Member Info for Newanda

MEM: possibly, but remember GGP had found "results for the first hole of the current drilling campaign (HAD005), reported on 19 November 2018, returned a combined intercept of 275m at 4.77g/t gold and 0.61% copper, including an upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m and a lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m." which aren't too shabby and what peaked Newcrest interest....

Rob1967: I hope so

Price catalysts:
1) Confirmation of Newmont payment of outstanding money
2) Exploration start date and plan
3) first results from drilling - if good expect significant kick up in share price
4) Once drilling is underway we can possibly expect a continuous flow of results, although Newcrest release drilling results quarterly for Havieron so Newmont may do the same.
5) other catalysts will be the confirmation of gold at the other sites, Jesuitas, La Cejita (which looks huge) etc.

It's worth looking at how the share price for GGP unfolded as an interesting analogue.

22nd May 2019 the share price was 1.68p and the Mcap was £64m and this is the date Newcrest announced the start of their drilling at Havieron.

25th July first Newcrest Havieron results with good results (52m @ 7.0 g/t ) share price hit 2.03 and Mcap hit £78m
Multiple drilling results and then regularly announced, Newcrest commence stage 2 - share price in range of £65 - £80m through period.

Then towards the end of January the share price started to take off, with the first catalyst being the inclusion of Havieron results in Newcrest quarterly exploration report (and this is where having majors releasing news helps)
Jan 30th: share price 3.49p and £134m. By Feb 11th share price 5.35p and Mcap £205m

And then the rest is history as more positive results hit quarter after quarter and the resource started to shape up.

So from drilling commencing and a £64m Mcap in May, to £205m Mcap by 11th Feb = 8.5 months.

We are currently sat at the point at which drilling is about to commence - so the OMI equivalent of GGP's May point. The rise in the share price will be determined by the speed of exploration, how many rigs etc. Newcrest had 6 rigs I think.

But IF we drill quickly AND we get consistently good drilling results AND we get continued commitment from our partners in 8 months time we could very easily be sat at £200m market cap, or £1.25 share price.

Rabito is spot on.

Slide 15 right hand side is the first 88 relevant data.

Then slide 53. Think about where our acreage begins.

So the guy who discovered the 3rd largest field in Alaska said "I have never seen anything like this in my entire career"

That sounds positive ;-)

Rabito - you watching?

Great slide showing Talitha reservoir and that straight line edge that hits 88 acreage ;-)

Reason for the rise is because yesterday was Thanksgiving in Canada and the TSX was closed for the day.

When the TSX opened at approx 1430 our time the Canadians clearly liked the update we got yesterday more than we did and the TSX climbed. We then followed suit.

A good day, and long may it continue. Next stop £50m mcap or £0.31 and then a breather whilst we await first drilling results.

A good set of drilling results and we're on our way to £100m quite swiftly I expect.

Need to see the exploration plan.

I'm commenting on your 1259 post which was specific to IW1, or at least that is how it is written.

I disagree with your statement on "positive news means nothing with this company". Positive news was released a few weeks ago and pushed the price to 0.45p.

My post is not irrelevant in my opinion. But then to your point, "where does the buyer find value?", the buyer finds value in spotting things others have not and waits for it to unfold and the rest of the world to cotton on. And maybe the buyer is wrong, and maybe my hypothesis is incorrect, but that's the risk I take. So either I'm wrong, and I lose money. Or you're wrong and I make money. That's how this works.

Don't think Rabito stated there was commercial oil in IW1.

He was pointing out that there were positive comments in the results relating to the Kuparuk which is true.

The fact remains there is a positive read across from the work PANR are doing and our acreage.

Ha - Jinx.

I'm in the same place Rabito, and your point on the "flat edges" is spot on per the PANR presentation I posted.

Hi SpineFX

A couple if things to ponder. The first is the acquisition of 69.1% WI in Great Bear acreage in September 2018.
https://wcsecure.weblink.com.au/pdf/88E/02027746.pdf

Important when you see the proximity to the mapped reservoirs PANR have - check out slide 11 in the below, there are better illustrations of where the reservoir runs to, but this gives you a good idea:
http://www.pantheonresources.com/investors/presentations/637-investor-presentation-alaska-september-2019/file

Referring to IW1, the thing that always puzzled me was this statement that never seemed to have any follow through:
https://www.lse.co.uk/rns/88E/icewine-1-final-drilling-update-ncas8q9943x3nus.html
· In addition to the unconventional HRZ play, a number of conventional reservoir targets were tested by the drilling of the Icewine#1 well with the following key highlights:
o Excellent reservoir was encountered over the Kuparuk sands interval from 11,262' - 11,320' with elevated gas readings over a 58 foot gross interval - a detailed petrophysical log interpretation is underway
o Preliminary log interpretation of the Kuparuk sand interval indicates porosities of up to 15% and good permeability
o The reservoir quality in this Kuparuk sand interval is substantially higher than anticipated, which is extremely positive for deeper conventional prospectivity on the Project Icewine acreage
· As reported previously, the shallow Brookian sequence intersected had excellent reservoir quality and hydrocarbon shows through out the section

I completely agree Rabito. I think many are missing the read across to 88e and the central fairway potential. Talitha very close to 88e acreage, some of which is shared PANR/88e land at the northern boundary.

Thanks for sharing - great video, very bullish.

FO update was most interesting for me, including the fact 2 more parties came to the dataroom after the last update which was deemed by Bob to be "a bit late to the party" inferring to me that they are well advanced.

Impossible to buy on HL, but can sell as many as I want. They need to take the price up and create a market.

I remain convinced this is heading to £50m mcap short term based on what we already know.

I then suspect the £100m mark will be breached when we get first set of results back with the big boys confirming and extending grades and strike.

Yup - that was quick :-)

Let's see how we get on - heading to new highs

Stubborn resistance here with L2 loaded 1:5

Break 19p and I think should run up

See what happens in TSX but might give us that kick up

Hi Johnnycash,

Nope it's 100% an estimate of the resource of APTA only, but this is not a negative. This is a positive, since it was issued the resource has been extended by 95m in depth (+33%) and is still open and is still open along strike. So we do not know the full extension of the mineralised system yet.

I was merely putting a "peg in the ground". I look at a £24m mcap company with £263m - £439m from relatively few holes and see what's coming and I feel confident.

Also the technical report (https://www.orosur.ca/images/TECHNICAL-REPORT_ANZ%C3%81-FINAL-24_01_2019.pdf) declines to make an estimate as not enough exploration has taken place. Worth noting in the context of the earlier estimate.

You may. I'm no pro at investing, so all teaching gratefully received :-)

On a separate note, I've just been digging back through the RNS's and stumbled across this from 2017 which I found useful to start putting a quantum on what we might have. This was prior to the drilling later in 2017, but I can't find an updated resource estimate.

"The resulting potential ranges between 1.6 M - 2.3 M tonnes averaging between 3.2 - 3.7g/t Au."

So 5.12M grammes to 8.5M grammes or 180k ounces to 300k ounces. So at £1,462.33 per ounce £263m to £439m. So let's start here as a resource estimate.

But remember this is based off APTA only, which is still open at depth and strike, and was before the second drilling campaign - Newmont swooped in before they needed to remodel I assume.

And there are 4 other targets and Charrascala has already had gold discoveries from only 5 drills (albeit significantly lower grades and intervals.

https://www.orosur.ca/files/2017-01-19-Colombia-PR-19-Jan-2017-FINAL.pdf

Orosur has completed a preliminary geological model for the Aragon-Pastorera Trend Area (“APTA”) of the
Anzá project, based predominantly on 17,408m of existing diamond core drilling data from 53 holes
previously drilled. 3,000m of this core has been re-logged, with special attention given to the lithology,
alteration suites, structural trends and grade distribution.
Based on this information, a geological estimate of an exploratory gold potential of a portion of the APTA
has been prepared with the assistance of Mine Development Associates (“MDA”) of Reno, Nevada. The
resulting potential ranges between 1.6 M - 2.3 M tonnes averaging between 3.2 - 3.7g/t Au. This estimate
is based on current drilling and is expected to grow as future exploration drilling is conducted.
The Company believes that the mineralized zones in the APTA continue, both at depth and at the surface,
to the north and south of the limited area which has been analysed to date and included in the preliminary
model. As such, there is the potential for a much larger resource base to be identified.
The APTA extends 2 km along strike of the vein-like deposit; but only accounts for a small portion of the
total Anzá project, which covers approximately 105 km² in total.

I wouldn't worry too much about the number of shares. I personally believe it to be misleading. The only thing I believe folk should worry about is the MCAP, and the Enterprise Value of a company versus the companies assets, strategy and plan.

A company worth £50m with 100 shares in issue or a company worth £50m with 1000 shares in issue is still valued at £50m and this is what matters. Unless the price of a single share makes the company harder to invest in as 1 share is too expensive for retail. Such as Tesla or Apple and their recent stock splits.

Also patience is definitely the key here. I bought GGP in 2016 at 0.016p, put in about £2.5k. I did well but got out at about 1.5p after Newmont backed out, had I have held then my investment would be worth £287k. Applying what I learnt on GGP to this, my thoughts are:
1) having a major onboard significantly derisks, having 2 majors derisks further - we are £24m mcap and there are companies with higher market caps with no partner and no significant discoveries who are working hard to get to the position we are enviably in
2) we have no need to raise capital - there should be no dilution to prove up the resource unlike many gold exploration companies on AIM so your share of the company will be unaffected
3) Once drilling commences, with each release of results the price will ratchet higher, as we've seen with GGP through Summer. And the nice thing is that the results will be announced by OMI, Newmont AND Agnico. The fact Newmont and Agnico will be announcing means many investors will see the results and it will be announced on 3 exchanges TSX, NYSE, LSE. This will give us significant coverage and should help drive demand.

Exciting times ahead I think.

Not scientific, but looking at other exploration companies at similar(ish) stages they tend to have MCAP around the £50m mark.

Artemis Resources - £75m (no partner)
Antipa - £61m (although has more JVs Newcrest, Rio etc)
Cabral Resources - £45m (no partner)
Ironridge Resources - £62m (no partner)

This will rerate to twice current market cap in the next few months in my humble opinion.