Member Info for goneawol

Mentioned in the Daily Mail this morning

‘Among the small caps, Great Southern Copper gained 17.7 per cent, or 0.3p, to 2p as the mining minnow reported encouraging results from drilling at a mine in Chile.‘

Raised in November.

Https://ca.condorgold.com/sites/default/files/u84/Project%20Cortes%20Scheme%20Document.pdf

Offer document - https://ca.condorgold.com/sites/default/files/u84/Open%20Offer%20Circular%20December%202022.pdf

They have added a notional 800k ounces to our last mineral resource. Is this estimated this on drilling not included in the February 2022 resource?

Yes, we need to get to 3.958m ounces to get the maximum payout.

An additional 1,600oz to our last mineral resource estimate effective February 2022.

Condor closed it's subsidiary and withdrew from El Salvador in 2018.

From 2017 Annual Report;

EL SALVADOR – OPERATIONS REPORT

Condor’s assets in El Salvador have been on care and maintenance since 2008, with no exploration activity carried out for 10 years. Following the late 2016 ruling by the International Centre for the Settlement of Investment Disputes in favour of the Government of El Salvador, Condor is winding up all activities in El Salvador and withdrawing from the country.

From 2018 Annual Report;

The disposal reflected in 2018 from cost and amortisation of intangible assets of £3,139,566 reflects the removal from the balance sheet of previously written off assets relating to the Company’s historic activities in El Salvador. The Company no longer holds a subsidiary entity in that country.

Yes, the CVR is a separate instrument. More details here - https://ca.condorgold.com/sites/default/files/u84/Project%20Cortes%20-%20CVR%20Deed%20Poll%20-%2004.12.2024_Redacted.pdf

It is reassuring that MTL are required to carry out 40, 000m of exploration drilling over the five years (24,000m in the first 3 year period).

Investor presentation

https://www.londonstockexchange.com/news-article/MTL/investor-presentation-via-investor-meet-company/16798826

Https://www.investegate.co.uk/announcement/rns/metals-exploration--mtl/statement-re-possible-offer-for-condor-gold-plc/8583048

Https://www.condorgold.com/sites/default/files/news/Condor%20Gold%20-%20Leak%20announcement%20-%201.12.24.pdf

Https://www.aquis.eu/stock-exchange/announcements/4923367

CEO REPORT

2024 delivered a major milestone as we converted years of highly experimental research and development effort in intrusive system exploration in Australia into a transaction with Specimen Hill. White Energy has come in as the project development partner with the financial backing to tackle the huge copper-gold system Tectonic discovered. White Energy have assumed operational control of the project and we expect to move quickly to a minority position in the investment partner as they accelerate their project spend over the Australian summer. Subject to continued positive results we expect to receive a cash payment of $2 million which we plan to direct towards working up the Mt Cassidy asset. In addition, Tectonic will retain long term exposure to the large system discovery we made at Specimen Hill via a perpetual royalty on any future production.

We decided to exit our direct interest in the South African assets which we sold to investment partner Kazera. Details were shared in the announcement on 7 August 2024.

The environment in Ghana has not been favourable for junior gold companies and despite some excellent technical work, we do not have appetite to take on the risk presenting in country. Our efforts have been put on hold until we see realistic opportunity for smaller foreign owned groups to re-enter the Ashanti gold belt.

The difficulty for any new junior resources companies to come to market in either Australia or on the London exchanges has created a host of opportunities for Tectonic. We are reviewing some very attractive small development and expansion stage gold assets in Australia. We have also cast the net wider to look at critical minerals in geologies where our technical expertise is relevant. This has been prompted by the availability of non-dilutive capital for anything in the critical mineral supply chain with the US Federal Government and both the Australian Federal and State Governments offering financial support targeted to these elements.

2024 has been a much quieter year on the operational side with the focus on corporate work. The White Energy transaction is validation of years of effort in developing and testing exploration technology. We utilised new methods to make the discovery of a major copper-gold intrusive system at Specimen Hill in Queensland. We were able to deliver this with sufficient technical substance to bring a highly successful team with major financial backers in as a development partner. Well done to our technical team and the many many experts who have shared their insight and energy over the years. Specimen Hill is a massive system and even now still remains open with the promise of more mineralisation along the strike extensions. We look forward to seeing this developed.

Thank you to all the shareholders for your support. We have Mt Cassidy beckoning and we are looking at some great opportunities for the year ahead

Https://www.londonstockexchange.com/news-article/market-news/sale-of-south-african-interests-and-strategic-update/16607398

Https://www.londonstockexchange.com/news-article/KZG/acquisition-of-further-stake-in-dbm-whm/16606246

Specimen Hill Copper | Gold Project

Queensland (0% WEC) – Farm-in

White Energy is undertaking exploration activities under the Farm in Agreement (“FIA”) with Aquis

listed Tectonic Gold Plc (Acquis: TTAU) (Tectonic) and its local subsidiary Signature Gold Pty Ltd

(“Signature”) in respect of the Specimen Hill Project that comprises four tenements in the Biloela area

of central Queensland which are highly prospective for copper and gold.

The location of this project within a major structural corridor makes this a natural fit to further advance

White Energy’s use of deep crustal lithospheric analytics, developed through its exclusive research

agreement with INRS, to identify mineralisation in areas where deep crustal scale structural corridors

provide mineralised fluid migration pathways to surface and subsurface zones.

An initial Ionic sampling survey was undertaken over the tenement areas in September 2023. Follow

up work in December 2023 included additional ionic sampling and rock chip sampling. Field

observations confirmed a large and complex mineral system with a number of outcropping zones of

what appear to be strong copper mineralisation with, in different areas, characteristics consistent with

porphyry, IOCG and skarn styles of mineralisation.

A helicopter magnetic survey was undertaken in April 2024, covering the most highly prospective areas

of the project and the results are currently being analysed. Additional ionic sampling and rock chip

sampling was carried out over a number of priority areas. This work is currently being analysed while

an ongoing geological mapping program has commenced which will be combined with petrological

work to assist in characterisation of the mineralisation in the area. Completion of this work is expected

to identify and confirm drill targets for a drilling campaign during early 2025.

Capitalised exploration expenditure related to Specimen Hill Project exploration activities of $372,000

was incurred for the quarter.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02833146-2A1538044&v=70bc033a22188bdfefb8a0b8ad3c24897ef2837d

Highlights

· Start of diamond sands mining and processing at Deep Blue Minerals.

· Optimistic about the imminent start of heavy mineral sands production at Whale Head Minerals - strong indications received regarding the National Nuclear Regulator permit.

· Board to be strengthened with the proposed appointment of Dr John Wardle as Chairman.

Deep Blue Minerals (diamonds)

Mining of diamond sands is underway, with initial processing at Alexkor's Muisvlak plant. The resulting diamond sands concentrate will be stockpiled and then processed by the Company using a FlowSort, which employs X-Ray technology to identify diamonds. Following this, secure and supervised hand sorting and grading of the diamond output will be conducted before the diamonds are prepared for sale. Ahead of its commissioning, Alexkor required the manufacturer to make several minor adaptations to the FlowSort, which have now been completed. Accordingly, the FlowSort has been signed off by the manufacturer, with Alexkor's approval pending.

Whale Head Minerals (heavy mineral sands)

The Company is awaiting the grant of a permit from the National Nuclear Regulator ("NNR") and can confirm that all required submissions have now been made and approved by NNR. The Company is confident that the permit will be received imminently. Upon receipt, and implementation of any further requests by the NNR, heavy mineral sands production will be able to commence, with custom made, on-site plant and machinery ready for processing.

Additionally, the Company remains engaged with multiple parties in relation to offtake sales of the various heavy mineral constituents.

https://www.londonstockexchange.com/news-article/KZG/operational-corporate-update/16593301

"Default on loan to purchase shares by African Mineral Sands"

Https://tridentroyalties.com/wp-content/uploads/2024/07/Scheme-Document.pdf

Https://clients3.weblink.com.au/LSE_news/2024/06/26/Great%20Southern%20Copper%20PLC_16142164.pdf

'..Under the terms of the contracts, the purchaser has the right to purchase gold from the underlying mines at the lowest reference price from a list of specified reference prices in a defined period (the "Quotation Period"), which is between 6-8 days, dependent upon the contract, and commencing between 2-5 days prior to the delivery date of the gold. The purchaser then subsequently sells the gold, realising a margin equal to the difference between the purchaser's sale price, and the lowest reference price during the Quotation Period.'