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@Jack i think they created a subsidiary in Cameroon. What we may see them do is hang on to or JV Bibemi & Wapouze and then seek to JV either with the same partner or different partner the 8 central licences. The 8 are all lumped together which if a couple / a few / or more end up having decent grades it makes mining them much cheaper since resources can be shared and the ore would be truckable, something akin to what IAMG are building out at Boto.
I think it would be an expensive task to drill out those 8 licences I mean look what IAMG are spending in Senegal to earn in on that piece of land. Think it is something like $8m
This share has been to 2p twice with ZERO news. First time the Nomad kicked the share price down which was unfortunate. If we get out of this maiden drill programme with acceptable results to the market the first round of value will be realised in Cameroon. If the stream samples yield positive drill targets in the Central Cameroon licence package this will also yield additional value. Add to this any news coming out of Senegal and that will also help. Q4 arrangements to follow the maiden drill programme will also cement value. Remember the company is going it alone on first exploration in Cameroon which will also increase the value of the business, since they haven' Jv'd all the licences away off the bat. Given the size of the territory in Cameroon they may have to partner up to cover all of the ground so it could be interesting.
Yes I am excited to see how the total results pan out from Bakassi Zone 2, Lawa East, and Lawa West. Company is already starting to form a plan on how to further explore this area in Q4. I think when we get all of the results together there will be a further update from the BOD explaining what next steps would be. Hopefully they can put a value on the licences they have. I know they want to do as much of the exploration themselves to make any future JV more valuable.
Cheers Troj. was hoping to see Tim come on and do a bit of PR follow up. Like someone said yesterday who do you believe the legal RNS from the qualified Geologist / CEO or a bunch of gifted anonymous bulletin board posters.
Looks like we could slip into next week for more results but those holding long term should gain a bit of comfort from that interview. I know I do.
If you go back to one of the previous interviews with Tim (think it was the Zak Mir mid week) Tim said he always is very diligent on all of the paper work and compliance, so that when they get audited for due diligence they cannot get marked down in value for irregularities, a big piece of this will include all of the information they put out to the market.
Good old Gordon's gin. The price of Gin is extortionate in the part of the world I am. Roughly $50 a bottle out here so with the market reaction to the RNS we had I may even need to ration my current supply.
Sleep on it dude and we'll see what the next pot of results yield . I reckon we will get another set before the end of the week!
I had a few G&Ts this evening which was quite reassuring. Reassuringly refreshing with a twist of lemon. I suspect we will have some commentary from the company either at the AGM or at the end of the reporting for these 4 zones. Hopefully the whole package that comes together is good enough for commercial interest.
Ultimately is this BOD going to ramp something in this RNS in the way that they did if it is not commercially workable.
Hey Kutzz good if you can do that. I will need to liquidate some of my holdings in the next month or two at the latest. I hate contemplating doing it when down. I have a million or so at .75 or so but still.
One positive I guess is that we dropped so much more on the IAMGold under spend ****uation!
So back to the company to put a positive spin on things.
Well we pulled back a bit on the earlier losses. I guess a bit of a churn sellers in the morning and new buyers coming in. We will just have to wait and see what the rest of the results bring in from Cameroon. Like I say I would like to see some insider dealing but I suspect they all have options still to exercise.
Kutzz that would be your call dude. I think it is undervalued but I have everything tied up at the moment.
Obviously a risky strategy too. If I can get news soon on other holdings I would consider a top up but the news and assays will all be through.
Truthfully I probably hold more than I should for a junior explorer.
I’d love to see some insiders top up if they are happy with the first results!
This is what they put out on LinkedIn
We're pleased to share further results from our maiden diamond drilling programme at the Bibemi #gold project in #Cameroon. Results from 8 drill holes at Bakassi Zone 1 deliver multiple multi-gramme intersections including results of 2.45m grading 2.96 g/t Au http://ow.ly/FFwV50F9usu
The results have confirmed more than 100m vertical continuity to the system from surface & they provide confidence in the potential for Bibemi to host multi-gramme intervals within wider envelopes of lower grade mineralisation.
We look forward to sharing more results from the remining 20 holes of the programme, which we hope to publish by the end of Q2-2021. Due to the success thus far of our preliminary exploration model, we have begun follow-up work programmes that will commence in Q4 #ORR $ORR $gold
Hey Leathal hang in there bud. Not the reaction we wanted. I am down 45% my last buy averaged me down a bit. Kind of wishing I was buying that last tranche now! But that is how it goes. Just gonna sit on the side lines and watch how this plays out. Senegal results to come as well as more data from this huge land package in Cameroon. Lets see how the rest of Bibemi pans out. Wondering if they will do a presser before the AGM to talk about results.
Not sure if we are in a closed period (don't think so) since AGM results are public.
It would be great to see an insider RNS with someone from the company buying off the back of the results so far! That would be a visible way to back up the sentiment in the RNS!!
Well at the current market cap I think a lot of bad news was priced in to this share. I do think it was a bit cheeky to put a deadline on questions for the 11th knowing this RNS was coming on the 14th. Anyone with further questions on these results should send them in.
Hopefully we see a rise in SP though as we still have gold in the ground that hopefully can be worked at a commercial level. I guess that would be on e of my questions to the BOD.
Well you all have a choice now the first results have come out.
You can sell up or ride it out and wait for more.
I am selling I don't profess to be an expert in the commercial viability of what has been discovered, particularly if there are any local government incentives for mining companies. However I will be holding it out and waiting on the rest of the results.
I have always seen Tim as fairly honest so if he is still excited about things then I will keep an eye optimistically open!
Well there is gold in the ground and we are formalising the process to own it.
Under the terms of its option agreement with Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques SARL ('BEIG3'), the Company has satisfied the conditions to earn a 90% interest in RMC Cameroon SARL, which owns Bibemi, the Wapouzé project (20km to the north) and three licences in Central Cameroon. The administrative process to formalise this ownership is currently underway, including the formation of a new local subsidiary company into which the licences can be transferred.