Member Info for elir71

Henson, perhaps she's there to reward her loaded friends with the fruits of our risk and patience, leaving but crumbs for us. I can think of several mechanisms for this.

There's a recent ipo for the above graphite business

@cjmorely
I took it as read that what I meant is that the grade of an ore body cannot be accurately assessed from a core especially when that ore body has "Nuggety" concentrations or the metal. So, in the context of Clogau, then it is inappropriate to extrapolate the recent core results from the previous first equity report.

What is interesting is that the report mentions 127,500 oz of gold, umined, unproven as yet. It mentions assumed grades of 3 g Au /T ore to 13 g Au / T ore, where there is a "cherry picking" opportunity in gold rich pockets. As long as Clogau can pay for the extensive expoloration of the entire Dolgellau gold belt so that it is proven to the standard of being a JORC resource, then far more of the upside is realised.

As long as the POSP works at output levels hoped for 500 bopd then I see nothing of substantial risk, other than finding customers of the Utah project. There are steps ... samples, formulation, installation, demonstration, negotiating commercial agreement but I have every faith that they can be successfully completed.

At this time, I have zero interest in blue skies or green skies projects as we'd never get there if we dont focus on shooting that barn door which is ahead of us.

@BolivianBanks
Totally agree that the valuation of HH is a complete overstatement
though I understand the reports' methods and conventions for valuing Greenland, the reality is that the probability of viable resources is far higher than the discounts applied.

@Turbo ...
You mention grades and drill cores in one sentence.
You cannot ascertain grades from cores

Cash was raised from Bergen placings, so we had cash before the latest placing
Lars Brunner is certainly a strong addition

I don't doubt the gravitas of Elizabeth Henson, however what exactly do you expect her to achieve ?
I'm fed up of platitudes I want to know specific goals that she can be held accountable for.

SHallow marine deposits. Doable with a dredger, if sand for building is viable to be dredged in Bristol Channel I'd imagine Ilmenite is.

"The Company has completed its evaluation of recently received mining quotations and has selected a mining contractor. The mining contract has been executed and the mining contractor has already begun mobilizing equipment to site. After initial work to prepare the site, it is expected that mining of oil sands ore will begin this week." from Petroteq

I'm a bit puzzled, I thought it would be Greenfield that would appoint the mining contractor . Am I missing something.

Nice of Petroteq to keep us informed.

Yes sinkerline .. hadnt thought of that. It would need time to drain sufficiently to below the transportable moisture limit to allow it to be safely shipped with no risk of liquefaction.

Bluejay have assets other that the Duandas Ilmenite in Greenland
In Finland they have three projects mainly nickel copper zinc. Exploration is on extension of existing proven reserves.
So its politically low risk, workable infrastructure with reasonably probable reserves
In Greenland they have the
Duanas Ilmenite adjacent to Alba's resource
Disko-Nuussuaq (‘Disko’) Magmatic Massive Sulphide (‘MMS’) nickel-copper-platinum-cobalt
Kangerluarsuk Zinc-Lead-Silver
Thunderstone Gold and Copper ... early stages of exploration.

Looking at the Ilmenite mine, they have the means to load bulk carriers from there. If we were to JV our resource and share that facility then there would be a need to get our ore over a short stretch of water to the jetty. This could be done by barge and tug requiring loading / offloading either shore, or a conveyor system over that water. If we aren't able to use Bluejays infrastructure for that, then you can use a crane barge (or a bulk carrier with its own cranes) to load a ship at anchor. Ive discharged clay at anchor in Alexandria before. Its possible but rather slow, probably too slow for the volumes we would expect. Perhaps some sort of temporary floating jetty to accomodate conveyors would also be a relatively low cost possibility.

I would also point out that digging it up is one thing, but in such remote areas, then transporting the ore to market is another. However I refer to RNS 8428C which is about Navigational Safety Investigation, which states that it will be safe to export the ore by sea from Bluejay's resource, which, for new investors, is right next to Alba's

The bluejay licence granting does indeed improve Alba's fundamentals, but it may not be reflected in the sp. Is any of Greenland in the sp? The adding of Gwynfynydd even depressed the sp!

If someone gave you a known productive gold mine to explore for a few years, would you feel poorer for it?

The sp far underrepresents the fundamentals

@Nfortch
Flooded mine is a perfectly good title as Llechfraith level is below the natural water table and therefore flooded. Since there are thought to be good grade unworked deposits at that lower level

As the supply chain is local and the sales are also within border then this sort of business should not be affected to the same degree as others by a no deal brexit.

For most of the country, brexit is a disaster. Ive heard "a man in the pub" claim that a retreat from globalisation is "good for british jobs" his reasoning being that import substitution would be good for the economy in terms of job creation. There are few countries for whom self imposed economic isolation would bode well, and UK or any part of it is certainly not on that list.

From natural resources wales
https://naturalresourceswales.gov.uk/about-us/what-we-do/water/metal-mine-water-pollution/?lang=en

Especially interesting is parys mountain, as Anglesey mining are looking to reopen it.

Have a look at scotgolds site, their documentation for environmental reports are on there. When I was in geotechnics the standards were icrcl Dutch standards, but that was in the 1990s. Water that is benign to drink may not even be acceptable due to deoxygenation even!

I'm not saying it's insurmountable, all I'm saying is that it's non trivial. Other heavy metals, particularly copper may be present especially at. Gwynfynydd as its described in the memoir as a copper topped gold mine. If you go through my past posts there's links to the mining memoirs for both mines

It's probably a lot less than soil in my garden in Swansea, but its technically above limits. As I said, not insurmountable, but can't be ignored. If they get clogau operational in 12 months then they will be doing well.

"Benign", that is typical of the dismissive and frankly patronising response that I've had in the past on here.

The process of getting a permit to discharge is lengthy, costly, detailed and fraught with risk. There will doubtless be a requirement for ongoing monitoring and verification of the effaciacy of that. The permission could be withdrawn with no notice. Its probably the greatest regulatory risk the mine has. Less so indeed than the waste rock which is not buried underground

I've stated many times that discharge of mine water is non trivial. Compliance with that is one of the reasons behind suspension of past mining. However, that was a low tech operation and the main reason was low gold prices.

Although flexitowe has seen some congestion with rerouting to other ports, the control of container flow logistics is computer planned and reasonably efficient.

tweet from Petroteq just now
"We're expanding!
After the launch of its first extraction plant in Utah, the Company is now intent on scaling up its capacity with several additional, higher-capacity extraction units within the state. "

Silence from Petroteq ... probably because any info would be highly market sensitve