Member Info for Pk73

@edhellas, I don’t think it would take too long to start mining. There is both other mining in the rajasthan area (infrastructure and staff) and also there has been artisanal mining there in the past, which suggests the gold is close to the surface..

I would also suspect MB has been working with people ready to stick shovels in the ground in parallel to getting the licence sorted….

Pk

@shearclass you forgot to put 'at least' in your last paragraph... can't remember where but i am sure i heard somebody comment much higher figs like 10-12.

That said... it may have been on this board and a guess, so lets just stick with 'at least'....

Nice post @shearclass.

That’s over a billion quid sterling of copper too…not sure what the in-ground price of that is though…

Looking forward to watching all this play out…. Good day today… enjoyed that.

Gla pk.

Hope @johnlewis is here to see this… be interested in your comments, sir.

There have been times in the last few years where it was three or four of us rattling round this board, and seeing this day as ‘some point in the distant future’… often losing the will to live, but hopefully sticking with it.

Pk

8.5p out of the blocks is a good start and classes as “very quick”!

To be fair, @roxi, you are right here… “very quick” in mining terms doesn’t exist.

Since the gor were not happy with Pat putting a delay on proceedings last time they were in court (as I suspect they saw this RNS coming), maybe the “very quick” option is no longer there and they will have to follow the process to the higher courts now.

If they still have an opportunity to negotiate and stop the process, I think maybe 6 months to a year would be classed as “very quick” for me.

I think SP movement, however, could be very quick in moving upwards from here… the financing award alone is worth more than our current sp!!

Pk

I think it will either be a very quick process for a negotiated settlement, or they will have to jorc it, and have the resource assessed in detail to fight it.

Most interesting is the reward for the funding. Max 13.25x4.25 is circa 50 million in squids. Or 5-15% of an award. This suggests that they are expecting a potential award of 1bn plus..

“Experts in the field already selected” is a belter,

GLA today… I think we will see some price movement to get mark his 3m shares!

Pk

My first word on waking up this morning is unrepeatable, and I’ve only skimmed it…

Especially as on June 1st via RNS it stated: The Company does not expect a further extension of the due diligence period.

So either they found something they don’t like, or the delay is man-made for a reason which could be negotiations.

Either way, it’s not doing my nerves much good.

And a £9.94 trade.... somebody is really pushing the boat out.

Sort of hoping thats all that was available for sale....

PK

No trades either.... it's like a scene out of a horror movie...

He said it when the sp was 21p, @prof!!

I don’t think you’ll be too far off a mine value of £80-100 quid per ounce of ‘in the ground’ gold per ounce.

Bhukia has somewhere between 6.6 and 12 million ounces, so the value of the unmined gold to somebody to either JV into or to buy outright is somewhere between £528m to £1.2bn.

A JV complicates this a little as the partner would plan to mine and then the gold would be worth around £1600 per ounce.

There is a LOT of precedent of mines being sold without a shovel being swung at these rates. They are not made up amounts: https://www.kitco.com/commentaries/2015-06-03/The-Real-Value-of-Gold-in-the-Ground.html

If our value goes up to anywhere between 500m and 1bn, that’s a 50 to 100 bagger. Which I think we’d all be happy with.

Just my logic and musings…. PK

Just off to buy a thesaurus, kitrash.

I'd still take that, @deckchair...

If that gets it over the line, and we can progress...

I can't get out of my head that PAT's expertise is as an explorer rather than a miner, and that they would rather structure a deal so that we just receive royalties rather than have anything to do with mining themselves...

At least it’s a Monday deadline, so we won’t be kept waiting over the weekend….

I like the theory it’s because they’re talking, but I’d love some clarity on that via RNS… they can’t keep just extending without reason. Is that 5 extensions to the DD? It’s either a serious problem that MB is trying to convince them isn’t a problem, or it’s a negotiating tactic.

Not losing faith, but getting a bit silly with the cut and paste RNS. The nomad must be starting to get a bit annoyed at the least.

PK

… trades today! One 4 grand buy (don’t blame you).

No ship jumpers suggests some confidence here… I guess a fingernail-less Monday morning in on the cards. One way or another we should have some news by open…

Good luck all! Pk

Fully agree @ejt.

Also thanks to @kitrash… I went down a Google rabbit hole of BIT arbitration (inc white industries VS India - so there is some precedent with the aus-ind BIT in court).

Super interesting, and seems there is a disconnect between local justice depts and international law. We are in the local jurisdiction at the moment and I think what’s been written about them wanting to avoid defcon2 on this bb is correct.

I would be surprised if we get got an arbitration RNS before 9am monday like normal, but everything crossed we get some clarity after today..l

Massive good luck all!

I might be wrong, but I don't recall any RNS updates about the court hearings when they're delayed, only RNS's about the arbitration funding.

The only info about the court hearings are what is posted on here from the indian court sites...

I may be wrong...... I just don't recall one.

Can you put your finger on what doens't look good, Topsharepics?

Is that a gut feeling or are you basing it on something you've seen?

PK