Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Why would anyone want to sell now? Surely this is a 'must-hold' unless you are a day trading algorithm...
Just to add to the knowledge pool, you might read that the use of graphite in lithium ion batteries is being superceded by silicon. This is not true yet. It is true that Li-ion with a graphite anode is at the maximum development and silicon anodes are in the experimental stage of development. Luckily there is years of demand yet for battery grade graphite as the likely scenario will be a silicon-graphite mix and batteries will be in higher and higher demand for many years to come. I know this because a relative works at the cutting edge of battery development and she pointed me to the papers. A bit niche for the investor but the bottom line is battery graphite will remain in high demand for many years.
Sadly you can only go near if you are working there. The whole of Wales is in a strict "firebreak" lock down and unnecessary travel is not allowed.
...and every month since the summer each fluctuation has created a new and higher base level. The only way is up but it will not be a one-way hyperbolic climb. There will be ups and downs because of short term profit taking . Patience...your time is coming. Hold.
There is only one site for an historic Welsh gold mine filmed in the 1930s. Clogau, St David's etc are all within yards of each other. The estuary is below. This is actually filmed some 10 years after the use of Welsh gold from the mine for Elizabeth Bowes-Lyon's wedding ring in her marriage to Albert, Duke of York. They were later of course to become King George VI and Queen Elizabeth (his consort).
Inheritance tax is complex. The entire value of an estate is totted up based at value on date of death, then allowances taken into account eg spouse, chattels, farm land exemption etc...Gold would be calculated at it's price on that day like any other investment. Read the Money Saving Expert forum on Wills Death and Inheritance, its very good. Take professional advice if you are not an expert.
It can only be your decision whether it is worth it. Only stake what you can and are willing to lose. It has the potential to be high reward.
I have to say I like Mark Austin's demeanour. He exudes cautious confidence without shouting everything in capital letters. His CV speaks for itself and I get the impression he doesn't suffer fools. I don't think he'd be within a hundred miles of Clogau unless he was certain he wasn't wasting his time. Rather than in the office directing things, he is hands on and obviously used to dealing with crew. He reminds me a bit of a good Merchant Marine Captain who gives orders calmly.... "Now boys, I think what we should do is this..." said quietly but with the utter conviction that 'this' is what is going to happen. The best type of leader.
Just did a bit of reading up on Appropriate Process Technologies, South Africa. Providers of the extraction/separation plant during the investigation phase at Clogau. Impressive company. Providers of modular kit all over the World that serves many purposes from experimental investigation to full production, and with proven technology. Used for both placer and hard rock mining jobs like Dolgellau. Don't expect huge winding gear and convoys of wagons in to the site bringing kit. This is neat bespoke trailer driven plant with the job of 'large scale' laboratory extraction/saleable production. Excellent. Also no issues with short term planning as this is portable machinery I guess. Sensible. Measured advances.
I see the RNS as informative and all good news. The core samples will be selected and sent for laboratory analysis. I suspect this to be a very small relative quantity, more than parcel post but not bulk 1 tonne bags. That gives an accurate estimate of the length of unseen available quartz and the grammage of any gold if any. The first part of the bulk sample to be sent off for processing .....note, not lab assay, which implies they know gold is in there. I can't believe they haven't crushed and panned bucket samples already. The remainder of the bulk sample, the floor sweepings and the old spoil to either be sent away or put through their pilot plant. Well they're not going to pay for it to be separated not knowing whether there's gold in there or not are they, and they need material containing gold to commission the S African machinery currently on its way. You can't see if it's working if there is nothing to separate out. So....all good for me. Hold. Patience.
QUOTE....
Next Steps
Samples of the drill core from the underground drilling programme will only be sent to an accredited laboratory for assaying once the entire drilling programme has been completed, following which, sections of the core will be sampled and prepared for dispatch.
In respect of the bulk samples, the first bulk sample is being prepared for processing at a third-party processing facility in Cornwall. The remaining bulk samples collected in the programme will either be processed at the same facility or will be processed by the Company once the Company's bespoke pilot gold processing plant has been fully built (and subject to timely receipt of all necessary approvals). The Company's previous advice - that, subject to timely receipt of regulatory approvals and no delays in shipment, the Company expects the pilot plant to be fully operational in Q4 2020 - still holds.
......UNQUOTE
I have no details of where the crew are based or their bubble. If what you say is true then Happy Days. If there are short term holdups it isn't going to affect the long term progression is it? The gold is only one aspect of an increasingly attractive portfolio. Onwards and upwards.
Whatever happens with a lockdown, it won't alter the outcome in the long run. The only way it might as far as I can see is maintaining the dewatering of lower levels and running pumps. That would be key work even if drilling wasn't. We aren't there yet as far as I'm aware, so there is no loss of investment or wasted work. Patience. I'm in for the long game. The key thing is GF is writing cheques, something he's not been noted for in recent years.
From my research one Mr Arthur Dean in 'modern' times from his discoveries in 1843 at the Cwmheisian mines near Dolgellau as reported in a lecture in York to the British Geological Association in 1844 and reported as an historical essay in the North Wales Chronicle in April 1858. There was archaeological evidence of gold mining in ancient times before that and by 1850 mining was well underway. Reports of yields of 6oz to a ton of quartz were regarded as disappointing !!
Solid rally today against all-comers. I could have cashed in my stake last week and taken a big free ride but I'm all-in and staying in with this one. Very happy to sit on my hands for six months or more. With cash in the bank, progress in Dolgellau on several fronts and a winter to plan the Greenland campaign there is very little not to like. Personally I would consider monitising the Horse Hill percentage and focus on Clogau/St Davids as both a working mine and an historical site. The area has a huge mining heritage which can be celebrated whilst still working. It is of International importance and only good for Welsh tourism. Modern environmental regulations will determine the speed of any progress. GF knows full well you can't do what the slate, copper and lead barons did in the 19th C.
Quite a lot of chaff today from people who don't do their homework. The South African company hired to provide a pilot plant for Alba Mineral at the Clogau mine site are experts in their field. Not only manufacturing the kit but also installing and commissioning it in some of the most geographically and politically dangerous parts of the World. It's well worth reading their website in depth. Not a lot phases them and installing a pilot plant in N Wales has got to be the easiest job they've had in a decade compared with the Congo, Zimbabwe and Colombia. Total faith in the contractors and GF now they have access to his chequebook which will be the source of progress. Well worth reading up on Appropriate Process Technologies. There are only so many sources of this kind of kit....Australia, the US and Canada and S Africa unless you involve the Russians or the Chinese. It hasn't been made in this country since 1890 or before that Roman times so no point crying over the spilt milk of British engineering. That ship has sailed. South Africa have some of the deepest mines in the World chasing marginal grammage per tonne. Why not employ their expertise???
DYOH
Barmouth, sorry
Two other extracts at random...
9.12.1891 ... The result of the clean up at the Clogau mine on Saturday last was 84 oz 10 dwts of gold from 20 tons 15 cwts of quartz. The gold was sent by the North and South Wales Bank to Johnson & Mathley Assayers to the Bank of England.
10.2.1892 ... This week 5 bars of gold weighing 571 ounces the result of four weeks crushing at Clogau were sent to Johnson & Mathley Assayers to the Bank of England.
...I also read that the mine owners for reasons of security employed 2 constables at the mine in addition to those at the Police Station in Dolgethley (sic) [Dolgellau]
My take is the seams are narrow and intricate but the yield is and always has been high. Hard work if the price is low, rewarding in other circumstances....
New poster. For information after LuckyBob's question. It isn't possible to post images on this forum but I have extracted several from the newspaper archive. Reports of Clogau, St Davids and the Vigra mine go back as far as the 1850s. They were noted as some of the most productive mines in the World in their day. Anyone who checks the BritishNewspaperArchive can search and recall some fascinating figures. An example: The Scotsman, Sat 20/9/1862 has a prospectus for further shares and quotes production figures Jan 1 st 1861 to Aug 2nd 1862 from the Clogau and St Davids Mine ... namely 942 tons 12 cwts and 1 qtr of quartz ore yielding 7041 oz and 0 dwts of gold. =7.5 oz gold/ton. In modern terms that's approximately 35 eight wheeler tipper wagons of ore yielding almost exactly 1/5th of a tonne of gold. The mine was actually opened for silver and copper until they realised there was gold there too. I'm from S Wales but have followed the history of Welsh gold for most of my life. I know this area well. Appreciation of the beauty of the area and the beaches (other comments) is nice to read but tedious joking references to sheep is not going to go down well with the locals who you lot need onside. I'm in on this one and well up at present. I wish them luck.