Member Info for Dip666

David Erfle making his case for investing in quality juniors and POG rally:
https://www.kitco.com/commentaries/2022-01-07/10-reasons-to-be-bullish-the-gold-complex-in-2022.html

No major corporation is going to time a deal for the sake of SRES's planned AGM unfortunately.

They'll complete on any deal at their own pace and time, hopefully in time for the AGM but I wouldn't treat that as a 'target date' personally - just to then get upset if nothing materialises :-)

Yet another great addition to the GGP team to help 'scrutinise, understand and contribute' towards all aspects of the Havieron project & help develop the depth of skills across exploration & production areas for future growth.
Shaun is making a real statement about intent ;-)

No way that was Bill with the original tweet, he or another senior team member probably had it deleted pronto as it's alluding to iron ore prospectivity via social media vs XRF readings/Lab results in an RNS, you can't be tweeting like that - unless your name is Elon Musk I guess :-)
Still it's good to know things are progressing well!

Yep, just wrote the same in Telegram group that the first tweet was uber rampy lol

• Exploration Targets were defined to demonstrate upside potential of the Kharmagtai Project, incorporating areas which could potentially be added to the resource inventory in the near to mid-term.

• Two types of Exploration Target have been defined:
? Exploration Targets defined on the basis of drill hole results, as well as extensions of a 2018 Mineral Resource estimate.
? Exploration Targets where corroborating ****geophysical and geological data highlight potential extensions to identified mineralisation and hence are potentially more conceptual.
• SRK has assumed that a reasonable buyer would take these exploration targets into consideration when purchasing the relevant assets, but would assign the majority of value to the stated Mineral Resources.

1) Comparative Transaction: In SRK’s opinion, the transactions considered most comparable to the Kharmagtai Project are two Oyuut Ulaan (Red Mountain) transactions.

2) Usual Yardstick Ranges:
? Measured = 2% to 5% of Spot Price
? Indicated = 1% to 2% of Spot Price
? Inferred = 0.5% to 1% of Spot Price
? Target = 0.1% to 0.5% of Spot Price

3) `Peer Analysis: Reviewed the Enterprise Value (EV) of selected listed companies (ASX, AIM, OTC and TSX-V) with defined resources as reported by S&P Global Market Intelligence.

4) Geo-scientific approach : As an order of magnitude check, SRK has also valued the Kharmagtai Project exploration tenure using a geo-scientific method. SRK notes that the base acquisition cost (BAC) for an average mining licence in Mongolia can be calculated using only the rental costs plus reasonable administration costs, as there are no minimum expenditure requirements.

5) Rule of Thumb : This means allocating a dollar value to each resource tonne in the ground based on recent transaction data with secondary support as implied by standard industry yardsticks. Where appropriate, discounts are applied to the estimated contained mineralisation to reflect SRK’s opinion of the uncertainty in the estimates.

End

Synopsis of the Summary:
• SRK has relied upon the Comparative Transaction(1) methodology to derive its selected value range for the stated Mineral Resources, Exploration Targets and the exploration tenure.
• Secondary support for the derived values is mostly carried out using the Yardstick(2) and Peer Analysis(3) methods but a Geo-scientific (4)Approach was also used for exploration targets that is Cost-based which also allows for Exploration Targets..
• Most methods were Market-based Approaches from the Valmin Code as oppose to Income-based or Cost-based, Market-based is the only approach that includes: Exploration, Pre-Development, Development and Production categorised projects.
• SRK has chosen to position its preferred value for exploration targets above the mid-point in recognition of the fact that the exploration potential is associated with a granted mining licence, enabling the rapid progression towards mining should appropriate technical studies prove positive.

• When only a Mineral Resource has been outlined and its economic viability remains to be established (i.e. there is no Ore Reserve), typically SRK employs a’rule of thumb’ (5) approach to resource valuation.
• Exploration Targets may be valued similarly to defined Mineral Resources but typically include a substantial discount to reflect the lower levels of confidence or lack of supporting data underpinning such estimates.

• For poly-metallic projects containing more than one metal or commodity, such as Kharmagtai, it is common to adopt a metal transaction ratio (MTR) for valuation purposes.
? The MTR is the ratio of the transaction value (as implied by transactions involving comparable projects) to the gross dollar metal content (as implied by the contained metal held in Mineral Resources for the comparable project), expressed as a percentage.
? The MTR enables direct comparison of projects based on metal content and is used for valuation purposes only. It does not consider ultimate metal recoverability as required by JORC Code (2012) and hence caution should be used when assessing metal content for any other purpose.

• To value Xanadu’s Mineral Resources/ Exploration Potential at Kharmagtai, SRK has carried out a search for publicly available information on market transactions involving similar assets that have occurred in the period leading up to, or about, the Effective Date of this valuation. (October 2019)

Continued

It wouldn't make sense for Bill to go for more ground around EH/Munni Munni if they weren't expecting good results Wents - we'll find out when they get back I guess :-)

Hopefully the wet season allows W.A based labs to catch up on their backlogs in time for the new drill season and do a better job of keeping up with their expanded resources in the coming year.

Thx Timber and as Zoros say's you were on point indeed mate!
Like many, I know how you feel so posting a lot less too, but is important to try and post anything useful we can still :-)
Think it makes sense to use this thread to post a few of the useful links that have probably got lost over the last couple of weeks as below. It's why I prefer Telegram (besides avoiding trolls and engaging in grown up debate) TBH as BR just pins useful stuff in the highlights channel so easy to reference again.

Link to presentation slides that are a good reference to get an overview of the Valmin Code and a bit on the 'Reasonable Test' towards the end (those particular slides are weighted towards one, not all of the valuation approaches):
https://www.csaglobal.com/wp-content/uploads/2019/11/MGEI-2016_The-VALMIN-Code_Ivy-Chen_October_2016.pdf

I'd recommend watching the YouTube presentation below too as it helps understand the valuation process and application of the Valmin Code really effectively:
AIG RPGeo E-Forum Series: Mineral Asset Valuation, by Trivindren Naidoo, Mark Berry & Shaun Barry
https://www.youtube.com/watch?v=Odc0Y0ppI1E&list=WL

Other useful document cross-referenced in the Valmin code:
https://download.asic.gov.au/media/5827832/rg111-published-22-october-2020.pdf
https://download.asic.gov.au/media/1240943/rg170-010411.pdf
https://asic.gov.au/regulatory-resources/takeovers/forward-looking-statements/mining-and-resources-forward-looking-statements/

Hi all,
had a chance to look at an example of a Valmin report dropped into the telegram group by 'GGP LTH' (SRK's Independent Valuation of the Kharmagtai Copper Project, Mongolia) and pulled out a few pertinent sections into a summary in trying to evaluate how SRK came to their conclusions, as might provide some guidance on how an independent assessor (if required) may undertake some aspects of assessing Havieron to determine which valuation is closer - if it comes to that of course.
Copy of the Valmin Code in the folder too for reference and my PDF has a link to the entire report at the beginning.
https://gofile.io/d/F6zf67

Max should come and work for your outfit then Wents as you appear to be paid to post on bank hols lol

How could you guys forget WOWEE lol

Happy New Year All - 2022 is going to be exciting from beginning to end :-))

LOL No idea why that double posted on it's own - wasn't me :-)

The FMV Championship of the World!
The 20th Century saw 'The Rumble In The Jungle' & 'The Thrilla In Manila' - 2022 will see the meeting of two Goliath's in …….. DUST UP ON THE DUNES!!!

Some New Year’s fun after a challenging year - Happy New Year all!
You can view the official ‘fight poster’ at the link below!
https://gofile.io/d/cQZGBM

The FMV Championship of the World!
The 20th Century saw 'The Rumble In The Jungle' & 'The Thrilla In Manila' - 2022 will see the meeting of two Goliath's in …….. DUST UP ON THE DUNES!!!

Some New Year’s fun after a challenging year - Happy New Year all!
You can view the official ‘fight poster’ at the link below!
https://gofile.io/d/cQZGBM

It's easy in principle Silverhorse - ignore short term SP swings and focus on quality in your portfolio and over the years that's worked for many here including me :-)

It's when you try and get too cute with trading in and out in relatively short time frames based on sentiment (versus being a TA focused trader) that most come unstuck on the markets IMO.

@silverhorse, yes close at 12:30 and reopen Tuesday :-)

Not sure why they don't pay a decent web developer to rehash the site completely as it's so antiquated in terms of format and technology and even worse on mobile devices, perhaps the volume of archived content is the issue?

I use the messages view and just press reply to read a thread, simplest method I think :-)

The Notorious Biggie Loser is a sad sad tale of a boy with a lack of talent and aversion to hard work to make up for it.............a rags to rags story as such.
A year or so ago when he was the artist formerly known as TheGreenFool I revealed on this very BB that I'd been hiding my true identity as Sandeep's Director of Global Talent Acquisition and had decided to give the kid a chance and offered him a job. We all make mistakes...........
As promised the Limo turned up the next morning and we picked up a rather nondescript snotty nosed brat who insisted on bringing along his fisher price Fun 2 Learn toy calculator - already I was starting to get concerned as I stared at this drooling mess of a simpleton on the drive to the airport.
The flight via chartered jet to Telfer wasn't fun either - aforesaid brat sung Weebles Wobble But They Don't Fall Down for the entire flight............thank god for hard booze and ear plugs.........thank the lord indeed.
48 hours later (after many calls from the Hotel asking we reconsider his stay as he kept peeing in the hotel pool (while singing Itsy Bitsy Teenie Weenie Yellow Polka Dot Bikini) I found myself sat with the idiot across from my old pal Sandy Balls in his expansive office (nickname from our Uni Days together) explaining that my charitable nature had got the best of me and we were now stuck with this simpleton.
But Sandy Balls didn't get where he was without being a smooth operator .......... he advised we offer him a job as a Night Parrot Watcher and send him off on his merry way with binoculars and a digital compass app on a smart phone into the Paterson........... we never heard from him again.
But it seems that even one so dumb can experience blind luck and he seems to have returned to civilisation to plague us with his 'maths', the one single thing that you can rely on with BiggL and his calculations is this:-
They Don't Add Up.

I had an email response to clarify my understanding of the process as listed in my post was correct, the reply confirmed it was but also made the point that both parties can mutually agree to anything they want in terms of process if both are amenable Jack.

I just literally wrote the blow in TG and applies as much to this convo :-)

As per the process the 3rd party will only be brought in if both parties become intractable on their own valuations and end up having a greater than 10% disparity so an average can't be fixed.
To me , it would make sense to start negotiations by agreement on the parameters they'll both use for initial valuations and negotiate from that point - would certainly aid a smoother process and help avoid extending via the Valmin Valuation etc.