Member Info for Cowichan

wow busterhogdog - there is a little thing we like to use called etiquette on this chat board, please use it. and if that doesn't work for you there is another word called tolerance. and if that doesn't work maybe you should thank the heavenly dust gods you live in a nation that protects your right to free speech and allow others the same privilege

A possible reason/contributing factor that management talked about yet didn't approve a share buy back could be they plan to use the money sooner rather than later in Burkina Faso - at least that's my hope !

Hey! Nobody mentioned this delightful news:

'Batie West Project, Burkina Faso, is in the final stages of an internal scoping study with independent consultants Cube Consulting.'

A scoping study is a preliminary study to define a possible metallurgical circuit of a project. It provides you with:
An initial flowsheet complete with a overview of unit operations required
Grindability data
Indications of metallurgical difficulties or fatal flaws, if any
Indication of pay metal recovery
Environmentally sustainable tailings, water and other waste treatments
Possible final product grade

So basically we're going to get a revised mine plan from these guys
And that means we are very close to a decision on developing Phase 1 in Burkina Faso

Hmm. I don't see it. I've only sent a few messages myself so I'm not very savvy. Maybe it's a function that depends on who is a follower. I've set my preferences to receive messages from anyone though...

Nope. No response from IR to date.

Sorry I didn't catch your attempt on Twitter. Try sending a direct message...
@donaldplawson

...that way I'll know if my Twitter handle is actually working!

I'm hoping this will be a well learned lesson to management going forward. Sukari has been running glitch free for so long people get complacent!

What I really can't wait for is the announcement(s) concerning West Africa. A job posting went up just a few days ago for Burkina Faso... one of these days it's going to be ours!

'...this position will ensure all the technical services and mining operations responsibilities are taken care of within the framework of developing a new mine...'

https://globe24-7.com/job-search/BBBH3145_153260697270292

That he did...
And boy could we have us a boisterous discussion while still managing to learn from each other.

'As a result of the latest stoppage and the time it will take to bring the operation back on line and at full tilt, Randgold said it would have to review its 290,000-ounce gold output forecast for the year...'

http://www.mining.com/randgold-to-revise-full-year-forecast-as-readies-tongon-mine-for-restart/

just got back from some time away but what the heck ? turn the dial back a month and all I was reading is ton-fra-cen SCREAMING a buy...

Oh how I miss our old friend sinnerthesaint's no BS talk

Wheaton has bought all of Stillwater's gold production for the life of the mine... The Vancouver-based firm has paid the South African precious metal miner $500 million in cash upfront... http://www.mining.com/wheaton-closes-streaming-deal-gold-miner-sibanye/

When will investors tire of CEO's giving away the farm?

'The state of SA’s gold mining industry is worse than first thought, with fewer than 20% of gold mines making money at prevailing prices — while large job cuts are forecast in coming years, following decades of steeply falling employment.'

So, how long can gold stay at its current level? And why in the heck did Kelvin Dushnisky leave Barrick to join AngloGold Ashanti? Operations in Ghana, Tanzania, Guinea, South Africa... it's going to be a nightmare...

So this is new... Egypt's latest budget includes a big chunk of change to invest directly in gold mining thru public / private partnerships...

'the government investment plan, in partnership with the private sector, earmarks $24.4 billion to develop gas and oil fields... $8.2 billion will go to oil refining projects... $12.6 billion to build natural gas and oil transmission lines... $4.2 billion will be dedicated to produce petrochemicals, and $2.8 billion to expand mining projects, namely gold mining.'

Read more: http://www.al-monitor.com/pulse/originals/2018/07/egypt-parliament-confidence-government-investment-public-ppp.html#ixzz5MSS9twjA

Is this positive? Somebody please weigh in...

When 'peak oil' started becoming a problem 10 years ago, the industry developed new fracking and horizontal drilling technologies. And other industries like solar and wind began developing better substitutes for oil. But there's not really a substitute for gold. And the biggest players in the space are saying we're running out.

Ian Telfer, chairman of Goldcorp. In an interview with Financial Post, Telfer said:

"If I could give one sentence about the gold mining business … it's that in my life, gold produced from mines has gone up pretty steadily for 40 years. Well, either this year it starts to go down, or next year it starts to go down, or it's already going down… We're right at peak gold here."

http://www.businessinsider.com/a-billionaire-is-sounding-the-alarm-on-a-global-gold-shortage-2018-7

Gabriel Resources, a Toronto-listed gold company that has spent more than 20 fruitless years trying to open Europe’s biggest gold mine, has lost yet another CEO as its development prospects vanish.

Gabriel announced that Jonathan Henry, the Irishman who has led the company since 2010, was leaving immediately to “pursue other opportunities.”

https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-once-so-promising-gabriel-resources-loses-another-ceo-as-companys/

Three-quarters of SA’s gold mines are unprofitable or barely making money, says the Minerals Council SA as the sector enters wage talks that some participants hope will reflect the realities bedevilling the sector...

Among a long list of demands, the NUM is demanding that basic entry-level wages be increased by 33% to R10,500/month from R7,785. Amcu, with its usual demand of R12,500/month, put its demand at 58% above prevailing wages.

With labour costs making up 53% of gold mining costs, an increase of those proportions, combined with the costs of the other demands, would force marginal mines out of business and lead to large job losses....

https://www.businesslive.co.za/bd/companies/mining/2018-07-11-minerals-council-says-75-of-sas-gold-mines-unprofitable/

management is so tight lipped on many issues is owing to the jurisdiction(s) in which they operate/hope to operate. Developing nations - Africa in general - can be particularly susceptible to corruption within government ministries.

Just imagine the incentive to abuse your authority as mining concessions are granted in Burkina or Cote d'Ivoire.

Randgold has publicly complained numerous times about Cote d'Ivoire's ineptitude when it comes to sorting out permits and the like - who knows if that is the right or wrong tact to illicit results...

One thing is for certain - the drilling results we have in West Africa are extremely promising and will be exploited sooner or later

I believe they are keeping the initial stage extremely simple to process and shallow to access (less than 40 meters deep ) so that should help cut costs... now that's either prudent or foolhardy depending on one's investment thesis ... we know that Centamin's management prefers to look before they leap ;-)

http://orezone.com/orezone-announces-positive-feasibility-study-for-the-bombore-gold-project/

Highlights (proposed Burkina Faso mine)
Initial project construction costs estimated at $143.7 million with a 24-month construction period with first gold pour targeted by Q4 2020
LOM sustaining capital costs of $58.9 million
LOM cash costs of $677/oz with cash costs of $445/oz in the first 3 years
LOM AISC of $746/oz with AISC of $485/oz in the first 3 years
Mine life of 13 years with LOM gold production of 1,024,239 ounces and an average annual production of 102,613 ounces in the first 7 years

maybe this blip will work in our favor - management should take our concerns to heart and support the share price at every opportunity - and wow is this an opportunity

It's time management fought back - share buyback!