Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Delays because of heritage surveys still more to go. Gold focused . Maybe put out RNS for drilling sites. looking for joint venture in long term. Tracked drilling combination rig to help with water location for diamond drilling.
The cut off percentage will apply to any ore within the concept open pit and will be dependent on the poc. What would have been waste excavation can be processed economically adding to the overall recoverable tonnage.
1plus1 you are right I am guilty of a lazy answer. I was going from memory and went back to last year and found the article detailing the previous drilling.
https://www.google.com/url?q=https://wishbonegold.com/wp-content/uploads/2021/03/WSBN_RNS_Red_Setter_High_Resolution_Magnetic_Survey_Results_10jq210218.pdf&sa=U&ved=2ahUKEwjPypOQl4X3AhVOilwKHa_UBA8QFnoECAQQAg&usg=AOvVaw3bHVwKMAZpXqg9TmWZUU5f.
The parallel here is GGP and the potential rise in share price we could expect.
There will be dillution in the future which will stunt the share price but not the valuation of the company
so the question should be what value could be in the ground.
Cottesloe has a proven silver resource and therefore a value which would underpin any failure at
Redsetter.
Redsetter consists of four anomalys the largest being 1.5 km long but so far untested, although a previous drill did return chalcopyrite but unmineralized. There was a ground survey testing the geology but typical of of the company ther was no feedback on the results.
This lack of communication makes for nervous investors and a volatile share price so be in for a bumpy ride.
The present drilling is only exploratory using cheaper rotary percussion drilling. When and if targets are identified diamond drilling will be used, expect a fundraise for this phase.
Drilling at Cottesloe I would expect is more than covered by £4m raised previously.
WSBN is high risk reward a pure gamble.
The recent results at Scallywag show how unpredictable drilling can be, an early duster can mean that your just drilling in the wrong place.
Looks like the for sale board is up any interested parties apply.
What's included in the sale given this is a multi phorphry system and could stretch all the way to footroot.
There has to be a commercial open pit model for racecourse (in the bag) to the open the gambit.
But what value can be attributed to as another poster attributed to rumsfeldian unknowns, without endlessly drilling can we rely on ground surveys? Given that the IP signitures have been corroborated by the team in Australia.
The answer could be that the whole licence is put on the table allowing AA to to prove up the resource without conflict of interests from a third party. A win win for both sides providing they can agree on a buyout figure.
I get the impression Colin is frustrated with AA , saying " we have only one customer " .
Reading into that I would assume there has been no dialogue between the two although he goes on to say many Australian mining companies would be interested to build a a 25 year mine.
Any negotiations with AA could could lead to a stalemate and be drawn out, the whole theme of the interview is sell Bushranger at market value fast. Which is in the best interest of shareholders , well done Colin putting shareholders first of which you are one.
The way I see it is that there is no hurry to put sale board up. Colin is in a good negotiating position knowing he has a 2m tonne mine and will wait until the assays back it up. It would make a stronger hand to have confirmation of the he expected African income to finance drilling before any talks are held.
The big decision is when to stop drilling now the system has been extended. Drilling up an inferred resource would be the only option without running short of funds and not getting bogged down with a long expensive drilling program or JV.
Achieving that objective is a fine balance it's knowing when to quit while your ahead.
Reading last night's debacle, I realised my obsession with the share price had evaporated. The drivers of the market fear and greed had finally arrived.
For the first time in a year I am totally comfortable holding and have realised the disconnect in the share price or sale is out of our hands but will align again
A good read News.
I see 200,000 tonnes of copper per anum production is a benchmark majors would be looking for.
Going back to the original conceptual feasibility study figures are 100,000 tpy with a mine life of 9 years using the 71m tonnes JORC. With an increase in JORC it would be interesting to know the extra cost involved in capex to move above 200,000 typ.
I would also add that the value of the asset is increasing just sitting there by its rarity.
Theearner
All good points and wouldn't disagree with you.
The point is that the drilling results on observation aren't stunning, but adding them together and building a model to understand the scale of the deposit is fundamental to convincing the market to take notice,but sadly is taking time.
This one is a slow burner, building nicely from continued good assay results, unfortunately one bad result and the price could get hammered. A lot of investors are to cautious and are prepared to wait. The market wants income so African assets should provide that propulsion short term and Bushranger see's an approach from a major. As Colin says show me the money.
Investors seem to be obsessed with grades, a very blinkered view.
Gold prices are being eroded by bitcoin because of storage concerns with physical gold.
Copper is increasingly in demand and the price will reflect this meaning lower and lower grades will become economic to mine. Zak Mir is doing a copper special on Wednesday a must for anybody invested here.
Not to mention all the other factors involved in mining the location, jurisdiction and ease of extraction which BR comes out trumps.
This is a phorphry potentialy a multi phorphry system. If you read Icebergs blog (thankyou for fleshing out the bones, can't wait for the Christmas bumper editon) the geology is all there to see .
Who would you rather believe a respected poster here or someone on a board where xtract is a dirty word.
The commentary on slide 19 about chargerbility and the powerfully geophysical software the team are using would imply they already have a good indication of where to drill.
The quality of phase 2 assays appears to confirm accuracy of the modeling.
Looking forward to the next presentation.