George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Don’t forget Footrot test holes as well - really looking forward to seeing them.
Not expecting any of these until end of Sept at the earliest or silence if they’re poor.
The calm before the storm. (I'm sure I've said this before). Björk is in town singing her favourite number.
Anyway, it's been a long while since the outstanding holes were completing. Bearing in mind we have the assays back from 53 and 54 (the final RC holes), it doesn't take a genius to work out 47, 48, 49 and 50 were more than likely not amazing. 53 and 54 were released 35 days ago. So which is it? Not great or holding back?
Intrigued by 49 though, why continue for 915m if it wasn't interesting.
Also need to hear back from the follow up to the 35m of gold we hit earlier, the drill iceberg described as "down the throat".
Shhhhhhhhh !
bit quiet here today
Sorry, not exactly relevant to xtract directly, but more toward the future of the mining industry. Particularly in Australia, that although are very tolerant of mining, they also have some of the most stringent environmental legislation in the world. It is this type of energy transition solution that will be a requirement for permits to be authorised in the coming years.
>>Certainly one way is through innovations in renewables and battery storage solutions, on site modular electrolysers up to 100MW that convert water to Hydrogen using renewable energy from on site wind and solar power, could well be one solution that will fuel the machines that extract and transfer the ore and also fuel the production processes and facilities.<<
The very latest technologically advanced modular units use ‘only’ renewable energy. One in particular with it’s very own patented technology, ‘Proton Exchange Membrane.’ An advanced technology that converts to green Hydrogen in either Gas or liquid form. So it can even be used for grid balancing too by release into the gas pipeline, used as clean vehicle fuel, or in a host of industrial processes, significantly reducing emissions in logistics and heavy industry. As they can be switched on within seconds, PEM electrolysers have the edge in being able to rapidly react to fluctuations typical of renewable power generation. In comparison, the start-up time for alkaline water electrolysis is around an hour, making the latest technology ideally suited for grid balancing and meeting energy deficits too. A big tick toward those approvals.
The tech does not need to play catch-up to meet the clean energy demands of different industries, it is already in place now and appears to be a perfect solution for the mining industry.
The April May June target was kind of blown out the water with the analysis of Ascot showing multi porphyry potential. As it did too in relation to, supporting the earlier analysis from some assays at RC that showed deeper intersections of copper, pointing to further porphyry below the main body there.
It’s not difficult to understand the decision to extend drilling in phase 2 in what is an evolving understanding of the geology and what that implies to how they go about the resource building to get the project in the best possible position to achieve maximum value down the line.
Talking about a sale is a bit premature anyway considering we haven’t had the updated for RC and the initial resource estimate for Ascot yet. So it ‘is’ fair to be realistic in just hoping the company deliver on that first.
Let’s see where it sits first, then we can all reset once again. Looking forward to the ‘told you so’s and of course, the Doh’s’ But at least will all be on the same page………. well, for a day or two at least.
"Realistically what we can hope for at this stage after waiting all this time, is there are no delays in the models finally being released."
Hahaha ha is that comment supposed to be a joke?
Actually howzap, some believed it would be sold in May/June. If you want to talk about misleading maybe you should call Colin out on his misleading!!!
And I said October or November.
Well howzap that's how I perceived it. They will trigger the decision to mine and AA have 30 days to buy it or leave it...... maybe buy it if!!
I'm saying Colin and the team won't do it when they said because AA will have to make the decision with copper prices low and that's not ideal especially with a recession that everyone and his dog can see coming. Copper goes down with a recession but this time I think it will only drop so far because chine as o e example will start buying and hoarding it.
That would be a little misleading to suggest some believe it will be sold in October. His comments just support that maybe, they will be actively getting the modelling finished to get it in front of AA and as per Steve’s AGM feedback notes to get their first rights of refusal options out the way as soon as they can. I’m sure there are some that are ‘hopeful’ of a sale in Q4, Colin is still probably one of them! But believing is a bit different to be fair.
Realistically what we can hope for at this stage after waiting all this time, is there are no delays in the models finally being released.
Lucky520
Posted in: XTR
Posts: 1,609
Price: 3.95
No Opinion
RE: Empress Royalty update re Manica10 Aug 2021 11:20
It will be Q4 2022 lol
Looks like this week is the start of the fall from the bear market rally. We are heading into a massive recession. Copper will fall over the next month or so but it will recover quickly and we will see all time highs next year, hopefully in the first quarter. The gold price will drop too but that will turn quickly as it does in recession.
For the reasons above, I do not see bushranger being sold in October or November as some believe, I don't think it will be the best time to maximise value.
I dont buy Colin's suggestion that the Chinese manipulated the lockdown to put a lid on inflation.... personally think that's a crazy suggestion.
But what is certain, China used some of their strategic reserves to take the heat out of the copper spike earlier this year (that exercise failed to do more than pause the price when it was rising), and now that the price has dropped back down to current levels there is evidence that they are buying more than their (current) demand.
If China are refilling these reserves at todays prices it tells you where they think the price is heading from here........ Up!
GLA
Colin with Zak on Friday on one of his other company updates. He speaks openly on copper and china. Stating the Chinese, ‘They couldn’t suppress it for very long , and I see it now creeping forward now at 8.2 8.3 and that’s a very healthy price, and it’ll do for me in any of our projects…………… anything over 8000 in todays economics is a good price.”
It’s a strong signal at least, they are comfortable to actively market Bushranger as implied in year report when modelling is ready for the market after a full phase 2 assessment and evaluation.
Come midweek, that’s August done and dusted, where did that go!? We are talking in weeks not months now to see the results of all the hard work over the past 18 odd months. Finally, where the project sits in terms of scale and the overall quality of the data that will be presented.
So I think from his comments at least it does suggest they are not likely to be dragging their heels to get to that position as was a suggestion that they might do while they wait for copper to recover back up to the levels before the slump.
From 8min30sec
Xtract are not mentioned at any time btw. But his comments above are no doubt toward all his other companies copper projects. Although I can’t help feeling he was thinking of BR to some degree!
https://podcasts.google.com?feed=aHR0cHM6Ly9hdWRpb2Jvb20uY29tL2NoYW5uZWxzLzUwNTExMzMucnNz&episode=dGFnOmF1ZGlvYm9vbS5jb20sMjAyMi0wOC0yNjovcG9zdHMvODE0NjUwOQ%3D%3
* I am not invested in any other Colin bird companies and have only posted the link to support my post.
Even the very industry that will be relied upon to delivery the huge rise in copper demand and other battery metals is driving the need for change to a cleaner, more efficient and sustainable alternative to fossil fuels.
Over the decades, global copper production has roughly doubled every 25 years since data started being recorded. To meet the increasing demands for metals has already made the mining industry one of the most energy-intensive industrial sectors. Let alone going into the next few decades of global electrification. According to the International Energy Agency, between 8% and 10% of the world total energy consumption is dedicated to the extraction of materials that society demands, and that number does not take into account metallurgical processes, transport and other mining-related activities.
That is an incredible statistic that I came across, that needs to be reduced in future mining projects if the new discoveries and even previously shelved mines, are going to socially and environmentally acceptable, above being viable.
Certainly one way is through innovations in renewables and battery storage solutions, on site modular electrolysers up to 100MW that convert water to Hydrogen using renewable energy from on site wind and solar power, could well be one solution that will fuel the machines that extract and transfer the ore and also fuel the production processes and facilities.
The industry will need to play its own part too if it is to supply the increasing demand to help the world decarbonise and achieve net-zero. Copper will be at the heart of it all.
Right*.... oh the irony haha
Yes I see that, prices go up at well as down. I stand by the all time high in 6 months.
It probably went down because two or three people posted negative comments on a bulletin board lol. Isn't that Wright?
My prediction of the jorc in September 2023 is still looking good.
As soon as you said that, Copper started falling and is now back at the opening price :)
Coppers rising nicely today. Inventories will be dwindling soon. New all time high in the next 6 months is my bet.
Hi IWTO thank you for correcting me on that one was sure it didnt effect the resource estimate! It’s obviously the recoverable ore and not the total mass of rock.
Sometimes the obvious can be right in front of you but just don’t click. Cheers
I’m still hopeful of decent copper from the bulk of the lower grades. My theory is based on some research that suggests the disposition of the lower grades that ore in the higher grade crown are not proportional to its disposition within the lower graded parts of the resource. That is, the higher graded parts of the resource has more concentrate of higher grades than lower, particularly within the crown.
I’m hoping from the new modelling it shows a greater percentage increase over the conceptual study figures. Wether or not it will actually have a material effect on the amount of contained copper is to be seen, but in theory it should.
I have been doing some research on it for what seems like months and tbh I’ve lost the will to live! Every porphyry is different.
Cheers
Guy
Hi Howezap, the cut-off certainly does affect the resource estimate. With a 0.3% cut- off, anything below 0.3% is “waste”, anything above is ore. When the cut-off is reduced to 0.15%, the material between 0.15% and 0.3% is now treated as ore, with the amount of waste (and strip ratio) correspondingly reducing.
Going back to the July 2021 model, we originally had 71Mt at 0.44% yielding 0.31Mt of Cu. When the cut-off is reduced to 0.15%, with no other changes, the amount of ore increases from 71Mt to 162Mt, now yielding 0.41Mt of Cu. It’s all there in the RNS. That’s why I think we probably have more than 500Mt of ore - we have one third of that already from the JORC’d resource, with P1 and P2 drilling in addition. Cheers.
Matching vol with trade on 4 Aug @3.45 which was discussed due to TNCP indicator
TNCP trade type so likely investment firm. Probably needs someone with L2 to determine buy / sell
25.08.22 11:49:46 3.75 GBX 2,100,000 78,750.00 Off-Book TNCP ECHO XOFF
That should be "over" not wrong!