Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Agreed -
Alongside advanced exploration, Caerus has a second key objective, namely to pursue a 'waste to revenue' strategy and monetise the residual metals embedded in its substantial, 100% owned surface stockpiles of high-grade remnant ore as well as associated copper-and gold-bearing marginal ore, waste rock and tailings. The Company's in-house and uncertified estimates are ca. 15 million tonnes ("Mt") in all categories of material within its portfolio, not including the >3Mt within licences owned by PR Ploutonic Resources.
A steal at sub 20mil Mcap
Make the most of this temporary dip - undervalued as we await multiple pieces of newsflow - mainly red setter drilling campaign due to start shortly - which on my calculator could prove up 100x+ our Mcap in the ground and leed to the inevitable JV with Newcrest or any other of the surrounding major's
Ground analysis will commence forthwith in order to refine the locations of first drill targets. We anticipate being able to announce the commencement of drilling shortly.
Our geologists, Terra Search, have excellent relations in the area having worked for both Newcrest and Geatland Gold. Accordingly, the exploration will be based out of the Terra Search camp at Newcrest's Telfer mine some 13km from Red Setter.
With news due to start drilling at red setter - potentially to prove up a slightly larger Havieron - this slight dip is just traders and profit takers -
Cottesloe update due
+ Other assets
• May 2021: Anticipated approvals by syndicate of the c. $300M project financing of TKGM:
» Mining contractor c. $70M finalise contract (submission received);
» Senior Lenders c. $140M formally approve loan details (terms sheet already signed);
» Equity-risk capital:
• $20-30M: Local equity into Tulu Kapi Gold Mines SC (TKGM) ie project company level:
• $20M: Government, for off-site infrastructure (binding contract already executed);
• $0-10M: Local Private (invited March, now need to commit if wish to participate);
• KEFI Group c. $80M:
• $15-30M: Offtake-linked subordinated into KEFI (terms sheet signed);
• $10-30M: Subordinated convertible finance into KEFI Ethiopia (from local investors owned;
by strong international companies keen to support Ethiopia with their local profits. One
has signed terms sheet. Others invited March and need to commit if wish to participate);
• Remaining balance to be finalised, and then sourcing and allocations to be optimised.
• June 2021: Regulatory confirmations required from Government and from KEFI shareholders at AGM;
Trigger Tulu Kapi full development of open pit, (gold-silver);
• 2021-2022: Expand resources at Tulu Kapi and Hawiah, (copper-gold-zinc-silver);
• H1-2023: Full production at Tulu Kapi, starting at 140Koz pa and rising to 190Koz pa with
underground mine to be developed after open pit settles down;
• H2-2023: Trigger Hawiah development, Cu-Au-Zn-Ag,(add > 100K oz pa gold-equivalent based on maiden resource).
I wish you the best - happily sticking to the facts instead of persistent dampening opinion's - delays happen in a year of covid but June is the time for full financial close of the above 300$ million
https://goldprice.org/live-gold-price.html
Happily peacefully holding - anyone in doubt is a nervous uniformed investor - with gold at 1910+ and in a uptrend - do you think the Ethiopian government will turn away the benifit of 250mil a year export revenues - it's not all for nothing - I believe we're gonna see 8p+ before the end of June
Then your gonna have find something else to fill your 7 days a week oilbit/positive energy/ the masked singer/ smelly Ben - all the same strange personal
Ground analysis will commence forthwith in order to refine the locations of first drill targets. We anticipate being able to announce the commencement of drilling shortly.
Our geologists, Terra Search, have excellent relations in the area having worked for both Newcrest and Geatland Gold. Accordingly, the exploration will be based out of the Terra Search camp at Newcrest's Telfer mine some 13km from Red Setter.
"With silver becoming increasingly in demand with the climate change agenda initiatives, the silver potential is exceptional here at Cottesloe. This project is a very exciting new acquisition for Wishbone. The acquisition of this project more than doubles our tenement size in the exciting Patersons Range region of Western Australia. We see the potential for Cottesloe to host both precious metals and base metals as very high, based on historic data available through the Western Australian Government archives. The Company is well placed to move quickly on the due diligence process on Cottesloe, having recently completed the acquisition of our three other tenements in the same area. Technical and legal due diligence is underway and further updates will be advised as soon as they become available."
Highlights
· 24 of the 39 drill holes have been completed on the North Mathiatis copper-bearing waste stockpiles, with full completion of the programme expected by the end of May 2021
· Site preparation at Troulli is ongoing ahead of the near term drill programme on the epithermal gold oxide resources and copper sulphide VMS target
· Further work is underway to establish a maiden NI 43-101 copper Resource estimate at Mala, and how to profitably exploit the smaller, high-grade assets within the Company portfolio
· Prioritisation of prospective copper-gold Joint Venture (JV) projects underway by way of a re-assessment of each of the Company's 16 candidate sites against Jubilee Metals Group JV criteria
· PR Ploutonic Metals acquisition expected to be completed within the next three weeks following COVID-19 imposed delays
· An updated Corporate Presentation will shortly be available on the Caerus website.
From what I can see above - we're due north mathiatis update within may - platonic aquisition to be completed first week of June and to shortly start drilling at truolli - all updates will help concluded the Jubilee JV which based on the Cyprus copper grades in very promising.
All of the above taken into account - we seem significantly undervalued at sub 10mil Mcap and poised to move up on news which lots should arrive over the coming days/weeks
From highlights posted below - due completion end of may? Tomorrow, Tuesday?
+ More significant newsflow in June - all from the operational update posted below
Ground analysis will commence forthwith in order to refine the locations of first drill targets. We anticipate being able to announce the commencement of drilling shortly.
Our geologists, Terra Search, have excellent relations in the area having worked for both Newcrest and Geatland Gold. Accordingly, the exploration will be based out of the Terra Search camp at Newcrest's Telfer mine some 13km from Red Setter.
"With silver becoming increasingly in demand with the climate change agenda initiatives, the silver potential is exceptional here at Cottesloe. This project is a very exciting new acquisition for Wishbone. The acquisition of this project more than doubles our tenement size in the exciting Patersons Range region of Western Australia. We see the potential for Cottesloe to host both precious metals and base metals as very high, based on historic data available through the Western Australian Government archives. The Company is well placed to move quickly on the due diligence process on Cottesloe, having recently completed the acquisition of our three other tenements in the same area. Technical and legal due diligence is underway and further updates will be advised as soon as they become available."
With so much news due and the long weekend approaching - I'm certainly not trading anything, once drilling starts were see the 30-40p range. Until then we're get GGP shareholders trying to put this down - that largest majority not holding from the sub 1p days - the equivalent of where we are here
GGPs Havieron is 450 x 350 x 600 = 94,500,000
WSBNs is 57kms away and red setter target A is 1500 x 400 x 150 = 90,000,000
1500 x 400 x 300 = 180,000,000
The highest priority magnetic bodies within Red Setter (Referred to as Targets A, B and C in Figure 1) cover an expanded area of 3.5 km in strike length and 1 km in width. The highest order Target A occurs over a strike length of 1500m with a width of 400m and occurs within 50-75m of surface. Results of this modelling shows several north plunging magnetic bodies within this anomaly of equivalent susceptibility (possibly pyrrhotite alteration) to that evident at both Newcrest Mining and Greatland Gold's Havieron and RioTinto's Winu discoveries.
13kms away from the largest gold/copper mine in Australia - Newcrest owned who we share our boarder with - "Our geologists, Terra Search, have excellent relations in the area having worked for both Newcrest and Geatland Gold. Accordingly, the exploration will be based out of the Terra Search camp at Newcrest's Telfer mine some 13km from Red Setter."
Havieron 30% GGP ( 800mil Mcap) 70% Newcrest
Red setter currently 100% WSBNs (30mil Mcap)
While currently 100% owned - success at red setter will be valued in the billions and identify a similar sized target to Havieron - and while working out of Newcrests mine - will leed to a JV with them as did GGP. Drilling to commence shortly.
+
https://www.lse.co.uk/rns/WSBN/dr-simon-beams-to-present-wishbones-halo-project-ps42f7ytk19as5a.html
Cottesloe Project Highlights:
• Rock chip geochemical sampling results reported up to 298g/t Ag
• Multiple significant drilling results including:
o SCR225: 5m at 102g/t Ag from 14m
§ Including: 2m at 165g/t Ag
o SCR247: 2m at 73g/t Ag & 4.6% Pb from 8m
o EWP-2: 22m at 42.7g/t Ag from 8m
§ Including 8m at 72.13g/t Ag from 22m
o EWP-3: 18m at 29.3g/t Ag from 6m
o EWP-7: 20m at 35.9g/t Ag from 2m
§ Including 2m at 100g/t Ag from 8m & 4m at 69g/t Ag from 16m
o EWP-11: 4m at 41.25g/t Ag from 14m & 10m at 41.6 g/t Ag from 24m
o EWP-12: 8m at 58.37g/t Ag from 20m
o EWP-24: 8m at 54.87g/t Ag from 40m
• Mineralisation trends interpreted to be over a 12km strike
Cottesloe has a 12kms strike of above avarage silver grades while the two closest mines are purely copper - I'm looking forward to both Paterson range assets being advanced in tandem - while the halo project is run by Terra search.
https://youtu.be/6eb9Vfv0bzI WSBN on share talk again today
Demir export are drilling on Irish soil - near completion of due diligence from Friday interview. On JV announcement were see triple digits quickly. Dyor - I'm really happy with mine
· 3D inversion of the Red Setter ultra-detailed magnetics has delineated 3 highly magnetic bodies over an expanded area now covering 3km x 1km.
· Largest individual priority 1 magnetic target has a 1500m strike length with a width of 400m and starts at around 75m from surface.
· Magnetic survey reveals that all magnetic targets are much shallower than 150m-250m depth previously modelled.
· The relatively shallower target depth is strongly advantageous both from an exploration and future development potential perspective.
· The Red Setter Project is located 13km south-west of Newcrest Mining's Telfer Gold-Copper Mine and 60km west of Newcrest and Greatland Gold's Havieron discovery.
30mil Mcap - any strike at red setter will be valued in the billions - slightly larger than Havieron while 100% owned
+ cottesloe and all WSBN other assets
https://goldprice.org/live-gold-price.html
Bought more before trasformative news
https://youtu.be/aHnrjj2JF1k by the end of the month - and that would still be cheap - yearly highs broken as we await news
https://goldprice.org/live-gold-price.html
All parties involved in the Project are extremely busy closing the financing and development preparations as outlined in the Company’s recent announcements. KEFI consider it a privilege to have the opportunity to play a small part in the overwhelmingly positive transformation that is occurring in Ethiopia and KEFI are extremely proud that our joint KEFI-Ethiopian Government owned Project remains on schedule to launch shortly with the goal of ultimately contributing over US$250 million per annum to Ethiopia’s export revenues.
KEFI remains focused on completing preparations for full Project launch as soon as possible after the Company’s Annual General Meeting, which will be convened in due course for a date before the end of June 2021.
Strategy and Assets
Jubilee Metals is a successful metals processing company with which it is opportune for Caerus to engage through the mutually beneficial Option Agreement announced today. Whilst Caerus is still focused on its advanced exploration objective(s) of defining NI 43-101 compliant Ore Reserves from its core flagship properties of Kalavasos, Mathiatis and Mala, and the advanced assets of the recently acquired PR Ploutonic Resources Ltd., this Agreement with Jubilee is a step towards achieving a parallel goal.
Alongside advanced exploration, Caerus has a second key objective, namely to pursue a 'waste to revenue' strategy and monetise the residual metals embedded in its substantial, 100% owned surface stockpiles of high-grade remnant ore as well as associated copper-and gold-bearing marginal ore, waste rock and tailings. The Company's in-house and uncertified estimates are ca. 15 million tonnes ("Mt") in all categories of material within its portfolio, not including the >3Mt within licences owned by PR Ploutonic Resources.
Option Agreement
The main elements of the Option Agreement are as follows:
· Operational costs are to be met by Jubilee with no material cost to Caerus
· 6-month duration providing a rapid turn-around of samples and progressive release and reporting of results
· Jubilee has the exclusive option to elect to convert one or more projects to a Joint Venture under terms to be agreed
· If a Joint Venture is agreed, Jubilee will design, finance and execute the construction of any processing plant and become its operator
· Any Joint Venture will operate on a profit-sharing basis after recovery by Jubilee of its initial capital expenditure and other 'up-front' costs
Option Agreement Rationale
This Option Agreement enables Caerus and Jubilee to engage in an agreed Work Programme to investigate and assess the remnant ore and multiple waste stockpiles from the 16 mines that operated historically on Caerus' concessions, including those of the recently acquired PR Ploutonic Resources Ltd. The targeted wastes were discarded in an era when metal market dynamics were very different from today, and there was no incentive to optimise recoveries from ore feeds, nor any commercial or environmental benefits from doing so. The dramatically changed commodity price environment for copper in today's world is driven mainly by the global decarbonisation of the transport and energy sectors. This creates an opportunity for Caerus to form a working relationship with Jubilee and utilise their skills and experience in materials reprocessing. These will form the foundation of the Work Programme under the Agreement that will be delivered jointly with Caerus personnel.
The ultimate objective is to identify and define projects within the Caerus portfolio that can be 'scaled-up' and prioritised into one or more Joint Ventures targeting profitable production using modern designs and waste processing technologi
And people are still in doubt...
Patience in place - in a COVID year we’ve had delays with boxes to be ticked, now every box has been ticked apart from full funding due within June - gold nearly at 1900 and Kefi are about to go from speculative Jnr to 300$ mil fully fully funded major producer for Ethiopia adding 250mil a year to there annual export gdp. The doom and gloom board would scare away the majority of inexperienced investors - trading at less than 15% of the current NPV as we await 5x our Mcap in cash within weeks.
As a genuine kefi shareholder - I’m excited