Member Info for luckyorange

It was like a good cop bad cop interview lol. Great mapping out of the assets and by the end of 2022 it will be a different company, none of the 4 big Chinese companies own a coal mine in the area and wouldn't be surprised if at least one of them doesn't make and improved offtake offer, worth listening to again .

Probably be an RNS tomorrow now , attention was on the gas producers today , daft to sell at the low but it is up to the individual .

Well max , they have absolutely no way of knowing when the assay results are going to be returned until they are and then it takes Adam a few days to disseminate write the RNS , pass it to the brokers and they may hand it back for some changes which may involve a comma or a full stop whilst they pass the information around to any who may wish to buy/sell based on the details within (surely they wouldn't do that would they ? Oh no they wouldn't ! ) Regulators have only just caught on the fact that people in the know have their own personal mobile phones and apps to speak to others outside the office
"Glenn Wilkins - Friday, December 17, 2021 Morgan to Pay Hefty Fine Concerning WhatsApp JPMorgan Chase (NYSE:JPM) is paying a $125-million fine to settle Securities and Exchange Commission charges that its Wall Street division allowed employees to use WhatsApp and other platforms to circumvent federal record-keeping laws."

I hope that statement was based on the assay office sending them back.

It may seem ridiculous but the information we receive or can gain access to is like a jigsaw puzzle , I really don't like puzzles and would prefer it explained by the company but they don't do that because it isn't nailed on .
The more I look the more confidence it gives me, what Craig has said many months ago is coming to fruition . Of course the grades on Creswick are important but those shoots have been explained and 003 which was a good one is near the Creswick property .
Their recce and samples off the property prior to the purchase was probably a pleasant surprise and the agent selling it mentioned they did find gold (he would though wouldn't he :-) )
As soon as the RC drill arrives it will be put into use on the Brewing Lane property (complete the plan guys) before going to areas like Blue Moon). The plan for months ahead was put together by the team , it is just a matter of thinking back , remembering it and having the light bulb moments!

Bailieston , let's have 10 and 11 and look back then on Craigs plans there as they are hitting the hotspot with two drills at the moment.

1 Licence Here
Approximate address: GWH9+QM Cabbage Tree VIC, Australia
Exploration Licence
EL006713
Status: Application
What this means: The licence holder can explore for minerals in the licence area.
Owner: Mercator Gold Australia Pty Limited, 2 McGowan Street, Bendigo, 3550
Commodities: Base Metals (copper / lead / zinc), Cobalt, Copper, Crystals, Diamonds, Gold, Kaolin, Silver, Molybdenum, Qua
Application Accepted Date: 31/03/2021
First Grant Date: N/A
Expiry Date: N/A
https://www.ecrminerals.com/images/Creswick_Map1.jpg

With ECR being the only applicant it would be a travesty if they are not granted 6713 joined on to the recently granted 6907 and the wholly owned 6184 that takes the whole licence right down the DMS from the recently acquired Creswick property to the edge of the Nerrina hot spot where they think that the DMS was the source of the Nerrina gold . https://earthresources.vic.gov.au/licensing-approvals/location-of-licences/licences-near-me#lat=-37.47056081857902&lng=143.9192288238419

It all gives clarity to what Craig could see in buying the property to put in the decline , there is a good reason for a JV right there !

I am sure everyone know what you meant (like it that bitty calls you mental :) )

I know , let's give ECR a damn good thrashing if anyone wants to sell ;)

Did an order get placed so they went down and took out a stop loss?
Someone wanted the money for christmas ?
Someone sold to chase another share or sold because there was no news this morning ?
Could be a lot of reasons and we will never know unless someone owns up lol.

Hell of a drop for a small amount of sells though. Someone did tell me once that over the christmas period it is only the office junior and the grumpy old timer manning the office / trades and that is why there are biggish moves on low volume.

China is an interesting one lol , even the quiet billionaires tend to disappear when the CCP wants money

"Have you been surprised by the recent sweeping crackdown of business executives such as Jack Ma, who were previously thought of as “untouchable?’”

Those people were never untouchables. If you look at the list of the “richest person in China”—I think it’s been published for over 20 years now—most of them haven’t done well. Maybe 40% ended up in jail and 80% of them drop out from the list for whatever reason. Thinking that anybody is untouchable just for having money is a joke. "

Money isn't a problem whilst they can sequester the billionaires assets , they have been buying physical gold whilst JPM has been playing with the market with the 'paper' gold they have been stockpiling . 'Face' is the most important aspect in China so I am interested to see how they will overcome the real estate stuff , sadly the net losers are the Chinese people and not the CCP but the property market has been ridiculous buying empty places doing nothing with them as they are less saleable (feng shui) and letting them inflate in price sell and then do similar, people never really own the properties as the CCP own all the land .
Despite what bitcoiners may say precious metals are understood worldwide as an asset for difficult times and gold is one of those.

Just a reminder to myself really that Balmaine one of the applicants on 7537 is Liongold which is Shen Yao by any other name . I thought they were the most likely to get the licence but because they are on the naughty step maybe they have messed on their own doorstep and will be overlooked .

That leaves Mercator , Red Rock and Loddon gold which is a private business , I am wondering if maybe it will come down to Red Rock and Mercator but it is a very sensitive area which of course Shen Yao has found out "Mercator Gold have purchased their own diamond drill rig for exploration in Victoria. This diamond rig will be available to use year-round and can fit in a sound-proofed container for drilling in the vicinity of residents. The diamond rig is capable of drilling in excess of 1,000 m (NQ) which is deeper than the target depths for the first few years of the program. Mercator Gold have an excellent diamond driller who is experienced in drilling soft and hard rock. The application area has some hard rock (eg basalt) and a soft, deep weathering profile plus sub-basaltic lead gravels. Drilling such areas require careful hole planning and quality drilling.
Other styles of drilling (eg RC or Air Core) are not considered suitable for testing the targets at this stage, but will be considered if targeting work demonstrates they may be justifiable. This may be more relevant in the greenfields portion of the licence." https://mercatorgold.com.au/services/ballarat-007537/ It would need larger investment than the other DMS tenements and take a lot longer (probably)
I am keener to see 6713 granted as I think that will be the making of ECR and fills the gap .... fingers crossed!

Different coal messi , thermal price in Zim is capped to $30/ton, met coal is the one they are going for.

The first quarter of next year should be very telling and interesting for contango , they owe us information on the gold , let's see if they have become luckier.

https://twitter.com/RoastPR CGO 36 minutes in.

As for the POG it is all smoke and mirrors and JPM will continue to manipulate as they see fit, don't know if Basel III restrictions on 'paper' transactions in January will have any impact , it's a coin toss!

I suppose people need to educate themselves as much as possible to be able to make a decision Legalwolf , not everyone does A useful site explaining what happens in the drill and why they come to the conclusions they do http://www.earthsci.org/education/fieldsk/drilling/drilling.html
Remember Craig saying they 'may' need a stronger compressor on the new drill with RC if they want to go deep? From the site above "RVC drilling requires much larger equipment, including a high capacity air compressor. The compressor forces air down the outer space of a double wall pipe (Figure 16 - 2). The air circulates back up through the inner pipe carrying the rock chips, which are recovered at the surface. The chips travel at such high velocity they must be slowed down first, using a “cyclone”. The “return pipe” directs the chips to glance off the inside wall of the cyclone chamber, and then spiral downward to the bottom of the cyclone, loosing velocity in the process. The chips are collected continuously as the drill advances into the ground. Drill pipes used for RVC drilling are usually either 6” or 8” in diameter and 20 feet in length. Each pipe is extremely heavy and requires the use of a winch to lift and position over the drill hole. "
And why Adam specifies true width of course , why it is important ... great explanation here https://www.geologyforinvestors.com/apparent-thickness-versus-true-thickness/ "It is important to know exactly what a company is reporting when they release drill results. Generally companies will either report “true width” or add a note below the results disclosing that the information provided is not a true thickness (or width). You can bet that if a report does not label an interval as a true thickness then it is NOT a true thickness. "

For Lubu they have moved away from those with deep pockets O&W hence the fundraise and explanation on the interview. So it is not what they have said but Gazzleberry will get to that and can make up his mind .
I think it is a walk away at the moment with the option to sell into the international markets but as you say we will see how it comes together.
As for the gold it has always been their intention to prove up as much as possible before looking for a partner , with going for the heap leach option of all the options , it is the least expensive for gold extraction.
They are definitely frugal .

Could you highlight them when you are done Gazzle?

Contango Holdings Plc is pleased to announce that it has raised £2,500,000 (before expenses) through a Placing of 41,666,666 New Ordinary Shares of GBP0.01 each ("Placing Shares") at a price of 6 pence per Placing Share (the "Placing"). Investors in the Placing will also receive one warrant per Placing Share to subscribe for one new ordinary share at a cost of 12p per share. The Placing was undertaken by its broker Brandon Hill Capital Limited.

The Singaporean owner of the Ballarat gold mine has suffered another hit to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company’s ability to trade as a going concern.

EY’s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of contravening the state’s top workplace safety law and adds to concerns about the future of the mine.

The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY’s assessment of Shen Yao’s accounts has shifted the spotlight to other aspects of the company’s conduct.

The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold.

Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company.

“We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,” EY said in the disclaimer of opinion it filed in relation to Shen Yao’s accounts.

https://www.afr.com/companies/mining/audit-blow-for-ballarat-gold-mine-owner-20211122-p59awg

Ken has spoken , called it down and cross ramped another share that's the way to do it!
Not personally expecting a Fosterville type find , just something a JV partner would be interested in would be sufficient for now , not just Victoria but there is Queensland as well , not as if ECR is overvalued currently is it!

Good ;-)