Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Historic day today with more to come. I noted Stephen Beetham comment mid-morning. With 4% of the shareholding, many purchased under 0.77p, he should be a happy chappie this evening.
Personally, I am eager to see that RNS announcing that drilling has started at EG Meadows prospect. A 23 hole campaign should start before the month end. Results by October. If GH is in London next week he has an interest in raising the profile of GGP.
Long term holders are about to be rewarded.
Agree with your viewpoint Tiburn. I also was in the front row at the AGM and share your character assessment of GH. I also think CB will prove to be a competent Exploration Director but he was not the right man to be captain of the ship. See you at this years AGM. Hopefully, good results from EG Meadows will be announced before the AGM !
No confirmation that EG drilling has started but it is scheduled to happen in the next 3 weeks. This sp should not go anywhere short term until there is an RNS confirming commercial metal grades at one of the projects they are currently doing exploration. Mid term is a wild guess. No every project is going to turn up trumps! Personally, I am waiting for the EG drilling results to be announced in October. GH has still got to prove to the market that he had good reason to claim A world class discovery of the decade. Until results are indisputable, it is all hype and he has disappointed early this year. Newmont or any other miner will not JV until the mineral grades are proved up.
Agreed. Informative posts this weekend. It has been a while since I contributed anything but you can check that I am a LTH who is patiently waiting. Timings? I am excited overall by EG potential and further exploration results to be announced in the next few months. A reminder: A 24 hole RC drilling programme is scheduled to start in the next 3 weeks. The main target area at Meadows has been identified by the DSG survey done by Newmont. It is large - 5 km x 1.5 km. This same anomaly was broadly confirmed by MMI sampling results announced earlier this year. As if this drilling investigation is not enough, there is another nearby large target area at Meadows identified by MMI but not DSG. None of the other 6 project areas have had this level of exploration technology applied to them and I would be extremely disappointed if the 24 hole analysis did not result in some outstanding gold figures in grams per ton. How long do we have to wait? The last drilling programme at EG Meadows, 23 holes, started in Oct 2016 and first results were announced 3 months later. So! We should have the all-important information by this October. Another fact worth considering is that the rock cover above the target Greenstone mineralisation is from 119 to 170 meters. This is significant for the economic considerations of any interested mining company. GLA
The drilling programme at EG may have just started in Q2 but it will not be finished in Q3. I have a concern where mining exploration professionals claim that RC drill results are not reliable at depths below 90 meters. https://www.911metallurgist.com/blog/basic-gold-prospecting-exploration-methods The 2016 drill hole programme started in October and results announced in January, over 3 months later.
It seems to me that too many posters today are reading too much into the MMI results. DYOR. More awareness of statements in the RNS, particularly concerning EG rather than Havieron. Understand the difference between diamond core and reverse circulation drilling. The operations in Q3 at EG will not necessarily produce results that a top notch mining company could commit their investment. Newmont are understandably holding back. https://investingnews.com/daily/resource-investing/drill-results-gold-precious-metals-explained-christopher-ecclestone-hallgarten-investors-junior-miners/ I read on another website that RC drill results are unreliable at depth. The 180m cover of desert sand at Meadows is a constraint. I am locked in here with a large share holding. I am patient and confident in the long term. However, we all need to be well informed and realistic about outcomes from the drilling programmes. GLA
JC, that is an informative link to Newmont Profile. I have not seen it posted here before in the last 6 months reading this B.B. The paragraph before the Keys to Success was particularly relevant. NM used their DSG exploration technology at Ernest Giles, a greenfield area with deep cover above anomalies of gold mineralisation. Looking back, NM had no option except no bid at this time. GGP had to do more to prove up Meadows & Wishbone to enable a commercial decision to be made. GH took quick action to comprehensively get the evidence required over the less extreme hot period of the year. 1000 MMI results coming in the next few weeks, from samples taken over NMs sweet spot area. It is over a kilometre north of the line of exploration holes drilled in 2016. Once they fine tune the next drilling campaign of 24 holes to be over the most promising area defined by all these successive exploration technologies, the results will be interesting to all of us, including Newmont. Even then, it probably does not mean an automatic deal. EG has similarities to Mt. Magnet, a historic gold mine now operated by Ramelius Resources. Take a look at the following to give an idea of the complexity of the business: https://www.rameliusresources.com.au/mt-magnet-gold-mine/ GLA
Hoppo I was a big seller yesterday. I plan to buy 2 x �20k of GGP in the next week to put in 2 ISA accounts. I am already holding too many GGP shares since Oct 2017 and, like many LTH�s it hurt on paper when NM walked in Jan. I still have faith in GH, having met him at the AGM last year. Sell a few million shares & buy back to shelter in ISA�s seems sensible at this share price. It may take until year end before this share climbs above the 2.4p seen before the crash. What we need is both proven gold and a miner who is seriously interested in taking it on. GLA