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Screen learner, this conundrum is why the LTH see cashflow from the African assets as key to self funding the drilling of BR without excessive dilution, to tie it back into another long running debate lol.
I found it really interesting to hear Colin talk about the company he sold up. He posted a circular to every head of exploration that he knew and got zero interest until one company made an offer and then they all wanted in. Could independent valuation also = other offers, even if AA decide to exercise their option?
I am in favour of letting Colin worry about that. In all the interviews I have heard , and from multiple members of the team, they more or less align with trigger the 2MT and see what AA want to do. Would be nice to know more as PIs but I trust Colin to do what's best for us as shareholders. It could weaken the deal or negotiation if other parties were allowed to know the Commercially sensitive details prematurely.
Only just managed to catch up with the weekday roast lol!! Well the misses told me to start listening to podcasts.
So who's joining Colin for a Vindaloo in London for the AGM ?
Let's hope when they present the updated model they manage to get it out to a wider audience than just us anoraks on the bulletin board !
Remember Colin also said in an earlier podcast we may even start infill. Could be thinking a small amount of infill in the centre of the pit would be value add ? the target is to feed enough data points into a sensible independent valuation, I wonder if all the effort and excitement about validating the various geophiz data is because they can / intend to use it for the valuation, saving lots of time and money by reducing the number of holes ?
Lucky I recall reading RNS from an AUS co, may have been Caravel, they have been able to successfully use a mix of diamond and RC drilling for infill and reduce the overall costs. really only see us doing any significant infill drilling if we end up in a JV and Colin decides Xtract lead the drilling to keep control of the schedule.
One thing consistently stands out from looking over other boards where the co market cap increased by multiples, is the comments from LTH about how fortunate they were they could buy for so cheap for so long before the market caught on. It's one of the few real benefits we get as PIs over the big boys, against a system that is stacked in their favour i.e. we aren't constrained by some charter that prevents investment unless a co is of certain cap or with a JORC of measured or, or, or. Soak it up and enjoy what seem to be bargain prices !
It's another set of unknowns to us PIs, would AA insist on a JORC of measured status or be happy with inferred, for a commercial transaction, noting that these types of deposits are renowned for their consistency ?
Measured means infill drilling and me and Howezap exchanged posts a while back on what hole spacing could be used, but ultimately it's determined by the deposit type and the professionalism of the responsible Geo to decide.
Ella, re gold I think they are / have been looking for it. I don't remember a visual description of the now confirmed gold bearing structure in the end of hole RNS (haven't gone back and checked) perhaps to limit expectations ?
Iceberg, I remember noting in a chat about a couple of the holes that carried on past visual chalcopyrite and I mused that perhaps they were looking for but missed the eastern zone of the ore body. I guess we know what they were looking for now !