Member Info for lptuf93

Excellent podcast, best to date. So should be expecting a few hundred meters in and around the North-east section of JK where 100m + @ 1g/t were reported as well as new anomalies being targeted. A whole 2,500m just for Carolina Belle is enormous - a lot of geo work has gone in so they will want the drill bit to show that.

I'm glad Bernard explained why none of the geowork has been illustrated through maps and diagrams - I'm fully supportive of this approach and hope we keep claiming the most prospective tenements in the area. Completely trust management and their approach to realize value for shareholders.

Incredibly excited for some of the strikes that should hopefully be reported prior to xmas.

Little bit of drift but you saw similar price action between January to May whilst Pure Ice was buying prior to Loflin holes. Rig should be onsite next week - expect drilling to be quick & efficient as well as reasonable turnaround from Canadian labs. Hoping for first few holes by early December and that should really get us moving.

Looks a big number (10x MC) but once you strip studies/PFS, financing & CAPEX, the IRR is likely to be paltry. But definitely a base to work on. I'd be disappointed if after 2x5,000m campaign across JKL we weren't closer to 0.3mOz in situ. JK has a lot of historical drilling similar to Loflin. Geo work should help us pinpoint the best drilling locations.

Can't wait for drilling to kickoff.

Traders will buy the rumour and sell on news irrespective of fundamentals. Smart money bought big a while ago (and still adding). Just hold tight as we got more good stuff incoming.

Reserve report smart by management. Remember from initial documents if reserves were greater than a certain amount (at variable grades), a payment of some kind needed to be made. Management able to sidestep this but still have solid foundations through this reserve to move the company higher. Drilling 5,000m will be massive. Also Canadian labs seem a lot quicker than South American/Australian counterparts which is good.

Very odd. Pure Ice likely took another 2x250k. Also a few 100k trades going through above mid so very good buying. Strange how this one is still under the radar. Think we'll be the other side of 6p when news starts dropping and then closer to 10p when the herd cotton on.

Just like our previous breakout, Pure Ice loading up beforehand. 6.5p will be the next support. Too much going on here, grab some in the 4s before we get moving.

Is that another 250k trade...

I've counted atleast 4x 250k buys over the last few sessions aswell. Clear accumulation as we saw Pure Ice doing this prior to first move to 6p. Could easily be another fund or quite possibly a PI with a good broker. Much more news this time round compared to early summer though... Be silly to leave the party in the single digits the way this one is setting up.

My first target would be 11.5/12p after we break through the 6s. I think that's very realistic given the newsflow incoming. I'd hope we get our first few drill results in early November.

Took 50k at 3.675p. Absolute bargain. Expect market to pick up in a couple weeks with volume returning to the market as well as high impact newsflow (JORC-resource, permits followed by drilling for end of Sept on 3 different targets).

I hear what you're saying. The only other option is to start using the drawdown facility in Morocco to go after potential targets they have conviction in if they don't want to use cashflow from operations but that has its own problems.

Hinted previously at other assets. Considering where we are with Egypt and Morocco, might not be the craziest idea if they find something really good. Otherwise maybe use any money raised to really go at Morocco deep targets if they think they'll be considerably bigger than the normal ~1bcf finds they are currently making.

Only downside is the geo interpretation by Core Geophysics hasn't been released (although company have it and are using it to base current drill campaign). Would be great if they could release that to investors.

Maybe in an updated presentation in the near future?

It always amazes me how people think a not-positive thought means they're shorting/deramping a share. Unfortunate reality is this share doesn't need any deramping and if you think differently, look at the past 24-36months of the share movement. Everytime Shakey says something, everyone jumps on him for being a deramper. I've frequented this board since SD-1X was drilled (gas & prospective oil) and shakey always seems to give a balanced view WHERE IT IS APPROPRIATE. Yes, Shakey is quite negative but can you blame them given what's happened & are they wrong? At this moment in time, there a few positive notes and I feel like some on this board are really, really trying to playdown the downside with the argument "we are so low we cant' really much further". I also think this is undervalued, but the constant poor news e.g Hanut miss, spending increases etc. will just cause further downward pressure. For all of PW's shortcomings, atleast the guy had charisma (albeit chewed off more than he could handle). Where do management go from here? Recent interview was a disgrace considering performance and do they just expect investors to sit in the doldrums until 2022 campaign begins.

Considering Egyptian cut and relatively small reserves, could there be a possibility of selling Meseda/Rabul for a decent amount? I've punted in this prior to Hanut but really don't where management are going here.

Agree. It's time to dispose of an asset (Morocco?) and return something meaningful to investors. Can they run one of their assets for a while on just workovers to maintain production & build cash? I recently bought back in for SD campaign. Don't think I've ever done well going for seconds...

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.

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.