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Highlights
· Proven and Probable mineral reserves - 10.1 million tonnes containing:
o Copper - 109,487,970 lbs
o Gold - 104,000 ounces
o Silver - 4,654,400 ounces
· 66,467 copper equivalent tonnes of contained metal
Ryan McDermott, Chief Executive Officer, commented: "I am very pleased to report the first mineral reserve statement for our Empire open pit copper-gold-silver mine. The Proven and Probable reserves at Empire are 10.1 million tonnes containing 109,487,970 lbs of copper, 104,000 ounces of gold, and 4,654,400 ounces of silver, which equates to 66,467 copper equivalent tonnes.
"This reserve calculation upgrades our mineral resources into mineral reserves that represent the economically mineable portion of the mineral resources. The reported reserves are the result of years of exploration, drilling, and metallurgical testing, followed by meticulous engineering evaluation and analysis. It was estimated using assay data from 485 drill holes, extensive geological modelling, metallurgical recovery test work, geotechnical evaluation, and mine design.
"Mineral reserves meet the requirements of geological certainty, accessibility, and economic viability, and are estimated after allowing for mining and processing dilution, and thus represent the recoverable contained metal that is expected to be delivered to the smelter for refining into saleable product to generate revenue.
"I want to thank our team for their tireless hours of work and their dedication to our Idaho project. I look forward to sharing additional updates regarding the Empire open pit development in due course."
Seems a long way off in these markets at the moment. The rains have been heavy, we have no sense of any issues they may have caused. I think we are weeks away from any significant news, maybe summer when rains are done and work can begin in earnest.
Https://dailynews.co.tz/floods-kill-one-renders-21-homeless-in-rukwa/
Not good, will delay work too.
Easy to see the money being burned "we are growing the team to deliver the large amount of work that is continuing in the background "
Defo cash raise in summer imo.
I think funny how rns stating really not much on same day Helix is up and running, hmmm.
And DM wouldnt have diluted us with billions of shares either imo, good luck to him.
Oversubscribed placing with book of demand over £22 million to raise gross proceeds of £7.5 million
• Market capitalisation on Admission of £12.2 million
• Placing price per share of 10p
• Net proceeds of the fundraise will be used to fund scoping study and appraisal drilling at Ingomar project in Montana
https://twitter.com/Share_Talk/status/1777600378323828962
https://www.share-talk.com/helix-exploration-aimhex-admission-to-trading-on-aim-first-day-of-dealings/
Helix does look an attractive for all the reasons pointed out. Q3 drilling as well. DM did it once before with HE1 from 6p to 28p.
Well this was predicted sub 1p. Billions more confetti on the way, but getting the sweet spot of at what price is key.
Simple end of tax year crystalising losses that's all, I added yet again, we all have choices and I took opportunity.
But that's me done I have enough and its down to the BoD to deliver. Some see opportunities when others don't, we all can make our own minds up, GLA.
Could be the next Helium big play this year, certainly won;t have billions of shares and if it acts like HE1 when it first listed we saw great gains on first drill. DM does know how to get the market excited, and he will pump it.
Https://www.cityam.com/exclusive-former-helium-one-chief-chooses-londons-aim-to-float-new-venture/
Helix Exploration expects to hit production in the final quarter of next year.
It estimates a 12-month timeline from first discovery to first gas production through the use of a $12-15m (£9.4m-£11.7m) processing plant.
imo, should never have got rid of him from HE1, a bad move from Stalker. I truly believe the sp would be far higher under DM than current levels. The shoddy raise that was broadcasted weeks before it happened and then at a huge discount killed sentiment for those of us who held for 2 yrs. Anyway glad DM is back!
3,715,710,763 shares in issue gives market cap of approx £46m
imo without actual well test results the current market cap is high.
how many more shares coming in next raise in the summer to add to 3,715,710,763?
will there be a consolidation event?
lots of unknowns, bit like the well testing, too many unknowns to warrant current market cap, and add **** broker who shafted lths, then sub 1p on cards over summer unless news.
For me, not a question of if but when they start mining. The market cap is doesn't square with the assets by many multiples. But I am patient.
Not fussed at moment as I am building a decent stake here.
Confirms purchase, one duck lined up :-)
Many more to follow, I tucked quite a few away after last rns, perhaps a few more will see this news as the start...
Exactly dai, being bitten hard previously will not make same mistake, these broker are snake salesman.
"Liberum the guys who advised He1 to tell the world He1 were looking for funding, and later brokered a 0.25p placing"
The new placing in Summer will be key, as they burn through funds until then.
Not looking at sp but mcap, share in issue 149,069,995
£200m mcap -> £1.34
£300m mcap -> £2.01
And much more can be achieved, just need those ducks to line up, get production running and hold tight :-)
It's what keeps me invested here, the opportunity is rare on AIM.
Sorry but many have short memories, wasnt long ago that we had a placing at 70% discount, many of us took a hair cut and some and had to trade our way out of losses.
It can happen all again, once bitten and all that. Many will wait now until next placing announced, they have 3mths funds left, so do not kid yourself that a placing is not coming this summer and prob around a penny imo.