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Does this explain the recent change to joint advisers? Not sure how beneficial this is going to be to the SP but certainly demonstrates management confidence going forward.
Share buy back for 1 million shares should mean the downtrend is over. The co directors sense this is a bargain basement price with a yield above 7% and expanding operations.
TSG is a trustworthy UK company - many here think wrongly that it is Russian
This is what the head of TSG has to say "As with environmental performance, the poor health and safety record evident in much of Russian industry has largely been a consequence not of inadequate regulatory provisions but of inadequate enforcement, inappropriate management practices and an adverse safety culture."
Norilsk is a Russian company - Responsible for a huge Oil Spillage and Plant Collapse
The head of Norilsk Nickel has since admitted the company is likely culpable for the collapse. “This accident was presumably due to a gross violation of safety and industrial safety standards by the heads of the enterprise,
A lot of money is being invested to prevent incidents like this, he added. “Apparently, our efforts are not enough.
Noel your comparison is as strange as your own statement
"I hope the company is ensuring that everything is in order, no more accidents"
"who have taken everything into account" - that's good and I do see see TSG as well run company with high standards of compliance, etc. but I'm sure that the company that was fined - was it Norel Nilsk? - also made the same statements about doing everything right. Accidents happen - as we, very sadly know.
I'm not seeking an argument here, I only posted the link FYI, but my point about the company that was fined is valid. We see it all the time in not just mining and not just in industry. Not talking about TSG now, I'm talking about life in general, companies, government departments, hospitals and others have very fine words on their web sites about how they do everything right - then something happens, things go wrong that show those words as hollow.
That report is one of many buried on the TSG website. You will find it, like others, under the ‘Environment’ link, although it may not show up under a general site search. The company is head and shoulders above most AIM companies.
Thanks for posting Art; very interesting report although it is quite old. Interesting to note all the other minerals mentioned. Well worth reading.
http://www.trans-siberiangold.com/media/1128/eia_complete-1.pdf
This is a highly respected British mining Company who have taken everything into account including Safety First, Social and Environmental issues even before they start to mine anything. Read the latest RNS regarding the prefeasability study to see the amount of work these guys do before they pick up a spade.
I hope the company is ensuring that everything is in order, no more accidents -
"Russia backs 'radical' plan to block profits of companies that destroy environment, after fining mining giant $2bn over fuel spill "
https://www.rt.com/russia/516436-government-plan-ecology-fine/
Not to worry, all our attempts at understanding the resource help enlighten the situation.
IMO all mining companies skirt around the true interpretation of the data and providing the data needed for investors to fully asses the real world opportunity .
V25 has the potential to be a fantastic producer, but we get as much information here as any other listed small mining company provides and based on that I believe TSG will make very substantial profits.
All assuming the Russian authorities don't impose severe penalties/ working restrictions associated with the recent fatalities - that's the real threat at the moment.
David - I am wondering if I misunderstood your aim in calculating the average g/t figure, and so wrong to say that it is of no value.
I took it that you were suggesting that 46 g/t is indicative of the entire resources in the Vein 25 district, but I am now wondering if all you were trying to show was the average value in the core samples.
If that is all you were doing, then, of course, your calculated figure will be correct - however, did you take dip into account?
Apologies for any misunderstanding.
David - sorry to tell you that your calculation is of no value. The calculations aren't as simple as yours.
I am not a geologist, but I used to provide IT support to a team of geologists when computer modelling was introduced. I sat in on discussions as they made their interpretations of drilling results, aided by the software. Note - interpretations - the software didn't give answers, it just aided in making the interpretations.
david - a very nice thought but perhaps a td optimistic, if your right I'll mortgage my house to load up with shares - I'm not sure there is a mine in the world of any scale getting that grade overall.
Sure the grades are excellent and if we average 10g/tonne they will be throwing money off an world class- remember how a underground mine works, access workings need to allow miners and equipment to get through so they have to take material of various grades, not just the high grades. Companies always just highlight the high grades sections, but also important are characteristics the depth, thickness, gradient, consistency (do they have to go through barren or low grade areas)
I posted about grades in December, here's an extract:
"The gold grades reported from our recent exploration are exceptional and potentially world class. if the grades prove persistent and the company can keep the production clean from debris from associated mining then we could become a top ten underground producer if the milled material produced > 10g/tonne
The linked article lists the top ten producers of 2020 in Q1, clearly the ones at the top of the list are truly exceptional (42g/tonne for the best simply look like they've got a licence to print money) but generally it looks like 10 to 15g/tonne covers most of the top 10 are indeed world class.
Notice not one mine is in Russia
https://www.kitco.com/commentaries/2020-11-27/Highest-grade-underground-gold-mines-in-Q1-2020.html
"
As an exercise I calculated the average g/t figure for V25 (sum of grade x metres divided by total metres}. It comes out at just under 46 g/t. The value is there, the only question is when !
everyone is entitled to their opinion..... for you to say the other posters here are processing with the capacity of a plant is some broad brush statement imho...but just your opinion, of course .. so here's an opinion back to you : that comes across to me as arrogant in a masters in arrogance sense more than just a degree in it :-)
Gold price up today. Back over $1,800.
Meanwhile the posters on here are processing with the capacity of a plant .... full of sht
I've topped up as the Gold in Vein 25 isn't going anywhere it's still all there on the books and mining will resume after a suitable time. In the meantime production is ongoing in the main zone and in the processing block. ie They are producing gold and selling it at a profit.
They already have last years windfall profit in the bank but can't yet declare a dividend as this would be highly disrespectful and neither can they shout about the latest RNS which they watered down, when most know they have a further 1moz from Rodnikova to add to the pile. This is a British company who abide by all the rules and regs and are well trusted and respected.
Quite a large bet -
19-Feb-21 11:45:36 94.50 149,495 Buy* 90.00 92.00 141.27k
Vein 25 will re open at some point I'm confident davidpqz.. when that is and under what - if any - amended working rules I have no idea.. I'm guessing the tragic accident investigation report will have action points that take some time to implement.... so we could have months instead of weeks to go before re opening for eg. Therefore, alas, I see clear potential for further share prcie weakness here.. but ongoing other than Vein 25 activity would help further falls from here be relatively less significant, hopefully . But my guess is this s/p can readily enough go very deep into 80's p for eg.
The good news this morning is very welcome but is more medium/long term in nature, and indeed could also interpreted by some as an attempted filler in the knowledge that good news is still a ways off regarding Vein 25 re opening.
IMHO
Vein25 -
Level 200: average thickness of 1.6 metres with an average gold grade 56.2 g/t
Level 170: average thickness of 1.4 metres with an average gold grade 51.4 g/t
from -
https://www.investegate.co.uk/trans-siberian-gold/rns/vein-25-development-update/202007100700026024S/
" Vein 25 has presented increasingly higher grades, as demonstrated by the highest quarterly gold grade of 10.3 g/t achieved during Q4. Improved gold production was supported by a very favourable gold price throughout 2020, and I am delighted to report record annual gold revenue of $81million. With a strong balance sheet and available liquidity, TSG is well positioned for future growth.
Our immediate focus is on analysing the recent tragic rock fall accident at Vein 25 and taking the appropriate remedial action. We are deeply saddened by the accident and reiterate our condolences to the family and friends of our colleagues; we continue to support them in every way possible. Significant work is ongoing to understand the causes of the accident and once investigations are complete, we will advise on our plans to recommence mining at Vein 25 and provide full year guidance. We are committed to ensuring a safe workplace for all our employees." "
from -
https://www.investegate.co.uk/trans-siberian-gold/rns/q4---fy20-production-update/202101190700040943M/
Vein 25 has the very high quality gold deposits. It has been six weeks since the mine collapse. Six weeks of no V25 production. The results of the investigation may result in mine closure in the worst case or the reopening of a mine with tremendous ootential.
Place your bets. Or, if you've got some info, please do share it!
Unfortunately the sector is taking a beating this past fortnight. Leaving aside the update for one moment, it's gold production today and this quarter the 'market' are interested in. By using apostrophes in this way I'm implying the wider retail market either isn't aware or interested at this very moment in time. Gold bugs will more often be first to benefit when positive developments such as this come around as we tend to be better informed than those who are naturally overweight in other sectors. It's the same with block chain and crypto bugs of which I am not and therefore cannot offer any meaningful thoughts to that debate.
Rodnikova Project Scoping Study
Highlights include
· Life of mine ("LOM") 14 years based on Resources estimate of 6.3 Mt at 5g/t and LOM gold production of 517,000 oz. at an average of 4.03 g/t and silver production of 3,062,000 oz. at an average grade of 28.9 g/t
· A very high cut-off grade of 3.5 g/t based on a conservative gold price assumption of $1,250/oz leaves ample room for higher production at higher mining costs.
· Revenue forecast of $715m assumes 517koz gold and 3moz silver based on $1,300/oz gold price and $16/oz silver price. If we assume prices will be close to what they are today, $1750/oz gold and $26/oz silver revenue forecasts come in at $980m.
· LOM Free Cash Flow based on $1300/oz and $16/oz silver of $126m or using the prices similar to todays actual prices FCF rises to more than $300m
· Low initial CAPEX of $82m and a further $50m development over the course of the 14 year mine life.
There hasn't exactly been a lot of buying on the rumour either!! More to do with POG myself
Actually gold may be formed by an even rarer event than a supernova. The latest theory postulates that the majority of gold in the solar system has come from an incredibly rare event that happened eons ago when 2 neutron stars collided.
Take that bitcoin pow - zap !