Member Info for Cornishknocker

You may want to look at this next Thursday: -

https://www.eventbrite.co.uk/e/invest-in-the-future-of-mining-tickets-156502381837

Hopefully it will generate a lot of new interest - I also have a suspicion that there may be some drill results - totally coincidental of course.....

Or put another way, South Crofty is today in a similar position to Little Deer - flooded and basically abandoned - on that basis Rambler are worth the current share price ignoring the operating mine and mill.

Probably a good comparison is Cornish Metals, its primary listing was on TSX but now dual listed on AIM.

Market value wise they are on a par with Rambler and needing to spend $120 million and 3 years to get to where rambler are today.

And there lies the dilemma, do you keep spending money at United Downs, where you may have something or do you spend money at Crofty where you know you gave something, buy you need more money?

Yes just listened, I think the next 6 weeks is going to see a ramp up in the promotion of South Crofty.

I agree, I don't see lithium as a major driver although I was out at United downs the other day and Cornish Lithiums pilot plant construction is coming on nicely.

I think they have themselves a dillema now, at the time of the london listing tin was in the $20 - $22k band and they stated tgat they would reassess looking at dewatering crofty at $25k.

Indeed always blame the geos, they obviously need some new colouring pencils....

I didn't say a lack of definition drilling caused it, but it is likely to have been a contributory factor, along with an understaffed and underskilled technical services team - poor data and poor understanding leads to poor decision making.

The biggest issue the mine has is underdevelopment. They started this year with one stope in production and in March they lost that to a rockfall. They are now back with one stope in operation and a second in development, so by the end of q2 they should be looking at 2 production stopes and a 3rd in development, which should see approximately 900t - 1000t of ore per day headed to the mill.

Now the mine staffing is back to where it should be and definition drilling is proceeding, it should reduce the risk of another stope failure

A lot is made of the hedge as if its some form of bad management. The bottom line is it was a condition of finance that the amount hedged was hedged. At the time the hedge was announced it was for around 95% of the then copper price - that is an outstanding deal.

The main issue with the business plan was tge delay in financing, which led to the lower portion of tge mine flooding and work not starting until January. This meant that tge position the mine was in in Ictober was not recovered until February.

"Enrich themselves at the expense of the people" that never happens does it? It's happening here and in the USA for starters. The question is how much do the politicians take and leave.....

The problem with these jurisdictions is they are politically unstable, look what happened with Myanmar, 4 years ago they were a beacon, demonstrating change from a brutal military dictatorship to a midrange democracy- and then it changed overnight.

I absolutely agree on the face of it, it's nuts.

One reason is they could be looking to takeover the mine now its built - which would be a massive error, as it would result in the country reverting to a pariah state with a complete cessation of western investment. You cant rule out a state like China being behind the move either.

There was an interesting move in the Congo last night.

Yesterday Ivanhoe mines announced production had commenced at its new copper mine - the largest new copper mine anywhere in the world for some time.

Last night the regional government banned all copper and cobalt exports.

This is likely to have two major effects: -

1. There is likely to be an immediate upward move in the copper price.

2. People shoulf be seriously appraising what jurisdictions they are investing in. Going into the G7 There was already concern from G7 countries about security of supply, this going to increase that concern, it will be interesting to see if there us any policy direction from the summit.

For those that don't know the DRC produces 8% of the world tin, would they do the same to tin as they did to copper last night?

It's going to be an interesting one for copper today and miners in 1st world jurisdictions after the news out of Congo last night.

For those that don't know Ivanhoe mines have been developing a massive copper mine in tge DRC, yesterday they announced they had commenced production.

Last night the regional government of the area which it is located in banned all copper and cobalt exports.

That move is going to have two effects: -

1. The copper price is likely to see a shock upward move
2. People are going to start thinking a lot harder about what countries they are investing in.

One thing, the geothermal project is nothing to do as such with the cirnish lithium project, their proposed well location is about 100m away from it.

It's certainly interesting down here at tge moment. Tge funny thing about the video is tge guy presenting it at the beginning is my step kids father!

Just tell the lab what day you want the results back, that way you can release at a time of your choosing without any delay.....

One thing with Little deer is its a steep dipping ore body, making it amenable to conventional longitudinal sub level stoping as opposed to the modified transverse stoping used at ming, which is required due to the shallow dip of the ore body.

Longitudinal stoping is far more productive and economic with less waste needing to be mined as a result mining costs are likely to be significantly lower than ming mine.

No it doesn't, there us minor gold but nothing significant at all, that may change with further exploration

For me the deal I want to see is $20 million CAD for a 20% share of little deer, with $30 Million to be spent earning into 50% over the next 3 years, with the costs of development after that being split 50:50.