Member Info for CaveatEmptor

The signs here are that the SP will soon be on the move...

Looks like most of the reduction in holding percentage has come from dilution due to the placing hitting the market first week of February and warrants up until the 8th, when another 4m shares were issued?

IF "higher up" means "further north" then the position of hole 3 will be pretty much as shown in the diagram and will be drilling a line that passes under proposed hole 8 and extending some way past it so as to prove the extension of the porphyry at depth to the west of the existing narrow northern section.

This would then give evidence of an extended porphyry that can later be detailed by drills 5,6,7 and 8.

This would mean that the longer the drill the greater the extension.

That would seem to make sense, but what do I know?

Regarding the progress of hole 3,

I have decided to give up speculating, as it seems that there simply isn't enough consistent information to make any acurate predictions.

Que sera, sera - I will wait for the next RNS and see if that holds anything of substance.

GLA

POC at time of sale agreement was $3.00 and is now $3.9 per lb - so an increase of 30%+, I am no mining expert, but that must make a huge difference to the profitability of a mining operation.

And the POC is forecast to go only one way...

The first three drills were originally planned to cover 2290m
Drill1 = 815m planned depth
Drill2 = 750m planned depth
Therefore drill 3 = 725m planned depth.
Given historical drill rates, we should be just about there today.
- providing, of course, the original total depth plan has not been changed...

Yes, I have had several email conversations in the past with CB, using the published email address.
We have also had several telephone conversations . I have found CB to be very accommodating and he does respond to constructive communications whenever he has the time and AIM rules allow.

None taken, theiceberg,

I know that TW does not rate them - and the New World Oil saga was a fiasco - although I made quite a lot of money out of it at the time. I guess I was hoping that they had turned over a new leaf...

Hello Phoenix,

CB and TW had a big fall-our last year, so not sure you should set much store by anything TW says about CB - more likely to be an attempt at stirring the shiit than accurate reporting IMO...

The FCA is pretty well on the ball when it comes to RNSs that really do not say anything new - it would not surprise me if CB was advised by our NOMAD to only publish when there is something material to say ( maybe CB has been pushing his luck over the last few weeks?)

So, at this stage of the game no news really is good news, so be careful what you wish for...

Hello HD,

I can let you have another 4 shares, if you like - to make your holding up to a nice round 10? - LOL

So, Maybe better to take that one with a pinch of salt?

Although I don't think anybody has come up with a date, as yet...

True, but I have heard that he is resigning from JLP to spend more time on other projects?

Many thanks, Shorn.

You could well be right - but I was thinking of a company a little closer to home:

"Xtract has conditionally been appointed as contractor to oversee and commence initial production from the Kalengwa dumps of approximately 1.34 million tonnes with a potential to contain 25,000 tonnes of copper metal"

By my reckoning that would be worth about $150M selling price to a local smelter...

You Know,

I have been thinking...

There must be a lot of old world-class copper mines out there that have built up tonnes ( literally) of reasonable grade tailings that were not worth the effort to process when the POC was half, or less, of its present price, but now they could be worth a fortune.
I don't suppose anybody knows of a company that has exposure to that sort of windfall, by any chance?

Last I heard, CB had taken on new people at XTR so as to free up his time so he can concentrate here and at BZT.

So, once the phase 1 drilling has been completed over at XTR he will probably hand over the reigns for the rest of the drilling programme and we should expect things to start moving here - hopefully with clarification on the monetisation of SZ...

Hello Jamesie,
I can see where you are coming from, but CB did say that he would report any significant change in the mineralisation so I guess that would go for it petering out as well as for a significant increase.

- And each day that we continue to drill will add an extra 25%+ onto the width - so 65%+ tomorrow, 90%+ on Friday etc

So lets hope we don't get an RNS before the weekend...

So what is the current depth of drill 3?

Let's look back:

Drill 1 ( through continuous mineralisation): 213m on Jan7th and 1089m on Jan 20th = 876m in 13 days = 67m per day.
Drill2 ( through continuous mineralisation, with one day lost for mechanical problems): 405m on Jan 28 and 846m on Feb 4th = 441m in 6 drilling days = 73m par day.

So average drill speed for both holes is pretty consistent.

It would therefore be reasonable to take an average of these two figures, i.e. 70m per day ( and we can be pretty sure that there has been no mechanical breakdown on this drill as we were told that this would be immediately reported). So we can say, with some confidence, that over the last 5 days, since mineralisation was encountered, we will now have drilled about 350m through continuing mineralisation.

As has previously been discussed the existing model of the porphyry shows a maximum width of around 250m of mineralisation.

It would seem, therefore, that we have currently found the porphyry to be about 40% wider than previously estimated?

Happy to hear any corrections to my calcs/assumptions, but it certainly looks good from where I am sitting...