Member Info for Urbanracer

Now then Mads; hope you are well?

It’s been an interesting week or two certainly, and there is a growing interest in Landore and Junior Lake which is well overdue. I won’t repeat what has already been said by such as Nice and AM90 in their excellent posts but would say this.

Landore’s excellent soil sampling results for both 2019 and 2020 indicate continuing mineralisation to Boras Lake and onwards to the west, and at least an additional 2.1 km east towards Toronto Lake. The exploration drilling currently planned should go a fair way to confirming this. We have already had confirmation that pre-assay examination of cores indicate Bam style mineralisation, and also that the deep exploration drills are showing visible gold. Our first set of 7 infills actually confirm Bam grade gold.

It seems therefore that the infill required to reach the intended 2021 target of 1.4 mn in inferred and indicated is well on target whilst early pre-assay comment strongly suggests that the exploration aspect of the 2020 winter campaign is similarly on track. In addition to the main thrust of the (generally) east to west anomaly, Landore are now talking about ‘splays’, ‘shoots’ and ‘mullions’ in south westerly directions from both Bam and near Juno Lake adjacent to the B4-7. That this has been mentioned in both last results RNS’s indicates that Landore’s geo’s think this is significant.

It is now clear that these results are exceeding Landore’s expectations and looks as though Bill and team have taken a view that they should maintain momentum. We know they are funded for the 2020 winter campaign but not beyond. They have decided to move straight into a 2021 spring/summer campaign.

Obviously they have been putting feelers out for funding and we all know what has happened as a result. Why should we be surprised.

Placing’s and associated dilution is part of the exploration process but I would say there is an important point to bear in mind with Landore. It’s funding to build the discovery; not to see if there is a discovery to be made. Big, big difference!

I hope they get a confirmatory RNS out with immediate effect and draw a line under it. Further drilling updates could arrive any time, and if the exploration stuff is as we expect then the sky is the limit.

A recent banner headline was ‘Gold is everywhere’ and it seems so. I just wish Landore would reflect on their communication methodology. The last RNS was good and as expected. The problem is that there was no comment at all from Bill. He need to point out the significance of what they are seeing otherwise people home in on grades which we know are not exciting. He needs to point out that the mineralisation is continuous, near surface, with fantastic recovery figures and associated low opex. They also need to comment on what all this suggests. To me, at least, this points to the long suspected multi million ounce resource. Again; multi million ounce resource. (Cont)

Who flippin cares......

11 years here and looking fantastic.

I could not give a monkeys about 1 hour and 58 minutes worth of share price fluctuation.

Kodal Minerals (KOD)

Lithium and gold.

Good show Pattb,

Like Mads, been here a long long long time.

I certainly concur with your views and great to hear from a new (to me anyway) clearly knowledgeable investor.

Cookie eh Mads. Now that’s a name from the past!!

Evening Pattb,

Interesting reading your posts.

I get the impression you are not entirely new to Landore?

Good ‘ol ‘Haveron Col.

Top post.

Mads,

I agree. Got to be soon. Landore pretty much always do an interim drilling report (been checking back) so will be very surprised if they do not stick to format. I just know the labs are vv busy.

Scally Mickey,

By a country mile.

I will admit it.

Mike,

Whilst I appreciate there are laboratory delays, I strongly suspect we will have an interim drill release before April.

This is a massively undervalued multi asset, multi million ounce gold company.

I think people and the market are finally getting it.

Not before time.

UR

Missed that Mads.

Great stuff

I know Mads,

I hardly dare say it but it does look as if things may be coming together now.

We know Barrick were interested back in 2016; we are streets ahead now so there really must be companies having a proper proper look now. From what I can see, there must be significantly more gold than the (strategic aim of showing) 2.4 million ounces. Significantly more. Once this is finally and properly realised who knows.

Add in the other stuff with the current high prices (Nickel now a smidge under 5 year high) and I reckon a bidding war looms.

Mads,

The doc is poor in my opinion. It still refers to base and extended cases that are, as we know, ancient history now. There are also errors and it is far from clear at times wether it is attributing value to BAM (gold) only or the additional resources.

They are using 1650 now instead of previous 1300/1500 but I think the truth will be out when the new PEA is completed in April.

As for the company, I am extremely bullish now. They are hitting gold everywhere they look. (I know Cenkos have used this is in their banner headline) .

Looking forward to drill results now especially the (visible gold) deep stuff. I reckon you may well get that suspension RNS earlier rather than later. Just hope against hope that we reach that fair price. That said, geo’s from potential acquirers must be seeing the same as our experts when data is analysed.

DGR,

Not sure I would agree with you there; on either point.

MFU.

Appreciated.

UR

Jambo,

Spot on. I have been arguing this for ages.

In the past, Greatland used to release drilling results pretty frequently. We can all understand why they adopted that policy initially.

We are now in a different world, and it is clear that they are taking a different approach. As each hole is completed and the core or spoil logged, it is transported to the laboratory. I appreciate this can be singly or (more likely) in batches. The material is analysed and data recorded. (There are no arguments here about the fact that analysis has been delayed by weeks due to the well known reasons).

Once the data is recorded, it is fed back to the relevant company . I have absolutely no doubt whatsoever that there will be a representative (s) from Newcrest who will have access to that data alongside the Ggp staff. They will have had access to this data from day one, and, by now, will have a very good idea (if not complete) about what they have actually got. This is all allowed quite clearly under Aim rule 11 (a) (e).

That the above is fact, I have no doubt. What is not clear is wether or not results are simply being held back so that everything from Scallywag can be released on one post-season campaign (RNS) release (as many exploration companies do) OR wether a (further) delay is due to ongoing negotiations with (presumably) Newcrest about (for example) a further joint venture as a result of the results received. (Again this is within Aim rules).

All I would say is this. If results are poor then they will know by now. Even IF they have not got all assays back. If results are poor, there would be no reason for any negotiations. If initial results were poor, and subsequent drills (via XRF) showed similar on-site readings, I doubt if they would even be submitted. This points, in my opinion only, to results being good.

Perhaps two conclusions now can be drawn:

A) Greatland simply want to release the results of the 2020 Scallywag campaign in one hit. And they are good.

B) The results are good and results have been (further) delayed in accordance with Aim rule 11 for the purpose of negotiation with a third party presumably Newcrest.

For consideration

UR

Gymboy,

Are you on Telegram. There has just been a discussion on the same topic. Obviously becoming an issue as people discuss the various possibilities in relation to what are perceived as Scallywag delays.

Hi Gymboy,

It certainly can. If you have a scroll back under my username, you will see two or three posts on the subject. Hopefully this should clarify the issue. (You might have to go back a little bit but shouldn’t take you long).

Cheers

Gymboy,

Have a read of Aim rule 11 (a) (e)

Hi Nice,

Didn’t realise you had been a Ggp holder. Great journey that one, no doubt.

There is a chance JH is drip sell feeling but tbh I wondered if he had been approached if stock was short.

The reaction today was pretty much what I expected. Landore don’t seem to be putting a foot wrong at the moment; it is simply apparent that they are sat on a massive gold field here and did not know in years gone by as the B47 and VW sit to the south.

All that said, and even though Landore have upped their PR game recently (at last!), we are still sat below the radar . I recall April 2016 when the first gold report (also announced as Significant’ by the way) came in, and that did get out properly. The volume that day was through the roof and we saw that tremendous 300 per cent sp rise. There has simply not been the volume today and it has pretty much reflected what we saw just over a year ago when they released similar excellent geo results. That is why I am not surprised at the somewhat muted response today.

In conclusion though, I see this as gaining traction and the imminent interim drill results will help further (reading between the lines it sounds as though they are good). Hopefully we will get an interview with one of the team to complement the results and a ‘Sprott Note’ would do no harm.

UR