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What an update! 5,000m RC between Carolina Belle & JKL is huge, with crews starting in 4 weeks. Hopefuly get some twin/infill-like holes on Jones-Keystone to confirm previous grades as part of potential resource establislishment - expecting ~50m @1g/t. Targetting new anomalies picked at Loflin by Fixed-wing survey and historical geophysics - confident of further good grades. From memory, there was a large magnetic anomaly to the south of the current holes which coincides nicely with the new land package we picked up prior to Phase 1 drilling. Carolina Belle will definitely surprise to the upside onsidering previous mined area & new soil anomaly identified (just my opinion). Resource in a few weeks too!
Can't see SP being down here come October/November.
Would be a valid point if we were a production company but we're an exploratory play. Therefore it's more important that Bernard has planned, drilled and formed a resource elsewhere as that's the goal here as stated multiple times on this thread as well as interviews.
This is getting a bit embarrassing now Mark.
I'm hearing there are problems at Pello Capital (similar to Beaufort/SVS). Selling from some holders there? Thinking out loud.
Pancon (TSX:PUC) announced another set of positive drills on the former Brewer mine. 106m @ 1.07g/t Au & 0.26% Cu (106m @ 1.49g/t AuEq) at Hole 8. These intercepts are below the former pit mine.
They are one step ahead of us - completed preliminary Geophysics and used it to guide drilling. Current market cap ~£20m equiv. No reason we can't get to that figure with incoming geophysics & phase 2 campaign. Equivalent to 8p (but definitely think we can go further).
Agree Maestro. Look at ADV & CHAR - not drilling for a little while but having a great run. I reckon we get success/duster within 2 weeks. IY2 was 8,000ft and took 2 weeks to report, Hanut is 5,000-6,000ft. Not long before we know.
If it is successful, I really hope we some strong, aggressive PR.
Mark, I know you said if. My question is why on earth would you make a statement like that considering we've had no negative news. No board members selling shares. No problems with litigation. That random statement made absolutely no sense given the context.
Regarding the boards intentions, do you read the RNS issued at Lex? Refer to 23/6/21 - Operational update. Details their exact intention over the next 6-9months. Engage with Pivot mining consultant for resource or plan to form a resource. Soil/Rock sampling complete, awaiting results (since received). Core Geophysics to interpret VTEM/fixed-wing survey as well surface sampling to plan phase 2 drilling campaign. Dr Oliver stated in recent TMS interview that RC drilling is uncommon in the state's so procurement lead times are longer. They've been delivering on what they've said since November, why would I stop trusting them now? They've got pedigree too - Bernard has successfully drilled and formed a resource elsewhere (Mankayan). Drilling and producing couldn't be any different which is why the goal here is to sell once a large enough resource has been compiled. Then they'll likely form another company with a new exploratory prospect. It's not rocket science.
As for the share price, I assume you haven't been investing very long. It's not called the summer doldrums for no reason! There is and hasn't been much liquidity across aim over the last 2 months as is normal over summer (last year being quite exceptional). Usually liquidity comes back in September (and for exceptional news releases). As for the share price, it's consistently forming new higher lows over the medium term which is fantastic. As an investor, you're not looking for spikes (unless you're trading but how do you trade something that is quite illiquid with wide spreads?). If you're looking for 10p tomorrow, I suggest having a look at other stocks.
Maybe in the future you'll make statements backedby facts rather than random posts that could be replicated on any LSE board with no knowledge whatsoever.
Mark, in what world would you constrew this board as conmen considering what they have done since the rebrand? Are they affiliated to cronies like Andrew Bell? Maybe Colin Bird? If the answer is no/no world, why would you think we wouldn't benefit from mining rights being sold (whenever that happens)? There are very few realistic scenarios where we lose out considering the gold price and the gold we already know exists.
Honestly, where do PIs come up with this utter garbage.
Been out of the loop for a while. Whatever happened to the deeper oil targets?
Not sure of the comparison - very apple to oranges. Cora have ploughed in 1000s of metres compared to us so we're much further down the value curve. Also, the intercept (19m@ 31g/t) was world class. I'm shocked they're not much higher. Summer doldrums I'd say. Think we'll do well come sept/Oct.
Wait a sec. Is this same circle Oil that SDX bought out a few years ago for Egyptian/Moroccan assets?
I agree RE:plenty of land but one thing that Romarco did when they were planning Haile programme(s) was subtly acquire land adjacent to their current holdings - to the tune of $10mn over 5 years. Whilst the data is limited, the longest & highest intercepts were in the northeast corner of JK license. Similarly to Loflin, their best intercepts were in the southwest corridor of the license and they acquired the adjacent licenses as well as a package towards JK. I hope they plan to do the same with JK even if they don't intend to drill it anytime soon.
Just listened to TMS podcast - you were right, RC drilling on the agenda for Q3. So glad we've opted for cost-efficient programmes utilizing RC or auger drilling. JK up next. Hope for 2,500m+ campaign. Wonder if they're grabbing more licenses in the adjacent northeast land package next to 100m+ @1g/t+ interval...
"A drilling campaign is currently being planned for the Carolina Belle Project and dependent on drill rig suitability and availability, will be incorporated into the Phase 2 drilling campaign for JKL"
One of the points that really struck me - emphasis on suitability. Is depth an issue with current rig? How far are they thinking of going? Geology at depth different to what they expected?
Board has set out the plan for the rest of the year. Delivered so far with JKL drilling (and impressive results). Truly believe work done by Core Geophysics will set out the roadmap and it's what I'm most excited for. Drill some, big raise, followed by another bigger campaign (is 10,000m DD wishful thinking?) and I honestly don't think a resource of 1m oz gold is beyond us.
And that's just at JKL.
Likely just poor market, coupled with bored PIs. Similar antics occurred when we were pushing 4p between Feb & May. No large sells were ever really reported afterhours - only buys and subsequent TR-1s from Pure Ice. Thought exploration update was very good and likely see a move back to 6p in the near-term.
100% RE: drill plans. Why not release the VTEM/fixed-wing surveys as they been processed & will be the model behind the forthcoming drill program. As for cash position, I'm not sure. The geo + small phase 1 campaign has burnt through atleast half the cash position as DD + adv. geowork is exp. Would expect phase 2 to be subtantial - min. 3000m going 200m+ per hole (depending on IP results). Could maybe auger and then finish with DD to save costs. However, I think if they release the geo and a bit more info on phase 2 + maybe a new presentation outlining the recent success, they can place higher up. Definitely think there's more to our run before another placement.