PYX Resources: Achieving volume and diversification milestones. Watch the video here.
If you look up open pit mining on Wikipedia and then open the part on typical grades then their information is that copper can be extracted at 0.11 to 0.2. This is obviously only viable on a large scale basis, and with a high copper price to market. The point is that the footprint of copperhead is growing.
I disagree with your feasibility prognosis, if it's gold then the grades need to be higher as the price of gold is substantially lower than copper. If any copper is deep then you need higher amounts to justify an underground mine. But at these levels then the mine will be open pit, from near the top, and so it's a case of scoop and process and the grades are good enough for that. If they then get better grades at a deeper level then it also adds value as it can be open pit down to a depth due to the scale of the area.
I'm still in but not topping up. I've stuck a lot of money into oil/gas and hope to return to miners when I've hit the jackpot there (but even my miners are sluggish atm)
Interesting snippet that they were earning €184,000 per month by Sept. Given a possible uplift in production and Spanish electric prices then the income should be increasing substantially. The only negative is the mention of equity along with debt financing. But with a strong shareholder base then I don't see them allowing a discounted placing.
I have to say that if trp was a one licence outfit with no money in the bank then all of the eggs in the Cameroon basket does pose a risk. But with the Nambia acreage, with total and shell currently drilling separate wells there, and with licences in South Africa, and Western Sahara, plus money in the bank then there is lots of potential here.
Let's face it, the entire market seems to have eaten itself, and I'm not sure why. I've been investing and trading for nearly 25 years and I've never known this time of year to have so little volume. This morning I have gaps across lots of my holdings where no buys or sells have taken place. I'm not sure if it is covid or brexit related, or whether the hot money is over at the crypto sites. But all it takes is for one stock to multi bag and then the market might spark up again. I've got some money in this and some on the side, ready to put in on any positive news, as I think that this has the potential more than most of my other holdings. One thing's for sure, the market makers and brokers must be well down on business.
Good interview but a shame that they didn't touch on the other projects.
Prospector
If you look back at the news in August, rock announced that they were in negotiations for land access ahead of diamond drilling at copperdome. If you also look at rockfire's website then you will see that historic drills at copperdome produced substantially better results than copperhead. And so my opinion is that copperdome has the potential to produce good results. Today's news makes it clear that negotiations at copperdome must be still ongoing and the drill has been diverted to plateau instead.
I'd rather they chase up drilling at copperdome, where the assay results are substantially better at 15m at 0.88 etc. I'd like deeper drilling there. I think that they'll prove up plateau while the gold price is strengthening and then go to copperdome, with results for copperhead decent enough for a preliminary jorc to add to the bottom line.
Absolutely. My maths elude me when it comes to angles. 400-440m is still well within the boundaries of open pit mining, even though its early days. However if they can jorc at the end of the results, then it will be more reserves and assets officially confirmed.
Zap
Here's a question for you, if drill hole 5 was down to 468m at a - 70 degree dip, what is the actual depth of that hole?
I was hoping that the rig would move to copper dome next, where historical results are very good, but the move to drill down 1000m at Plateau is interesting. The question will be, how long will it take to move the rig and drill?
So the news reads that iamgold have completed the drilling and now we're waiting for results. Strange that the drilling was done without any rns to confirm the drilling.
The system might be like planning permission here, that there is a set number of days in which objections can be raised and if none then the application is signed off, and so it was always going to proceed to 60 days plus the time to notify.
See this is where I grind my teeth.... 'market will decide'.... Us mere little investors and traders are the market with the current market cap, as institutions don't normally invest at this level. And so it's us penny pushing small time runts that set the price for this and many similar companies on the market. The fact is that this year is especially difficult for the traders/investors as we're up against the crypto market which has sucked a lot of volume and money out of the system.
We're the market and if we hold then any buyers will have to pay more.
I agree. The China approval is very good news.
It does feel like pc is running a private enterprise rather than a public listed company and he does have obligations to the shareholders, who ultimately own the company. I get the feeling that pc likes both the status of being in charge of a company and the money coming in from that rather than championing the shareholders and improving the business and share price.
It's a way to enter the US market more quickly, especially if the results are quickly obvious. It's a similar deal to the Indian one. Get it used and if it goes well then the consultants and doctors will want to champion any licences.
Let's face it, the British Market is in the toilet with too many 'traders' and not enough investors. Its got people chasing crypto and I've never seen such a poor trading performance in September in 20 years. There's also too many bull**** companies with African licences that are on shaky ground, or with bad management. The saving grace here is that it's dual listed and the licences are in good jurisdiction.
They're not spending that much money. Most of the spend is subject to results. Australia is a good jurisdiction. Seems like a good move.