Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Aman, I personally just found your original statement a bit weird. You posed the question why people thought this could be a world class discovery when only the BOD have suggested it may be. You also suggested a lack of independent analysis.
I doubt 95% of the investors would be here if the only evidence / information was word of mouth from the BOD (I certainly wouldn’t).
Your statement tends to dismiss the existing factors in play, - like the drill results (unless fraudulent these are not based on BOD opinion),
- also dismiss the wider geography, with the cauca belt housing some multi million oz resources (next door being 11m and growing). Again this is not board opinion
- you can count on one hand the number of small explorers with JVs with 2 majors- this again would point to the odds of a large resource being fairly good.
To insinuate the only pointer to a world class resource is the ceos comments is a bit disingenuous.
Agreed - we could all be wrong but I for am hopeful having weighed up all the factors.
Diego Mesa - the countries mining minister also seems to realise there are massive economic benefits from mining royalties.
The coal sector's problems have accelerated during the coronavirus pandemic, Mesa told Reuters in an interview late on Thursday, forcing the world's fifth-largest coal exporter to weigh how to quickly broaden its mining industry.
"Metals are the big opportunity for Colombia because they're the minerals with the greatest demand," Mesa said.
With mining concessions covering just 3% of Colombia's territory and mining operations in less than 1% of the country, there is great opportunity, particularly for gold, copper and nickel mining.
"The country is practically unexplored, almost in its entirety," he said.
Four copper and gold projects, including the Quebradona and Gramalote mining developments, will be fundamental to diversifying output, he said.
Yep, that’s the interesting bit and I take it as positive. I wouldn’t put together a presentation and q and a if I knew the grades weren’t there and the share price was likely crash as a result.
I’m hoping it’s confirmation of previous of prior grades etc, agnico are taking over now and we are gonna put a lot of holes in that there hill.
JJ - you come across as a man who has never experienced a placing before. Discounted placings are pretty common on aim- the majority of them closed to private investors.
No-one likes to see a retrace- no one is going to argue that. But unfortunately on aim they happen 99% of the time after heavy increases in the mcap. Remember the context that this was sat at 2.7p 6 months ago.
The company has justified why they felt this necessary - if you don’t believe the BOD then I’m not sure why you haven’t sold up. If you believe them then you sit tight.
You contiuw to suggest the drilling performance of two majors is poor as we haven’t got results. Drilling result timeframes have been clearly stated by the company- not sure why you continue down this road. Also, the majors are not yet involved in this drill.
This is all matter of timeframes- if your expecting heavy returns in 2-3 months- this probably isn’t the share for you (probably a good idea to steer clear of gold explorers) If you are playing this as a medium to long term then the fundamentals come in to play and suggest it could do quite well.
Your posts (apart from confirming share price movement) are generally devoid of fact, and full of option. And conjecture.
Ranting the same points and shouting people down calling them thick isn’t a good look.
Agreed EWT
Easy to forget with all the noise that agnico and nem paid $582k only 4 weeks ago and as a result, now have to spend $4m work commitment in the next 9.5 months.
My personal view / hope is drilling through qtr 1 and 2 will be stepped up massively with agnico taking over the day to day.
The KAT RNS is resource results, similar to what is expected here in January. Not at any point has OMI stated these are expected before next year.
I’m not sure why you feel the company is withholding information. I agree, their intention re drilling plans is not detailed or transparent enough but they are not withholding information as you suggest. I doubt they would want to release partial drilling results without full lab data and time to interpret said data.
You seem to believe Omi should have turned around the results by now, yet it took KAT 4 weeks from receiving full lab data to releasing realising said data in the recent RNS.
You also mention it’s two majors drilling. It’s not, Omi are managing this drill, with the expectation the two majors take over the program at future stages.
I don’t think anyone is happy with the price action, but a bit of patience goes a long way.
Tiny sell volume this afternoon. Yet they just keep dropping the ask with every buy.Either large sell orders from placing in the background or MMs just demanding it down to placing price.
Mcap getting scarily cheap now...
Agree it wasn’t great. But no retail investor would have been involved at a placing at 30-40p when the share has just 10 bagged in 10 weeks- wouldn’t have happened- not unless there is a huge discount.
Like you I would have preferred a raise when drill results are back but then we would have complained they killed the rising share price trend.
Also if the assays come back average or not as suspected- he is left with little to no cash, a lower share price and we would have been staring down the barrel of a 30/40%/50% dilution.
At least we know now there should not be any raise for the foreseeable unless they are buying an asset.
Agree lynny, not easy to sit and wait.
I didn’t expect and wasn’t happy with the placing, but in hindsight probably should have expected one- company was probably sat on £1m cash max after the most recent payment- with no more payments JV for a while.
If this was a maiden I wouldn’t be anywhere near it, but with 24,000 already drilled, awesome grades noted and neighbouring minesabout to produce, it does give me confidence. Let alone a gold bull run on a macro economic level...
The only slight doubt I have is if they drill a new ish area and the grades are disappointing...I hope they will have input from agnico and nm.
If they hit grades then I guess it’s full steam ahead, agnico and Nm take over and they ‘just keep drilling’ as Brad put it. With each drill result returned it will just add value to the mcap, much like how ggp have progressed in the last 18 months.
AG - sensible post.
Brad has only been in the job since July, during a pandemic. Not sure why people think there isn’t / hasn’t been progress.
Within that time we have on boarded agnico, gained commitment from NM and mobilised two rigs which are almost a month into drilling.. Pretty good progress for 5 months work.
The company has quite clearly stated drilling results January.
Placing is a necessary evil. As long as the capital is not eaten up or wasted then not an issue. They have also explained why they felt it necessary. Name one exploration company who has ALL their costs paid by the JV partner.
Personally not a fan of brads bedside manner, but if he gets results we all want to see then not an issue. Prefer a pragmatic ceo to a rampy one who can’t deliver.
Sorry if already posted on here...
Pro gold government. I also think the Chinese dropping $1bn on the mine next door alleviates political risk somewhat. Columbian government also working with the Americans to develop their mining expertise.
BOGOTÁ, Oct 2 (Reuters) – The future of mining in Colombia will be metals such as gold and copper instead of coal, but the country will not abandon fossil fuels or the potential development of unconventional oil and gas deposits to guarantee its energy self-sufficiency, said the Minister of Mines and Energy.
Coal faces problems worldwide due to lower demand and falling prices, coupled with a reduction in production due to the coronavirus pandemic, forcing Colombia – the fifth largest exporter in the world – to consider rapidly expanding its mining industry .
Colombia produced 82.2 million tons of coal in 2019 and hopes to maintain it in 2020 despite the difficult outlook.
“The great opportunity for Colombia is metallic minerals because they are the ones in greatest demand at the moment and in the future,” Mines and Energy Minister Diego Mesa told Reuters on Thursday in a virtual interview with Reuters.
Four projects for the exploration and production of gold and copper will be essential for the mining industry of the fourth largest economy in Latin America in its diversification process to leave dependence on coal, said the minister.
With mining titles covering only 3% of Colombia’s territory and mining operations less than 1%, there is a great opportunity to expand exploration for gold and copper, and even nickel.
“The territory is practically unexplored,” Mesa said. “There is great potential there, the future should be focused on metallic minerals. Initially we have gold and copper projects, but we hope that other minerals such as nickel can be developed.”
Colombia’s gold production reached 36.6 tons in 2019 and the government’s prospects point to an increase with the upcoming entry into operation of projects such as Buriticá, in the department of Antioquia, owned by China’s Zijin Mining Group Co Ltd.
Since 6p? New major on board with local knowledge. Agnico have drawn up drilling plans, secured rigs and are about to put the drill (possibly 2) in the ground. Not bad for 8 weeks work in the middle of a pandemic.
Significant amount of drilling already undertaken with good gold grades.
all in the RNSs
All shares will likely retrace after significant rapid rises. Look at GGP, experienced a few heavy retraces on their impressive journey to where they are.
Research the company, research its peers and look at the market cap- make a decision.