Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Lots of questions! Will try my best to answer.....
What's the plan? There's definitely a renewed focus on 1) Ghana 2) Chad and 3) Ivory Coast. Forget everything else. Although I expect we will see various updates, none of the other assets are important in our future and none are required to achieve the mcap that we aspire to. Remember that we currently have 40 licences and have previously relinquished a similar number. IronRidge are now concentrating on just a handful - imo this shows the calibre of current licences.
VM has stated several times that what we have gives us options. We could sell, JV, farm-in or go into production. And where will the money come from? Where has ALL of the money come from so far?
I also don't know much about Wres so I'll answer a question with some questions (sorry)....
>Did the Wres CEO have about £4m invested?
>Did Wres have 3 Cornerstone investors?
>Did Wres never offer a placing to retail clients?
>Where were they operating?
>Did they have a hot commodity with the World's second best intersections and closer to port than any other resource in that continent (same commodity)?
>Did Wres find a high grade resource at surface with an area equalling some of the biggest open pit mines in the world?
>Did Wres do due diligence (at surface) including tens of thousands of samples (soils, trenching, pits, channel) plus aerial radiometrics before even drilling a single hole?
Hi Bonker. Welcome back. Ghana is looking good. Grades are between average and good. Intersections however are a game changer. Second only to AVZ's Manono. Recent pegmatite extensions are exciting. I'm actually thinking that Ewoyaa and Abunko will eventually join together. It's a decent area. Most significantly, the Ghana and IC lithium resources are closer to port than any other lithium resource in Africa (and likely in the World's top 5). Will make both very low cost.
Funny how a few positive statements from VM have been turned into a signed in blood guarantee of £1 by Christmas! Literally pmsl. Suggest people re-watch all of the interviews to recalibrate.
Also hilarious how anyone thinks that any company management have any control over the markets or market sentiment. If they did, why aren't all CEOs multi-billionaires? And why would a CEO with over £3m invested purposefully erode that value away? And then to put in another million only to let the price slip below the raise price. How utterly negligent! Again pmsl that some people would believe that this was the case!
I've also met VM and LK a couple of times now. I watched LK's last presentation at Mines and Money. Both very hard working, knowledgeable, driven, motivated and very well incentivised. I can't think of a better management team on AIM. Bar from a few delays getting assays this year, these guys haven't put a foot wrong.
Also can't believe that anyone would buy a share where they wanted the management out. I mean, what were you thinking ATG? There are hundreds of companies on AIM, surely you can find one where you're happy with everything? Or is that impossible?
I don't come on this board to argue. I've used this board to share research and to discuss with like minded people. Until it returns to a place where I can contribute (and not have to act like a little b*tch) I will limit my posts. This is not my style.
I keep holding and will keep buying where I can. I still genuinely believe in my targets and that they are achievable, in time. The current sp is very frustrating but there is much upside that the market has not recognised imo.
Best of luck to all genuine holders.
Tough day! Never thought we would see these numbers again!!
There are many 'end game' possibilities as far as I can see. The most obvious is that the lithium is sold off / farmed-out (maybe Assore will take it?) followed by a similar scenario with the Chad gold. I don't see it being a single event, more likely that we split the assets as and when value can be defined.
If sp hits £2, VM will earn nearly £10m in performance rights
I don't think anyone can doubt VM's motivation to get us there. The assets are certainly in place, now the deals need to be done.
Obviously, that number increases as the next target is hit and so on
Actually, looks like £135k for every 10p that the share price moves up (and stays there for 30 days). That's some incentive!
One for AGM and one for options and performance rights
https://twitter.com/Toro_AIM/status/1067899748055752709?s=19
Yes, I'm very interested in the Cote D'Ivoire licences, some real potential. Would be great to get an update soon. I'm especially looking forward to Kineta gold and our lithium.
The current Ghana lithium drill is also very interesting. We have absolutely no idea how big the Abonku pegmatite is - the outcroppings are small or concealed and the radiometrics can't see that far below surface. Could be a nice little addition to the Ewoyaa resource. Or it could be a nice big addition to the Ewoyaa resource!
Also a 'Thread View' button, top right above the chat
I bet the MMs tried their hardest though lol
It's all guesswork Mike and I agree it's very strange. Nobody really knows what's going on in the background. Markets are slow so even more open to manipulation and the MMs allow this by hiding the real status of trades.
Lots of updates due this year so hopefully will create more interest and more liquidity, especially as we learn more about extensions to Ewoyaa and the current Abonku drill.
I'm very happy with the direction and now we have a clear focus on our two 'company maker' projects. It will be interesting to watch these progress over the next few months.
I wonder if VW know that there's a supply of lithium in country? Wouldn't surprise me to see a battery megafactory springing up somewhere in Africa in the next 12 months - they are going up everywhere!
Very interesting stuff happening in Ghana around the automotive sector!
From LK tweet yesterday, 3000m RC and 1000m DD planned - note that the DD (Diamond Drilling) is for the JORC compliance. JORC code states that a certain percentage of RC holes must be correlated with DD holes to pass JORC.
Also, DD holes can go deeper than RC so opportunity to explore below the known resource at Ewoyaa.
Yes, any board dealings need to be RNS'd. Also, anyone 'inside' cannot buy or sell unless in a closed period
I think that's just Vince being cautious Mike. He's taken a lot of flack for not delivering on promises he didn't make so probably wary about any timescales mentioned.
There's obviously going to be more surface work at Kalaka and Guerere but it's not clear how long that will take. He did say that previous Kalaka trenching results should be ready this year.
Also mentioned that the main vein at Dorothe was a very good project on its own but that we had 5 or 6 zones of mineralisation close to the main vein. Just at Dorothe. If that gets repeated at Kalaka and Guerere, who knows....