Member Info for SeisNav

As it’s Valentines Day, here’s a little something what I wrote:

Roses are red, violets are blue
Ella’s actually a Scotsman
Och aye, the noo!

I’m seeing a green blob so I can only presume that it’s ‘little miss can’t be wrong’ with an apology for his wildly inaccurate prediction!

https://money.tmx.com/en/quote/RAK/news/5315257137651868

Extended for a further month as suggested in the recent presentation.

You’ve got to wonder how much the Russians are profiting from all this instability they are creating in the markets.

The nearest drill result to our eastern area looks quite promising: 100m @ 1.95% Cu and 20 g/tonne Ag in the adjacent area (Zone 5). Obviously its no guarantee of anything but definitely worth looking at.

The Arc licences certainly look more interesting than the African Pioneer ones. They seem to be mainly around the margins of the anomalies, not actually in them. If AFP can generate interest in those then I’m sure we will have no problem with ours!

As things are a bit slow in Zambia at the moment I though it might be worth having a look at what we know about the 2 areas we have in Botswana:
https://twitter.com/NavSeis/status/1492914506778959875?s=20&t=xmHY8T_rlMN83yqiw0nLdg

I've put together the various info from Arc / Khoemacau and African Pioneer and added it to Google Earth. There's an interesting EM high in the Eastern licence area and the other one lies along the edge of a large anomaly. Certainly look promising. Note the areas in white and outlined in black are African Pioneer areas.

These paid derampers, of which Ella / CUN / NorEscO is undoubtedly one, will be using VPN software which hides their actual IP address from LSE. Maybe they think that means they are untraceable but it certainly doesn’t.

“ Can police trace VPN?
Police can't track live, encrypted VPN traffic, but if they have a court order, they can go to your ISP (Internet Service Provider) and request connection or usage logs. Since your ISP knows you're using a VPN, they can direct the police to them.”

They must be getting well paid to risk a prison sentence.

F79 yes I get your point regarding JLP price, luckily I spotted them when they were at 2p (although my average is a bit higher than that) a share so doing very well thanks. I’m sure there will be other companies entering the market so an area to keep an eye on.

Shorn, for sure I agree that mining of quality deposits will always be needed, just wondering at what point do the miners consider it uneconomic to mine low grade deposits when they could reprocess decades worth of tailings. Of course it may be that both are needed to meet future demand.

I think this infographic helps to understand the size of the global tailings situation / opportunity:

https://elements.visualcapitalist.com/visualizing-the-size-of-mine-tailings/

Undoubtedly mining will need to continue to meet increasing demand but don’t under-estimate the opportunity in tailings (notice that almost half of global tailings are from copper mining). They have the advantages that:
1. They are already at surface so no mining costs
2. They can be easily sampled to check for grades / geochemistry.
3. A process flow can be designed to maximise extraction.
4. By processing tailings responsibly there is a positive impact on local environment and population.

I see this as a massive growth industry and probably one that the major miners will eventually get involved in. Full disclosure, my biggest holding is in metals reprocessing and ironically I have Colin Bird to thank for it!

When there are stockpiles of tailings which can be processed at a fraction of the cost already on the surface it does raise the question, is it worth the effort right now to mine more of them? I’m thinking of low grade porphyry’s which would be very expensive to extract…. Maybe McElla has some thoughts?

Maybe Ella / CUN / NorEscO would like to provide a postal address whilst he’s at it… It would save Arc from bothering LSE for his personal details :-)

https://tinyurl.com/av6yrvzn

NorEscO…. North East SCOTLAND! It’s all falling into place and the silly beggar is giving away his location too :-)

Of course anything can happen in the future but as I say the market is so massive that having an advantage in terms of technical know how is less important than having the tailings in our possession (in my opinion). Other companies will inevitably find ways to match our extraction methods at some point but they will always be behind in the race to acquire the best tailings, and once we have them, they will be an appreciating asset as metals prices rise.

If one of the mining majors decided to buy us out they could dramatically scale up in a relatively short time. As mines become more scarce and grades drop we may well become more attractive as both an integrated part of the mining process and also as a division processing third party material.

I think JLP is pretty unique in having such a diverse portfolio of metals. There are others who focus on one metal (or metal group) such as Sylvania, Tharisa (PGM’s) and in North America Jetti Resources is developing a system for extraction of low grade copper. I’m not sure if competition is the right word though because the market is so vast there is more than enough room for multiple players and I’m sure more will emerge as the scale of the opportunity becomes more well known.

JLP are still in the process of building a solid foundation from which to grow. Once the copper ramp up is well underway we will have plenty of free cash to expand further afield. There is always a danger of overreaching at this early stage and frankly they don’t need to with so much opportunity on their doorstep. In my opinion the key thing now is to acquire the high grade tailings before anyone else does, which is exactly what they seem to be focusing on.

I seem to remember Homey confidently predicting that there would be a huge shortfall in the 50,000 oz. target for last year, quoting something like 35,000 at one point. Guess what… he was wrong! He’s doing the same again based on figures that he freely admits are impossible to accurately predict, and quoting a figure without quoting what the margin of error is. Forgive me if I chose to ignore his predictions :-)

From RNS of the audited results to end of June 2021:

“ The significant upgrade undertaken at the Inyoni PGM Operations which was completed post the period under review in October 2021, has enabled Inyoni to pursue a variety of PGM feed materials ensuring a long-term sustainable operation. The disruption to production caused by this significant upgrade during the current H2 CY2021 period is expected to be recovered during H1 CY2022.”

So Leon is confident of making up the shortfall from Inyoni disruption. I guess we will see who is right in the fullness of time!

"disruptive and vexatious"

If Ella has any unfortunate issue my guess would be that this is what they are called :-)

They also have the option to process Nickel / Copper from Enterprise but I believe that mine has been parked pending a better price for Nickel. The price has been increasing this year so they might consider that as an option if it becomes worthwhile.

I was wondering about the target in the north end of the Zaco block (Nyambwezu) which shows up very strongly on the EM data but only shows a small copper anomaly (although it does show some evidence of sulphides), could it also be a Nickel dominated deposit? It’s pretty close to Enterprise so may be a possibility.