RE: Brazil JV Update16 Jan 2022 13:29
The share price is disappointing at the minute to say we’re in the best position we’ve been in for years and the share price is currently less than a third of last years and 2020s highs. The news rich period was effected due to Agnico taking over operationship at an unexpected time, the Orosur BOD had spent months planning for the future exploration only to have this all made irrelevant by Agnicos decision to grab the reins. The fact is now Agnico are now ramping up activities on Anza and are intending on spending historical highs on exploration. Agnico are a 18% shareholder in Royal Road Minerals, who are currently drilling Guintar our neighbour which is thought to be a Porphry similar to La Cejita but much smaller and has just returned results of 303m @1.1g/t and 126m @ 1.4g/t. By no coincidence Agnico have now unleashed a 45 man team to work on getting the licenses sorted for La Cejita and are holding back drilling other tenements Pupino and Pepas which are ready to roll in favour of starting on La Cejita first. Three rigs are still churning on Apta, Brad is on his way to Colombia I believe it may already have arrived there. The Colombia update including assays should not be too far away, which will be the first under Agnico operationship. I’m hoping Brad will get more in depth information involving BLEGS, soil rock and other sampling once he arrives at Anza, therefore allowing a update no necessarily material to Agnico and Newmont but important to us and Orosur. As he discussed on the conference call Orosur have also submitted land applications around Anza I wonder if he’ll have a sniff around these. Exciting times ahead, especially once La Cejita licenses and permits sorted, though that could be a few weeks / months. Another presentation due in a few weeks according to Brad so should get some new information then.