Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Seriously notrex?
I think Wolf's Gap will be bridged soon....all depends whether you want to get in before the 'September rush'... back to skool...
Don’t you mean 60p….
$2200 gold
I see we are having fun.... this 'opportunity' will not last forever.... don't say you didn't have the chance to buy low.....
Is Craig still CEO Oiland?
Well you cannot expect news every day!
As you say, given the past performance it would be reasonable to expect a pull back during a period of no announcements….. but this will be a risky game as ever.
Recent events have shown how quickly the SP will move as soon as there is a good news item. Predicting the timing of these will be more difficult than many expect or calculate. Predicting the consequence of a very good news item will be hard too. The very low M Cap opens the way for big spikes over short timelines and MMs will shut buyers out fast.
So good luck to sellers and consider the potential from here. 2 bags is 1 RNS away.
Bonker... the patience shake is a hard one.... we are at the foot of the big climb at the end of that famous graph..... it will be too much for many as you say!
'Sell on news' brigade.... yawn
This was a good update with as expected numbers which in YAN's case is a big tick given previous issues. Now we need steady progress with both mines in H2.
Lots of eyes on the POG and Fed meeting today etc.... we could easily have $2000 gold next week... or not but Q4, next year..... very likely.
This will make the AISC's at HUM look very nice indeed.
Traders will trade in the meantime.
Note Guvvi posted the NPV for Dugbe at $1700... what is it at $2100......?
Lucky, what BB2 is saying is that a particular phase at Yan has completed and they are commencing reconfiguration of the mine. Notice the mix the ore stocks to make a blend for processing.....
All of this leads to a slightly lower gold content of ore to be processed H2 which will lead to a lower set of quarterly gold production numbers thus pushing up the AISC. Lower production would not imply poor management. It's to do with the relative gold content in different areas of the mine geology.
Next year they will hopefully access new high-grade ore at KE underground.
The higher grade ore at KOU leads to lower AISC and lots of FCF so as the ramp up and achieve good steady production at KOU then they will start to have some serious free cash.... and we hope for a higher gold price.....
Here's a nice clue to what that price might be. Hochschild have hedged 50,000oz of their gold production in Brazil (see their RNS today) for 2025, 2026 and 2027 at $2117, $2167 and $2206 respectively. So we see an expected price of at least $2100 by 2025. Use that for your predicted FCF from KOU in 24/25 and you get some nice numbers.....
be happy BH
As you can see, and disregarding the other 'chaff' threads, portable X-Ray Fluorescence Spectroscopy devices have become very important in mining exploration fieldwork and are particularly suited to some of the elements ECR are looking for at Lolworth.
Given the remote nature of the tenements and their size, the desire to isolate the most promising arears within a larger area of interest is critical if lots of time is not to be wasted in the field and manpower is limited.
I must say that AJ will be loving this. The combination of the stream sediment data and the new rock chip and soil sampling data sets will be right up his street! He is a 'nerd' geologist and not great in interview (apologies Adam). As he burbles and ums and ahs I want to shake him.... but this is because he has a different temperament. A patient one that must 'plough the field' of the tenement and collect the data set, without rushing or a need for a 'hit'.
However, he has the air of a man who has picked up a trail... we will see where it leads....
Clearly Nb, Ta, Au and REE's are all hot hot hot........ Li and Co and PGM's being the other 'sexy-boys'
Go get 'em Floyd
Legal... your 22.50 post yesterday is bang on the money!
Sure thing Angelis. Vlad won't be going so he doesn't get nicked but he will be up for it as a snub to $$$....
Kinda wish he'd travel but then it would get tasty....
Please let this happen! :-)
Any time is good. I am ready.
Love the fact they are flagging this........ in other words....
'It's coming boys &girls!!!'
Hold for gold.
Legal, your 09.44 post today is one of the best I have read here for many months. Entirely agree.
I have added at these lows as this is what the 'AIM game' is about. Of course there is risk and there are many 'if's but AH seems clued up and motivated. AJ knows geology too but cannot be expected to 'See underground' ffs. You use sampling and modern science to to guide you and then you drill. You can never be sure what is there.
The stream sediments clearly indicated a host rock source. It's there... but where and how much.
Tantalum, Lithium, RE's.... any and all of these in commercial abundance will obviously be significant too. I have some number of ECR now and will hold for a good while. ATB BH
Now as storage is filled for winter.... 150-200 area over winter is the range...
Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), the African technology metals mining company with a portfolio of mining and exploration assets in Namibia hereby provides the unaudited operational update for the Company for its first quarter for the period ended 31 May 2023 ("Q1 2024").
HIGHLIGHTS
OPERATIONS
§ Improved safety performance to 0.95 LTIFR for 881 808 Lost Time Injury (LTI) free hours.
§ Fifty percent (50%) year-on-year ("YoY") increase in tin concentrate to 359 tonnes (Q1 2023: 239).
§ Forty-two percent (42%) YoY increase in contained tin metal to 216 tonnes (Q1 2023: 152).
LITHIUM DEVELOPMENT
Testing programme
§ First saleable bulk lithium concentrate produced from Bond Equipment (mineral processing specialists), South Africa through dense medium separation ("DMS"), consisting of 85% pure petalite at a grade of 4.16 % Li2O.
§ The petalite concentrate is being tested by potential industrial offtakers and for conversion to lithium carbonate and lithium hydroxide.
§ Construction of the on-site bulk-sampling pilot plant on budget and on time for completion at the end of June 2023, with commissioning anticipated in July 2023.
§ Andrada is exploring early lithium revenues during the second half of the 2023 calendar year ("CY 2023") through petalite production from the pilot plant at Uis.
Exploration programme
§ Confirmatory drilling in the Uis Southern Cluster pegmatites to upgrade historic resources on proximal pegmatites is ongoing.
§ Drilling of seventeen holes on ML129 ("Spodumene Hill") licence area completed in April 2023 with all holes intersecting mineralised pegmatite. The assay results are being finalised and will be released as soon as they are available.
§ Infill mapping and channel sampling along strike of drill targets on the ML133 licence area ("Lithium Ridge") completed in May 2023, and the initial assay results expected in July 2023.
FINANCIAL
§ Average C1¹ operating cash costs below management guidance for the year of between USD17,000 and USD20,000 per tonne of contained tin at, USD15,741 (see announcement dated 20 March 2023).
§ Average C2² operating costs below management guidance for the year of between USD20,000 and USD25,000 per tonne of contained tin at, USD18,235 (see announcement dated 20 March 2023).
§ All-in sustaining cost³ ("AISC") below management guidance for the year of between USD25,000 and USD30,000 per tonne of contained tin at, USD21,377 (see announcement dated 20 March 2023).
§ As announced on 5 June 2023, Andrada has executed the documentation for the Development Bank of Namibia ("DBN") USD5.5 million finance facility. Completion is subject to satisfaction of certain conditions which together with the associated drawdown is expected in July 2023. Further updates will be provided at that time.
CORPORATE
§ Strategic partner process ongoing (see announcement 11 May 2023).
§ OTCQB® trading commenced on 5 June 2023, providing acce
Rupert Newall, CEO, commented:
"We have successfully completed the wireline intervention at Blythe H2 well, which has now flowed at a maximum stabilised rate around 42 mmscf/d, slightly above our original 30-40 mmscf/d guidance. Production will now be managed up from 20 mmscf/d towards the maximum rate to further dewater the pipeline. The team has worked very well to identify the issue and remediate it safely and efficiently. The significant improvement in our operating team performance is also demonstrated by Blythe operating efficiency increasing from 59% in 2022 to 93% over 1H23 to date.
In parallel with the remediation work on H2, we have been assessing next steps for the business very carefully. Mindful of current gas market and balance sheet risks, we have decided to pause drilling activity for now in order to maximise near-term cash flow."
H2 intervention
· During well testing prior to H2 First Gas on 12th June, gas flow appeared to be choked back below expected levels by a restriction above the reservoir. Equipment was mobilised to the rig to test whether this was caused by a partially activated downhole valve
· Over the weekend, the downhole blockage was duly verified at the expected depth. The valve was then fully opened with suitable equipment and the anticipated change in downhole pressure was observed
· The well was handed back to the Operations team in the early hours of Sunday 25th June and subsequently flowed at a maximum stabilised rate of 41.9 mmscf/d
· Production is now initially set at 20 mmscf/d and will be steadily built up to full rate over the coming week as the Saturn Banks Pipeline System is further dewatered
· The absence of formation water production from H2 is expected to significantly reduce aqueous liquid arrivals at Bacton, which should in turn reduce unit operating expenditure
· The plan remains to produce from H2 only over the next few months; once water levels have re-equilibrated at the H1 location, periodic production is planned from H1 at lower rates to minimise water production
SDP Drilling contract
· The SDP has been contracted to the IOG-CalEnergy Resources JV ("the JV") since the Elgood well was spudded in April 2021
· One of two priced contract extension options was previously exercised with a view to drilling one of the two planned appraisal wells at Kelham North/Central and Goddard
· At the current time, having overcome both the Blythe H2 well control event and downhole blockage, and in the context of continued gas market volatility, maximising production and rebuilding cash balances are key priorities
· The decision has been taken to defer the drilling of the Kelham and Goddard appraisal wells at this time and the SDP will therefore be released after completion of Blythe H2 operations
· The JV will continue to assess the best options to drill the two appraisal wells by 31 March 2024 as per
9 June 2023
Hummingbird Resources plc
("Hummingbird" or the "Company")
First Gold Pour at Kouroussa Gold Mine
Hummingbird Resources plc ("Hummingbird" or the "Company") (AIM: HUM) is pleased to announce first gold pour at the Kouroussa Gold Mine ("Kouroussa") in Guinea on 08 June 2023, ahead of the end of Q2-2023 schedule and on budget.
Commissioning at Kouroussa commenced early May 2023 and having achieved first gold pour, the mine is now expected to ramp up to commercial production during H2-2023. Kouroussa is a high-grade, low-cost mine and is the Company's second operating gold asset in West Africa. It is expected to produce an average of 120,000 to 140,000 ounces ("oz") of gold for the first three years of commercial production, and average 100,000 oz per annum over the current life of mine at an AISC profile of c.US$1,000 per oz.
A more detailed update on Group-wide FY-2023 guidance to be provided once Kouroussa is ramping up.
Dan Betts, CEO of Hummingbird, commented:
"The achievement of first gold pour at our second operating mine, Kouroussa in Guinea, is a major strategic milestone for the Company, transforming Hummingbird into a multi-asset, multi-jurisdiction gold producer, that more than doubles our production profile to 200,000+ oz pa. Kouroussa is the second mine Hummingbird has built on time and on budget, made up of a construction team of African and predominately (80%) Guinean personnel. I would like to thank all our dedicated Kouroussa project team and multiple construction partners in achieving this outstanding outcome. Our operations team is now focussed on safely ramping up towards name plate production, expected during H2-2023".
Kouroussa Gold Mine operational updates:
· First gold pour was successfully poured at Kouroussa on 08 June 2023.
· Mining continues in preparation for name plate production expected during H2-2023, with a ROM pad stockpile currently of 120,000 tonnes available for on-going commissioning and ramp-up.
· The Kouroussa processing plant is a one million tonne per annum ("Mtpa") capacity standard carbon-in-leach ("CIL") plant.
· Comprehensive community engagement plans have been implemented, including daily, monthly and quarterly meetings with local communities and local authorities covering a variety of topics such as: project progress; recruitment; local content; environmental monitoring; and health and safety.
· Further, implementation of detailed community project and livelihood restoration programmes is ongoing as the mine becomes fully operational.
· Detailed Kouroussa exploration plans are being developed with a view to re-initiated exploration drilling plans in H2 2023 / 2024, with the focus to increase Kouroussa's current Reserves base of 647,000 oz at 4.15 g/t.
HUM looks primed to go for it. Hard to buy isn't... I'm more than ready! :-)