Member Info for tqhussain

A bit out of the blue update but a nice one.

Https://miningzimbabwe.com/contango-moves-muchesu-coal-project-forward-as-pgi-takes-operating-role/

BillB, not sure 250 p/m is minimum.

Happy to be proven wrong.

Blue- Using the numbers from the RNS.

'Targeting 5–25 g/t Au zones initially

50–90t/month to start, then scaling to 150–300t/month after ~3 months'

5gt grades and processing 50t per month, these are the very minimum numbers for the initial production.

At the minimum, 5gt and 50t processing is ~10 ounces a month.

The upper numbers are mouth watering!

Tiny MC and soon to be producing gold. With decent grades the profit margin should be good.

Https://goldmidi.com/community/threads/matabeleland-north-nails-45-nds1-projects.68007/#post-82451

There are/was some improvement being made to the roads in the area.

Not much going on at the mine during the festive period. Most of the workers have gone home (China) but also there are some issues with paperwork for some employees to work in Zim.

Https://www.heraldonline.co.zw/min-ncube-unveils-ambitious-nds2-mining-agenda/

I hope CHP cash out and realise good value here. The money will really help their cause with AlbaCo.

Conversions are at 20% premium, nice!

I hear coke sales have started.

Tesoro is located in the prolific Nazca-Ocona gold corridor, south of Lima in Arequipa, and is characterised by quartz-gold veins hosted in intrusive rocks with grades of 5-15 g/t Au with bonanza zones of >30 g/t Au, and lengths >1km, depths between 0.6 - 1km, and widths between 10-80 cm.

Highlights:

Formalised artisanal and small mining operations

Initial vein material recovered from the Bonanza shaft has an average grade of between 6 g/t and 12 g/t Au and maximum results returning over 27g/t

Internal estimates suggest approximately 150,000 t with an average grade of 15 g/t Au for 73,000 oz Au at Tesoro

There is so much value at current gold prices and with high grades the margins should be very good.

Financial position

Cash at 30 June 2025 was $20.1 million ($15.1 million at 30 June 2024). The Group continuously monitors its exposure to currency risk. It maintains a portfolio of cash mainly in US Dollars ("USD"), EURO and Sterling ("GBP") held primarily in the UK.

Https://m.youtube.com/watch?v=xlWZdRe_arQ

Chinese workers are away on holiday so, not much activity on the ground.

Coke ovens have been built.

Locals not being treated that well as promised (i.e. relocation houses, employment)

Potentially $340k ( $28k to EME) revenue a day.

Https://sisinspections.com/blog/coal-is-on-the-comeback-trail-in-zimbabwe-in-2025?hs_amp=true

And he's gone!

As far as I can see the placing shares are already trading in the market. We have a total of 2,594,894,153 shares in issue!