Member Info for Prospector

No, there have been many ore bodies with surface expressions. However, valuable deposits with surface expressions are much less common these days, as they are considered the low hanging fruit and most have already been mined. With better technology today, explorers are able to accurately identify deeper anomalies. Having a deposit that requires minimum excavation is generally more economic.

OK, so go and talk about it on the REE chat.

MP, I think people should consider the cost to mine and process Altona's varied minerals.

Kendrick has a simple easy to mine and process resource of high grade light rare earths, with a very high concentration of the important magnet rare earths, i.e. Neodymium and Praseodymium.

There's plenty of time to get permission for additional pads, which will build on the current resource measurements. Drilling has already started on Pad 4.

No need for planning permission to do 8 holes on Pad 4, which is where the infill drilling is concentrated. Additional permission is for expansion drilling later.

I believe there are lab results coming for historic drill cores also.

Rockfire has to wait for government approval to drill up to 30 holes. Some will be for moving the existing resource from inferred to indicated. DP said he may not have to drill as many holes as planned on the existing resource to satisfy that requirement, leading to the scoping study. Germanium will likely be included in the next resource update as inferred, but will certainly be included in the scoping study. It is quite clear he wants to test targets along the remaining 5 km strike which is mostly untested. This drill campaign will reveal more about how large the resource could potentially be. If there is continuity of mineralisation along the whole license, then that would be a serious development and worth a lot more than £5 million. Don't forget every hole drilled so far has hit zinc, lead and silver at reasonable widths. We will find out soon if this continuity extends to germanium as well.

There will be updates on large scale surveys and sampling soon. The resource is likely to be far bigger than originally thought.

The market cap is still only £4.7 million.

Oldapache, why do you have to keep provoking a response from trolls? Grow up.

The next news is likely to be about the engagement of a work over team and rig for Clink#1. Could be any day now.

1. Main regional reservoir hosting primary helium production.

2. Treasure #18-1 logged 10-26ft of gas in the Flathead sandstone but did not conduct a flow test over the interval.

So obviously with 2.5% helium already logged, Flathead is the prize to go after. Charles might have a bit more than Amsden.

Yes, because they don't yet know the reservoir properties of Flathead and that's what they want to find out. The aim is to make a meaningful discovery and they are putting maximum effort in to do so.

JohnHenry, because it is a workover not a well testing procedure and Charles can be isolated and quickly evaluated after acid treatment.

JH, probably because they want to get Charles out of the way first to focus more time on the real prize sitting at the bottom.

Office, don't act stupid. You just work it out from the original cash position. £4.1 mil for initial 2 drill rigs + £0.5 - 0.75 mil Clink#1 re-entry + another £1 mil for Clink#1 work over.

There will be about £4 million cash left after all the remedial work on Clink#1 and Darwin#1.

Stop lying, JohnHenry.

They still have £4 - 5 million left and that's plenty for another well at about £2 million.

Pompey, don't worry about the Hydrogen. The Flathead is the primary producer for the Montana fairway and we have 2.48%. That means there's good potential for the Ingomar Dome to end up very economic.

People seem to forget that clink#1 is the first of 2 wells planned for Ingomar, so the whole purpose of it was to explore and properly understand all formations present at Ingomar in preparation for the next drill. This is why Charles will be fully evaluated and then the Flathead. If Charles is not commercial, then the second well will focus on the Flathead to get that helium and hydrogen to surface. It does look like the commercial helium is being produced from the pre-cambrian and may or may not be migrating upwards in small amounts, but indicating good sealed traps at the bottom. Obviously this is way oversold today, especially with Darwin coming up.