Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Think smiller, no big mining co is going to fiddle around with a small patch like that - they want scale.
5x5Croire, no UFO has not gained $4m in cash. We have got A$500,000. The good thing is UFO doesn't have to spend anything to test for lithium.
Chrisatbirdies, UFO isn't doing a JV on hanc0ck. They are looking for offtake of the high grade ore.
5x5, 130,000,000 shares is only 2% of the existing share capital. But the placing was at a premium of +25% above today's closing price.
Don't worry about them, cjmorley. The cry babies will get over it after they have run home to mommy.
Looks like a good deal to me. Get somebody else to find out if there's lithium and get a bit of cash while they are doing it. If there is commercial amounts of lithium UFO is in the money.
There probably is copper somewhere, but they haven't found any deposit. The surface samples had high grade copper and silver, and probably came from artisanal mining. The license area and magnetic response are so vast that they have to focus on small areas. The point is there could be anything there given time to explore it all.
Shatnersbassoon1, they were looking for copper/gold. But then the drill results came back full of titanium at high grades. Since they are confident there isn't an issue extracting titanium which much more valuable, they switched all resources to a production plan for high value titanium products.
Dustyslay, I only post when I think important points need to be made about companies I am invested in. Not interested in tit for tat character assassinations or small talk.
Kongolasse, the orphan period is a time after the resource value and economics are already known. For example, Greatland Gold is in an obvious orphan period and has been for some time now. With Empire the value and economics have not yet been revealed, so really we should think of mineralogical and metallurgical studies as part of the discovery phase of that cycle.
Genghis15, that may apply to conventional mines. What do you think the SP will do when all studies prove a high value TIO2 product can be produced and a JORC compliant resource of billions of tons is defined? Do you think the market cap will still be £37m?
If you read the RNS you will see that the proving of TIO2 extraction and removal of impurities will be completed and documented before a JORC compliant resource is defined. That's why they have teamed up with Curtin Uninversity and CSIRO:
o Definitive mineralogical characterisation studies of titanium mineralisation and related host alteration mineral assemblages to further aid both on-going metallurgical studies and exploration targeting of high-grade zones;
o Definitive metallurgical characterisation studies to establish ore character, beneficiation steps to separate titanium bearing minerals from gangue minerals, titanium minerals leachability and solution chemistry, and final TiO2 product assessment;
o Finalising a process flowsheet and Demonstration Plant design that will establish, confirm and provide valuation metrics for an economic process and resultant high-value saleable product;
o Definition of a maiden JORC-compliant Mineral Resource Estimate that will provide the basis for a mining option study and eventual ore reserves;
Well it might not be totally clear, but take a step back and think it through. The TIO2 covers almost all of the license area, so makes no sense that Century can retain rights to the while of Pitfield and Empire would not be scaling the whole project up and spending money if they did not have the 70%.
99icecream, there is nothing in the JV that states copper and gold only. Stop imagining things and read it again.
It doesn't matter who is right or wrong about share price predictions. It also doesn't have anything to do with the fundamentals of the company, otherwise how do people explain the GSCU drop? No, it's just the dynamics of the market with people selling between news because they are like children who can't stand waiting. With less than 600m shares in issue this will go up just as much as it went down with favourable news.
From what I've seen so far, Empire has already identified the Australian Gov. depts and are on a mission to get funding that way. I would think Pitfield is of high strategic importance to the country and I can't see the government dismissing this opportunity. The metallurgical /processing analysis and pilot plant design must be completed and submitted to get significant funding.
The current drill program is due to be completed by the end of next month. The first diamond drill cores could already be on their way to the labs, and SB has said the turnaround is not long since the lab is fairly local. Most of the drilling is focused on the sandstone beds which have been identified as the most highly mineralised zones - we are looking for consistency of grades. This drill campaign will also contribute to a maiden resource definition. We can expect more news on the mineralogical and processing studies also.
I suppose now we have to suffer Glennhoss becoming an even worse troll than he already was now he's out. If there was ever anyone who fits the definition of a "bitter clinger", he is it.
Close the door on your way out.
Glennhoss, stop embarrassing yourself.