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Having listened to the podcast a second time I'm actually quite impressed. Why continue to drill to prove up an asset that is already big enough. That is music to my ears. Even without the answers to the questions in my last post, it is great to have a CEO who wants to monetarize the asset, and in a safe and mining-mad jurisdiction a buyer (whether AAL or another) shouldn't be too far away.

Can someone please remind me of the conditions of the Anglo American buy back in clause. In particular the % AAL would take, how the value of the asset is set, is it a cash payment, etc. And what would XTR do with their remaining % - could they still sell that or do they have to stay involved.

Cheers in advance.

Thank you, Steve4077 & others.

I was just hoping that it didn't mean that XTR and Mr Bird were going to set out to mine it themselves. I am very relieved and also fully understand what is going on but I was just confused by the use of the terminology. Cheers.

Just one question please, anyone. What is the 'decision to mine' that he has mentioned before and again today?

Of course if POW are not going to use one then it is irrelevant.

But for a drill where they are expecting to hit commercial grades of nickel this should be essential. See this link below, which highlights that these scanners work well with nickel (I don't think they work well with gold which is why they are not used so widely as gold always seems to be the number one target for drills these days):

https://www.olympus-ims.com/en/handheld-xrf-analyzers-enhance-mineral-exploration-and-grade-control-of-nickel-sulphides/

PJ needs to be on top this. He needs to be using the correct and best equipment available. He openly admits that he is not a geologist; he is by trade an accountant. Colin Bird at XTR might be getting old and going a bit slowly but he is by trade a geologist of more than 40 years standing. The use of the XRF scanner for that first Bushranger drill was very good planning and logistics and the sensible use of funds.

It would be nice to know if they are planning to use a XRF scanner which I think works well with metals such as copper and nickel.

XTR for example used one on their first Bushranger drill. This was spud on 16th December 2020, just a couple of months after the acquisition was completed (hint here about the speed of operations at POW which because of the pure number of projects appears to be quite slow). By 22cnd December, only 6 days into the drill, significant copper mineralisation was reported and included the following:

" Preliminary hand-held XRF measurements of the copper mineralisation have been recorded for the down hole interval 110m - 138m and indicate an intersection of 28m @ 0.3% Cu from 110m downhole depth (the mineralisation below 138m has yet to be read with the XRF instrument) - XRF results to be confirmed with geochemical assays taken from half core samples".

That drill then stopped for Xmas for 3 weeks and recommenced on 7th January 2021. It then completed the hole on 22cnd January at 1147 metres. On 25th January, 3 days later, they announced:

"Preliminary hand-held XRF measurements (to be confirmed with geochemical assays taken from half-core samples, which will also provide gold grades) indicate that copper mineralisation occurs over a downhole width of 905m from 110m downhole depth."

The final assays were out on 19th March, 2 months later, and said pretty much the same as the XRF scanner results though with the full grades:

"Assay results from the first drill hole (BRDD-20-001) of the Phase One Drilling Programme at the Racecourse deposit returned an overall intersection of 920m @ 0.3% Cu, 0.02g/t Au and 1.45g/t Ag (0.33% CuEq) from 110m downhole."

So the scanner said 905 metres and mentioned copper grades of 0.3% while the assays were for 920 metres and again at grades of 0.3% Cu.

Notice here that the scanner gave accurate readings over what was quite a low grade of copper mineralisation. Molopo Farms has already had grades of up to 1.66% nickel assayed. The higher the grades the more accurate the hand-held scanner.

Just to correct a recent post of mine which incorrectly stated that there is nickel, platinum and silver in this prospect. It is actually gold and not silver along with nickel and platinum. This is obviously better.

Okay, they are up to date now...............

Why are the most recent posts showing from Thursday at 18.49????????

These were the only 2 communications from POW during the previous drill - I-6 - and it is unlikely that we will get much news from the drill until they hit the conducive zone which according to the 3D modelling will be at 300 metres - so in about 8/9/10 days from the spud which was 21st September.

Provisionally the RNS dated 15th September said the following:

"Diamond core drillhole DDH1-6B : Located 530m directly south of drillhole KKME 1-6 (completed December 2020 1). Planned 600m hole depth, inclined at 80° dip and 0° azimuth (to the north). Based on the 3D modelling completed, DDH1-6B has been planned to intersect the southerly dipping conductor at a relatively shallow depth of 300m."

The drilling rates get slower the deeper they go. Obviously at depth it will take more force from the drill and it will turn more slowly and also as they bring the core to the surface regularly then it will take longer to raise the core and reinsert the drill head the deeper they go.

Yes, we know pretty much how long it is going to take and the drilling rate from when I-6 was drilled before in 2020. The current new drill is about 500 metres from the I-6 drill so the drill times/rates are likely to be very similar.

I posted this the other day, as well as on 8th September. Either people haven't read my post or maybe don't like the look of my figures.

For clarification see the link below:

https://www.investegate.co.uk/power-metal--pow-/rns/botswana-molopo-farms-complex---drilling-update/202011301130019132G/

This gives the start date - 19th November - and the drill was at 286 metres at end of day 27th November. So 286 metres took 9 days for a rate of just over 30 metres per day though this figure might not be exact as I do not think that they previously drilled over the weekend. What the plan is for the current drill regarding weekend drilling is not known.

The next update was on 14th December:

https://www.investegate.co.uk/power-metal--pow-/rns/botswana-molopo-farms-complex---drilling-update/202012141000085265I/

The drill had successfully reached the initial target depth of 547 metres. So the lower 261 metres was drilled in about 17 days. The drill rate will obviously be slower as the depth increases.

I would say anything up to one month to complete this drill, though it might be quicker this time as they already know what they are looking for and where exactly to look for it.

ATB

Cheers again. I assume that these horizontal wells are going to be fracked. Just confirm this please.

Cheers, Bladderman again. Was the previous drill into this discovery a horizontal well or was it just a vertical drill. I seem to think it was just vertical in which case my next question is: Will the horizontal get this to flow at decent rates?

If anyone else has more exact figures of the cost of this drill then please feel free to post these numbers.

By 10 bagger bear in mind that this will be a 10 bag from the lowest, most recent share price (which at the moment would be around 12p) thus giving a target of £1.20.

One further question please if anyone can be bothered to give a balanced and civilised response. How much will it cost to drill one well? I have no idea - is it a lot or within manageable budget.

Thank you Bladderman for your very civilised response.

Let's hope COPL can get all the equipment they need as I will be expecting a 10 bagger here when they drill this next well.

That, by the way, (ie. when this is going to 10 bag), is the sole reason for my enquiry.

ATB

Strange that such an innocent question should get such aggressive, negative responses.

I have listened to most of the recent interviews but I cannot recall this question being referred to otherwise I wouldn't be asking would I, silly.

I think that some posters are getting a bit too uptight and sensitive here. Maybe THEY should chill out a little.

Can anyone tell me if there are any plans in progress to drill the new discovery. I thought the original plan was to drill a well in August, which was later delayed to September, but now we are nearly through Sept and I've not heard a word about it.

Cheers in advance