Member Info for Shedulike

Google Las Médulas, it's on my list of destinations if the (tempting fate I know) Toral trip ever happens.

Jedster I think we've had a great day, not everyone is here for the journey and there is still some risk (water, delet's, funds). I was interested in Private's comment as I was thinking the same thing, not so surprising that there was no interview after the Marketing Agreement RNS but definitely today given the chance to shout about something 100% positive. In a way today's RNS could have been partially priced in if more people had acted on the evidence of TO25, it was obvious it would impact massively on the JORC but I guess many are cautious and wanted to wait for the independent report. Also you could buy these under 5p not so long ago so we're making progress, all good and set up for next week.

Lost - LR mentioned the possibility of a new scoping survey.

That's very magnanimous of you Lostcause, it's still not too late to snatch victory from the jaws of defeat IMO. Not a buy recommendation as you rightly point out you were worried about funding and that's still an unknown. Near term are mets, ore sorting results, new SS and PFS then eventually they are going to have to explain how they're paying for all this stuff!

Same fundamental operational plan as always tsbs, the only difference is more people are appreciating it because their minds are not befuddled by the usual misery of the SP. I might even get some apologies soon at this rate, okay not holding my breath :)

On the mets, although there is still some risk I'm hugely confident that any deleterious elements are not going to be pernicious to our economics. Conrad Partners have been all over our data and want to market us, that's a good indication that everything adds up. Can't wait for next week, think even the bashers will be demanding Chris Gayle cedes Universe Boss status to LR soon :)

Justice - 25% is not the re-rate I'm expecting. Of the pieces of news we talked about yesterday this was the one that was a nailed on result as we all knew about the mega result with TO25. The unknowns are conclusive mets and funding, get those in then you'll see the real re-rate. All good for now.

Inferred to Indicated DW - positive.

Just a hunch Brikz - as ever I don't know but it would make sense to wait for the mets and conclusive economics of our products.

Hi Brickz I think the broker note might come after mets - just a guess but I always felt it was the incomplete mets that was the drag on their forecast. Not a time for triumphalism yet but believers have been banging on about the unbelievable result at 025 and interesting to note this has also "Enabled us to tie together two areas of the mineable lead, zinc and silver deposit into a continuous Indicated resource zone". The spatial representivity coming in the current mets will strengthen that model further. Laurence Read 'idiot' comments reducing :)

By the way I think "Sunlit Uplands" was Churchill so I better reference that!

Thanks Boka interesting stuff. I think the ore sorting could be revolutionary to the economics in that it cuts back on the amount of ore you wastefully transport and process at the smelter. What I don't know is if can separate copper from other ore, XRT (X-Ray Transmission) sounds pretty clever so lets hope so :)

Thanks Boka interesting - do you have any ideas about how we separate the copper from our other ore, just wondering if that has always been a conundrum but could it be one of the functions of the ore sorting technology? Just think of what's coming up in the near term - hopefully removal of albatross (funding fears), de-risked metallurgy, new JORC resource = slingshot SP = sunlit uplands for all that have endured the risk over the years.

Okay got you - I was being too literal. If it was designed to confuse me it certainly worked. From memory I was a bit excited about a possible porphyry as we had copper at depth and in shallow drilling I wondered if it fitted with a magma event. The halo concept I haven't had much luck with. Every search I've done to date you tend to get very long academic papers and I haven't found anything that could be particularly relevant to us.

Don't quite understand that Boka - how is he feigning to be weak? To be fair half of it makes sense but the second bit I took as being deliberately vague. Should have just said we're not in a position to give definitive answers on the copper.

I'm a bit confused about the copper as they always skate over it with the exception of that one emphatic comment from LR that whoever develops Toral will be mining copper. If you're wondering why I'm confused here's a reply I had last year before I gave up trying to predict what it will mean to Toral....
"not a vms not a porphyry but halo concept from those consequential in terms of theoretical behaviour".

Brikz, I'm almost certain it's the new JORC resource announced on the 5th. That in itself is exciting enough as the super core from 025 will be added.

I suppose as the intention to list in Moscow was first officially acknowledged back in February it wasn't just down to UGC but the Board then generally must have seen it as a good move.

Right so it was just under 4 months then between first and second phase mets (with a delay), so could second to third be similar? I had been expecting them to be quicker thinking that it was more a case of just applying the already established optimal recovery methods to the 025 cores to demonstrate spatial representivity but as well as the ore sorting and deleterious tests I had overlooked a number of other aspects to the current metallurgy, namely:
"· Further optimisation testing to continue to develop suitable conditions with which to maximise the recovery of lead and zinc from the ore;
· Variability testing on samples of varying grade/lithology/mineralisation type and spatial location across the deposit to highlight any potential change in metallurgical response, including penalty levels within the resulting concentrates;
· Comminution testing to enhance the understanding of the crushing and grinding characteristics of the ore, again with some consideration given to any potential variation in these characteristics across the deposit;
· Testing to explore the potential to remove the antimony-bearing tetrahedrite from the lead concentrate by means of either differential flotation or another suitable technique such as hydrometallurgical processing".

..... So a lot of work.... but I do think when it comes everything will be weaved together so the complete economic picture will be delivered. Even Dr. Kirby's much heralded flow charts might be in evidence?

Probably best to have a read up UKInvestor - two met reports to date are 18 Dec 19 and 16 April 20.