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Do you know dave langly?
Yeah you said before Napthman. As I say, Office in Bolton (yippee) but I live near Middleton Nth Manchester. Once the restrictions get more sensible, we'll have a beer or three.
Rest will follow later this month :)
Bishop im in Stockport
Nice one Max. I can smell your excitement from my Bolton Office :( don't bother to visit though as it's probably worse than you think). It's just the timing of the rerate we are all getting in a lather about, but it's my birthday in September so maybe by then?
Silver is going to jump 29
Have you thought about answering my question Chris.
944T
Hi Max good to get something at last with the rest to follow. Was amazed how people suddenly jumped on the grading not being fully aware of what the DSO needed to be thinking it should all be over 60% which is the premium stuff.
I think we may see some results coming through from Capstone soon been just over 9 weeks since they started and I don't think the assay office have the problem like Aus with everyone wanting them. Fingers crossed.
944t
Have you thought about buying some shares in this company yet Max111?
I agree Max, all looks good to me.
Onwards and upwards.
That's a good point Joff1. Also the discount factor wasn't an "aggressive 60% discount factor", they had actually previously put on a super aggressive discount factor of 80%!
Plus they didn't factor our full est target of 245M tonnes, only 150M tonnes.
I previously worked out at a 60% discount our full est target of 245M tonnes (which TP previously said might have to be revised upwards) will equate to 6.5p/share.
Now that they say they will reduce the discount factor to below 60%, this will add a massive re-valuation.
I always felt our rise back in October was justified after they had completed the sampling work at Hamersley via helicopter support (RNS 9/10/21).
They were using handheld XRF meters and they knew the grades they were getting.
Bill issued an RNS on 16/10/21 to justify the rise and prevent a speeding ticket.
It was not a ramp, it was real, but unfortunately the TR1 Aznav Ltd wanted to take profit and exit.
We will now get a nice ride back up as the results are released this month.
surprised there isn't a interview today
Napthman1 -johnhume
Posted in: BIRG
Posts: 585
Price: 4.236
No Opinion
RE: UFO08 Apr 2021 19:18
down over £200grand on ggp from their January high - only paper loss at this stage. Not confident they will hit mid 30s at least this year. However, if I got out at top could nearly double my holding.
Also,
As TPI no longer mention our downside valuation, only the upside of £82.9M. Is this not suggesting we are now worth double (ie 2.4p), plus another 15% uplift on approx 75% of our assets (Hammersley £61.2M, due to increased ore prices) ie 0.18p. Giving us a new risk-off valuation of £90 Mcap or 2.6p or so?
Interested what others think
I believe ridges are targeted simply because you can see them with the naked eye!
As BIF is so much harder than the surrounding landscape, over time the softer rock and dirt is eroded, leaving ridges of essentially Iron.
Nature has done a big part of exploration for us :)
Careful Max - you will rust!
Don't do this to me Deanok. I'm starting to get Iron Ore fever!
Not going to sleep much with the excitement of the potential involved!
deanok , yes would be very interesting if a geologist here would like to speak on why they seem to target ridges?? is this where formations are most likely to occur vs flat land etc ,
Forgive me for getting way ahead on myself. I'm no Geologist, just an optimist...
What if Ridge E is Good?
What if it is just an extension of a bigger body?
I'm only saying this because I can see similarity between Sirius (Brockman Side) and the centre of our tenament. Figure F dead centre.
We are surrounded by massive Mines! They're everywhere! Follow the dream!
Lol. Very good point Deanok ;) That photo was page 28 of the company presentation.
Bill tried to give us the hint, but people miss it.
I'm getting very excited now. After reading Turner Pope's Research Note, this is looking very significant indeed!
I meant the old valuation, didn't see the new TP post.
Do you think it was AM21RC001 027 that was Bill's favourite Photo from the last presentation?
Only the Sirius Extension has been priced into Turner Popes Valuation.
Not long to wait until we get the Motherload results and a new valuation.
I agree Deanok. Looks like we have it the motherload at ridge E!
Fig 5 has a Schematic Cross Section of it.
"hole AM21RC001 035 on ridge E intercepted 47m of BIF while hole AM21RC001 024 also on ridge E intersected 44m of BIF so significant intersections have been made and associated results are KEENLY AWAITED"
"Assay results of remaining 36 drill holes expected during the month of May."
Can't wait!
Max Highlighted this earlier, for me this sentence is key...
'Significantly, the majority of assays awaited are from holes which have had significant BIF intercepts, up to 55m
widths and are expected to add significant potential to the project potential'.
Ridge E could be our gamechanger here.
max i don't know how to fully interrupt and i know we only have 1/3 data but the summary info examples he's given are below DSO grades which is a little worrying? 55-61% , isn't DSO above 64% cant remember , hopefully that 66m section goes on for days