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Wkworld

THEY ARE BEING LINED UP ON TILLY'S SHIP'S PLANK FOR YOU KNOW WHAT.....HA HA

PRISMED

I mentioned yesterday that it is entirely possible that he had made prior commitment on a large investment on the assumption that EUA will come to an early resolution and like us he did not think of such long delay.

I am baffled that the first thing in these situations people think of is all sorts of negative things about that person. We should all try putting ourselves in that person's shoes before saying anything.

NICE ONE STIX40

Hi Gary
HA HA HA
WHO SHOULD WE GIVE THE HONOUR TO GIVE THE BOOT

Tilly

We should line up all those who made empty noise here with no real trust in the company WITH A BASIC MANUAL ON ETHICS, on the ship's plank and ..............

Hi ST

Indeed he has

Hi Womo

Many thanks for doing this research. Time gone today catching up on EUA.

Hi Magictrades

Welcome and great post.

Just one point I would like to add is that I have been in regular contact with the previous CEO, Mr Salazar, who I remember saying that as far as LA CEJITA was concerned, they at the time thought it was of porphyry type. So I assume this will be of the LA COLOSA type owned by Anglo Ashanti which, although lower grade than epithermal type, produced over 1000 MT with 25 million ounces. LA CEJITA appears to be 5 times as big as APTA.

Seasick

Simply because, like all of us, neither did he anticipate the delay in the conclusion of the EUA deal and he could have serious commitments to meet and hence the need to sell - Please can you tell me if he really wanted to get out, why did he not sell all?

Mac - spot on

Hi Year 2020 - absolutely agree with you.

As at 15 July 2020, Alexie Churakov held the following Options:

(1) 15,000,000 @ 0.42p (Expiry 2/11//2022)
(2) 15,000,000 @ 0.6p (Expiry 2/11/2022) and
(3) 10,000,000 @ 0.9p (Expiry 2/11/2022)

Alexie, as at 15 July 2020, also held 39,682,774 shares of 1p each THROUGH LYNCHWOOD NOMINEES LIMITED (Company Registration number 06551078). The company, as of 8 April 2020, became a 75% owned subsidiary of B N P PARIBA SA (Registered 16 Boulevard Les Italiens, Paris 75,009 France). The last accounts that I can see filed are for the dormant year to 31 December 2019 and the principal activity is to act as Nominee holder of Investments.- So it appears that the company may have been activated any time after 31 December 2019 to be able to carry on its activity of Investments on behalf of shareholders.

This shareholding on 15 July 2020 via the Nominee company represented 1.46 % of the total share capital on that date. Therefore, if according to Form 8DD, Alexie sold 0.44 % of the shares held via Nominee co THEN HE STILL CONTINUES TO HOLD 1.02 % of the total share capital of EUA via the Nominee Co (i.e. 39,682,772 shares less 12,282,774 shares = 27,399,998 OR 27.4m shares)

In addition, 25.472 % of 275,377,066 = 70,915,615 shares are also indirectly held by Alexei Churakov through Deloan Investments Ltd.

CAN ANYONE PLEASE TELL ME WHY HE DID NOT ALSO SELL THE REMAINDER. TO ME THERE HAS TO BE A GENUINE REASON FOR HIM TO SELL ONLY £3.5 M WORTH OF SHARES. Suppose he had entered into an investment transaction on the assumption it would be completed at the back of early resolution of the EUA deal and now that it has not, he is in urgent need of the funds.

We will come to know the truth tomorrow - Ian, I did not request you this morning to put me down for an RNS tomorrow in anticipation of all this drama!!!

And by the way, that is just from K1A target - other 11 are yet to be explored!!!!!

AND next to project Titiribi is project Neuvo Chakiro owned by Anglo Ashanti. Their average grade is even lower at 0.38 g/T. However, they managed to produce 604 million tonnage for a 10 million ounce resource.

Just proves that even at extremely low grades, huge resource can be produced so long as we have the depth.

The depth of each hole at Kalaka looks very impressive.

Just one point I wanted to add in relation to KALAKA.

You look at the thickness of some of these holes in (a) to (p) listed in my previous note - 95% of these are between 117 meters and 175 meters. This is critical where we want big tonnage.

To give some idea about this and other project we own, you look at project Titiribi held by Gold Mining Limited( next door to project ANZA owned by OMI). The average grade of gold at Titiribi is mere 0.5 g/T. However, despite this it managed to produce total tonnage of 480 million Tonnes with gold resource of 10 million ounces and that can only come with the depth.

Sharkface
Many thanks for posting this

The initial zone has been described of having dimentions of 500m x 200m x50m. I believe this is likely to increase significantly as it has been mentioned that it is open in all directions.

Based on average grading of 5g/T, the resource potential SO FAR based on the above could be:

1) Tonnage for the soil - assumed to be 1.7T
2) Total tonnage so far 50m x 200m x500m x 1.7T/meter cube = 8,500,000 T
3) In grams = 8,500,000 T x 5g/T = 42,500,000 g
4) In ounces = 42,500,000 g / 31.103g = 1,366,427 ounces
5) Recovery rate = say 90% x 1,366,427 = 1,299,784 ounces
5) The AISC at Buritica is $600 per ounce so assume the same for Omi
6) Gold price per ounce = $1878 /ounce
7) Margin = $1,278 ounce
8) Total margin = 1,299,784 ounces x $1,278 = $1,571,664,335
9) OMI eventual share = 30% x $1,571,664,335 = $471,499,300 / $1.37 = £344,160,000
10) Diluted shares say = 200,000,000
11) Price per share = £344m / 200m shares = £1.72/share

NOTE: APTA IS THE SMALLEST OF ALL THE TARGET AREAS AND IS LIKELY TO GROW

Hi Ian

Please put me down for tomorrow. Thanks and good luck all

Hi Rob
Thanks for your response. This is absolutely fantastic and very good news for all the shareholders. I had a thumbs up message back from Mr Salazar, the former CEO. He usually writes long replies but he is very busy with his new co. We should see a very positive reaction on the sp tomorrow. I will post later in the evening what the numbers look like based on the first hole results and on the dimensions someone has posted. Be back here shortly.

Hi Rob / Dr Remington

Many thanks.
Just a quick question on the 10m / 20m/ 30m oz resource mentioned by George as I could not attend the webinar. Am I correct in assuming that this was with reference to the whole of the ANZA project and not just confined to APTA, CHARRASCALA and GUAIMARALA combined.

Many thanks and GLA for tomorrow.

Hi Rob

I missed all of this as I had to attend elsewhere. Is there a recording available on this?