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@ 12:50 - Excuse ignorance. Is LME London Metal Exchange or Limitless Earth Plc ?

Whilst not having any idea how a third operation is going to be accomplished the wealth of deposits in the corridor is astonishing. Ramula camp has been a revelation and the majority of probes have not gone beyond 120 m.

a) a Yuri interview would be highly rated
b) spillover results into Miruka, Anomaly 22, etc have been a bonus
c) trucking distances between Ramula > Isulu > Bushiangala are too great for a single bolt-on operation (Barrick attracted back?)
d) 1.5 m ozs can now be expected from Ramula camp alone

SP reaction is an unknown but it will be well beyond 12p.

Those who are already in SHG will quickly recognise that the company is already out of the starting blocks, producing with negligible debt at a desirable AISC. Whereas OreCorp has some astronomical financing to address before 2026. They have a very long way to go.

https://www.miningreview.com/gold/new-wave-of-gold-orecorps-nyanzaga-reveals-true-potential/

https://orecorp.com.au/projects/tanzania/nyanzaga-project

The location of Nyanzaga, Buzwagi. Bulyanhulu, Geita, etc might look convincing but we -
a) have extra-ordinary grades up in WK
b) very much easier logistics at Singida and
c) an accelerating footprint and programme at NLGM.

. . . whilst talking Singida :

“It takes us up to more than 100 000 oz of yearly gold production but potentially we’re looking at doubling this, as the West Kenya project – according to the scoping study we’ve completed on it – could produce another 100 000 ozs pa or more,” he says.

“Shanta is definitely on a growth path and we’re very excited by the company’s prospects.”

[We now have two decent airstrips. I look forward to the third one between Kakamega and Kisumu . . . and believe Eric can now go it alone until he needs brains for deep mining.]

Pivot Mining Consultants, Jhb, revised Micromine's original modelling and estimated 904k recoverable ozs to 120 m depth from nine known deposits over a 5 km radius. Not long to starting date . . ..

@ 10:22 - Effective comment.
Crown pillar defects and shear zone faults can be overcome.
Pursuit of local content policy (e.g. emulsions) can be disastrous.
There is plenty of historical evidence showing the consequences of misguided practices.

Thought-provoking posts yesterday. Very useful, indeed. Bullet point comparisons although not in correct sequence -
* Rukwa vs Virginia, OFS. Renergen was a fortuitous discovery
*Odendaalsrus/Welkom (Au) mines a stone's throw from Virginia (He)

*Lupa goldfield licence > 1,100 sq km most of which has yet to be explored
*Rukwa lake and environs reveal extensive seeps
^BauhiniaCreek open at depth, mineralisation evident @ > 580 m

Highveld is probably the only one to have been along the B345 in recent times: it's many years since I was in Mbeya.

When debating assets Geita, Bulyanhulu and Buzwagi should be examined. Geita's >600k oz pa Au production is likely to make the ~20p takeover brigade look very foolish (especially if WK tops a 2m oz reserve in 2023) when BauhiniaCreek probes go even deeper.

I am not saying we shall match Geita because Sukari's 400k oz (CEY) is the next objective.

Singida's yield will be greater than the first target. Unfortunately I have lost contact with Micromine's Bothma. The original modelling indicated more mineralisation at depth, particularly at GoldTree. Open-pit construction, when it finally got going, has been rapid and spectacular. The licensed area is stated as 98 sq km around Mang'onyi/Mwau. Uncertainty remains if we hold exploration rights north of Singida where artisanal activity takes place.

Eric, Yuri et al. have every right to be "excited".

Good posts today. I'd like to elaborate tomorrow with emphasis on the Au/He connection between Odendaalsrus.Welkom/Virginia (OFS) and

> Lupa/Mbeya/Rukwa similarities.

https://www.renergen.co.za/renergen-projects/virginia-gas-project/

delusional, bipolar or psychotic.
Spelling certainly got trashed.
Or is reference to CEO?

@ 13:25 - Ramula/Dhene camp is critical. Overall, Acacia (Barrick) always reckoned 3m ozs Au would tip the scales in favour of an open pit startup. At present we are <2m ozs.

I keep an eye on Ken Bristow's musings:

https://www.barrick.com/investors/annual-report/mark-bristow/default.aspx

https://www.investmentreports.co/article/mark-bristow-president-and-ceo-barrick-gold-441/

https://www.msn.com/en-us/health/markets/throughout-time-gold-has-been-a-safe-store-of-wealth-says-barrick-gold-president-and-ceo-mark-bristow/vi-AA14hoWS?category=foryou

Three points:

a) Are we to assume from high end December nos. that majority of all available barges are on their way downstream? And they take 30 - 40 days to get back to the two loading quays?

b) Cuninico segment/community remains a stumbling block -
https://www.petroperu.com.pe/english/press-room/news-and-announcements
Foot patrols appear to be the only measure.

c) Reduced bopds until barge rotation smooths by end-January?
https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos

https://www.marketscreener.com/quote/stock/WINSHEAR-GOLD-CORP-49477033/news/Helio-Resource-Corp-Intersects-High-Grade-Gold-Mineralisation-at-Gap-Target-SMP-Gold-Project-Tanz-38523710/

. . . worth noting if Porcupine (north), Gap, etc are ceded to SHG.

https://winshear.com/projects/in-tanzania/smp-gold-project/
(aka Helio)
The licence, mostly around Saza village, is still under dispute. The grades ~2010 compare favourably with BauhiniaCreek.

Have been reviewing NLGM after establishing the west-east ridge extends 50+ km which amounts to a fair comparison with the Witwatersrand. For reference we can now incorporate the following in future targets which run well to the east of Porcupine South (~22km from processing plant):

* Ruth, Maperi, Ntumbi, Makatamgombi, Itumbo, Mpuya, Chapa-Chipoka, Gaga
* the Quartzberg - Hodges, BlackJack, Zumbi, Twiga, Nigels, Kalangala, Usangu
* the Lambo region (WNW of the Luika perimeter) has strong mineralisation data in the Tanz GS. It is also evident that mineralisation is strongly reflected in the granite feature north of the Luika mine boundary.

https://www.proactiveinvestors.co.uk/companies/news/1001274/southern-energy-shares-excitement-around-gwinville-drilling-campaign-1001274.html

. . . forgot to add above link on 22/12.

Rapad #41 programme believed to be continuous from one site to the next over current campaign. CottonValley will follow at some point thereafter.

https://rapaddrilling.com/rig-41/

If longevity (as per NS) is a valid measurement 1959 in Ngong hills is the starting point: substantial deposits remain around Rosterman - subtargets to the south at Bukura and Sigalagala - before searching Bushi/Isulu and elsewhere. Only one token RC drill was completed at Kakamega before the real attention was transferred ~4 miles to the south. We should learn a lot more on the Lihranda corridor next month.

IMO a gold startup (open pit) will appear within 3 years. The biggest hurdle is land compensation. It remains problematic. LTHs would do well to scour the literature:

http://www.parliament.go.ke/sites/default/files/2022-11/Land%20%28Amendment%29%20Bill%2C%202022.pdf

https://www.theafricareport.com/128171/kenya-artisanal-gold-miners-finally-have-government-support/

https://www.theelephant.info/reflections/2020/11/18/time-to-address-compensation-and-resettlement-issues-in-kenyas-mining-sector/#:~:text=Kenya%20passed%20a%20new%20Mining%20Act%20in%20May,whose%20payment%20must%20be%20prompt%2C%20adequate%20and%20fair.

. . . and there's more of it.

Singida

There are nine defined deposits of which three - GoldTree being the focal point - are the first objectives. Overburden and ore have been stockpiled since September. (As SHG have quoted 98 sq km on more than one occasion I'd be interested to learn if licences are held north of Ikungi where informal mining occurs.).

Ridiculous reaction. Will take a closer look next week after examining clean-up processes on long laterals.

https://www.linkedin.com/posts/jiten-divecha-pmp%C2%AE-88742a66_shanta-gold-modern-mining-activity-6871741114332790784-3l0o

Primary purpose of the link is to draw attention to ModernMining article, which might have been overlooked by most. Quite a buzz building in the background.

(Also looks as though EZ is contemplating a plus100koz project at Ramula/Bushi/Isulu.)

https://www.google.com/maps/place/Southern+Natural+Gas+Co/@31.7578483,-89.8757163,1268m/data=!3m1!1e3!4m13!1m7!3m6!1s0x8882b1a7e2a7c173:0x74441caf5d4c49d5!2sMt+Olive+Rd,+Mississippi,+USA!3b1!8m2!3d31.7547077!4d-89.8149445!3m4!1s0x8882a9663ee1101f:0x2c56db9488a02173!8m2!3d31.7580191!4d-89.8776862
(satellite view)

https://twitter.com/SouthernEnergyC/status/1605963373266358280?cxt=HHwWkMCinbzLw8ksAAAA

I don't know location of the site shown but forgot to mention the Sonat installation is barely 2 miles from the first pad 19-3. The tweet is probably a reference to the next 5 pads (13 wells).

https://uniforumtz.com/opportunities-shanta-mining-company-limited/

Recruiting continues at Singida with Feb 6 deadlines.

https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos

* Good to see the barges on the Ucayali again
* Seem to have read somewhere that James Perez has taken over as Iquitos mayor (from his brother) which hopefully keeps him fully occupied instead of stirring up the sh.