Member Info for ID78

Daprophet - could you post a link to the podcast?

Don’t have X so can’t search but I can view links…

LW - I agree that the lack of comms is a sign of all not being well but I’m not convinced it’s terminal. HC’s posts have illustrated the case for this remaining as a going concern even whilst mining poor grades.

In theory we are at a turning point (more HL capacity, better grades of gold and past the wet season) And if we are at a turning point the board will start singing like canaries again. They do like to pat themselves on the back and trumpet good news.

So. That is where we are. No place to hide anymore and time will tell.

Again comms are so so poor here and that affects trust.

Rumours?

Aye let’s prepare the drill pad for a rig that not coming.

Makes total sense.

I mean - at least come and de-ramp the share with something beleivable!

Dickie it may be on site and being erected.

We could get an RNS in the morning that drilling started overnight.

The rig was expected this week.

300m @ 0.99g/t - not as good as the OMI holes I higlighted.

But I do accept GPT hasn’t hit the best results. Like I said, it’s probably mince.

He is trying to buy shares but keeps getting NT. it’s a shame. No, really it is.

Aww ok

It’s not :-)

I’d argue there’s more gold with OMI - strike length however needs considered and is likely to be greater at GGP.

I’m not saying we are the next GGP - but as a marker these grades and length of strike are really fantastic for OMi..

From ChatGPT - so maybe mince…

📍 2. Havieron Project (drilled by Newcrest under farm-in)

• Key drill highlights include:

• 116.2 m @ 2.6 g/t Au & 0.65% Cu, incl. 18 m @ 6.3 g/t Au & 0.92% Cu (Hole HAD043W2)

• 309 m @ 0.99 g/t Au & 0.07% Cu, incl. 44 m @ 3.3 g/t Au & 0.15% Cu and 1 m @ 100 g/t Au & 0.85% Cu (HAD047)

• 187 m @ 0.61 g/t Au & 0.10% Cu (HAD069)

• 127.6 m @ 2.0 g/t Au & 0.33% Cu, incl. 29.8 m @ 6.7 g/t Au & 0.86% Cu (HAD077)

25 June 2018

Selected HAD001 results: 121m at 2.93g/t gold and 0.23% copper from 497m,

including 11.5m at 21.23g/t gold and 0.67% copper from 568.5m,

including bonanza grade intervals 0.5m at 137.69g/t gold and 1.8% copper from 573m,

and 0.5m at 100.15g/t gold and 4.1% copper from 575.5m

So… 2.93g/t x 121m =354.53

We have

Pep001: 3x150=450

Pe012: 5.64x66.75=376.47

Pep013: 7.68x77.3=593.664

Pep014: 5.85x75.1=439.335

Pep018: 6.01x54.1=325.141

Pep021: 6.22x107=665.54

Pep022: 7.24x76.4=553.136

Pep034: 10.15x59=598.85

Pep045: 12.76 x 62.3=794.948

If I get time I’ll try and find GGPs best drill result

Adam smith - that’s one really attractive thing about OMI.

Normally companies

- drill and hope to hit gold

- if successful produce and MRE

- the we start on feasibility studies, mine CAPEX and funding. Then once plant is built there are the teething issues with the plant to overcome.

Not OMI :

- find gold (done)

- produce MRE (underway)

- start mining and process at a nearby facility

No CAPEX, no funding, no production teething issues to overcome.

OMI are looking at selling gold quickly and without the funding question that normal hits a share price on the Lassonde curve!

I don’t know the GGP drill results..

Hole 45 is a belter …. as a quick guide I multiply the grade by strike length and that gives a value of 796.

Again - compare to MILA I’m getting values in the 20s.

Even PEP001 with the massive 150m strike gives a value of 450 - considerably lower than the 796 0f PEP045 and PEP001 was a belter?!

Napth - could still be rig was ‘expected’ …. However the rig could just as easily be there and being set up for drilling right now.

:-)

So they really could start drilling anytime. We could have an RNS tomorrow morning or one Monday stating drilling started at the weekend…

Tuesday 8th July RNS:

‘ By way of the Red Setter drilling update, I'm pleased to advise that an earthmoving contractor is due on site on the 11 July and we are expecting the drill rig to be on site for next week. A further news release will be made when drilling commences’

On the 8th July they expected the rig to be onsite the next week (so this week)…..

Hey Napthman - thanks for the heads up on SOLG.

I am aware of SOLG being massively undervalued. I’ll take another look tonight.

I need to actually get on and do some work - thanks again

So am I Napthman - 1st pad is ready drilling is imminent.

I’m just curious - if the started drilling Friday could they be finished by Monday?

Does anyone know how long it will take to hit target depth?

Just look at those strike lengths!!

It’s not the piddly 1 to 5m strike lengths it’s 30, 50,70m strike lengths (and one at 136m)!!!

It’s massive

Quick question and I’m sure someone has posted.

How long are they expecting to take between starting drilling and completing on the first hole?

Courtesy of a fantastic poster TrekMadone - on PXC I asked the same question. His response;

They are usually market maker price discovery trades or to encourage liquidity by moving the price/volume.

Sometimes they may post a scheme to encourage trading activity….

Definition: market making incentive schemes that the Exchange is mandated to offer under Article 48(2)(b) of MiFID and Article 1 of Commission Delegated Regulation (EU) 2017/578

Page 58 covers it and also ALGO trades..

https://docs.londonstockexchange.com/sites/default/files/documents/rules-lse.pdf

MiFID2 MM agmt tab...

https://docs.londonstockexchange.com/sites/default/files/documents/20200401%20MIT%20&%20TE%20Parameters%20version%207.2.xls

Occasionally you may like pages of single figure trades or lots of AT trades. Or lots of same number trades like 59 or 28 etc. That may occasionally be what they are trying to do. I see it lots on SEpL which is quite illiquid.