Member Info for Dcat80

Clear to me we reported to NI43-101 for Largo purposes. Current resource is large enough for trial mining, as such why drill now if not again to help facilitate a deal with largo. I presume they needed a larger confirmed resource to be able to justify a certain investment in the project. Only real question I have is whether enough to move straight to phase 2 with the chemical plant - or at least expedite

Just as an exploration play it ticks all the right boxes.

VTM = magnetic due to iron content so easily identified by airborne magnetic survey.

Outcrops at surface/near surface. Low wastage of metres to drill to hit mineralisation..

Ore has a high mass - specific gravity for VTM is over 5. Thats twice that of copper ore, so each 1 cubic metre has a 5tonne mass whilst copper would be 2.5t - you’re drilling proves up twice as much per metre drilling!

Grade is high. As per table previously posted the gold equivalent would be 7g per tonne!

From just 5.3mt resource we’re at equivalent value as 1.17m Oz of gold. Target at pitombeiras is 40-60mt, mocidade is on top. Extrapolate that and you can easily see we’re targeting (with confidence) well over 10m Oz gold equivalent, probably nearer 20m oz / especially if further nearby tenements are added.

Plus we’re all very aware that this don’t just be an exploration play, but there is a clear way to monetize (thanks Luis for changing the trial mining rules ;) )

DS- yep, I have to admit to being rather happy when it arrived both in gesture and content!

I’m calling it, today’s RNS counts as our Christmas Card from Brian :)

Good reminder of the points we’ve discussed here before and why we are rightly so excited. Will post a little more post breakfast!

Portable XRF are very much like a speeding gun the police use. Handheld and easily moved over the cut core to get a rough feel for grade. Gives a fairly accurate reading for copper, some other minerals not do much (I got caught out with kavango and cobalt, enough to read up on it!). As Colin already said we will have to wait for lab results for the gold.

250k and 150k showing as buys are delayed sells going from the time stamp. Meaning our genius seller thought it was good to dump 650k within minutes. Remember that’s over 1% of the free float, seller is not very bright...

Andrew- I had just assumed placing shares being flipped. Can you give a little background on Sanderson please? Can see from the more recent RNSs they hold just over 20m which was 4%, but became 3.35% when the bushranger acquisition shares were omitted. Also the CLN option is via them, however I’m not aware of the history beyond that.

The comment on short at 2.2p seems odd, surely it would have been impossible to short 14% of the company at that price with the volume in play unless going back to August 2018.

Any help appreciated

I’ve got 3 guys looking to buy, but they all want cheaper price knew due to way this seller is acting. If it goes down further they’ll hold off buying further. It doesn’t help anyone out really.

Really annoys me how stupid some are. Sure we can remember the seller at 2p. Had the sense to sell into buys, giving confidence to buyers and getting steady exit price for them. Then we’ve the clown selling now, smashing bid down without letting support build. Amateur hour to say the least!!!

Drilling too deep at bushranger for RC drilling, it might be suitable for the shallow Zambia deposits and think that’s what CB referenced RC rigs for in recent interview

Obelix, suspect his hands are to a large degree tied on most company details although might get some hopes and aspirations etc. If be very interested to hear more about the work he’s doing in getting more support to the Brazil mining industry as a whole. What kind of financial supports he thinks might become available to support new mines etc, any articles or areas he suggest we might want to research- if he can’t tell us specifics it’s always nice to have some guidance on areas to look into so we’re versed before any later announcements.

I have it in my mind that Luis was involved with them and their project was sold to Oz minerals with Luis staying in as an NED. Copper project. Swiss might want to confirm

Obelix when I find the time I’ll write up a few notes on the features I listed yesterday relevant to Jangada. I do think there is a possibility of that very special $1b+ NPV, just look at the inground metal value and gold equivalent grade! IRR over 100%. Large numbers are reliant to an extend on the stage 2 chemical plant, although even at stage 1 numbers should look very good - especially to our joke or a MC!!!

Fulmar- as the one with the least gains from Marl (why did I bring it up, only teases me ;)) I think I’m the last to be in a position for any financial guarantee!! Jangada as you know though is a very material position for my wealth and I wouldn’t be so overweight if not for my conviction of very high rewards!!!

Woodster, $2.2b based on below which assumes we are using the chemical plant to process the tio2 into pigment grade product. Both iron and tio2 prices are up circa 20% from those figures. Plus the current drilling programme is targeting circa 15m/t up from the current 5.3m/t.

Inground value maiden resource
Current drilling targeting trebling of below..
Commodity Resource Price per tonne Value
Tio2 pigment 575,457 $2,500 $1,438m
Vanadium 28,990 $15,000 $435m
Iron ore 2,876,331 $120 $345m
Total $2,218m
$2,218,000,000
Gold equivalent at $1881 =1,179,160 Oz (7.1g/t grade)
Copper equivalent at $6940 = 319696 t (6.03% grade)

Shorn - Thanks, try and make my posts rational and to try bring wider research where possible. Frustrating at times how few want to understand things, but just seek confirmation bias if they’re views.

Andrew - it’s fair criticism of me that I sometimes need to mage things a little clearer, typos from using my phone and haste also doesn’t help!!

Broadly speaking I’d use a band if between 1%-5% of inground value, features that affect economics all having bearing on where likely to fall within this band.

You might find this article of little interest. Wouldn’t read too much into it, however again it’s good for getting some kind of gut feel about these things
http://www.cipherresearch.com/reports/150601_The-Real-Value-of-Gold-in-the-Ground.pdf

Obelix, we’ve had assays on 3 of the 7 holes drilled so another set of 3 could be released soon. As commented before I’m extremely confident with the magnetic readings from the iron content that we’ll be hitting target and grades will be within previous range guidance, hopefully as good as to date which exceeded that guidance.

Updated logistics study, metallurgical tests confirming how successful the dry as opposed to wet route is going should also be finalized by GE21 consultants and released.

Trial mining application could in theory be submitted at any time, we know Luis changed the rules in his role as VP Brazil mining regulatory body to fit our needs perfectly.

Exploration work at Mocidade tenement is also supposed to be being worked on, news could land on that - certainly hope company doesn’t sit on the news like they appear to have gone for the initial work started near end Q2!

PEA obviously needs the current drill programme complete first, new NI43-101 report and the features of the PEA we expect to see individually before. Still Q1.

Hope is we are of course right in view reporting to NI43-101 standard as opposed to jorc and changing account date to fall in line with Largo is for a partnership deal. Again expect this (if right) after the PEA released.

Other potential news is more tenements. Swizz has kept eyes on this more than I, but posted something along the lines of nearby ones are up for grabs. We could also hear about other potential elements such as PGMs, Nickel and cobalt - all we know to be present in the area and within the mafic/ultramafic rock type also on site

50 bagger isn’t from taking to production, it’s from selling the contained copper for between $150-$300 per tonne in ground value. Obviously copper needs to be there for that, however porphyry systems are large and with the other targets on sight it’s a good chance there is the tonnage there to build a large scale, low grade mine, but low cost mine.

I totally agree Colin won’t want to take to production. Years of technical studies, difficulties on junior trying to fund equity portion of any mine build financing. Large scale projects need big pockets to develop, Colins job is to explore, prove up to level it can be dressed up and hit the criteria a bigger player (either major such as AA, or mid tier) bite.

Only last night I posted on the Jangada board features PIs should be trying to understand to affect economics pre any economic study, not company relative but more general across any project. Not sure of the various experience levels of those viewing the XTR thread, but worth a look for those wanting some general education. The article on operating low Grade gold mine is an excellent read and the points relative to other commodities as well

D220- yes. One I was only made aware of earlier this week, but in that rather rate bracket of their project NPV being over $1b with a IRR in excess of 100% post tax