Member Info for diplomat

Good idea hopefully all the questions can then be answered together

They say they look at these posts so perhaps they can update us at sometime

Research and development costs
Eligible companies with a turnover of less than 2o million dollars receive a refundable tax offset allowing the benefit to be paid as cash refund if they are in a tax loss position.I assume we get a 25% refund as that would be the amount of tax we would pay if in profit. If that is still the case then we should be able to increase our cash reserves by a reasonable amount of cash considering the amount of drilling we have undertaken.

This may not have been the only reason he came over.

Do we still receive cash refund re research and development costs from Australian government.
The last one I saw was paid to MGA totalling £295,515 in RNS dated 16th January 2020

Blackhopper totally agree with your comments. The more holes we put in the ground the better the understanding
of the geology and more chance of hitting gold. Historically
the deeper you dig the better the grades.

Looking at the grades at Fosterville which is not far away from where we are primary gold was
present in the form of disseminated fine specks within host quartz veins. The presence of visible gold becomes increasingly notable at greater depth with increasing frequency at depths below 800 metres. I understand why most of our drilling has been around the 200 metres level
but finding it and proving it up is difficult. Watched a prospector with a metal detector on one of the gold programmes in Victoria finding a few small nuggets. Exhausted the area he then went back with a more sofisticated one which could locate gold deeper in the ground and then found further nuggets, To a certain extent proves the point

I wonder with the vast area we have in Queensland if we will use drone technology with a magnetometer. This reads the earths magnetic field and gives magnetic maps that offer drill recommendations for prospecting
Could certainly save money if successful.
Just a thought

Buying for a third party??

Something not adding up here.
List of shareholders on their website total 79.02
Add Phil and colins share holding who are not in that list
and that totals 92.42 leaving just 7.58% in circulation.
Unless my figures are wrong

Blue Moon
2 metres @ 17.87 G/T from 57 metres down hole in BBM007 with a zone of 15 metres @3.81 G/T
In addition BBM006 returned 3 metres @ 3.88 G/T from 170 Metres down hole within a zone 11 metres @2.42 G/T
from 169 metres.
To achieve an intersection of 17.87 G/T over 2 metres is noteable.
But also of significance is that this was part of an intersection of 15 metres @3.81 G/T from shallow depth.
Not shabby the above results and looking forward to more drilling there in the near future.
So not all bad news
GLA

The market value of Galena is dependent on the amount of silver and lead in it. In one ton of Galena the lead is worth $1,720
and the silver is worth $7,292. Gold can also be found in Galena. There are a number of mines in California"s mother lode country where small amounts of Galena are closely associated with high grade gold in veins that don't carry much lead.
The miners learnt that finding Galena meant that a gold pocket was nearby. Is it possible that Galena we found is worth something to another mining company?
Not a geologist so someone that knows more than me maybe able to answer the question ?

Might have another TR1 soon by the looks of the 1 million buyer

Cortech the manufacturer of our rigs in China has only one distributorship and that is in the States with Intercore.
Midas Drillins Equipment and Supplies has headquarters in London Kazakstan (Russia) and Victoria
Why Russia ? I know Craig when he was with Kryso Resources had interests in Tajikistan
Just curious !!

Agree with TS on his comments
Moving on
I think the podcasts are counter productive like a lot of posts on this board lately.
The only pieces of news we need to know is what is posted in an RNS and vetted by the
Nomad for its authenticity. Until then we are all p------g in the dark
Patience is a virtue which not many people have.
Lets see where we are in six months time and if people are not happy with their investment then
move on.
Only my opinion so know doubt a lot of posters will not agree with my comments
GLA Hibernating for six months

Gino i respect your view like i do on all posters on this board, however with three top geologists a CEO that has brought three mines into production i find it hard to believe that they think this is dead in the water and not worth continuing with if they were not confident of a successful outcome.
Still again what do i know.

Arsenopyrite is a hard metallic iron arsenic sulphide with steel grey to silver white colour and the main source of arsenic
The mineral is associated with sulphide orebodies and gold deposits.
Pyrite is a brass yellow mineral with a bright metallic lustre however pyrite is often associated with gold
The two minerals often form together and in some deposits pyrite contains enough included gold to warrant a mine

Interesting to see the late trades tonight

I think we are all disappointed by the RNS today
The CEO is not some wet behind the ears guy with no experience in the mining industry.
He has successfully brought three mines into production. He has kept costs down to a minimum
and even done some of the legal work himself to cut costs. So i don't think he would raise more
money having said that we were well funded into 2023 unless he had a reasonable explanation
on why he needed it.
Apart from this RNS most people on here have been quite happy with the way he has run the company.
The staff he has brought in are all experts in their field of mining and exploration.
Lets all be a bit more patient and see what happens at the end of the month with the news he has promised us.
Looking at the buys a lot of people still have faith in the guy
GLA

And telephone number LOL