Member Info for Jeremiah99

I seem to remember 14p if our share of those billions of barrels of HH oil ever materialised. We were proper mugged by the snake oil salesmen back then but I'm far more confident there's still gold to be found in these hills.

The broker target is 0.37p. We did reach an s/p of 0.55p in 2020 which with a 60% dilution since then, equates to a similar 0.33p. That's a Mcap of around £32m which is hopefully where we could be heading if useful amounts of gold start to appear.

80,000 ozs in the past with probably more than that to come. The old time miners didn't have to deal with Covid, government bureaucracy and environmental delays which are all hopefully behind us, but neither did they have modern drilling and geophysical tools to speed up the discovery of new gold seams.

Having said all that, the potential in Greenland is probably still greater and appears to have plenty of (industry and) government support.

Several years ago, after they'd just drilled into the Clogau formation and gave some numbers as to the length and width they thought newly discovered veins extended to, I came up with the rough figure of the unmined veins at Clogau alone probably containing similar amounts of gold as had already been mined over the years, c. 80,000 ozs. At ordinary market prices that would be worth over £150m then factor in the Welsh gold premium, not to mention the as yet undiscovered gold in the region. All this for a company valued at only £3.65m. As long as bureaucracy doesn't get in the way too much, this is cheap as chips IMO. :-)

...and to back up Jaffa3's recent posts, I googled a question and got this AI generated reply -

"Yes, rocks surrounding gold-bearing quartz can contain gold. For example, in Britain, gold can be found in quartz-sulphide veins that cut through sedimentary rocks of Cambro-Ordovician age. These veins often only contain significant amounts of gold where they intersect graphitic horizons, such as the black mudstones of the Clogau Formation"

I was surprised and delighted to see Clogau specifically mentioned as falling into that category. Very interesting....

We spun off our Greenland assets and now own 34% of it, with an independent CEO in place. We still own 100% of Clogau. I'm sure events are progressing in the background at Amitsoq but presently the focus is on Clogau as we prepare to blast virgin rock for the first time in many decades. I'm excited enough to have just bought another 4.5m Alba shares.

It seems the virus is only spread by close contact/exchange of bodily fluids etc and is not airborne. There is a vaccine already available but perhaps not in the numbers required to cover whole populations. I would think outdoor activities would be fine, plus a little more care and distancing if indoors with others. Handwashing, covering mouth while coughing/sneezing. Covid was invisible whereas people with Mpox can be easily recognised and isolated earlier. The virus expert I heard this from on the radio was not unduly concerned about it.

To Zak Mir's 2.75p target? That's still quite low since we often sat at the 3p-4p range for months, and that was without the promising Botswana assets.

Time to load up before gold fever hits ;-)

Jaffa3 - yes having read the RNS I'm moving more towards your point of view. There could be more gold than expected in the unblasted non quartz rock but until they sample more of the bulk waste material the jury is out as to what level of gold it may contain, IMO. They may find they have their hands full of decent grade newly blasted rock that they can leave the waste material for a later date?

Having located the relevant RNS of 26/3 I can see that they took shallow samples for processing but these appear to be from the walls in the mine rather than the waste material -

"One grab sample of loose floor material was also sent for testing. This did not return a

material gold grade"

The positive point is that the gold bearing samples didn't appear to have any visible gold present.

"The Company is greatly encouraged by the fact that these high grades are from ore that

did not contain visible gold and is interpreted as being part of the background gold

population"

If the gold isn't always visible perhaps one grab sample wasn't enough and they should take more samples from the waste material?

Anyway, it all seems very encouraging...

Chippings from visible gold in the veins is obviously going to contain high levels of gold whereas several hundred tonnes of waste material left in the mines is unlikely to contain the same amount otherwise the old time miners would have brought it up for processing IMO. It would be lovely if you are right though as 400 tonnes at 4ozs/tonne would be worth £3m plus the Welsh gold premium.

But any changes to the value of Groc may not be fully reflected in the Alba s/p as markets aren't 100% efficient.

Jaffa3 - sorry but your expectations are way off. You probably mean 4gms/tonne rather than 4ozs (c. 120gms/tonne) The best visible gold will already have been picked from the tailings and perhaps there was a good reason the rest was left underground rather than transported up to surface, i.e. it was plain rubble devoid of any sign of quartz? This is not to say there won't be very high grade material somewhere in the yet to be discovered quartz veins, with the occasional bonanza grades of 1kg/tonne to make the headlines. It's gonna take time tho, IMO.

It's a question I've been wondering about. How big an area/resource was it that commanded a price tag of $1.9Bn, and how might our Botswana license areas compare? Surely too early to tell at the moment but if we were to be paid 10% of that $1.9Bn, it would equate to around 6x our current Mcap of £26m. Perhaps too optimistic, but who knows?

To think a lot of us were grumbling about the Bots purchase at the time. Looks like it may turn out to have been an inspired move.

We're down around the recent placing price (which some of the BoD subscribed for) Ready to blast level 5 in stages over coming weeks to try and uncover some gold bearing quartz veins. One would hope and expect the s/p to rerate to a higher level on first signs of useful amounts gold - I'm humming the theme tune to Bonanza as I type - yes, I'm that old :-)

Sorry, I've had them all on filter for about 18 months, I'll just have to take your word for it.

I seem to remember the Mcap hit £300m at the height of the HH hype years ago, now £4.4m.