Member Info for theiceberg

I was hoping to get the XRF from drill 2, which would have been done by now, but I am equally happy with them not being released.
I am equally not fused about 3 or 4 RNS's for every hole. A simple Hole 3 has been drilled to xxxm, which was 100m beyond expected hole depth. We observed xxxm of mineralisation and hit the core at xxxm. The drill will move to Hole 4, which is hoping to extend the Northern range of the mineralisation.
Then in 2-3 weeks time, the same again for hole 4.

I agree it's giving the share price the room to stabilise at 5.5 to 6p, then we can move up on news, or even gradually rise from here.

Assays should be 20th-28th Feb for hole 1. Happy if it's before, there is a chance!

I agree, that's the problem with Mr Birds history. I wish they would also change their broker as the broker doesn't have a fantastic tract record...but it's done and we have a very tasty asset in bushranger so a very bright future.

We havent had a single lab assay yet, so nobody in the world could answer that IMO.
I do think its fair to say, that we are finding lots of new mineralisation, so its difficult to see that the JORC won't increase by quite a bit.

I do wish that sometimes Mr Bird wouldn't say as much.
We don't know this is BODA like in grades...yet.
Its certaintly nothing like solg
Its not the case, that if one finger is good they are all good. In northparkes, every finger is different. I would expect nothing less here. Some gold heavy, some copper heavy. Even in Cadia, some intrusions are better than others.

That aside, hopefully we get the initial XRF today or tomorrow. Drill 3 should be hitting mineralisation, although we haven't had it confirmed yet, exactly where it has been located.
We are looking for an average of .4 with copper and gold combined. Even .3 eq would be good enough, as AA's 450Mt was calculated using the prices we have a back then and it used the AUS/USD that we had back then which has changed by 20%.

We can dream that we have better, BODA gold grades etc, but we don't need it even to sustain a price of 9-10p.

This is a gram
m.youtube.com/watch?v=i4OCvBOOse8..

It's worth hearing in mind that .25g\t of gold would be considered excellent. A gram of gold is the size of a small pea. A tonne approximately the size of a heaped wheelbarrow.
Not only are we looking for small grains, which combined are the size of quarter of a pea, in a wheelbarrow, but we are pushing a drain pipe into it and hoping to find the equivalent of a couple of grains of sand in the sample we have.
If my some miracle they see one of these grains when they split a core, fantastic, but it's probably unlikely.
It does look very similar to the chalcopyrite , so they might need to look at the grains under a mircoscope.

The interview is.up now.

It's just a way of showing higher value mineralisation.
If you got a 200m section with 100m at 0.7 and 100m at 0.2 you could claim to have 200m @.45 using a .2 cut off. And also inc in that a section, 100m at 0.7 using a .3 cut off.

Cut off can be anything, Rio tinto at Winu often use a .15 cut off as they think that's commercial for them.
The other point to consider is that cut off for a multi metal mine is expressed as an equivalent, so .1 copper might be ok if the gold is high enough.
So to answer your question about a .1 spread, we won't know until we get the full assays.

Folks, can go back through my posts, nothing has changed.
I the mineralisation continued to 700m and the drill stopped at 750m. I would have been very happy indeed.
That the drill continued to 900m is beyond good.
We won't know how good until we get the results, but the outer alteration layer just doesn't normally go this far out. The stockwork is intriguing.
Only about 20% of Lachlan belt, actually has any copper at all. This looks, from the grades so far to be on the top 5 copper prospects in the Belt. The gold is stilll a mystery (for about 2-3 weeks long).

Personally i can't wait for the XRF results around Tuesday hopefully. If we can get any good intercept from beyond 550m it will be like winning the lottery, a possible indication of a second system.

The biggest booked buy since 6.20 but price has been under £3k. Get the book has moved 5% since then. Perfect example of wanting to freeze the traders out at this level. MAybe they can buy at 6.6 or 6.7p

It's not quite a classic share, tighter and tighter, let the traders sell, then take it up, then repeat, but eNd time fewer traders more long term holders...then maybe Monday Tuesday next week a bit rise to try and more lquidity, then a sell off, but only to 50% of the big rise....repeat the step by step for a few days.
All the while the drill turns, onto drill 3, which imo is more exciting than drill 2 and a lead up to the assays.

Watch out for the slightly bitter placing sellers who sold at 4.5-5p (around 30m shares). They might come on complaining.
The traders who will post 10 times in a hour, then you won't hear from them for a few days (maybe the odd dressed up negative post), until they buy in again and it 10x an hr again.
The placees , the positive people who vanish when the placing has gone.

All the while the longer term holders are comfortably watching, in profit, ignoring it all :)

To be more negative than the RNS, so I'll post quickly.
Bhp wants a delay, BHP gets a delay....things like dedicated hydro are purely there to meet bhps climate targets. Despite owning 0% of the project and only 13% of the company they are wielding much power. I am not sure what people expected if Nick went.
're porvenir, there was little doubt that drill 4 was very dosapppinting, the big porphyry just isn't where everyone thought it was.
The really good news though was how perfect and compact any potential open pit could be...not huge, but a nice tier 2. With very very little capex and mine design, high irr and mineralization pretty much from breaking ground down. A 750mx750mx500m box of copper and gold...perfect for solg to cut there teeth on it they ever get out of the trip of bhp.

Sneaky releasing it 10 mins before the 13.50 auction start... Which is busy the 6p region.
It's good to get the traders out.

Sorry should be 500m but my spellchecker changed it.

Remember as nice as a second porphyry finger will be (there is no way of knowing yet). All we need is say .3 copper avg and .15 or so gold avg over the 500m of the mineralization that's been hit so far.
The 500k of mineralization is quite stagger ing.

Hi pedro, I sold at 34.7? Ish as I said in the forum atm, it was simply risk reward. I was 70-80% up after a year or so and I thought the company would flounder with Nick's strong leadership, you've now got the bod, bhp, newcrest and Nick's (15-20%) all pulling in different directions and the only way of raising money being an OO or rights issue. I know some wanted to Nick to go, inc Warren and cgp, but it's akin to cutting your arm off because you don't like the look of it.

For xtr, again it's risk reward...I don't like losing money, with the various projects xtr has, if your happy to hold for 6 months, then there is very little chance of losing money at this level, even if the drill didn't work...I don't think there is much chance of this.
The reward would be a minimal 90m mcap imo but maybe much more.much
bushranger really is a good viable commercial operation imo.

Good news that they are still dril!ing, the outer alteration zone has extended as well as anybody could hope.
I've just listened to the new interview. My only gripe is that he should have a slightly better understanding of porphyries.
There was never likely to be just a single intrusion here, at the least it was going to contain different porphyry intrusions over a 40m year period.
It was also quite likely that further fingers would be found further down. "The final possibility, at least that I will discuss here, is that - similar to Ridgeway, there is a deeper mineralised system underneath the average mineralisation we’ve seen to date. Many of the reasons for this, are the same as Scenario 3 and I will not repeat them here. It will be interesting to see how much the stockwork increases at depth, whether there is a suitable change in mineralisation. My expectation, is that this would dip at a similar angle to the already known porphyry mineralisation."
The course news of The copper is good as it indicates a copper rich intrusion that hasn't been reworked.(which would make sense as the later intrusions tend to be copper centric.)
If this has indeed found a second finger porphyry, then this drill could stay in the mineralization for another 500m or even more....even if it stops tomorrow it will still have done enough to approach the aa jorc needed,with good drill 3 results.
All excellent

Yes ur right one of the problems of typing it up quickly in my phone.
So .25% copper and .26gt gold
Or any combination.

Equivalence is a tricky thing.
Some math
All USD
Copper at 7800\tn. In a drill copper is expressed as a % so 1% = 1% of each tonne is copper so 1% is valued at $78.
Gold at 1850ish is roughly 60\g so in a drill 1g\tn is valued at $60.
So 1.3g\t is the same as 1% copper or .13g\t = .1% copper.

Example then, a drill with 0.4% copper and 0.26g/tn gold over 200m could be expressed as having 0.6 %cueq or .78g/tn aueq

For AA the JORC needs to be 450mt @ .45cueq

So this could be .2 copper and 0.2gt gold.

Imo this is really important when we way up the drills...if our 1000m length has a big chunk at this....we have a massive tick.
If our drill 2 has a dimension of 400m+ at this, massive tick...we know the other dimension is around 400-500m.
Drill 3, we hope , will increase cueq\aueq and increase in the 400m+ of drill 2.
If copper and gold are both high then all the better.

Hope this makes sense and isn't too basic.

It might sound odd but its the lowest volume since the below 2p days, which is a good thing.
The SP, has stayed above the placing price and consolidated.
The churning of shares you get after a sharp rise has abated.
We are starting to get back in position where, if you want a sizable slice, you need to pay up.
When volume does increase now, it shouldn't lead to a wave of sells, killing it off.
Good day! IMO