Member Info for Urbanracer

Hahahaha,

Keep the one liner cliches coming nbul.

Can’t beat ‘em!!

Rather a provocative post Scott. Care to rationalise?

Hi AM,

I don’t take any issue with your MRE timings; last week October or into November makes no odds to me. What matters is how they market the damn thing.

That is the crux of the matter.

Mads,

Absolutely spot on.

Richy,

That is the point we are all making…..it may NOT reflect in the share price. It depends how the company manage the new MRE and PEA and I am not confident about that at all. Results are good. Corporate side is woeful.

Samroy,

Those 7 results will be added; the RNS 090921 make that clear.

It is the results from the Felix campaign starting mid Oct that will not be. They will feature at some point in the future.

Btw Samroy,

If and I say IF the lab pulled it’s finger out, and got the last of the results to Landore early, and IF Landore moved heaven and earth to do their stuff and get the later work to Cube pronto, and IF Cube were in a position to finalise the MRE in double or treble time then perhaps end of October is possible.

However, I am a betting man………and this IS Landore……..……. :-)

Samroy,

I doubt October now mate for resource.

The RNS on 090921 states that final assays due back at Landore late sept. That’s if they are on time.

Landore then carry out assessment and other work on the figures PRIOR to forwarding to Cube. Even if the data reaches Cube sometime in October, it will take time for Cube to do their stuff and assimilate into work for MRE already carried out.

As such, November would be great but potentially December. We have to be realistic.

Don’t forget, everyone was banging on about Q3 a week ago and I said that that was not possible.

Conclusions based on estimate of meterage @ Bam grade gold average.

I anticipate around 1.5 to 1.7 million in NI 43-101.

I also anticipate a reasonable amount of unclassified to be reported also as we did still have an unspecified amount ‘in the bank’ from 2019 and this will also have been added to I expect. (although we will have lost some to upgrade ).THIS is where we may see sufficient to start talking 2 million ounces although, as Mads states, this WILL be outside the MRE figure. I anticipate 100,000 to 300,000 ounces.

For clarity..MRE 1.5 to 1.7 million ounces; Unclassified 100-300,000.

If both figures finally reported ARE the latter; you have your two million BUT NOT in MRE. This should clarify even if my figures are well out.

2 or 3 months and we will know.

UR

So where does this leave us for this year? The current NI 43-101 compliant resource is currently 1,013, 000 ounces. This is built up as what is described as BAM grade gold which is 0.98 to 1.04 g/t average. I did a simple calculation based on meterage drilled to achieve this figure since 2016, versus the amount of drilling planned for the 2020/2021 campaign. Presuming the BAM grades as reported are constant, my calculations led to an approximate total of 1,666,000 ounces in inferred and indicated.

The difficulty now, however, in accurate assessment of meterage, has been complicated by two factors:

1. Exploration drilling (step outs) was interrupted by fire outbreaks. Although drilling is re commencing in Mid-October, we now know that results from this will not be utilised in this years figures as first results unlikely until Dec/Jan and MRE out Nov or Dec so no time to incorporate EVEN IF results were sufficient for inferred which I doubt they would be (ie exploration/ unclassified).

2.Drilling plans were amended as knowledge of the ground (especially Bam East) was gained (eg additional 5 x 25m centres around ‘bonanza ‘ drill result of March 2021. As such, I am not quite sure exactly of the current meterage numbers.

(Cont)

Morning Mads and Samroy,

I reckon its actually a bit of both. Bill has confirmed, in interviews this year, that the gold resource is assessed by geo’s (read Chris Cooper) to be in excess of 4 (FOUR) million ounces of gold. IN EXCESS!! As far as the anticipated 2021 MRE Samroy, however, Mads is spot on.

The aim this year, as I understand it, was to build the all important Indicated category. That necessitated additional drilling in the previously identified inferred resource category to allow the denser drilling to aid confidence and upgrade Inferred to Indicated. Alongside this will be the additional aim of drilling up (in the same manner) previously identified unclassified (ie exploration level) gold to a level sufficient (as defined by Competent Person ) to move a percentage of unclassified into the inferred category.

It is the Indicated and Inferred that sit inside the necessary NI 43-101 compliant resource. (There is also top end ‘measured’ resource however that level does not have to be utilised). Finally, Bill has also stated, in interviews this year, that the unclassified material, albeit outside the published MRE, CAN be referred to and apparently WILL be taken into account in any negotiations. That simply means that any geo’s (From other companies) who have been brought ‘inside’ under nda’s , clearly must be in agreement with assessments made by Landore geological staff or Landore consultant.(s)

(Cont)

Hahahahha; absolutely cracking post Am! Love it.

UR

Ps I can just hear the ambulance turning into your street now. Hope the men in white coats treat you well! :-)

Maestro,

(Re q to Michu).

From RNS 090921…….

‘The Drilling Programme, on the BAM Gold Deposit and immediate exploration to the east and west, concluded on the 1st August with the completion of drill-hole 0421-818 on the West pit extension. Sample preparation has been completed with assay results now expected to be received by late-September after which the data will be collated and forwarded to the Engineers for the Resource Update’.

Seems pretty unambiguous?

Two things cleared up then..

1. Final results to Landore late September. Following analysis, they will be forwarded to Cube for incorporation into MRE. Appreciate work likely to be ongoing but, even so, the fact that final assays for inclusion likely to be forwarded to Cube in October mean that MRE likely November or December.

2. MRE will clearly NOT be held back for the intended Felix drilling results (commencing mid October) so results from this will be added to a future MRE either for just that additional Felix stuff OR with results of a 2022 campaign should we get that far before the anticipated Corporate transaction in whatever form that comes.

The main thing is this. Everywhere this company drills hit gold. Results are constant. If Felix mirrors this, (ie continued BAM grade) as we expect, then there is no way on gods earth that we will not see events start to unfold.

UR

Hi Maestro,

I agree totally. It’s just that I cannot see how they can do it within the next 3 weeks.

I sincerely hope you are right; I just have my doubts for the reasons I set out.

Cheers pal.

Hi Maestro,

Unfortunately I cannot, for the life of me, see how Cube would be able to complete the new resource update this month, or possibly even the next.

The other issue is the planned drilling at Felix to the west of Bam. They had clearly intended step out exploration drilling until the forest fires caused an unfortunate halt to proceedings at the end of July. Should that drilling have mirrored what they found in soil sampling in 2019/2020, we would have had a goodly amount of new unclassified grade gold in our ‘bank’.

Now, whilst I know Unclassified cannot feature as resource (read NI43-101), Bill has twice (for what it is worth) made mention, in interview, of the unclassified (exploration) material saying that any buyer of the company would take this strongly into account alongside the ‘evidential’ Indicated and Inferred resource within the new NI43-101 complaint MRE. That strongly suggests that other geo’s (presumably within NDA’s), agree with their counterparts at Landore about what the exploration is saying. (Overarching assessment).

This raises two issues:

1. An MRE (Q4 IMO in any event) without significant unclassified resource alongside.

2. An MRE with such data alongside, however potentially not appearing until Q1 2022.

We need clarification from Landore on exactly what the (mid October commencement) drilling plans are. Are they an over run of current campaign as we think, or the start of a new 2021/2022 drilling season.

As ever, with Landore, answers on a postcard.

I remain Bills humble servant.

UR

Hahaha fair enough Crumbles…

Normally 7 but there is always that sneaky exception.

You simply never know here.

Very exciting times eh?

Just saying……

You don’t recall correctly….

RNS 8th June. 8:02 am.

It will be a good night no matter what Nice.

To finally meet the long suffering players especially you, Mads, and would also love to meet AM90. Me and some others on the T group speak directly so will be a good turn out.

Conspiracy theories to follow shortly. See what ol’ Mads has to declare.

Cheers

UR