Member Info for Swanley

Cheers to that, fantastic day today, well done all you sula holders. More like this to come. Enjoy a cracking May bank holiday weekend.

Getting close to breakout and highest point since August 2015..

Christ, at this rate, there may not be a meantime. She's flying. Sula nuggets for everyone!

Ahh man, stop inflating my ego!! You're all gonna hate me if this thing goes t*ts up!! Rev, what banter have you got to pass the time till results?

RM also mentioned last week at the investor thingy that at 4g/tonne, that equated to £160/tonne which was very encouraging.

Those numbers sound very palatable!! I was looking at the results of the last drilling campaign on sanama hill last night. Good grades coming back when they hit them at around 12-16g/tonne with average/m at 4.37 g/tonne length weighted which is really good. Then the section where they believe that the other target zones are AT LEAST AS PROSPECTIVE as sanama hill due to the higher ip signature should give some stronger grades. All very exciting... Looks like there is some volume today.. Perhaps people starting to acquire some before a possible rns next week??

Which independent report is that Goheavy?

Hahahaha

Wtf happened there? Bug = but, Figs = rigs Wd = we Sigh

Pass.... RM said he wanted to prove up the whole asset by end of 2017, I reckon it will not finish until more like q1 2018, bug could be sooner with the figs staying on site.. once asset is proven up, wd should see value, of if there's an offer in the meantime, or there could be a silly spike if these results are awesome and the project is detailed...

Cone head?!?!?!?! LOL Cheers Rev! Hello Jasonunchained. Erm, firstly, I know nuffink. But all the info is there in the RNS' if you take a few hours and read back through them all as well as the corporate presentations on the Sula website. In terms of value, Mattwales has given a good view. Everyone values slightly differently and there are many unknowns so you have to make a few assumptions. I used an article on the kitco website to get a value of $34/ounce gold in ground value for Africa. Then based on 0.8m oz, 0.8mx34 then convert to £ and divide that number by today's current mcap. That resulting number gives you a multiplier to today's share price. However, that assumes: 1. No discounting - there's always some discounting depending on difficulty to mine, difficulty to separate metal from rock, distance to port etc etc. 2. No price for the existing Iron Ore asset. Previously, it was assumed to be worth 4p/share on the Iron Ore alone when Iron Ore was the lowest value of $27 or something/tonne. Now Iron Ore is higher, but if a deal is done with Shandong, we have no idea on the value. 3. There will be no further dilution to prove up the exploration target into a JORC compliant resource ready to sell or take forward for economic analysis for mining. We know from the IP survey that within the license area, there are 5 labelled target zones glowing bright pink that are likely to host gold mineralised rock and also two further zones which are unlabelled and may... be explored also. So to explore these will require further drilling and therefore money and therefore equity raising, and therefore more shares, and therefore less of a multiplier when the final asset size/value is calculated. Bit of a downer, but the flip side of that is that we should in doing so, have a significantly larger gold asset and higher company valuation. Currently we have 0.8-1.5m oz from just one target zone alone. Sula will prove up all these areas and due to the strike length across all, we could be realistically looking at 3-5m oz gold or more, which if you do the maths and make some assumptions around discounting and ignore the iron ore, then you end up somewhere around 3-5p/share.. If you're looking for feasibility/costing for a mine, I'm most definitely not your guy!

Tempted!!!

Lol Rev, they're tripping over it.. RM is using a 1kg goldstone as a paper weight!

Hello Kimura, I guess it depends on how good the results are, but agree with Rev, we should see buying in anticipation of results and then a possible spike if good.

"This innovative financing arrangement should enable Sula to drill additional metres in excess of the planned programme of 2,400m depending on the initial results of the drilling campaign." "My guess is that this additional drilling (if warranted) might be what he was referring to when he told Swanley "he hoped to have more drilling completed by [our UK] summer". He's probably got a few more weeks before the rainy season gets going in earnest" Yes that's exactly what he was referring to (he mentioned in a previous interview that they would drill into the rainy season). So the results we'll get back from the 2400m drill campaign will be in the 2 or 3 forthcoming assay results, then there may be some additional holes based on what you wrote above. You're welcome for the report, nothing to gain by keeping to myself, and we all share what we find here, as it's a good community.

I'm actually hoping that the geologists have initially targetted those very dark zones in the Eastern target and these return some very high gradings to get the WOW factor on potential across the whole asset. Time will tell and initial results could even be a blank but I'd expect them to select those best core samples for analysis or this company will die.

4g/ton average is considered high grade. I'm expecting that.

Thanks Steve, but I'm just the messenger... DYOR, etc and don't shoot me if it all turns out to be lies.

Hello Vestor13, It was the other way around on the core samples. RM said last night that there are 1-2 from Sanama Hill and 3-4 from the Eastern target. I noticed the same mistake about the rig numbering in the RNS also. But the rig definitely started on the Eastern target and then 2nd rig to Sanama hill. He said in his interview yesterday that they looked carefully at conflict of interest with EQD but they're not breaching any rules and Mike Warren is essentially just a big shareholder through Galactic. He added last night how successful Mike had been in previous drilling for other companies.

lol Royo, it was actually quite an interesting session with good presentations from other companies too. The pigs in blankets weren't bad either!