Member Info for andmillsy

Extract from RNS regarding authority to raise.
"Following this recent share placing, Yellow Cake has substantially utilised the authorities to allot and issue new shares obtained at its AGM in 2021. The Company therefore has limited ability to fully exercise its 2022 option with Kazatomprom and to make further spot market purchases prior to the Company's 2022 AGM, expected to be held in September 2022.

Yellow Cake believes that the uranium market fundamentals are such that purchasing additional physical uranium could be done on a value accretive basis. The recently launched Sprott Physical Uranium Trust's ability to raise capital and purchase spot market uranium and the ongoing supply side constraints are likely to continue to put pressure on the spot market in the near term. The directors believe the Company's contract with Kazatomprom has significant value, particularly in the current tight spot market and having the ability to fully exercise its 2022 option as soon as market conditions permit would be value accretive for shareholders.

As a result, the Board is seeking shareholder approval at the GM to renew its allotment authorities prior to its AGM in September 2022 to ensure that it can fully exercise its 2022 option with Kazatomprom and to act opportunistically should it identify further opportunities in the market for the purchase of additional uranium."

I am mystified by the value gap. Possible risk:
1. Another raise to purchase U on spot. However raise is from recent RNS intended to be accretive and hence I would assume when sp at premium to nav.
2. Connection with Kazakhstan for supply and fear on security of this contract.
Any other ideas
I just bought again at 302 but may just trade which was at 13% discount to NAV

Reminder on Snooz spreadsheet to see NAV discount / premium etc
https://docs.google.com/spreadsheets/d/1SdQ0pXhW2KJ_PJoiJ3w97tzVz1fGcupAU9bfpTJkOHw/edit#gid=0

Looking at discount to NAV, performance of spot U and SPUT then there is a lot of evidence to support that entry.

First 3 mins are about the Ukraine tragedy then onto BZT / CMRS
https://audioboom.com/posts/8037405-traders-cafe-with-zak-mir-colin-bird-executive-chairman-bezant-resources

A lot to read tailings and stockpiles rich in copper and will be quick to production.

These results are highly encouraging in whichever way you look at them. We have good results from our stockpiles and tailings and extensions to primary copper are significant and will extend our known resources for mine planning purposes.

I am particularly encouraged by the Kokkinapetra extension of the Troulli deposit. Since, drilled mineralised intervals were significant and consistent. With the widths being experienced, we have potential to build up considerable tonnage between the two deposits.

https://www.londonstockexchange.com/news-article/BZT/cyprus-joint-venture-update/15340838?showDisclaimer=true

https://twitter.com/andmillsy/status/1496746139604996097?t=eHqlbs04mJ-jyRmDJT86wA&s=19

Oiltap thanks for reposting the RNS. I had forgotten some of these details and this reminded of the value placed on GLR by SFR

"Sandfire will acquire US$1.5 million 41,100,124 ordinary shares of 0.1 p in the Company ("Galileo Shares") ("Sandfire's Shares") at a subscription price of 2.68 pence per Galileo Share, being a 25% premium to the 10 day VWAP of the Company's share price as at 22 January 2021 being the day before the signing of the Share Subscription Agreement. ."

Sorry my brain still not in gear that is hilarious !

Ella - Hang on EL5574 thats ours !

Ella was it this statement in the 2020 financial statement you were thinking of?
"The total consideration was apportioned as to £10,000 in value for licence EL8305; £10,000 in value for licence EL8306;
£10,000 in value for licence EL8585; and £1,220,000 in value for licence EL5574 (the Racecourse resources lies entirely
within EL5574). Licence EL 5574 and EL 8585 expired on 4 June 2021 and 5 June 2021 respectively. The Company have
formally filed the renewal documents with the relevant authorities in Australia and await approval for both licenses. The
Company have not been made aware of any reason that they will not be granted."

I've taken another look in TMS and as I said earlier there are no open applications on the other 3 licences.

I can see EL8585 with a renewal granted on 31/8/21. I can see this was submitted by Quinton Hills for Prospectore via a 3rd party titles company.

There are 3 closed decisions on EL8305 but no information as to what they were determining.
EL8306 has no decisions pending or closed.

I'm not an expert on TMS! I have provided links to screen prints.

https://drive.google.com/file/d/16C9g4Oe8OUA9t_Pq2rUyXIJSfFsTcWqJ/view?usp=drivesdk

https://drive.google.com/file/d/160mt3yKY1EnProW6NNcV6c3KGqNGB9Z3/view?usp=drivesdk

Hope these work as doing it from the phone

Great minds think alike Ella. No nothing there. I'll keep an eye on EL5574 and the others. If there are any others, for other companies let me know and I'll take a look.

Approx 220lbs inferred resource no assays yet.

"The current price for helium-3 is $140 million for 220 pounds. The value of helium-3 on the Moon at current prices would be $1.543 quadrillion.26 Sept 2021"

Can anyone crunch the NPV? Jose Marie remote location and infra needs may provide a good starting point.

Further background:

https://www.popularmechanics.com/space/moon-mars/a235/1283056/

Coincidence ! The switch of the magnetic poles was just discussed in the book I was listening to on my dog walk. Human Universe by Brian Cox - its a bit of an aside - but its well worth a read / listen.

Ella / CoMC thanks for the Legacy Minerals insights.

I looked around their website and found this very interesting posted under the Rockley project "Less than 10km to the south east the Rockley-Gulgong Volcanics host the nearby 437 ± 8Ma RACECOURSE porphyry-related Cu deposit (Inferred Resource of 71Mt at 0.44% Cu and 0.064g/t Au (using a 0.3%) JORC (2012)). The age date for the Racecourse porphyritic monzonite aligns well with the dates reported for the CADIA Far East intrusion of 440.1 ± 4.2 to 437± 3.0Ma." btw Ma is a geological term for 1million years - just learnt this. So they are geologically the same age.

I recalled discussions on here between Andrew4444 and Howezap on the topic of a porphyry corridor. To this untrained amateur the ageing would tend to support the hypothesis.
=================================
Previously discussed back in Dec by Andrew4444 on 4 Dec 2021
>>>No idea if this link will work but I've tried to post the map showing my annotation and straight line link between >>>Northparks / Cadia / Racecourse
>>>The straight line intersection maybe irrelevant, but the intersection seems more than coincidence imo
https://i.imgur.com/LATqHE0.jpg

Apologies if you couldn't access the link - I've changed permissions hopfully you will now be able to see the screenshot but it won't tell you much more than my summary.

I tracked this down on the NSW TMS system. EL5574 is BR licence.
An application was submitted on 5 Feb with determination date of 6 Mar. Submission a bit later than I would have hoped but I don't know the process and what steps, enviroment impact assessment etc., they may have had to complete in advance of submission.
Anyway something, hopefully, to look forward to !
Link to a screenshot below as LSE still in the dark ages with images.
https://drive.google.com/file/d/1RBOt3SfGBpPHILYNVy59PwfYEVx4IXnV/view?usp=sharing

Asx release
Key Points:

JORC Resource of 18.4 million pounds V2O5 defined within Aura’s low capex, low operating cost Tiris Uranium Project in Mauritania1 .
34% classified as Measured/Indicated Resource.
The vanadium is contained within the mineral carnotite which also contains the uranium at Tiris.
Metallurgical testwork indicates that the vanadium can be readily extracted at low additional cost.
Production of a vanadium product stream is likely to significantly lower the effective cost per lb of U3O8.
Aura Energy Limited (ASX:AEE, AIM:AURA) (“Aura”, the “Company”) a company focused on the development of the low capex, low operating cost Tiris Uranium Project (“Tiris” or the “Project”) in Mauritania, is pleased to announce a JORC compliant Resource estimate for 18.4 million pounds vanadium (V2O5), contained within its Tiris Uranium deposits.



Commenting on the vanadium resource estimate, Aura’s Acting CEO, Will Goodall, said:

“We are very pleased to announce a JORC compliant resource estimate of 18.4 million pounds vanadium at Tiris in Mauritania.



The inclusion of vanadium in the resource estimates for Tiris gives Aura a wonderful opportunity to explore further operating cost reductions through addition of vanadium pentoxide (V2O5) as a by-product to uranium.

Ideal projects have been those with scale that can ramp up quickly and generate revenue without massive up front capital .

The other option, likely with better grade, requires heavy initial capital costs over a number of years before generating revenue for example creating new infra or initiating deep mining. In the impending era of significantly increasing interest rates such capital heavy, deferred revenue projects will have their NPV and potential buyout value smashed.

Bushranger great resource, great jurisdiction, great economics

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02486339-6A1076924?access_token=83ff96335c2d45a094df02a206a39ff4
Appears to be making great progress

Josemaria I believe went for US$485m.
https://lundinmining.com/news/lundin-mining-to-acquire-josemaria-resources-mean-123057/

Josemaria NPV was US$1.5bn
https://josemariaresources.com/our-projects/overview-feasibility-study/

I am hoping our NPV will be in advance of the US$1bn at Caravel 1.89mt @ 0.28 in Western Australia but a bit more distributed resources than BR
https://caravelminerals.com.au/wp-content/uploads/2021/11/2021-11-04-CCP-Scoping-Study.pdf

I suspect the 8% figure being quoted is the discount rate being used to determine NPV e.g. 7% Caravel, 8% Josemaria and many others have used similar discount rates.

I won't make an SP projection but I am optimistic from these data points.