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This drilling in different directions is to establish the dip (perpendicular to main structural orientation) versus strike (parallel to main structural orientation). Vein emplacement would have been controlled by structural stresses at time of emplacement. The Geos will use the early drill data to work out the direction of those stresses and resulting veins, and aim for an optimum dip direction for drilled holes to (hopefully) intersect as many veins as possible.
The 16:27 trade for 100,000 shares is listed as a "Sell" but is most definitely a BUY, by me.
That's my weekend gargle blaster and movie ticket money gone. The missus will have mixed feelings :-)
RNS tomorrow?
Very convincing sales pitch for Looner Mining , Steven, although l confess l thought l was reading a Poor Venereal disease sufferer posting tbh! Lol
I invested here because the risk reward profile was relatively better than most explorers, due to the Anza jv. And that was at 20p which l considered a bargain price at the time. I never expected to see the 10p area, thats for sure.
I think the share price suppression was caused as much by lack of news as anything else. Hopefully Brad will be more communicative now the Argentina JV is reaching a conclusion.
The Argentina acreage looks to be a diamond in the rough, if that isn't too much of a pun. Late stage basaltic cover would interfere with field and aero-survey, but observed swarms of gold bearing qz veins might be a clue. To quote the RNS
"The Project is almost completely dominated by Jurassic volcanic rocks that are known to be the primary host of gold and silver mineralisation across the Massif. Much of the area, however, is covered by late basalts, which when coupled with the Project's remote location has possibly contributed to a lower level of historical exploration that might otherwise have been expected given its attractive geology.
Preliminary field inspections undertaken by the Company's geological team have noted large erosional windows within the basalt cover that have exposed extensive areas of prospective volcanics, swarms of gold bearing quartz veins and areas of pervasive silicification all within a major SE-NW regional structure that is clearly evident on regional government airborne magnetic data."
I agree, Andrew. You would think that moving to production and sales at a mine was RNSable news, wouldn't you?
Maybe Colin has a big announcement this week.
Apart from a billion dollar sale of Bushranger that is. One lives in hope.
Well, they have maintained a level of reserves replacement . The lower grades should be offset by greater efficiencies and exploration will continue, paid for out of a small portion of gold production, so am confident the LOM will extend beyond 5 years. Debt will continue to be paid down so have no doubt we will get dividends at some point :-)
Good morning all. Just dropping in after some time, but glad to see some excellent research and discussion here from the regulars. Well noted by irishmouse that Paul Forrest has just been appointed as Finance Director of AAOG as recorded by Companies House. That certainly indicates that the game is afoot.
What the game is, I think we will find out in 2022. For those of us who suspect that Forrest has Russian connections and backers, the current shenanigans of the USA and Britain in terms of poking at Russia may have some impact. Most recently is Biden's laughable asssertion that he could stop the NordStream2, as if Germany has no spine to stand up for its best interests. Anyway, I am sorry for the Ukrainians who are the latest pawns in US neocon geopolitics (see how well that turned out for Yugoslavia, Libya, Afghanistan, Syria and anywhere else that NATO has been "helping" under the guidance of the psychos in Washington). Let's hope that the useless Biden, Bojo and co do not "help" Ukraine any more than they have already. I have no doubt Ukraine would still have Crimea if the US has not "helped" them back in 2014. IMHO
Thanks for sharing the Induced Polarisation Electrical Resistivity Map howezap. Newbies - look it up!
The North-South low resistivity strip (reds) almost coincident with the outline of the original Racecourse Inferred Mineral Resource, now ground-truthed for mineralisation by several more holes in our campaign.
And then those two rather large red blobs of low resistivity to the south and east. The eastern one now tagged as a new porphyry deposit Ascot. Compare its IP signature to Racecourse.
Gargleblasters all round. But only one - they are rather potent.
I normally don't like pointing fingers but do want to say something about the Earl of AIm's deramping posts today.
Unfortunately the bonanza grades he likes are the ones over at Oriole Resources (ORR) in yesterday's ORR RNS "bonanza (gold) intersection of 1.10m grading 36.06 g/t Au (bonanza grade being defined as being equal to or greater than 31.10 g/t Au, therefore 1 troy ounce per tonne)."
Yep, that's 1.1 m interesection. Amazing. Totally different geology.
So why's he over here moaning about grades?
Just for transparency, I also hold ORR. Oriole is very well priced at the mo and has good future exploration prospects in central Cameroon, and at 7 m mcap it's underpriced. BUT its an early exploration co - it's no XTRACT which has at least 2 porphyry discoveries in Australia, and gold production in Africa.
Am guessing with Han**** iron ore :-)
A good run of news from UFO.
Donovan 2 has the potential for some serious upside seeing the way the copper market demand projections are.
Fosters 100. I get you.
No SXX please, we're English! :-)
Gargleblasters all round.
Xtr dividends no. placements yes.
Glad to see slow steady rise, and consolidation around 7 p. Next resistance from TA is from 8.4-9 p so hopefully up she goes till then. Softly softly catchy monkey.....
Thankyou for your replies on this thread Joeman, andym, howezap. I made a point about Anglos behaviour at Sirius Minerals to show they can be ruthless, but they did pony up $400 million there, and they are more cashed up now. XTR is also much better positioned, l agree, with African gold production. Colin is a wily bugger too, no doubt!
The drill data and assays may be being kept back, because as well as building their own model, XTR may have already opened up a data room for Anglo, at least over the open pit proposal area. We may not be privy to such matters but may only be told when there's an offer on the books. However, my personal view is that we should prove up as much as we can this year and sell next year, as copper is only going one way over the next decade as the exploration pipeline is thin for big projects. But doubt Colin will listen to me!
A billion pound buyout would do me nicely, and put some of the folks here into early retirement I am sure. However, after the stunt Anglo America pulled at Sirius Minerals, buying it for a pittance with the connivance of the Sirius Management and their buddies at JPMorgan, I can tell you they aren't boy scouts and are not above some skullduggery. They will not be paying any more than they have to, and they have plenty of experience sticking it to elderly Yorkshiremen.
Of course, I think Newcrest is the natural buyer here, if it werent for the pre-existing agreement with Anglo. Not to mention the Chinese Communist Party entity.
The French pharmaceutical company, MaaT Pharma, has announced positive data showing the effectiveness of their microbiome therapy for cancer patients. Feb 4 2022. Some fun reading while waiting for DDDD to bounce.
https://www.labroots.com/trending/drug-discovery-and-development/22193/microbiome-based-therapy-cancer-patients-step-closer-approval-2
So as well as having silver at surface at EH, we also have heaps of iron barely below the surface.
Nice news to end the week on, and sounds like BBG has the foot on the gas in order to get Han**** monetized asap.
Pan galactic gargle blasters all round and good luck with the hangovers!
Exactly ROCKZ. Highly odd behavior.