Member Info for Markyess

Quite reasonably, Prop. As at today, with just the DFS'd reserves - we're looking at around AU$450-500m. That includes no consideration of Blue Spec.

We have a significant parcel of inferred and indicated at Warrawoona alone that would dwarf that EV once raised to measured. The BFS was highly conservative - which I think does us credit and puts us in very promising standing.

Oh - and then there's Otway, too....

I'm looking for an escape from Halifax with my Calidus shareholding - fortunately, I've dodged the issues at Barclays.

That said, I'm holding fire until the relative stability of the new year, when full construction commences before triggering a transfer order.

Let's also revisit this conversation once the Blue Spec scoping study is published and the transaction is completed - as I believe it will lead to a material difference on reserves and grade....

I'd say they are a little more mature than us, Prop. Similar concepts of consolidating historic mineral rich tenements. They are more advanced in having proven up around 2.2m oz (approx 1.8g/tonne) in mineral reserves, we're at around 1.25m oz (1.2g/tonne) in reserves, but both companies have undrilled tenements and projects that can lead to expansion in EV.

Our initial EV would be around 40-50% of De Greys, IMO, but at very low risk and with potential to grow to a similar scale in relatively short order, given the immortal 'open on strike at length and depth' and the untapped potential at Otway.

Hope that is helpful.

It was the Iron Ore plays that originally interested me with the company. I was in two other iron juniors at the time - including Beowulf Mining (BEM) whose license woes in a first world country make ours look like childs play. I still reckon I might be able to creep back in there with some profit from here inside the next 2-3 years before they take off!

The collapse of the AA/Kumba deal was a killer for us. We did well to survive it and resurrect with the gold plays.

I can't remember for the life of me. We sure as heck didn't have over 4bn issued shares, though.

Yep, the first tranche I bought for my nephew (he was born when Ferrex floated) were at 4p a share.

He's now of an age where I can actually hold reasonable conversations with him about what the company actually does. Oddly enough, a 9 year old boy is far more interested in the gold company 'he owns', than the 'funny word with m'.

Worryingly, he keeps asking me who he can sack.

Pinch of salt.

A few years ago, when DR was helming this particular ship, he rated his own chances of securing the permit pretty highly.

It may come in November, it may take a bit longer.

FWIW, I'm highly confident it will come, but I'm not prepared to put a timeline on it, I'm certainly not staking my mortgage on it absolutely being November. From a market perspective, DR's opinion is worth the same as any of ours on this particular piece of deeply desired newsflow - absolutely nothing at all.

This really is humour at its most bass.

You should all be band.

Hey Jim, you may be our resident Victor Meldrew, but that's why we love you!

It'd be very dull if we didn't have things questioned and put up for debate. As you said, we all want the same thing.

Thanks Andee - well, that's definitely whet my appetite!

Haha, no fortunately, I don't watch any of our wonderful national 'treasures' that we call soap operas. I'm not a big TV watcher in general, but I might make an exception for something on Aussie gold.

Hang on.... there's a long running TV series focused on Aussie gold?? That's my quiet evenings filled! (If I can find a good streaming service)

Have another read of the post a few down by moonparty. He expresses it far more eloquently than me.

One of the compelling points is that we need to be aware Nayega is company making for Keras, it's not big enough to be country making for Togo. Beneficial, yes, but not first line of business.

It takes two parties to make a business deal. It's is eminently feasible for one side to be unaware of further restrictions when the other side is as economically under developed, and financially underpinned by a third party (such as World Bank). There are always unknown unknowns when dealing with any other party.

Frankly, I don't see what any of us achieve or gain by pessimism nor writing it off at this juncture.

Given the above, you're looking for answers you'll never get publicly from the company, as it may undermine our business partner which would definitely make the projects failure self fulfilling.

There's probably only so much that can be said without jeopardising the relationship through finger pointing.

As I said earlier, we're dealing with a highly under developed country. We can't judge business as if it's a first or second world nation.

We haven't actually handed over 10% of the company yet... it is on receipt of the license. I'd have a little bet that we give away less than 10% in the new terms...

Anyone seen the Dave Reeves interview with Samso?

https : // www.proactiveinvestors.com.au/companies/news/931242/coffee-with-samso-the-next-gold-miner-in-the-pilbara-goldfields-931242.html (Remove the 3 spaces at the front)

Dave has such a bad poker face. The 'shows' when he talks about the scoping study at Blue Spec and pending drill results. He had to fight himself not to jump on the table and do a celebratory dance, such was the smirk that crossed his face.

Cracking post! Thank you moonparty

I'm 100% certain that Russell said either in an interview of an RNS that the team that is permanently on site in Nayega is perfectly competent to handle the issue of the license in the absence of the C-Suite team.

To your point, I think the photo opportunity is key - and I would be prepared to place a sizable wager that the photo opportunity of issuing the permit and shaking the hands of the C-Suite of a global miner would be a valuable commodity to the Togolese President/government. In short - I don't believe that Togo would issue the license without the photo opportunity. Just my opinion.