Member Info for elir71

Does society care ?
as individuals tackling problems that require the bulk of people to act together ? no, or at least very few
as people acting collectively or at least forced to through legislation ? yes

after all, how many people retro fitted catalytic converters to their cars before they became standard ?

All the pieces have come together for XSG ... a nice steady path to self sustainability, most effective products, interest from big investors.

The real downs on fundamentals since I did a piece around January are

HH... Yields from new vertical Wells and timescales
Greenland... Less amiable government
Clogau... Delays suspicion on motives of bulk samples

The ups are
Addition of Gwynfynydd
New quartz structures at Clogau
Favourable analysis of graphite
Similar bluejay project to tbs found takeoff agreement and finance

I doubt you'd make worktops out of this, but yes, quartz is used to make special metals, I've carried it from a corunna to thamshavn where there's a demand for it and graphite electrodes too

I've previously posted the map showing various mineral licences in Greenland

I'm also invested in Bluejay, Jay who have a similar nearby project, but with exploration licence, finance to develop, JV in place with RIO and a rudimentary terminal.

Despite all of this, Jay shares have taken a battering, especially with the new less mining friendly government. I've no doubt of the existing and high probable greater resources at TBS and hope that this year's exploration season will prove all of this up.

My concerns are that following a successful exploration phase that the Greenlandic govt decline to grant an exploitation licence. I've every faith in Lars Brunner, however he'd be swimming against a political tide potentially.

Is there a compulsion on the Greenland govt to grant an exploitation licence to exploration licence holders? Does anyone know?

Re manky old 36t

The August 20 rns placed far higher gravitas to their value than "manky"

I'd point out that not only samples from the floor were taken, but samples from cutting into unmined ore bodies.

In any case, as you are clearly in an apologist mood, explain away the 6 months the samples have been sitting there. They could have been sent to cambourne

I hear talk of pr

What I want is some transparency....
Process that 36t immediately get is assayed without delay and publish the result

Tell us how much is in the kitty and what is budgeted per project for given timescales

Clear transparent honest information not spin, not delays.

Then and only then will the market move positively to much good news which is being ignored.

GF needs to stop listening to whoever told him that delaying the sep Oct 2020 collected bulk samples was a good idea

@luckybob
In answer to... What would you do?

Process the Sept Oct bulk samples and publish the results.

Drill for structure
Bulk assay for grade

@Hotfinance
So, am I right in saying that the labwork at QRF should be completed by second half of May, at about the same time as the FEED ? Late May - June - early July could be a very exciting time

@Anglesey
As I understand, this exercise won't be crushing larger rocks, only sieving out the finer fractions and processing them.
Even Romano British gold mines had crushers (of the enslaved variety)

Had I been a miner in the 19th century, driving an adit following a vein of gold then would I have discarded the ore I was following or the barren rock around it. OK, I accept exploring the tip is cheap, but I can think of better material to chuck in the processing plant

@jdavo.whereas some of the 36t was collected from debris fallen from lode areas to the roadway floor, I distinctly remember a machine gnawing away at the quartz vein.

I really hope this rns isn't designed to keep the sp down to provide cheap entry to hensons clients.

Further, I would put more credence onto August's rns as opposed to today's in terms of statements regarding the purpose of the Sept Oct bulk samples

I reluctantly reduced my holding a few mins ago

I'm still sticking to my current fundamental valuation of. 7 to. 9 p

However I don't expect that to be reflected in the sp for a long time. Its understandable that people have been reducing holdings as there is little reason to believe there will be any movement for some months and people have other opportunities they may miss out on.

Reasons for closure before. Low gold price, low tech pick and shovel operation. Atnew rules re dewatering required an expertise in environmental impact reporting that they were disinclined to do

14 aug 2020 rns :

"Bulk Sampling

The upcoming work at the Mine will be focused on extracting several bulk samples from target areas within the existing mine development. As the gold at Clogau is highly nuggety and contained in narrow quartz veins, bulk sampling is typically deployed in order to obtain a representative idea of gold content across a particular vein or zone.

The bulk sampling exercise will be undertaken in conjunction with the underground rock chip sampling, channel sampling and drilling programmes. The Company will look to extract several tonnes of material from each of a number of target zones.

This work is directly aimed at identifying unexploited gold zones and known payshoot extensions within the Mine which will support a decision to reopen the Mine for long-term commercial production."

It certainly does not say.... We're just collecting random stuff to test out the pilot plant

Greenfield are adding the new equipment this week as I understand. They've been running ore from the 10000bopd source, however I believe that the petroteq source will be the first to be demonstrated and exploited. I'm guessing it will be 3 to 4 weeks until Greenfield dispatch a sample so six to seven weeks until qrf test completes start of June. On site demo June July.

Am I right in estimating that's when the lono trials will start?

Mcap = SP Xshares issued

My concern with the low in relation to fundamental value sp, is the cost to existing shareholders of future placings. Without some idea of budgets of exploration then its difficult to quantify the new capital that is required from placings. This is compounded by the low sp, which is fast making a low sp a self fulfilling prophesy.

Why don't I buy more shares now? Fear of placings at low sp.... Which dampens demand and keeps sp low.

The bods attempts at playing down emphasis on gold assay results further adds to fear and saps demand as it may be seen as... As you put it.... Expectations management.

.. true however oil from HH and gold from clogau can reduce or eliminate the need for placings, by funding the exploration of other and future projects

The fact that there is a disconnect between sp and fundamental value at present is not a confirmation that the fundamentals are irrelevant. A company will never become profitable without good fundamentals

The disadvantage of holding back the asaay results is that any good news before their release is squandered, in terms of sentiment and share price impact

about metals for EV batteries