focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
As reported in my previous post 11th Oct, city brokers Fairfax believe the Namib lead/zinc mine to be a viable small scale proposition but we have no details of costs/financing/JV arrangements - we await this info. The shares have alway be traded freely, even when Kalahari Minerals were the major shareholder and it has been noted by others, that there seems to be a buyer snapping up 500,000 shares on a regular basis. Our major shareholder is now Taurus who have acces to huge funds and we wait to see how they will involve themselves in the development of these projects, now coming into fruition. The news flow will hopefully bring clarity over the coming months. Feel very good about our prospects.
the regular news flow was promised in the 30/06/12 interims and since then we have had 3 x RNS's - 30/08 (Namib update), 6/09 (new licences) & 10/10 (Maiden Jorc for Namib). Thats not bad and hopeful we might get another at the beginning of November. The news I would like to hear is regarding their production plans, who their JV partner might be and what involvement we might see from Taurus.
obtain city brokers view that $20M revenues per year are possible from a small scale mining operation at the Namib Lead/Zinc site - see link http://www.proactiveinvestors.co.uk/companies/news/48972/north-river-resources-maiden-namib-resource-sufficient-for-mine-planning-says-broker-48972.html
Another step towards production today. Stick with it.
Excellent interim results, showing the Namib lead/zinc & Malachite Pan copper project both advancing towards production. "Defined active development plan being carried out - regular news flow anticipated" - so now investors can stop being so twitchy about 'no news'! David Steinpries could not have made it any clearer "... the Company is now in a strong position to progress these assets towards production." Investors need to have patience - NRRP are close to transforming themselves from prospectors to producers in a relatively short space of time. The big mining operations are constantly watching the smaller prospectors and we can expect news of a JV within 12 months in my view. Lots of other interesting, prospective projects held by NRRP so a great long term hold.
from the ECR board: http://www.chinamining.org/News/2012-08-14/1344932851d58689.html more reason for Taurus to maintain their interest in NRRP
Maths a bit wobbly. We can expect 2 RNS's a month, so 6 over the next 3 months. Still plenty to look forward to.
we can expect news of further developments! Go back to my post of Thurs 08:35 and you can see where the focus is, that there is an active development plan and there is near-term production potential. NRRP are pretty good at keeping us updated (15 x RNS so far this year - average of 3 a month) so short term, 3 months hopefully we will get 9 RNS's. That should keep most of us happy.
Not dead - just resting. As Nicpic pointed out " 'we are excited about the future of North River and look forward to keeping shareholders regularly updated on developments". 'Regularly updated' means good news just around the corner - hoping for details of a JV and get some of our prospects on the road to development.
I am sitting here thinking about gold (I do that a lot) and wondering why NRRP have picked up some more exploration licences, when we have 2 x 'good to go' (seemingly) projects on hand, being a small exploration company and all that. Being a gold bug, I am ok with the gold EPL's but the timing seems odd. Now today, I come across this article: http://www.321gold.com/editorials/russell/russell090612.html so now I am wondering if our friendly investor Taurus has had a hand in this and suggested to NRRP that if they happen to find gold, they believe their lords and masters in the imperial city, would give great assistance to bring a mine into production - things like mining engineers, equipment, cash etc. You can imagine the conversation across the ether "This is Pooh Bah #1 from the great hall of the people - congratulations Comrade He and Comrade Yu in securing next 50 years supply of uranium for our nuclear programme, you will receive your gold Mao Star on return. Talking about gold, we note you have gained a sizable interest in a small miner and as you know, at a time when currencies are collapsing around the world, the last man standing will be gold, so perhaps a friendly word in the ears of the NRRP BOD might pursuade them to try their hand in gold prospecting, with the promise of high level support. After all, we do not want to make waves by looking for gold ourselves but with NRRP fronting for us, it is a great opportunity for us to build a stake. Remember ancient Chinese proverb 'the mountains are high and the Emperor is far away' so it is up to Yu (and He)". (Chinese humour) You can call me an old conspiracy theorist if you want to but it all makes perfect sense to me.
Interesting to note that BOD are not content with just the lead/zinc + the copper prospect both of which look like being good short term prospects for early development but now happy to take on another prospect, this time for gold. There does not seem to be any concern regarding being over-stretched and I think we will be getting news about some Joint Venture partnerships shortly. Good to hear about the gold and if it turns out we find some high grade ore, then this will attract further interest.
so Brandberg EPL's 3327 & 3328 are dead (no surprises there) but we have two new EPL's 4560 & 4561 which are prospective for gold. Statement from David Steinpreis says it all: "Work on the Brandberg EPL's to date has shown that an economically exploitable secondary uranium deposit does not exist in the area and no further work is planned on EPL3327 or EPL3328. Accordingly, we will focus our energies on the new licences, our copper projects and in particular the development of our Namib Lead Zinc Project, which has near term development potential and recently reported excellent results, including samples of up to 20% zinc. With a portfolio at various stages of development, and with an active development plan which includes near-term production potential, we are excited about the future of North River and look forward to keeping shareholders regularly updated on developments."
Proactiveinvestors have issued their summary of the Thursday RNS which include various observations from An Ocean Equities research note. All very encouraging and ending with "there is good potential for North River to design a small scale but economically viable mine project at Namib" link: http://www.proactiveinvestors.co.uk/companies/news/47496/north-river-resources-spikes-12-per-cent-as-market-applauds-latest-namib-data-47496.html The next RNS due at the end of September I guess, may well spell out a development plan - then the chatter will certainly begin. Good weekend all.
sp up 8.82% and hopefully will start to attract some strong buying
yes - right on cue! RNS showing good sample figures with "Potential for significant semi-massive to massive zinc-lead mineralisation below the previously mined areas". It makes the point that Company's view is that "the mine was previously abandoned due to reasons other than exhaustion of mineable resources." Re-opening the mine and getting it working again will be a 'relatively' quick and easy route to production compared with starting up a new mine and this makes it hugely attractive. More news to follow probably end of September "The final tests of the preliminary metallurgical test program are being completed. Once the results are available they will be incorporated into a conceptual engineering study which is expected to be completed in September 2012" - so the next RNS may give us a steer as to when they expect operations are likely to commence. All looking good.
notifiying director Martin French acquired 2.7M shares. I thought there might be a statutory time lapse before an important announcement (30 days I believe) but we are well passed that and we are heading for 2 months without any news - very strange for a company with some exciting prospects, which look ripe for development. This is out of keeping with their previous history of announcements and can't help feeling something is brewing. Just wish they would get something out and put us all in the picture.
The NRRP web site has a news link and the last update on the Monte Muande JV was dated 10/04/12 reporting on BAO's completion of stage 1 of the JV (to fund & drill 2,000m) earning them 60% interest in the project. The results were good and did not cost NRRP a penny. So as things stand, NRRP still own 40% interest in this magnetite, phosphorus, uranium & gold prospect - "drill results from magnetite rich intersections report premium concentrate grades of 69% Fe at a mass recovery of 26%". It will now be interesting to see if NRRP elect to participate in stage 2 (pre-feasiblility study) & stage 3 (definitive feasibility study) because if they elect not to, then BAO will increase their interest to 75% (at end of stage 2) and then 90% (at end of stage 3) , leaving NRRP with only 10% interest in the project (albeit, NRRP would not have expended any outlay). I think I would like to see NRRP keep a decent stake in this project and at least, joint fund stage 2. NRRP have been very quiet on this JV (like the rest of its projects!) and it would be good to get a heads up on this one. Here is the link: http://www.northriverresources.com/documents/120410MonteMuandeUpdate.pdf
woops! Got my signals crossed on that one - in which case, well done for not getting sucked into an investment company! I am happy to stick with my current picks so good luck with SMA and don't miss the bus when Nrrp leaves the station.
did not think you would be first to blink! Waiting for news can drain your spirits and sap your confidence but when you are in for the long haul (plus carrying an average price of 2.175p) one has to remain sanguine! I feel NRRP are on the verge of becoming miners and moving into production very shortly, with some high grade and low cost prospects, so its a time for optimism. However, if you see a better prospect elsewhere, you have to make your decision but surprised you should opt for an investment management company (PRAE) - constanly raising funds, shelling out for new stakes, nothing coming in and all the while taking out management fees and expenses. I've been involved in a few in the past and have been disappointed. Hope it works out for you.
everything to play for here - still waiting for the BOD to issue their mission statement post Taurus.