Member Info for BricksSA

What the PFS route would mean....https://en.wikipedia.org/wiki/Mining_feasibility_study
(plenty funding imo to get to Detailed feasability....the scoping study I actually thought was a PFS but it seems not to be the case...although it read like one. @ Oils...please correct me if Im wrong)

@ Shed...I listened to the interview and it seems that they took adice from WA not to do the testing for deleterious elements or by-products until they can lockdown the production cycle otherwise they would have had to do it twice. As we are limited for funds and have enough for finalising Met report and completing drilling and assys and updated JORC.. This now makes sense to me so am not that phased anymore. It seems like LR was also of the opinion that he expected them done...same as us. So this decission was taken during the course of interacting with WA whilst producing the Preliminary study. It also appreared to me that when the PFS was raised by Andrew that they chose not to get into this discussion as they are focussing on the finalization of the Met report and completing the drilling to get more indicated resource added to JORC. This together with mining license...also due end 1st Quarter...as that will be 18 months elapsed since start...will be the signal that it is now completely packaged for sale. If we actually go down the PFS route there will no doubt be more funding required as it is expensive....so from my side now I am expecting a "sale" once the final Met report, Updated Jorc and mining license is obtained. So my forecast has changed for a sale towards the end of March 2020. In the meantime I am going to sit on my hands and wait for the slingshot...as this will only happen once they announce the sale in one form or another. IMO.GLA.

@Shed...I feel the trust factor at play here again....not so sure anymore...something changed from the 5th Dec tfor them to announce a Preliminary report....dont get me wrong but why was this not conveyed up front ??

@ Gizzard...Im with you...I have no option but to hold as I have invested over R2M ZAR..... but where does it state Preliminary Met report in the RNS dated 5th ???
"Further to the Company's announcement of 15 November 2019, the locked cycle testwork is now compete and the Company looks forward to receiving the independent metallurgical report from Wardell Armstrong LLP before the end of the year. Such a report will provide an initial understanding of the potential saleable zinc, lead and silver concentrates obtainable from the Toral project, in addition to data on potential recoveries from a future mining process and identification of any by-products from future production."

Thanks Bobby....However now we know what the "consequences" of a PRELIMINARY Met report are.....everyone thought it would be the FINAL MET REPORT....hence LR talking "consequences"...he already knew ....something changed between the 5th Dec and when they decided to produce a preliminary report.....why was this not announced when they knew....now I can see why there was no steady rise with the SP.....cause the Preliminary report is just that....preliminary....Im really P%%%ssed off...and these guys DO NOT DESERVE A RAISE IN THEIR SALARIES !!!

Absolutely underwhelmed Bobby.....All we can do is hold now...This was stated in the RNS of 5th Dec...."Metallurgical testwork update

Further to the Company's announcement of 15 November 2019, the locked cycle testwork is now compete and the Company looks forward to receiving the independent metallurgical report from Wardell Armstrong LLP before the end of the year. Such a report will provide an initial understanding of the potential saleable zinc, lead and silver concentrates obtainable from the Toral project, in addition to data on potential recoveries from a future mining process and identification of any by-products from future production." Again...they let us down and never delivered.....

@Oils...then why didnt he say something about this BEFORE......releasing the Mets...these guys never learn imo...
‘ Wardell Armstrong has recommended that testing for deleterious elements and by-products be conducted during the second phase of metallurgical testing, once new reagents and zinc suppression processes are examined to avoid having to conduct the same work twice as the flow sheet evolves. ‘

Well to be honest...another half baked report....Im very p@@@ed off...first time I have seen a met report with no testing for deleterious elements or by-products ...
Why were they so hell bent initially even stating in previous RNS they were keen to see what by products come out and now nothing said about them....these guys sure know how to F%%k up a good project. IMO GLA

Yep...I get the feeling sometimes that it completely out of his and our hands....waiting on WA at the moment...also MM's are a law unto themselves by the looks of things...the sooner they are done away with the better for all I would say...IMO.DYOR

Yep..it seems like its a reversal of the trade yesterday but it should have been reversed at excatly the same price....I see its for 300 pounds more...very strange indeed....also a "sell" yesterday....today a "buy"....makes no difference I suppose and is not included in the volumes quoted on LSE EUZ trades..https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/AU0000014342GBGBXASQ1.html

..I hope you are wrong Bobby...otherwise EUZ will be late reporting the Mets...after all..they did say 4th Quarter 2019....and you know what happens on AIM when management do not deliver on their promises to the market :-$

Definitely :-$....no need to guess Lloyd :-$

TOD -024 ....Assay results soon ?.... Its now mid December...so expect an RNS as well on the below which was in the last RNS...
The drilling of hole TOD-025 will continue to mid-December 2019, when the contractors, Sondeos y Perforaciones Industriales del Bierzo SA, are expected to suspend operations for the Christmas period. The drilling of hole TOD-25 is anticipated to recommence in early January 2020, as planned and in line within the Company's drilling schedule, with the drilling of further holes thereafter.

Its a public holiday in SA today....so not so sure whether the RNS will come today on LSE...I sincerely hope so :-$

..A huge week ahead imo.....Re-rate on the cards ....exciting times ahead. GLA.

Hi Shed....I think the Europa website is not up to date....we have 4 persons on the ground in Spain by all accounts :-$
https://www.proyectotoral.com/equipo/

No Worries Shed.... :-$ we all want the same success story in the end.... I hope you are right about the suspension though....the thought did cross my mind ..... Locking DB out :-$

So Shed...To finish this discussion ...there are approximately 15x more shares in issue today...so this should then be reflected in the MCAP...... 15x the Mcap of 1,795, 908 (as at April 2016) would make it worth approx 27M UK pounds today.... So hence my grossly undervalued statement. :-$...and nothing to do with the number of shares in issue.

That was not my intention at all Shed. The MCAP calculated as at April 2016 was as follows:
1,282,791,883 shares in issue in April 2016. Source https://www.sharenet.co.za/v3/sens_display.php?tdate=20160428072200&seq=6
MCAP in April 2016 was worth 1,795, 908 UK pounds.

@ Oiltap...interesting point you mention that an 18m ton Jorc has been delivered in the last 2 years from an initial 8m ton.
I also went through some of my research documentation when I first invested in FCR a few years back and found that once they had completed their due diligence of Goldquest Iberica , FCR's SP was on 11 April 2016, 0.14 pence per share.....Yep...thats right 0.14 pence per share !! Source : http://www.24hgold.com/francais/article-compagnie-or-argent-completion-of-due-diligence-on-goldquest-and-lead-zinc-proj.aspx?articleid=1812763
Since then the BOD has changed radically and has been very focused in terms of delivering value, based on very little spend and curtailing costs to Toral research/development only.
Now think about all the de-risking that has taken place since then ...Scoping Study, Indicated Jorc and now pending Mets....and the SP is now 0.025 pence per share ...this imo is totally laughable and I find it inconceivable that the market has not picked up on this grossly undervalued share. I also think Turner Pope' decision not to issue a new Brokers evaluation note after the last Jorc update ...most probably only wanted to do one after the Mets release ...in hindsight was a very bad error of judgement, both on their part and EUZ BOD.