RE: Is Harry or RAB PAYING RAMPERS?04 Jun 2020 13:17
Reality is RAB and Harry have got to get hundreds of million shares into new hands before this does anything.
Soo as his done that he can pay his mortgage off and RAB will bank their gain and be gone
UNTIL we see any REAL development this is all a pipe dream. HAS anyone actually been to Ethiopia to see what the Government have done OR actually seen anything verifiable that attributes any true value here?
NOPE its way the real money doesn't bother GEE even ANS a Ethiopean consortium haven't bothered.
Its like when you drive by those craggy shops on a run down high street and ask yourself WHO would ever want to start a business there?
It pains me to say it as im a stuck small investor resigned to was this periodically.
But every time I read a new RNS its always a let down.
Potential Strategic Partner As announced on 11 December 2019 and in the update provided on 27 February 2020, the Company remains in discussions with a potential strategic partner for the Project. The scope of these discussions still includes a potential asset-level loan, a potential coal mining agreement and a potential coal marketing agreement. These discussions are progressing, with a number of key commercial terms now agreed in principle. Whilst the pace has been slower than originally envisaged given the effects of the Pandemic and the subsequent restrictions it has imposed on travel, Edenville's Directors remain optimistic that a deal can be concluded in Q2 2020.
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"It is not the first time Minister Baylan has been asked a question in the Swedish Parliament about Kallak, and no doubt his response, this Wednesday, is again eagerly awaited by Beowulf's Swedish and non-Swedish shareholders, the Company and the Swedish mining sector.
"Often overlooked when permitting is debated, is an acknowledgement of the risk capital needed, the timeline for investment, and the 'big picture' economic impact that a large-scale mining project, such as Kallak, can create.
Copper-zinc-gold-silver sulphide mineralisation has been intercepted in drilling consistently over more than 4km of strike length, with intercepts within the supergene zone of up to 4.4% Copper over a 6m true width interval, including 5.8% Copper over a 3m true width. The results re-affirm the large-scale Volcanic Massive Sulphide ("VMS") style of mineralisation that underlies the +4km long surface gossanous ridgeline. Assays have been received for 59 of the 69 drill holes and confirm the positive progress towards delineating an initial Mineral Resource in accordance with the JORC Code in mid-2020.
Sufficient drilling has now been completed to identify three zones with the following preliminary parameters for potentially mineable massive sulphide lodes, with all zones remaining open at depth:
· The 'Camp Lode': 1.2km long, with an average width of 7.5m with the widest intersection of 20m found at a depth of 90m. The lode has been drilled to a depth of 300m where 9m true width of massive sulphide was intersected;
· The 'Crossroads Lodes': 800m long, with an average width of 5m with the widest intersection being 8m true width. This lode has been explored to a maximum vertical depth of 350m where 7m of massive sulphide was intersected; and
· The 'Crossroads Extension Lode': 1,000m long, with an average width of 5m with the widest intersection being 12m true width. This lode has been explored to a maximum vertical depth of 270m where 9m of massive sulphide was intersected.
Drilling spans over 4.4km of strike length of the prospect with a current drill spacing on the Camp and Crossroads Lodes of approximately 150 x 150m, with only few short scout holes drilled into the Central Area
Assay results, which were held up until recently due to a COVID-19 induced temporary suspension of operations at the assay laboratory, to date indicate the following approximate average grades within these lodes:
· Camp Lode: Copper 1.2%; Zinc 0.9%; Gold 0.5g/t and Silver 9.7g/t over an average true width of 7.5m, approximately 2.2% copper-equivalent at current spot prices;
· Crossroads Lode: Copper 1.0%; Zinc 0.8%; Gold 0.8g/t and Silver 12.0g/t over an average true width of 5m, approximately 2.2% copper-equivalent at current spot prices; and