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The cash flow study they did a while back had a top case of $20m but was completed with gold at 1720.
Sunshine are our ‘neighbours and have run out of dirt for ther nearby processing plant.
The work commitments total $2.9% which values our retained stake at plateau at £604,000
More importantly is the 50,000 near surface gold which at $1000 profit per oz is worth a total of $50m and so should the open pit operation proceed our 25% is worth $12.5m
Would appreciate your view and if you had any numbers. if we kept 25% or opted for the 1.5% SMR. At what stage does one option outweigh the other. Water drinker thanks for your reply. As luck would have it.
This should speed up the news from both rockfires Australian copper and gold investments and the Zinc and paladium Molaoi investment in Greece. This also gives us the option to retain 25% ownership of our Australian investment or 1.5% NSR. Whilst I would have been happier to see a percentage around 2% -4%. The upside is that the !.5% is based on NSR and not NPI so we will get any payments relatively quicker. All good news and this could be the start of a very nice recovery to .75-1p if we can get some positive news from Molaoi sp may start to motor. Anybody that knows the history will realise that this is very cheap.
Blachopper you are correct in you assumption I feel. They can focus on Molaoi now and rachet up the progress being made there. This may give us a new base for the sp in the mid twenties. time will tell.
Sunshine Gold Ltd don't seem to be in great shape, wonder where their funding will come from ?
If you're trading this there is a gap to fill up to 0.25p.
Perhaps the best RNS of recent times... shows they have focus on Greece......
And that shows they are very happy with what they see at Molaoi.
My trade from this morning is missing as has been a previous 1000000 purchase so the list shown here is often incomplete. Hmmm
Great, now that's out of the way, we can concentrate on drilling holes in Greece.
We like drilling holes. "Pass me another Souvlaki and i'll just dill another one over here".
Critically - "· Rockfire has the option to retain 25% ownership of the Plateau gold project by participating in 25% expenditure in on-going exploration, or the Company may elect to convert its right over a 25% share of the Tenements to a 1.5% net smelter royalty. With this structure, any discovery success by Sunshine will directly benefit shareholders of Rockfire."
"Rockfire has entered into a binding heads of agreement with Sunshine Gold Limited ("Sunshine") to advance the Plateau gold deposit in Queensland. Sunshine is listed on the Australian Stock Exchange (ASX:SHN)."
A Rockfire Resources Non Exec director.
Patrick Elliott
Non-executive Director
Pat Elliott is an experienced resources and industrial company director. In a career spanning over 45 years, he has held senior executive positions with Consolidated Gold Fields (Australia) Limited and Morgan Grenfell Australia Limited. Pat has an MBA in Mineral Economics from Macquarie University, and a B Comm from the University of New South Wales. He has extensive management experience in a range of fields including manufacturing, mineral exploration and oil and gas exploration. Pat is currently Executive Chairman of Argonaut Resources NL (an ASX-listed copper explorer), Cap-XX Limited and Tamboran Resources Ltd. He is also a Non-Executive Director of Kirrama Resources Limited (an unlisted explorer and developer of chromite and manganese projects in Madagascar).
A 3% holder I thought would be good news. Interesting if he had a mining background. Well welcome and grateful a large investor can see the same potential as us smaller holders. Goodluck all rockits
the same dodgy game. Commodities assumed to
be there. Dreamers end up without any share.
Investors lose, short sellers gain. That is the
game on dodgy AIM.
:-))
You have me panicking already chrisobrien.....lol
You seem to have your caps lock stuck on, or do you need a hearing aid
No need to shout obrien, we all still ignore you :-)
THE BOD WILL HAVE THE BEGGING CAP OUT SOON YET AGAIN FOR MORE MONEY
HEARD THIS ALL BEFORE BUST THIS TIME NEXT YEAR
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.