Member Info for elir71

I think the French market will be the first for XFiltra to gain big penetration into.
I've been pleased with progress under the circumstances and see the company metamorphosising from pre revenue speculative stock to a solid small IP company.

Ive long had him down as a fake account controlled by a corrupt MM or broker who is trying to get gullible PI to sell their shares cheap when their client wants to buy shares cheap.

Placings and dilution

Placings where the proceeds are well used do not necessarily cause dilution of shares of future profits. I justify that view by giving two examples :

Ex1. A company sells widgets, they have a full order book. They wish to increase turnover however they need more working capital to hold more stock. Rather than retain profits to build up the necessary working capital they use a placing. The earnings per share remain the same as the increase in profit from the increased turnover from the increased stock is proportional to the increased shares in circulation. No dilution

Ex2. Another company has most of its cash outgoings as overheads. It is waiting for its golden goose to start laying golden eggs. It was expected to start laying now, but the goose has told the company it will start in a year. They do a placing to buy golden goose food for a year. That's dilution.

I presume tomco will need to chip in for posp 5000 x 2, valkor also contributing.

Just to be clear, from my reading of reports produced over the years, my best guess is 17g Au / t of targeted ore extraction. The big advantage alba have is a targeting methodology as compared to chasing visible lodes

0.09 g Au / t ore would equate to about GBP 5 a tonne of ore mined. So a total disaster. Ore at that level would be more valuable as general fill for roadworks as that's about GBP 10 a tonne. I've previously posted a range of expected grades and sp impact

Would prefer a bit more in terms of shareholder preemption rights

@tullycrow
I think the difference between now and other false dawns is that the 500 bopd posp has a firm date for opening albeit as trial. I think valkor has been a big driving force. What concerns me more than the eye-watering dilution is what can be expected in terms of product grade without msar. I really thought they'd have already shipped enough material to England for tweaking the msar formulation. Still, the progress has been positive, but this needs to be the last placing before commercial production. I suspect a bit of pump and dump play may occur early December. I must applaud pqe on their recent pr

With nugget gold I would pay more heed to the bulk samples than the core samples as the bulk will be more representative

I'm very disappointed that the samples had not been taken some months ago. Three or four flat standard containers could have been delivered to the research facility and all the necessary formulation could have been ready for the turning on of the POSP on week commencing 30th November. The lack of alacrity gives rise to a suspicion that the BOD are eyeing up another placing, rather than concluding a commercial deal at Utah by the end of Q4 2020.

Actions speak louder than words

... like burning your bridges with an existing source of finance and buying gold processing kit

If people wish to invest in anticipation of the results and then choose to divest quickly, then it is perfectly legitimate trading, which doesn't disadvantage existing shareholders one bit. No one is compelling them to sell their shares to daytraders. On the whole investors get wary of shares that get suspended as, even if it is not for any regulatory reason, it still represents a serious impact on the liquidity of that asset. You may be looking to divest some of your holding after a steep rise yourself ? wouldn't you want the maximum audience of eager new investors queueing up at that time ?

Pilot plant on way or arrived ... probably already priced into the SP
JV with jeweller ... yes I would agree with you

I know I keep banging on about how a welsh gold based para crypto currency would intermediate between efficient mine production, preserving premium, preserving provenance, supplying jewellers .. but here is an article about gold based para crypto currencies

https://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/

TAx issues with bullion .... you could always mint it as legal tender, then no VAT, capital gains

@Glashir , what do you think about my idea of blockchain registered bullion coin ?
as the ultimate consumers are jewellers, it may be more technically efficient to mine gold at a greater rate than the consumption by jewellers, so the company could mint bullion coin backed by a blockchain system to assure its provenance (to prevent kruggerands being molten down and fraudulently reminted as welsh gold). That way, the company could hold a the coin they dont need to sell (but its held on their balance sheet), some coin can be sold to investors using the blockchain system and jewellers could buy the coin for jewellry production as they need it. Good for practical mining, maintenance of authenticity, cashflow.

Thank you Jack. Where did you find it I've been looking but didnt find it

The real pressure that the BOD will be under is from Bergen. They have put themselves in this position by failing to reach commercial terms with Greenfield, where the POSP is to be turned on late THIS month. In the absence of an income stream from here then the BOD will have to seek further finance, probably from Bergen, probably in the form of convertibles which have the effect of dilution of shareholder interest but probably the only feasible source of finance under the circumstances.

As I understand, the second £2 M tranche from Bergen come with preconditions. I do not know what those preconditions are and so, I do not know if the preconditions have been met.

Here is the glaring danger for QFI: they run out of cash in Q2 of 2021 unless they either
1. get further finance from Bergen
2. start making money

If they don't then the outcomes are not good for existing shareholders ,

1. the outcome would probably include a consultancy role for Jason for his knowledge with a predator company that would snaffle up the intellectual property and tax offset for a song.
2. suspension of shares trading

If I were Valkor, then if QFI look like going through the hoop, I'd probably go for some sort of asset strip in the event of an illiquid position for QFI.

So, the real pressure on MK comes from Bergen and he is not being open about what these preconditions are.

Q . "What are the preconditions to the second tranche from Bergen ?"
Q. "Do you think you will need the second tranche ?"
Q. "Do you think you will meet the preconditions for the second tranche?"
Q. "Given that the POSP has just gone into / about to go into production, by what date do you envisage concluding a commerical deal, not trial with Greenfield ? "

I'm getting fed up of hearing about far off on the horizon projects that could only possibly mature in years. QFI do not have years, as they don't have the money nor sources of money to keep the lights on that long. Lengthy trial after trial does not cut it with me either.

I want to hear focus and commitment to bringing to fruition the projects that are immediately realisable which in practice means Utah.

I don't even care if that does not maximise the share of uplift that we would normally hope for in the future. I remember when I opened my first business I virtually bought the first contract just to get credibility. I know the BOD have had difficult cards to play and events beyond their control have thrown them curveballs, but the window to close the deal in Utah is upon them and they need to accept this.

If a commerical deal is not in hand by the end of February then I can see this going t**s up for existing shareholders

Gwynfynydd isn't exhausted, it was just that with gold at US$300/T the investement needed to develop new areas outweighed the rewards at that time.

Gwynfynydd Mine

Mr008 - do you realise you are talking about another mine ?

As posted by Mineralcity

https://www.nmrs.org.uk/assets/pdf/BM3/BM3-12-16-synopsis.pdf
“Synopsis - Clogau St Davids Gold Mine, Bontddu, Merionethshire”. British Mining No.3, pp.12-16. BRITISH MINING No.3. MEMOIRS. 1976."

I doubt this would be repeated BUT ....
Year 1862 then 2893 oz from 455 tons of ore which is 180 g Au / T ----> an eye watering 24.5p SP increase

More recently a non lab assay 23.5 oz per T which is 667 g Au / T

Now these have been selective samples, so not necessarily representative of the 500,000 T of ore

So Mr008 .... tell me ... what is the lowest grade of ore that you would consider worth mining ?

MR008 asks "According to historical records, there is 1 ounces of gold per 2.1 tons of gold ore. 78507ounces of gold were produced in 49 years. The average annual production of 1602.1ounces of gold. Is the gold content too low? If the content is low , then is there any mining value?"

1oz per 2.1 tonnes is about 13.3 g Au / T

I've previously published my analysis of a grade's contribution to share price with a brief explanation of method and assumptions.
grade in Au g / T impact on SP at assay result + 18 months ... assume 50% of that impact upon results in p

5 Au g / T 0.67p
10 Au g / T 1.35p
15 Au g / T 2.02p
20 Au g / T 2.69p
25 Au g / T 3.38p
30 Au g / T 4.05p
35 Au g / T 4.72p
40 Au g / T 5.4p
50 Au g / T 6.75p

so your expectation of 13 g Au / T would correspond to a share price increase of about 1.8 p
so if you discount the value of all the other assets Greenland etc an increase if SP of (1.8 - 0.47)p = 1.33p
1.33p / 0.47p = 283 %

so Mr008, if that's not worth getting out of bed for then what is ?