Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Well, I appreciate your input OilMonkey. I watched the youtube video and I'm not questioning its tier 1 status (who am I to do so?) I am just flummoxed by the grades I calculated. 1g of gold for each tonne of rock!!! And going underground to get it? It kinda goes against anything I know about goldies.
For your amusement, I first looked at GGP when its MCAP was 50million and rejected it. hahah. The jokes on me, I guess.
Ok thanks. I guess my headline question should have read 'what makes the Havieron JV so great'. Just trying to get my head around this deep resource with such (seemingly) low grades.
Well TY for a more serious reply to a valid question.
Calcs, like I said, from the Nov 20 Presentation. Bulk MM x grade for each row. Sum the bulks and grades then its total bulk divided by total g/t. Similar with the copper. Not a difficult calc and v easy on a spreadsheet.
As for future drilling, well, its priced in y'think?
I'd really appreciate more feedback on this one. TY :)
Sorry copper averages 0.193% including the reserve.
Just did the calcs from the last presentation (Nov 20) for reserves and resources for Havieron JV.
Average gold grade is 0.927g/t and copper 0.168%.
Obviously I am missing something here. Can a LTHer pull the scales from my eyes?
RM, you haven't lost yet.
something else just occurred to me. Given the UK situation and even the talk of a UK NI tunnel costing billions, can you imagine the terrible optics if GAL were allowed to fail. %0k pa, jobs, cheap debt, NI and EU ****e and they let a struggling gold miner go to ruin. I think it ain't gonna happen for 5mGBP
The only real issue is funding now. With that they should be able to get into production. The 4.5 million working capital deficit could bring the whole show down and that's reflected in the SP. But its a problem they've had for years and they keep managing to get funding. Also with the debt conversion in December it seems the support is still there.
GAL story of dilution and debt tho is nothing special in getting a mine up and running. With the POG where it is and the potential for 50k oz per year, seems like one of the few 10 bagger potential where the risks are known.
One of the last cheap share in the AIM mining sector. They had a 1 million loan converted just in December and Melquart have been supporting the company so far. They will own a majority stake if they stump up (one last?) time to get into full production. May be argued that they're in too deep to back out now.
As for a JV, I don't think that;'s being considered now given the last RNS stated they're in talks for funding. Personally I think they'll get it. The PSNI issue was a major blow and the company have done very well to keep the show on the road in the interim and also get a thorny issue resolved.
My only gripe is they do so little to promote themselves. Hopefully that will change once blasting restarts.
When you're given a timescale in industry just double it and you'll be close to the mark.
what's with all the tiny trades?
I think they'll get funding. No mention of sale or JV in recent rns and maelquart converted in dec. Therey're in too deep to back out now.
The debt is not significant seeing that we've come so fare at huge cost. I think they've done very well considering the size or the project and thw low ball from PSNI. I expect cash injection soon to bring us thru to commercial production.
Compared with SGZ and CGNR this is a steal.
H/T mineng on ADVFN
|https://www.miningmagazine.com/development/news/1403957/galantas-agrees-blasting-plan-at-omagh-gold-mine
That's a hell of a lot of mine for 9m.
Wonder what that's all about...?
My first reaction was it sounds a bit like desperation tbh. But I think the big issue here is that one of the things holding things up is regarding purchase of the land??? From posters here I believe that was mentioned in the recent AAZ presentation. I didn't read it myself, so could be wrong. But it could be a significant issue.
GAL top of the sector risers. Never thought I'd see the day. Let's hope they get funding and at reasonable cost.
after selling out all my small cap goldies early last week I managed to load up on the silver plays this morning. Up to break even already. Silver will go much higher yet so maybe food for thought for you all here. Get exposure before US open. FRES, HOC, UFO (in order of preference). Also, on IWeb, you can buy AG on the US open and in your ISA too?
Buying physical coins in Uk is a rip off. It may interest you guys to know that buying thru Bullionstar in Singapore is cheap and easy. More to the point, no problem getting thru Singapore customs. I have over 2700oz in physical and brought it to Philippines one monster box at a time. You can bring it in carry on. Customs guys will inspect but no worries and even a laugh from them. A small risk of confiscation UK side, of course.
Has anyone any experience of selling during an liquidity event. In march 2020, for example.
dibs. Yes. Thats why I sold out and will wait out this year until the market crashes. Each to thrir own but with such high valuations miners will crash along with everything if I'm right. Just reassess, that all.