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Pleased to have this morning's update but disappointing to note the drop.
(What do investors expect during a transition stage?)
Fair appraisal of the way forward, all dependent on Brent.
I had expected a $75 - $80 range. Can't see it happening now.

Total trades today = 160k
Taken down on small volume.
Not a serious blow . . . but possibly a similar story tomorrow.
Sticking with it although not conversant with 18,000 ft probes.
PSI from discoveries at depth are likely to be uncomfortably high.

https://www.msn.com/en-us/money/markets/egyptian-billionaire-naguib-sawiris-says-a-quarter-of-a-portfolio-should-be-in-gold/ar-AAN94x4?ocid=uxbndlbing
What he says makes sense.

Instis made inroads last week but haven't been evident today.

https://goodmorningkenya.com/wp/?p=6752
Oparanya meeting in 2020 was more than a milestone.
He also had in-depth discussions with Uhuru Kenyatta last month on Ikolomani gold projects.
(Hard to tell if it is Ms Jenkins on the right.)

[In a nutshell = ~6,000 boepd from SapuraOMV. No price movement.]

My impression is Ardern is shutting down the country until January.
Presumable it won't have further implications on Maari closure.
An update from Blakeley would be helpful.

Have deliberately stayed out of sight for 10 days as SP non-performance is unexpected.
MZ has however come temporarily unstuck with a couple of setbacks.
ONP is barely maintaining 8k daily (a lot better than last year of course).
So much for my expected 20p. Some more patience needed.

@ 17:49 - Point noted.
Will transfer attention to JSE and TXP.
PS > Cu in Botswana is the next big thing if deposits can be located under 45 m of sand cover.

Present evidence suggests institutions are upping their stakes. And why not?

https://www.bing.com/images/search?view=detailV2&ccid=hOPVzLBd&id=8356DE6311278956A65F9B0EC44A2385D44C1806&thid=OIP.hOPVzLBd_150-j1_NjcriwHaFQ&mediaurl=https%3a%2f%2fvintagenewsdaily.com%2fwp-content%2fuploads%2f2019%2f02%2f3.bp_.blogspot.com19th-century-kimberley-mi-773310aca4e2eba234aef35a1a22433e83430c62.jpg&cdnurl=https%3a%2f%2fth.bing.com%2fth%2fid%2fR.84e3d5ccb05dff5e74fa3d7f36372b8b%3frik%3dBhhM1IUjSsQOmw%26pid%3dImgRaw%26r%3d0&exph=455&expw=640&q=kimberley+diamond+mine+archive+images&simid=607999393072483370&FORM=IRPRST&ck=A1C3184B0E5C75B2E6E9EBF558CCB649&selectedIndex=0&idpp=overlayview&ajaxhist=0&ajaxserp=0

https://www.alamy.com/stock-photo-old-workings-kimberley-diamond-mines-the-diamonds-are-found-in-a-grayish-80036529.html?pv=1&stamp=2&imageid=D1A7D1AE-BC26-4059-95A5-12084E6F4F92&p=55160&n=0&orientation=0&pn=1&searchtype=0&IsFromSearch=1&srch=foo%3dbar%26st%3d0%26pn%3d1%26ps%3d100%26sortby%3d2%26resultview%3dsortbyPopular%26npgs%3d0%26qt%3dkimberley%2520diamond%2520mines%26qt_raw%3dkimberley%2520diamond%2520mines%26lic%3d3%26mr%3d0%26pr%3d0%26ot%3d0%26creative%3d%26ag%3d0%26hc%3d0%26pc%3d%26blackwhite%3d%26cutout%3d%26tbar%3d1%26et%3d0x000000000000000000000%26vp%3d0%26loc%3d0%26imgt%3d0%26dtfr%3d%26dtto%3d%26size%3d0xFF%26archive%3d1%26groupid%3d%26pseudoid%3d%26a%3d%26cdid%3d%26cdsrt%3d%26name%3d%26qn%3d%26apalib%3d%26apalic%3d%26lightbox%3d%26gname%3d%26gtype%3d%26xstx%3d0%26simid%3d%26saveQry%3d%26editorial%3d1%26nu%3d%26t%3d%26edoptin%3d%26customgeoip%3d%26cap%3d1%26cbstore%3d1%26vd%3d0%26lb%3d%26fi%3d2%26edrf%3d%26ispremium%3d1%26flip%3d0%26pl%3d

Which reminds me when in Kimberley, Shanta will somehow have to keep locations under wraps for as long as possible. Otherwise another 80k would-be miners will descend on the place. The higher grades could well be around Ikolomani but that remains to be seen. And -

http://www.getamap.net/maps/kenya/western/_bushiangala/

resettlement of affected communities will be complicated. The up to date satellite image demonstrates population density in the area.

At some point the 40-metre grids will be rejigged in order to focus on them high grade pockets. 40 m grids miss some of those 5,643g p/t targets.

https://www.londonstockexchange.com/indices/ftse-all-share

Reference to the above has been made twice. The £ is pulling ahead of the euro and is likely to remain so. Serious investors should track the AllShare and consider taking up a wedge in a reliable UK growth fund.

No timeline offered but Shanta's health looks assured.

@ 16:13 - It was Barrick (not BHP) and Mark Bristow will be back. Maverick though he is, he remains very pumped up on East Africa. Also, MB has had a lot to say in the past 24h. You can check out most of it on the web. Globe&Mail have also nailed him.

If we ever start probing 800-metre depth it will indicate a real step change. Shanta doesn't have the expertise or huge working capital to sink a shaft on its own. That is the province of the majors. Early days here of course . . . I can see a Palaborwa-type operation coming along if multi-oz Au grades keep popping up.

https://www.miningreview.com/wp-content/uploads/2015/02/rsz_palabora_open_pit.jpg
(The Chinese stepped in there.)

The institutions that took up some stock might well be sitting up right now and committing further. If 30p is indeed the short-term objective we could see some real movement next month.

https://www.bing.com/videos/search?q=witwatersrand+gold+ore+grades&cvid=e66d8151e65c45f498b78c12cccf9b09&aqs=edge..69i57.26084j0j1&pglt=43&PC=U531&ru=%2fsearch%3fq%3dwitwatersrand%2bgold%2bore%2bgrades%26cvid%3de66d8151e65c45f498b78c12cccf9b09%26aqs%3dedge..69i57.26084j0j1%26pglt%3d43%26FORM%3dANNTA1%26PC%3dU531&view=detail&mmscn=vwrc&mid=74917CBBF2E5F1E0F8C674917CBBF2E5F1E0F8C6&FORM=WRVORC

Had another look over the weekend at what Andrew Jackson had to say in his #8 commentary. For those who are riveted to the WK story listening to him will correspond in parts with EZ's observations this year. For myself I do not know if the exploration area is hydrothermal or placer but (like the Wits 50 km footprint together with extensive artisanal mining activities) I am convinced the Lihranda corridor does not stop at 12 kms.

The enthusiasm generated by "visible" gold and extraordinary high grades found after 1/3rd of the drilling programme are understandable. Discovery of 5,643 g/t, even in isolation, puts it right up there with anything found in the Transvaal . . . especially as it is within the open-pit window @ ~200 metres.

I doubt EZ et al had any anticipation of such high grades and wonder what Yuri's latest projections are.

Blacktop or other will have to be added to the 1 km airstrip at some point. The existing runway is comprised of graded mine material. Maybe it's already been done.

https://cdn.share-talk.com/wp-content/uploads/2020/12/SHG.jpg
(enlarge to full page)

Considerable sums were ploughed into NLGM last year. Foreground shows power units and solar panel arrays. Stockpiles of ore visible, milled volumes mid-distance. Site needs extending on the right for mine dump when peripheral additions are trucked in. Aerial taken before Nov. 2020 when a third mll was commissiioned so the site will have changed again.

https://www.sgs.co.ke/en/office-directory

https://www.sgs.com/en/natural-resources/geochemistry/solutions/geochemistry-on-site-laboratories/mobile-sample-preparation-units-mspu

At one point I thought cores were being sent all the way down to Rustenburg but now see that SGS, besides mobile lab facilities, have a fixed office in Kisumu.

Presumably "undisclosed" will not include Rosterman/Kakamega as only one token hole was drilled during Phase 1. Isulu looks stronger than Bushiangala thus far. The "corridor" is going to be very busy through to mid-2022. There is zero data on the Kakamega Dome: no mapping which underlines scope of work yet to be done. Noted the drill bit will be reaching down ~600 metres. Interesting times ahead . . ..

(1)
https://www.cambridge.org/core/journals/antiquity/article/radiocarbondating-an-early-minting-site-the-emergence-of-standardised-coinage-in-china/178ECC2B245A017BF684BE1EFC732BD1

I remain committed to the idea of gold bullion as foundation stones although Rishi Sunak's mutterings on some form of part-crypto has thrown me somewhat . . . reassured to some extent by the oldest known mint being located at Guanzhuang dating back circa2,600 years.

(2)
Shanta remains my largest single AIM stock. After the earlier surge to 19p there are constraints inhibiting a return to that level not least of which is an apparent PoG control by background players. ($2,500/oz has thus far been shown to be a load of nonsense.) Realistically a few hoops have to be jumped through before any SP lift/recovery emerges.

(3)
As possibly the oldest poster here I encourage younger folk to also examine other avenues on LSE: one suggestion is a recognised growth fund. I was sceptical when setting aside a sum in 2010. It has however increased in value (64%) in the past 12 months. The last 6 months have been more representative @ +24%. I give the holding very little attention.

. . . Whereas volatility on the AIM - not confined to SHG - can be unsettling. Even averaging down is seldom a quick fix. The institution/funds, too, are affected. In their case the anxiety is less pronounced. They have been buying up to 18.5p and have been given an undertaking of regular dividends in the next few years.

Spread the risk in PFs.

https://nation.africa/kenya/counties/kakamega/gold-refinery-a-game-changer-for-kakamega-miners-3499558

Perhaps EZ remains mildly interested in developing the 10-acre site.

I'd forgotten about this general area which I prefer to call KikuyuLand. It is an immense greenstone belt more extensive than Shanta's 1,100 sq km Lihranda corridor. No mention has been made of it and mineralisation must be huge.

https://www.google.co.uk/maps/place/Mount+Longonot/@-0.9318218,36.4589531,29823m/data=!3m1!1e3!4m5!3m4!1s0x18292de65d524a6d:0xfc22753fbc0ce97a!8m2!3d-0.9210039!4d36.4472577
(See satellite view using all coordinates)

https://www.bbc.co.uk/news/av/world-africa-58055592
(At 1:27 there's a great aerial of Mt Longolot)

Surprised we drifted a bit today when considering the catalysts waiting in the wings.

https://www.bbc.co.uk/news/av/world-africa-58055592

Grounds for optimism, I reckon.

Rutting season coming up. The big bull elk can get a bit ugly if you go anywhere near their harem(s) sic.
Had to climb a tree outside Banff. I miss the camping in the Rockies. Threaten to exile PB to Prince George @ -20C if he doesn't get a finger out pronto.

Thought we might have started breaking out today. Maybe tomorrow . . ..

Moving along quite nicely this morning.

NB > Stay clear of the river bank outside Smithers. Black bears chased me along that wooden bridge near the town. It was their hunting ground.