Member Info for Jeremiah99

AinaBear, I would imagine there's a sweet spot of daily production that would maximize income per oz (don't ask me what it may be tho - 20,50,100 ozs? Who knows?) One factor which may reduce the premium is if they eventually discover that there are huge amounts of gold in the area waiting to be dug up so people will realise that in time their little Welsh gold trinket won't be so exclusive after all. Mind you, if rumours are true that diamonds are actually not as rare as we think they are, it's just that the main diamond miners restrict supply to keep the price up, then perhaps we will try to follow the same business model?

Yes, a few are asking the same question, why let go of such a promising prospect? Never mind that gold was at 700/oz don't forget the Welsh gold premium. I do hope that DL's involvement in both HH and Clogau doesn't mean we have been sold a pup a second time. "Fool me once..."

Two investors were in for around 40m shares at 4.5p (+warrants at 6.5p) From the 1/10/2018 RNS - "We were approached by a European Family Office and a South Africa based institution to provide further funding for our exciting Zambia exploration programme. We are delighted to welcome them as shareholders..."
I'd guess they will be looking at the longer term picture so will have a bit more patience than the average PI.

2.82p

If we are only to get 6-7 oz/day it's probably only enough to cover our present Mcap. Surrounding areas, if they contain commercially exploitable quantities of gold, will be subject to possibly lengthy bureaucratic processing so will take some time to monetise, if ever. Yes Greenland ought to bump things up substantially once projects there begin to get progressed but that's also jam tomorrow.

I sense that results so far may have been too inconclusive to warrant a buyout at this stage and that JVs for various areas as they get proved up might be the plan going forward. It seems that NvS's earlier enthusiasm that we may have several tier 1 assets and we were on the slip road to something big, might have been a bit premature.

@Blue-horsehoe - As I remember it, Brown sold 300 tonnes of gold at under £300/oz. Even at today's rate of nearly £1500/oz it would come to under £15bn, not much when this crisis is needing £hundreds of billons thrown at it. I do think people should hold a little physical gold themselves for a rainy day and one thing I see these days is how few savings people have tucked away for the hard times.

https://www.bbc.com/future/article/20201026-why-its-getting-harder-to-mine-gold

Possible similarities to our area - lots of gold potential but some opposition as it's in an area of outstanding natural beauty. Sounds like there could be over 2mozs there -

"Back in the 1990s, it was the price of gold that ultimately stymied the mine’s prospects, says Boyce. But that is no barrier now. And, he says, the size of the mine – Dalradian estimates it could produce 130,000 ounces (4 tonnes) annually for 20 years or more – makes it unique in the UK.

“For gold, Curraghinalt is far and away the biggest gold mine that’s ever been found in the UK,” says Boyce. “It dwarfs everything else.”

The traders must have made a mint out of this share already. Talk it up, topslice, let it drift, talk it up again etc etc. I'd imagine a few may have doubled or trebled their original stake by now, even if they weren't in at the lows...

elir71, I've always had you firmly in the 'more balanced posters' category.

Just to add, deeper drilling into the permafrost next year ought to add nicely to our ilmenite numbers, but that's still a bird in the bush. Also from the little amount of info I managed to unearth several years ago, I wasn't overly impressed with the total quantities of graphite which were mined back in the old days. It was something like several hundred thousand tonnes, as I remember. Though a lot more may be present and waiting to be scoped out once we get drilling again next year.
So all in all I'm quietly positive but well aware that things don't always go smoothly or to expected time frames.

elir71 - Constant talk of our ilmenite being on a par with Bluejay so our s/p is way undervalued, but omitting the fact that they have 4x our quantity, a landing jetty, worker's accomodation, off take agreements and a processing facility in Quebec, plus a nickel mine in Finland etc.
Mention of us having 19,000,000 tonnes of ilmenite when in fact that is the quantity of ilmenite containing ore. Certainly sounds better than the actual contained ilmenite content of just 1.69mts.

There was enough gold for the old timers to extract 80,000ozs. Yes, over 150 years that's a humongous average of 1.46oz/day. Presumably because - "Finding Welsh gold on the other hand is like finding the sixpence in the biggest Christmas cake you could imagine. There’s no pattern, no logic, and you never know when you’re just inches away." Not so easy to find a supposed 500,000ozs worth £billions then?

Don't get me wrong, I'm as hopeful as anyone and guilty of over positivity at times but also like to know what the pitfalls may be so I'm investing with both eyes open wide...

With all the warrants being subscribed for lately it's far more likely we have paid rampers in our midst helping the IIs to maximise their cash in price. There are regular professionally laid out posts outlining all the company positives (whilst also stretching the truth more than a little) without a thought for any pitfalls that usually befall any share. I think the IIs have done extremely well cashing in on the backs of the plethora of ramptastic posts we have been inundated with lately. Agreed the derampers are almost as bad and they have their own agenda, but they are in the minority here so the imbalance is still in favour of multiple unrealistic ramping posts.

Best keep some funds to hire that nice Mr Chigurh (google him) just in case we get stitched up...

Covid shouldn't be a big problem in most of Africa as their average age is just 19. But as for anything GR lays his hands on, well what's the opposite of the Midas touch? Bit like my own AIM investment history though, to be honest :-(

Relax, it's just a hamster with a hernia..

@elir71 - yes my first thoughts on the further samples was more "Oops not many sparkly bits in the first lot, better take another even bigger one" rather than "Yes, plenty of gold showing in the first bulk sample but lets take more even though it will delay things by a few weeks"

Bit harsh on Alba, they were hostage to Ukog's failings at HH otherwise we'd be in the low pennies already. Then Covid arrives to pummel nearly every stock. Thanks to GF's astute asset selection we at least have a nascent boutique gold business to replace the underperforming oily at HH otherwise we'd still be struggling to survive.

1p in three weeks
4p in three years
IMO

You're talking over 100x Mcap from these levels if they ever found those amounts of copper under ST. ;-)

Yes I just thought there was something fishy about their not really following it up properly. Maybe a nice gold find will help put things right.
Here's a video of David Fraser outlining what they thought was under ST back in 2017. It's what caused the boom to over 2p which then fizzled out to ultimately a 95% drop as they failed to drill into it. I was way out on the numbers, he says 600-700mts (@1% copper) not 150+m so it was supposed to be humongous.
https://m.youtube.com/watch?v=d4LeX6Xq7mQ
He talks of ST after 6:50