The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
A phase 1 underground bulk sampling programme was successfully completed, with seven bulk samples collected for a total of 36 tonnes of material. The processing of a small quantity of that bulk sample at a third-party processing facility validated the Company's process flowsheet and confirmed the production of a 20.7 grams per tonne gold concentrate.
What you talking about Mr 0008
"A phase 1 underground bulk sampling programme was successfully completed, with seven bulk samples collected for a total of 36 tonnes of material. The processing of a small quantity of that bulk sample at a third-party processing facility validated the Company's process flowsheet and confirmed the production of a 20.7 grams per tonne gold concentrate."
How many tonnes were in the bulk sample? £42 per gram of gold
I've seen battery grade between 5-20k/ton, but this was from a website not updated since 2013.
I've been researching and found difficulty finding spherical grade prices. Using 20k/tonne, and 250k tonnes, I magically get the number 5Bili. I have no idea as to the production costs, and of the 250k, it is not 100% battery grade.
Still nice to plug in numbers and imagine
From this morning's RNS
"This first bulk sample was taken from previously worked areas of the Mine, and as such the Company is not anticipating high-grade results from this initial processing exercise. The Company is therefore much more focused at this stage on using this first bulk sample as test material for the refining of the processing plant so that it is fully optimised to maximise gold recoveries before the Company's processing team proceed to process the further bulk samples which will be taken during the course of this year. As those further bulk samples are expected to be taken from new, unworked veins, where the prospects for high-grade mineralization are expected to be much greater, it is critical that gold recoveries in the processing circuit are maximised before those further bulk samples are processed."
https://www.thesun.co.uk/news/14435213/gold-nugget-prince-of-wales/
Nugget found in Alba's patch in 1979 sold for £25k
The article doesn't mention us though
7 Feb 2013, Stellar Rersources Plc
https://www.lse.co.uk/rns/PRIM/high-grade-gold-sample-results-from-clogau-mine-i2mhm0usojoj768.html
From the above RNS, 263g/t, with gold sitting at roughly £40/g, Resulting in roughly £10.5k per tonne. With an estimated 24,000 - 27,000 tonnes in the lower lode, this should be worth upwards of £250m.
With the mcap sitting at £20m, if we get a similar RNS, I would be sitting on a 12 bagger! Really looking forward for the assay results
From the article - "It is believed there could be as many as 500,000 ounces of gold in the area, and with gold currently selling at just under £1,400-an-ounce, that would be worth a staggering £700m. "
Assuming 50% profit, might this swing the market cap to +350m? If so I'll be driving a jaguar!