Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Proto gabbro being targeted here is modelled as being shallower than what was encountered at A2-2. In line with the model we're expecting to hit it at approx. 450m depth (with hole going on to 950m), so if the model is correct we'll already have struck it at the rate of drill you suggest.
So either (1) we haven't struck it, hence no RNS, and the model is incorrect, (2) we struck it but not necessary to RNS, as others here have pointed out, or (3) there's an issue with the drilling (which may be RNS worthy, but not necessarily immediately). I'm thinking it's (((2))) :)
I quite like the music refs, also keeps things a bit lighter at times. Maybe a compromise, something after the link like [musica]...
hi news, where is the RNS for this? I only saw PJs tweets, no RNS notification. Just checking in case I'm not getting the updates, can't be missing out on this!
On 3 September on Instagram Xavier Moonan posted what looks like a section from a local newspaper, a gov notice advertising planned Coho pipeline and asking for public responses within 30 days. Newspaper looks dated the same day. Some countries don't need public participation recorded in a gov gazette but needs to be made public in this way, hope this helps.
aprogerson,
No, not next to nothing! The payments news is talking about are ADDITIONAL payments in case of drill / JORC success thresholds.
CCZ must pay an upfront, non-refundable deposit of A$ 50k as per the option agreement, as well as a A$1m script payment in Castillo shares to purchase the licences if they choose to exercise the option. And then the exploration costs as well, as you mentioned.
""The terms of the 90-day option are as follows:
· A$50,000 non-refundable deposit in cash on formally granting the option that will go directly to Synergy for working capital purposes.
Upon exercising the option within the 90-day period, the binding consideration terms are as follows:
· A$1m script payment in Castillo shares will become payable to the Vendor Group based on the 14-day WVAP calculated from the date of which the option agreement is announced to the ASX.
· Note, the Vendor Group will be subject to a 6-month voluntary escrow period for 50% of the shares and 12-months for the 50% balance from the date of settlement. In addition, both parties agree to sign off on a binding term sheet.
Incremental consideration terms are applicable if the following milestones are achieved:
· A$1m script payment in Castillo's shares to the Vendor Group based on the 14-day WVAP if two drill-holes produce assayed intercepts greater or equal to a true width of at least 10m @ 1.3% Li2O.
· Note, the two holes will be at least 100m apart, but not greater than 200m.
· A$1m script payment in Castillo's shares to the Vendor Group based on the 14-day WVAP if a JORC compliant total inferred resource of at least 7Mt @ 1.3% Li2O is modelled by SRK Consulting.
· In the event of commercial mining operations commencing, a 2% NSR will be payable to the nominees of the facilitator.""
[RNS 29 Sept]
news,
just to add a titbit for the recent licences granted, we know that apparently the Eastern and Border anomalies share additional structural similarities (i.e. in addition to magnetic anomaly and gravity high) wrt depth and geology:
"Three major magnetic anomalies now identified (Western, Eastern and Border anomalies), and the review suggests the initial targets for drilling will be the Eastern and Border anomalies, which are located closer to the Wallal platform edge at shallower depths than the Western anomaly.
&
Moving from west to east within the Wallal Project, the datasets highlighted that the magnetic anomalies were determined to move from deeper to shallower depths as they approached the Wallal Embayment sedimentary basin gravity edge feature, which roughly follows the claim border between the Wallal licence application and Rio Tinto's exploration licence footprint.
As a result, the two furthest east anomalies (Eastern anomaly and the Border anomaly) were determined to lie at depths more comparable to those found at Greatland Gold's Havieron discovery, nearby within the Paterson Province, which is located below 420m of post mineral sedimentary cover."
[RNS 1 September]
"Greatland Gold's Havieron deposit discovery is located in basement rocks hidden below roughly 420m of post-mineral sedimentary cover which resulted from the drilling of a distinct magnetic geophysics bullseye target.
Review of unprocessed 2D-seismic and ground gravity datasets have provided very rough estimations of the target depth to basement rocks of the three anomalies at Wallal Project. The depths indicated by this analysis indicate that the Eastern and Border anomalies are possibly located at depths more comparable to the Havieron deposit."
[RNS 13 September]
Good we got the two licences that cover the East / Border anomalies then, Western anomaly is deeper but still potential - so of course hoping we get on that too.
The sign up page is just to register your interest; i.e. POW will collate a list of interested investors, who they'll forward to the brokers handling the transaction. As of yet, no brokers have been in touch (at least not for me).
Loads of additional options for insiders when share price is in the doldrums, expectations of a new raise likely within the half year and clear shareholder frustration about lack of communication and progress is pretty vexing tbh
news, to clarify, the broker report was actually from April 2021, so a while back. Much has changed in the interim! I imagine there'll be a broker update once the first IPO takes place and proof of concept is... proved... as it were.
Just to add to the list of targeted IPOs, which didn't include First Class Metals which we're not listing ourselves but which we will have a sizeable stake in and which is also expected this year.
"To ensure Castillo Copper delivers on its strategy and creates value for shareholders, we are
accelerating our exploration efforts in the Mt Isa and Zambia copper-belts. Our goal is to have an
initial resource estimate for the Big One Deposit, with drilling underway at the Arya Prospect and
Luanshya Project in Zambia during the first half of the 2022 financial year. We are now in a prime
position, with excellent projects and a highly qualified Board, to potentially transform into a copper
producer."
Australian financial year runs July to June, so first half of the financial year is end of Dec ... they have said they are hoping to have an initial resource estimate for Big One complete by then! So while there might be more drilling planned, I can't see more drills and assays back in time, given the backlog everywhere, before the end of the year. This suggests they're keen to model the resource with what's already been drilled - and perhaps then augment the resource estimate when new data becomes available - e.g. with the as-yet-untested lode line slightly north.
CCZ 30 June 2021 Annual Report released today as well; strange that it wasn't RNSd in the UK while it was announced in Aus, signed off by Scott yesterday... link here:
https://wcsecure.weblink.com.au/pdf/CCZ/02427572.pdf
(this link is from and is available on the ccz website in case the above doesn't work)
I love the Botswana projects and I'd LOVE Tati to come right -- such conviction and rapid exploration. Good results here combined with the IPOs of New Ballarat and First Class Metals all in Q4 2021 (!!!!) would be the real beginning of a realisation of POWs business model: combining internal development where deemed fit and fruitful with partnerships and spinouts. And to show how quickly POW can move from screening and purchasing licences to drilling and testing.
Something like this, perhaps combined with some material KCB progression and Silver Peak assay results, would greatly showcase and prove up PJ's vision, besides hugely strengthening the balance sheet with both assets and cash. Then we are looking at real inflows as skeptics see the model works and the true scale of the projects on board become reality.
Great stuff! Would add that results for Kapunda could also be in, drilling should be done by end Oct.
I'm disappointed with the tone of the RNS - it's way too casual, lacks professionalism and doesn't articulate a clear direction for both Cyprus and Labrador. That being said, I believe we have the makings of something potentially enormous and I don't think the share price will drop much more than it has; placees willing to wait another 1 or 2 months for results and mcap is so low that it wouldn't take much to give it a proper boost. I'm holding on to what I have!
"With our extended drill programme and delays at the lab, realistically our Cyprus drill results are going to be pushed back to November. We will be providing further updates on our operations there shortly. However, I pleased to report report that we have just completed our field program in Labrador, and we will start to bring results and news from that work programme soon on specific targets there."
Shortly and soon being the important words in the above. Let's hope the communication is much better in the near term.
I could be wrong but feels to me this share almost always opens lower than previous close ... and has to do some hard work to make it back up! Could do with MM's being a bit more friendly :) :)
Need a good follow up interview to put this discovery in perspective and really put pressure on demand, force them to raise the price.
that's actually quite funny - at least the outrageous deramping is sometimes accompanied by a touch of quality humour!
There's an audio bar hidden away at the bottom, before the YouTube link to stockbox, strange it's so difficult to find! Think it's a new interview, no?
Agreed Chrish, saw this link shared on another copper-company board. Great rule of thumb for indication of high-grade copper resource, for anything shallower than 300m and viable for open-pit mining processing = drill intercept of 100m x 1% cu.
Here we have 73m beginning almost at the surface, just for starters, with much more to come. Also, importantly, potentially much lower cost ISR processing than even open pit likely means that that rule of thumb can be even narrower, let alone environmental impact... I'm looking forward to assays to come and the boost to that resource inference!
https://www.mining.com/web/making-the-grade-understanding-exploration-results/
PS I took a small stake here after coming across THR through the POW deal (I'm a holder there). I like this company's ethos (think the Gov partnership and obviously Kapunda is a fascinating proposition) and think the prospects are good, both short and longer term.