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The Mankayan saga continues. brings back memories from back in the days. longest running drama in AIM mining.
Been burned by CB in the past so im weary about coming back in. Has a history of overpromising and underdelivering.
Im looking for a quick in and out buck though, and im not afraid to admit it- especially with my past experience with Colin Bird i dont want sticky fingers. I am lookin type of stock I could make 50-100% on in a few months or less and BZT looks to fit the bill.
I havent been following BZT from the sidelines. When is drilling supposed to start in Africa? It says November but nothing started or just no RNS?
Sub 0.25?
Looking at previous patterns- the BOD normally come up with some pump when the SP has declined.
Ive said it before- the lithium is very long away. We need our gold to be keeping the SP going and we have gone back to the field despite dry season starting 1 month ago. I have emailed Kodal about this- on two occasions- no reply.
Yes its clear that many were invested here for the lithium and thought it would do what Premium did (almost 10 bagged in a couple of weeks).
Dont think they are wrong or right. To each his own investment strategy.
BTW- did anyone notice that his sister who posted here before- had been on LSE since 2017 but never posted. For anyone who doesnt believe that these BBs are full of ghosts and watchers.
NEDs may or not bring value. Its not the biggest secret in the world that is often given to friends and colleagues who may hold a string of NEDs that cumalatively is a lot of money.
Not sure what value this old man will bring
There is being impatient and just being gullible and taking it quietly
Its been, what, 3 weeks now? I only have a small £2k punt in this but Im amazed the BOD havent come out with substantial to steady the nerves and the steadily declining SP.
I think they have been given more than enough leeway
It doesnt need to be a huge RNS.
I think people are underestimating the importance of Mexico.
If Dononvan hadnt been a failure- our SP would look very very different than now.
If we arent going to start more drilling in Oz till after easter- it means a very long time gap next year without any juicy RNSs. April re-start would mean assays in the summer some time. BBG has already said phase 3 drilling assays should be back in March.
If we start Mexico in December- it means another steady stream of results for the spring season to help keep the SP buoyant.
There is going to be no more drilling till after Easter as BBG has said.
So then you have to question what the money is for? Yes they are doing a scoping study but that wont be that expensive seeing as what we already had in the bank.
Will be very dissappointing if we dont soon see a start in Mexico or some significant advance in EHs because other than that, there is no need for such funds/dilution for the next 6 months at least.
Meeting a friend of a friend tomorrow who is a mining exec from Oz, but has spent the last 6 months in CIV and Ghana for the company he works with.
The guy is a wealth of inside information apparently- so I will dig up what I can find about why we havent started the next drilling rounds for the gold and what exactly is going on in Mali. He has also been in Congo to do a lithium project so he certainly knows his stuff.
I will relay any juicy nuggets I get
GLA
Yup. When people are saying DYOR and yet they cant spot a blatant breach of disclosure rules or believe that the government of a country would just go into 'lockdown'- it makes you wonder what they consider to be 'DYOR'.
I have long learned to take that term with a huge pinch of salt
I will continue to dig out info I can find out on the ground from my contacts in Mexico and Oz.
Tomorrow meeting with my friend and his friend who is a mining exec in Perth- should be an interesting convo. In fact, it was that same guy who told me about the fall in iron prices months before it happened so he knows his stuff.
I'll share what I can
Seems there is little support for Mexico?
Id like to see a few drills there- to get the ball rolling. From what I remember- they have the drill ready and in storage?
Remember BBG has pretty much said that there wont be more drilling going in in Oz till March due to the weather, so maybe would be good time to diversify during the Mexican dry season?
We will hear something from Mexico pretty soon but dont expect drilling till after the Xmas period
Btw- it is not that hard to find local contacts- whether it is Mexico or Australia. It is nice to have a 'on the ground' perspective that isnt the company.
One of my best friends is from Perth so has a million contacts there- in fact i look forward to meet one of his friends next week who is a mining executive- i ofc will pump him for any information I can get and feedback to you here.
I am lucky that I speak Spanish and have similarly been able to make a string of contacts in Mexico including locally.
It really takes less effort than you can imagine.
My sources in Mexico tell me there could be some activity on the ground on our concessions there. I will tell you more, as and when I get more information. I have no idea what they are doing on the site but I am sure we will hear something soon. It has been almost exactly 1 year since BBG proclaimed that we were going to get our license 'any day'.
I have always maintained that Mexico is not moving due to the simple fact that we dont have enough money to 'open up a second front' (contract to BBG saying we have the funds for it) so I dont think its a coincidence that there could be some movement in it now after this £4mn placing.
I think we all need to admit to being a bit gullible too- that a AIM junior at the stage of UFO was going to manage to develop all those sites simultaneously. It is time consuming stuff and not just a matter of sending in the drill team. The data needs analysing and planning. It was a huge and unrealistic task to think UFO were capable off.
On that note- would you prefer we just shelve Mexico for the time being and concentrate on Oz?
LOL @Bishop, reported for what?
Im actually amazed by some people here- BBG says in an interview that they have seen the initial Phase 1 DSO assays and it seems it was only me who realised that it was a breach- and such information MUST be released- I email UFO Tuesday night- Thu morning there is RNS hurriedly put out.
Likewise, everyone here was drinking the Kool Aid regarding Mexico- just taking it as a matter of fact- I found it hard to believe that a country where mining is so important- will just shut down mining progress for a year- I did my research- and found it to be a wholly misrepresentation of the fact.
I think when people here say DYOR, they don't really DYOR- or else they would have been alert to this
I dont claim to be some seasoned expert investor but I can spot a red flag from a mile away.
That is all nice to say- but Why have we not got any update on the gold? Rainy season is back in 7 months. We need to race ahead.
The rainy season finished some weeks back.
No mention from Bernie today
I see us festering around this level till we get the EHs assays.
Then phase 3 mining hopefully we get started before Xmas. 2 months to get in done, and a further 2 months for the assays would be a rough timeline.
In terms of trust- you would have to be rather naive to put personal trust in some random person you have never met before. The fact I caught BBG out over the whole Mexican 'government shutdown' thing just proves he is just another human and not the God some here portray him as. I also caught him out when he let slip that he had seen the initial assays for the Han**** Phase 1, once I flagged it to the BOD that it MUST be released- hey presto it was released the very next working day.
I think a lot of people here would do better if they just viewed BBG/BOD like politicians.
I did say that people were too focused on the lithium license. Those people are now dissapointed it didnt go up by 50% or whatever.
I repeat- why havent we started on the gold again?
No mention of more drilling in the Vox interview either- unless I missed it.
Lets see what ramping BBG and the others who dont put their money where their mouths are- can do to repair this damage. Remember last year when we never believed it would go down to 0.7 after they crapped on us when we had a rally to 1.5?
Our only hope is that we have derisked sufficiently to avoid another halving