Member Info for aprogerson

There is a lot of information on CCZ website https://castillocopper.com/projects/cangai-copper-mine/ including drill results and cross-sectional map of historic mine plus grades, intercepts and where they believe resource is 'open' to extend resource through future drilling programmes.
JORC Summary
"A maiden Mineral Resource Estimate (MRE) was completed for the Cangai copper-gold deposit by ROM Resources Pty Ltd for the Company in September 2017. The Inferred Resource was based on all available historical data as of 31 August 2017 compiled in a three dimensional block model and the estimation and classification of the Resource was completed in accordance with the JORC Code.

Inferred resources of 3.2 Mt at 3.35 per cent. Cu were reported at a cut-off grade of 1.0 per cent. Cu. The Mineral Resource was modelled using a 0.5 per cent. Cu wireframe threshold and reported using a reporting cut-off grade of 1.0 per cent. Cu. The Inferred classification was based on geological confidence, drill hole spacing, grade continuity and historical mining data. "

JORC Commentary: Having a 1% Cu cut-off is actually quite high as most modern mines are economic at circa 0.5%. We also know that the JORC was modelled using a 0.5% Cu wireframe which implies that the JORC model data can be rejigged at a lower cut-off grade which usually significantly increases the available resource.

Also JORC model indicates that the 3.2Mt Ore is polymetallic and amenable to open pit mining which includes resources of:
Copper 108Kt metal from ore grading 3.35% @$9,750/t = £785m
Cobalt = 153t metal from ore grading 0.005% @$55,000/t = £6m
Zinc = 12kt metal from ore grading 0.37% @$3,600/t = £32m
Gold = 83koz metal from ore grading 0.8g/t @$1,750/oz = £108m
Silver = 2.1Moz metal from ore grading 20.1g/t @$23/oz = £35m
So value of contained metal from 2017 modelled JORC at 1% Cu cut-off grade implies £966m assuming 100% metal recovery.

Clearly AIMHO and very theoretical given information available albeit this is based off a JORC resource completed in 2017. It should be noted that a very high Copper cut-off grade was applied so it is not unreasonable to assume that the amount of contained copper is likely to rise substantially and possibly push the economics back towards an open pit operation with some underground mining dependant on where the resource is situated and what an economic pit shell might look like.
Certainly lots to play for now at Cangai
ATB APR

@DD Hammer My guess is the muted response is because Cangai JORC of 108kt Copper metal is not new and known resource has not been developed for a historical reason (I need to research!) hence the doubt that it can be. However with NSW Critical Metals designation for Cobalt, Lithium and Copper CCZ is now in a great place to exploit both BHA (Cobalt & Lithium) and Cangai (copper).

IMHO what CCZ shareholders need to see is the implications of this Policy change and potential of both licences/JORC spelled out for them so whatever historical impediment confirmed as a non-issue.
ATB APR

@CopperOn I think you misread RNS as Cangai is a high-grade monster with JORC (2012) MRE of 3.2Mt @ 3.35% Cu implying circa 108,000t of copper metal not 108Kt ore! I also understand that there is also plenty of exploration potential to expand this.
Contained Copper = 108Kt at $9,750/t = $1,053m or £785m

IMHO this is an absolute game-changer for CCZ. Figures assume 100% recovery and we have no idea what the mine build costs are, BUT that is a lot to go for and it is a internationally recognised resource that can be borrowed against to fund or bring a partner in as risk @inferred resource stage is understood plus Cangai has historical records that can also be used to judge mine design, build & run risks/costs.
ATB APR

3x RNS on ASX
> Simon Paull leaves CCZ on 1-Feb-2022
> DENNIS JENSEN HAS BEEN PROMOTED TO CHIEF EXECUTIVE OFFICER
> GEOFF REED PROMOTED TO EXECUTIVE DIRECTOR
Plus an Operational Update
https://hotcopper.com.au/threads/ann-operational-update-and-board-changes.6551609/

Remarks from Castillo Copper’s incoming CEO, Dr Dennis Jensen:
“Moving forward, the Board’s objective will be to prove up JORC 2012 resources and further develop the Arya Prospect located in the Mt Isa copper-belt. In addition, we expect to have multiple targets to drill-test across the Luanshya and
Mkushi Projects in Zambia’s copper-belt. This is an excellent opportunity and an ambitious exploration agenda. Furthermore, with a high-quality asset portfolio, the Board has the potential to create significant incremental value for
shareholders. Finally, I’d like to thank my former colleague, Mr Simon Paull, for his tireless hard work over the past few years and wish him well with retirement.”

It looks like the NSW Critical Minerals List announcements is actually a big deal for CCZ at both BHA and Cangai Copper projects:
This is an encouraging development for both projects and a key catalyst to accelerate work on modelling
/ updating a JORC 2012 mineral resources, which the Board is targeting to complete during 1H 2022 – further details follow:
East Zone, BHA Project. Further work by CCZ’s geology team has uncovered over 1,500 incremental drill-holes within the tenure that have the potential to contain cobalt mineralisation. The Company is in the process of working through and interpreting this large volume of data and an announcement updating the market of the results of this work will me made in due course. These additional drill-holes complements the 108 drill-holes already documented that have cobalt readings ranging from >200ppm Co up to 9,500ppm Co5
. Consequently, CCZ’s geology team is optimistic there is adequate geological data to model
up a JORC 2012 mineral resource for cobalt and potentially zinc.

Cangai Copper Mine: Previous work by CCZ’s geology team produced a maiden JORC 2012 compliant inferred mineral resource of 3.2Mt @ 3.35% Cu implying circa 108,000t of contained copper
. As a result of being on the critical minerals list, the geology team will review previous work and use results from drilling
undertaken in 2017-18 to update the mineral resource estimate.

Some seriously good news for a very pleasant change ... Cangai is a monster and very high grade so we know it is commercial ... what is not so clear is why it was not progressed earlier and if whatever the reasons were they can now be overcome because of the NSW initiative
ATB APR
>

Flippin' heck POG plunged to $1,795 downtrend support, but looking at speed of this drop we may be looking at $1,780 very soon which is the multi-year support uptrend support ... I'd hope for a rapid rebound at the point
ATB APR

@adam Sorry I think you are fundamentally misunderstanding what is going on here:
> Yes we all know AISC is high as gold output dropped at Yan, BUT actions in pace to reverse this
> Yan FCF was used to fund HUGE drilling operation taking Yan LOM from 3 to 8 years with another large tranche of drill results expected by end Mar-22 to take it well over 10 years
> Yan FCF also used to fund Kouroussa exploration, design and mine start ahead of $100m loan now partially deployed
> Dugbe = no CAPEX or OPEX costs until Pasofino get to DFS then all options available to HUM as 51% owner

In summary for £47m MCap we get:
> Operating Gold mine at Yan with 10 year+ LOM and 85koz production
> Mine Development/build at Kouroussa targeted to produce 120koz within 18 months with build started using Debt
> Exploration at Dugbe with 51% share of 3.3Moz resource and DFS expected early 2022 (Pasofino RNS Dec-21) targeting 200-250koz production
ATB APR

LOL @Ivans I never said I was an Alba investor and I put £??? for cash, but thanks for the Alba update on all the other info. Not sure how that makes me biased ... under researched on Alba probably but then I'm not invested there.

Alba MCap = £11m & GROC MCap = £7m @27-Jan-22
Alba 'cash' position = £6m cash + £3.5m Groc = £9.5m cash equivalents
Alba Enterprise Value = £2.5m
Plant = existing gravity separation
Revenue = N/A, but possible via tailings as approx. 655oz contained Gold using 5kt ore and average 4.1g/t gold (RNS Jan-22 =Average grades returned were up to 4.37 g/t for the fine fractions and 3.80 g/t for the medium fractions.)

GWMO MCap = £5m @27-Jan-22
GWMO 'cash' position = £2m cash
GWMO Enterprise Value = £3m
Plant = None. Study underway to extend gravity separation design to include heap leach
Revenue = N/A, but possible via tailings as approx. 4koz contained Gold

If you look at what the GWMO BoD is doing with the Tailings processing that will be to generate a £revenue stream to reduce reliance on future placings and looking to bring in a partner on Copper JORC & licences for the same reason.

IMHO I'm not sure there is a great deal of difference between Alba and GWMO so not sure why you guys are getting so bent out of shape this? ... looks like swings and roundabouts to me !
ATB APR

Not sure about POG yet as we normally have a big drop and rapid reversal giving us a solid hammer on the Daily chart. As we haven't seen this yet I'm expecting a revisit of $1,800
My only wish is I had retained some 'dry powder' to pickup more at this ridiculously low SP
ATB APR

Drat POG has broken down (again) so looks like my $1,780 'Coiled Spring' scenario maybe back on!
ATB APR

Okay I'll bite ...
Alba MCap = £12m & Cash = £ ???
> based around applying new technology to a historic gold mine/s in Wales. UK
> looking to dewater existing mine shaft to 'open up' historic mine
> Spoil heaps = 5,000m^3 spoil heaps grading 5g/t up to 9g/t dependent on coarseness

GWMO MCap = £4m & Cash £1.7m @12-Jan-2022 (unaudited)
> based around applying new technology to 60km^2 licences containing historic gold & Silver mines plus considerable tailings deposits in Nevada, USA
> Exploration Programme 2022 - confirmed across all licences funded from current cash
> Copper = Existing JORC compliant Copper resource of 4.3 million tonnes at 0.45% copper based on circa 5km drilling & Target deposit in the range of 15Mt to 200Mt across Black Mountain licence area
*
Gold & Silver Reprocessing & Production ref: RNS Jan-22
(1) commission further process design to include a leach pad to improve on the prior 50% gold recovery via gravity separation alone (also RNS Apr-2021)
(2) proceed to the Business Case stage and raise debt to fund the tailings processing facility CAPEX/OPEX
(3) commit to building a 14km access road to facilitate tailing ore extraction and further drilling
*
Gold & Silver via Tailings reprocessing
> OMCO Tailing Statistics: @RNS 12-Jan-2022
>> OMCO Tailing volume = 25,000 m^3 to 31,000 m^3
>> OMCO tailings grade = 1.25g/t
>> Weigh crushed rock/m^3 = 1.6t/m^3 up to 1.8t/m^3
>> g/t gold to Ounces = 31.1g/ounce
>> OMCO implied max available gold = 1,600 to 1,994 ounces @1.6t/m^3
*
> MJ Tailing Statistics: @GWMO presentation Sept-2021
>> Estimated Tailings = 12kt (RNS 15-Oct-20) for 5,000m^2 now 14,000m^2 implies 33.6kt ore
>> Estimated grade = 2.28g/t gold (RNS 15-Oct-20)
>> MJ implied max available gold = 2,460 ounces

Commentary: Whilst Alba and GWMO seem to be doing similar stuff GWMO seems more advanced than Alba and has a JORC compliant Copper resource whereas Alba has a historic mine albeit underwater. Also GWMO is a third of Alba's MCap ! Go figure !
ATB APR

I feel very sorry for Argonaut and its shareholders. The only consolation I take from this is that Argonaut and ARCM are not alone in being targeted by potential/real fraudsters. Zambian officials need to get a grip and deal conclusively with these fraudsters effectively stealing licences from legitimate businesses and then those businesses having to suspend operations to fight for their rights in court. This process takes both time and money delaying commercialisation of any deposits on those licences and associated tax revenues to Zambia. In essence stealing from the very people they often cite as the ones they are fighting for !
AIMHO & ATB APR

@bushy My daily chart says much the same @$1832/1845 with long term upwards trendline support back at $1,780. If we drop back to that I'm expecting a very strong rebound to smash the downtrend from Aug-20 as that road runs out and the wedge gets thinner as we approach mid Mar-2022.
ATB APR

POG currently retesting downtrend resistance @$1,846 from underside

African Pioneer is a CB company

Do we think that the market has finally recognised that the CBs have been skinny dipping without their trunks on?

UK inflation now 5.4% with forecast of 7% by April-2022 and next to zero ability to counter it

Inflation, funny that exactly the same playbook from after WW2 with meaningfully high inflation for over 5 years to get Debt to GDP back below 90% ... might need a few more years this time as debt levels and government promised benefits are so high
ATB APR

Yep POG downtrend from Aug-2020 is being tested again today ... if it breaks $1,840/45 then teh downtrend is history on daily/weekly and monthly basis
There will be a HUGE rotation into value and precious metal stocks if inflation continues to rip
ATB APR

POG is looking both twitchy and perky today circa $1,845 is the level to watch as it puts POG clearly above any prior or inferred downtrend on daily/weekly and monthly charts
ATB APR

RNS from 12-Jan-2022 regarding mine tailings at OMCO property states "In 2021 extensive gold tailings heaps at the abandoned OMCO Mine site on the Olympic Gold project were identified. It quickly became apparent that this material had only previously been subjected to a simple flotation process, many decades ago, and that reprocessing these tailings via leaching would represent an excellent opportunity."

GWMO Cash: £1.7m @12-Jan-2022 (unaudited)

OMCO Tailing Statistics: @RNS 12-Jan-2022
OMCO Tailing volume = 25,000 m^3 to 31,000 m^3
OMCO tailings grade = 1.25g/t
Weigh crushed rock/m^3 = 1.6t/m^3 up to 1.8t/m^3
g/t gold to Ounces = 31.1g/ounce
OMCO implied max available gold = 1,600 to 1,994 ounces @1.6t/m^3

MJ Tailing Statistics: @GWMO presentation Sept-2021 "A summer 2021 field trip revealed that the spoil heaps are materially more extensive than previously calculated, with 51 heaps in total, potentially covering 14,000 m² (previously 38 heaps covering 5,000 m²)"
Estimated Tailings = 12kt (RNS 15-Oct-20) for 5,000m^2 now 14,000m^2 implies 33.6kt ore
Estimated grade = 2.28g/t gold (RNS 15-Oct-20)
MJ implied max available gold = 2,460 ounces

Commentary: The viability assessment of any future tailing processing would need to reflect a reduced yield dependent on processing route taken and after both CAPEX and OPEX costs have been considered for processing plant. It should also be noted that once funded this plant is then available for processing known tailings at MJ and any future ore mined at GWMO licences. GWMO have already stated that they would now pursue this route using a debt facility hence why they are looking to conclude a JORC resource for tailings so the debt can be secured once a business case has been completed.

This is still early days, but GWMO is indicating that they have sufficient confidence as "Work is underway on a definitive plan, with a view to initiating a development project as early as possible in 2022" other RNS hints include:
(1) commission further process design to include a leach pad to improve on the prior 50% gold recovery via gravity separation alone (RNS Apr-2021)
(2) proceed to the Business Case stage and raise debt to fund the tailings processing facility CAPEX/OPEX
(3) commit to building a 14km access road to facilitate tailing ore extraction and further drilling
ATB APR

@riseagain Apologies I cannot help but remind you how many times I have been and explained what happened about the copper exploration and Sharktooth. The BoD paid for their mistakes, GWMO was recapitalised, a new gold/silver focused strategy was agreed and Brian is now leading GWMO.

Over the last 2 years the BoD have delivered on their promises, improved their communications and now a 2022 Plan has been published. If you believe them stay invested if not then sell up ... simples !
ATB APR