Member Info for TigerByTheTail

All the time on this board I feel like I have to apologise for actually knowing something about mining.
The Marange diamonds (alluvials) certainly don't go down to a depth of 25m deep as well, for instance. And the value of the low-grade Marange diamonds is nowhere near as high as $100 in the current market. Etcetera, etcetera.
It's all just the usual pre-placement horseshit from AP. But it's seemingly enough to fool many.

Hi Castaway!
You do realise those copper and gold grades are not commercially viable, don't you?
Maybe there is an area inside Zagra that is higher grade and that makes sense to mine. But those overall grades are not interesting. It's just a lot of dirt that won't pay the costs of digging it up.

Just dropping in, out of curiosity.
FWIW, I did decide this stock was unlikely to recover and sold at 0.17p a few weeks' back. I put all the money in Bacanora (BCN), then at 13p, today at 26p (I sold half yesterday at 28p). Not quite recovered my Vast losses yet, but well on the way. Obviously, I'm happy I did that.
IMO, there are lots of stocks out there that are better to own than Vast as it is now. I see only endless dilution and delay followed by broken promises here. But each to their own and good luck to everybody whatever they decide to do.

I agree that Tjate is a legacy asset - a hugely valuable one, in the long term, but no longer core to the business.
It would be great if Jubilee could sell it for its book value. Think how much return we could earn by reinvesting that capital into the current metals recovery business!
Still, I don't think it will happen.
But, yes, it does look like something is up behind the scenes. I guess we'll find out next week!

Hi Sumoskier!
You know, the one "surprise" deal I wouldn't expect is one on Tjate.
A copper / cobalt tailings deal with a miner in Zambia - yes, maybe. A fine chrome deal - yes, maybe. A waste management contract with a mining major, or even a full takeover bid from them - yes, certainly, in the long run.
But a deal on Tjate. no, not with platinum at $900 per ounce.

RNS out - Peel Hunt reducing from 15.5% to 14%. Presumably, this is what caused the recent SP weakness.
If Peel Hunt decide to reduce further, this could get ugly.
However, I do have an idea. GLR have an AIM listing, valuable assets, and substantial mining knowledge, but no cash and no good way to raise any (short of selling Glenover (IMO, unlikely). In contrast, BMR have some cash (from selling their JLP shares) and no stock market listing. A merger, anybody? After all, Colin Bird is already a director of both companies?

Well, I'm certainly not going away just when we're getting the most interesting part of the story! Sometime in the next few weeks we should find out what the kimberlite dykes at Thorny River really contain. Let's hope they are even half as lucrative as the old Meersfontein mine (2km away) was.
I'm also hoping for legal developments re: Maibwe over the next few weeks.
As for Vast and the Marange diamond fields, well, who really knows the truth of all that. Only one thing is for sure, and that is that for BOD it is a "nothing to lose and everything to win" free play.

Hi TopSharePicks!
IMO, you're looking in the wrong place with Tesla. For two reasons, basically:
1) Because Bacanora already have a 100% offtake agreement in place for Sonora with leading Japanese metals trader Hanwa (who also own 10% of Bacanora (bought at 87p!) and have a seat on BCN's board);
2) Although electric vehicles ARE the future, that does not mean that Tesla will survive to benefit. Tesla's current capital raise is a bail-out placing for a company that burns cash and has terrible regulatory / accounting issues. It's not for investment in lithium miners! Elon Musk's story will one day make a great Hollywood bio-pic, but I wouldn't touch Tesla stock or bonds with a bargepole.

Judging by the share price action yesterday and today, I can't help but think that the good ship Bacanora has sprung a leak.
I agree that this is definitely not the moment to be selling!

Thanks for the reply to my question. I think I must have missed at least one RNS.
Rainbow don't have a legal requirement to issue quarterlies, but it would look really bad if they stop doing it at the moment.
Let's hope things are looking up at the mine, and perhaps that somebody with deep pockets is thinking about buying it up as an excellent exploration and development prospect (which it is, even if RBW's current mining operations are losing money!)

I'm rather expecting official news about Zinnwald today / tomorrow, given the German press campaign of the last month and the two company presentations in Germany and UK today. (re: the feasibilty study, the IPO, etc.)
I agree that we shouldn't forget about Southern Copper's publicly expressed (via Reuters) interest in buying out Sonora. It's gone quiet since the article was published, which may mean that negotiations are in progress. Southern Copper certainly have the financial means and the local contacts to make such a deal work!

Hi Bingo!
There will be simultaneous company presentations in Germany and UK tomorrow. I don't know if there has been a leak or not, but it's reasonable to expect news tomorrow, presumably about Zinnwald (the feasibility study, and possibly about spinning it off and financing it).
IMO, the share price here is still basically crazy, given that Zinnwald isn't even Bacanora's most valuable asset, so there could be a long way to go yet.

What I'd (also) like to know is have they used the Lind convertible loan facility or not?
We've had no RNSs stating that they have issued any new shares. Maybe they're holding back from actually using it?

Hi Frank!
Ramp away, but you're wrong.
Dugbe is basically worthless in the current market, and not "sought after" at all.
Nobody will want to put money into this very high cost and very difficult project when there are much better / easier gold projects in West Africa to buy/JV out there.

Hi Sands!
Why don't you put forward some coherent arguments as to why Dugbe will ever get built!
You know as well as I do that it is a useless white elephant.

Frank, really, it's not good news at all.
It's just more money flushed down the pan on a project that will never happen. Dugbe is not economically viable - it's as simple as that. Hummingbird have already wasted $60m chasing this dream of Liberian gold, and now they will waste a few million more on it.
There will be no JV, because who would invest in this project when there are plenty of lower cost projects around in better West African jurisdictions? Dugbe's problems include: low grade deposit, very hard rock to grind up, no local power source, hilly jungle, remote location, no trained workforce, Ebola, total government corruption, etc.
(Unless the gold price really does go up to $2,000 per ounce and stay there, that is).
All that Hummingbird should be thinking about is operating Yanfolila successfully and generating some free cash flow from it - something that so far that have hopelessly failed at.

GLR have issued a rather rampy RNS this morning, announcing the commencement of negotiations with Jubilee for an offtake agreement concerning adding their Star Zinc ore to the Kabwe tailings material.
Not too much new in it, but in the final analysis, such a deal would result in extra income and/or a longer "mine life" for Kabwe / Sable. So all good, as far as it goes.

I don't see this as good news for Hummingbird - more as a dangerous and potentially expensive distraction for a company mired in production difficulties and debt.
Yes, Dugbe contains a lot of gold - 4.2m ounces. But it is a low grade hard rock deposit in the middle of the jungle and in one of the most corrupt countries in the world. The gold will be very expensive to extract, and Hummingbird certainly don't have the money to build the mine themselves.
It's a buyer's market for gold companies looking for projects to develop in West Africa. There are plenty of good projects up for sale in Ghana or Cote d'Ivoire, or even Mali and Burkino Faso. Who would choose to invest in a very high cost mine in Liberia instead?
If gold soared to, say, $1,800 per ounce and stayed there for a couple of years, then that would change this basic analysis. But, unless it does, Dugbe is simply a bit of white elephant. All that has really happened today, is that Hummingbird has spent a bit more money it really doesn't have to waste until it sorts out its production problems in Mali. I still expect an equity raise in the next few months for emergency working capital.

Hi Wolfi!
Thanks (again) for sharing your research.I agree - it looks to me like some kind of pre-announcement of a forthcoming IPO for Deutsche Lithium (i.e. Zinnwald) in Germany. Would you agree?
One interesting question is how much Deutsche Lithium will be able to raise via the IPO - just enough money to buy the other 50% of Zinnwald from Solar and to continue development? Or a much bigger sum, sufficient to advance the project towards production when combined with debt funding?
I can't help thinking we will find out more on May 2nd (the date of the joint UK and German presentations). That's only the day after tomorrow now!
Any road, Bacanora's SP is way too cheap for its assets!

It looks to me (underneath the "Swiss Bank" bullshit) that Vast are attempting to raise a very large convertible loan.
I don't know how many billions of warrants they will shortly request the authority to issue, but it will be a lot (just compare the expected sum of the loan and Vast's current mcap).
This is actually rather bad news for Vast's current shareholders, as these warrants will be converted into billions of new shares in due course.
Remember how they called Bergen an "institutional investor" - it's that trick again.