RE: Have to move out of this trading range soon.......?25 Jun 2025 18:01
"Either we dont have any gold worth mining "
... this is why the bulk sampling of the rises is being done. At present, I would imagine that they are in the process of driving the level (extending level 5) to the bases of the proposed rises. The results of which will form the basis of the internal economic assessment to determine if there is gold worth mining.
"or there is gold but they are not capable of finding it."
Llechfraith has been subject of a drilling campaign which has enabled a modelling of the structure of a potentially gold bearing vein. The vein above level 5 is largely unworked. The vein has been proven to extend well below level 5. Other potential structures have also been found from a well planned drilling campaign which takes into account the controls on gold deposition (Simon Dominy published a paper on it).
Naturally the extended period to obtain the dewatering / abstraction / discharge permits was frustrating particularly as I felt that more could have been done in terms of the waste tip during this period, so the bottleneck of the pilot processing plant would have had less impact on the programme and some positive sentiment generated from earlier gold sales may have abated the erosion of sentiment over time. The suspension of blasting (reason not really explained, but probably due to the exploration option having run out is frustrating in another way ... because it was entirely foreseeable and much of it was within ALBA's hands, so at least partially within ALBA's control.
Nevertheless a great deal of work has been put in place in terms of operational preparatory work underground
My main concern being the timescale of the regulatory process that would need to take place to get the full exploitation licence in place , including the dual planning permission process and no doubt another encounter with the laconic NRW. Its easy for me to call NRW that from my chair in my home, however George has to maintain a functional relationship with them on our behalf. I would like the company to undertake parallel processes, so that the physical reality lays on the critical path as opposed to regulatory delay. I've put this to the management , George and Mark, but I do appreciate that they are doing all of this on a shoestring, though, I suppose to say so publicly may not help matters of confidence and sentiment.
It's easy to point fingers at the person in the hot seat, so I ask, what would you have done differently ?
I can think of many things and Ive expressed these to the management which was received graciously despite us not being in agreement.