Member Info for Prospector

picax, it knocks trader confidence. But not investor confidence. The only people who can't see the placing as positive are those who expect to cash in before Christmas.

Current mcap is 34 million. What a bargain. Soon be 60 million.

Did you see those finer grained cores at the bottom of the hole? Many veins and peppered with chalcopyrite throughout. Looks promising.

Drill hole 5 could be a game changer, especially if they hit the top of a higher grade ore body.

David price has said they would drill as long as possible before the wet season - he thought possibly until mid December. Drill cores are being sent to the lab after cutting logging as each hole is processed, so not waiting for the drill campaign to be completed before sending to the lab.

Still only 40m mcap.

Potential catalysts in Q4:

1. Elizabeth Hill drill results and next drill program.
2. New drill program for Hanc0ck iron ore.
3. Exploration permits for Brockman license.
4. Permits for Mexico silver.
5. Donovan 2 copper findings.

Maybe these coming events explain the rising share price.

At 1.15p we are still under 40m mcap. Unbelievable.

5x5, yes that's true. But modern standards mean that many of these old measurements can't be used, so unfortunately they have to validate and prove it using current standards.

The aim of the current drill program at EH is to define an initial JORC resource. We are at the resource definition stage, which means we could get an inferred resource greater than 4moz.

cjmorley, I know exactly what you are doing. You are just trying to provoke a reaction with your sarcastic comments. If you can't understand the meaning of comments you need help. Nobody has said that we already have a JORC for EH, now stop your nonsense.

Don't forget the Mexico silver - San Celso and Los Campos as well. There's also the new Andromeda extension to San Celso, which is a continuation of the Andromeda vein with high grade surface readings. The drill permits could arrive any time. If we take all 3 deposits together it is potentially a lot of silver.

cjmorley, how do you manage to invest in stocks if you don't know what's going on? MAX is referring to the plan to get Elizabeth Hill to a JORC measurement, as Bill has already explained.

Sorry, got mixed up with UFO. For ROCK, the last company presentation shows 7 planned holes (all diamond core). Ignore my last post.

The number of holes has been increased since DP decided to use reverse circulation instead of diamond cores to speed up the expansion drilling.

Big silver grades coming soon.

Once the previous exploration findings have been proved, then expansion drilling at Copperhead may happen in parallel with inaugural drilling at Copper Dome. We have about £1.2 million to cover that. I would be happy to see a placing for another £3 million if initial campaigns go as planned.

These porphyry copper systems are nothing like Havieron which is an IOCG system. For Rockfire, think in terms of low grade and large scale.Porphyry copper deposits are often very large. In contrast, Havieron is an extremely high grade gold / copper deposit - very different. As far as re-rates, it depends on how investors see the potential. It's speculative, but early signs are good. Of course Copper Dome is slightly different, still a porphyry anomaly, but may be slightly higher grade with gold too. I invested in GGP from mid 2016, and now I am here.

StrummerJones, you're are correct. You don't know anything. Why would you be looking for a 2% average grade for copper? The important factor here is the potential scale of the deposits. For context, look at Rio Tinto's Winu project.

https://www.mining.com/rio-tintos-winu-copper-project-just-got-bigger/

You can see that the grades at Winu range from 0.45% to 0.68%. Rockfire may have similar grades, and potentially has two large copper discoveries. So far, only a tiny part of the one deposit is being explored down to 500m and is open in all directions. There could be higher grades at depth, but that is not required if there are consistent average grades over a large area down to 500m.

It is important to understand what is happening in the broader market, not just UFO. Keep an eye on what is happening in China. Despite the recalibration going on in China, they will inject massive liquidity into the financial system to support continued growth - it's just that the expansion will be more orderly. The property and energy crisis will not last. The container shipment problems will fade. Already, a huge ramp up in ship building and container production has started. Iron ore will be in demand.

So you are selling at what is most likely a bottom in the market. Great call Slimgizmo.