Member Info for theiceberg

Andrew, the problem is we paid (from memory hope it's right) 1.2m for the current jorc tonnage...

My typing was terrible in that, sorry I was trying to cook dinner at the same time, hopefully you can make sense of it! :)

It's really hard to value it, there was an interesting graph that I saw a few months ago 're valuation. I wish i could remember it. It contained the sale price per of of copper and another for good on a scatter...price in y and time on x. They then drew comparisons with Jorc\PFS\BFS size of deposit ....but the range they up with so high as to be useless...
Obviously it's done, but it requires more data and access than we have. Takeovers for gold have gone from $2-5 per oz in the ground all the way to $100 or more. I like the example of northparkes personally as it's local, obviously it's in production which makes a bit difference etc but at least it's close...

I didn't start anything. I didn't bring up porvenir, I didnt , as I think you accept, say 0-2% in any report I've written for porvenir.
I have no interest in arguing with anybody here, as I hope everybody is free to post lots of good interesting information, swap ideas, learn, discuss, debate etc.
I hope that if things are misunderstood we can sort them out. Geologists are like economists ask 10 of them and you get 10 different responses. It's what makes finding and understand porphyry s so difficult, as you rightly say garwin is a master but even he says he's learning constantly and every one is different.

Cheers

Andrew, I completely agree with news that you can't make any tonnage estimate and I was careful not to, it's impossible without widths and more drilling.
It was just an attempt to put a finger in the air estimate of the mcap increase based on a single drill at .5 to .6 eq
If you were to do a tonnage estimate and make assumptions then I agree it would be too low, but I really didn't want to donthat. You have to have some kind of idea, otherwise you don't know if the sp is under or over valued. for example if the sp rises to 30p based on just the assays of the first drill at that eq then I would probably say it's over valued and sell.
Hope that helps :)

News, I am not sure what your problem with me is, I've written half a dozen posts, all positive about xtr and none of them critical about you, despite your constant jabs.
Here's the report into porvenir I wrote. Can you point out to me the 2% I mentioned?
http://icebergshares.blogspot.com/2020/10/solgolds-porvenir-solg.html?m=1
It looks like I said 1-1.5x alpala

I've not given any tonnage for xtr or any calculation on any more here.

News, calm down, I didn't say that you said it was bigger, just that they were very different. You made it very clear it wasn't you in your post, so it didn't occur to me that you or Anybody else would think other wise.
But if you or Anybody puts something up which I know something about I'll post on it.
All knowledge is good and I hope we all contribute. I think Andy follows me ,(he use to).
We know porvenir extends to a depth and width of over 1000m each. Almost certainly more.
The crux report imo, is way off with the valuation as you say it's still very very early.

Cheers

News. I've written extensively on Porvenir, it's a complicated beast and very very different to bushranger. One of my pieces on porvenir was passed around internally by the geologists out there and posted up by the now CFO who liked it. Porvenir is many times bigger than bushranger...that's not to say that bushranger is bad, it's like comparing a Ferrari road car with a Ferrari F1 car. Both good in their own ways. I am very bullish on the drill here and am currently putting together a small article, hopefully for the weekend.

There was zero chance of the drill campaign being done on the original budget. Cornish is a disgusting nomad imo, but he is predictable.with 200m volume in the last two days you can bet that much of the placing has been forward sold. It will touch 4.5-4.7 but if your buying in for next week's geo report, the assays and follow up drilling to confirm width and diameter, the sp falling to 4.5 for a few hours is pretty irrelavent. It then has days and weeks to recover and zoom off into double figures at a sensible rate without lots of over hang and without the market being worried about funding.rate
Looking at the folks plugging it on here and Twitter on Tuesday particularly, this was being pre worked then...which is good.

Good placing, good price and glad it's done now. From a very new investor this was very likely to happen and it prevented me from buying a few more. My fear was that it could have been below 4p.
Well done.

My conservative estimate for a 1000m .5-.6 cu eq would be around 90m mcap given the location, obviously once assays are in...obviously other drills true widths at depth would expand upon this. This also doesn't inc any of there other projects (I've invested for the porphyry) or any potential monetizing. I wish they could say what the core sample looked like near the bottom, as that would be informative, but I appreciate these are small simple rns s that will be expanded upon next week etc.
Just my opinion and no more relevant than anybody elses.
I tend to invest for awhile in shares and although I don't have much in here I will certainty see how this current drill campaign goes before making any decisions to sell.

I appreciate that, believe me i do a lot of research....It looks most similar to the north park fingers to me.
Todays hole depth, is perfectly fine and expected. Its the geology that will do the talking now, and hopefully a replaced second drill to test the width further down hole.

news, arguing whether its lying on its back or a finger, is like arguing whether its 6 or 9, depending on which way up you want it to be! :)

I brought a few on friday, early Monday and more recently today, the drill has got to the depth where now the geo is just as important as adding more depth. Normally with the finger type porphyry I would like a bit more info from the visuals. Unfortunately I am not sure they know what they have. I've emailed asking them to give out a bit more info around stockwork, est chalcopyrite %, vein %, pyrite content. Alteration/ intrusion info. I don't think they were geared up to give it and are still amazed that mineralization has continued this far. Along with assays, this kind of info will add greatly to the markets understanding and valueing...my belief is that the finger will widen significantly as you to down to the source intrusion. Roll on the geologist being able to give his details.

I've sold 90% of my holding. I brought in 14-15 months ago and have made a 75% profit and am happy with that. But I've always been open about my risk profile here..at this price with the current risk reward and uncertainty about who's in charge now, what strategy the new CEO will take etc the split isn't what I want. I am fully open to a new CEO but wanted it to be gradual and planned which this isnt.
When the waters cleared I might come back.
Good luck to everyone, the assets are first class and I fully understand expect porvenir to be first class.

The guy who brought in at 10.35 today has held longer than you have!

Punter, maybe, it's just a feeling I have, no evidence at all!

It probably won't be anybody 4% or above..even 1% (20m) is many days worth of volume atm. By private I mean smaller scale investors not your HNW folks. Even a hand full of big investors taking 1-2% each will be enough to take out vast shoals of smaller retail fish, leaving them over fished and endangered.

I've been wondering recently how many PI s there are still.. This is just my opinion no facts to back it up. But certainly less than a year ago...probably less than in any period in solgs history. Imo it's one of the reasons why volume has dropped off. We don't even have traders anymore.
When PI s sell I have visions of the shares just going into the hands of bigger investors.

1000m of Porphry drill with Chalcopyrite etc and pyrite intrusion. In aus and a 30-40m map company? I took a 3.8p position on Friday and will keep for a whi le, but this is solg so won't say anymore .