Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
We have been here so many times over the last year.
I have been invested since 09 (pre strike) and with dividends if it gets to 150p I am even, but torn mentally, between get out with my shirt on my back (which at several points looks impossible) or hold for better times once more......I dare say many long term holders will be in the same boat and hence, strong hands, leading to spike?
All I know is, I once believed in a super giant oil find that should have been life transforming for not only GKP shareholders, but for the long suffering people of Iraq, needless to say it has not been an easy road and I don't think we have quite reached our destination quite yet.
GL all and let us hope for much better days ahead.
And there you have it in black and white in this morning's RNS, this with the chemistry and flow sheet understanding of how to process the minerals is when the value proposition will be fully known and a price for what we have can begin to be estimated.
A great RNS today with lots of details, onwards and upwards ! Good luck all.
JORC-compliant Mineral Resource Estimate
A Mineral Resource Estimate ("MRE") is a measure of a body of mineralisation that in such form, grade (or quality), and quantity that there are reasonable prospects for eventual economic extraction. Based upon an MRE an assessment of its potential economic value can be made. There are several key components that combined will allow the Company to complete an MRE, being:
· Geological and Geophysical Mapping: Required to establish the geological characteristics and anatomy of a deposit, such as its shape, rock types, stratigraphy and structure. Based on these characteristics, geologists can estimate the location, form, size and continuity of mineralised zones;
· Geostatistics: Statistical methods to analyse geological data and create models of the distribution of mineralization within a deposit. This method considers the spatial relationships between the different data points generated by drilling and surface sampling, and can be used to estimate the grade and tonnage of mineralisation; and
· Block Modelling: A method of dividing a deposit into a grid system of blocks and estimating the grade and tonnage of mineralization within each block. This method can consider multiple data sources, such as drilling data and geological maps, and can be used to create 3D models of the deposit.
Empire is well on its way to being able to provide a maiden MRE at Pitfield, having already conducted extensive geological and geophysical mapping that has been tested and refined by drilling and consequent drill sample analyses. Once the current drilling programme is complete the Company will have drilled over 100 RC holes for a total of around 15,000m as well as seven diamond core holes for a total of around 2,000m. The Development Plan provides for an additional 36,000m of RC and 2,000m of Diamond Core drilling commencing Q4 2024 which will provide the additional data needed to complete a JORC-compliant MRE.
From a technical perspective from the price action today, If you draw the Fibonacci retrace from:
Low point for Fibonacci 1.625p (29th Jun 2023)
High point for Fibonacci 13.4p (09th Jan 2024)
Today we hit the 200 day SMA moving average and also critically, we had confluence with the 61.8% Fibonacci retracement target figure of 6.53p (this is taken from the calculations and the two points detailed above.)
I now hope the price to move upwards in anticipation of RC drilling news.
We may see some hovering around this point, but I think we have had our retrace.
Good luck all.
Agree with every word of this post Mischief and I set my limit order last night which got filled this morning, more at 6.789p. If we go towards the breakout zone (6.3 to 6.5p) then my dry powder will be used to take full advantage. GL to all holders and let the team do their thing.
Agreed Surin, and watching it back I picked up on something which SB previously dismissed; in previous interviews, he stated that he wasn't interested in the whole, "find it, map it, for a JORC" but in yesterday's interview, he actually stated that the next drill campaign will "enable the statement of how much and what grade".
Subtle, but isn't this the "Hey look what we have" moment ? And its coming soon?
Don't get me wrong, I fully understand his 18 month timeline and proving the process with a viable process flow and drums of product to show the world, I am still bought into this timeline, but I found it interesting that SB said what he did yesterday.
I am still "loading up" I have a single digit average and will add more as we dip.
Interesting that some of the older presentations call out a 2 year time frame from delineation of resource to realising shareholder value...if Pitfield were on that timetable it would put some crystallisation event Q4 2024 to Q1 2025?
Thanks for the follow up Andii, yes, I agree, how much good and positive drill data do we actually need 😀
From the recent interviews, a JORC was not the main driver, more about demonstration of processes required to get the good stuff out, which we now kinda have (" soft rock" & 20% Ti) amenable to low cost , low temperature acid leaching?
But this process flow and demo plant isn't scheduled until Q1 2025 unless I have missed the timeline in the latest presentation?
Looking at the previous presentations a previous RC drilling campaign started and finished within 8 weeks ( Started March 2023 and reported May 2023) can we expect the next major readout in a similar time frame e.g. RC readout June 2024,?
Read the posts directly below?
Currency devaluation is hitting profits....which translates into headwind for the share price
I never go all in.
Scale into and out of positions as you are likely to get your entry and exit slightly wrong unless your a skilled trader.
I bought my first position on Friday, but when negative 10% was reached instead of doubling down I cut that position. With it only being a third of the total position I was wanting it's not a significant sum to lose, but I preserved most of my initial capital and when combined with other cash reserves will mean a re-entry ( at whatever point it settles) will be more impacful than any averaging down exercise.
And just for clarity, my previous post is not aimed at negatively pointing out other's approach, saying this is right and that is wrong, merely pointing out some styles of wealth creation have vastly different approaches, time horizons and vibes. Horses for courses and all that. What works for one, may not work for the someone else, beat your own path and play your own style of game. May we all grow older and wealthier :)
Exactly this ToffAppleton1 , I had a price on my "Want list" which was 2719, I hit the strike today at 2729.
If, and its a big if, it goes to 25 something then I will double my shares and add, believing intrinsically in the business and the brands & business model, (dare I say moat).
The mentality of the "trader" I find often ensures that they very often miss the "best " / optimal opportunities (entries and exits) as they strive for perfect alignment in the trading philosophy of choice and lines on charts (which arte all lagging indicators to some degree).
Additionally, and perhaps worst still, this mentality turns the, would be trader ,(who cares only for price action, not the company it is attributed to) into a "trade-vestor" as your trades are inevitably always underwater and you either continuously cut your position too early (lose money) and look to make it up on the next perfect support entry for any other stock, or because your time horizons are not practical and have not looked at what the company is in any particular depth, and so fail to understand what is value for any given company.
This superficial view and approach often fails to grasp shares which are "on sale" (and as you state, why place a trade today at 27 when your mind is telling you to wait until tomorrow or next week, next month when it is 25)
All the while Mr Market continues to be irrational, the more relaxed investor style continues to pick up discounted shares, in good , well run and profitable organisations.
If you let the short timeframe Irrationality of the market fade and focus on the bigger picture, it affords a different mentality, not that of the day trader, constantly chasing the perfect trade and thoughts of amassing immediate super wealth and inevitably over trading (IG love these profile people) but build a strategy and be mindful of the longer game, let the market and the desired price come to you. Granted, its not for all, but perhaps it's food for thought.
I have to say, I agree with most of the comments on here. DGE had been on my watch list for what seems like forever, managed to bag half my usual allocation (50 units) at 27.29. Let's see what the next few trading seasons hold, but for me, its a long term hold and a good entry price for a quality name.
The government is not stupid per se, just greedy, dishonest and corrupt. They are on the one hand willing to take donations from anyone (including Cigarette and VAPE producers) and lobby groups, enjoying the tax revenue their products rake in all the time trying to "look" as though they care for people's health.