Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Should call it Baldrick Resources if the next cunning plan is going to be anything like the last few...
Bitcoin v gold
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html
Man has two guesses left at bitcoin wallet password or risks losing £180m. Pretty dumb not to have kept a note of it really. Glad I buried my gold krugerrands under the begonias, or was it under the quince bush? Wait, they're under the fuschias. No, er...
@WhileyD - "I think bidding 'starts' at £250M, so approx 25p a share." Don't forget we only own c. 70% of the assets and will have 1.3bn shares, fully diluted. So more like 15p...
So basically they took the samples in Autumn but it won't all be crushed and analysed until Spring, a whole winter. It would have been quicker to take a few bags of quartz home every day and get the lockdown wives and kids to sort out the sparkly bits! :-)
Yes about 3 pallet loads...
What to make of this then? " Processing of the bulk sample at the Company's pilot processing plant is expected to be ongoing throughout much of Q1 2021. The Company does not expect to be in a position to release results until all processing has been completed and the results have been verified. "
So no bulk sample results until the end of Q1? May as well go back into hibernation until next summer then. Hopefully good gold grades will then shortly be followed by an upgraded Ilmenite resource statement and a nice Amitdoq maiden jorc which will finally send the s/p into the pennies. Just need to dodge the virus until then..
I see that Mark Austin once worked for CRND (One of my many failures) They also had a major dewatering job to do there, so he should be well versed in those procedures.
Check out the spread at the time, they look like sells to me..
Check the spread at the time though, sadly they look like sells..
The fact remains that though we now know we have a process which can extract 78% of gold present (yes, what of the remaining 22%?) We still don't know the result of the bulk samples assays (which St Tropez assured us would be with us back in late October or early November) On top of that we have a failed drill which will cost us time and money. No surprise that we're drifting.
@LockerRoom, the stated historic average grade in the veins is 17gms/tonne and consists mostly of areas of barren or low grade material say less than a few gms/tonne with occasional areas of high or even bonanza grade deposits of 1000gms/tonne or more. Together they all average out at 17gms/tonne. To expect a couple of random drills to come across anything but low or no grade gold areas is like expecting to find a sixpence in every mouthful of Xmas pud.
@LockerRoom, I'm getting what you're saying about it being a test of the concentrating process rather than trying to assess the average grade, and that the processing could have begun with any lower grade input material to reach the final 20.7gms/tonne. However I don't think drilling into this type of resource will give any indication of average grade. Host rock which contains gold spread fairly evenly throughout would be amenable to that approach. However, our gold is contained within thin quartz veins running through a much larger volume of host rock which contains no gold at all. Further, within the quartz veins gold may be found sporadically in rich concentrations which again doesn't lend itself to assessment by drill core. Drilling is only for confirming the presence of the quartz veins which is a prerequisite for any gold being present. Only mining itself or bulk sampling will be able to confirm the average amount of gold in the quartz.
...now watch the rampers/pumpers taking the 27gms/tonne and running with it! ;-)
@LockerRoom - that sounds plausible, that they were simply testing out the extraction method to see if it worked well rather than trying to find the average grade. Otherwise they could have stated the average gold contained in the veins is 27.5gms/tonne (as 20.7 gms/tonne is 78.06% of the gold there) Feeling more positive now...
My reading is that it's saying a concentrate was produced measuring 20.7gms/tonne (with a further 21.94.% left unextracted) It's not saying 20.7 gms/tonne is the average grade of the unprocessed sample, though I'm sure they will expect some to read it as such. So as yet we still don't know the average bulk sample grades. For all we know they could have picked just the lumps of quartz with sparkly bits in them to send off to the lab. Also a drill failed to reach depth, so all in all a bit of a negative RNS for me. Let's see what the market thinks..
Those grades mentioned in the RNS are from a neighbouring company, not from Alba's drill results. As I remember, our results so far have been unremarkable and far from commercial, though as GR says, there's a lot more exploration needed to fully scope out the area and it remains promising.
p.s. if we could hack into the bitcoin system and bring it down gold would probably double overnight! ;-)
(only joking, Big Brother)
elir71 - I'm with you on the fragility of fiat as it's subject to the whims of govts and bankers printing more, and have long thought of gold as being real money. However bitcoin seems to be the go to currency these days. I somehow feel uncomfortable with it as it's not physical, requires a stable communications system, a level of tech savviness etc. whereas gold can be recognised by anyone down to a third world road sweeper, and has been for the last 6000 years.
...not sure about HH contributing much tho...
Some info on graphite in this RNS from a year ago -
https://www.lse.co.uk/rns/ALBA/amitsoq-update-zo931xtzejxkb64.html
I'm personally not expecting fireworks from any of our assets but if we can move incrementally towards monetising them I would hope each could add 1p+ to the s/p over time, so my eventual target would be in the 4p- 7p range over the next few years.