Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I was wondering whether the next drilling phase will focus on RC, Ascot or be new drilling in the suspected porphyry west of Ascot (lets call it West Ascot for now)?
This boils down to which is going to be most profitable: partially improving the JORC of RC from mainly inferred to indicated or new drilling in Ascot or W Ascot to create an inferred resource. I ask as it was mentioned that Iceberg had said that a major miner would only consider an inferred resource as being of 50% the value of an indicated resource. Have to admit I missed that nugget. Any thoughts?
What is certain is that only converted mineral reserves can form the basis of a PFS. So infilling to upgrade the part of the resource that will support the initial CapEx recovery phase will have to at some, or a later point need to be done. Recall CB himself even saying in a podcast last year that they will likely end up with a near surface drilling programme.
A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource and is defined by studies at Pre-Feasibility or Feasibility level. They demonstrate that, extraction could reasonably be justified and support a realistic economic assessment that inferred resources do not.
It may be a long haul to a PFS and may not be achievable with just one last drill phase if they are to increase the resource on the margins of RC to increase tonnage there. The most recent comms have just pointed to work focussing on optimising RC, for now at least.
Thanks howezap. Yes, I think there will be more drilling of the crown on RC but would also like to see some work on the W Ascot potential feature as that could be a whole new resource.
Ahh yes Cygnus the western lobe identified in the 1st round of geophys! Here’s a reminder of what else is in that sweetie bag.
??That western lobe. ??
The solitary borehole 33 drilled into an eastern outlying anomaly and see it hit 15.5g/t over 2m has great potential and assay summary said it warranted follow up drilling to test strike length and dip. ??
Holes 38&39 identified 2 near vertical mineralised gold structures with indications they increase in width and grade at depth. Also warranted further drill testing.
??Footrot saw two boreholes that indicated was close to a further mineralised porphyry ??
Early indications of deeper porphyry under RC ??The new geophysics identified two ‘new areas’ of interest and also significantly identified a fault up to the north east of RC but here, maybe will see some more drilling to increase resource there. ??
So much potential that will be unlocked once a viable development and mining scenario can be found to present to AA with PFS. Getting to that point is still a priority whilst adding value in the process. BR is a monster in waiting.
Ignore all the question marks, remarks are not questionable they have all been identified and reported of course.
It’s just me! ;-)
There's the potential for something big in that anomalie and I'd hate to give it away only to find it's a hum-dinger!
By the way, everybody seems to be profit taking at the end of the week - gold and silver getting hammered after a good week.
>>Many bought in on his forward guidance when the sp was double what it is today.
Yep Andrew, I sure did! Still happy though with all my purchases from 1.5p recently to 7.2p. Lucky enough to have managed to get my average to sub 3.5p. Have you been buying recently, I know you had a mammoth journey in averaging down pre BR which was commendable to say the least.
I think you should rename West Ascot to West Acton!
Looking back at Caravels copper projects pathway to pre-feasibility study for comparison to show how more favourable BR‘s pathway could be that should see far less drilling required for starters.
Back in June ‘20 Caravel had a resource with 212 million tons of indicated and 104 million tons of inferred resource.
Just prior to this, they had a $2.85m placement for drilling and early stage PFS work. From then over the next two years, they had two further share placements that had raised $16 million for diamond drilling to increase the resource and RC drilling for mostly infilling to upgrade.
Since 2019 to get to the ore reserve that their PFS is based on, 105mt measured (proven) and 485mt indicated (probable) with 1.42mt contained copper, comprised of 7740m of diamond drilling and 20,223m of RC drilling.
The main difference is that Caravel have had the necessity to upgrade, mostly all of their resource to create a positive NPV model due to the general absence of any shallow higher grade zone in their pit model that RC has. So it may only be necessary for Xtract to just create an early phase mine plan to show that the initial high grades will make the mine economically viable. This has generally been the direction that further work is pointing toward. It could well be that only the 191 million tonnes higher grade part of RC would need to be upgraded to convert to an ore reserve that the PFS will potentially be based on.
Another significant difference is that caravel are not going down the bulk ore sorting route, there has been no mention whatsoever from historical news so would surmise that the sortability of their ore type is not amenable to the new technology . Alternatively, they have optimised the delivery system and throughput reducing some CapEx. They have currently raised a further $15m to go to DFS and funding. They currently have a $142m MC without any incoming revenue stream.