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I know its only a matter of time but it was so disappointing an AGM and with an up-date to follow it sows seeds of doubt in the most stubborn of minds, to top it off it GRL took the polish of my main share holding HZM who are making the main move to funding. I had HZM at 10p in September and GRL at 18p we still have time. GLA and don't be impatient as one of those patient bods will pick up your shares and eventual profits.
DJ - Cutting Emma some slack.
If as per the note dated 13.05.21 they had a 80,000te stockpile and May, June, July and August production would add 342,300 te to the stockpile. Just inform me that we have crushed and stacked 300k te material with the leaching process having been operational for a minimum of four weeks in cells 3 & 4 & with leaching having completed in cells 1 & 2.
Sirspread - I think you may be correct, the company and I'm looking at Emma have neve played with a straight bat, "first 8 months 25000oz but never putting the stake in the ground when production started. Now the inability to organise and mitigate risk is being place at the door of government officials who are not working to the GRL timescales, WOW how up your own importance is that !!. I have 800,000 of these @ well under 10p but in a weeks time that could be gone, we know they have the gold they just cannot manage or they are trying too much to manage on a shoe string.
Excuse the off topic all
Geoffrey's having a Rainbow moment with the last post
George : Its Friday tomorrow and Wednesday was yesterday and today its Thursday.
Bungle : Does tomorrow and yesterday always come before today ?
Sorry just needed it out of my head
DJ - What's the odds on HMZ and GRL announcements of funding and gold pour being on the same day ?, Nothing for months then two come along on the same day with no opportunity for a little bit of redeployment of profits !!.
Yes, well done to those who averaged up or down @ 12.5p, sadly I had no disposable cash today but Friday will a different story so long as were not on the next chapter. If we do move on with the AGM on Thursday its a big well done to all those who have held out and not sold. For the record I think we need two pours to get to 25p.
HP, clearly we have no facility to pour gold ourselves so my thoughts are have someone pour your gold for you and take the gold away having paid $100 per ounce for their services. This is only my preference and not the companies position which is an known unknown.
Wasa with a fair wind the profit on this company could approach 2 times market cap which is exceptional, we just need some news after I have picked up some more depending on what comes next the monthly pay or the RNS.
Just doing some lunchtime research and was interested in the Goldman Sach's $2300-2500 in 3 to 5 years discussion.
Anyone else read the GS output and confirm this view ?. clearly as we prove additional resource and install a gold room, If true and becomes reality, it will be massive for a low cost gold producer like us.
DJ - The factors effecting the leaching time are numerous :-
1). Crushed material size - I have 5 mm recommended
2). Leach pit of 4 m height
3). Cyanide concentrated to 0.08%
4). spray intensity of 12l/min
5). leaching time 4-6 weeks depending if you want to get to the final grammes then 8 weeks
6). Oxygen aeration of the cyanide concentrated solution is preferable
7). Temp of cyanide concentrate, 85c preferable but this will cost them to attain it.
If anyone know these then they must be close to the company, but particle size, cyanide concentration and temp of solution is key.
DJ moving forward we need our own gold room to keep every activity in house, we need to prove up more resource when the gold pours produce the surplus cash post the repayment of gold loan and small debt. If we prove up to 1.5million oz and have a mine life in excess of 15 years we with the limited shares in circulation must be worth 60p to 80p price range per share. Whats not to like, I will add when I can.
I have a fully drawn schematic of the plant installed but its missing the final piece the final stage of gold recovery and pour.
I'm baffled when you look at the past hype around Greatland gold and the lack of hype around GRL, GRL to become a gold producer in Q3 2021 with a relatively small share issue which is tightly held versus and explorer with lots of potential development land and a good backer/partner but with 10 times as many shares in circulation and drilling results potential due at the end of 2021.
GRL probably will post an RNS update prior to the end of August with regards the gold loan and production progress and probably another RNS with an announcement of first gold produced in September. Gold is inching up to add to the mix and thats great for producers, so I ask why the lack of hype, once gold is poured / sold this tightly held share will put on 50% IMHO. Sorry for previous double post it appears i was impatient which is unusual !.