Member Info for elir71

Pilot processing plant has been and will be needed for processing bulk samples and for processing spoil heap.

There was a disappointing turnaround time for the bulk samples a few years ago and I hope the Bod have learnt from the 'concentrategate' episode.

More Nonsensical drivel from the depth of the night. What would the motive be for someone who didn't hold shares (or a call spread bet) possibly have to take actions to influence an upward sp drive.?

Thank you for the link

It may clarify vivs role, as some posters seem confused

I very much doubt that a suitable offtake partner would be Clogau Jewellry exclusively.

@ocelot
they arent the only possible producer. Anglesey mining have the Parys mine and could in the future produce limited amounts of gold from that.
there's also panners

Ive enquired with the company some time ago as to what actions they were taking to prepare a sales process that maintains provenence of the gold, so I am especially pleased to hear of her appointment.

no i dont think its cart before horse. Its good to preempt production with the means of sale. Very good appointment glad to see they are taking early actions as opposed to reacting to events

I suspect that most investors who are comfortable with exposure to dewatering have already placed their bets

@ryan
Wedding ring gold. The Clogau St Davids project is in exploration stage not exploitation. Why would you measure the progress on produced gold.

Successful exploration is about modelling structure, bulk sampling to build a representation of the resource which investors can have reasonable confidence in and which can form the basis of a mine plan. Although I have criticised rates of progress on this, I can't fault the methodical approach. Far better than following noses.

https://asbury.com/

these guys

@ocelot with respect to my back of a vape packet post, it should be borne in mind that ALBA's proportion of the shareholding would be vastly reduced in the hypothetical mega placing scenario that I posted to about 9%

Scotalba has a pretty good take on the inner workings of the NRW

These assumptions :-
Total graphite resource 3,260,000 T
Life of mine 10 years starting 2027
capex required (2023 £1M, 2024 £1M, 2025 £5M 2026 £10M)
current sale price graphite per tonne £1036 rising by 5% per annum for 5 years then flat (ref mordorintelligence)
direct costs per tonne of mining £20/T
Royalty 5%
Extraction rate 326000 T per annum, do able with loading a mini bulker (circa 2000 dwt) every two days from simple pontoon or jetty

NPV10 used gives £1,432,925,188
Equity / NPV10 ratio commonly used 50%
so fair market capitalisation should be £716,462,594

assuming a hypothetical self development made from mega placing at current levels (worst case scenario)
capex required £17,000,000
20% discount to current SP then that means
531250000 new shares
111000000 existing shares
642250000 post mega placing
NPV10 * 50% = £716,462,594
Fair value per post mega placing share £1.12

... thats just Amistoq

@nolumungu

The shareholders they targetted at the spin off were high net worth investors, as such they would have been aware that future cap raises would be required. It is entirely possible they could do this as a rights issue , or at least shareholder participative placing. I dont think the "port", terminal need be too elaborate an affair. Much can be done with pontoons ,dolphins, piles. I doubt youd use a particularly large vessel for offtake here as its very high value per mass. Its different in Melville bay, where you'd use a handysize bulker (according to a 2nd officer of a ship I was co of, who used to be a London iron ore trader).

yes there will be a requirment for a further cap raise, however it could be a hybrid of equity/debt and all variants inbetween

the money they have spent had certainly been well spent.

Amistoq results are an affirmation of our best hopes. Hopefully not too long to wait for a revised JORC on this so a decent NPV can be put on Amitsoq. What I particularly liked about GROCs recent presentation, is the clear and realistic timelines set out. Well done GROC team.

@williteam, yes the visitor centre is a good idea of which I have heard very little. I think Roberts was thinking of one at Gwynfynydd too. Why not put in for outline planning permission for it anyway, it costs little and we'd be one step ahead rather than one step behind.

yes a good price for new investors but a bit on the chilly side for LTH !

Who would put in half a mill ?
a finance house which will flip the shares following sentiment changing news (such as dewatering permit)

however consider two cases that had the placing been done after a dewatering permit decision
case 1 ... permit granted
SP would probably have risen steeply possibly to 0.2s so to raise the same cash then half the shares would have needed to have been issued OR double the capital raised for the same shares issued
case 2 ... permit declined
SP would probably have dropped to 0.08 ish GROC undepinning 0.06p of value at the pre placing shares issued level (now more like 0.03) funds for shaft sinking not needed as secondary target and waste tip being pursued. A placing for futher development could be pursued after bulk sampling of secondary target.

What possible advantage is there in doing a placing at this level ?

If this permit is granted, then I would hope to see the BOD investing in rapid further exploration, it shouldnt be used to "keep the lights on". To that end, all permits that are envisaged over the next two years should be submitted, these processes (within the company's control) cannot be allowed to drag on. There just isnt the slack in the project .

What concerns me is that doing a placing pre dewatering decision shows a total lack of confidence in a favourable outcome.

Why expend the majority of the shares you're authorised to issue when potentially sp rocketing news is imminent.

It's just f**King lazy to pick up the phone and do a placing rather than do an offer to shareholders.

I hope you guys and girls remember this at AGM time, I won't be voting for any resolution that authorises placings as frankly GF has not proven himself sufficiently responsible with such authority.

While I'm on the subject, what's the point in having Henson on the board?