Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
looking at solgold. And with current copper prices coming off due to macro tensions. Solgold went from 2p to 20p in Jan-Oct 2016 period thanks to great drilling results and majors newcrest and bhp putting in offers. Copper prices during that period were stuck in a range of $4500 to $5000 a tonne. And that's coming off from 6,500 dollars a tonne in 2015. Which is exactly why I love the fact that we are targeting tier 1 copper deposits.
No matter the short term price moves, all the majors are desperate for new large copper deposits. And will pull the trigger even in a **** year. The great difference between now and 2016 is that the majors have more free cash than they ever had ever! And 2016 was probably the worst year in terms of majors balance sheet of the past decade.
No one is walking a price down for others. Makes no sense and is just plain wrong. If you really believe that, you need to educate yourself.
Markets are hard all over, another copper play is placing w optiva so ppl chasing deals and some might take profits and have some cash for later. Or add to their losing positions. End of story.
Kalumbila Minerals business relating to unpaid tax on imported mining equipment.
The two cases highlight to us that the Zambia is a good jurisdiction to work in and that the rule of law is respected and adhered to in Zambia by the government.
Drill results so far:
CHDDE001:
3.94m, 0.72% copper from 35.8m down hole
CHDDE002:
25m of 1.05% copper mineralisation from just 2m depth including:
1.7% copper over 9.3m from 18.5m depth and
13.34% copper over a short 0.56m intersection from 27m depth.
CHDDE003: hole lost due to problem in drilling.
CHDDE004:
18.00m at 2.35% Copper from 30.60m down hole including:
7.60m at 4.15% Copper from 39.00m
26.4m at 0.32% copper from 53.6m
CHDDE005: ~200m from hole 4:
28.5m @ 1.32% copper inc.
13m @ 2.31% copper from 26.2m down the hole.
7.5m @ 0.3% from 59.6m
Conclusion: The discussion on mineralogy suggests a zone of high-grade Terre Noir material may exist in the Cheyeza East prospect. We look forward to further drill results in the next ten days. We maintain our STRONG BUY recommendation as we view the shares as having significant upside on further discovery potential.
Arc Minerals* (ARCM LN) 4.3p, Mkt Cap £31m – Mineralogy at Cheyeza East indicated high-grade weathered copper zone
(The Cheyeza project is 66% owned by Arc Minerals through its holding in Zamsort)
STRONG BUY - CLICK FOR PDF
Arc Minerals held a conference call for investors and analysts yesterday to discuss progress in drilling on its new and existing projects and mine in Zambia.
The company continues to drill the Cheyeza East project and is also moving a third rig on to the Lumbeta project nearby.
Further drill results are expected within the next 10 days.
Cheyeza East: the recent high-grade copper intercept of 7.60m grading 4.15% copper is particularly interesting, not just because of its high grade but because it indicates a mineralogy which may be similar to some very high ‘world class’ discoveries seen in the DRC in recent years.
Arc’s chief geologist describes the higher-grade material as in the black saprolite weathered profile. The tabular shape weathered zone appears to host secondary oxide material influenced by meteoric waters, though most holes do not reflect the black saprolite material so far.
The geologists do not believe the weathered saprolite zone is connected with sulphide mineralisation below which is seen in visible chalcocite and chalcopyrite.
On questioning, the geologist confirmed the higher-grade weathered material looks like the ‘Terre Noire’ (Black Earth) material which often hosts very high grade copper in the DRC. We have seen Terre Noire ores running at very high grades copper in mines where the ore was thought to have been enhanced through the concentration of copper by the action of the water table, as at FQM’s Lonshi mine.
We note, it is early days in the geological interpretation of the drill results at Cheyeza East and much is likely to change in the team’s understanding of the geology of the deposit as new information fills extends our knowledge of the prospect.
The team have drilled around a third of the project so far so there is much to discover at Cheyeza East.
Major interest: The company reports it has signed a number of NDAs with other mining companies and at least one very large new player who has commented that the drill results are the ‘best results to come out of Africa for many years’.
Ivanhoe Mine’ s, Kamoa-Kakula mine, near Kolwezi in the DRC is around 200km to the north of Kalaba which is relatively close in geological terms.
While Ivanhoe has a number of projects much if its C$4.2bn valuation is based on its Kamoa-Kakula discovery despite its location in the DRC.
Kalaba: the Kalaba mine pilot process plant continues to batch process material resource needs to be refined to better enable the feed of ~1% copper ore for processing.
Zambia: tax issues in Zambia have concerned investors in recent years with the government looking to liquidate Vedanta’s Konkola copper mining assets due to significant tax issues. The government has also settled its tax dispute with First Quantum’s
good post. A multibag overnight could happen, if/when a major makes a move. But that will probably take a bit more time. We have just bought us a lot more time before we need to bow down to half bad to bad terms from them and we have a very smart board and CEO who will be more like Friedland and Mather and not give us away too cheap and too soon. We have had some of the best holes I have ever seen, and probably best holes in Africa for a very long time so it's all lining up pretty good - hence why I am buying large.
Looking forward to the call tomorrow. Always good to get updates directly from the management. I don't necessarily expect news before as we’ve had drill results last week but anyhow, chance to ask questions for all..
Btw - love John Meyer and how he portrays us.
I've bought almost 2m shares today, great timing actually. This news is EXACTLY what we want to see, regardless of some quite clueless ppl on here.
- imminent placing fears now uncalled for
- majors looking in see we are not desperate like everyone else - this is key as they usually always get their way. Not with us.
- the drillers, not rich ppl, want shares. Now why would that be?!
Conf Call Wednesday will shine more light. Maybe another drill hole in between?
https://www.uploadlibrary.com/SPAngel_JohnMeyer/Savannah_Initiation_Note_July_19.pdf
Savannah Resources* (SAV LN) – Mina do Barroso accelerates towards Europe’s major lithium source
Price 4.65p, Mkt Cap £48.7m
BUY
CLICK FOR PDF
Europe currently consumes 24% of global battery grade lithium material, despite being solely reliant on 100% imports. Major European governments and manufacturers are rapidly expanding technological capability and capacity, driving strong interest in establishing local diversified supply agreements across mainland Europe.
An impressive pace of exploration yields the fifth significant resource update in the last 15 months at the flagship Mina do Barroso, representing a ~15% increase in overall Mineral Resource to 27Mt grading 1.06% Li2O for 285,900t contained lithium.
Mina do Barroso represents one of four potential lithium projects spanning 543km2 across northern Portugal, including the principal tenement with a granted Mining Lease (5.42km2).
Three pending exploration licences are also currently subject to government review – Calvelo, Meda and Ponte de Lima.
In light of the reinforced mining inventory, SP Angel model Mina do Barroso intrinsic valuation for an enhanced 200ktpa 6% spodumene concentrate production facility against the 2018 Scoping Study.
The project realises NPV8 £346m (20p/share), supported by strict construction capital controls (capital requirement $138m inc. contingencies), lower quartile AISC costs of US$284/t (LoM average), and enhanced by-product economics evident from supplementary metallurgical study.
Portugal provides a very supportive jurisdiction, offering additional licences across eight districts for public tender with the commitment for domestic refinery. Development of local processing capacity will offer valuable lithium supply, with Savannah’s clean, coarse spodumene yielding potential high-purity battery material.
Indeed, a government agency has reported findings of a 2017 study that “the potential investment in five of the most attractive lithium-bearing areas at €3.3bn”.
Value upside is offered with the Consortium Agreement with Rio Tinto for the heavy mineral sand Mutamba project in Mozambique. Scoping Study economic report suggests US$154m pre-tax NPV10 (7p/share equivalent).
In light of the early phase of projects and protracted Mining License applications, SP Angel risked valuation yields 14.8p target share price; 12p/share and 2.8p/share for Mina do Barroso and Mutamba respectively.
Owing to the dilution of Al Marjan’s holding (following the 25% acquisition recently of Portugal project), Al Marjan fell below the level related to the definition of a Person of Significant Control, hence the removal.
Incorrect in every sense. Jeez.... Not even on same planet. Try again. Google Li conversion. Or see our scoping study. The IRR doesn’t change w dilution either. EPS does however. Anyways. Good luck. Your post should be a clear signal that you don’t know what you’re talking about.
Conclusion: The identification of probable economic copper grades in the first few drill holes is very exciting for ARC Minerals and its investors.
For a geologist the discovery of such allot of copper so close to surface in the first few holes is the equivalent to getting to the quarter finals at Wimbledon.
If the drill assays keep coming like this then the Cheyeza prospect could turn into a major discovery for Arc Minerals
I just have to post this even if the presence of CB has made me move 100 % twitter.
I’ve gone through all of Kiwaras Rnss and they didn’t hit a single hole as good as ours and sold a year later to FQM at resource estimate (not JORC) for $260mm. That’s key here. They’re our neighbors!