Member Info for elir71

@cjmorely
This is why, I think it would be desirable for there to be an investormeet company type online event (as shareholders meetings are impractical under the circumstances), where questions can be put to the board for clarification as opposed to investors passively observing presentations. Don't get me wrong, I think the company;s presentations are excellent, but sometimes its worth having Q&A sessions for effective communication and clarification. It's not about "nailing the board", its about clarity and transparency.

Holders of exploration leases are obliged to conduct a certain value of exploration to keep their licence. If it comes to pass successfully, probably 3 years down the line from now then it should be possible to sell on to glencoe, the major player in the area. A half million t of zinc in the ground but proven should get 3million out of glecore, comparable with group 11 deal

Anglesey and Tomco

Explosive revelation

Questions ... when I ask questions of someone, in a holding to account capacity, I like to have the advantage over the interviewee over what the questions are. I mostly like to know the answers to those questions in advance.

@Kellbelle
Slipperyness ...
* the final modules of the processing plant arrived after a time that the impression was given that it was all there
some time before
* assay results ... non commital on time and procedure
* cheeky little placing done before xmas

Its leading me down the line of wanting some investormeetcompany style interaction, where the BOD are asked Qs by investors and prospective investors. I can't help but notice that the BOD like to stage their appearances , where tricky questions can be avoided.

steps before production (bear in mind that gold recovered in exploration phase can be sold less 4% royalty to crown estates)
dewater lower levels
continued drilling for structure
more bulk sampling particularly lechfraith (300 T of bulk samples should yield near 350k in revenue) covers all non exploration oheads.
planning application
planning response
address planning stipulations ... inc environmental studies and reports
H&S then you can produce

GF has stated they intend to reach this this year 2021. My feeling that that is very optimistic, however, in all fairness to GF, he's not known for making throwaway off the cuff remarks so unless it becomes otherwise apparent , then I'm taking it at face value.

best thing they can do, since pretty pictures and slick videos seem to affect the SP more than hard figures, it to knock up golden productions for another youtube vid showing the actual gold being extracted and produced

im peeved they held on to the 36 T in the first place, that should be straight down to Cornwall if they didnt have the kit already in hand. I'm learning not to assume too much with some of the announcements as some have had a rather slippery nature. I would hope that the company would have some questions and answers sessions ... like meet the investor.

So really quite a bit of time and sentiment was wasted over the past two months.

on the subject of PR , sentiment etc then I suspect that a nice video showing some gold being poured will snatch a bit of attention.

I'm to technical analyst, however one that I am aquainted with stated recently that the SP would need to break 0.64, then it would re rate to a totally different level more around the 1p mark

@vicjain
it good fundamental news, however there has been a disconnect between fundamental news and SP movement
it seems that coverage seems to have a more pronounced impact than facts
bull**** baffles brains

concentrate it crushed ground ore ref https://en.wikipedia.org/wiki/Ore_concentrate#:~:text=Ore%20concentrate%2C%20dressed%20ore%20or,thus%20concentrating%20the%20metal%20component.

there is no point in crushing the host rock (which is not expected to contain significant gold). It is only disturbed to gain access to ore bodies. The thicker the veins the more efficient that process is.

what we are looking today is how much gold is contained within a given mass of crushed up ore. As with all sampling then statistics could be used to get a confidence limit of how representative the sample is of the "population", ie the total ore body to be mined. The cost of mining the host rock (i.e. the non gold bearing shale that the veins were deposited in) is accounted for in the cost of production.

@Mr008
I would point out that Scotgold currently mine at 11 g Au / T
and most South African miners mine at 5 g Au / T
http://www.scielo.org.za/scielo.php?script=sci_arttext&pid=S2225-62532016000300014#f04

I know you'll appreciate this, as you've such a reputation for meticulous analysis and thoroughly well argued assertions

It may not be a formal assay result (as that can be knocked out in house now), but that is a bit of a foregone conclusion now. Its a bit like in the last few minutes of a rugby game your side scores a try, but you need it converted to win ...... and up walks Neil Jenkins

as i now understand it, from the rns then the on site pilot plant will process the 36t
bear in mind that 17 g Au / T was achieved using chase the vein with a pickaxe techniques not so long ago

revised valuation in light of limerick and 20 g Au / T
https://docs.google.com/document/d/1xxuXY7-LZ-u78JtnD_llFt5vsEBA5eMThJcBj58Ck_g/edit?usp=sharing

if only a small sample was dispatched to cornwall, then why has it taken two months to get it back ?

I had understood that the 36 T would be sent in their entirety to independent lab, Now from the below it looks like its going to be done in house instead, with some validation done independently.

"Final minor adjustments and tests are being carried out in respect of the Company's pilot gold processing plant, and the Company accordingly expects to be able to commence processing the ~36 tonne bulk sample collected in September-October 2020 in the week commencing 11 January 2021."

From this, and the production rate of the pilot plant, then is it not unreasonable for them to process that lot next week ?

20 g Au / T .... almost double what they have at Scotgold

@MineC
Does Limerick change valuation .. ?
Yes it does, as it was an unknown to me if the licence was renewed
A very cautious approach would be to value it on the expense spent on it so far
A (in 12 months time valuation) could be based on a spectrum of potential grades and comparables for the similar projects in the area.

So as it stands, it hardly makes a dent in the current valuation as little has been spent on it, however ive consistently taken a conservative approach to the current valuation. I'll amend the valuation on a guesstimate of the resource based on the valuation of comparable and a x0.333 factor for pre proven as I've done with the other resources.

Assuming all goes well and the POSP500 is producing MSAR product and there is decent demand
(obviously containsing a fair amount of uncertainty at this moment in time)

How do we see Greenfield raising the US$180M for the bigger scale (x20) plant ? I'm happy with the expected returns especially the remarkable payback period, nevertheless I can't see a bank financing it with a straight secured loan , as they would bear all of the risk. WOuld it be a third party joint venture ? if so, how much do you think Greenfield would be left with ? Would it be a straight takeover by a major ? if so , would the NPV of the project x a PE ratio be a reasonable valuation ? If so, what about the other tomco leases ?