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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 '
Hi Andrew
MMP already get 35% of the GF & BE income due to XTR from the contracts with the Chinese.
Cheers
James
Woodyer said there are three additional deposits. Seems more than a coincidence that there is three satellites near: DL BE and GF
Would it not be likely that the FB processing plant could be used for these other three deposits? The Chinese could still mine the Gold at BE and GF but its then processed at FB?? MMP, Chinese and Xtract all benefit?
Just guessing so we need clarification from CB.
We really could do with an INDEPTH DETAILED update on assets before the AGM!
Not sure TBH but the 'other deposits' comment is intriguing - I know CB has made the odd comment regarding the Geo down there, perhaps they already have areas of potential interest?
Thanks for the link.
I would assume the other deposit would include Dots Luck??
9mins in if you don't want to watch it all
https://www.youtube.com/watch?v=iQ5XWhIe2gU&t=5s&ab_channel=RedCloudFinancialServicesInc.
A new interview mentioning FB coming online shortly. Interesting to note that they discuss 'satellite' deposits.
'The plan at the moment is based on one deposit (I assume that is FB) next is three additional deposits. We were actually in Mozambique 10 days ago looking at the project. We walked the ground and saw where all the other deposits are that they plan on going after also. so we think this one is going to have a lot longer life. (not verbatim).
For newbies it should be mentioned that the Manica site is quite large and there's a lot of potential for further exploration when funds allow.
Interesting they are discussing other deposits. Cannot be GF et al as that deal is with another company, unless they plan to process?
It's really crap that we get this info from a 3rd party and not from Xtract! - Comms/pr is extremely poor considering what can be achieved with small effort through social media.
i think it was either something to do jan nelson getting involved or possibly the north sea thing
-'i do remember quite a few years ago these rising 175% one day ,can't remember what for.''..
Probably the one time CB met a deliverable....
I vaguely remember that too Gixer, but would go with the s/p rise cause probably being some speil about something bottom line big going live imminently far more than achieving a deliverable :-)
I'll get my coat too..
I agree with you joeman.
Why publish a detailed model of RC maybe + ascot that takes us over 2mt until cb is sure he’s leaving nothing major out of the deal?
Publishing that puts us straight into a negotiation with AA
No harm playing a bit hard to get - I think he wants to sell to AA
He’s getting them interested , if every month goes by we are adding resource value and we have plenty of cash-flow to continue drilling with Fairbride, it may be in AAs interest to make a decent offer sooner rather wait 6 months until we might declare 4 or 5mt equivalent.
We are effectively in the negotiating or pre negotiation stage so it’s cat and mouse.
With Fair bride income any potential buyer knows we have all the time in the world should we need it - so Colin is right to flag up that possibility of exploring Footrot etc - it would just encourage a buyer to give a solid price for a 2mt figure now , which I’m sure most of us in reality would be v happy with
For me that’s 20-25p for bushranger , leaving 5 to 6p as value of the rump of xtr
Would that require a separate RNS !
Come on Fairbride, bring us the gold.
-'i do remember quite a few years ago these rising 175% one day ,can't remember what for.'-
Probably the one time CB met a deliverable....
(I'll get my coat :P )
i do remember quite a few years ago these rising 175% one day ,can't remember what for.
Mattyashy - not sure if this helps. It's from the acquisition documentation.
"Globally, porphyry-related copper-gold deposits commonly occur in clusters. The Bushranger licence package remains under-explored, with several further adjacent porphyry targets, most of which have not yet been drill tested. Geophysical surveying, which originally identified the Racecourse deposit, has highlighted another target southeast of Racecourse, as well as the nearby Footrot and White Springs prospects.
The western portions of the Bushranger Project, on Exploration Licences EL's 8305 and 8585, are prospective for structurally controlled high-grade gold mineralisation".
I took note of CB mentioning not showing your poker hand too soon. That to me is he is already/about to negotiate a sale. Patience will be very well rewarded here at multiples this price.
As of 31st may RNS
To date, 8,526m of diamond drilling has been completed at the Ascot prospect, with assays still awaited for drill holes BRDD-22-040, BRDD-22-045, BRDD-22-046, BRDD-22-049, BRDD-22-050, BRDD-22-051 and BRDD-22-052.
By time this was released, the last, hole 52 had already been logged and sent for analysis, so by the time the RNS was complied potentially up to a further two more could have been drilled, certainly one as I would guess at a week for analysis and logging?? Plus a further hole since so maybe 3 more in total. Potentially ‘more’ if longer to get sent and then there is when it was sent prior to RNS
No indications as yet to where hole 52 is located as is omitted from the accompanying drill location plan.
Not a bad head start to get the remaining ‘additional’ holes drilled. Maybe Colin’s couple of months likely 3, doesn’t look too overly optimistic after all.
Could be the case Joeman.
One assay result I'm waiting on for Racecourse is hole 36. Sounded positive on the geo observations back in Dec. It would also add quite a bit to RC in the South.
If it was poor I think it would have been released with the rag tag waifs and strays assays RNS we had recently.
****Colin if you're reading this can you ask Quinton to see if it's dropped down the back of his desk***,*
"Drill hole BRDD-21-036 tested the southern end of the Racecourse Inferred Mineral Resource, intersecting zones of alteration and variable strength visible copper mineralisation from 11m depth to end of hole at 618m, with stronger mineralisation from 11m-216m depth"
"Drill hole BRDD-21-036 confirmed the southern continuity of the Racecourse mineralisation, again with a significant interval of stronger mineralisation, which supports our prognosis that the southern extension progresses well beyond the southern end of the conceptual open pit."