Member Info for Ella10

There was no mention of anything being present in the core (that I picked up on) that could cause misleading high conductance values - I assume anything of this nature in the core would have been mentioned.
Also the fact that Ben mentions 'not hanging your hat' on the XRF results suggests that he thinks that they are not likely to be disappointing.

I was generally impressed with the interview but am unclear what info we will continue to receive during the drilling program. I can see why they may not wish to release XRF results but I do think they need to continue to ensure that any material info is released in a timely manner.

Does anyone know if down hole EM can give immediate indications for the geologists or does full analysis need to be performed to get any indication? Over what distance does down hole EM work? Just wondering if they would drill another hole based on down hole EM.

I came across the prospectus for African Pioneer placing. The long stop date on the sale of their licences to SFR has been changed to the 30th Sept. Both AFR and GLR sales could complete before the end of August which would meet both long stop dates.

Hi F79,
The irrevocable clause is in relation to the exercise of warrants as a result of them being close to expiry.
'The irrevocable undertaking to exercise the Warrants has been given by Value Generation Limited to mitigate the possibility of Paul Johnson being in possession of price sensitive information prior to the expiry date of the Warrants and unable to exercise the Warrants as a result.'

 

Also, two other POW directors moved shares into pensions and the director options were to be via a tax efficient mechanism. It cost one of the directors over 4% to do the move. POW definitely seem to be expecting the SP to rocket but it could be on any of their projects. KAV haven't been as relentless in trying to ensure the tax efficiency of director dealings and their options have a vesting period. I don't have an investment in POW but it looks like both companies have an interesting week ahead. Here's hoping the KSZ makes KAV the star.

POW are also on the list. Looking POWs last few RNS Paul Johnson was buying shares and exercising warrants last week. The warrant exercise had an irrevocable clause in it as it seemed there was a risk of him being privy to inside info before the 18th Aug. Possibly something related to the Kanye IPO or commencement of DRILLING in the KCB or could be both interviews/announcements unrelated and KAV is results on the KSZ.

...

Lucky,
I was going by the writing on the bag :-).

Does anyone else get the impression from the twitter comments that they are having to drill deeper than 500m?

Lucky,
I don't know but I'm guessing they would only assay core they thought had a chance of adding value. Happy to be corrected.

Hi CRK,
It would give an idea of the metres they thought were worth sending to the assay lab. In my view it matters if they think there was 2m or 500m worth going for assay.

https://mobile.twitter.com/ResourcesXtract/status/1425762733199396868

Does this mean that the bag in the foreground contains samples from 287m for assay? Probably a similar amount in the bag in the background.

Well he can certainly claim the slow - not so sure about the steady :-)

I think the timing is not a coincidence. I haven't figured out if it's a smokescreen or just a genuine attempt to give some benefits for performance. Mike Moles is the only one risking hard cash on the share price. The big discrepancy between the requirements to exercise Ben's and the management options is interesting but is unlikely to have a material effect if they hit what they hope in the next couple of months. If they are still reasonably confident of hitting massive sulphides then Ben's rewards seem very high. I'm not sure how many folk are likely to be in the senior team in Botswana.

Not at all rampy Kully,
You forgot to add that:
The OVERDUE AEM results will be published this week and show that this high % of metals occurs consistently across all licence areas.
The OVERDUE CASA cash will be in the bank by Monday.
The court case(s) which are OVERDUE an update will be thrown out of court today.
We will be told who owns the licences that are no longer in Zamsort's name this week.
The Kalaba licence will magically reappear.
The OVERDUE scoping study will be published tomorrow and show we can be earning billions of £ a MONTH for our copper by the end of the year.
The STUREC royalty conditions will be clarified this afternoon and show we will be paid £100m in 2 months.
The directors will subscribe to £50m worth of shares @ £20 each on Tuesday
All other issues will be clarified before next Wednesday.
A bidding war will conclude on Friday with the result of a £50000000000000000 offer for the companies.
What companies and who owns them are the one thing I can't predict at this stage....

I am expecting gold in first 2 assays on phase 2!

I wonder if we have sufficient access to drill the SE extensions?
I found the following in relation to our other licences but didn't find anything similar for Racecourse.
'Authorised prospecting operations
2. The licence holder must not carry out any prospecting operations, other than those of the following kind: (a) aerial surveys (b) geological and surveying field work that does not involve clearing (as defined below) (c) sampling by hand methods (d) ground-based geophysical surveys that do not involve clearing (e) drilling and activities associated with drilling and the establishment of a drill site that do not involve clearing or excavation (as defined below), other than the minimum necessary to establish a drill site (f) environmental field work that does not involve clearing. For the purposes of (e) above, the following are not permitted: a) side hill excavation for access or drill pads, as would be necessary on steep slopes b) drilling in a watercourse or any stream diversion c) cutting down or pushing over trees d) clearing or excavation for the purpose of obtaining access to drill sites. '

I assume we will get an RNS for hole 10 and possibly hole 9 in the next day or so. It would be good if the RNS put into context what any mineralisation is adding to the overall deposit.

I'm going for a great RNS before 8am tomorrow.

Clever,
Just wondering if the cores you observed in the photo on Twitter had a high metal content? That would be good news!