Member Info for DeathStranding

6.5 years since the resource announcement at Clontibret and plenty of drilling done since. Shareholders should demand an updated estimate to understand the asset they are invested in. Crazy for a company not to update its resources after signifciant drilling so investors can judge impact on value.

Wow, €5.5 million spent and very little to show for it. Grades of 0.5, 0.6, 0.7 g/t in sulphide (probably refractory) won't cut it. Would be helpful if the company clarified what makes these results "excellent". Reference to "high tonnage" in the last announcement will certainly not appeal to sophisticated investors since a high tonnage proposition is not investible at this location.

Investors will be hoping for evidence of high grades in drilling in 2024 because 2022 & 2023 have been extremely disappointing.

By everywhere you mean they have drilled 7,000 metres and reported gold in all of those holes?

See McKinsey, Exhibit 4. https://www.mckinsey.com/industries/metals-and-mining/our-insights/refractory-gold-ores-challenges-and-opportunities-for-a-key-source-of-growth

Global average refractory gold cost $47 per tonne. That was in early 2021 so high inflation since, and UK would be significantly higher than global average for energy and labour costs. But even keeping it at $47 and assuming an extremely generous 90% recovery that is equivalent to 0.8 g/t. That's to break even, never mind pay back the very high capex for a high tonnage POX operation.

So it doesn't matter how wide your intersections are, at the reported grades it will never work.

That's before you try to permit a large open pit in County Armagh. Good luck with all of that.

So name calling is your response to being challenged on the quality of the results. Not surprising. The market response says it all.

Fail to see how anyone could be happy at all with 7,000 metres of drilling with hardly any economic intersections to show for it.

Why would they be "very happy" with these grades fairview?

It's been a broken system for some time now but having a nomad sign off on the company's statement that these results are "excellent", and not provide investors with any meaningful context for the results is symptomatic. Anyone on here who thinks sub $20 grades are any good is deluded.

Absurd that they report grades using a 0.3 g/t cut off. That's a completely arbitrary and uneconomic level. Equates to only $20 per tonne at current gold prices, even before taking refractory gold recovery factors into account. Non starter.

Such low grades are meaningless unless they can demonstrate that grades as low as 0.3 g/t are feasible. Presumably refractory like the rest of the district. The only reference we have is the Clontibret resource cut off of 1 g/t, which is already very low for refractory gold.

Rubbish.

Meaningful results is what they are waiting for. 7,000 metres drilled and hardly any meaningful intersections reported (decent widths over Clontibret cut off grade of 1 g/t). Two years into the JV it's unconvincing.

All we know is that Brian Timmons resigned from the Peak Nickel board in September so we are no longer represented there.

I incorrectly stated the financial position of the company in an earlier post. Cash at 31 May was €565k. Post year end they raised €465k so €1,025k. They spent €605k last year on opex so they don't need a working capital placing soon. Should see them through to the next financial year.

The presentation of the results is wonderful. The results are old. What investors need is meaningful, new results to prove the potential as touted.

Not missing anything. They report €605k in non-JV costs for a year, they had €560k in the bank at the end of May. If they are spending at the same rate, what do you think is going to happen?

Costs of €605k, even with JV covering exploration costs. Only €560k cash in bank at end May so there will need to be a placing in Q1. €3.8 million owing. Classic lifestyle company.

6,000 metres drilled, zero resource ounces added. Not seeing the merits in any of these projects. There's been a good bit of post resource drilling now at Clontibret, but no resource update in 5 (or is it 6) years.....?

The drilled metres are not converting to resource ounces.

Must have been impressive

Expect him to retire at the AGM