RE: ValOre update28 Oct 2020 12:28
First of few items expected from Valore. Rhodium assays and metallurgical results still to follow there and lots of potential newsflow from our own project. I seem to be jinxed in news on my companies seems to land on a day market is jittery!
Assays from Valore look find. Good new discovery at C4 with some resource expansion at Cana bravo and cedra. Grade little lower than PB average, however we know from Jangada previous work that 100% IRR was possible at much lower metal prices so still looks economical and just adds to any mine life.
Esbarro and goat has mineralization so Valore methods are working, but PGMs either not in sufficient quantity there or haven’t found the sweet spot yet so imagine they’ll be lower priority going forward. Remember though they’re targeting a district here over a total of 60km strike length, not going to always find the sweet spot straight off and drilling will help them with future modelling. Solid initial drilling, but grade won’t be high enough to grab market attention in my view - doesn’t take away from Valore being materially undervalued before any drilling and this drilling has added value