Member Info for elir71

Within 4 weeks a similar amount of cash would have been available as revenue. Sorry but this smacks of a disregard to shareholders.

@jeremiha : they've a small front end loader down on level 5 which would increase the capacity of clearing out.

I think it is time we started to hear for Vivienne Johnson Glass about her plans for marketing an ongoing stream of welsh hold production. The figures I am working on the back of a matchpacket is producing £3M a year from CStD, the costs being £1.5M Naturally I would hope this would not be a hand to mouth operation moving forward, for which we will need financial discipline to maintain a dominant control of the market price moving forward.

Just got 297397 top up .... on the basis that they'll make the list first time round

great pr from stefan

A question that I havent yet asked, and really ought to is how much Greenroc owe ALBA and how much HHDL owe ALBA

I seem to remember ALBA lending HHDL a fair whack a couple of years ago, and frankly, I doubt there will be much hope of any repayment from HHDL, I've in my head written it off. Nevertheless I would like to know how much we are owed. Naturally our equity stake is virtually worthless unless a third party wish to take on the project

GROC owed ALBA 50k, repaid in GROC placing shares

I can understand and I agree with not disposing of GROC holdings at this time, however there does come a level of ALBA placing price where to preserve ALBA shareholder value then small disposals would be preferrable until we establish a revenue stream

@Prentice .. pre revenue companies with few tangible assets that loans can be secured against, don't meet the criteria of most lenders. That said, off the shelf processing plants could be leased. I dont know if you are aware, but recently QED did an interesting placing (its trading at 25% or so over placing price just weeks after) .... It is called soft preemption.

Naturally a full preemptive rights issue would be somewhat cumbersome for a small company, however, what they did was "soft preemption", where, in tandem with the popular brokers, they allocated shares to applicants loosely proportional to their holdings..

The problem is that the market is not recognising the value added to the operation by the placing funds.

In some cases that is quite accurate, as little was achieved during the NRW debacle, so I see that period as pretty much an overhead hemorrhage. Nevertheless a great deal of progress has been made at the mine, which should be acknowledged, and rationally, if efficient market theory was right, then the investment should be recognised by a rise in SP (just as the delays due to NRW's laconic workrate was recognised by a steep drop).

Nevertheless, until we get results then forecasts can only be made on guesstimates.

A placing prior to the sale of coins would be nonsensical of course.

5 lorry loads

At present runningvone shift about 3 months to process. Faster with 2 shifts. So I'd expect those results late March

Regrettably, I have come to believe with good reason that Kobus is no longer the mine manager. I'm sure that I speak for many long term holders in thanking him for the staggering progress that he has made at the mine, regret his departure and wish him all the best in his future endeavours.

Did the French ever get their gold back

Thank you for your analysis ocelot.

When I talked to MA at the mine a few weeks ago, we discussed the possibility of running two processing shifts, so that would increase capacity.

Ultimatly however, I think that a purchase of a bigger plant will happen sooner rather than later. And although I did express my opinion to MA at the time, that I would not be happy to see a placing for a bigger plant until the current one was running for some time at full capacity, I have since revised my opinion and that a new plant should be sought sooner rather than later.

Ultimately, I think the limiting factor of the mine would be an anticipated future planning restriction of 5000 T of material surfaced, as there are empty stopes available, then only ore, at least for a time need be surfaced. So if we have a plant that can process 5000 T per annum without doubling up shifts which has an ongoing labour cost implication, then that would be the ideal size. ... so a capacity of 25T / day .... 100g Au .... today spot £ 7,500 ... so assuming a x3 welsh gold premium £16,500 a day revenue .... £3.3m revenue p.a. (revneue not profit) ... probably an 8 person operation

There's a few aspects particular

1. The structure, which has been modelled from surface drilling and drilling from existing workings laterally. MA has stated that he has sufficient information about structure to proceed.

2. Controls, what are the conditions that have caused the precipitation of gold from the super heated water at the time. Dominy's paper on the subject deals with t his very well and marries up with ex mine manager's hands on experience

3. Grades, from bulk sampling.... with the caveat that the gold grade is going to have massive variation over relatively short distances and this is pretty much unpredicatable. However, as far as I'm concerned, as long as the background grade of gold is sufficient to maintain the ongoing direct cost of mining operations then I'm happy. When we strike bonanza grade pockets ... then that's our bunce.

Needless to say the effective marketing of ongoing product is crucial as the premium is as important as grades

1oz Welsh Gold coings to be auctioned last week of March

Something released on investor hub ..... not visible to me

I'm sure you'd find a site visit most engaging and interesting.

Could we infer that if a site visit is planned that operations would be ongoing

Is that raises jetty ?

@dontpanic

25g Au /t a low grade? that's an exceptional bonanza grade. Even 4g Au / t is good for a SA goldmine without even any Welsh gold premium

@GoldnOilDigger

QED did a soft pre-emption placing last week that went well. HL facilitated

@aimtoplease

odd to read what you wrote. I had a quick drink in the unicorn in with the mine manager three hours ago. He seemed buoyant, and although we didn't have time to talk in depth, as I was on a break on a bus journey, he seemed happy with progress.

Given that, and my recent mine visit, I hold considerably more optimism it seems, than you.

On what basis do you assert your claims ?

can you substantiate your assertion?

What's changed ?

geologically derisked

processing facility added to the proposition

critical materials tentative support from EU

increased political awareness of friendly sources

exploration licence expanded

exploitation licence application submitted and response expected this quarter

I thought I'd asked for £5k worth through HL. Seems Ive got just shy of 5000 shares allocated. Anyone else had the same problem ?