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Good enought to want to increase the rig count from 3!
"Drilling at TAM continues with three diamond drill rigs and further expansion of the TAM drilling fleet is planned (Figure 3). Cross sections through the centre of the target are provided in Figure 4.
The intersection of noteworthy porphyry stockwork mineralisation encountered in Hole 9 in the deeper portions of the drilling area contained high abundance of B-type quartz-chalcopyrite veining (Figure 5). This intense mineralisation hosted within a pre-mineral intrusive breccia host rock, suggests that a fluid-rich source intrusion may be intersected through further drilling at depth, and highlights the potential for a deeper bulk underground target that may lie beneath the current drilling area.
Further drilling is planned to test for the potential of a deep-rooted porphyry system."
If the IO price holds anywhere near the current level & NRR can ramp up production to >5mtpa then AMC is an iron ore co!
I'm not sure if Phase 1 production is limited to 1.5mtpa or if the plan is to add another 1.5-2mtpa.
Can anyone clarify? https://www.nathan-river.com/about-us
I was thinking about this too TD2.
NRR probably getting > ~$150t FOB?
Surely mining cost is <$50t.
What's the trucking cost for a 350km round trip? $25t?
Currently shipping 1.5mtpa.
Stage 2: 4mt
You could make an argument that AMC's 13.43 % of NRR is worth the current £23m MC.
What are the chances of the owners using AMC to do a Reverse Takeover?
Are RTO's allowed on the LSE?
Anyway all food for thought while waiting for something/anything to happen at KM.
Yes strip ratio is one issue but it looks like it's being addressed.
From 16 Feb, 2021 NR: Robin Young, CEO of Amur Minerals Corporation, commented:
"Ongoing work continues on the compilation of the TEO and we have further identified that underground production may be a viable and better financial option as previously defined by RPM in previous study work. "
Looks like there's a possibility of good news on a couple of fronts.
This name requires patience!
" RPM Global ("RPM") has been engaged to update the 20 March 2018 JORC resource estimates to include the 32,526.5 meters of drilling completed in 2018. "
This will be good for the mkt as it will allow investors to easily compare projects e.g. Kun Marie with Centaurus Metals' ($CTM.ax) project in Brazil. CTM has a MC of AUD235m.
Hopefully the market will get a surprise.
(Centaurus' Jaguar Project has an updated Mineral Resource Estimate for the Project in February 2021 of 58.6Mt grading 0.95% Ni for 557,800t of contained nickel.)
" You cannot be an excellent explorer, which is what Nick is, and at the same time be an excellent mine builder. Nick was great at what he did, glad the reins on in the hands of mine builders now. "
I'm glad you said that. I've just taken a position in $NPM.ax New Peak Metals on the ASX (NM chairman) which is an explorer in Argentina (amongst other places). You certainly were consistent in your views on NM.
There's certainly a lot to look forward to now for all parties and any help from BHP & Newcrest, particularly on blockcaving, is welcome.
It must be a great outcome when everbody wins!
From Macquarie Bank 18 Jan, 2021: "There have been some large rises in chrome prices in recent weeks. Spot charge ferrochrome into the Chinese market has risen from around 70 c/lb to 95 c/lb since the end of the year following Chinese government enforced closure of power inefficient ferrochrome furnace in Inner Mongolia, which accounted for 65% of Chinese production in December. "
Thank you RLB for this reply and all of your posts. They give a wonderful insight into a little corner of the commodities room.
I'm waiting on some news elsewhere to sell into and will redeploy some of that cash here.
Just 12 months at these elevated Rh prices sets up a great future for THS. Who know where the Rh price is headed.
Why are people comparing THS to non-Rh plays? Why bother?
This name looks like a perfect way to play the rising Rh price.
FY2020 - Rh -was 9.6% of production but 51% of rev. And the Rh price last FY? <$7koz.
Is there a better company to get exposure to Rh? I'm a complete novice in the Rh space but who wouldn't want to be in this playground with the Rh price rocketing?
Thanks for the great commentary from a couple of posters.
T
Hi CBS,
Yes, 2p attracted the sellers.
Went back in today at 1.75p hoping some of those who took part in the CR might be prepared to offload if there was a decent bid showing.
Looks like I've picked up a few. Thanks for the encouragement to stay calm and wait for the selling.
I'll have to find more cash and back up the truck again tomorrow!
Depends on what your mining apparently
https://en.wikipedia.org/wiki/Stripping_ratio
Hey RL, appreciate your work.
Can you try a little harder please. I'm trying to buy at 1.6p and it's not looking good ATM. Surely you can dredge up some analysis that will spook some of those who took part in the CR at 1.75p.
Who are the clowns who pushed the SP up over 2p before I've got set?
This project is a PoS, but you know, buy cheap and sell to the suckers at 1p more. Fancy anyone thinking Glencore is going to do anything other than shred shareholder value and then pick up the pieces cheaply for itself. It stands out like the proverbial.
Anyway, I'm sure you're doing your best for mankind and for that I'm grateful.
CBS,
What are the -ves here?
Low mkt cap means it must be difficult for the company to attract fund manager interest.
No clarity yet on how much free cashflow is being generated from NRR IO mine.
Is there a definitive statement anywhere from the Russian Govt. commiting to infrastructure spend?
Scoping Study showed a Ni price of $8lb is reqd. That price has only just been achieved and probably needs to be sustained or move higher for 6 months.
US Govt. sanctions limits who might be potential JV partners. I assume Japanese & Korean battery makers would be shy. What about Europeans? China and Russia can do what they like. I wonder if BHP would be interested? It's certainly the right size and type of Ni.
I'm bullish but it's always good to look for the downside risks.
I'm not prepared to chase the stock ATM having got started at 1.6p earlier in the week.
I'd appreciate your views.
Thanks,
T
WTF happened while I was asleep? (I'm in Aus.)
No one sold down to me for my second tranche! Where's all of the 1.75p stock that should have flooded the mkt?
This is a great story. The Russia jurisdictional risk discount is BS IMHO.
Danes pumping BS Peru & Philippines low grade Cu stocks on TSX with mkt caps of $50-$150m.
If AMC was listed on the ASX it would be 3-4 times the current MC.
Anyway, I will be back. You can always tell our buying. We're the ones hanging our bids out to dry pre-open! That's the way the system works for me.
ATB
T
JB - like "how long is a piece of string?"
First looked at AMUR Nov 2019. Only buying now.
That is one definition of patience.
I was waiting for the Ni price to be >$8lb.
There is no doubt the mkt - I play TSX, ASX, LSE/AIM - is applying a heavy jurisdictional discount for Russia. This is unmerited in my view.
I have owned Ni explorers BSX & CTM on the ASX and looked at NOT on the TSX and think that the £19m EV for AMC is ridiculous.
So I'm buying. :-)