Member Info for Ella10

Howezap - we hope! The other tenements aren't subject to the same buyout clause as Racecourse. If AA were to buy Racecourse I would still expect them to be interested in the other tenements if they are showing promise, however we would be under no obligation to sell to them.

Hi Fulmar,
I am probably anticipating the assays more eagerly than you. Do you think the assay lab on page 11 of the research note is where the cores are being sent to?

I originally bought in at just under 2p (I think) at the very start of the year. I sold some at 8.5p (by sheer luck) and bought more on the way down so the price isn't hurting me the same as it is some, but it would be good to see it higher! That diagram that Iceberg posted, together with the last interview and drilling results, really show the scale of the Racecourse licence.

I'm not convinced AA is the most likely candidate for Racecourse but the NSR in their favour will have an effect. If AA did want to exercise the buyback would they not also want any other licences we have in the area that also showed promise? I'm not suggesting we are obliged to sell but if a company as large as AA were setting up a new operation I would expect them to want as much potential for growth as possible The April 2020 presentation show an annual expenditure commitment split across all the licences but I'm not sure if that made it into the contract. I don't think we have any drill ready targets so I wonder what our next steps on the other licences will be.

Hi Fulmar,
I thought Nick's summary of the ~6.5m of mineralisation covered it nicely
'This is the most significant copper sulphide discovery since we started drilling four years ago. '

The big question is will we get another RNS before the results...
The report should be interesting reading and hopefully include a post period end update and cover the following
- The Kalaba plant lease that was apparently signed in May 2020 and was/is the subject of the court case.
- What has happened to the Kalaba mining licence that has disappeared from the cadastre.
- The status of the third attempt to sell CASA mining and what the current related liabilities are. Golden Square Equity Partners' confirmation statement is outstanding at Companies House.
- Post period end update summarising the status of the various court cases.
- Comprehensive Status of our financial position at the end of December and one would hope a summary of the current financial position.

Hi News,
I agree, there does seem to have been some confusion. For the avoidance of doubt, I was discussing the term 'Massive COPPER Sulphide' and not 'Massive Sulphide'. To me the term 'Massive Copper Sulphide' implies that the majority of the rock is copper sulphide, which as far as I can tell would be quite unusual. I am not a geologist and PGE_Geo has explained how the terms may have been used where they don't mean the majority of rock is copper sulphide (or at least the rock shown in the photos). I hope that helps.

Thanks for your thoughts PGE_Geo. I found the title 'Drilling Intersects Massive Copper Sulphide Mineralisation' interesting as I could find very few references to 'Massive Copper Sulphide' on the internet.

Hi PGE_geo,
The RNS title refers to massive copper sulphides rather than just massive sulphides containing copper does this not imply that the rock is majority copper sulphide?

I assume Sandfire don't want to mess around with their assets while trying to complete the capital raise for their large new purchase. I am assuming that is why we haven't seen confirmation of the deal completing.
Our annual report is due next week so I think we will see Botswana drilling results before it is issued.

If KAV's belief is correct and 'the diamond company' abandoned the drill hole at less than 200m, presumably because they had found metals, then that suggests drilling at Ditau won't need to be very deep. I haven't done a lot of research on Ditau.

Hi Tk95,
Do you have a link?

Thanks F79 - so should now be within the next 5 days or so. Exciting times....

The RNS still hasn't made it onto the LSE website.
https://www.londonstockexchange.com/news-article/KAV/operations-update/15145558
With the road in place and the drill pads ready it can't be long before we get confirmation that we've started drilling target B. We finished drilling target A yesterday morning - any thought on when target B drilling will start?

If they could do a similar presentation, but updated, and include a link in the RNS once some of the assays are available it would work wonders. I realise passing a video to be linked in an RNS probably requires more effort. A company recently did this and were obviously so keen for folk to watch the video thay they included THREE links to it in different parts of a reasonably short RNS. The fact that the presentation isn't in an RNS probably means a lot of folk miss it ( or like me misplace it).
As an interim measure perhaps XTR could include a link to that presentation on the their website and twitter, highlighting some aspects, in a similar way to Iceberg's tweet.

Well worth watching again from about 19 mins in
https://m.youtube.com/watch?v=AEIwR_0S7SE

Thanks - found it.

Thanks Iceberg,
I like the post:-))). Do you have a link to the original presentation handy?

Hi Screenlearner,
There was a point where he appeared to be talking about final steps and then he caught himself, I agree he did say needed to consider the next steps. No idea what that was about.
Hi Lucky ,
I agree it would be nice to see a model. I'm hoping they'll provide something additional with the assays.

The following is from the 2nd Sep RNS
'BRDD-21-014 encountered a wide interval of sulphide mineralisation suggesting that the airborne geophysics programme has identified a new zone or possibly a sheared zone from the Racecourse deposit. Recently received magnetic survey results suggest that the hole was on the margin of a new system and as such we are excited about the further potential. These two holes will be modelled and the continuing Phase 2 drilling programme will focus on open pit extensions and further testing of this newly emerging zone."'
And
'Hole BRDD-21-014 was sited to the southeast beyond the limit of the current Racecourse Inferred Mineral Resource and the conceptual open pit area to test a new MIMDAS IP target not investigated by previous drilling at Racecourse. The hole was drilled at -55 degrees towards the northeast and reached a final depth of 816.5m. It intersected what appears to be a new segment of the Bushranger porphyry complex, with significant widths of pyrrhotite-pyrite mineralisation and associated copper sulphides'