are waiting for the drill results from 20th Jan which was much deeper drills. There prob then be a month or two gap until drilling starts again due to rainy season in Queensland. When asked about targets David Price has stated in interviews that the geology and everything about it and of course location is pointing to a Mount Wright lookalike which is over 1mil oz. He has also stated that by year end he hopes to have completed a scoping study so I guess he is going to be aggresively proving up this resource relatively quickly. As for raising money I don't really know some was raised with the warrants and I guess perhaps some of the shallow gold could be used to fund further exploration at some point. An interesting point is if we do end up having a Mount Wright deposit then we have 3 mines in trucking distance so don't need processing plant and going by Numis valuation of GGP at $100 an oz even though alot of ours is shallower and easier to get to so should maybe be worth more but even $100per oz could mean Plateau could be bought for $100mil current mcap £7mil so potentially quite a large upside just from this one project. Rock has many other exciting projects also that we are hoping to hear news from soon.
Peeps
I have been in and out of rock before but been on a couple of spikes.
Think there is much more going on and considering a longer term invest.
Wondering if someone / multiple people can give me a bullet point breakdown of current events.
I know
Rock is working towards an updated Jorc but can’t see more than estimates of June ( is many more holes needed for this )
What was the last jorc and how long ago?
What is anticipated new jorc in Million ounces ?
Funds ? Is there a raise due ?
Next assays due? And for how many holes ?
Drilling ongoing currently?
Just trying to expand knowledge as research is slow and good so far but you guys on the message board and invested have been following for much longer than me.