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Hi Legalwolf, I would have thought HR3 holes 5-8 in June. They are really moving with Midas. I note on Thursday they were already on the second drill hole at Cherry Tree, so I guess it depends how they bundle up the samples. We don't know how many holes they are drilling at Cherry Tree maybe it will be it batches of 4?
New tweet re 7 day ct break
The Exec Director at @MineralsCouncil of Australia has confirmed that Mining & Exploration fall under 'Authorised Work' and our team are able to continue to work with covid-safe plans.
For interest CB interview re cmrs & jlp
https://youtu.be/2WFUFdHX62Q
Thanks. I am a holder on Jubilee and we have been waiting to understand where the next phase of expansion was going to be.
Bought in here now at these levels as I see plenty of upside for both companies.
@Shorn, try this
https://t.me/Caerus_CMRS
Just watched a short video on cmrs telegram with Colin B talking about the Jubilee way, the process of understanding the DNA of the cmrs sites, how does cu and au sit today rather than 30 years ago, samples to be taken to Joburg.
Hi Jonah, with respect to your question re understanding how much material is in Cyprus wrt CMRS and CHF, the following comes from CMRS's rns re Jubilee on 4 May:
its substantial, 100% owned surface stockpiles of high-grade remnant ore as well as associated copper-and gold-bearing marginal ore, waste rock and tailings. The Company's in-house and uncertified estimates are ca. 15 million tonnes ("Mt") in all categories of material within its portfolio, not including the >3Mt within licences owned by PR Ploutonic Resources.
If this figure was to be correct for cmrs and the material contained say 0.3% copper, then my beermat calculation for 18mt would be 54,000t cu @$10,000/t revenue. Deduct cost to build assets, cost to produce $4-5k/t, there still seems plenty of money for the JV. Happy to be corrected on my figures.
Atb
Hi Jonah, I can't believe LC would be looking at the potential of one without the possibility of the other, economies of scale etc, so I like both plays. After the recent highs of 28-30p looks reasonable for some upside from sub 20.