Member Info for Metalhead25

I didn’t say we need to find a lot more to make it economic - far from it. 2 MoZ is great already. I said that increasing scale can lead to rapidly increasing value

This board has always had its EH enthusiasts and it’s Hanc0ck enthusiasts. Personally I’m both, and am in favour of the diversification. If iron ore DSO stays above $100, Brockman comes good, and EH Munni Munni doesn’t deliver as much as we hope we’ll wish we avoided dilution of the Hanc0ck project. If iron ore DSO price goes down we already know the plan for that is to mothball and wait for it to come back up - in that case, and particularly if EH Munni Munni has Julimar potential, we’ll be v glad we did it this way. I think the balance of risk is reasonable

Yep, I agree that’s part of it as well. There will be other factors too, no doubt. But I do think the key to these projects is to make it worth mining them, and that putting together adjoining resources is an excellent way to do that

Max, I agree. Smiller, got lots of time for you but think you’re wrong on this. The key to getting value out of projects like EH, Munni Munni North and Munni Munni is scale. Why is it that Munni Munni has 2MoZ PGMs and is worth $7m while Chalice’s Julimar has 10MoZ and is worth $3bn? In large part, the difference is that bit of extra scale that makes it worth mining, and crucially worth mining for a major. Bill is very cleverly putting licences together in the EH area which are cheap individually but which together, with a bit more work to bring them on, could really start to close that value gap to Julimar. Great move IMO

5x5, agreed. And I think the one thing that is clear beyond any doubt is that there is nothing at all priced into the SP for Brockman, even though that is expected to be significantly larger than Hanc0ck

£10k top up for me in the last few mins before close. I paid 0.66 which is only slightly over half what the SP ran to on the Hanc0ck scoping study - a project we still have and which has since benefitted from an improving iron ore price

Hi JDough. I suspect, as someone mentioned the other day, that short term investors/traders take the view that not much is going to happen here now until early/mid January and that they can try to make a buck elsewhere for a few weeks before coming back here. May turn out that way, or they may find they’re late getting back in. I will be looking at any weakness as a top up opportunity (although I really shouldn’t…)

My post crossed with Keith’s - please ignore mine in favour of the guy who knows what he’s talking about!!!

I have read that magnetite on its own is generally a fairly poor conductor (I think because it tends to be quite granular) but that magnetite plus metal sulphides can be better. Our reading is very high so hopefully if we have some magnetite plus sulphides the sulphides portion is very substantial. Of course, the other crucial question is what the sulphides are - if we have 7% copper sulphide and 7% nickel sulphide I don’t think we care much whether the rest is pure iron sulphide or partly magnetite

Hi Ella

Interesting messages, thanks. No, I haven’t found anything simple. I have found various quite technical and complex things which I have tried to follow but which I don’t feel confident I have really understood!

Ella, I did ask Ben if conductivity is just conductance divided by depth and he said no, it’s more complicated. The reading I’ve done supports that too - conductance appears to depend on conductivity, depth and cross-sectional area. Presumably, therefore, it also depends on the angle at which the EM signal passes through

Ok, if me and you ever find 30 million cubic metres of gold and 30 million cubic metres of nickel, I’ll take the gold and you take the nickel, agreed? :-)

Hi Noodle

I disagree. Having several projects allows more efficient project management overall, minimising unproductive downtime. Also, an advantage of having a larger team is that they should be able to cope with several projects. I like the fact that we have numerous opportunities for success across what is still a focussed portfolio. I often look at POW (not invested there) and wonder how one small company can possibly progress that huge and miscellaneous array of projects, but I don’t think KAV has anything like the same issue. As for the projects themselves, generally I think they look very promising. The only one I’m not too fussed about is Ditau but that may be because I haven’t understood it properly

Keith, happy Christmas to you, and thank you for taking the time throughout this year to bring your knowledge to the board and share it with us. It is much appreciated

A lesson for everyone about reading too much into silence. The hole is not even close to TD!

Clearly challenging conditions, not so much for drilling per se, but for getting DHEM. They really need an engineering solution for that for future campaigns. As I’ve said before, I’m simply not having it that it’s not possible to have a non-metallic casing. Spectral need to acquire one. If nobody has invented one yet, Spectral should invent one. Nice USP for them in future :-)

No RNS yet, but an interesting tweet from Ben overnight about mining in western Botswana

Thanks ReasonMan, much appreciated

Hi all

I haven’t looked at this board for a week or so and don’t really want to read the hundreds of messages. What I have noticed is that we discovered a new porphyry and promptly tanked 20%. Is anyone able to explain what on earth is going on?? Any known problems cropping up in the past week?

If there’s nothing, this share price seems like a serious steal and I think I’ll buy some more

Knickerbocker glory, please ;-)

What would you prefer? Massive sulphides or magnetite with copper and gold pushed up from Proterozoic??