Strike Length of 40kms !18 Nov 2019 07:40
Strike Length of 40kms !
"At Volchetundra, new trenching work has now identified ore grades of 0.7 grams
per tonne (g/t) of PGMs over a thickness of 10 metres, and 4.7g/t of platinum,
4.6g/t of palladium and 2g/t of gold over a thickness of 2.6 metres. The area
covers a major intrusion with a strike length of 40 kilometres."
Does that mean what I think it means?
To put the above into perspective, the 40kms strike length, is roughly the distance between central London and Sevenoaks and is only one small part of the flanks area alone. You would do well to walk along the entire length of the strike length in eight hours. Imagine the scale and value of an ordinary, common or garden, open-pit coal mining operation that’s coal seam started in say Trafalgar Square and stretched unbroken, half-way up Sevenoaks High Street (outside M&S on the left!). Now imagine how much that would be worth if it was a gold mine. Now imagine it again as a palladium mine, with palladium 15 times rarer than platinum and 30 times rarer than gold and worth nearly $1800 per ounce, with no prospect of demand abating.
Finally, try imagining it was also the last known non-consolidated palladium play, world class, of strategic importance, that two super powers both want/need (before you even consider anyone else putting in a bid) and also that the two respective countries largest investment banks were working to expedite a sale on a no win, no fee, basis. (Actually, that last bit you don’t have to imagine, that’s true, anyway that’s enough imagining, you get the idea.)
Incidentally, Sevenoaks is where a gas company that many once invested in, is based, (in at 9p, luckily out at just over 60p…phew!) that once achieved a market cap of nearly a £1billion on not a lot (as it turned out). The market cap of Eurasia is currently less that one tenth of that so a ten bagger from here, in my mind, should be ‘odds on’ with what they have, proved, indicated and inferred thanks to Anglo American over many years and all the historical data available over the area.
That also ignores the fact that Eurasia has no debt, a bit of cash and is actually producing from West Kytlim and making money – that must be worth another few bob.
I’ve been in and out of here for a long, long time, first investment during the Andrew Counsell days and have never made a bean; always thought it looked a great prospect though.
Currently with an average of about .75p and looking for 30p minimum – that bit is easy.
What is the maximum ?
IMHO & DYOR
GLA
Ps. The market cap of M&S is a round £3.5billion (?)…lol!
Pps. Also, 2019 is the 50th anniversary of the Poseidon story. (I posted about it 27th October) Nickel then, Palladium now? Who says “lightning never strikes twice”?
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