Member Info for Ella10

The loan note has expired so I would have expected an additional announcement to the market even it it was an extension to the loan note.

This presentation shows they expect between 20-70m of sand cover. Has their been any further on the sand cover?

https://www.youtube.com/watch?v=1tJJ726uzC4&t=2731s

I agree. I think an RNS sometime before 1pm tomorrow. It may be a 7am RNS but if a lot of the team were on holiday today it may be later.

Thanks Keith -seems like a reasonable guestimate and we'll hopefully go a little quicker. I assume once they get the last of the core to surface, if the news is good we will get some sort of indication pretty quickly.

I think we'll start drilling by some stage tomorrow, at the latest. Any views on how long it is likely to take - assuming no major hiccups?

Hi Keith,
Thanks for your interesting post - keep them coming.

You say
'. I do know of one TDEM survey by another company that indicated a body with over 8000 Siemens, which turned out to be dud, so nothing is certain.'

Have you known many projects with over 8000 Siemens conductivity that did get proven when drilled?

Sq52,
The location of the drill is where the 100m intercept of 8g/t gold is :-)

DC,
I agree GLR can do better and as you say a few photos on Twitter would be nice. I think KAV went overboard in order to get their placing away. Any material news should still be provided via RNS because as someone on the XTR board said CB is very good at poker and can appear to have a Royal flush when in fact he only has a pair ... of twos.

Apparently it was soil anomalies of 28ppm Cu that lead to the T3 discovery.

Map
https://www.powermetalresources.com/south-ghanzi-copper-map

Shard did a research note on GLR

It has some interesting info on the KCB

https://galileoresources.com/wp-content/uploads/Shard-Capital-Galileo-12-7-2021-R.pdf

Xeiger,
Fair point about the more concrete value. However, I don't really see us starting serious negotiations with majors on that alone, if the rest of the licences are as prospective as they appear. Perhaps as Andrew suggests an agreement with one of our larger neighbours where the economies of the project might allow for the NSR without too much pain.

KAV should be starting to drill in the KSZ within the next couple of days. They have been PR/tweet mad so it will be interesting to see their rate if progress. I don't think 2 months silence will cut it for the recipients of the placing shares. Their rate of progress, considering delays already encountered, will be interesting as a comparison.

Hi Andrew,
Those are obviously options but I was wondering if there's anything smaller scale closer, with an appropriate set up and conveniently depleted ore. Probably not . To me the open pit mine seems like either PR or an attempt to get AA out of the way rather than an attempt to get them into serious negotiations.

Thanks SQ52. So it could be someone else is interested and this is the quickest way to get rid of the risk that Anglo exercise their buy back? I assume there are no plants nearby that are likely to want the ore?

What would be the benefit of doing a formal JORC after the next 8000m?

Hi F79,
I agree with your statement - not at all pedantic. The point I was trying to make is that we need to start drilling in order to make progress.

Hi Fulmar,

I must say your posts do acheive one thing very well - they make me laugh :-).

Hi SeisNav,

I'm pretty sure I went through all the assay results released since start of drilling last year and they didn't come close to correlating with the even the initial number of metres budgeted.
https://www.lse.co.uk/rns/ARCM/drilling-commences-m77bagawmzeb66j.html

Hi SeisNav,
I agree with most of your arguments with regard to the presence of copper. However, the assay results released to market have been highly filtered.
In addition if you read the following carefully it explains the delay to the AEM survey but not the drilling.
'With regards to the upcoming drilling programme, Arc's drilling contractor is now mobilising its equipment at Fwiji. The horizontal gradient fixed wing magnetic and radiometric airborne survey over the Cheyeza, Muswema and Lumbeta target areas is due to start shortly, following new quarantine regulations recently introduced. In regard to Cheyeza East, initial metallurgical test work in South Africa has recently been completed and is currently being evaluated.'