Member Info for GodofHellfire

"You stay till the job is done!"

https://youtube.com/shorts/tNPNr0moGAs?si=vBHi77VOCwOywzXY

Just getting away from the doomers....

I work in AI and this is an interesting article. Given access to the data, I could probably cook up something like this:

Earth AI is using AI to reduce mining time for metals

https://www.cnbc.com/video/2025/02/06/earth-ai-is-using-ai-to-reduce-mining-time-for-metals.html?__source=androidappshare

For what it's worth, I think sitting in a funded gold miner share is a wise idea, regardless what anyone thinks of this share. Trump has instigated a trade war and has started to repatriate gold from London at a rate not seen since Bretton Woods. The US is in massive debt and a miscalculation in this trade war could result in a drop in the dollar, which is good for gold. If a drop in dollar doesn't stop then the best thing for the US to do is to revalue gold. If that happens then, well, you wouldn't want to miss that.

But, the truth is, if you can't hold your nerve in this share and you're thinking of bailing after the first two holes, then you never really understood gold juniors, gold mining or a district scale property. In which case, go gamble on something else and I wish you good luck.

Barrick's focus is hoovering up Tier 1 assets so this is the magic number I reckon. 500,000oz per year for 10 years. With a district scale package, this seems easily doable

Cekim, you're like the Angel of Doom haha

Oriole were also quoted saying the following for the news article but wasn't in the RNS I think

"Whilst MBDD001 intersected some of these NNW-trending structures, it did so 'down-dip' and it is believed that this hole drilled beneath the mineralised target area. Nevertheless, a number of gold mineralised intervals were intersected,"

Here's an example of the risk of dropping out too early.

This company released the results of its first 6 holes in August last year and the share price sank.

Next set of holes came in in September and looks what happened:

https://www.proactiveinvestors.co.uk/ASX:MTH/Mithril-Resources-Ltd/shares

Just to be clear on some facts before some get their knickers in a twist.

First of all, this is positive news. There is gold underground. The results didn't come back empty, they came back with gold in them. That means there is a gold-bearing system.

Secondly, the next set are visually showing the same sort of system continuing. So the gold underground looks like it is continuing up strike.

There are very few early explorers who hit massive grades straight away or continuous high grades. They often develop in bits and pieces along the strike and often appear concentrated in random places, often off to the side. You need the results of all holes to determine the outcome.

They've adjusted their drill angle, which means the first set may be lower because of the angle.

Remember, if non-geologist artisans are digging nearby they are going by eye. To go by eye the grades would need to be over 5gpt. So the chances of the geologists finding something similar is very high.

Anyone who is selling now doesn't understand that the signs are still really positive, albeit not yet definitive

Are you lot following this drama at the moment?

Gold at record high again

April 2023 that article Troj

when there are artisanal mines, gold needs to be visible.

in exploration, visible gold often appears when gold grades exceed 5,000-10,000 ppb (5-10 g/t) in veins or concentrated zones.

lower concentrations, such as 500-1,000 ppb (0.5-1 g/t), generally do not produce visible gold unless it forms co**** nuggets.

Revised Prediction

If artisanal mining is confirmed nearby, it provides real-world evidence of gold, aligning with the earlier trenching and soil geochemistry results.

The probability of encountering gold in the core samples would increase to 80-90%, as the surface gold suggests a nearby or connected source of mineralisation.

Additionally, the likelihood of finding economically significant grades improves, especially if the artisanal workings align with known anomalies or mineralised trends.

I have a GPT which has all of the MBE knowledge to date within it and I often add to it and ask it questions around comparing to other results that have ever been.

Here's the last assessment:

Mbe Project's Likelihood:

For the Mbe project:

Earlier trenching and soil geochemistry strongly indicate gold is present in the system.

The presence of sulphides in the described setting further supports the likelihood that gold is associated with the observed sulphides.

Based on comparable cases, I would estimate a 60-70% probability that gold is found in at least some of the core samples.

The actual gold content, its grades, and whether it forms a mineable deposit remain dependent on assay results, continuity, and the scale of mineralisation.

All on the assays baby

Well said Hunniford!

Like Kutzz says, if there is proof of gold at scale, there could be a bum fight. New gold jurisdictions just don't exist anymore. I would expect great interest from China personally

If you think about it, an acquisition is the only plausible outcome for the board. With such exposure themselves, I can only see them reaping the rewards that way rather than selling any shares in coordination. It would tank the share price. So to get best value, I reckon a buyout is the most likely outcome.

Apparently the percentage value for the Turkey asset is close to $8 over the mine's life. Do you think that would equate to a sale of c.$2m?

Yeah I agree, these boards are a good place to air concerns. But repeating the same concerns over and over without taking action isn't condusive to a resolution or answer. We all know what's happening. We all know they are shareholders too. We all know the environment is challenging. We've already been through the points of pay. We had a kind representative at the AGM and we had answers then

As you exactly point out HRY, there is obvious action in anticipation of results so we know they are on the case. The points being mentioned are the same points and they just help the share price to go lower and lower. It's nonsensical

Just to balance the karma at the moment.

I don't disagree with the complaints and understand the frustration. Shareholders must hold the BOD to account but the complaints are repeatedly labouring points that we all already understand. However, there is a roadmap. And we all understand that roadmap. Making public complaints repeatedly in the hope things will go faster is pointless and just comes across as self indulgent keyboard warrioring. If you want to hold the BOD to account or get something out of them, do what Kutz does and send them an email and report back your findings. That would be infinitely more valuable to read than repeated complaints and ramblings.

Sorry, just gets my goat sometimes. Please be patient or take action, but don't whinge on these boards