Member Info for KeithOz

...Didn't watch live, since at 4.00am for me!
* Good explanation of the importance of the orientation of the B1 target
* Thank you Mr Price for asking about the speculation (on this board) on the possibility of IOCG in the GRS. Interesting answer from Jeremy: "I think it is entirely possible...we're still working on this, it's early days. I also think it deserves an entire presentation to itself when the time comes" If there is an IOCG 30kms long, it deserves an entire company to itself, not just an entire presentation.
* Ben appeared to be soliciting offers for the entire company.

Here's the link:

https://www.youtube.com/watch?v=LwAWyP-6M8k&ab_channel=Proactive

Starts at 2.50.

GRH - Good morning (evening for me!) Thanks for the response. I didn't actually call for more analyst's reports, just pointed out that the lack of them was one cause for PRD's relative invisibility. Most reports are commissioned by the company anyway, and are usually little more than puff pieces that do not ask the difficult questions. Anyone who thinks they are of value should look through the various lists of broker current recommendations - 95% are buys, the rest hold, almost never sell. Now is life really like that?

Sefton - I think the honest answer, as our own Mr Cube says, is that the company doesn't care about private investors. Why bother? The directors are in it for the long haul, and do not care about day-to-day movements in the share price, they have their gaze fixed on the value of buyout(s). Placings have been done to friends/insiders/barrowboys, maybe could have been done better at a higher price by dumping a bit of good news on the market directly before raising, but un the long run it makes little difference to the eventual outcome.
I suspect that investors here are more sophisticated than for many other small-cap stocks, and largely understand the way things are done, and mostly have investment timeframes in line with those of the management.
From your previous posts you appear to be somewhere in the less civilised parts of Africa, so I'm not at all sure that you can follow Cube's suggestions re Thai massage, but I'm sure there are local ways of relaxing and waiting until PG & friends have finally sorted things out. Maybe things will improve slightly if they sign up with a decent NOMAD with the move to Aim, if that ever happens, but don't hold your breath.

Just a couple of things before I get to the point: 1. Boys & girls, please be nice to one another, your input is highly valued, insulting each other is not. 2. Graham - thanks for the risk analysis, your posts are always interesting, if occasionally inscrutable. 3 - Cube - good to see you continue posting, nice to see brutal honesty, but for the sake of your digestive health I do suggest you have the high tea after a Thai massage, not before.

One of the factors that does not help in getting the PRD story out is a lack of independent analysis. I mentioned this a few months ago, no harm in looking at it again now. At the beginning of July, just after the first MOU-1 RNS, SPAngels's Sam Wahab ran a brief analysis of PRD. His conclusion was:

“Whilst the gas shows recorded appear to be uncommercial at this location, the Company will have gained crucial sub-surface thermogenic gas migration data to support drilling at MOU-4. PRD’s share price is currently down c.30% on the news which could represent a compelling buying opportunity ahead of further drilling activity this year in our view.”

So. what has changed since then?
* MOU-1 has been declared a discovery
* MOU-1 has perforation & flow testing planned
* MOU-4 & 5 have been substantially upgraded
* MOU-NE has been identified
* Lonny has joined as COO
* Henry Hub natural gas price has risen from $3.6/MMBtu to $4.95/MMBtu
* UK natural gas price has risen from 82p/Therm to 229p/Therm
* PRD share price has declined from 9.1p to 5.2p

Additionally, after the presentation at the end of September, Malcolm Graham-Wood said “With exciting wells to come I feel that the MOU-1 well has probably de-risked the area by more than the market had initially thought and of course I remain very excited about  Morocco as a place to operate. “ PRD remains on his bucket list.
One more thing that's different - I now hold 4x the shares I held on 7th July.

Hi Troken, didn't mean to offend with coarse Oz geo phraseology - but where's that British stiff upper lip?

Further to my post at 9.20 yesterday, where I suggested there was likely to be a mineralisation system in addition to the Ni-Cu-PGE targets we have come to know & love, Ben says this at 2.56 in the Stockbox interview yesterday, with regard to the Proterozoic and Karoo phases :

"... each of which could have led to events that led to the creation of iron magmatic sulphides - Cu-Ni-PGE bodies, or this new theory that we're working up at the moment down in the Great Red Spot"

So I read that as Ni-Cu-PGEs in both Proterozoic and Karoo, plus an additional different system in the Proterozoic. That's three times the potential from before this drill campaign started. KAV sure looks cheap to me. I guess it will take an actual assayed discovery before the share price reacts - those who understand the potential are already fully loaded up, everyone else will wait for a verified discovery before piling in.

Did you miss this bit? Down at the bottom, under "KSZ definitions", last two sentences are a change of viewpoint ...

"Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion."

OK, serious answer, now I've got some dinner inside me. I must emphasize, the following is guesswork on my part, and would reiterate all the usual warnings that go with a high risk, microcap exploration stock.

It would appear that the boffins at KAV, of whom there are now several, all of whom are held in high regard within the industry, believe they have found something unexpected but really interesting in the Proterozoic gabbro. I suspect that they have a very good idea of the mineralisation system, but are unable to say publicly until the petrographic work and assays come back.

It clearly is not the Ni-Cu-PGE style that they are still pursuing in the Karoo age gabbros, hence it is not necessarily the case that the potential ore is at the base of the intrusion, to answer Ella's question. From the limited information released so far, I don't have any real idea what is involved - just possibly an IOCG (iron oxide coper gold) system, although this is usually associated with brecciated rocks and granite intrusions, rather than mafics. I don't want to get anyone over-excited, but Olympic Dam is an IOCG system, which also has lots of Ag & U. One of the features of IOCGs is that the larger they are, the higher the likely concentration of Au, which is not visible to the naked eye, because it is finely disseminated. Just speculation!! - does anyone else have suggestions?

Whatever is there, clearly a 30km linear anomaly in this geological setting is very interesting. It will require a lot of time & money to evaluate properly, for which one of the big boys needs to be involved. Before they commit to anything, they will want to see full details from the four KSZ boreholes, and that data is unlikely to be available for a couple of months after the current hole is completed, so don't go splashing out on Ferraris, etc for Christmas. Wait until Christmas 2022 or 2023.

The 250K purchase at around 8.50 with a strange trading flag was me, but please re-read paragraph 1 above and think very carefully before following suit.

Only 30km long? For god's sake, when are they going to find something big?

C & C. A number of people have expressed concern that the B1 conductor could be magnetite, because they saw it mentioned for B2, and Castillo last week drilled a promising conductor only to find magnetite with disseminated sulphides. I suspect it is this FUD, unusually generated by RNSs rather than trolls, which is keeping the share price down. There are a few reasons I believe this concern is unjustified.
1. The magnetite found in the Proterozoic was interstitial, meaning that it was formed by metamorphic action or emplaced later than the original intrusion. The contact between the P gabbro and the overlying sediments was an unconformity, meaning that at some point the P gabbro had been exposed to either the air or seabed. We have only seen the top 50m, so some kind of alteration by weathering is is one possible cause, the other, probably more likely, is alteration of existing Fe-containing minerals (of which there are a lot in gabbros) due to hydrothermal action. Whatever, all this was 100s of millions of years before the Karoo gabbro intrusions.
2. The RNSs use of "indicate that Karoo aged intrusives may have intruded upwards along structures that controlled the emplacement of the underlying Proterozoic gabbros" could be confusing, I had to read it a couple of times. Some may have interpreted this that the two gabbros of very different ages were going to be mineralised in the same way. We know the KSZ is an ancient structure which is basically a number of linear cracks in the Earth's crust, through which magma has reached the surface. In simplistic terms, these are the same cracks today as 1.2Bn and 200M years ago, but the two episodes of magma intrusion are likely to be quite different in both original composition and the way they have been altered by events over time. KAV have stated several times that there appear to be two separate mineralised systems. The core from B2 is certainly unusual, and suggests multiple metamorphic events, we will have to wait and see what the mineralisation actually is.
3. The B1 conductor has been identified as being quite distinct from the P gabbros, both by AEM and using TDEM.
In summary, the B1 target appears to have squirted up the same crack used by the P gabbro over a billion years before, but that does not mean it will contain the same minerals, a lot can (and does) happen over a billion years.

O/C - you should have kept quiet, we were all very impressed by your wealth & daring! atb - K.

2.5% - 10 million shares? Wow, I thought I was taking a risk.

thought-through, nothing to do with a trough!

Very well thought-trough and worded. Provides additional detail, but in a balanced fashion - quite unlike most small-cap exploration co's releases! Also noted that there will be a Proactive one-to-one forum at 6pm 25th November: Register here:

https://event.webinarjam.com/register/1344/lxxzghmzw

Thank you for the response(s) Vegas. These two presentations are surprisingly fact-dense, and I read something different into them each time I revisit them. It is therefore valuable to get additional insights from others here, it all helps to build up a picture of what might actually happen over the next six months.

I understand that some of the POW raise is to fund a new rare earths project here in Oz, but PJ has clearly expressed a wish to crack on with Ditau asap, on several occasions. With Pr/Nd now priced at $125,000 a ton, I think he is correct! I have a suspicion that KAV will move straight to Ditau after KSZ-B, and give the two previously planned KSZ-C targets a miss for now. They have an huge amount of data (some very unexpected) to sift through from the first four KSZ holes, and a pause for reassessment makes sense before drilling further in the KSZ.

Oh, here's one that's also accessible free atm, by the same author, relevant to the KCB:
https://www.geologyforinvestors.com/sediment-hosted-stratiform-copper-deposits-the-future-of-copper-and-cobalt-mining/

I have mentioned the subscription website Geology for Investors before, as being a good source of well-written articles. They occasionally make new articles available free of charge for a few days, to encourage new subscribers. An interesting article on magmatic Ni sulphides was published yesterday, and should be accessible from this link:
https://www.geologyforinvestors.com/tenor-and-magmatic-ni-deposits/
It is primarily explaining what contributes to economic viability, and uses Voisey's Bay as an example. One interesting observation is why disseminated Ni sulphides can sometimes be worth more than massive sulphides.

A couple (lots actually) of questions about Q1 2022 proposed drilling.

In 09 September presentation, page 7, two "appraisal" wells are mentioned: MOU-4 & -5, and it is stated that the EIA is "in progress". The wells are likely to cost $3.3M each, inclusive of completion.

In 28 September presentation, page 16 states "3 wells planned for Q1 2022". No mention of EIA, nor of cost.

So, how can they be appraisal wells before a discovery? - MOU-1 is stated to be a discovery, but they are not appraising MOU-1. What has happened with the EIA? Has it been completed? Submitted? Approved? Any other approvals needed before drilling? Are we going for 2 or 3 wells? Is the number dependant upon how much cash can be negotiated from 3rd parties, or are there additional considerations? If 3 wells, what is the status of the additional EIA and any other necessary approvals? Is the information vacuum down to ONHYM discussions and approval?