Member Info for Ella10

Hi CE,
I can see your reasoning but I didn't think the strike length had all been previously drilled to 600m and I don't think the previous average width was as much as 250m? I do agree using max measurements from the drills is optimistic for getting total resource size.
I am pleased the assay results proved the copper content but am disappointed we didn't hit a decent splash of gold.

Hi HD,
He could well put both together. I would also hope to see an indication of the spending on the last survey,and the expected budget for the additional survey and the drilling program, in order to know how quickly any funds we have are diminishing.

Hi HD,
I would expect to see an RNS for results of the survey before either launching into another survey or starting to drill. Although an RNS containing updates for the sale of licences may come before any of these.

Hi CastIron,
Be careful suggesting that Ka****u and JLP would be good match from memory that can instigate severe reactions.... I would be tempted to see if I could find Ka****u only for this darned lockdown :-).

Is this price action due to the single share trade this PM?

Hi CE,
Empress Royalty deal is with MMP and not XTR which seems strange in itself. I Hope another SZ is not on the way. Does MMP still have an interest in GF? The tech report does mention the other resources which you quoted but I'm not sure how this ties up with the royalty agreement being with MMP and another company mining GF.

RNS should have said EmpressRoyalty website

LittleWing,

From Empress Royalty website
'Payments to Empress under the Royalty Agreement are based on 2.25% of the revenues generated from the sale of gold from the Project until a total of 95,000 oz of gold have been sold. Thereafter, the percentage shall reduce to 0.75% and shall continue into perpetutity.'
I think the 3 year mine plan may be an error in the presentation - it's not in the technical report or the RNS that I could see. I might just email them to see if any more info is forthcoming.

Hi Andrew,
I agree that Empress Royalty should be quite rigorous in their assessment. The reason the technical report for Fair Bride on the Sedar website was issued was to comply with the requirements for National Instrument 43-101.
I found the 3 year mine plan stated in both the video James posted and the one you posted a bit surprising.

DrAim,
I don't believe we ever had confirmation of when hole 1 was sent to the assay lab and the following is from the 12th Feb RNS
'Core logging and sampling is progressing satisfactorily on the first two holes of the programme, with sample batches being dispatched to the assay laboratory for copper, gold and multi-element analysis.'

This new Share issue looks like tje one relevant to TIR.
https://www.sandfire.com.au/site/PDF/0d7552a7-0cb5-4467-8984-370e40ddab5c/ProposedissueofSecuritiesSFR

Do you think he'd answer the phone?

Hi Doog,

On 6th Feb at about 6mins in he refers to having a 'perfect model' in 6 weeks. So shouldn't be too far away IF that still stands. I can't see that being the case but I guess we will soon find out

https://twitter.com/ShareTalkNews/status/1358072064750608385?s=20

:-)

I think it's in Zambia?

The assay results for hole 1 expected this week will be good. From the hole 1 geochemical analysis RNS:
"Colin Bird, Executive Chairman said: "We are very pleased with the initial outcome from the first hole of the Phase One Programme at the Racecourse Mineral Resource. Hole BRDD-20-001 has extended the copper mineralisation 330m beyond the current boundary of the Inferred Mineral Resource, which is very encouraging for our objective of significantly increasing the Racecourse Mineral Resource. The data from the handheld XRF indicates that copper mineralisation occurs over a downhole depth of 905m with copper grades ranging from 0.2 to 0.5% Cu. We will now verify the XRF results using traditional geochemical analysis, which will also give us the gold values. However, the initial indications are that the new intersection in hole BRDD-20-001 compares very favourably to recent intersections from Alkane's new Boda discovery, which also occurs within the Lachlan Fold Belt in New South Wales and is located approximately 170km NNW of our Bushranger Project. "

Billy,
It's not always a good idea to reveal all the cards you hold. :-)

Because I think it will... :-)

Interesting. I haven't digested all the info but certainly supports the SFR share issue being for TIR and GLR. I had looked at TIR when trying to understand the SFR share issue but it obviously wasn't in the public domain then.

MMP has a 2 year option to buy which ends in May - is there any chance they would be a buyer. Assuming this fundraise is legit it seems a bit odd as MMP don't own Fair Bride. US$2m wouldn't go very far and is probably just to finance plant completion but it did make me wonder. I have no idea what MMPs finances are like.

If you open the report on Sedar.com referenced below it has a map of mining concession 3990c. Alternatively the Mozambique mining cadastre should help if you search for 3990C.
https://portals.landfolio.com/mozambique/en/