Member Info for Urbanracer

And as for not giving too much away, which interview did you listen to?

Why,

DL first mooted in 2017.

It was dragged up again as a subject in January this year.

Interviewers still bring it up and we still get mixed messages from Bill.

He is putting out EOI’s as soon as updated resource is published.

Why on earth would he go down that route bearing in mind costs and timescales but especially when he is looking to on-sell the company?

Thought for the day………..

I suspect that we are all waiting for news of Bill on-selling Landore. A buy out. A takeover. Whatever. That is the holy grail. That is the money shot.

We know he is talking to the companies; the ‘Big Boys’ as Bill puts it. As such, we should not concentrate solely on the MRE (important though that clearly is), but on the big picture.

Bill has made it crystal clear what one (or more) companies are looking for. He has confirmed it as 2 million ounces as a COMBINATION of resource and potential. Not the MRE! but a combination of MRE and exploration ounces. That is one of the reasons that he split his drilling strategy down the middle this year ie 2 x 11000 metres; one 11 targeting infill, the other 11 exploration. He had a very very good reason for such strategy.

By my maths, that target of 2,000,000 COMBINED ounces will be all but reached this year. I base this on 11000m at Bam grade for infill for 1.35 million to 1.4 million, and a similar amount of unclassified from the exploration 11000m which I added to the current estimated position on exploration material which I estimate at 250,000 ounces current (see PEA 2019 for details). The sum is 250,000 - 265,000 ounces plus 310,000 ounces for 560,000 - 575,000 ounces. 1.35 million MRE plus 575,000 ounces exploration is my ball park figure. Just a shade therefore below that magic 2 million ounces.

If grades have been a little higher this year than the Bam grade of 0.99 x1.03 g/t, and if the engineers upgrade the cut-off due to higher pog, then that all important target figure may have been reached or slightly surpassed!!!

If that is the case, the errand will have been done, the stated target reached, and the company will be sold.

Think about it.

There has been no dual listing, no upgraded website, no further fund raising, no further stated drill plans beyond west pit extension and initial Felix. Just an awaited MRE, PEA and base metal review.

Why?………Ask yourself that question!

1.3 MRE or 1.5? What does it matter if the combined 2 million ounces of gold has been achieved? By ?? Christmas! ??

As a renowned poster on here by the name of Madsktpan has said on more than one occasion, one day we will wake up to a share suspension RNS and an associated board recommendation to shareholders. It could be sooner than some think.

Silence is Golden.

UR

Put sorry

You certainly are the cliche king Geralt….

Care to pay some meat on those bones??

UR

My favourite quote now Samroy :-)

Well thank you Nice and hope you are well.

Very intriguing few weeks to come I fancy!

I have to admit that I am getting excited now; that little feeling in your belly if you catch my drift. Nervous anticipation is perhaps more accurate.

It’s not the MRE anticipation….

It’s not anticipation of the west pit infill results based around 800 and 900….

It’s those first sexy FELIX pins. If Felix drills are positive and reflect the au positive surface geo-chem results from 2019 and 2020, then the road to Lamaune is open.

The True Potential will have been proven and third party interest will intensify.

UR

No one expects the Spanish Inquisition!!

https://www.youtube.com/embed/Waha4c_y9qs?autoplay=1

Sorry about that; just trying to inject a little humour on a cranky board.

I got fed up with counting how many ways people can incorrectly spell the word (the noun) licence!!!

It is certainly not Laverda….

Take Bolton for example!!!!

Geralt sorry

Gerald,

Interesting post; John Salvage??

Morning all,

I reckon its just about 3 weeks today since drilling recommenced on Landore ground. We have no reason other than to think that they commenced on time, and have two rigs operating as they did all 2020/2021 season.

Initial drilling is in the vicinity of previous high grade holes at (west pit BAM) 800E and 900E, and is on what is believed to be either a new shoot or continuation of Bam west.

Those initial cores will be being pulled now.

I wonder what they are seeing either visibly or with the XRF analysers? We will soon know.

Then it’s straight onto Felix………….!

Cheers for comment and update on selling AM. Appreciated.

Cheers Samroy; you clearly share my sentiments going off your splendid holding here. Very impressive.

Interesting 2 or 3 months to come here.

(Cont)

Now, I don’t think, for one minute, think that we will sell this company knowing exactly what lies beneath. What Bill is saying is that there will be a balance, (maybe as early as Christmas) where a fair market value of the company in resource and potential can be made, whilst leaving plenty of upside for an acquiring company. In other words, we get a proper and fair amount per share buyout, whilst the acquiring company obtain a company with nailed on 9 years plus mine life (see previous PEA) with accompanying huge exploration potential.

Bill spoke about the battery metals, the current value, and potential for sale to second company along an east west trending line north and south of the Grassy Pond Sill. He informed us that there had been a gentle ‘sniff’ from Xstrata (I missed this at first!) at some point towards 2008, who had said they would talk when the 78,000 tonnes Ni eq. Ni43-101 Resource had been upped to 100,000. That point was not reached due to metals price drop post 2008 and a drilling cessation. I wonder if Glencore (who merged with Xstrata in 2013) are still interested? They are still a nickel miner.

So, we are at a point where the MRE for gold is anticipated, a review of battery metals is ongoing, and consideration is being given to succession planning. It is clear that any dual listing is not a priority as there ‘are other things to consider’, and I feel that the website is not a priority although we were told that it IS being addressed.

As I listened to Bill towards the end of the podcast, I began to form an opinion. It is my opinion, and my opinion only. A very positive opinion.

He made it clear, again, that there are interested parties. I don’t doubt this for one minute. There HAS to be. He has confirmed that, ‘once the ducks are lined up’ towards years end he will send out EOI’s. Does anyone on here, seriously doubt, that what Landore has will not already be out there. You’ve got to expect that CEO’s of multinationals, looking for corporate ventures and ounces, will be very well aware. And the EOI’s will leave things in no doubt. A poster elsewhere regularly talks about a certain historical success for Bill, and he is in no doubt of a repeat performance.

BUT, and significantly, Bill has made it clear that Landore are willing and able to continue. Not brinkmanship but fact. If fair offers arrive then negotiations will commence. If not, then Landore with Bill as CEO, or Chairman if he is succeeded as CEO by the right person, will raise money and continue to prove ounces. This will, in my opinion, become too obvious a company NOT to take out.

Sarah Lowther commented to Bill that it appeared that things were happening right now at Landore. After a suitable pause, we got the immortal reply ‘Silence is Golden’.
Read into that what you will.

UR

(End)

(Cont)

Bill spoke about timelines. They are a little behind for obvious reasons. If infill at the 800E and 900E is as expected, the results will be fast tracked for MRE incorporation, unless the geo’s take the view that the results can be handled as comment rather than inclusion. I would expect the former. It may delay things to mid-December but will provide as good an MRE as we can get as well as pave the way for the revised Pre-Economic Assessment expected in January.

Bill spoke about the resource. I think he has finally got the message home about resource, VERSUS resource and potential through exploration (step-out), so I won’t labour the point. What I would hammer home, however, is the fact the Landore drilling hardy, if ever, misses. This is why they have the phenomenally low drill meterage per ounce costs. This is not due to good luck. The Bam ground (and I say Bam as that is the current au resource area on Junior Lake) is complex and I have little doubt that prospective buyers are happy (for now!!) to let Landore build the resource due to the handle the geo’s have on it. That will, in my opinion, start to change as the resource builds and the value of Landore Resources builds with it.

Once again, Bill spoke about the comments (not comment!) from prospective purchasers about the potential, and went so far as to say that some had even encouraged Bill to concentrate on the cheaper (as less dense) drilling for exploration grade rather than the much more intense indicated figures. This can only mean that companies under nda’s are recognising the fact that Landore’s proven resource will continue to grow without a doubt, however they are clearly and understandably just as interested, if not more so, in the True Potential that Landore, as a single entity, will never be able to fully realise as time and costs would be prohibitive. There is little doubt that the 2 million ounce figure, albeit NOT YET achievable in resource, WILL be reached as a resource AND potential figure in the very near future (if not reached this year).

People have started to bandy this figure around almost as a throwaway. 2 million ounces is massive! If in doubt, just try and find the number of 2 million ounce discoveries in the past 5 years. Bill is talking about 4 million ounces (PLUS) and that is NOT for the whole of the property. If ‘Bam grade’ continues for the full 31km then all bets are off. That, however, is for the future, and, as Bill said, will be left for the buyer.

(Cont)

Last week, in interview with Sarah Lowther, Bill Humphries, the CEO of Landore Resources, spoke about the potential of what is understood to be a multi-million ounce gold resource in the safe jurisdiction of Ontario in Canada.

He confirmed the nature of previous hits to the west of the Bam (west pit), and that Landore had either discovered a new gold shoot or a west pit extension. They had reported an interval of 17.4 m @ 4.2 g/t, and that they have since had the cores (800E and 900E) reassessed. VG and nuggets of up to 55mm have been confirmed. Landore have made the decision to infill beneath and between on the same line so as to be able to include positive results at indicated grade in the anticipated revised Mineral Resource Estimate.

Interestingly, Bill went on to confirm that only once this has been completed, would they move the drills further west to Felix to drill in area identified, not only during the 2019 and 2020 soil sampling (geo-chemical) campaigns, but also as a result of previous drilling. What he then clarified was that whilst drilling between 2005 and 2008 at the (very) nearby B4-7 nickel deposit, drilling on the western side, which abuts the Felix gold prospect, saw assays reporting gold as well as nickel in core. This is why the drills were finally turned around, and the Bam (West) discovered.

Bill confirms that 21 km of the 31 km JL width is assuredly mineralised, whilst also saying that the only reason it is not (yet) the full 31km is that ‘they have not gone there yet’ although they ARE confident that the mineralisation continues along THE FULL 31km!

(From RNS 3.12.09)

‘Historical showings on the Junior lake property include 1.02 metres @ 2.37g/t Au drilled by Placer Dome in 1988 at the WESTERN END of the property and 3.0 metres @ 13.44g/t Au in trench sampling recorded by the Ontario Department of Mines in 1968 at the EASTERN END of the property’.

In other words, gold has already been confirmed at both extremities. East and West. This thing is potentially massive!

(Cont)