focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
EuroSun is traded in a different market with a different sentiment. It's not reasonable IMO to compare Vast with them otherwise the wrong expectations will be drawn.
We have more assets, we are heading to production (how long before Euro will be producing?) and we haven't had to spend $200m on it - also don't forget they may have doubled but they're only doubled back to where they were in July.
The key positive to take from their licence award is that Romania is actively awarding and encouraging new mining business, it bodes well for us as well when we put in for the Blueberry licence at the end of the year.
Plus I believe Zagra to be a bigger asset than Rovina, but that may or may not become apparent once we get the JORC for it.
Yep, I agree it needs to be spelt out clearly to the market by RNS, I expect actual production figures will be needed to bring in the big crowds, but hope anticipation and policy reform may pique the interest of those with a bit of savvy foresight.
Perro, unfortunately only 5 hours kip before something woke me, so thought I'd check in here for a chuckle, and I must say I'm never disappointing by some posters in here.
Anyway, I'm utterly convinced Marange and other parts of Zim have yet to yield it's richest find, but can only trust in my own research.
Marange isn't something anyone can slap an NPV on, can only go off an estimate thanks to the alluvial nature, so whatever figure gets announced after pitting and bulk sampling I would expect would be a low-end conservative estimate, IMO we may find actual production results will be mind-blowing.
But sadly the market doesn't understand the potential. I am not aware of any commercial alluvial mining operations in the heritage concessions, it's been off-limits. So there's a 69km2 area of diamond-rich gravel yet to be exploited.
And we're first in line for it. Bring it on!
=]
We're talking about a place where the diamonds were so common kids were picking them up and using them to catapult at birds. :)
Rough unpolished stones don't look like typical brilliant clear diamonds, more like dark pebbles.
Cast is right tho, there are still many to be found and exploited, and as AP put it, artisinnal miners make the best prospectors, but lacking the equipment to bulk excavate they can only extract so much per day/week.
Now that AP has employed Takawira Zhou, I'm now convinced the research he did for his thesis at Rhodes Uni a few years ago has a lot of validity... I'll repost his thesis below, there's some very encouraging details in here (amongst the very low level geology waffle).
http://vital.seals.ac.za:8080/vital/access/services/Download/vital:20528/SOURCE1
...some of the interesting bits I took from it, are that diamonds to the west of the Marange fields (like around where block T1A is) are less likely to be as large as our old "mbada" claim, but more likely to be have gem quality stones, due to how gem quality rocks survive travel over time (we're talking millions of years of movement across the Umkondo basin).
Geologists also still haven't figured out the source of the diamonds apparently - the kimberlites are apparently too young to host the majority of them so there are still more to be found somewhere. (Kimberlite mining is not commercially viable right now, alluvials and then conglomerates are the way to go.
Speaking of conglomerates, here's another juicy snippet from page 9:
"Though data is limited at the moment, the Umkondo conglomerates caratage is likely to run
into hundreds of millions of carats, with a diamond gem content of between twenty and
twenty-five percent, as is indicated from recent diamond production data. The greater part of
the Umkondo diamonds are likely to be lodged beneath the deep gravels of the Middle and
Lower Save River basin, because small remnant tilted mountain blocks and inselbergs
forming the caps of hills are what remains of the host conglomerate on the western margin of
the Umkondo Basin."
Block T1A resides along the mid section of the Save River basin.
There's sooo much in that PDF its well worth having a read, if only to absorb some of the summaries. He cites references and actual production data so I'm convinced myself.
How did this guy have access to so much production data? He was the Resource Eval Manager for Marange Diamonds. ;)
Good to have folk in here clarifying things. We all get things wrong, that's the point of having such a supportive board.
I am really giddy about Marange but also Zagra. I was reading up last night how Zagra is considered to be bigger than Rosia Poieni (which in 2012 their copper ore reserves were valued at over $7-10 billion).... Even if you shave of a 25% to reflect the current copper prices, still talking at least $5-7B
With AP now on his way back to Romania and sounding positively upbeat about his trip to Zimbabwe, we can look forward to hearing from him next week (expect he will be taking Fri off for some much needed R&R).
Here's Dodge's list tweaked a bit..
DELIVERED
▪ BP licence (Oct 2018) - DONE, signed and executed OCT 16, landmark award, 1st in 19 years
▪ Marange DD (Oct 2018) - DONE, planning
▪ AGM - DONE, all resolutions passed,
▪ Blueberry (EMA) finance (Oct/Nov 2018) - DONE, EMA is funded, 29.41% of world class asset in the bag!
EXPECTED SOON
▪ BP and Manaila Tranche 2 Mercuria funding (before end Nov 2018)
▪ BP project timelines (before end Nov 2018)
▪ Q3 production report (before end Nov 2018)
▪ Post-Q3 Shareholder Q&A (before end Nov 2018)
▪ Successes in Zimbabwe (next week?)
STILL TO COME
▪ Marange: Red Mercury and SPV JV deal (Nov 2018)
▪ Marange: Other updates (Nov 2018) - possibly news on old or new claims (podcast/AP Zim trip)
▪ Blueberry final drilling and assay update (Nov 2018)
▪ Zagra drilling (Nov/Dec 2018)
▪ Zagra JV (Nov/Dec 2018) - 1 onboard (Technical), now looking at institutional level
▪ Blueberry JORC update (Dec 2018)
▪ Blueberry permits update (Dec 2018)
▪ Plans for processing facilities for Carlibaba (Nov 2018)
▪ BP Faneata tailing processing (Jan 2019)
▪ Manaila shiny new transport fleet (Q1 2019) - 30% uplift in ore capacity + productivity
▪ BP production (2019)
▪ Eureka production (2019)
▪ News on Giant mine (2019)
▪ Diamond production (2019)
▪ Remin projects (2019)
▪ BP additional prospects, maybe JORC resource upgrade (2019)
the list goes on throughout 2019......
I asked AP a few weeks back when we can expect the BP roadmap as he'd just mentioned on the podcast it would be published by the end of that week, unfortunately he's a busy man and I guess was travelling to Zim at the time, so I imagine this is going to be a popular question when he does a Q&A in the next couple of weeks.
I have wondered if perhaps Mercuria's due dilligence on T2 required the plan to be vetted or altered and maybe that's why it's not been published yet.
Might be of interested to those invested here..
https://www.miningreview.com/zimbabwe-mining-investment-conference-london-2018/
John Teeling will be there.
I know right? As the public face of the company it's only natural for folk to point the finger at him, the guys' breaking his back to build a future for the company and all he gets is criticism... yes we're in a pinch point right now, pressure relief is due soon.
I even think there may be a cheeky RNS on Fri (he's due back in Romania on Thurs I believe). I'm going to sit on this and see how the next few weeks pan out.
Holding for news, can understand those that have decided to cut their losses. I've thought about shoving some elsewhere but don't like any of them, AP still has some golden eggs to lay in the next couple of weeks IMO.
Hullo GKB, welcome to the board. I can understand your appreciation, one thing that instantly calmed my doubts is that off-takers of Mercuria's calibre don't lend $9.5m to wheeler dealers.... the due dill required and need to satisfy the offtake agreement demonstrates AP's credibility.
When T2 lands and we're well on the road to opening BP I think people will truly begin to believe.... I used to think the licence would be enough but heyho.
SP drifting down IMO is a combination of the market downturn, people trading out for other pots of gold, and impatient holders. The two directors bought in recently on the placing at 0.6p is a massive confidence signal, plus the HNWI who investor £850k+ to accelerate the Marange project, both very recent positive moves, all IMO.
Usual reminder of recent and anticipated news due. Revised the Q3s, BP and T2 news as I doubt these will materialise until AP returns from his Zim excursion.
DELIVERED
▪ BP licence (Oct 2018) - DONE, signed and executed OCT 16, landmark award, 1st in 19 years
▪ Marange DD (Oct 2018) - DONE, planning
▪ AGM - DONE, all resolutions passed,
▪ Blueberry (EMA) finance (Oct/Nov 2018) - DONE, EMA is funded, 29.41% of world class asset in the bag!
EXPECTED NEWS
▪ BP and Manaila Tranche 2 Mercuria funding (w/c 12 Nov / end Nov 2018)
▪ BP project timelines (w/c 12 Nov / end Nov 2018)
▪ Q3 production report (w/c 12 Nov / mid Nov 2018)
STILL TO COME
▪ Marange: Red Mercury and SPV JV deal (Nov 2018)
▪ Marange: Other updates (Nov 2018) - possibly news on old or new claims (podcast/AP Zim trip)
▪ Blueberry final drilling and assay update (Nov 2018)
▪ Zagra drilling (Nov/Dec 2018)
▪ Zagra JV (Nov/Dec 2018) - 1 onboard (Technical), now looking at institutional level
▪ Blueberry JORC update (Dec 2018)
▪ Blueberry permits update (Dec 2018)
▪ Plans for processing facilities for Carlibaba (Nov 2018)
▪ BP Faneata tailing processing (Jan 2019)
▪ Manaila shiny new transport fleet (Q1 2019) - 30% uplift in ore capacity + productivity
▪ BP production (2019)
▪ Eureka production (2019)
▪ News on Giant mine (2019)
▪ Diamond production (2019)
▪ Remin projects (2019)
▪ BP additional prospects, maybe JORC resource upgrade (2019)