Member Info for Professor1

Good morning Womo / MP, and all

I agree. We may need to raise fund however my thinking is, since Mr Bolton is very much against dilution, it may be small sum for other needs. To finance our other owned projects, we could see possibly see other JVs or wait for the Bhukia to materialise. In the case of Bhukia, if the state owned co is agreed to take part then we could have substantial sums from the state govt which could be used for our other remaining projects. Just a thought......

Forgot to mention - 70 KM of mineralised corridor

Mickey

Often placing is seen as a bad thing. With Tietto Minerals, they raised A$ 56.6 million via placing in September 2020. Market cap is A$190m with issued shares of 451m. PFS in Q1. They own their rigs - they currently have 6 rigs going 24 /7. 70,000 m of just diamond drilling

Hi MP

Welcome and yes please do look at these two companies. I think you will see the potential

Hi Mickey / Hman / Keith

They are:

1) Tietto Minerals and

2) Mako Gold

Please do the research and would appreciate to know what you think of these companies

Good luck

Indeed Mickey - West African plays are going to dominate.

I have been doing research on 2 Australian companies listed on ASX and they both operate in West Africa and so far they seem very good companies - hopefully will complete looking at them over the weekend and if anyone is interested just shout.

Hi Womo

Even if they did, my feeling is that we are going to get some exceptional good news here very soon.

Hi Datacruncher

I am very much for long term here and in EUA, OMI, KAVANGO and ORR. I never trade simply because I am useless at it and secondly I hardly get time due the profession I am in. You will notice a lot of my posts are after midnight when I do my research (and as a result get shouting from my other half)

So much research

Hi Womo

I had learnt my lesson when I was in GGP and Newmont left. I had in panic sold my 2.2 million shares. I was new to AIM then. I sold even after having done so much there and used to post the analysis regularly

Hi Magoo

Thanks for posting that and alerting us all

Hi ClosertoGod

Good morning . Absolutely I am in the UK. In fact Mr Bolton did ask me where I lived.

Valuefinder

Whoever this guy is people should not fall in the talk. We know we are expecting good news here. There is no way this person could have any information.

Hi Hypermarlin

Please trust me that I only go by Professor1 on wherever I am invested in. Mr Bolton did ask me what name did I have on the chat board and when I told him he said to me that he reads my posts / analysis of projects quite often.

Sorry replying at this time as I happen to be awake.

Hi Isomer

What I am not sure about is if the reconnaissance permit for the remaining blocks (i.e. 207 sq km less 21 sq km = 186 sq km) is still with us or do they lapse with time. However, the question is what has stopped the Rajasthan Govt all these years from auctioning the remaining blocks.

If we achieve an "amicable agreement" with the Rajasthan Govt on our case with them joining as a minority partner on the 21 sq km part and if that govt is able to auction the remaining blocks of 186 sq km then who is to say that we may not apply for some part of that pie based on any new relationship established with them.

Hi Isomer

Oh - that was posted by that Bitcoin guy and I know the reason why he/she came and posted the rumour here.

I am also invested in Kavango Resources and some days back, an investor called John saw on Kavango chat that I was also invested here in PAT and asked me about the prospects of PAT to which I obliged. Bitcoin, is also in Kavango I think may have read about an article published in India which probably talked about the State Govt wanting to auction the REMAINDER OF BHUKIA BLOCKS.

PLEASE REMEMBER WE HAD RECONAISSANCE PERMIT FOR OVER 200 OR SO SQUARE KM BUT WE ONLY APPLIED FOR THE LICENCE FOR 21 SQUARE KM.

I posted a few days ago the relevant extract from the INDIAN LEGISLATION FOR MINING which I am copying here again and which will remove any fear that the Rajasthan State Govt will auction the prospective blocks.

" The RNS previously released by PAT have confirmed that we have satisfied all of the conditions in (a) to (d) inclusive and therefore, we retain our preferential right under Section 11 (1) of the Act. Hence we can JUST CHILL.

Central Government Act

Section 11 in The Mines and Minerals (Development and Regulation) Act, 1957

1[11. Preferential right of certain persons.—
(1) Where a reconnaissance permit or prospecting licence has been granted in respect of any land, the permit holder or the licensee shall have a perferential right for obtaining a prospecting licence or mining lease, as the case may be, in respect of that land over any other person: Provided that the State Government is satisfied that the permit holder or the licensee, as the case may be,—
(a) has undertaken reconnaissance operations or prospecting operations, as the case may be, to establish mineral resources in such land;
(b) has not committed any breach of the terms and conditions of the reconnaissance permit or the prospecting licence;
(c) has not become ineligible under the provisions of this Act; and
(d) has not failed to apply for grant of prospecting licence or mining lease, as the case may be, within three months after the expiry of reconnaissance permit or prospecting licence, as the case may be, or within such further period, as may be extended by the said Government.

THE WORDING OF SECTION 11(1) COULD NOT BE MUCH CLEARER. ANY PERSON WHO HAS BEEN GRANTED A (1) RECONAISSANCE PERMIT OR A (2) PROSPECTING LICENCE SHALL HAVE A PREFERENTIAL RIGHT FOR OBTAINING A MINING LICENCE / LEASE. THIS IMPLIES, AS I UNDERSTAND IT, THE STATE GOVT CANNOT AUCTION THE REMAINING BLOCKS - ITS ILLEGAL

I hope this helps.

Hi Isomer

Sorry - which rumour was that I think I have missed it. what time was it posted please?

Hi Caravan and all

I had written earlier to Mr Bolton and received a response asking me if we could speak. I was indeed taken aback. Mr Bolton called me shortly afterwords and we spoke for around 15 mins.

He came across really down to earth humble person but very determined to develop the business of PAT. He talked about very much the same things that were posted here, I believe last Thursday at 12:13, by a poster called "ClosertoGod" (please see his post at 12:13) who also spoke with Mr Bolton last week.

On India, the decision on the case dates being pushed back is not really in company hands. It seems that the last two delays were caused by the Covid situation affecting that particular State very badly. As soon as material information is available, it will be released via RNS. So we just have to be patient with this one.

On the West African projects, as has already been posted here by many of us, we all know that these appear to be great projects and that we are expecting news soon.

No sensitive information was mentioned.

Gold price somewhat weaker?

Good afternoon Pollack and everybody here. Briefly had a look at ORR around March last year and on proactive but completely forgot about it until yesterday. Anyway, never too late!