focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
This guy ticks all the boxes for Kodal - great appointment lots of experience of bringing resources into production and they've given him plenty of incentive with the warrants. No doubt now that we are going into production and quickly, assuming we have the Mali government on our side which it appears we have. Excellent RNS IMO.
Interesting RNS from BGS, see link below. It appears that they are playing for time with this 6 month slippage, they really have had plenty of time to complete their metallurgical investigations and get an offtake partner ? Also seem to be watching the cash flow very carefully, as all good management should do ? The processing schematic if I'm not mistaken on page 7 is identical to the one used in Kodal's presentation, perhaps it's an industry standard ? Perhaps more going on behind the scenes between the 2 companies ? Just my thoughts. DYOR.
http://birimian.com/pdfs/QuarterlyActivitiesReportSeptember2018Quarter31Oct18.pdf
Hi Ezhik - I'm sure this not a new document to you and other long term holders but it does mention specifics re: Upper Cretacous in our fields. Not the easiest read though - pages 26,33,34,52,60-66 all have relevance and may be of interest? All IMHO.
https://www.researchgate.net/publication/289812964_Geosciences_of_Azerbaijan_Volume_II_Economic_Deposits_and_Applied_Geophysics
Firstly, many thanks to you guys for attending the AGM and reporting back to the BB - appreciate you taking the time and expense of attending, sounds like you had a good time ?
I'm of the opinion that the JORC was rushed out and that not all of our reserves have been included hence getting an 'Inferred' rating. Below is the JORC technical description of Indicated and Inferred, ours is certainly Indicated and once JORC Geologist has visited the site I'm positive it will have that rating. From the difference in definitions I can perhaps understand the sp reaction, but not to the ridiculous decline it has displayed as little or no value can be allocated from the Inferred rating. Just my opinion.
"Indicated Resource" that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.
"Inferred Resource" that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability.
From todays RNS:-
'The level of data for the Ngoualana and Sogola-Baoule prospects could support an upgrade to Indicated status following completion of a field visit by the CSA Global resource geologist who is the Competent Person for the resource estimation'.
Guessing we ran out of time to get this classifed as Indicated resource ? I would have thought that this is a 'given' with 30K + of drilling ? IMO.
BA stated in the shareholder webcast that all assays have been recorded but not reported via RNS only those with a 1% cut off Li2O but said that the JORC will include ALL assays including all of those below 1% Li2O. IMO that that will greatly enhance the maiden resource.
AJ. It did rise yesterday was just under 2% blue in the morning but later in the afternoon it rose to over 5% blue which was quite surprising given it had been static from early doors. I could be completely wrong but the only material change that I could see was Malcy's blog and Vox audio comments ?? Coincidence, could well be. I'm very happy for Malcy to comment and if it produces positivity all the better and brings in new investors and then perhaps impacts our SP. Just my opinion.
Thanks Mudstud. Malcy does appear confident with regard the opportunities going forward, worth a listen for sure. Good RNS today lots of detail particularly the geology of the fields - should be much clearer now there is more understanding and will be enhanced greatley when the Zardab appraisal well is drilled. Could do with getting some oil out of the Zardab wells to fund it ! IMO.
Well Malcy certainly rates Fiona MacAulay & IOG's decision to appoint her !
Fiona MacAulay has been appointed to the Board of IOG as Independent Non-Executive Director with immediate effect. As if being CEO of Echo, on the Board of Coro Energy and serving as European President of the AAPG is not enough! I am sure that the Board of IOG will be seriously strengthened by her arrival and is a very good move for them.
I believed that the deal was US$6.6m for the Indo purchase ?
From the Align note today it states :-
The acquisition will cost US$6.6 million and also require the company to assume US$6.9
million of debt, which makes a total of US$13.5 million.
That is news to me, have I missed something ? Apologies if i have. Not sure we could finance US$13.5m ??
Here's Malcy's take on recent events - still has a positive outlook. Zenith has announced that following its RNS last night that it has raised £2.17m though a placing via Primary Bid. With recent news of a bigger rig for the final Zardab work overs the company are funded for what should be an exciting few months. Despite having its problems with tricky down hole issues the company does look remarkably attractively priced given the size of the prize in Azerbaijan .
Agree completely I3LIP with that timescale. They also started the new drilling campaign back-end of October last year (end of rainy season) and I'm sure there will be more drilling going on to expand the resource as we run in parallel with mine and processing plant planning. IMHO.
Dummy trades for 30k shares;- To Sell 20.95p To Buy 24.899p !!
AJ - from RNS 10-04-18 - Zen's decision to modify the rig to a higher standard. The Company can confirm that the construction of the rig's mast and substructure is ongoing at a factory located approximately 2 hours from the Company's field locations, whilst awaiting delivery of the carrier which has already been manufactured. Zenith's engineers have decided to reconfigure some of the technical features of the rig structure to bring it in line with Western standards. As a result, delivery is now expected in June 2018.
Morning Intheno - many thanks for your fascinating in depth analysis of the geology of Zen's fields, most enlightening as are all of your posts. I believe you have displayed in your post the we 'have a sleeping giant' in Azer and that for the patient huge rewards are possible from these fields. IMO
From Malcy's blog yesterday the last line reads:- 'With so much information revealed today I hope to report again tomorrow on COO Mike Palmer�s extremely optimistic report On Zardab and in particular on Z-21'. Guess he can now perhaps release some of the content from his trip to Zen in Azer because of yesterdays RNS ?? Sounding good let's hope he posts today.
Today's Blog below - looks like Malcy is going to report back tomorrow on Mike Palmer optimism for Zardab - sounds very interesting indeed !! 'A Zardab operational update this morning and the company has prepared an extensive study in preparation for the development drilling programme in Azerbaijan. Well data from the Muradkhani and Jafarli oil fields have identified new, previously unexplored Mesozoic carbonate prospect running across the two fields. The preliminary findings of the ongoing geological study have encouraged the company to increase the scale of its operations in the Zardab field. With so much information revealed today I hope to report again tomorrow on COO Mike Palmer�s extremely optimistic report On Zardab and in particular on Z-21'.
https://twitter.com/zenithenergyltd/status/992011449156464641 Look to be making good progress with the 'wash pipe' - keep it up Zen.