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MGA has engaged a contractor for a minimum of 1,200 metres of diamond drilling at Creswick, and the first drill hole in this programme is now underway. It is planned to drill around 10 holes from drill sites located on State Forest land within exploration licence EL006184.
Hi Webba, above was in last rns re CresWick drilling. Atb.
@Shorn, Ray totally agree, especially with the clean up of Kabwe achieving commitments to the Zambian government.
Esg is a huge selling point and there are more ethical funds looking for companies with the right credentials.
https://www.australianmining.com.au/news/victorian-budget-injects-35-7m-into-resources-sector/
This can only be a good thing in speeding up the administration processes.
Hi 3cardbrag,
Looking at the timelines of Jette and even Jubs bringing the Elephants on line, this is not a quick fix, so plenty of opportunities to work on. I am sure Leon and CB have a medium term strategy, both commercial and geographical, to achieve the goal of becoming a mid-cap, as talked about in the January presentation.
Hi AG, thanks for responding to my question. The 12Jan RNS didn't indicate why Bailleston was prioritised with Midas. I think CB mooted in an interview that they might even buy another drill rig at that time.
As i said to LW, with the exception of the unexpected placing (which has actually made ECR better funded) the investment case remains the same, some patience required.
Hi AG, thanks for responding to my question. The 12Jan RNS didn't indicate why Bailleston was prioritised with Midas. I think CB mooted in an interview that they might even buy another drill rig at that time.
As i said to LW, with the exception of the unexpected placing (which has actually made ECR better funded) the investment case remains the same, some patience required.
Hi Bojo, was it always the plan to drill both consecutively? I thought the decision to continue with CresWick was more recent. Maybe they were just waiting for confirmation from the drilling contractor.
It's interesting as Jubs are in the early stages of maximising the profits for this technology across the different commodities.
As @olddrongo says, the big boys will get involved, it will be how/if Jubs get involved at that point. There maybe a point where critical mass means that JVs with majors with smaller margins become an attractive option/addition.
I am not a specialist in this field but is this a situation similar to Ocado where the automation processes developed are value to the company and are being bought / licenced to companies like Tesco, instead of Tesco spending millions developing their own technology? Or will Jubs just keep it ring fenced?
Hi Seis, it's no surprise that other companies are wanting to get involved in copper reclamation from waste. The huge issues around storage in tailings dams needs to be addressed. I watched a presentation by Sandeep CEO Newcrest with BofA and he was challenged on a recent incident at one of their tailing dams.
Jubs are ahead of the market in this space. It makes me wonder how much up-scaling could be done.