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Couldn't it just be a bit of a mean reversion type effect, downward momentum faded away and value investors took action. Plus presentation suggesting impending upstart in activity.

Just >10kt downdown to go for lme stocks to reach 140kt. Below which historic data suggests (my post 10/09/18).

For the range of the data the stockpile was <=140kt on 50% of the days, of these days the price closed at > or = to USD8.5/lb 62% of the time.

For the range of the data the stockpile was <=60kt on 17% of the days, of these days the price closed at > or = to USD8.5/lb 87% of the time.

https://www.westmetall.com/en/markdaten.php?action=show_table&field=LME_Ni_cash

Maybe people starting to believe that commodities are relatively cheap at present and of those, battery metals have one of the most bullish outlooks and of those nickel has, by growing consensus, the best outlook.

https://youtu.be/K-qeVFq8GiQ

The tsingshan issue of 700m capex for hpal laterite class 1 nickel production misled the market (and worried me) but recently been made clear that 700m was in addition to multibillion existing op (upgrade/conversion cost 700m) that's more than Zebs stated total capex (including forex & inflation fluctuation), also....

https://www.reuters.com/article/indonesia-nickel-project-idUSL8N24339B

On top of that as I've posted before Indonesia has previously had Ni export bans and changed tack, but significantly, when they did so it was for 5 years only, now issue apparently raising concern about supply constraints from early 2020s export ban reintroduction.

https://uk.reuters.com/article/global-metals/metals-nickel-hits-three-month-peak-on-indonesia-concerns-idUKL4N24D2C2

Uru is almost never mentioned in broad market analysis (amc presentation did include it as a globally significant sulphide deposit in a slide of a presentation I recently looked at). This does sometimes give me concern, but maybe it is just under the radar, being in a 'bad'country on a 'bad' continent, with 'just' an unavailable and outdated pea. With management/linked individuals that some may say and do say have question marks.

For me the similarities exist and stack up well with/against turnagain and dumont yet Zeb is very often over looked.

Good weekend to all.

Aimo ATB

Well I added a few more just in case theres a reaction on asx Sunday night/ Monday morning

Interesting video from crux investor...

https://www.youtube.com/watch?v=Hc8UUFDPVMs.

Guy from VMY made good points imo from 2.30 mins, one of the reasons I think aura often overlooked is size of resource and projected production rate combined with jurisdiction.

PR has, imo, rightly focussed on progression towards production rather than resource growth, watched this from govex today shows ev av per total resource lb 2.17 for producers.

49m x 2.17 = 106330000 usd or >84m gbp

Plenty of time to drill out some more from Nov 2020 hopefully less than a year from production then and MCap higher and raising money for drilling easier too or wait for cash flow to pay for it. The type and capex of production, as I understand it means, cheap and easy to scale up

From https://www.lse.co.uk/rns/AURA/aura-energy-limited-half-year-report-6yej74fzobuj53u.html NOTE 16......

15/10/2010, aura & Global Coal Management plc entered into a Share Sale and Purchase Agreement.

Aura acquired all the shares on issue in GCM Africa Uranium for tiris (research permits in Mauritania).
In addition to cash and share payments nearer the time. Aura agreed to pay a contingent consideration:

(i) US$2,000,000 (in cash and shares as determine by the Company) on the delineation of 75 million pounds or more Initial Resource

(ii) US$400,000 in cash and 400,000 fully paid ordinary shares in the Company for each Subsequent Resource of 6,500,000 pounds up to a maximum of US$4,000,000 in cash and 4,000,000 in fully paid ordinary shares.

The contingent consideration is only payable if the Initial Resource and Subsequent Resource are achieved within 10 years of the date of the Share Sale and Purchase Agreement. Accordingly, the obligation to pay the contingent consideration expires on 15 October 2020. There are no other contingent liabilities as at 31 December 2018.

Intersting views re section 232

https://www.cruxinvestor.com/article/?video_id=100

Would it be nice to see PR doing these and demonstrating such connections and knowledge? - yes, but doesnt bother me one bit, he's hopefully busy doing things for aura as tiris should be getting sorted way before etango, and hes admitted as much - that he keeps up to speed but doesn't part take in the deep dives as they seem to be referred to.

btw ALG picked up a bit this week I noticed.

AIMO ATB

Just out of interest I looked back pre 2017 sp rise…..

06/10/16 – day before last previous golden cross sp from 0.3 to 0.42 for 40% rise

07/10/16 – day of last previous golden cross sp from 0.42 to 0.6 for 40% rise (compounded 100%) on the largest volume for months and months.

After that had to wait until 22/11/16 and the bounce off the 200dma for a buy of 0.43 (this was day of placing at 0.4 announcement to raise 640k)

After that just a handful of days to get some below 0.5 then on Thursday 19/01/17 on steadily increasing volume over previous 2 weeks the famous rise began in earnest.

The next trades below the 20dma were on 06/03/17 at over 3.4 (compounded over 10 bags)

In the meantime raised 700k ish in Jan 17 at 0.45 (cant find rns - missed on ii and no longer available on the, so far seemly worse, newer version of lse) & 535k at 4.5 rns’d 13/02/17 (compounded dilution reduction c.f. 0.3 of 1400%)

Looks to me as tho golden cross could occur between 15/07/19 and 17/07/19 if sp remains stable. So this Thursday/Friday could be the trading day before the day before/the trading day before.

Just observations, all figures/dates are only rough, still only got a very basic understanding of charts and no suggestions that repetition will occur

Would be very happy if it did tho.

Maybe all JZ has to do is nothing - proven ability

Ive heard technical indicators can affect a sp in absence of news

Hoping any news that does come is good, even if it’s a placing around here for 1m I wouldnt mind one bit, if sentiment u turn occurred, and sp multibagged afterwards

Why would anyone finance a placing? – To get in cheap, evidenced by the recent substantial rise on very low buying volume (in relation to 1m anyway)

Works both ways it seems - dropped from 1p ish on low volume and recently risen from lows on it too.

Overall, just saying that last time, the golden cross price ended up being the floor area of fund raisings and chance of subsequent entry.

Will have to wait and see.

WWTBOOTOTW J!

AIMO ATB

Thanks again.

Not sure on magnetite, from memory not heard anything for a long time on that one. Just looked back at rns dated 28/04/17, saying further testing and results shortly. Then Ni leach results but no more re magnetite.

Magnetite was (as referred to in this context (as also present in suplide ore I think)) in the oxide above the disseminated sulphide and 2019 presentation includes plan including oxide pit shell with separate key entry for Ni Cu pge resource area. Not v clear on my screen when trying to differentiate the two on plan/map.

Maybe they leaving that for now if depth of this deposit turns out to be sufficiently shallow, & would also keep the overall capex down if didn't go after magnetite. Maybe the magnetite is an ace in the hole type piece of newsflow and will be received/progressed closer to the project realisation than the current v early stage, if/when needed. Not sure/need updates generally on magnetite. Have read recently of deficits in the iron ore industry tho which bodes well price wise. Also have suspicions about possible vanadium content with possible credit value however only v speculative at present, no data at all that I can see - will look into penge fm at some point tho.

As I understand (been a while since I looked at this stuff) it was uml that held the prospecting rights. Uru own uml so control rights, umh in charge of mining right application including completion of prerequisite EIA. Risk for me was when license was due to expire & no news, then we had uodate of renewal. Whether prospecting rights get consolidated and or converted (in time) to mining rights whether in the name of uml or directly uru, shouldnt matter with current co structure. So long as the expenditure etc commitments are not defined and subsequently not met, licenses should continue to be controlled by uru
& not be returned to umh for uru shares.

Could be rusty so corrections/additions welcome as always.

I always try to think positively king, sometimes hard but always try. I just look back at the sp chart in connection with the Ni price at the time, then remember we only got 100% ownership 2014 and no prolonged Ni or even broad resource bull market has been experienced since. Yes other assets have been written off and dillution occurred but when considering the peaks and troughs of mcap & concurrent ownership of Zeb together with Ni market short to medium term prospects, the fact that those large holders who demonstrably wanted out & acted accordingly are now gone, SA slow but progressive jurisdictional improvement evidenced by Fraser institute rankings, large insiders holdings, higher grade (very significantly so in terms of equivalent grade), short term active exploration potential, & (to my knowledge) previously indisclosed assays of 2% Ni and 0.4% Cu, potential improved project economics through technological advances and beneficial forex movement, it all melts together to be potentially very positive indeed.

Aimo

...in a month or so.

The words of jk1990.

Proved right again - Just an observation.

Pf looking slightly better thanks to uru, like others say hopefully long way to go yet, but no guarantees. Ample precident for achieving gains by averaging down on lows tho. Easy to say hard to do.

King - umbono agreement runs out in 2019 - any chance of pointing me in the right direction of where you found/or expanding upon this info please.

No worries if you can't remember I'll have a dig when I have more time.

Would be such a nice change to look at pf and see uru in blue, not all that far off. Not getting my hopes up just yet.

Feel strongly our short term fate/buying sentiment rests on trade war news.

And

Where's this million quid coming from and at what cost/dilution, this obviously the elephant in the room, tsx listing has been mentioned historically by current boss of uex...dual listing?just a thought.

https://www.google.com/url?sa=t&source=web&rct=j&url=%23&ved=0ahUKEwiPwNHqsfPiAhWTiFwKHaHoCFwQxa8BCC4wAw&usg=AOvVaw0VTJzWxrN8ZFOD4xbU2nov

What's priced in at ~3m mcap excluding cash? Been very quiet with not a lot of news. RL suggests mispricing of assets, sp afterwards continued to fall all the way to ~800k mcap then up to 20+m early 17 then all the way back to ~800k, then so far back towards 2m...

...where next?

Tsx listing? Like hzm did 2011

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=HZM&ArticleCode=vpdpaz0i&ArticleHeadline=Listing_on_Toronto_Stock_Exchange__Canada

Mention of uranium? JZ and the company has history in the space and an early investment was source of previous dividend. Long U bear market could be close to the end. Worked with lithium haha.

Shooting in the dark, nothing more.

He goes where the money is, if trade war ends and global growth looks on, its likely soon to be back to Ni market.

https://youtu.be/9FO8VR-R9Rw

All good but around 10mins in!

https://youtu.be/kmvVyRE6qVw

A good bit around 19mins in!

Amtech interested yet - TA wise?

Just noticed red area in project area designated as highways authority equiv and ivanplats on recent presentation - wasn't aware of that previously - takes out vast majority of uit1 hill area.

Sooooo few shares in play, surely one of the lowest on aim? Like a low share issue over in N America apparently.

Next rns? ccc out....how and to whom.

Who bought minex and GH stakes or were they dispersed to hundreds of apparently apathetic (not motivated to affect newsflow/project update) PIs. Someone/thing owns them now that's for sure.

Random thoughts, ramblings got a shower to tile better crack on.

AIMO ATB

2/2

‘the acid produced in Reaction (3) may be sufficient to fulfill the acid demand for the leaching, augmenting the acid in the recycle solution from the base metal recovery section’

‘• Total energy consumption – 50% reduction. • Electrical energy consumption – 84% reduction. • Energy consumption costs – 76% reduction. • CO2 emissions – 70% reduction. • Installed power requirement – 92% reduction.’

‘the potential application of this technology to polymetallic orebodies may open up the economic viability of these complex and low grade deposits’

‘Liddell and adams collaborated in the paper below which was an interesting read, I think it looks to be for the stage when IVN were considering open pit on the turspruit rietfontein boundary (along strike and adjacent to Zeb).’
‘Hydrometallurgical processing of Platreef flotation concentrate’

https://www.sciencedirect.com/science/article/abs/pii/S0892687510002359

Interesting extracts

‘Ivanhoe Nickel and Platinum Ltd. have been evaluating their Platreef project in the Mokopane area of the northern limb of the Bushveld Complex in South Africa. This ore has lower precious metal tenors and higher base metal contents than conventionally mined PGM ore, having characteristics closer to a polymetallic ore type. It contains approximately 0.36 g/t Pt, 0.54 g/t Pd and 0.09 g/t Au, as well as 0.21% Ni and 0.13% Cu’

‘The un-milled concentrate was also submitted for carbon species assay to determine whether significant acid consuming carbonate was present; the results being….The low carbonate content eliminates the need for a pre-acidification step;’

With the adjacent Transvaal dolomite Zeb would likely need a step such as this, imo.

‘Grinding finer than 53’ microns ‘would not be necessary if POX conditions are used. ‘

‘Addition of relatively low dosages of sulfuric acid to the pressure oxidation stage under all conditions improved Ni, Co and Cu extraction efficiencies….. it is likely that much of this acid can be generated autogenously from sulfide in the concentrate with concentrate being repulped with acidic recycle from the base metal recovery section.’

Overall seems, in kell, there maybe a potential process for the extraction of value metals at Zeb reducing capex and opex relative to other processing types fot the Ni PGE project.

Finally excellent background to wider Bushveld - some heavier bits but found it all interesting and certain sections very apt.

https://www.youtube.com/watch?v=s5iWbR7I5LA

Still don’t know much about charts but things starting to look better at least, imo. Daily chart has 20 day ma above 50 day ma, price seems to be bouncing between 20 day ma and upper 20 bollinger band, 200 day ma not far north of current price with mcap of just ~2m required with current ~870k issue needed to breach it and 50 day ma heading North too.

AlMO ATB

KELL 1/2

From ant’s link to lesogo and looking at their project at which looks to have higher grade but very significantly is at depths exceeding 300m, I noticed mention of the kell process, so thought I would post some background I found

https://www.lesego.com/pdf/Lesego-Investor-Presentation-November2017.pdf

First an interview with the patent holder (keeping in mind its basically a sales pitch so no independent overview - likely biased, nevertheless compelling imv)

https://www.engineeringnews.co.za/article/new-process-opens-way-for-full-spectrum-platinum-beneficiation-2012-04-05

more recent article

https://www.engineeringnews.co.za/article/new-cost-slashing-platinum-technology-gaining-impressive-momentum-2017-05-18

Two articles I recently read

KELL HYDROMETALLURGICAL PROCESS FOR EXTRACTION OF PLATINUM GROUP AND BASE METALS FROM FLOTATION CONCENTRATES – AN UPDATE

https://www.researchgate.net/publication/307138397_KELL_HYDROMETALLURGICAL_PROCESS_FOR_EXTRACTION_OF_PLATINUM_GROUP_AND_BASE_METALS_FROM_FLOTATION_CONCENTRATES_-_AN_UPDATE_Presenter_and_Corresponding_Author

Interesting extracts

‘The process has been successfully tested on several different sulfide flotation concentrates, including those from …the Platreef mafic/ultramafic layer…. It has been shown to provide high (>95 per cent) and selective extraction efficiencies for the key valuable metals, i.e. Pt, Pd, Rh, Au, Ni, Co, Cu.’

‘consists of several commercially proven unit operations’

‘presents a potentially substantial improvement in PGM and base metal concentrate processing technology, in terms of economics via much reduced power costs, ease of processing, and various environmental benefits.’

‘successfully tested on several different sulfide concentrates, including those from… Platreef as well as polymetallic ore types. PGM concentrate grades successfully tested for Kell Process amenability have covered two orders of magnitude with high recoveries of metals being achieved at the different grades’

‘using a sample of concentrate prepared from low-grade Platreef ore arising from the northern limb of the Bushveld Complex. The concentrate had a sulfide content of ~9 per cent, Cr content of ~0.1 per cent, Ni+Cu+Co ~3 per cent, Fe ~18 per cent and total PGM content of ~5 g/t, which represented a more than tenfold PGM upgrade from the ore. The base metals (Ni, Co and Cu) and PGM were produced as separate solution streams according to the process design. The Kell Process was demonstrated to result in recoveries of over 95 per cent for the PGM and base metals’

‘A complete simulation model has been compiled by Simulus Pty Ltd(13) that can model the mass, chemical and energy balances using data derived from amenability testing. The Simulus model is used to develop operating and capital costs, energy and reagent consumptions and equipment specification for each application under consideration.’

AIMO

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