focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Hi Tester, I accept all you say in your response. I was venting frustration as I feel that MC has wasted some years on aspects of this project, I also feel that he has been too slow to adapt his plans. He should have ditched the resettlement plans long before he did, he should have also stopped spending money on the drill bit long ago. We have had a good resource for many years, he could have gone down the route of smaller scale production a long time ago.
He isn't a geo or a miner and I have strong doubts about him being the man to take this project forward. Perhaps it is time for someone more qualified to take up the reigns . Someone with the required skill set, drive and industry contacts?
I would rather hold shares in a gold miner producing 30 to 40 thousand oz than in a sinking project still proclaiming the potential to produce 120,000 whilst the waters are lapping around our waists.
I am starting to feel that you may have a point. Every time that I listen to Mark give a presentation I now think "here we go again, the same old bull". Material progress is what we need, not waffle and promises but real solid progress. I know, we just need a bit more patience and a bit more and a bit more adinfinitum.
Mark stop dragging your feet, stop frittering money on drilling as the market doesn't care, stop repeating the same presentation.
Instead buy a small second-hand plant, high grade some ore and start making some bloody money. That has to be a better option than the drivel he keeps repeating. No one wants to buy us, no one wants to do a toll deal, we are too small and management unproven to fund 100+ million.
Get on with it man!
Ah that's better.
There is clearly something wrong here, we are showing blue. I seem to recall blue means that the share price is going up, I am a little vague though as it has been so long.
Harry was given the boot from Emed for being totally useless and not up to the job. He then moved on to Kefi where he has maintained his unblemished track record of being totally useless and not up to the job!
Atalaya are now doing very well operationally and the have what seem to be a very capable management team who are hungry for challenge and growth. I would be more than happy for Ariana to have some kind of tie up with them. Kefi under Harry's management however would be a very different story. We should stay well clear of him unless of course we wish to buy a couple of second-hand cars which conk out 100 yards down the road.
Small scale production from the high grade pits would get my vote. Keep costs down, keep profits high and pay off debt quickly then expand. If we could start with second-hand kit then even better.
I have been here for over 10 years so whatever we are going to do just get on with it. The whole "just need to be patient" line starts to wear a tad thin after this long.
MTR must have seen potential in Thor's assets to take a stake. After the MOD deal MTR are now very solvent with over £20million in highly liquid Sandfire shares. They also have some great contacts.
If they still see potential in the assets perhaps they will snap them up and then bring home the deal which current management have failed to deliver. Not saying it will go that way but MTR are on the lookout for some bargains.
Is this now one such bargain?
Not sure that your opening statement is altogether accurate simms. B2 are now Calibres largest shareholder with over 28%, so they haven't quite washed their hands of the Nicaraguan assets.
Let's see what happens now.
RothRock I aren't sure that Mark intends building or operating a mine by himself, I suspect that he is bright enough to harness the expertise and experience of others.
Starting off with a smaller second-hand mill would slash the cost of getting us into production/cash flow. Centamin started off with second-hand kit. Let me think now, who could possibly help us in that department? How about our new shareholder? I don't think that he invested his money here just for kicks, I suspected that he wants a healthy return.
You seem fixed on the idea of 120million and how we are going to raise such a large sum. A flexible creative thinker will be able to come up with several possible options to unlock value from this project.
Is MC that man? Time will tell.
Thanks for posting the link goneawol. A very tantalizing interview, I can't help but feel that he knows much more than he is able to say. The toll refining story hasn't gone away which is very encouraging. I am much uplifted by his mention of B2 and Calibre, could that be a nod and a wink to the longsuffering share holders? Would he want to keep raking over that if it could be seen as a failure? Wouldn't he rather quietly push it into the past? Perhaps the matter is still very much ongoing!
I don't know of any gold mine that kicks off with mine life of a gazillion years. Drilling and proving up resources costs money, a lot of money, so eventually the board have to decide that they have enough to get rolling. Once producing and we have cash flow we can then drill to extend mine life.
If my memory serves me right Nyota spent 40/60 million USD proving up this resource and it broke them. I also recall that there is lots more gold at depth, time will tell.
I know that just one good drill hole doesn't make a mine, but this must qualify as a very promising start!
5.0m @ 9.8% Cu, 3.2g/t Au, 34g/t Ag & 3.1% Zn from 50m
Mtr is starting to fill me with a warm glow.
Most of you have probably heard this but for those who haven't.
https://www.proactiveinvestors.co.uk/companies/news/901652/hot-gold-corridor-and-ops-update-from-ariana-resources-901652.html
Apologies if already posted
I totally agree Wondergoals and was thinking the very same thing about a week ago. With that in mind I emailed MC to ask if the NDA was still in place to cover any ongoing discussions. As he has mentioned it several times during interviews I felt that an update was due and as it was in the public arena I couldn't see a reason for him not telling me one way or the other.
Silence, no reply.
I see that as, firstly, very rude and more significantly as a bad sign. I think that if it was still in place he would have told me in a reply, as he hasn't replied I can't help but believe that talks are over. If talks are over then I wonder if any progress is actually being made?
More than happy to be way off the mark (no pun intended).
I do hope that you don't have lots of stupid associates who are going to descend on the board and like you spout nonsense in an attempt to drive down the price.
Boring!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!