Member Info for CaveatEmptor

Good to hear, though, that an area has been cleared in Kalengwa and that material is being shipped to a local processor- so income due to flow in the short term...

Also good to hear that, by the end of the year, we will have $500,000-$600,000 income per month from the hard rock in Manica, in addition to the income from Zambia.

Confirmation that ongoing exploration at Bushranger will be totally funded from company income is also welcome news.

So, a nice little hattrick coming up from CB and Xtract - the only shame is that the game is having to go into extra time before we can see the goals being scored.

By all accounts, Covid 19 is still rampaging through several African nations, including SA, and there are emergency lock-down regulations all over the place - maybe that could be the reason for Manica production being pushed back to Q4?

Well, it is now 14 days since commencement of 010, so even at a conservative estimate of 50m per day that would put the current depth at around 700m.

As the average drill depth of the current 13 hole phase is supposed to be about 600m, that would mean that we have gone well over the average for all of the drills to date, including 010.

It ls looking to me like we could end up with drilling considerably more than 8,000m in this phase - what will that do to the December 2021 backstop finish date to the current phase?

On the upside, they are not likely to drill beyond planned depth unless there is continuing mineralisation, and every extra metre found will help to increase the overall size of the deposit beyond original expectation - So from that point of view, no news is definitely as good as news can get.

Based on the drop from 1.16 CAD to the current 0.36 CAD over the last six months - I would hazard a guess that very few have taken the plunge...

Good to see that CB isn't the only one that has slipping time-line issues!
I guess it is the same for all companies - they can only give forward guidance based on the information available at the time - and in the real world things tend to change over time, and 9 times out of 10 those changes result in delays...

It was confirmed in a recent podcast that the drills are turning 24/7.

Hopefully their 50m/day pace will increase a bit as the previous company managed 70m/day.

As these two drills are at a much steeper angle I would guess they are testing depth - so could be quite long drills that will keep going whilst there is visible mineralisation - so maybe no news before w/c 15.08?

Well Empress Royalty still expects production at Manica to start in Q3, according to their August 2021 presentation - albeit with a caveat of (Est):
https://empressroyalty.com/site/assets/files/6094/2021-08-04-cp-empr.pdf
And the presentation was only published yesterday, so must be based on most recent intelligence...

CB's done an interview - but for BZT rather than us - a bit much for us to expect an interview for every hole, I think?

Based on both drill 007 and 008 the contractors seem to be managing to drill about 50m per day - so that should help us to calculate the drill lengths as we wait for more news...

An interesting article, courtesy of Castiron from another BB:

https://www.france24.com/en/live-news/20210801-workers-at-world-s-biggest-copper-mine-in-chile-agree-to-strike

That would be my bet, Xeiger

If 500m is the 'core' then the mineralisation body could have a radius of up to 150m (300m deposit size) and still be perfect for open cast mining - perfect for a small mining company that has just sold a massive prospect...

I thought that CB was in Portugal at the moment?

The black Sheep may have to wait...

CB,

Hope this helps:
An inner collet tube and an outer ground tube, within a drill tube, protect the core sample during drilling. At depth, the collet tube is raised with respect to the ground tube so that the conical wall of the ground tube pushes constricting fingers on the collet tube inward, gripping the core sample within. The collet tube and ground tube are then raised, rotated, or raised and rotated, applying the necessary force to break the core sample off of the substrate. After retracting the tubes, the collet tube is lowered with respect to the ground tube to release the core sample. An ejection rod then pushes the core sample out of the collet tube.

ATB

I would certainly agree that the use of the phrase "as anticipated" is very positive when referring to the modelled area as it endorses the accuracy of the model.

Once we start drilling in uncharted territory I will be happy with "far exceeded our expectations" lol.

Hi Ella,

I think it has to do with orientation of the 3d model.

If you freeze the presentation at 21.24 I think you can see that the drill lines are pretty well pointing North East?

Looks like the first two drills are those into the high grade deposit shown centrally in the screen at about 15min into the presentation - they both show two drills from the same plate in the diagram, so this first shallower drill is the shorter one in the diagram, skimming over the top margin of the deposit. Looks like drill 3 will be a longer drill down through the core of the deposit - possibly to test the depth?

Looks to be a good start to me - it will be interesting to see if the second drill gives a similar result, it should do if the model is accurate...

Hello HD - How long do you think that would take them to get to production and trigger that 'success case' payment? - at least 10 years is normal, or so I've heard.
We have plenty of good short-term potential of our own, without having to count on far-off possibilities from Sandfire IMHO.
However their faith in the region does bode well for our own licences and, who knows, maybe they will buy a few more off of us at a more realistic price?

Hello Cygnus, I agree - but the point is that the cost of excavating the entire open pit area has already been factored in -The volume of pit costed for is many times that of the known resource and indications are that plenty more ore will be found within the modeled area... so any additional mineral found in the pit over and above the existing JORC deposit will effectively be mined for free.

Hello James,

Any extra material, regardless of grade (almost) within the open pit area ( huge) will be a free carry and will therefore add value - the mining cost for the whole mine is already covered in the open pit study. If there is an additional 2,000 tonnes of copper, it makes little difference whether it is at 0.2% or 0.5%

I stand by my comment regarding quantity rather than grade.

Hello Joe,

I agree. Also they will be able to tell by eye whether or not the mineralisation is continuous ( as they did in phase 1).

As this is now all about quantity rather than grades we should be able to put together a pretty good picture from site observations, even without the assay results.