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There will be lots of buys! lithium is already shaping up to be the hot metal for 2021, maybe the hottest yet, the pace of EV uptake and renewable energy technology continues to advance, I think by end of year we will be well north of here and hopefully with 100% of the asset so this is a comfortable medium to long term opportunity for my. The same strategy for HZM has been good for me. DYOR
Re share distribution, Royal mail are unreliable and very slow especially at this time of year and combined with Covid and working from home there will be delays in nominee accounts receiving certs and distributing them to underlying holders. The share certs had to be issued within 10 business days but that does not mean all trades were settled by then so its not a straightforward process, some counter-party claims had to be settled and then require either updated share certs or submittal of stock transfer forms to the registrar. Physical certificates are a pain to deal with. These things take time....
https://twitter.com/ErrisResources/status/1329425848336855040
Good to see Zinnwald moving up. Shareholders in EGR should register for updates at the website.
'This quarter we wanted to focus on the significant medium-term opportunity around raw materials for Electric Vehicles (EVs), and particularly Lithium, where we have recently pivoted our stance on the commodity and increased the Ausbil Global Resources Fund positioning significantly.'
https://www.livewiremarkets.com/wires/why-we-re-bullish-on-lithium
Zinnwald well-placed to benefit from the acceleration of EV adoption
SP Angel report that Volkswagen to spend €46bn on EVs:
Volkswagen (VW) has announced it plans to spend €46bn on developing BEVs (€35bn) and hybrid vehicles (€11bn) over the next 5yrs.
The investment is part of a wider spend of €73bn on new technologies, nearly 50% of €150bn of planned spending.
VW is seeking to repair its reputation following the 2015 diesel gate scandal, resulting in €30bn (£26.7bn) of regulatory fines and vehicle refits.
By 2025 VW targets reducing its vehicle fleets CO2 footprint by 30% by 2025, with 40% of the fleet electric by 2030.
VW plans to launch 70 electric models by 2028 and targets carbon neutrality by 2050. The Company plans to build 22m EVs over the next decade
Some news from SP angel below, maybe big oil will come back to mining yet. Many of the oil companies had mining divisions in the 70's and 80's and the timing is right for Zinnwald to be recognised in Germany as a supplier of domestic lithium.
Total SE has bought German EV charging infrastructure company, Charging Solutions for integration into Total Deutschland from 1st November.
Charging solutions has a network of 2000 charge points across Germany.
Total recently acquired Source London which operates the largest charging network in the capital, with 1600 on-street charge points.
The network will be 100% powered by renewable electricity generated by its subsidiary Total Gas & Power Limited.
Total has partnered with ChargePoint in 2019 to install charging infrastructure across the UK using its own facilities.
The Company is targeting operating 150,000 charge points across Europe by 2025.
Well you now have shares in Erris Gold Resources and Zinnwald, I'm sure you will do well, just give it time. Your share in Erris Gold could be worth more in the medium term if they get public again in the medium term, as in Q1 - Q2 2020.
Zinnwald a bit of a longer term play but now a safer investment in my opinion...good jurisdiction, good commodity and timing is good, the local auto industry in Germany will love to have a local supply for their rapidly growing battery industry. https://www.errisgoldresources.com/
Where a dividend is declared in cash, but satisfied by a transfer of assets, it is called ‘dividend in specie’. This type of dividend falls under Article 34 of model articles for private companies limited by shares (see Schedule 1, The Companies (Model Articles) Regulations 2008 (SI 2008/3229)).
A distribution in specie occurs where a company makes a distribution of an identified non-cash asset, such as without first declaring an amount in cash. Distributions in specie fall under section 845 of Companies Act 2006. Most commonly such assets may be property or machinery or the benefit of a debt. A distribution in specie may also occur if an asset is transferred at below market value (for example, as part of an intra-group reorganisation), where the value of the transferred asset is subsidised partly or in full by the transferring company.
https://www.whitefieldtax.co.uk/dividend-vs-distributions-in-specie/
Yes, you will get a pro-rata share in Erris Gold Resources and your Erris shares will become shares in ZInnwald Lithium, an advanced lithium project in Germany. There will be some dilution but the value add and potential should far outweigh that
The most important thing today is that nickel price continues to rise not somebody cashing in on some well-deserved options. Within a month nickel will probably smash through its 5 year high....The world wants Nickel and HZM has the biggest highest grade deposits that will sit in the lower quartile of cost. Furthermore it is in a good country with major backing and can be mined with respect for the people and the environment. This is as safe as it comes for a mine development investment and timing is good for Nickel, Tesla battery day is approaching and I suspect they will reinforce the Nickel demand scenario for the other HZM asset.. I'm up over 130% and keeping most of it for the next leg up..
http://www.kitcometals.com/charts/nickel_historical_large.html
Erris board has a lot of expertise, good contacts and aiming high for economic discoveries
'Well done to Erris Non-Exec Director Jeremy Martin (CEO of Horizonte Minerals) and Erris CEO David Hall (Chairman of Horizonte Minerals) for the big announcement at #HZM. $325M senior debt facility mandate for construction of Araguaia Nickel Mine' https://twitter.com/HorizontePLC/status/1293429326780796929?s=20
Target developing steadily, good systematic work and sampling to identify drill targets. Plenty of gold and high-grade silver on the property and coarse gold, 402g/t Au in the coarse fraction of a large sample at Lead Trial.
"Exploration continues to advance the Lead Trial Prospect with systematic exploration underway. Video Update here."
https://twitter.com/ErrisResources/status/1292703861518602240
"Our second in-house audio-visual presentation from Erris Resources Plc has been posted. The CEO introduces himself followed by an update on the geology and mineralisation at the Lead Trial Prospect"
https://youtu.be/yeLe_8ILQp8
that is no guarantee of copper in the extension, they should be immediately mobilising a diamond rig to the site and getting proper core. I have visited pyrite deposits in Cyprus with no copper, they were mined for sulfur.
A bit more detail on the sulfide would be welcome, even a graduate geo could indicate what proportion is copper sulfides versus pyrite, the latter would be more abundant in a VMS belt so don't be getting hopes up on this hype
hopefully not just pyrite deposit, plenty of those in Cyprus, we want to see chalcopyrite in these sulfides, hopefully that is what they are seeing otherwise it would be a risky RNS to put out if it turns out to be low in base metal, so fingers crossed
The release a few months back states the following:
Percussion drilling is not considered reliable enough to report accurate mineralisation widths and grades to the market due to the contaminated nature of the sample collection. The rock chips produced by the drilling may fall deeper into the hole and contaminate or dilute subsequent samples. It can however successfully identify the presence of ore minerals and their stratigraphic position along with an indication of the thickness of mineralisation. Percussion drilling results can therefore significantly de-risk follow-up diamond drilling campaigns.:
That is not an assay result! An assay is a quantitative or semi-quantitive value that should be repeatable. They will hopefully know if they hit pyrite or chalcopyrite but if you point the XRF beam at a grain of chalcopyrite you get up to 34% copper and if you point it at a non copper bearing mineral you get 0% Cu. To get a copper value using XRF you need an uncontaminated drill sample, then you need to crush the sample, split it, then pulp it and scan a compressed disk of the pulp with the XRF to get a value that might correlate with a true aqua regia digestion assay.
I think it is you who should read more carefully or stop smoking dog turds!
I doubt there will actually be assay results from this type of drilling - it is not designed for that. It will allow the geologist to determine which hole to re-drill with more expensive diamond core drilling so that they have proper samples to assay.