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Also there is no guarantee that modelling will be converted to JORC. JORC's need drilling, drilling and more drilling.

Before Greatland Gold were able to announce their maiden JORC they had as many as 12 drills working 24/7 365 days a year. Here the drilling is minimalistic and the modelling will not count for a lot without a lot more drilling.

AJMO

Oh yes, there is bound to be yet another CB interview today. That is what he is really very good at. Lots and lots of very optimistic podcasts, while the drilling is almost non-existent, assays are very slow and the grades are disappointing - apart from the gold carrot today!!

The share price today says it all!!!!!!

Cheap shares today - even cheaper next week/month.

It clearly says that "Anglo may buy-back 80% of the Racecourse deposit" so that appears to exclude the Ascot prospect.

I may have answered my own question.

"Anglo Buy-back option

Under the terms the Bushranger Acquisition agreement, if a deposit of greater than 2 million tons of contained Cu equivalent (e.g. 450Mt @ 0.45% Cu equivalent) is ultimately identified, Anglo may buy-back 80% of the Racecourse deposit at fair market value as determined by an Independent Expert in accordance with the JORC and Valmin Code."

"The most advanced prospect is the Racecourse deposit, where a JORC (2012) compliant Inferred Resource has been estimated at 71Mt @ 0.44% Cu and 0.064g/t Au using a 0.3% Cu cut-off, with copper grades comparable to the major operating mines in the region."

There is a lot of difference between 71Mt @ 0.44% Cu and 0.064g/t Au using a 0.3% Cu cut-off and 2 million tons of contained Cu equivalent (e.g. 450Mt @ 0.45% Cu equivalent).

I think that it is fairly obvious that they are not going to get the 2 million tons from the original Bushranger prospect, though they might get that sort of number if they include the Ascot prospect.

Does this count as far as AAL are concerned or does the 2 million tons CuEq have to be just in the Bushranger target??????

No it's nearly 5p already and dropping like a stone. Maybe 4p - or less!!!

CuEq grades around 0.30% are okay as long as they are over distances in the hundreds of metres. They are not of much value over distances of 18m or 12m.

Not enough drilling going on here for this to get anywhere any time soon. As we've seen over the last year when there were placings at 4.5p and 5.5p but the share price fell to 3.5p this has a tendency to drift with no or slow news.

I agree, back into the 4p's.

Today's disappointing assays:

18m at 0.34% CuEq from 388m in drillhole BRDD-22-044

· 12m at 0.29% CuEq from 242m in drillhole BRDD-21-02

Compare these with earlier assays - taken randomly -:

338m @ 0.31% CuEq from a downhole depth of 178m

155.08m at 0.47% CuEq (0.41% Cu, 0.06 g/t Au, and 2.65 g/t Ag) from 238.92m

202m at 0.27% CuEq from 276m downhole depth

First assays for nearly 6 weeks and apart from the 2 metres of gold they are not very good.

5p soon - or less.

Hardly any drilling going on and the assays are getting slower and slower.

"Use of Proceeds
The Company intends to use the proceeds from the payment obtained on Completion for an acquisition via a reverse takeover within six months of Completion. Funds from the Completion payment will be utilised to evaluate and acquire one or more projects located in mining friendly jurisdictions. It is anticipated that portions of the second and third payments (totaling US$60 million) will be paid as dividends to the shareholders."

Okay, then how about: sell asset in Russia, get new management, old management resign/retire, acquire new asset(s) in friendlier environment(s).

Just an idea.

Maybe this might be a good time for the management here to look to acquire a new asset anyway. If the sale was to go through AMC would become a cash shell and then they would have to get a new asset so why not do that first. They could acquire a prospect in a new and safer environment and then even if the sale doesn't go through there will still be some value here.

Acquiring an asset will also give the lazy management here something to do because they certainly haven't spent much time over the last few years on the current asset.

0.06p to 0.07p will be a great buy in opportunity here, for sure. No doubt the share price will be back down to these levels soon.

It's easy to see why this is back down 25% today.

From the recent placing RNS:

Andy Yeo, CEO of Baron, commented:

" We now have two major projects progressing towards key evaluation points - Chuditch PSC (Timor-Leste) and P2478 (UK) - both of which are material in terms of potential value, equity interest and prospective resources, with relatively short timelines to potential drill decisions. In particular, the additional monies committed to Baron will be sufficient to reach a decision point on Chuditch. There remains the final push to be done in the form of the interpretation of the reprocessed 3D seismic data, which is expected to commence in June and we look forward to updating the market on the results of the final 3D pre-stack depth migration data thereafter. From there, we will re-double our efforts on the farmout process. We are fortunate to be bringing Chuditch forward at a time when, after two years of COVID induced inactivity, we believe the farmout market is accelerating, supported by issues of energy security, structural imbalances in LNG and historically high prices for gas.

On P2478, energy security concerns have also played a part in an evolving UK landscape, following the reversal by the UK Government to now support further oil & gas exploration and production including an intention to hold future licensing rounds. Our initial work on P2478 should be complete by the end of 2022, leaving us time to make a drill or drop decision by July 2023."

If you bother to read this it clearly says that the seismic interpretation for Chuditch is going to commence in June and when that is complete and the results announced then they will re-double their efforts on the farm out process. SO NOTHING GOING AT THE MOMENT.

The other project is on a much slower timescale - "Our initial work on P2478 should be complete by the end of 2022, leaving us time to make a drill or drop decision by July 2023."

There's nothing going on here at the moment and no reason for a share price spike.

Does anyone have an email address for Robin Young?

I'm afraid the bottom line is that unless they get rid of this asset at any cost then it will be worth nothing. Anyone with a brain can see that.

They should have kept Habib on the board. He would have got a sale sorted out in no time.

I am not saying they need to keep the management. They can go with the asset if they want. But the listing is worth keeping and there are lots of companies busy acquiring exciting prospects at the moment, particularly in Australia.

A post that gets 4 recommends from posters hiding away too scared to say anything and who still believe that this company is worth anything at all except a quick sale at whatever price.