Member Info for elir71

@fishfaced
please could you pm me, if you can't on here, on the fb group or by direct email which im sure you would easily do from
david dot elir dot evans at gmail dot com

Dundas v Tbs, its not the passage of time, but the substantial capex on fieldwork that's the difference between the two.

It might be an interesting exercise to trawl through Jay's RNSs to work out how much capex has been made at dundas

OK rather than "lent", bought a 10% share in the resource
nothing like having commerical production .... initially run through the posp
i think it makes other projects a lot more likely to get off the blocks

would you support an offer to fund that ? I'd be up for it

the share is rather easily manipulated at present

just thinking out aloud .... what if QFI lent them the US$1.7M on condition they use MSAR process on which royalties would be received

If I were at the Tomco AGM (with my Tomco shareholder hat on) then I would certainly be asking questions about msar

If anyone is going to today's agm, could they let us know about any questions and answers re msar

Come on, let's be having the results from qfi testing

Although the Greenland assets are being sold at a discount to the value as analysed by the first equity report, remember alba are still majority shareholder. Nevertheless alba has paid for this year's exploration. For whatever reason, it seems more attractive to investors to have a pure Greenland play, so it's another example of the disconnect between market value and fundamental value. I find it interesting than Henson isn't moving on to greenroc board, as it is likely greenroc will need substantially more capraises than alba over the coming years.

19 MT ore
8.90% Ilmenite grade
1.691 MT Ilmenite

12 years mine life
NPV to equity val factor 50%
Contained Ilmenite
Dundas (Bluejay) 7.1 MT
TBS (Alba) 1.7 MT

Dundas NPV min US$ 83.1 source FERN
Dundas NPV max US$ 130.7

TBS NPV min US$ 19.8971831
TBS NPV max US$ 31.2943662
£ / $ 0.750
TBS NPV min £7,461,444
TBS NPV mid £11,735,387
TBS NPV max £17,603,081

There was my method for valuing it at the turn of the year

I'm expecting x3 the quantity to be confirmed when the TBS drill results are out

@degsie
id wait until the tbs drilling is complete then compare the amount on ilmenite to that of dundas
take into account capex
compare to dundas

OPtions for £3M capraise are ....
1. Plain private placing, which their articles of association allow them to do £1.2M was raised last winter when sentiment was high, 6x less costly in shares than Bergen
2. Open Offer
3. Pre Emptive offer
4. Sale of assets (Horse Hill ???)
5. Sale of some Greenroc shares
6. Loans against forward production / Preference shares (technically loans)

Any combination of the above

yes so have I, indeed it is a bit of a pain the non ISA part of it
However primary bid doesnt cover every new offer and didnt cover this one.

It seems fully subscribed

@Glasir I dont believe that primary bid participation is available to PIs
Cheapest Greenroc shares you can get is by buying some Alba

WIth respect to Greenland asset development, then take Bluejay as a guide. Again something ive answered. Im sure a PEA / scoping study will put a more accurate figure on TBS and Amistoq. Others are at too early a stage of development to have any confidence in estimates

MR008 - Ive answered that question many times
£3M for a high degree of certainty to self sustainability
Timescale 18 months

only one MM now selling at 0.27 , the other requoted 20 mins ago

@ian67
I'd expect a lockin period for alba, so alba couldn't sell greenroc shares during that period. Its normal under these circumstances. The sale of those assets, or part sale, would be at the discretion of the board. No extraordinary resolution would be required

@parmz
Thank you for explaining that

Is there any reason why tomco can't mine their existing leases on a commercial basis?