Member Info for Professor1

Hi EJT

There is fairly good chance that Kalaka will have positive impact on the share price:

(1) Over 9000 samples taken in the past show gold of UP TO 7,430 ppb. (compare this with when GGP results in RNS were advised)
(2) Strong indicators for economic scale gold mineralisation namely:
-(a)primary gold source for eluvial deposits - 3 eluvial zones have been identified
-(b) All known gold deposit in Mali are hosted in Birimian Greenstones - pAT's 80% tenement is within this.
-(c) The structure is conducive to structurally controlled gold deposits ( Yilgarn goldfields Western Australia)
(3) UP TO 12 target areas (OF WHICH 3 ARE PRIORITY TARGETS) namely:
(a)K1A TO K1E
(b) K2A TO K2B
(c)K3A TO K3B
(d)EM01 TO EM03
(4) LIMITED DRILLING ON JUST K1A:
(a)Anglo 12 DD holes and 17 RC holes - 25% of the samples returned over 1g/T
(b)A study by Wilson suggested 250,000 oz to 500,000 oz and if further infill drilling replicates this then it may be possible to declare a mineral resource for the project and anomalies continue along strike.
(c)Limited RAB drilling on few other targets show PRIMARY gold mineralisation.
(d) Please note that the economic cut off grades I believe these days is 0.5 g/T or even less than that - check out GGP!!!!!
(5) Following grades were noted at K1A:
(a) K1AD001 = 246m@0.55g/T including 56m@1.02g/T and 1m@20g/T
(b)K1AD002 = 117m@0.59g/T including 6m@1.47g/T and 4m@2.4g/T
(c)K1D003 = 102m@0.49g/T including 15m@1.08 g/T and 1m@1.30g/T as well as 1m @1.18g/T
(d)K1D004 = 156.9m@0.36g/T including some 3m@2.5g/T
(e)K1D005 = 119m@0.54g/T including 1m@1.47g/T
(f)K1D006 = 175.4m@0.49g/T including 25m@1.21g/T
(g) K1D007 = 113m@0.43g/T including 25m@1.11g/T and 11m@1.90g/T
(h)K1D008 = 173.4m@0.31g/T including 54m@0.51g/T and 2m@1.93g/T
(i)K1D011 = 122m@0.32g/T including 6m@1.79g/T and 1m@1.34g/T
(j)K1ARC05 = 157m@0.44g/T including 1m@6.10g/T
(k)K1ARC04 = 128m@0.57g/T including 1m@6.70
(l)K1RC2A = 87m@0.5g/T
(m)K1RC2B = 12m@0.60g/T
(n)K1RC1B = 13m@0.51g/T
(o)K1RC003 = 161m@0.39g/T including 1m@2.60g/T
(p)K1ARC028 = 117m@0.59g/T including 41m@1.02 g/T and 1m@9.14g/T

THE ABOVE RELATES TO ONLY K1 TARGET

Hi Mickey and all
Good afternoon

Just one of the projects needs to come off and we will be in another league.

Cant understand why would be people selling now if they invested looking at the co prospects in the first place - unless of course taking profits

PARSLEY

BECAUSE THE MARKET HAS NOT GOT A CLUE ABOUT THIS COMPANY

THIS COMPANY IS ON THE VERGE OF MAKING HISTORY IN 2021 ON AIM

Hi Gist

Good on you. I assume you are well familiar with the CGT rules. Please see HMRC site if you have not already done your research.

Indeed Mickey

Hi Rob - agree.

The BIG DIFFERENCE with PAT ( and I am aware that Mr Bolton does not mention ) is that we know that BHUKIA has at least 7m oz of resource as measured by GSI of India, albeit not jorc compliant. However, I would not doubt the work carried out by GSI as they seem pretty sure about the number and the fact that our GEO now thinks it could be as much as 10m oz.

The other very important thing for the investors to bear in mind, and not forget, is that following any agreement with the State Govt, it is possible that we would participate in the other JVs on other Bhukia blocks if we have still retained the Reconnaissance permit on those.

I used to be in GGP with 2.2m shares ( my first tab on AIM after having done a very thorough research and telling everyone around me to stick to the end based on what I thought of the assets it had). As soon as Newmont left, I panicked and sold the lot. All the research had gone out of the window.

https://www.miningnews.net/research/news/1403236/platinum-poised-to-fire-next

TO ME ITS A NO BRAINER

APOLOGIES - HERE IS BURITICA VS LABOLA
CONTINENTAL GOLD

1) RESOURCE IN MILLION TONNES
a) Measured = 1.4 MT
b) Indicated = 14.6 MT
c) Inferred = 21.9 MT (The point to note here is inferred is nearly 1 and 1/2 times more than combined measured + indicated
2) Gold price in January 2019 = $1,278
3) AIS Costs (ASSUMED) = $800 ( I will assume the same later for PAT)
4) Margin = $1,278 less $800 = $478 per ounce
5) Profit over life of mine = 11,300,000 oz X $478 = $5,401,000,000
6) Outstanding shares in Jan 2019 = 203,000,000
7) Market value in Jan 2019 = $812 million
8) Therefore, in Jan 2019 the market value is 15% of the total future profits ( i.e. $812,000,000/$5,401,000,000)
9) Share price = $812,000,000 / 203,000,000 shares = $4 per share.
10) Share Price in pounds = $4 / 1.7376 (exchange rate in 2019) = £2.30.

PAT - WITH LABOLA 1.5M OZ RESOURCE ESTIMATE

1) Gold price in Jan 2021 = $1,800
2) AISC = $800 (Assumed same as in Continental Gold)
3) Margin = $1,800 less $800 = $1,000 per ounce
4) Profit over life of mine = 1,500,000 oz X $1,000 = $1,500,000,000
5) Outstanding shares = 86,000,000
6) Market value % as per Continental Gold = 15% X Profit of $1,500,000,000 = $225,000,000
7) Therefore Share Price = $225,000,000 / 86,000,000 shares = $2.60 per share
8) Share Price pounds = $2.60 / 1.37 = £1.90.

Hi Mickey

Ha ha not at all. I am equally invested here and in Omi. In fact with OMI, they do not have a fallback on other projects whereas we are well diversified. MR BOLTON MENTIONED TO ME OVER THE PHONE THAT HE FOUND MY ANALYSIS INTERESTING HERE

Look at BIDO on its own - it has no less than 9 targets. Kwademen, one of the 9, has the proSpects on its own to be a company maker.
LABOLA - YOU COMPARE JUST 1.5M OZ PROSPECTS TO 11.3M OZ AT BURITICA - AND THE SHARE PRICE PROSPECTS

****Based on the previous drilling however, an Exploration Target of 15-30Mt grading between 1 and 1.5g/t Au (0.5 to 1.5Moz gold) is interpreted. The area has previously been extensively drilled by two companies, Taurus Gold and High River Gold, who each held separate parts of the area with some overlap. All up, over 65,000m drilling has been conducted on the project as shown on the table and image below. " THE AREAS OF ARTISINAL MINING SUB-PARALLEL TO THE THREE MAIN ZONES SUGGESTS SIGNIFICANT ADDITIONAL EXPLORATION POTENTIAL EXISTS OUTSIDE THESE ZONES AND NOT COVERED BY PREVIOUS DRILLING ". *******

Please feel free to correct me on the undermentioned parameters / assumptions that I have used in my calculations and if required, I will re-calculate the workings:

PARAMETERS (AND ASSUMPTIONS) USED ARE AS FOLLOWS:

a) Strike length = 9km (=9000m)
b) Width = taken average across the strike length = 0.3km (=300m)
c) Depth = taken average across the strike length = 0.1km (=100m)
d) Density for the area = assumed industry average in west Africa = 2.4 Tonnes /meter cube
e) You will note later in the calculation that I will aim to take ONLY 1/10 th of estimated resource figure to take account of the fact that even though some holes may have returned say over 100 g/Tn, these COULD BE isolated ones or indeed the width of the depth in some areas may not be the same as assumed throughout the strike length of 9km. I have even gone further to reduce the strike length of 9km TO ONLY 1/10 th on the assumption IF the strike length was NOT CONTINUOUS ( IT MAY BE THE CASE THAT THE WHOLE OF THE STRIKE LENGTH IS CONTINUOUS and I therefore do not need to reduce 9km to 1/10th)
(f) Based on the company data I have taken 1 g/T grading
(g) Recovery rate of gold = 80%

So, here it is:
(1) 9km x 0.3km x 0.1km x Density
(2) = 9000m x 300m x 100m x (2.4 Tonne/meter cube)
(3) = 270,000,000 meter cube x 2.4 Tonne/ meter cube
(4) = 648,000,000 Tonnes
(5) Resource in grams = 648,000,000 T x 1 grams /T = 648,000,000 grams
(6) Resource in ounces - 648,000,000 grams / 34.2857 = 18,900,000ounces DIVIDE BY FACTOR 10 = 1,890,000 ounces
(7) Recovery rate of gold (say 80%) x 1,890,000 ounces = 1,500,000 ounces
(8) ********This would be similar to GGP's share of their recent find.*********
(9) IF ARTISINAL MINING SUB-PARALLEL TO THE THREE MAIN ZONES SUGGESTS SIGNIFICANT ADDITIONAL EXPLORATION POTENTIAL EXISTS OUTSIDE THESE ZONES AND NOT COVERED BY PREVIOUS DRILLING

You just look at the market reaction on excellent first drill hole result in OMI - very mute indeed. Does that make OMI not a worthy candidate?

Absolutely Womo.

We only need to get in the results on Labola on which Moydow has managed to get extensive data through the front door. And, they have found other targets. The 1.5 million ounce estimate, I believe, is likely to be exceeded.

Other project news will follow and as you say, and as Mr Bolton reiterated in my telephone conversation with him, as and when MATERIAL information is at hand on Bhukia, it will be released via RNS.

Hi Stevethyne

I do not think you would be far out if we can get to half (i.e. 5m ozs) as much as Buritica. My guess is around £3 to £4. See attempt to show this guesstimate I posted yesterday.
TRY SENDING AGAIN
What could OMI share price potential be compared to Continental Gold (with its Buritica project) which had announced 11.3 million ounces of combined Measured, Indicated and Inferred resource.

Continent's share price was CAD $4 (OR £2.30 based on exchange rate of £1 to CAD $ 1.7376) in January 2019 following its NI43-101 Report depicting its 11.3 million ounce total resource. How would this compare with the share price for OMI if it came up with just 5 million oz potential.

One further observation to make is that OMI is an exploration company and Continental too was an exploration company back in January 2019 when it produced the NI 43-101 Report. Continental's accounts for 2019 showed an operating (loss) of some $8.4 million which you would expect.

(1) CONTINENTAL GOLD - 11.3M OZ RESOURCE

a) Measured = 1.4 MT
b) Indicated = 14.6 MT
c) Inferred = 21.9 MT (The point to note here is inferred is nearly 1 and 1/2 times more than combined measured + indicated
2) Gold price in January 2019 = $1,278
3) AIS Costs (ASSUMED) = $800 ( I will assume the same later for PAT)
4) Margin = $1,278 less $800 = $478 per ounce
5) Profit over life of mine = 11,300,000 oz X $478 = $5,401,000,000
6) Outstanding shares in Jan 2019 = 203,000,000
7) Market value in Jan 2019 = $812 million
8) Therefore, in Jan 2019 the market value is 15% of the total future profits ( i.e. $812,000,000/$5,401,000,000)
9) Share price = $812,000,000 / 203,000,000 shares = $4 per share.
10) Share Price in pounds = $4 / 1.7376 (exchange rate in 2019) = £2.30.OMI -

OMI - WITH 5M OZ RESOURCE ESTIMATE

1) Gold price in Jan 2021 = $1,800
2) AISC = $800 (Assumed same as in Continental Gold)
3) Margin = $1,800 less $800 = $1,000 per ounce
4) Profit over life of mine = 5,000,000 oz X $1,000 = $5,000,000,000
5) Outstanding shares = 187,000,000
6) Market value % as per Continental Gold = 15% X Profit of $5,000,000,000 = $750,000,000
7) Therefore Share Price = $750,000,000 / 187,000,000 shares = $4.00 per share
8) Share Price pounds = $4.00 / 1.37 = £2.92.

The above analysis indicates that even though Continental Gold had a resource estimate of 11.3 million ounces back in January 2019, the share price is not far out from the estimate which works out for OMI based on half the estimated resource at 5 million ounces.

Hi Imac

Absolutely spot on there.

West African projects will deliver great results as and when the drill results come out.

I would like to add that one has to be extremely short sighted to sell here as the Bhukia agreement can land any time soon after the hearing. Its 10 million ounce resource potential on which we have first priority / legal right.

Steve

I agree. Zijin are probably keeping an eye on OMI

SP is dropped on every bit of positive news. Hold for long term gains.

My 18275@29p is showing "unknown" - whatever that means

I managed to buy some more after trying many times with Hargreaves

Sergey - 40p I would not be surprised