George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. 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.
antsquasher, you should cast your eye over rns 29th aug 2018 , you may find it illuminating or further adding to any confusion depending on how you look at it . gordie
He stated the lower grade dirt that is being processed first to "fill the nooks and crannies" in the equipment was identified as they stripped back Fairbride to start building a stockpile of feedstock. So it won't be from Guy Fawkes or Boa Esperanza..... they are both being worked under a separate contract by different contractors anyway. I cant see how they can now start feeding the MMP plant.
I'm hoping the 3 areas of interest are 3 new areas
Empress might have an agreement based upon the processing plant .... their funding was to get it up and running anyway......
So any further finds that the plant processes is probably their follow on revenue.... but as you say.... doesn't affect our cut.
BE and GF are already being exploited by a different contractor.... im hoping its other areas yet to be drilled..... but still under our license.
Would love to know more details though
I thought our hard rock agreement was now with MMP (FB GF DL BE) but was originally going to be with Omnia. I dont think we have a current agreement with Omnia as the MMP agreement superseded that with Omnia. Is there a connection between Omnia and MMP ? I know we have subcontracted out GF BE and DL (ourselves and MMP getting a cut) so I'm not sure what interest Empress have outside of their agreement with MMP regarding FB. I'm not sure if there is enough cake to go around for them to want a slice of anything other than their FB agreement with MMP (which is basically nothing to do with us and is between themselves and MMP). Does anyone know what involvement Omnia now has on our Manica patch ? Does their plant that needed upgrading have anything going through it that it is not benefitting XTR ?
https://www.youtube.com/watch?v=iQ5XWhIe2gU&t=5s&ab_channel=RedCloudFinancialServicesInc
It was in the interview. 9mins in. The question is what were the three other deposits they were talking about when they said going after them? My guess is it could have been DL, BE and GF??
"My thoughts are that Empress generally add value where there is already value and de-risked. If there is much drilling to be done still, I don’t think it would maybe be for them"
I agree with this. Thats why I think it possible that the "three other deposits" Empress talked about could well be DL, BE and GF. Would we not have heard about other drilling in the area in addition to the three deposits we know about?
That said, I may well be adding 2+2 and getting 22.
Antsquaher many thanks for bringing some fresh input, good to know you are a long termer.
Do we know where these other resources sit in terms of being ready to be mined or their evolution. My thoughts are that Empress generally add value where there is already value and de-risked. If there is much drilling to be done still, I don’t think it would maybe be for them.
There is no doubt over the whole license huge potential for investment that would potentially suit their usual strategy of “investing in mining companies with development and production stage projects who require additional non-dilutive capital.”
Reading the ‘2018 Hard rock collaboration agr. update’
>> A number of these sites (Guy Fawkes, Dots Luck and Boa Esperanza) have under prior ownership had some exploration drilling and mining activities but none of these sites would justify the construction of a plant solely for their production. <<
Is intriguing to know where Empress could fit in and how lucrative it could be for Xtract going forward.
Ant somehow I missed Andre and wasn't aware of it being discussed by Colin. I'll have to look into it further.
I've been informed that Cleantech (Lebanese) are partners of MMP but I'll need to look into this to corroborate it.
Cheers
Great find Ant
Some of those old workings have intriguing names. I particularly liked
Two Fools,
Birthday Gift,
Donkey and
Laugh
Baobab were bought out on hostile take over
Ascot may see an infill drill programme of the high grade part as well as RC, as was hinted they would do so by Colin. Could that imply working toward a second conceptual pit? I think so, as there has been a metallurgy test work sample already taken with plan to take further sample/s from Ascot which is normally only done when mine planning and for financial evaluation. As it has been made clear that both pits are being looked at as being completely separate, they would want to show economic viability on individual merit, and for pay back possibilities of CapEx for both too.
ART, I totally agree about the 2Mt. I think a 1.0-1.5Mt mine can be perfectly profitable (though the more the better). Even better would be if Ascot can then be mined without having to pay for any capex.
Sorry, I hit the wrong key and my post posted itself before I was finished.
Let me continue.
If XTR does hit the 2 million tons of contained copper that will have an in-ground value of a staggering $18 Billion - more than twice the value of the GGP asset when their m/cap hit its high.
Even if XTR only have 1 million tons of contained copper, at maybe a higher %, then the asset will still be worth a staggering $9.5 Billion and still more than the GGP resource at the time of their JORC.
This is what CB was getting so enthusiastic about and in truth it is only because of the target set by Anglo American, which possibly is more than they thought is actually going to be there, that the project has such a lowish valuation.
Unfortunately, the 2 million tons of contained CU has become a bit of a millstone. 1 million tons is a huge prospect, 1.5 million tons even more so, but the way that AA have left it if the target falls short it will be as if the project is almost worthless.
At times during last week's podcast it sounded as if CB was getting a bit carried away when he kept repeating how big an asset XTR have in the Bushranger prospect. However on thinking about it I see where he is coming from and that it is actually just the market that is underestimating and undervaluing the asset. Also some of the confusion must lie with the way that AA left this prospect under the previous ownership.
At the time of the GGP maiden resource estimate the m/cap rose to well over £1 Billion and the in-ground value of the JORC'ed resource was around $7 Billion. If XTR
'Colin has also made several comments about Manicas surrounding properties in respect to alluvial mining'
AS - now that you mention it I vaguely recall him saying something like that. Makes sense, although I wonder how much we'd get from concentrate not on our licence.
Still, we have ~7 years worth to churn through at FB so that will keep them busy whilst they sort out other deals.
Sherron said “The three other ‘deposits’ they are going after”
Could Empress be looking at their usual capital investment, bigger plant to increase production capabilities at GF,Boa and DL
All parties would gain
Gixxer I think you're correct about own processing equipment for other deposits.
"Currently, FB plant is designed to handle only oxides, Chinese partnering with Explorator on Sulphide prospects are likely using cyanidation on a very modest scale to treat their ore."
Reading that it looks as if it is based on Manica rather than Fairbride. Apologies for not keeping up. Too many deals !.
Has some info on targets and exploration work.
https://www.proactiveinvestors.co.uk/companies/news/44033/auroch-minerals-ahead-of-the-game-with-mozambique-gold-project-acquisition--52540.html
This mentions the satellite deposits but it is unclear if Empress will benefit.
https://empressroyalty.com/site/assets/files/6157/emprnr2021-13_manicaclosing.pdf
The sedar report produced for Empress in March last year only covers Fairbride.
Your theory does make sense Andrew - I imagine we would have been informed had the geo's been doing anything more than 'turning over rocks' at Manica.
Saying that, I imagine they will be full gas processing FB ore. Would they have to wash out the whole plant to run the Chinese, satellite mine, ore individually to ensure separation of gold?
Just curious but why would Empress get a royalty out of GF etc ?. Surely there contract is with Fairbride.
But could that % for MMP not be increased and agreement not be changed if FB was used to processes the ore? The "three additional deposits" did seem to imply the known three in the area?
Maybe the recovery in new state of the art plant would be better for the Chinese to use? Or nearer?
I could be way off here and maybe the additional three deposits are all new.
As I say, just a thought, until we get some clarification?
Back in 2011 Jan said
"Jan Nelson, Chief Executive Officer of Pan African, commented: "The Manica
project now represents a 3Moz deposit, which is significant as there are not
many gold deposits in Africa in excess of 3Moz, which outcrop on surface.
Significant strike-length remains to be tested".
But don't tell Ant, let him buy UK gilts as someone needs to. Gold going up, sterling going down. Every little bit helps as they say.
'Seems more than a coincidence that there is three satellites near: DL BE and GF' - Could be, one would imagine the Chinese already have processing equipment on site as we have had some gold out of the satellite mine.
Just had a look back through some RNS's however there's next to no info: '· Guy Fawkes development continued during the period '