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And the by the same lines Verger, if the JV was not being signed the market would know (and the SP would be tanking).

The market knows nothing at the moment as nothing is happening to the SP - at the moment.

All we have is the last update which was relatively bullish:

‘Arc Minerals, has substantially progressed negotiations with Anglo American, including the terms and conditions of a Joint Venture Agreement and associated definitive agreements. All substantive commercial terms of the proposed Joint Venture remain unchanged from those previously announced.’

…..

‘The parties are currently closing out remaining due diligence, technical and structure issues which are expected to be concluded in the next few weeks. As such, the parties have therefore agreed to a short extension of the exclusivity period to 31 March 2023 to allow for final internal approvals and signing of the definitive Joint Venture Agreement and ancillary documents.’

but could be construed as being their plan (how) to *mine* the higher grade ore

Hi JC, yeah fair enough that all makes sense.

I think my comment was more on whether the interview he was more trying to educate the listener to the economic benefit of finding higher grade ore, but could be construed as being their plan to move me the higher grade ore.

Anyway, good news and things are moving in the right direction

GLA

The short Stockbox interview dated 21st March. I’ve watched it 3 times.

Did RM just say they can mine less ore and achieve the gold that they need too. The whole interview comes across to as saying we can do less mining now, at lower cost and get the same gold out as we are currently doing (‘as we need to do’).

When really they could mine the same tonnage of ore and get out a lot more gold. Surely you would do this rather than mine less ore and produce the same gold as they have been??

I really hope this is him explaining the economics of mining but that it comes across the wrong way as what they are intending to actually do. I could not understand for the life is me why they wouldn’t ramp up the gold production. And the RNS did say 360tpd ore - which is not a reduction in ore being mined. Time will tell.

(Economics of mining; basically trying to explain that they mine less gold (lower tonnage) at a higher grade (g/t) so the mining costs are lower and some of the processing costs are also lower.)

https://twitter.com/robert_ivanhoe/status/1639267772130623492

Yeah I’m not sure if believe in MM codes.

But I sure hope you are right :)

So… April is month #8, and this is the end of March. So yeah - permit is imminent. And from what I’ve seen they won’t hang once it’s there.

Borrowed funds - I agree, this has to be about as low as the SP will go. It can only go up from here. (Exception being the lack of liquidity and if someone needed to sell a few for personal reasons).

Thanks for the responses

Thanks echo1.

The way I see it these guys are pretty experienced and have done this before - that will help me sleep better at night.

Then, as I said the SP has not really moved much despite the fact they are now (surely) making money (albeit from the poorest prospect).

And finally, as you say, more news and more production to come.

When is the permit for Thorny river expected?

Bought a few….. this was bumping along at 0.9p.

Now actually producing diamonds (we hope) and the SP is only 1.05p….

Could only buy £500 a go (minus commission)…Tried a 3rd buy and no shares left…

Depends on timescales I think.

The rise was on the back of securing funding for arbitration. The potential pay day is HUGE - but that’s going to happen anytime soon.

If you can wait then you should do well, but it was always a possibility it would fall back whilst there was no news.

Suggins, that’s what I was trying to say with my posts this week.

My gut feel is that a real re-rate will depend on

1) funding news
2) production news matching what they say they will do

That’s my gut feel. If either comes this SP is a bargain.

Certainly seems a slight shift in confidence on raising the 80mill.

It seemed it was in the bag, now there’s talk of there being no certainty. Unless of course this is something they need to point out as part of the RNS?

Not fully awake, and to be honest Trek when it comes to finance you are miles ahead of me.

My intitial take was that the warrants are exercisable at 42p so todays SP is just too low.

The warrants (assuming the SP does take off) are then a good price for the lender in the future.

Meanwhile they probably hope to repay early and avoid the shares being issued?

Probably overly simple, and I’m missing something…

This board really is a nightmare.

The decent posts are almost drowned out by the rubbish and the bickering.

Master (I think it is) - keep up the good work. Love the contribution.

I think this answers my question

‘A substantial amount of mineral resource remains uneconomic due to grade, depth and/or terrain restrictions, or a combination of these factors.’

It would be helpful to report what amount of ore they think can be recovered economically.

Anyway; last MRE over a year ago. There was drilling after that was RNS’d. Drilling to restart now (or should have started by now). I wonder when another update will be due.

I’m not used to seeing probable.

Any other MRE I’ve seen uses measure, indicated, inferred. I found it a bit odd.

Why is the life of mine so low given the reserves?

Must say, I do like how this BB is pretty grown up.

I was reading a bird the other day that was just bickering, fighting and trolling. Absolute nightmare.

Differences of opinion are handled here in a far more grown up manner. It is refreshing.

I did not think this would be back in the 20s.

Almost bought at 35p as I thought this would be a decent support level, but no, it’s kept falling.

Donald P seemed sure funding was a certainty .. wait and see

I had a buy order set for 3.2p …. Coulda bought for 3.25 yesterday.

Very annoyed with myself

Last update I could see was Feb 2022, where they suggest they have at least 5 years worth of gold.

Last year they sold 72,000oz suggesting they had more than 360,000oz a year ago.

But the MRE in Feb 22 gave:

Measured = 650,000oz
Indicated = 430,000oz

Total measured + indicated = 1.08mill

Ummm … that’s a mine life > 10 years (assuming 72,000oz a year).

Safe to say- I’m confused. Feel free to educate me.