RE: Proactive Investors7 Jun 2018 16:43
Tarouca tungsten and tin exploration licence is a former scheelite mine covering 5.7km�.
In 2015, trench sampling at the Tarouca project showed high-grade tungsten results with 15 out of 126 samples exceeding 0.5% WO3, including 0.8 m at 11.4% WO3 (TTR063). Together with the 15 holes drilled in 2014, this confirms an outstanding exploration target in the north eastern area of the licence.
So, not only is it tungsten and tin, with very high grades in places, it is only 20km from Regua. It also has copper. WHo knows what else it has there? Maybe it has some stuff that no-one thought to look for, when the mine was operational.
As for Sao Martinho, we already have a JORC for 100koz Au. In July, we may be told that we have 500koz Au, or maybe even a lot more than that. What does it matter that we drill a few extra holes? If they get another four samples, 53m deep with visible gold, The market will most definitely sit up and take notice. Yes, definitely concentrate on getting the LP cash fountain gushing in 2019. My view is that we will see a lot closer to $40m ebitda, than $20m ebitda, but there has to be a long term strategy, and that has to be based on exploration results.
He can drill, produce, pay down BR and STILL have enough free cash flow for a 0.1p dividend.
All IMHO.