Member Info for pablo2

I asked him what was all that Spreadex Holdings rns all about. He came back with : 'Spreadex holdings announcement shows them going from a disclosable position of 3.3% to 1.6% which is no longer a disclosable holding. We now only expect to receive another TR1 notification if they were to buy more stock and go back above 3%, we will not get further notification if they continue (or complete) any further stock sales. I assume they were long from Saffron�s equity placing, arranged by the Broker back in September and before we announced our merger and suspended.' ------------------ Nice for him to respond within the hour.

Sorry got that bit wrong : our previous posters did have that right in that it'll be about 1 : 5 in the Basic Allocation in the OO. But the point about 2 issues being rolled into 1 was my point - the OO and the change of name are separate issues, the latter will be 1:1. However, the most interesting thing imo is the large possibility of Excess Applications getting at least partly filled

over two separate issues : 1) All SRON shares simply become CORO shares when there is a name change(which will be a week or so after the Open Offer) 2) SRON holders qualify to purchase further SRON shares in an Open Offer to SRON holders @4.38p. These will be offered as 1 OO SRON share for each SRON share owned on the Record date. This is called Basic Allocation. Also Excess Applications can be made, so one could apply for many more thousands of shares if one has the cash. The Basic Allocation WILL be filled and the Excess Application will very probably be filled to an unknown extent (mainly depending on whether PVE take up some, all, or any of their Basic Allocation)

What 'other blog' ? I wonder what BMO Capital Markets Limited have been employed for? Anyway, we should hear whether we have any more than the $15m out of the sought for $20m funding by end of the month. Sparky - does seem to be some buying today

Just checking your dates, etc. 1. Don't think CORO will list until April 9th and this may get delayed possibly because of PVE/ASX red tape 2. The Record Date for SRON holders to qualify for the OO - has this been officially announced as 23rd March? 3. The SOU record date for Coro freebies is currently 26th March but still could be delayed 4. Important - the OO will allow Excess Applications to be made. PVE who will qualify with 50% of the current SRON total shares, for half the OO shares may well not take up their allocation at 4.38p. Therefore Excess Applications may well be filled

I asked him was the latest Sidi RNS it then for Sidi and had that explained extra acreage and he said no, that latest figure was just simply adding our 3 areas down south. He then said Luca still hoping to do deal on extra acreage somewhere near plus there was work to try and clinch another area in Morocco but he didn't say exactly where, when and obviously may or may not happen.

I went Joe, fabulous night, great food, lots of wine. Had some interesting chats with JP and Brian - JP confirmed Luca still working on extra acreage deal near Sidi and 2nd Moroccan deal being worked at. Brian said A-structure drill groundworks to start in March before drill mobilisation in April with possibly spud a little earlier in June. Spoke Andrew re. SRON/Coro. He's really on the ball and has known JP about 6 years. He confirmed the OO just for SRON holders- SOU freebies won't count. Definite emphasis on Indonesia - we know how long things take in Italy

Nice one Joe. I think this share will make some steady progress - when Po Valley start to complete that should grow confidence. Hoping to get more in the OO and of course the sound freebies which I think will be delayed till April - not sure if the SOU record date will slip from Mar 26 - get the feeling it may. All the best

I emailed Sara about the rns making Po Valley's transaction conclusion sounding possibly a bit 'doubtful'. She impressed me with her prompt response and reassurance. The guts of her message was : 'As you will have seen in the RNS on 22 January, PVE�s Directors signed a binding conditional agreement which underpins their commitment to this transaction. We did however need to make sure that investors were aware that the Australian process for the transaction requires certain approvals - including from an independent expert - which are ultimately out of our (and their) control. Whilst we are very keen to see this transaction complete as envisaged, should PVE not receive approval from the independent expert and/or shareholders it would not impact our ability to execute on our broader strategy ' ---------------------------- Sounds like PVE will definitely complete if they are at all able to.

Correcto, found an article explaining gold's sudden surge : http://www.mining.com/us-inflation-surprise-lights-fire-gold-price/?utm_source=digest-en-au-180214&utm_medium=email&utm_campaign=digest

http://www.mining-journal.com/leadership/news/1315473/chaarat-readies-for-mine-development-with-hire

Taking off, Up to $1346 currently - not sure why

Anyone go? Plutus Tweeted back to me it was a packed out event, so we got through to a few folks even if they were mainly there for VAL or Rockhopper

OLI - that drop tempted you back. Feb - confirmation of the $15m or $20 raise Mar - release of final FS This year - get the mine development and infrastructure really moving - expand the resource further with drilling Next year - start production

Blimey Peter Carter has a very relevant CV - started up Centerra's Kumtor mine in the Krygyz and Boroo mine in Mongolia. Just the man, I'd have thought

You don't sound rich in fact like a trainee electrician but you are surely putting your money where your mouth is, thanks, you've stopped the rot with that buy.

Thanks, tend to agree on our resource update - bit disappointing, but softened. As you say, not to say we won't be increasing that resource base this year with further drilling. ABLE : the April 2016 Optimisation of NERIN's FS gave some of the figures you're looking for. These obviously are out-of-date but give some flavour : IRR increased to 25% (at a gold price of $1250/oz) � Initial capital investment to reach production reduced 31% from $684 million to $470 million with scope for further reduction � Average all-in sustaining cost (AISC) reduced 5% to $605/oz

For comparison Centerra issued the following figures yesterday for Kumtor. These show we've now got more gold than them and interesting statement on estimation @ $1200 and $1250 an oz : "At the Kumtor Mine, in the Kyrgyz Republic, proven and probable gold mineral reserves decreased by 641,000 contained ounces, after accounting for depletion of 719,000 contained ounces in 2017. In 2017 mineral reserves decreased primarily due to mining depletion offset by a 165,000 ounce positive reconciliation from the Central Pit stockpiles and a 88,000 ounce negative model adjustment at Sarytor. As a result, Kumtor�s proven and probable mineral reserves now total an estimated 4.5 million ounces of contained gold (57.1 Mt at 2.4 g/t gold) at the end of December 2017, compared to 5.1 million contained ounces (63.1 Mt at 2.5 g/t gold) as of December 31, 2016." Worldwide : "The 2017 year-end gold mineral reserves have been verified and estimated using a gold price of $1,250 per ounce, except for the Kumtor Mine and the Kemess Underground Project which used a gold price of $1,200 per ounce. At the Kumtor Mine estimating gold mineral reserves using a gold price of $1,250 per ounce would result in no material change to the contained ounces." ------------------------- So they used $1200 at Kumtor but stated the reserves would not increase using a $1250 an oz measure. Did we use a $1500 an oz measure to increase ours ???

I see it's all a big laugh on here without much happening to talk about. I note this latest payout was for only �8k at over the ask; we had a placing to keep the lights on 2 weeks ago; the company is "hopeful other sources of finance will complete the funding necessary to commence the Front End Engineering Design phase." Adrian has been in the job just over 7 months - never said it was all going to be quick and easy. Got more chance with current Bod than the last imo

We're going to get a new Feasibility Study in March and I would think that should have the figures. Meanwhile the last RNS spelled out quite a few of the figures but they have, indeed, changed the resource parameters from the 2016 statement. They will be doing the project in 2 stages with the first due to production late 2019 I think. This is the smaller oxide resource which will be easier and cheaper to extract (around 1m oz). The major long-term project hitting a sulphide deposit will kick on in the next few years with around 6m more oz. The extraction costs for this underground mine are greater - the exact figures for either deposits' extraction costs can only be found by trawling through the rns's but I think you'll find both methods are economic. It's always quiet with Chaarat until the winter ends around May but we should get the FS, as I say, in March and then kick on with the infrastructure and mine development this summer. We have sufficient funding to take us through this year with news this month on whether they have achieved $20m, not just the $15m got so far. This is still interim funding for the major capex requirements but, be assured, our chairman and his Concert Party are very well connected to procure further funding and have very deep pockets of their own as well.