Member Info for elir71

11th feb 21 RNS covers this

Why do we need an exploitation licence when our exploration licence allows us to sell the gold ?

Of course, this assumes that mines royal will grant another exploration licence

Https://www.bbc.co.uk/news/articles/c9d5jwvw9nlo

What's the consensus about the cost if a suitable processing plant ?

Do we think it will be funded through placing or through at least in part the sale of coins ?

Would we expect some more detailed plans for product marketing from V J-G prior to coin auction

@ocelot , "as an alternative" ? could be, as well as !

I've read your opinions on 2 year + before a rerate

I'm my view, the initially explored area is geologically derisked. I expect the mine to open in 2027. The remaining uncertainty is the finance package.

In my view a substantial rerate or take over of either the company as a whole or amistoq is likely at some time between the granting of the exploitation licence and the mines reopening in 2017.

The levels of share price appreciation others have recently posted are in line with my thinking

It is my understanding that the strategy around securing financing to commence exploitation at Amistoq is to secure grants and soft loans from governments first, then seek private sector finance thereafter. Imo, it is the uncertainty about financing that's holding back the SP at present. The timescales of the adjudication of grants and loans are also an unknown, however I speculate there'll be considerable political pressure on the granting bodies to start supporting credible ventures sooner rather than later.

I expect the exploitation licence to be granted within 10 weeks.

T dot me forwardslash

*************albaminerals

@Robbie. yes coins will be struck on an ongoing basis as I understand.

Naturally our interest may now focus on the price they may fetch and Vivienne Johnson Glass' proposals for marketing the product

Well you could make inferences ...

The clear inference being, there's gold at the mine. the old timers didn't have it all, in fact, they discarded a lot if it

@Robbie .... please explain your "no gold" comment ?

I saw a 99.999% pure Welsh gold 1oz coin

GF told me he hadn't decided on which auction house to use as yet

@Robbie

Just to be clear, concentrate is being continuously produced, coins have already been produced. I was given to understand that the assay test results would be published all together. As you can appreciate each piece of ore will have wildly varying gold content, so rather than publish as they go, then a more balanced appraisal would be to judge on the whole results.

Everything I saw on Friday was affirming.

@Robbie

these are my estimates ....

3 months to drive the tunnel and do the rises.

processing is being done in parallel

Assay / lab Turnaround in the past has been about 6 weeks. So I would expect early June.

from a physical point of view this is de facto a working mine

I had a Frank discussion with George in the car on the way to the mine. Whereas I understand the need to have projects at different stages of development and not casting any aspersions on the potential of the Sweden project, I expressed my reservations against committing to an expenditure through newly issued shares when Clogau St David's mine was in probable need of support through the coming year. We agreed to disagree on this.

When I got underground , it became clear that the mine was in a far more advanced state of preparation than I had anticipated. At level 5 llechfraith, the previous ore on the floor has been collected, blasting along the vein has commenced. it is planned to advance this 25m blasting and clearing out on alternate days. Two rises will then be blasted. All the time ore is being won. The processing is the bottleneck, however only one shift being run at present. That may increase to two in the near future.

A diesel mini front loader is at level 5. The ventilation is impressive. A tunnel past miner's had advanced under nant leeches has been sealed off.

I mentioned to Mark that I wouldn't be happy to see a placing to pay for a bigger processing plant until the existing one is at capacity for some time.

The mine manager has a clear vision and is a practical, experienced and driven man.

I had discussed PR with George, how it needs to improve and he emphasised the importance of timing. I expressed to him that I would like to see a higher sentiment / SP before placings and that we shouldn't spread our resources too thinly with new early stage projects.

All said, having seen the progress of the mine, I have not been so confident in many years.

In summary, I offered my view on placings

Selling out is not likely to be as profitable in the long term as selling graphite

@scotalba. I think everyone appreciates the need for capital to bring CStD to fruition. However, in the light of scarcity of cash then

1. why isn't waste tip being progressed faster

2. why commit to other capital demanding projects

now us the time to focus not broaden our activities

Sadly the good news is always tempered with an anticipation of a placing. If the BOD was less secretive about such things and said .. . look we're going to need to raise £xxx k this year to achieve a specific yyy, and stick to it, coupled with good PR (not the same as expensive PR) then a great deal more confidence would be put in the share. Im concerned once again, that, shareholders generally owning beneficial rather than legal interest in the company are in many ways having their influence eroded. True of most nominee account / AIM shares, not particular to ALBA

Does anyone have a credible comparable for the timescales for the processing of the exploitation permit ?

When these results are published, I really do hope they dont do a "concentrategate" again