Member Info for elir71

@copland these guys ?
https://herenciaresources.com/

I always thought the royalty on the MSAR process would be a %age of the uplift in value from what the POSP produces per unit energy to the value per unit energy of the MSAR product . That way it is a win win for all parties.

What specifically would you like him to do differently ?

At present we have uncertainties which impede the case for new investors to buy in numbers. To name some
1. dewatering permit
2. details of the IPO, which in many ways redefines the value of repositioning of ALBA with respect to the Greenland assets
3. whether ongoing funding will be by discounted private placing, or will existing shareholders be party to open offers
4. Horse hill ... I'd prefer to have timescales attached to their work

What would I prefer to see from GF ? Self imposed timescales including provision for the unexpected and timely reporting as soon as it becomes apparent that programmes start to slip. I can understand his frustration with the GL assets being seemingly undervalued by the market, but I sense a reluctance to broadcast "bad" news. Personally I welcome a transparent timely flow of information. Perhaps a discovery style, youtube video, 20 mins long may serve as a useful source of information to tentative investors.

@MontyMcGree ... I don't think the 0.55p of last december was a fundamental overvaluation. I looked into it at the time. I thought the Greenland assets were hugely undervalued and Horse Hill and Brokeham overvalued. With a good value placing being made and demonstrated in December I had judegd the company to be in good order, (for a prerevenue AIM company).

I think part of the "spike" was a lot of short term investors coming in to the share hoping to ride a significant rise based on assay results. However that did not transpire, and it later emerged that the pilot plant wasnt operational at that time. So a lot of very short term holders moved out, and the short spreadbetters moved in. Incredibly on the day that it was announced that we had an exploration licence for Gwynfynydd, the SP dropped 12% ... that was the second most productive gold mine of the time. So there is clearly a disconnect between the market valuation and (my view) of the fundamental value. So if the SP drops on a day that the only significant news is the addition of a gold mine, then I draw the conclusion of a somewhat dysfunctional market.... Still ... thats a buying opportunity for us

Alhtough I think that some more parallel exploration could be happening , there's a lot of unsensational meticulous work going on which should be respected as both necessary , desirable and consistent with the company's stated methodology. Really, we need to attract investors whose investment horizon is a bit futher than a week or two.

I think there is a lot to be said for welsh gold bullion coin that is legal currency (no VAT no capital gains tax) with perhaps a blockchain behind it to ensure provenance whilst maintaining anonymity. That should preserve a premium and prevent forgery through striking fake welsh bullion with melted down kruggerands.

Ultimately it would also be advantageous to put strict conditions onto the jewellers activities, very much like the diamond supply is strictly controlled in London, each jeweller having an "allocation", which is partly dependent on the conformance of each jeweller. As such, it would also be to our advantage to deal soley with smaller very high quality craftsman / craftswoman type jewellers within Wales. Firstly to distinguish the end product from the "bland bling brand of the tasteless nouveau riche" and secondly because our negotiating position would be stronger with a number of smaller (divided) parties than one strong global brand. The condition on 100% welsh gold product should increase the consumption of the product, maintaining its scarcity. I'd certainly steer well away from cultural cliches.

Obviously taste is highly individual, but I like Rhiannon's work and Aur Cymru's

Dim bling !

Market makers have not moved their prices since just before the start of trading so unless you make some inference on the back of a tiny volume of trade then nothing has changed market wise as the cost of buying and selling remains the same as at 0800 today. The apparent movement in prices is just trading between the bid and offer spread. I dont know what algorithms the sites use to determine the mid price, but given the ineffectual discrimination between buy and sell then again, it is inappropriate to put too much weight on such "movements".

I suspect there are new investors waiting on the sidelines for news such as the dewatering permit. You may even get lucky if the permit is granted intra day, as you may be able to buy in before the market makers cotton on. Otherwise, they'll probably rerate their prices at open .

The bulk samples taken in Sept Oct were recently processed and the results of the concentrate produced and tailings produced were published in an RNS. It demonstrated that the pilot plant as configured recovers as much as you could possibly hope for.

Currently we are awaiting the results from the fines from the spoil heap that have been recently taken. They were due mid May. Whereas it would not be an indication of the grade you could expect from mining fresh material, the cost of getting it to the processing plant and processing it is minimal (excavator .... tipper .... repeat) so even if the grade is low in comparison to what you'd expect from the mine, it may still be worth doing and may provide for an early cashflow opportunity, though, limited in extent. I'm personally not that optimistic , because the spoil heap that they are taking it from is largely arisings from a cross cut adit, which would mainly be through barren rock, nevertheless it is still a useful exercise, since, if it works out, suggests that other spoil heaps, readily apparent on the county series ordnance survey maps may also yield some profitable processing at minimal cost.

@degsie, I would hope that the valuation is a reflection of the jorcd amitsoq and (re)jorcd TBS. I'm supportive of the spinoff as long as its a reasonable reflection of the value after this seasons exploration as opposed to before this seasons exploration, because Alba alone bears the cost of that exploration.

In fact, looking many years down the line, would it not make sense once new targets have been explored (thoroughly drilled) to grant "exploitation subleases" (I dont even know if that's legal) to private companies to bear the cost / risk / reward of exploitation on the condition that gold extracted is all sold to Alba at a predefined multiple to spot. Furthermore I think ALBA should be looking to supply jewellers who would be contractually obliged to make only 100% welsh gold products as opposed to 5% welsh gold products. I think Aur Cymru do 100% welsh gold products at present, Im not sure of the others.

The only prices that really have any meaning is when market makers move their prices, which, lately they dont do that often. There is nothing to infer from "price changes" due to a small number of low volume trades, nor would I pay too much attention to "red" "blue" as reported.

For any new or tentative investors there's an investors' fb group out there.

The past miners did not drill ahead, they drove a level starting on outcrops of mineralised veins, then followed the vein in, deviating laterally to follow the vein, then mining stopes upwards from those levels, again following the sheet of quartz veining. They'd pay specical attention to those areas with visible gold as a priority. If there were veins parallel to the one they followed, then they missed it. If the vein deviated abruptly due to a fault, they missed it. If they couldnt sink a shaft because they lacked reliable pumps to drain their shafts, then they didnt mine it if if wasnt free draining.

By looking ahead using the methodical exploration that ALBA are currently doing, then all these uncertainties are taken out of the equation. Does is change the gold content of what's down there ? no, of course not, does it mean that exploitation of what is down there is more efficient, yes.

Get your heads around the idea that this is exploration phase, not exploitation. If you are uncomfortable with that, then perhaps you should sell up and re enter when the exploration is complete. Once Llechfraith is drained, I suspect you wont have to wait too long for a good grade sample. I hope the company does not delay its processing and publishing.

Ive said for months that the dewatering permit is critical.

Didnt Jason mention it in a video ? I think it was somehting like 20 T

What is the situation with respect to horse hill now ? Is it back in production ?

I sold tom too, my thinking being that some considerable dilution would be needed to pay their share of the two new plants.

Small top up just now at 12:59:19 0.2589
shows as read because the site takes a tradeprice of less than the mid price as a sell.

Yes an MSc student I believe. Must be a dream of a project, but I'd imagine the fieldwork would be conducted in the summer months after some desk study then the fieldwork followed by writing up the thesis. It would be rather ambitious for him or her to have covered any more than a pilot area given the time constraints. I think it better at this stage to prove the concept in a concentrated area before rolling out a wider programme. I can certainly think of worse ways of spending fieldwork time in geology.

I don't doubt that samples "can be" sent to QRF, however, the question is, have they ? and if not will they ?

@Eddy
I'd look at Clogau, Gwynfynydd and the wide DGB as separate projects
Firstly Clogau, with its existing and renovated infrastructure is being drilled both from surface and undergound to identify stuctures of potentially gold bearing ore. Some surface trenching has also been done (following soil sampling) to identify and expose outcrops of quartz which may be hidden by some superficial deposits. Then there will be a programme of bulk sampling , some from unworked areas which will require the driving of some trial adits and sinking of trial shafts. from the existing workings. At Llechfraith, the most recently worked areas then there may be some workable reserves accessible immediately upon dewatering. Other target areas will be below Llechfraith lower workings and below the Jack Williams. A trial adit could also be driven into the main lode extension from existing workings. These trial adits would, if successful become production adits. These bulk samples are necessary to prove the ore grade. A preliminary economic assessment would then follow, which, given the work being put in now, would define a probable reserve.

I expect the first of the bulk samples , from existing lower workings Llechfraith in the late autumn. What lies on the critical path of this is the dewatering permit. Whereas the permit is now outside ALBA's control, if it is not granted, then we have a big problem as "bulk exploration" and subsequent exploitation would only be possible in areas which are already free draining. However, given that there ano objections from public consultations and Dwr Cymru, then I remain optimistic that it will be granted, however the timescales of progress might be glacial. What will be within ALBAs control is the urgency with which the bulk samples from the (then) dewatered areas are collected , processed and reported. I'd hope for no excuses , no delays and a complete set of results within days as opposed to months, as all the necessary resources are on site and within their control.

A similar method will be employed no doubt at Gwynfynydd, which I would hope, following a successful exploration of Clogau St Davids, would enjoy the full confidence of shareholders.

The wider DGB is a broader project , initially a desk study, reviewing all available information, including aeromagnetic survey information. Then I would expect a programme of soil sampling / trial trenching, existing workings mapping, drilling etc. This is at a far eariler stage, however, when I had a glance over the old OS maps, I was surprised at the amount of workings that had already occured.

This isn't a day trader's share, it is for the patient who believe that the rewards of the possibility of a working gold mine outweigh the risks (world gold price, presence of workable reserves, regulatory risks, funding availability, dilution risks). All we can ask of the BOD is to be responsible, methodical, transparent and timely in their actions.

212 is dreadful like that as I write real market makers are willing to sell 750,000 shares at 0.27p

you need to ask yourself the question using 212, what if i needed to sell shares in a hurry ? Even if there are market makers out there providing liquidity it is as if 212 are holding their own internal market. ..

Really , unless

All that is reported from the market is a trade, its price and volume and whether its an ordinary trade, auto trade, uncrossing etc. It is the sites that make a judgement on whether it is an investor buy or investor sell, with reference to the quoted prices at the time. I'd disregard the buy sell indications as they are not accurate. However, it is the sites such as this at add that label.

There is an argument that the only thing that matters is the quotes being made by market makers, for how many and the variation in such. If mm have a wide range of asks, then a relatively small volume of investor buys will deplete the holdings of the cheapest market maker and move on to the next market maker. The wider the gaps between each then the steepr the price will rise for a given volume. Level 2 is quite useful for frequentish traders.

I'd also point out that the economic cut off grades for the spoil heap material would be substantially lower than for mined ore, because the cost of getting the spoil material to the processing plant is very low. basically a small backacter and dumper truck would probably do.

If ((Cost of feed to plant + cost of running plant + cost of refining concentrate)