Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Wents, I’m by no means an expert, but I have been in contact with the appropriate Mexican ministry, and while they didn’t go into specifics with the tenement they said that there is a lot of red tape to get through for permits to be approved and that takes time, so basically be patient.
This contact was a couple of months ago now, I will try again in the next couple of weeks.
I expect this to rise into September on hope and maybe overshoot a rational price target before settling somewhere once we know the data.
Hopefully in the mean time the team on the ground at EH can substantiate their thoughts that EH mineralisation extends beyond the current known ore body, as well as prove the presence of some reasonable grades of copper, nickel and PGE’s.
I also have some unrealistic dream that Bill sticks it to Capstone by finding some decent grade gold and copper at D2, but I for now I’m just assuming there is nothing there.
HH, I got similar on my guesstimate, I put the potential of the Sirius Extension alone as up to 15MT, but expect somewhere in the ballpark of 10MT.
I have a much higher ballpark figure for the rest of the Hanc0ck tenement based off the geological structures, rock types and other tenements in the Pilbara with similar rock types (and of course size of the tenement).
Exactly HH, this project never added any value to the SP, was never going to be worth much more than around £2m profit at some point down the line (unless silver prices went up dramatically), was never even confirmed to be going ahead and yet 10% of the companies value is dropped over it.
They’re playing with us for a bit of volume, nothing fundamental.
We didn’t move on tailings announcement, so I wouldn’t bank on moving down on the ending of the exclusivity agreement, bar the usual games to create a bit of volume.
I make iron ore results to be due in the next couple of weeks.
Let’s face it Chris, the share price has retraced 76% since the peak, not since you recommended to sell.
You were a frustrated seller at a much lower price, as Nap said its all in your history.
I, similar to many others am not here to trade fluctuations, my timeframe has always been at least medium-long term. I’m here for a few more bags over time, and I’m willing to be patient.
I’d be lying if I didn’t say it’s been frustrating at times, but from quite extensive research, I believe this to be vastly undervalued, alongside a great many other shares in the mining and exploration sector.
GLA, lots in the pipeline.
By all accounts now is really the time to be buying not selling, I suspect anyone selling here either is in real need of the money now, or is super frustrated and licking their wounds.
From a charting/TA stand point this is oversold, though some may be awaiting confirmation of a trend reversal, before buying.
From a fundamental perspective our primary value comes from iron ore projects - one of the few commodities so far that is still holding up nicely.
From a news flow perspective there is a lot of potential - would be good if the board could deliver on some of the following soon;
- San Celso/Los Campos permits
- Brockman POW
- Drill sourcing for D2 and EH
- Update on workings from EH
- Tailings results
- Han**** drill results
Lots there that could happen, but we need some follow through.
A bit of patience while we clear out these weak hands who are probably scalping 10% from their late entries yesterday.
I’m here for a much greater return than that, and it’s unlikely to come from trading ranges, next leg up soon. Hoping to see 20p hold as support, this is way undervalued as a junior in one of the best positions in the market.
BLEG results to come in the next few weeks, alongside sediment and rock sampling that could confirm significant anomalous zones of two other target areas along the Aragon Fault, bolster that with an IP survey in the next few months alongside the rest of the drilling results which shouldn’t take so long to come back now. Also an exclusivity agreement to end in the next few months with a decision on the potential new asset.
A fun filled couple of months with a decision from Newmont and Agnico as to whether they will carry on the JV, which our very non-rampy CEO is quietly confident they will do.
I’m holding and looking forward to it.
Shared this to telegram the other day, and the lines have held. Pretty basic line drawing, but hopefully it offers some hope to others with a confluence of support below.
https://www.tradingview.com/x/vifcnh1l/
I understand a normal of people are saying short-term this is a sell now, but are we not due drill results for Senala in the next few weeks, then continuously over the next couple of months?
Correct me if I’m wrong but that’s the impression I was under… Others may be right about IAMGOLD’s strategy, but I doubt it, they want to understand the resource too and I believe the majority of this company currently lies with the JV at Senala - hence the dramatic drop on last drill results when they didn’t do what people expected.
I personally am hanging around for those results, as they provide a lot of upside IMO.
Also, from looking at the diagrams around the drilling results, there is a good deposit down there even if it’s in thinner veins - look at the amount of the veins in the space of 100m in the diagram provided. I’m invested in a number of other junior miners, but this hovering around £10m is an absolute bargain - easily 2x upside from here with any return of sentiment, though that does come with the usual risks of junior mining companies.
GLA.
There have been some good posts surrounding this already, and it’s good to be discussing something new, but thought I would add my thoughts (at least on the acquisition of EH):
The tailings lie within the mining lease ML47/342, and remains partly retreated from the original mine at EH. This is currently subleased by Wombat Resources Pty Ltd., as laid out in “Sublease - Elizabeth Hill Tailing Retreatment Project between Legend Mining NL, East Coast Minerals NL and MKS Capital Ltd dated 17 October 2001” and “Deed of Variation - Sublease Elizabeth Hill Tailings Retreatment Project between Legend Mining Limited, East Coast Minerals NL and Eclectic Investments Pty Ltd dated 16 January 2007 and DAACV”.
We purchased Elizabeth Hill Mine from Karratha Metals Group Limited, who have been renamed 4 times since their creation, back in early 2000 their name was East Coast Minerals N L, so evidently they are the leftover owners of the resource (I believe Legend Mining is/was a mining contractor). The tailings – as mentioned by 5x5 are often managed separately, and were subleased to Wombat. Bear in mind that tenements are leased from the Australian government, not strictly owned, hence why it is leasing, subleasing etc. The M47/342 (formatted ID) or M 4700342 (Tenement ID) tenement was licensed to Karratha Metals Group in 1994 and runs until April 2036. With agreements already in place surrounding the sublease, why would the company specify that they aren’t getting the tailings? It’s all in the open for anyone willing to dig for it, so for Alien Metals to state that ‘as part of the deal with MKG for Elizabeth Hill Mine they will not be getting the Elizabeth Hill tailings, owned by Wombat Metals’ seems completely irrelevant?
Dan Smith at the time of the transaction was declared to be a 22% shareholder of Kingmaker Metals Pty Ltd, and 22% shareholder of Karratha Metals Group. All third party approvals were received including the Western Australian Ming Act, and approval from KMG’s shareholders. Nothing untoward here in my opinion.
As others have said, you can get a bit creative with dealings around the rules, as long as you stick roughly within the guidelines, however I see no issue with the dealing for EH, as any co-party interest is addressed, and positions stated. The tailings are not even in talks yet, as Bill stated in the Webinar we recently had – they are still in the due diligence stage, awaiting results from the lab before any discussions/negotiations will go ahead, if a deal is made then they can present relevant details at the appropriate time.
The EH tailings are not a worry to many here, as DSO is the focus. I do like that there is a potential short-term income stream present in the tailings but it really is a side show. As I also sent in earlier, I have been in contact with Bill, who is not concerned about the accusations from Tom Winnifrith on insider dealing.
I agree Hunniford, wish I had only just seen this share - what a bargain. Can’t believe people are actually selling.
Good results from both projects could send this up over 1.5p easily now in a matter of days. So many bargains in the sector it’s hard to choose what to buy, but this is certainly up there.
I know it doesn’t answer all the in depth questions that StarBright asked about the dynamics of the deals/acquisitions, but I did ask Bill about Tom Winnifriths accusations, and he replied with the following:
“Hi XXX
just seen this
We work within the rules so for whatever reason this guy decided to mud sling at us but no truth in what he says and to be honest I have more important things to get on with and focus on
Regards
Bill"
Of course it doesn’t answer everything SB said, but I only asked Bill if the company had seen it and could comment on it.
Now from my own research into insider dealing, the issues arise when deals are not done at “arms length”, and are questionable whether it is a good deal for shareholders or not - I.e. is the deal creating fair value on both sides, and I believe that all deals have been done through official routes with some form of mediator and a third party involved, and have also been done at fair value for both us and the companies we are dealing with. Maybe others have a difference of opinion on that, and I am no lawyer, but from what I’ve read things have been done completely above board.
Nice one Dip really appreciate you sharing that - makes the research a lot easier.
I must say I like having a thread named after me ;-)
I'm now a small shareholder at GGP - will hopefully get a chance to bolster my position at some point.
Nice to finally have a blue/green day across a number of shares in this sector!
I think you are right in that the board could do more here, Impecunious. Boots on the ground and buying more are the two things they could be doing but which we are lacking at the minute.
However, it takes some buying pressure or some good news (or news hype), to reverse a share price like this that is basically drifting on no forthcoming news. But I do think the market is completely irrational - KOD add substantial value from 4g/t highest grade results from early stage project, we get 10+g/t and lose about 2/3 of our value in the following months - completely irrational IMO.
The only good news is Peru's death and new infection rate is now cooling off fairly dramatically, so hopefully the wheels begin to turn a bit quicker now. Lord knows we need some strong drill results, some new tenement approvals, some good indications from early stage exploration (sampling etc), and maybe an extra drill rig.
I dare not say it can't go lower, because who knew it would drop this low.
GLA.