Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I agree SL - It will be exciting to see how the news flow is handled for the first two drills as this will set the pattern for the 23-28 drills that are to follow by the end of December.
A minimum of fortnightly updates was mentioned in the podcast, but many a slip between cup and lip...
I am not an expert - and there are many others here that are more technical than I am, but my understanding is that the mineralisation we are looking for has a particular 'signature' and it is that signature that we are looking for when deciding whether or not there are likely to be extensions to the known deposits. - Not a precise science.
As far as I know the only way we can be 100% sure of what is down there is to complete the drilling programme - and that appears to be well in hand...
I am happy to be corrected...
Yes,
Good to see that the whole 8,000m , 13 hole, first phase of drilling is focused exclusively on proving-up, and finding extensions to, Racecourse. Nice to see that we are keeping an eye on the ball for a change.
Also, first two drills now approaching completion - so we will probably be 6-8 drills into the programme when the first assay results are reported - but of course we will already have visual results from site before then so we will have a good idea of what to expect from the assay results...
One of the best-presented technical podcasts I have ever seen, to be honest - and one that I actually understood!
How long before the market catches onto the the reality of what we have here?
Just added another couple of million to to pot - SP ridiculously cheap now...
Sq52,
I'm not sure that a 2mt open pit has ever been suggested?
I think that the 2mt is for the whole porphyry and the point of the open pit is that it should contain enough mineralisation at sufficiently high grades for the profit to cover all the capex and set-up expenses so that relatively low grades throughout the rest of the porphyry would still be profitable to mine.
If and when we get to see the recently commissioned open pit model we will have a better idea of what is actually needed to make the open pit plan viable - then it's up to the drill bit to do the talking...
Providing it is sustained, the recent rise in the POG is good for our eventual Manica income.
Previous drill reports have tended to be late morning/ early afternoon - due mainly to the logistics of CB getting am updates and then having to produce an RNS.
I know that CB promised regular updates throughout the phase 2 drilling, but I am not sure he promised a blow-by-blow account like we had in the early stages of phase 1? In fact I can't remember getting any details of a reporting structure at all.
Perhaps we will only get informed upon completion of each drill, rather than at commencement?
As always with XTR, there is no detailed plan shared with shareholders - so we will just have to wait and see.
We normally get about 4 weeks notice of the AGM - unless I have missed it (I have been missing quite a bit lately), I don't think we have had any notification - so no AGM likely before the second half of August?
With Australia being several hours ahead of us, the drilling should be well under way by the time we tune in tomorrow - providing, of course, that they hit the 15th July start date...
A nice 10% increase here today. It's been a while...
Agreed, TBIY - and hopefully many of us will be a lot better off, to boot...
Does anybody else get the impression that the SP is being primed for jump this afternoon?
A bit harsh, 3CB, to shoot the messenger?
I see the MMs are playing their usual lunchtime games - dropped the bid to 4.1 for no reason other than to try to flush out some sells...
Sells are going through at 4.1333p - so probably just MM games, maybe a tick-up due?
Hello Steve - that would put the end of phase 2 drilling (20,000m) into Q3 2022?
I hope to God that you are wrong!
I don't see the sense in contracting two rigs and then letting them both sit around doing nothing for 12 hours a day. So I would say it's a given.
Based on a previous drill rate of around 70m-80m per day, two rigs and a couple of days to re-locate a rig between drills - that would put the completion of the first 13 holes ( 8,000m) around the second half of September.
I therefore take it that the "end of November completion" comment related to completion of the whole of phase 2 (20,000m) - including Footrot and the additional exploration drills?
If this is the case, then a decision on the open pit mine should be possible in late September/ early October.
Hello Dibbs,
Yes, that is also my understanding.
In the interview today CB confirmed that open pit mining is viable down to 600m below surface - and that fits nicely with 13 holes accounting for 8,000m in total for the first part of phase 2 drilling .
Welcome, DVH.
You may well have chosen a good time to test the water...