Member Info for ID78

Wait… they drilled their first hole in Cerrito Negro in January this year … and they won’t be mining it this year? Well I am out.

Just having a bit of fun (sorry) … there is plenty of drilling to go. Plenty of results in the discovery phase still to go (they are currently planning phase 3 of Mostaza having expanded the strike length significantly - and that could extended yet again….)

Each new phase means more copper and silver and a more valuable find, a bigger maiden resource estimate, an increased MCAP and share price.

Mining this stuff is miles off, just miles away but there’s loads of action ahead of us and a real chance for us all to make good returns …

GLA

Taking my post a step further, so if we assumed best case scenario is a lift of gold 40 days from the end of March we could have numbers in 2 weeks.

Worst case is that all pads (they will be staggered) but all pads just started leaching the last of pit 2 at the end of March. 40 days to leach that ore then they need to mine 1200 tonnes a day from pit 1 in that timeframe. As they were sustaining the 48000 tonnes with each RNS they should be able to do that.

So… 40 days to leach the last of pit 2, the clear the pads, stack and leach the new pit 1 ore is another 40 days. 80 days leaching plus whatever time to clear and stack the pads… maybe 90 days? 3 months from the end of March (so end of June).

It won’t be, but that is the worst case for pit 1 ore to be poured… IF by the end of the summer gold pours aren’t improved I’ll consider my position here.

HarChris - did you suggest they need 750oz to repay the loan and remain profitable?

Bearing in mind they have never reported gold grades in the RNS’s…. Just ‘lower grade ore’ of pit 2 and 1.0 to 1.2 g/t of pit 1 (I think).

Again - comms could be better!

It does sound like it (better grades from pit 2) but as they got towards exhausting pit 2 the grades fell away and they didn’t expect it.

The only risk for me is grade 1 not being the grade they expect…. grade really is king here. The company have done plenty to improve the gold pours (increased HL capacity and changed the mining team) ….

So we wait and hope/expect better grade and better gold pours…

No worries, CLSKbull.

I just know some will cry foul play, or bash the company when a good pour is seen to be late or lower than anticipated, when there are any numbers of reasons needing considered.

Again comms could be better. Ho hum.

GLA

PaulJ reposted an RNS (21/12/18) that recovery factors were 67% after the first 40 days of irrigation.

We also know that 26th March ‘preparatory work continues for the expansion of pit 1’ and ‘mining operations (are anticipated to) recommence this month’

So… they need to mine the ore (dunno how long that takes), stack the HL pads (are any free or are they all leaching pit 2 ore and need to complete irrigation of that first).

My point. Best case scenario is a gold pour of pit 1 gold 40 days from the end of March. But I think that is unlikely as they need to mine the ore, stack pads and start irrigation first.

So.

The next update may again be pit 2.

Or they may delay until there is some pit 1 news… as they do seem to be managing comms in a way as to promote increased gold pours each time.

HarChris - there is also the possibility of mining lower grade pit 1 ore.

Either way I’m not expecting pit 1 gold pours news this week or next.. and any update this week or next would be pit 2 ore…

Again, it is a waiting game…

So is the bounce after yesterday’s pullback.

There’s a nice uptrend here and I wouldn’t be surprised to see this end the week between 3.3 and 3.5p without any news.

Nice indeed ..

So Stefan is seeing his market as both Europe AND North America….

6th January - ph1 drilling targeted 500m to 1000m

11th March - ph2 RNS - initial plans to drill 1000m-1500m

So we are looking at the strike length now being the ph1 500-1000m, then increased to 1500m and now the trend is open to the south to another 2000m (3500m in total)….

We don’t know if this remains open, it could go beyond the 3500m!!

Striek length is now 3.5 to 7 times that at ph1!!!!

Americans have already approached Greenroc, stringer, however the landscape has changed since then. Trump is now in power and wants Greenland.

Are you seriously nervous that the EU will turn their nose up at a strategic resource which they need for defence?…. Make no mistake if the EU don’t act there is a danger they lose this to the USA.

I’m quite sure Stefan is not worried either way.

Yep, thanks for sharing. The way I see it

- the EU want graphite, and this is one of the best resources around (highest grade)

- it is needed in defence and thanks to Trump Europe are spending more on defence (the only thing Trump has got right)

- Trump wants Greenlands resources so the EU will do what they can to lay claim to anything of value in Greenland (CRMA strategic project status).

So whilst ‘it’s hard to say’ I’ll just be shocked if the dots all join up and don’t show us the EU flag via CRMA strategic project status.

Price of gold pulled back yesterday and most gold shares lost ground. Alba is no different.

The trades are very odd, £2 to £20!…..

I did try to buy in the last hour and it was constant NT.

There are no shares availaible

I can’t see the POG dropping below $3000 and I don’t think we’ve seen the end of this bull run (I think we will see a higher high).

The US markets were already overheating and the unpredictability of Trump has poured fuel on that fire.

The safe play is gold, silver and REMs…

I’m seeing a lot of red on my watchlist; you are quite right LW about the gold stocks.

@HarChris - I’m not totally sure that we will see results this week. I’m not convinced about the HL cycle time supporting news this week, but with the standard of comms it is hard to say really.

But, as LW says, this is a good opportunity to buy more if you have funds

Honestly, it’s fascinating watching GSCU and the pace of the drilling and drilling. I also hold ARCM. The difference in drilling process and comms is remarkable.

GSCU are like Usain Bolt, ARCM, well I’ve seen snails move quicker.

Hey FoF : this has become an investment that really has such limited downside vs huge upside.

Worst case they continue to mine 500oz a month, and conservatively estimating AISC is $1900 and POG is $3400 then that is $9mill profit a year.

If they hit the 1000oz guidance that is $18mill a year.

If the AISC comes down due to grade improving then we could see near $2000 profit per ounce, so on 1000oz that is $24mill profit a year…

Then there is the additional HL pads that will need additional plat than can up the production further.

Or there is the 6g/t regions (which will need additional CAPEX).

Downside. … they continue to mine 500oz and make $9mill profit a year….

You’re welcome John.

In any normal share you’d expect profit taking and a pullback. But with news any time it’s hard to know if we will see a red day today or not. I’d have taken profits if it weren’t for the fear of a CRMA decision any moment…

Volume isn’t huge, but there is a see of blue buys and the SP is down 9%?

It won’t last (being down 9%)

Courtesy of tonto AI:

March 11th 2025 EU briefing

“As the demand for essential and rare earth minerals, crucial to the green transition and modern technologies (including defence production), grows, and as climate change makes mineral resources more accessible, the focus is turning towards Greenland. The tense geopolitical landscape is refocusing attention on strategic autonomy, supply chains and diversification,further increasing Greenland's attractiveness.”

“graphite vital for military industries”

https://www.europarl.europa.eu/RegData/etudes/BRIE/2025/769527/EPRS_BRI(2025)769527_EN.pdf

Then we have Kainz Huber head of the European Defence fund attending a seminar hosted by Greenroc last week.

EU needs Greenland not just for its minerals but its strategic importance as well. Greenroc 100% would be kept on the inside track in regards to the progress of their strategic project status as the EU stated themselves on March 11th “THE FOCUS IS TURNING TOWARDS GREENLAND”