Member Info for CaveatEmptor

Colin said that GLR has been vastly under-valued by the market for quite a while, and looking at today's reaction to an RNS that was worth at least 0.4p on the SP , it appears that the market is determined to under-value this company for quite some time to come...

Hello Gixxer,

I just may be an eternal optimist, but my reading of the RNS is that the contribution made by gold to the overall Cu equivalent grade will be more than that of the copper itself.

So if the average copper content is 0.3%-0.4% then I would expect the final Cu equivalent grade to be at least 0.6%-0.8% - but I could be wrong...

This RNS is the strongest indication yet that Bushranger is as good as, or better than the Boda discovery.

When the size of Boda was absorbed by the market, it added over £100 Million to the Market Cap.

Will this be a case of deja vu?

So, already compares favourably with the BODA discovery and they expect the gold grades to be better than the copper.

This could be really big, guys...

Hello H5O,

I think that will depend on the result of drill 2 - if we get good results then 9p is achievable IMO.

I think that the result of the conversations over the weekend is that 150m average width is the tipping point to trigger the AA buy-back - but I guess it will take a few drills to prove up the average...

My understanding is that AA can buy back 80% at fair market value when the clause has been triggered but they are not forced to do so.

I may be wrong so am happy for correction...

Presumably the phase 1 drills are now also designed to test the width at depth as well as at surface?

Hate to say this, as it may sound like a ramp...But if average width is 250m over a 1000m continuous strike with 940m depth then the value of the porphyry is blown out of the ball park!

Just saying...

Yes.

Hello News,

I am not sure we can say that Bushranger is "more of a copper project with associated gold " until gold grades have been verified by the lab.

Certainly our copper grades are much better than those of BODA, but gold grades could well be comprable as they were not comprehensively tested before and are thought to increase with depth - Now almost 1000m as opposed to the previously executed shallow drills. A decent Au grade could increase the Cu equivalent to a level well above that of BODA.
Fact is that there is everything to play for at Bushranger, CB has stated that it is set to be a major play and he is visibly excited by the current prospects - and that is certainly something special for a 77 year old with many decades of experience in the industry...
Everything is adding up to BR being a very special discovery IMO, and I, too, am excited about the next few weeks.

ATB.

Not a personal comment, Dave - should have read " Hello"

Jello Dave,

Whilst 10p is very realistic in the short term, that is just the start IMO,

When you look at the bigger picture 20 - 30p is a definite possibility for the medium term.
CB has every motivation to maximise the Market Cap here, and I believe he is on mission to do so...

GLA.

If we assume a total strike length of 1000m then 200m diameter is equivalent to an average width of 30m, 300m diameter is an average width of 71m 400m diameter is an average width of125m and 500m diameter is an average width of 196m...

Hello Ella,

Using diameters was the easiest way to.calculate ot
It is the area that is important rather than the shape so a diameter of 300m is equivalent to a strike that is 100m wide by 700m long or 200m wide by 350m long etc.

* for 0.5% take the 0.6% figure

If anybody wants to explore the effects of lower grades, then for 5% take the 6% figure s from the list and multiply by 0.83.
For 4%, multiply by 0.67 and for 3% multiply by 0.5.

Diamter: 200m.
Tonnage at 0.6% =0.5 M
Tonnage at 0.8% = 0.7 M
Tonnage at 1% = 0.9 M
Diameter: 250m
Tonnage at 0.6% = 0.8M
Tonnage at 0.8% = 1.1M
Tonnage at 1% = 1.4M
Diameter: 300m
Tonnage at 0.6% = 1.2M
Tonnage at 0.8% = 1.6M
Tonnage at 1% = 2M
Diameter: 350m
Tonnage at 0.6% = 1.6M
Tonnage at 0.8% = 2.2M
Tonnage at 1% = 2.7M
Diameter: 400m
Tonnage at 0.6% = 2.1m
Tonnage at 0.8% = 2.8M
Tonnage at 1% = 3.5M
Diameter: 500m
Tonnage at 0.6% = 3.3M
Tonnage at 0.8% = 4.4M
Tonnage at 1% = 5.5M
I have rounded to the nearest 0.1M.
As we can see, there are several combinations within the range of calculations that get us to the magical 2M tonnes of Cu equivalent that will trigger the AA buy back clause.
Let's hope we get a better idea of Cu grades from the Geo report next week and regular updates over the coming weeks on the drills 2 -6.

GLA.

So, I have had a look at the effect of various results for each of the variables on the final tonnage of copper.
I have assumed that the porphyry is a cigar shape as has often been said by CB so the system basically has two dimensions, diameter and length. We know the length is 940m so I have looked at various diameters between 200m and 500m. As explained yesterday, I do not think we will exceed 500m as the drill will only be 700m in total and we will have to drill about 200m before hitting the mineralisation.
As for the grades, based on the two published results, both of which were said to be at the lower end of the scale with much higher mineralisation over the vast majority of the drill I have taken a range between 0.6% and 1% average Cu equivalent with 3 tonnes of rock per cubic metre.
It turns out that whilst grade is important, the diameter is more so. The relationship between grade and tonnage is linear - so double the grade and you double the tonnage, but the relationship to diamter is parabolic so if you double the diameter you quadruple the tonnage. My next post will give examples in more detail.

Agreed, but although hitherto on the back-burner I think the issue of the licence is imminent.

I do not post here very often, but as I own about 1% of the company I will be keeping a close eye on proceedings.

GLA

I will post my conclusions tomorrow, spammer allowing...