Member Info for elir71

Greenfield update out

April 2021
Greenland is closed to regular passenger traffic into the country until May 2, 2021. Until then, only travelers approved by the authorities will be able to enter the country. There are no restrictions on passenger traffic out of the country during the same period.
[ https://www.greenland-travel.com/covid-19/ ]

not long to go

In response to those who intimated that the Sept Oct bulk samples were simply sweepings from the floor of the mine, I came accross this short video https://www.youtube.com/watch?v=k5hRUqdUnb4

@TullyCrow
When I looked before close one MM offering at 0.29 most of the others 0.30
On the bid plenty at 0.25

Topped up early trading at 0.27 quite happy with that. Spreads widened since then

I believe the company has enough going forward until self sustainability, except for cases where some new project requires some finance. I think the days of the Bergen bargain bucket placings are well behind us, especially with the success of the last open offer

Its difficult to tell, however, I think the next three weeks or so with have plenty of news

In all fairness qfi are waiting on greenfield

@montyncgee
Discharge permit out of our hands
Dewater 2 - 3 weeks
Probably bulk sample llechfraith lowest current level 4 - 8 weeks
Sink shaft below llechfraith current workings 3 months
Drive adit bulk sampling as you go 3 months

2-4 g Au / T is what you'd expect in a mine which it mining a body which formed from deposits that were layed down alluvially .. i.e. the original structure which contains the gold is eroded (with the gold) into a matrix of other rocks. In SA this can be at considerable depths with a substantial cost of extraction.

"The current operating depth at the Mponeng mine ranges from 3.16km to 3.84km, while the future mining is expected to further deepen the shaft bottom to 4.22km below the surface."

At Clogau we're expecting depths in the order of 100m or 40 times shallower, so the cost of extraction is in fact very low

As we are not looking at an alluvial deposit at Clogau, then we would not expect the gold to be evenly spread throughout the ore body. Very high gold concentrations have been found at Llechfraith in distinct zones (generally going up and down the dip of the vein) in past mining. I have written many times about how and why drill cores cannot be used to infer ore body grade. Its there to determine the structure and presence of gold. I would firmly expect very high concentrations to be found in distinct zones, which are only going to be encountered through bulk sampling.

Its a bit like skewering a fruit cake in the hope of finding cherries. If that skewer smells of cherries, then there's cherries in the cake. Time to eat the cake

"this is against common sense" = 'this is contrary to my misheld beliefs on the geology of the Harlech dome and the precipitation of heavy metals in a hydrothermal context'

Congratulations on spelling 'visible' correctly

We've one season to prove up amistoq, so won't be paid for from gold income, but once proven then other finance streams will very likely become apparent. EV manufacturers for example

Beware derampers trying to part you from your undervalued shares. They're deramping to buy them on the cheap. Hold for gold, more to come

Excellent news. Grades for the ore body cannot be extrapolated from cores. I've posted a paper on this month's ago on the fb investors group.

asssays dont take months, they take 2-3 weeks, as I said in october 2020 and as GF said in the last broadcast

anyway, moving on from that ... the directors may not be allowed to purchase shares at present as they would almost certainly be in possession of "inside knowledge", like the content of the annual accounts or possibly sackfulls of nuggets found in the tip.

@ian67
"what we want is a fair crack of the whip, ... involve current shareholders"

I couldn't agree with you more.

Do you know that the board of Alba's authority to issue new shares in placings and separately the authority to suspend pre emption rights of shareholders expires at the conclusion of the forth coming AGM ?

Do you know that if Alba's bod needs to extend those authorities (giving bargain basement placings to the likes of Bergen), then they will have to win shareholder's approval for that ?

Did you also know that only 10% of votes eligible to be cast, were actually cast in last year's AGM ?

What I've assumed for tbs is the same grid pattern but with sonic rigs drilling to 20m from surface which I belive takes you to sea level. Any comments on that?

Amistoq is my greatest unknown, can anyone enlighten me with respect to how much further expiration needed for Jorc.

As for early income stream I think driving an exploration adit along the main lode extension, as hopefully confirmed by current phase 2 drilling should provide significant ore

@buysell.. Do you think we'll get an income stream before Greenland exploration.?

@Yanis I'll talk about whatever I want, you don't have t read what I write. If you think we've enough funds, fine, which part of my figures do you disagree with, better still, post your own figures demonstrating why you think there's no need for a placing. Greenland may open up in weeks... The exploration season at Tbs is short, the exploration needs to happen.

https://docs.google.com/spreadsheets/d/1BUkYp2OWPTU25YZPe0qSHG7X0x3dBFVsZlW4zlKa1L4/edit?usp=sharing

These are the fag packet numbers I came up . I think that unless there was plenty of cash before the last placing (the good one), then there will be a need to raise up to £800k to pay for Greenland exploration (if the travel restrictions are lifted). With the remaining shares numbering 415,522,957 available to be issued then that would be at 0.192p about the time that Greenland gets underway. Now that's a bargain basement for someone ... especially if good results come from Clogau in the following days.