George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
I know interest has pivoted to S.Africa but worth noting an interesting update from Carolina Rush Corp (TSX:RUSH) who owns and are exploring the former Brewer mine.
Just hit a new zone separate south of Brewer in the Tanyard Zone intercepting 62.5m @ 8.5g/t only 110m from surface. Will be keeping an eye on their drill campaign to follow these hits up.
Jeeez, an operating copper mine in Kaz with a grade of less than 0.1% Cu. AND it's still in the lowest quartile cash cost globally. Kazakhstan offers unreal economics for what would otherwise be uncommercial grades. And here we are with 1%+...
The only realistic valuation for a pre-revenue explo mining company is based off independently verified resource/reserves. We should hopefully have that here in Q1. Factoring in expected gold grades, the open pit portion is looking like ~5mt @ 2% CuEq for 100,000t of Copper Equiv. Most in-situ copper deposits are valued at 4c/lb. 100kt = 220m lb Cu = $8.82m = £6.94m. At the current share count, £6.94m equates to around 3.175p.
And that just covers Verkhuba open pit...
Exactly Crofton. They also announced Pallas, another Kazak focused explorer (private), as one of the other 6 partnered juniors. So a 3rd of their accelerated programme is specifically focused in Kazakhstan. Hugely positive as they see it as a production hub alongside the other established majors like FQM, Fortesque, Glencore etc.
So that poses more questions than it answers.
May 9th, 2023 news release - "Rome is also a party to an option agreement (“Option Agreement”) with CoTinCo dated August 15, 2022 pursuant to which it was granted two options by CoTinCo to acquire up to a 51% undivided interest in the Bisie North-East Exploration Permit 15130. Following its exercise of the first option under the Option Agreement, Rome has earned a 25% interest in and to the Bisie North-East Exploration Permit 15130. By exercising its second option under the Option Agreement, Rome can increase its interest in Mont Agoma by an additional 26%, and by acquiring a 15% interest in Mont Agoma from Palm, Rome can acquire up to a total 66% interest in Mont Agoma."
So does the presentation mean RMR can hold upto 85% in PR15130 (Mont Agoma) & upto 72.5% in PEPM13274?
I've been following RMR over on ceo.ca for a number of weeks now - had no idea Mark was on the board of PFP but now the deal makes a bit more sense. It's really interesting that access to capital is one of the reasons for coming over to London - I always assumed TSX was the venture for serious mining explorers.
Mark made some pretty interesting comments in May after their initial drilling results - "Previous experience in working in similar environments has shown that a centimetre wide cassiterite (tin) zone or vein at shallow intervals can blow out into a 20 to 30m wide mineralised zone at depth or along strike." In the context of the adjoining license looking to produce 7% of the worlds Tin supply next year, you can see why they're so thrilled with these small Tin intercepts at surface...
Company they're acquiring is primarily a tin explorer - however they have found interesting amounts of copper and zinc. I have quite a few questions about Romes owndership structure. From reading the license news releases over the past 12months am I right in thinking they can own upto 51.475% of license PEPM13274 & 66% of license PR15130 (Mount Agoma)?
Yep but with inflation coming down globally, things maybe turning soon. Rate rises seemingly are over - all the attention now is how quickly the cuts come. I think they could be as early as end of Q1 2024. Is this the bottom for metals equities?
Seems like they're on the charm offensive now that they have some indications what the grades might look like. Not listened to the stockbox interview yet but the proactive one was really helpful in understanding todays RNS. For the first time in a long while, things are starting to look back on track.
Alex was talking in code. I suspect that was intentional to spin it somewhere down the line incase news isn't as we expect. Sounds like some of the holes didn't come in as expected so they've almost gone back to the drawing board with more geological surveys prior to RC campaign. Suspect we're not gunna get anywhere near 3,000m drilled either which would be disappointing. Upside tho would be thicker intersections than currently modelled so not all grim. Understand why he's looking for multiple targets but this propsect was near enough in the bag. Really dropped the ball here.
Exactly. A second campaign probably won't be until May earliest given drilling seasons so JORC now Summer 2024? Poor show imo from what was such low-hanging fruit. Not sure where stimulus is really coming from atm as we've only heard back on 4 holes so far. Assays in December I guess?
Glad it's a small raise. Disappointed with the warrant strike price but all in, not a bad funding. Glad to see the funds progress all the Rudny-Altai projects. As you say, multiple low-hanging fruit opportunities.
Could accept a small placing to keep things ticking over. Needs to be minimum dilution and hopefully strongly backed from existing TR-1 holders. Seen it down by a couple juniors just to reassure the market over against a funding crisis. I feel like its too heavily backed here by mgmt/large holders to see your usual AIM dilution...