Member Info for CTSFO

Paul, that’s an important point. I was wondering if ACAM limited their investment to £500,000 because of the warrants they already hold? Not sure how warrants are legally / financially considered when held by an investment company. There might be internal limits within ACAM with regard to total exposure to a company.

Or a very simple : double the rigs = double the cost?

Magic, thank you, that’s a good answer. I know very little about the costs of drilling and assay. I’m now wondering if there was always going to be a further need for funds at this point in time. But the company had banked on good results raising the sp. It is what it is. I agree more money from ACAM and the Directors is reassuring.

Ouch. A reminder of the original schedule:

“Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, is pleased to confirm that diamond drilling to upgrade the resource at the company's 100%-owned Molaoi zinc deposit in Greece will commence on Monday 15th September.

· The drilling rig has arrived on site and will be positioned on the pad over the weekend in preparation for drilling on Monday 15th September

· Upgrade from JORC Inferred to Indicated category expected on completion

· Maiden germanium Inferred resource expected on completion

· 30 drill holes planned

· Hole depths vary from 200m to 450m

· Total metres expected to be drilled is approximately 10,000m

· Results for each hole will be released as they are received from the laboratory

· Drilling is expected to be continuous until at least February 2026”

Mineral exploration is complex and expensive. We know that. But I’ve got to ask, how did they get the timeframe so wrong? Can we extrapolate the present rate of progress and cost to all of the 30 holes?

The lack of sp movement shows how important the JORC classification is. Its purpose is to protect investors. Once we get an improvement in JORC status, the sp will rocket.

ALUMINUM

ANTIMONY

ARSENIC

BARITE

BERYLLIUM

BISMUTH

BORON

CERIUM*

CESIUM

CHROMIUM

COBALT

COPPER

DYSPROSIUM*

ERBIUM*

EUROPIUM*

FLOURSPAR

GADOLINIUM*

GALLIUM

GERMANIUM

GRAPHITE

HAFNIUM

HOLMIUM*

INDIUM

IRIDIUM

LANTHANUM*

LEAD

LITHIUM

LUTETIUM*

MAGNESIUM

MANGANESE

METALLURGICAL COAL

NEODYMIUM*

NICKEL

NIOBIUM

PALLADIUM

PHOSPHATE

PLATINUM

POTASH

PRASEODYMIUM*

RHENIUM

RHODIUM

RUBIDIUM

RUTHENIUM

SAMARIUM*

SCANDIUM

SILICON

SILVER

TANTALUM

TELLURIUM

TERBIUM*

THULIUM*

TIN

TITANIUM

TUNGSTEN

URANIUM

VANADIUM

YTTERBIUM*

YTTRIUM*

ZINC

ZIRCONIUM

“ Beijing postponed even more wide-ranging controls for a year last month after a temporary truce in the tariff war between the two economic superpowers.

The European Commission in October said it would hastily pull together a plan to diversify stocks of critical minerals including rare earths, which also include more common metals such as lithium and copper, in an effort to cut its reliance on China.

China controls much of the critical minerals market and accounts for 88 per cent of refining capacity for rare earths. It also produces more than 75 per cent of refined germanium and gallium, and about 70 per cent of refined lithium, according to EU figures.

Séjourné said that Brussels aimed to create a critical minerals “centre” with dedicated funding “to buy, co-ordinate European purchases, set aside stocks and also to push companies to integrate more economic security into their supply chains”.

He said Europe was “late” putting together such tools compared with the US, which has invested in domestic miners and signed supply deals with governments.

“The Americans have a business department that buys stocks of critical materials before us everywhere in the world. They often buy them from under our noses,” Séjourné said.

Séjourné’s plan, which must first be agreed by the EU’s 27 commissioners and could be subject to change, should also include a rapid signing of partnership deals with countries such as Brazil and South Africa to secure supplies. Séjourné is travelling to both countries in the coming weeks.

The French commissioner also said that the EU should consider introducing price floors to ensure that European companies had access to domestic stock.

He said miners and processors were reluctant to invest in EU production because they feared customers would still prefer to buy cheaper supplies from China, despite the risk of it cutting supply.

Companies are vulnerable as they often keep just a couple of weeks worth of stock.

The commission is likely to make recommendations to prioritise stockpiling and to diversify supply, he said. Legislation could come later if behaviour did not change.”

From a pink paper:

“ The EU plans to create a central body to co-ordinate the purchasing and stockpiling of critical minerals to stop the US buying up global supplies from “under our noses”, the bloc’s industry chief has said.

Stéphane Séjourné, the EU’s executive vice-president for industrial strategy, told the Financial Times that the EU had become “collateral damage” in a spat between the US and China over access to rare earth minerals, which are crucial for defence and clean technologies.

China imposed export controls on 17 metallic elements known as rare earths in April, after the US banned the sale of some advanced technology to the country. Several EU companies were forced to shut down production lines and make lay-offs as a result of the move.”

Magic’s review of the academic paper:

magic_slon

Posts: 50

Price: 0.1275

No Opinion

RE: In depth, academic, review of Molaoi4 Dec 2025 10:44

Great spot. That paper is a huge validation for ROCK and I doubt most people here understand how important it is.

Independent academics are showing that the Molaoi district hosts a genuine multi stage VMS epithermal system with zinc, lead, silver and elevated germanium. The mineralisation sits in a structural corridor and repeats along faults, which is exactly what you want to see if the aim is scale rather than a single small ore lens.

ROCK already has a strong JORC resource with high zinc grades and meaningful silver. What stands out from this research is the confirmation that the earliest sphalerite carries impressive Ag and Ge values, and that the geological setting supports continuation along strike and potentially at depth.

So while the market is half asleep, the company is drilling directly into a system that science now supports in detail. The upgrade to Indicated and the separate germanium resource are not speculation. They are the logical next steps backed by published data.

If the current program links more of this structure together, the valuation gap between the project and the metal in the ground becomes very hard to justify. It feels like one of those moments where the evidence is in plain sight, but only a few are paying attention.

An in-depth academic analysis of Molaoi:

https://www.mdpi.com/2075-163X/14/9/885

I’ve been wondering, but not worrying, about a potential placing. We can all see the drilling is proving more problematic than originally anticipated. This will increase time on site and operational costs. But not by a huge amount. Worth looking at this from Rio Tinto’s website:

“1883

Supplying 10% of world copper 

Initially, our shareholders had high hopes of quick returns, but it took 10 years of regular, additional funding before investors started to see promising returns. And by the turn of the century, after vigorous expansion, our Spanish mines were producing 10% of the world's copper. “

It’s not going to take us 10 years, but you can’t rush the science here. Thankfully we already know a lot about the area we’re drilling in. See next post.

Magic_slon… F me, quality post Sir! Good to know about the shortage of ISO references. Got to ask, are you a geologist / miner / something related?

This time next year Rodney!!

Hi Coot. My best guess is the JORC compliant analysis will be a separate cost to the drilling. BUT… this RNS might be of interest…

2 Sep 2025 07:00

RNS Number : 5398X

Rockfire Resources PLC

02 September 2025

2 September 2025

Rockfire Resources plc

("Rockfire" or the "Company")

Molaoi Research led by the University of Patras, Greece

Rockfire Resources plc (LON: ROCK), the base metal, critical mineral and precious metal exploration company, is pleased to inform shareholders of promising, high-quality research being conducted by scientists at the University of Patras at Rockfire's 100%-owned Molaoi zinc deposit in Greece.

The University of Patras has a multidisciplinary and integrative research team conducting an advanced scientific study of the germanium (Ge) potential of the Molaoi Zn-Pb (± Ag, Ge) ore deposit.

Some of the key findings to date from this ongoing research are:

· Sphalerite is the primary germanium host, with peak values of approximately 1,900 ppm Ge, particularly under high-temperature and high iron contents.

· Early-stage pyrite also acts as a key germanium host, showing peak concentrations approaching 400 ppm Ge.

· The deposit evolved from a low-sulfidation to an intermediate-sulfidation epithermal system, hosting critical commodities, with germanium and silver being the most significant economic by-products.

· Boiling hydrothermal fluids played a pivotal role in germanium precipitation during the low sulfidation stage. This is further supported by silver enrichment in the intermediate sulfidation stage.

· Leaching of the volcanic host rocks during early fluid evolution contributed substantially to germanium remobilization.

One of the more important findings of this research is that Molaoi could be classified as a medium-class silver deposit (according to the Singer (1995) classification scheme), yet silver is merely a by-product enrichment, along with germanium, that significantly upgrades the economic value of the deposit.

This important research being conducted by Dr. Tombros Stylianos is supported by a vast network of leading international institutions. The collaborative bodies working on the Molaoi ore samples includes:

· The Laboratory of High Temperature Hydrothermal Ore Processes at McGill University, CANADA.

· The State Key Laboratory of Geological Processes and Mineral Resources at China University of Geosciences, Beijing, CHINA.

· The Chinese Academy of Geological Sciences, Beijing, CHINA,

· The Modern Analysis Center at Nanjing University, CHINA.

· The Maria Curie-Skłodowska University (MCSU), Lublin, POLAND.

· The Centre for Instrument Sharing at the University of Pisa, ITALY.

These collaborating universities enable access to specialized expertise and complementary instrumentation.

Importantly, this international network ensures scientific excellence, supports data validation, and facilitates the cross-comparison of an

Though, being brutally honest, I want the sp lower. Much lower. I’m waiting for my pension lump sum…

And make your mind up:

“ ballard460

Posted in: ROCK

Posts: 1,163

BuyToday 08:19

Just purchased another 1.8million.. this hit .28 just on news of contract and funding pre drill, although 2 struggled holes so far, signs of amazing mineral shows, chances out of 28 holes are high for me and this is a big investment . gla. Q1 2026 come at me..”

Zag… well said Sir. I’ve voted “yes”. The RNS paints a damning picture of PPP under EVAN’s watch. I hope and pray he’s going to be interviewed under caution.

3FC: this is part of my post on 9th October 2025:

“We all know we’ve raised £2,000,000 plus loose change. The drilling is costing €1,700,000 (EUROS), I thought it was GB Pounds originally. It’s costing approximately (just under) £1,500,000 GB Pounds. This gives us a reassuring amount of money in the bank, after assay costs are deducted.”

We’ve got approximately £500,000 spare, give or take. It all depends on what contract they signed with their drilling subcontractors. Fixed price for 30 holes vs time on site. Rockfire are using a bespoke drilling company. We can trust them with the job. We wait and see.

Magic: great post. I agree. I’ll start with a negative. The company is adequately funded for the original 30 hole drill. Beyond that more capital will be required. Investors deal with the SP on the day, so I hope we get news to boost the SP sooner rather than later. (Stating the bleeding obvious!). The good news: people don’t understand the importance of the recent RNSs. Geology is a science, all data is relevant. If these drills demarcate the start of useful ore, that’s essential information.

Unfortunately, too many traders get to influence the SP on a day by day basis. Once ‘the market’ gets the data it’s waiting for, the Trader’s shares will find their way into hands that will hold them tight.

Https://www.mdpi.com/2075-163X/14/9/885