Member Info for Otago

A bit of googling confirms information in the public domain:
http://www.shorelinenaturalresources.com/new/meet-the-team/

If Copl ran out of cash months ago that didn’t stop them filing form 7 in November, December, January.. clearly they will need cash at some point -it has no income- but if the conditions to release the finance have finally been met...

Any farm in partner would require this hurdle sorting before inking any deal. So a necessary tick box in the process.

The volume over the past 3 sessions has been around 300m. That is huge. What some numpty on a bb says or does is irrelevant in the scheme of things. There is clearly a reason for that volume and I can only assume we will shortly find out why. I would rather be in than out based on the fact that news on several fronts is due.

Whether the suitor is Shell or Exxon, either would be welcome!! From the major’s perspective (whoever it might be) I agree it makes more sense from their perspective to sign up prior to the Venus well spudding otherwise they could find themselves paying considerably more for the same interest.

This from November looks interesting

https://www.upstreamonline.com/exploration/shell-mulls-options-for-namibia-wildcat/2-1-701237

How many more of these are going to land?

That drill hole did indeed hit mineralisation after identifying it on the survey.

Tue, 15th Oct 2019 09:56

RNS Number : 9122P
Rockfire Resources PLC
15 October 2019

15 October 2019

Rockfire Resources plc

("Rockfire" or the "Company")

Geophysics highlights large anomalies at Plateau

Rockfire Resources plc (LON: ROCK), the gold and base-metal focused explorer, announces that it has recently completed reprocessing of historical geophysical data from its 100%-owned Plateau Gold Deposit in Queensland, Australia. This historical geophysical data has been reprocessed using modern computing methods which were not used when the data was originally collected in 1985. The reprocessing has highlighted a number of large chargeable responses which will be tested during the current drilling program.

· Multiple, high chargeability zones occur over a distance of over 500m;



· The strongest chargeable response starts at around 70m below surface and extends to depth;



· Chargeability zones remain open along strike and at depth;



· Current Plateau gold resource is 1,147,000 tonnes @ 1.1 g/t Au for 40,000 ounces of gold;



· A single drill hole is planned as part of the current drilling program to drill into the centre of one of the chargeable responses to test for gold mineralisation down to 200m.

The issue is whether the warrant holders are forced to sell once the accelerator provision is triggered. They won’t be able to drip feed then as it will be a case of exercise or lose them.

1. The warrants can be exercised whenever the holder chooses; but
2. If the price stays over 2p for 5 consecutive days the company can demand they be exercised failing which the holder loses them.

It follows that it is in the company’s interest for the accelerator provision to be triggered as it brings in the warrant cash on exercise. This in turn means it less likely there will be a placing in the near term as the company will be cashed up.

Just use the report button

This is key part from RNS for me:

A geophysical survey which is designed to detect anomalies to depths of ~500m below surface has recently been completed at Plateau. The raw results are currently being processed;

This survey is looking to find the source of the mineralisation at depth. This is where the higher grade gold is likely to be. The company clearly confident that the signs are pointing to a huge beast at depth. If this is identified all bets are off and multibags quickly. The fact they keep referencing a 10m oz neighbour is significant. They know they have monster on their hands imo.

If the application was made in September as I suspect then licence news could land anytime.

From Friday starting to come through

It has become apparent in the last few sessions that PIs are not in control of the price action here. Rather they are being swept along with the big buyers that are in control of the action. As evidenced by the volume (c. 500m each day).
PIs asking why anyone would want to buy when Invesco have dumped their stock are completely clueless as to what is going on. Invesco are facing problems and liquidating their holdings - that has nothing to do with fundamentals of the company it is simply a distressed seller dumping hard, creating increased supply and driving SP to artificially low level. We now know Invesco has finished dumping and so other things being equal, the supply has dried up and buying pressure will push SP north. Insti’s couldn’t care less who is ramping or deramping so either jump on board or jump off. It is really that simple.

It isn’t PIs. Insane volume over multiple days and some huge trades going through. TR1(s) due and will reveal.

Agreed MM I think the mutuality point has been overlooked.

https://www.share-talk.com/interview-leon-coetzer-ceo-jubilee-metals-group-lonjlp/amp/?__twitter_impression=true

LC confirming the importance of obtaining high grade to supplement feed. Underlines importance of offtake for Kabwe.

I suppose if a small placing happens soon, that would strongly suggest that other routes of financing production are more likely.