Member Info for Shedulike

Teaye if you look on the actual London SE site there is more info on the trade flag. Just noticed that if you click on the i button on the end of the trade on here it also says that it is 'Delayed Publication'.

Teaye probably because the trade isn't from today - look up P LRGS trade flag. It could be a buy from last week.

Interesting trade - looks like it could be from last week. There is another 400,000 trade on Aquis as well but no trade code visible, something occurring.
‘LRGS’. The application of the deferred publication is an option and not an obligation, therefore the ‘LRGS’ flag has to be used only in case of the effective use of the deferred publication. It can be applied alone or in combination with the flags under i), iii), iv), v) and vi)

Just been fixing some wall insulation and the heats got the better of me, ironic eh? Have been mulling over something though, is it possible that the mets don't have to come to market before a deal as anyone under NDA gets privileged access to the data with the undertaking they can't trade our shares. I guess the big question about a possible JV is whether we have proven enough to get someone with sufficient clout to fund not only a BFS but perhaps some of the CAPEX and maybe these green energy ventures being hinted at on Linkedin. Frankly I don't know but I still have a nagging feeling about Lundin, I don't believe they have ever gone away plus they have created a separate renewable energy business in June (Orrön) assets in Scandinavia but stated strategy of expansion in Europe. Good to see some interest stirring anyway though cautious that it could all fizzle out or we get a raw deal from a big biffer like Lundin. Ps. Myles did once say Toral is too small for Lundin so that bonfire may have already been pi**ed on right from the top, so to speak :)

Huge amount of money being spent on quarry restoration in the region....
https://www.elbierzodigital.com/cantera-catisa-medulas-quinones-2022/434489
similar site visit on our manor:
https://twitter.com/LtdEuropa/status/1407634442492039168/photo/1
I do acknowledge there is an issue in that we won't be producing the infill material until we're mining and we need money now but it shows that these projects are happening in the region.
CHRI5P we did have another project which came with the Toral licence called Lago but we chose to concentrate on Toral. I also think we may not have heard the last of Antonina.
On the possible JV, I personally don't think we're hear anything until the metallurgy is out, there is a huge amount of information not yet known to the market so I'm looking out for that first and then (fingers crossed) some sort of deal.

Sure Teaye - it's all about commodity security. Zinc is an abundant element but there's heck of a lot of demand for it. Looking at Twitter I really hope this isn't an orchestrated pump but I still strongly believe we have an attractive project and it wouldn't be surprising if someone wanted a piece of it. Intriguing hints about the renewable energy diversification on the licence and I believe there will be public money for the landscape regeneration when that becomes a reality.

I don't think JV is unrealistic but if it does happen it's all about the terms, this is where we need MC to represent LTH's and not roll over just to breath life into the bargain basement shares he's partly getting paid with. I often think that so much depends on what the Junta want - economic activity, jobs, landscape restoration and so on, all positive in our interests but rewarding shareholders who have supported this enterprise throughout won't even make their checklist. I also think the market has to see the final metallurgy before anything corporate is announced - would just look so dodgy if another party comes in shortly before a massive de-risking element of the work streams gets delivered.

A mining / green energy JV would make sense of these conferences that keep being flagged on EUZ Linkedin.

Mm's unfortunately not, there have been Covid delays, I guess there are stricter isolation rules in Spain than here. I still think the first drill just has to be complete soon. With my usual optimism bias it could be a good thing if they like what they found they could be going deeper or wedging off. Must admit I've never felt so in the dark here so a little restless.

There's no way he can have the drill results if you're talking about resource drilling, they haven't completed the first one yet, when they've completed the set there's usually a one month wait for assays then from memory the same again for that data set to be converted into an updated JORC. The 'one thing' appears to be in respect to the final mets the bulk sample for which came from from the 2021 drilling.

Flippin heck these 700m drills took just over a month in 2019, can Covid alone explain the extra time now? I reckon at the current rate of progress (assuming a 'series' of drills can't be 1 or 2 but 3) plus allowing for return of assays and calculation of JORC we could be looking at Feb 2023 before we can officially log the extra resource. Myles is either as laid back as he comes across in interviews or he knows something we don't. At least he has a strong incentive for his shares to be worth something in 2023.

Highside I don't know but if the same group postponed financing until after mets and further drilling the terms should worsen for them and by rights improve for us to reflect the risk reduction. Of course that assumes they're playing ball and don't have us over a barrel which admittedly could be the case if they're the only game in town. There's still no way of knowing why LR left, for me most likely a difference of opinion on strategy with Myles closely followed by an insistence from an institution either due to costs or they just didn't have LR in their plans. There's another possibility at the back of my mind which fits with his complete lack of Linkedin activity but it's very speculative. The 'just one more thing' is intriguing Grappa perhaps Myles is a Columbo fan :) if it's not WAI then what could it be with regards to mets - perhaps a last tweak on the ore sorting from Tomra?

Exactly ten weeks today since we had an update. It is brutally hot over there, wonder if that is impacting on drilling? I know there isn't a donkey turning the drill (though with the cost cutting you never know) but maybe shorter shifts, longer breaks? Guess they drill for O&G in the Middle East with all the heavy protective gear so it can't be impossible.

Sarah I don't doubt that there is much mistrust here for good reasons but your assertion that the market never lies isn't true. If the market was a perfect weighing system for the value of a company there would be no opportunities, of course that applies in both directions. I think there is a huge long opportunity here but if the sidetracks fail along with the horizontal drill at PAT-E1 then of course this will not be a good investment but on the balance of risk and potential reward as things stand I think there is a strong likelihood that BLOE will grow from it's current £9m mcap.

I agree, looks good to me. I think the market is underestimating the potential value of what was acquired from Schlumberger. The fact that they were happy to yield it was partly the knock on effect of their unsuccessful change of strategy from service provider to taking stakes in upstream activities. They had an unhappy experience with SOU in Morocco for example and pulled out of all high risk exploration as I understand it. Assuming the company is being straight with us next news is the non-dilutive funding for an accelerated work programme and the country is clearly supportive of BLOE.

To be fair SPI drilled throughout Aug 19 on TO-23 and the Spanish Lab returned the assays within a month but I suppose Covid wasn't around then. Total depth this week surely???

Personally I see the complete metallurgy as the more important step to unlocking a deal. We know the resource is there with vast potential to scale up the exploration, the current set of drills even if very successful can only move the ball forward so far. The metallurgy should give near complete certainty on the economic viability of Toral and if a bigger player wants it they'll have rigs all over the place, I don't think they'll need to wait for this programme to end. In any case at the current rate of drilling plus the wait for assays and then JORC I can't see this cycle of the resource programme being complete until Q4 at best. Surely something has to happen on the corp front before then anyway?

Well he's indicated that they're pulling together the mets but are waiting on one final part of the jigsaw. The big question is will the complete metallurgy finally pave the way to deliver on the 2019 'non-dilutive optionality' comment? If not it's really difficult to see what other options there are.

Perhaps should have said "pretty much de-risked" as a viable mining project. De-risking as an investment will need a solution to our perpetual cash shortage but surely we can attract the right partner if the metallurgy stacks up.

So I think it's safe to assume that if the hold up is not at WA but another third party then they will have settled on the final processes and will therefore have the full picture on deleterious elements. Would be encouraging to think that if they're still resource drilling then there's nothing catastrophic in there to render it pointless :) This could be pretty much de-risked soon.