Member Info for NomZ

Or their stake will increase if they put up the funds themselves...

Gold Fields completely mismanaged Damang. The end result was that when they did decide to continue they needed to do a massive cutback in the pit at huge cost. $1.3B (yes billion!) http://www.miningmx.com/news/gold/28276-gold-fields-invest-1-4-billion-ghanas-damang-mine/ How much of that has been invested to date I don't know, or how much more would be needed. Those numbers will dictate if its a good potential deal or not. The Asanko deal IMHO isn't the greatest, but it is a good fit for GF as they can shift everything directly from Tarkwa. I still think they overpaid but with Zijin sniffing around their hand was forced.

And yet Gold Fields are happy to pay 200M for 50% of Asanko, a project with lower grades and much higher AISC than Yanfolila. Big companies need long life mines and revenue streams. And it does mean something for HUM - they got a bargain.

Lets wait and see some assay results before drawing any conclusions. Referring to Sanankoro as a "discovery" is becoming a bit tedious. The project was previously drilled by both Randgold and Goldfields and has a massive artisanal site on top of it. So to claim it as a discovery is nonsense.

Their Q3 2017 AISC was 975$/oz which isn't great at all. That's what happens when the grade is 1.5g/t. You can make your own comparisons with HUM. What they do have is LOM, which is the one thing HUM need to address, but I think they will with some focused exploration.

Tarkwa is winding down so Gold Fields need something urgently/desperately. This is a low grade orebody but they have similar experience at Tarkwa. Personally I think they overpaid, but what do I know? None of the other majors would be interested in this one. There have also been a lot of rumours about the integrity of the resource, not just from the well known Muddy Waters review... Asanko will be delighted.

FWIW, I've worked in the gold industry in Africa for nearly thirty years, and this is as good an early stage project as I've seen in a long time. I swore I wouldn't invest in any AIM miners again given the long list of recent debacles, but I've made an exception for this one. The most important numbers are the grade and recovery. 2.95g/t over LOM and >93% recovery are exceptional, and thats why AISC is sub $650, which is again exceptional. LOM is an issue for sure, but they haven't even properly begun exploration yet, so there will be plenty more resources to come. And I'm very impressed with DB (Betts not Brent) and getting name checked by Rick Rule is quite an endorsement.

Ha ha One company I followed (ASA) had one persistent �break out tomorrow� and �I�ve heard from the horse�s mouth� buffoon. The company is now in Administration, insolvent, has been delisted and shares cancelled. :-)

MASSIVE BREAK OUT TOMORROW! How many times have I heard that over the years....

So somebody got one right for a change. I don�t know how many times I�ve been given �horses mouth� tips, only for nothing to happen. As with all gamblers there is a selective memory when it comes to wins. Let�s just forget about all the others. You are reading way too much into this. Of course there is info leaked/distributed, that�s just the way of the world. Get over it. But I assure you if I had acted on every single �buy tomorrow� tip I�d had I would have lost more than I gained.

And they already have the Kalana mine just down the road

Ha ha, maybe not

Although CON does seem like a perfect name for an AIM company

Sorry CGNR not CON

Unfortunately just another in a long line of failed mining companies on AIM ASA, SMA, ALO, AVM, CON etc.. etc...

I think part of the reason the VG share price dropped is because SMA dumped their shares. Also some local politics in Guinea. But they have picked up ground in Ivory Coast as well so I think this wll do fine in the mid-long run

And what happens now with the Smelter project? Do they continue to use Ning's contractors until it's finished? I doubt it. They don't have any money anyway so I expect it to be put "on hold"....

If you want to DYOR then find a copy of the smelter prospectus and compare their predicted figures for nickel price, tonnes mined and grade to what they are currently mining. Any chance of some recent results??? Anyway my main points concern the operational mistakes made by Ning to cut costs i.e. High grading and development cut backs. Two surefire ways to kill a mine. The decision to delay the shaft deepening in particular. Without access to high grade ore BNC fails. And without the shaft deepening they will run out of high grade very soon, if they haven't already. Of course this will cost money and they don't have any. So I'd just like an update. The silence is deafening. As for agendas I have none other than the truth to be exposed. As a Zimbo myself I want the resources of the country to be developed properly. Unfortunately both the previous and current management failed to do this. The only solution is a total clear out at every level, but in the case of BNC it could be too late

If you DYOR you will see that this company is a basket case. BNC barely broke even in first quarter if the year. Where are the Q2 results? There was no sign of them even before the takeover bid. That speaks volumes. Ning cut back on development, especially the shaft deepening project, so access to high grade ore will run out, if it hasn't already. BNC cannot make money without high grade ore. And they now have no money to complete the shaft. Then theres the smelter which I've said from day one is a white elephant. It also needs high grade to work so there simply isn't anything to put in it. It won't fly at current Ni prices anyway. One of the first things ning did was put his own contractors in place. Make of that what you will. Is he worried that it is over budget and over time. How much have they spent on this? Are they going to stick with nings contractors? And what is the status of the 20M bond? Has Ning been paying it back? We've only been made aware of irregularities at Freda. Does anyone believe BNC will be any different? BNC is in big, big trouble

I've spoken to two investors who would have bettered the Volcanic deal. Nobody was expecting them to give it away for so little. Like I said I don't think they tried too hard.