Member Info for Benhowell459

Lucky, please God no, not the buy back clause. I get the impression Colin also not that interested in Manica either - gives it one line then moves on. Development has been coming for years, it's going to fund future exploration yes, but it's not a company maker.

Chris, end of the year is probably quite a good time frame. Maybe I should be more patient but Colin gave us a timeframe and here we are, end of June with nothing remotely looking like a model update etc. The wait continues...

Not going to lie - I prefer this place when it doesn't resemble a graveyard. At least it's not like vast which actually is one.

Come on Colin - throw us a bone so we can have a chat. Couple of drills fired into footrot? Couple of banging assays? Copper production at Eureka? Information on that copper mine you keep mentioning but no info on the website? Even a few warrants being taken up would trigger some sort of discussion.

I get the feeling we are in the calm before the storm. Big news to come, I just can't stand the wait...

Incredible film - so good it's my go to film when I need one. Full of excellent quotes, including: I'm going to find moral redemption at the roulette table after finding out the CDO manager was a complete schmuck.

One that fits our current situation:
Jared Vennett: You smell that? What is that?
Mark Baum: What?
Jared Vennett: What's that smell?
Vinnie Daniel: Your cologne?
Jared Vennett: No.
[pause and looks to his assistant]
Jared's Assistant (Chris): Opportunity.
Jared Vennett: No. Money.
Porter Collins: Ooh...
Jared Vennett: I smell money.

GSK currently rubbing their hands together at the prospect of seeing what SRA737 can do...

Cyber, 3m per annum as you say is not to be sneezed at. It keeps the lights on, pays for all the admin staff, accountants and directors and enough left over to fund some exploration. All from alluvials.

Hard rock profit is essentially all going into exploration funds as alluvials already paid for the above.

5p has to be the basement sp here with so much going on. Wish I had some more cash down the back of the sofa I could throw in here. 12 months time, we will be nowhere near this level.

Great news today. Quick question about our partners in Wudinna. Andromeda Metals are 70% down on the year. Are they now not the great mid tier partners they once were? Any ideas what the REE news might mean for them? Ideally we would partner with a company capable of taking advantage of these excellent results.

As you say very much guesswork with timelines. We've been saying for 2 years on here about the potential of footrot though and I'm very excited to see what it has. Is it more like Racecourse or more like Ascot. Very intriguing. There's lots to come of the next year or so in Oz, Zambia and Mozambique.

Cheers for that Millsy, much appreciated. Sounds quite intriguing. Look forward to more info on that!

This is the 3rd or 4th time that Colin has mentioned Chongwe. As far as I can see, there is nothing on the website and nothing mentioned in RNSs about this mine. Anyone any idea where it is? What is the potential? I'm getting a big fed up with the references to something which has never had mention on the website or official statements. Eureka too is so wishy washy as I've said before.

All in all though, I can't complain. Positive and professional interview. Please can someone just blooming ask a follow up question to his waffle about Zambia!

Bit of a depressing post. It may be raining but we don't need to give in to pathetic fallacy.

"All of which involve more surveying, drilling etc and probably achieving nothing".

Chin up mate. We might find a shed load more copper and gold!

*apologies, should read:

They are at a similar stage to us but they have 2 inhibitors already completed phase 1, and another in phase 2.

Further to that input from Thoth2, I had a quick look at Ventyx.

They are at a similar stage to us but they have 2 inhibitors already completed phase 1, and another in phase 1. More importantly, Q1 2022 financial results are slightly different to ours.

Cash Position: Cash, cash equivalents and marketable securities were $273.1 million as of March 31, 2022. We believe our current cash, cash equivalents and marketable securities are sufficient to fund planned operations into the first half of 2024.

I think that probably explains part of the difference in sp.

Question then begs to be asked: How on earth have they got such capital reserves?

Quick search bring ups this: ENCINITAS, Calif., March 9, 2021 /PRNewswire/ -- Ventyx Biosciences, Inc. ("Ventyx"), a clinical-stage biotechnology company advancing a pipeline of immune modulators to treat inflammatory diseases and autoimmune disorders, today announced the completion of a $114 million equity financing led by venBio Partners alongside new investors, including Third Point, RTW Investments, LP, Janus Henderson Investors, Wellington Management, OrbiMed, Surveyor Capital (a Citadel company), Farallon Capital, Vivo Capital, Logos Capital, Qiming Venture Partners USA, Cormorant Asset Management, and participation from founding investor New Science Ventures. In connection with the financing, Richard Gaster and Aaron Royston of venBio Partners and Jigar Choksey of Third Point will be joining the Ventyx Board of Directors.

Just over a year ago they received financing worth 114m dollars. However, they had to add 3 new people to the BOD. Is that something Tim and JR aren't keen on having? I would imagine they want to on-licence soon, whereas Ventyx may want to try and use their funds to do more trials. It is an interesting comparison but much more nuanced than just x4 sp...

I can't speak for others but one of my frustrations is a lack of clarity. A verbal deadline set for end of May was mentioned a couple of months ago, and yet here we are with no mention of that. All it takes is a simple, "I know end of May has been bandied around but the more we see, the more we like. We obviously want to investigate the potential so it might take a bit longer, Zak." Not difficult.

Also, the repeated ambiguous statements referring to Eureka and a "Zambian mine/test result" are so wishy washy. They very rarely get more than a small mention at the end of an interview, and there is barely any information about them.

I'm very happy with the assets, like most others here, so I'm not going to sell but a little bit of transparency and clarity on some key issues would ease some frustration.

CB mentioned the "Zambian test project is beginning to have positive results". Does he mean Chongwe? He can't just mention this and not go into more detail!

Then he says "Eureka, we'll be pushing ore out of there." Why doesn't Zak push him on this? When will Eureka come online? What is the Zambian test project?

Very interesting him confirming that they will end with a couple of holes into Footrot. If they hit mineralisation, will that lead to more and more drilling? Confirmation of income form FB will underpin the sp, fund drilling and reduce the threat of dilution considerably. Just need FB to come online now imo.

Elliot it does my head in. There are really simple rules. If you want to contribute to a topic already being discussed, click reply. If you have a new subject to discuss, start a new thread. It's not complicated. It's far simpler than the science posters on here have invested in!

It's a nice summary but as Colin says in the RNS, this is only the beginning. If we stop drilling now, those results are underwhelming and do little to add to the AA package. The runs of copper are minimal by comparison to Racecourse. However, the results so far do hint at something much more promising in the future. The 30m run of gold might help them find more and finding the crown will give us more copper.

As such, I think this confirms drilling won't end in May. Far from it. It needs more work to make Ascot a positive addition to the package.

Well that changes things...

Apologies for that slight oversight.

Calcs not quite as good now but better if you spread out over the whole of the open pit and consider averages rather than cut off.

1000x500x500x2.7x0.0015 = 1.012MT.

Probably not the best way of calculating possible tonnage as Steve pointed out.

However, if it averages out at 0.2%, we get to 1.35MT

And an average of 0.25, we get to 1.687MT. 0.3% average clears the magical 2MT mark.

Leads me to expect us to be shy of 2MT, but who knows if southern extension exists and has more copper.

Thanks Andrew - I like it!

Steve, you are absolutely right that all tonnage above 0.15% would improve the overall total. In fact the 900m was @0.3% so 0.15 is very low in comparison. As a result, my calcs could be seen as pessimistic but it could serve as a bare minimum for how much we may have. It does show how complicated it is for us PIs to estimate tonnage when the ore body has no consistent grades and we know the shape is complicated.

It is also nice to know that we can underestimate significantly and still arrive at quite a serious deposit in a first class jurisdiction. Thanks to all for their contributions on this.

Not professing to be cleverer than you howezap but I spent half an hour a couple weeks back doing some basic calculations and trying to get to 2MT.

900m (we know we have 900) X 200m X 200m (we know it's not a cuboid but my maths doesn't stretch as far as working out the tonnage of an aubergine or a cathedral) X 2.7 X 0.015

Comes out as 1.458 MT of contained copper.

Very very crude but it gives you an idea of what might be needed.

900x 200x 250x 2.7x 0.015 = 1.822MT
900x 250x250x2.7x 0.015 = 2.278MT

Bearing in mind some of the drills in phase 1 had 2-300m @0.2 I would like to think we are at least in the 1.5-2M range. And with that very basic effort I'll let someone far more capable have a go :)