Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Just listened to the interview again and it definitely reaffirms my belief that we are awaiting the award of 2 additional licences extending creswick area to incorporate more of the DMS. Once this is confirmed and Craig alludes to this in the interview, the final hurdle is the legal documentation sign off.
I meant to add these are not the ones granted to POW and RRR today
Important licenses for us are around creswick, namely EL6713 and EL6907 for me these are crucial for the JV.
I have that's why I asked as it definitely is not addressed on that interview. Just curious, I can't see any other reasoning other than stated. Just quite strange of they believe so much in ECR they didn't want a 15% stake by exercising the warrants.
Any thoughts on shinyang selling existing holding circa 8.4% early January and then exercising the warrants at circa 7.4% holder.
Reading into it myself they saw the share price at 4p and sold, knowing they could exercise the warrants and bank the profit.
Yeah just looking at Gino's suggestion of evolution mining and that also fits what Craig was saying in that interview.
It's definitely important to have these discussions as people have a tendency to see "Newmont/tier 1" or nothing. Not saying any here would it's just an observation. Healthy to have a discussion that might not be the case and that shouldn't detract from the importance of that step for Ecr.
I agree, always good to consider though otherwise the market has a tendency to overreact to these minor issues. I was looking at Northern Star resources as a possible good fit to my speculation that it might not be Newmont.
I agree TS, deal agreed barring any hiccups regarding the requests for clarification from government re license from the sounds of it.
Did anyone else pick up on that it might not actually be Newmont? That was my impression just in the way he talked about the third party, sounded like a tier two miner to me this time. Be interested to hear thoughts
I couldn't help myself, don't usually average up but that interview. You couldn't help but hear the tangible excitement. Positive indeed
Where do you get the rationale for 6p. On the eventuality of 770mboe then you'd be valuing in ground at around 36p? I always thought $1 a barrel in ground was a good guide, which at current exchange rates is double that, hence everyone suggesting 12p, that excludes upside and other assets. Can you expand on your thinking re 6p
Almost felt like a wind up. Reminded me of the speech Alan gives in Vegas in the Hangover!! Absolutely pitiful
Confirmed TR-1 notification.
js, it certainly would be viable given the right level of capital investment. We however are a tier below the ability at this stage to bring that potential out of the asset ourselves. As Ts and hawk say, we could indeed begin to drill out further along the identified 7km but ideally we should be looking to strike a deal and focus all funds on bailiston targets. That's just my opinion, the company may look to progress the project internally.
Creswick needs £20-25m spending on it to prove up hence the JV talks. No chance us going alone on a project of that scale unless we want to drill slowly over a 3-5 year period.
Might be worth sinking a few more holes to further derisk and make it more attractive to JV partners.
Ideal scenario for me would be creswick JV 80/20 with commitments on drill campaigns from JV partner. Use the profile increase from that deal to raise further capital at a higher base, say 10p "hypothetical, we have just appointed joint broker so reading between lines", with the added capital focus on bailiston over next 12 month accelerating our exploration. Also demonstrates to wider regulators that we are a serious outfit, we do have quite a number of pending licences and this just strengthens that argument.
We shall see I guess
Yes I'm also very intrigued by the appointment of a joint broker... Interesting development.
He means percentage terms and his personal paper return when we were at 4-4.4p range.
Definitely a sit on hands moment, add on any weakness if you are able, ATB
JV then 8-10p will be the new base short term with likely a spike to 10-14p range.
Then it's what the drill bit finds at bailiston, anything close to fosterville grades as we go to deeper will send this into quite literally life changing sp ranges. All at this stage speculative.
Great move today on some really positive initial results. For those here from the Chile days, great day for you. Was here along time ago just wanted to drop in and say nice to see this at the top of the risers today.
ATB
Realistically on a find in the region of 770m what are people's expectations re share price?