scarpa, Straight up I’ll show my cards in saying I don’t mind your posts. Generally you seem to try to take the time to validate the views you have and I will say I appreciate that. I’m always happy to take onboard foreign points/ ideas so thanks for posting even when I don’t agree.
I’ll try to speak to you I regards to post #: 47678841
your first points 1-4 in this post can be summarized as the following:
I watched a video from barrack from years ago, apologies I don’t have the link, I have been smashing through content at a quick rate and forget to save items of note.
barricks plan possibly from approx 10 years ago (that’s a guess, again sorry but I could re-find what I watched/ read) was to try and move towards what they class tier 1(500k oz/pa) and their 2(apologies again, either 250k or 200k oz - can’t remember which)mines. This was the game plan the company moved off.
now, to fit the bill of tier one, Morila would have to produce well over 1billion oz per year(Mali stake + Anglo)... even tier 2 was well over 400k + a year.
since this article, Barrick has expanded exponentially and now only focus on tier 1 products (Morila 1billion plus oz per year)
your next points as followed:
1. Outside the Morila pit/ tailings/stockpiles itself, personally I view the satellite pits as worthwhile.
BGS slapped a 400k ozs over pits ntolia, viper and kitting. Currently, 70k odd OSHA’s been minded from said tenements. I’ve said this multiple times before, I have found koting to always been the pit of most substance as it is the only pit old management dared to say the was gold at depth... not just on top.
I had a read though all gold related announcements since the days of eagle eye recently. Really important holders dig through the archives and look at the work done from years pervious. There is so much dug gold around Ntolia that have returned very decent results... results that on there own, would you build a mine? No probably not. But when a haul road exists to an existing pit... absolutely. I’ll throw a number out there, I’m estimating a Conservative further 500k+ Oz from ntolia, viper extensions, nearby small satellite pits (and by nearby I’m saying next door aka ntolia south etc), and koting.
2. I think your asking Can we use Barricks previous drilling results to predict future earnings. Morila pit is a gamble, no doubt. Given the effort/cost Barrick/Anglo would have had to go to attempting to increase the pit to, by their standard, neither tier 1 or 2 levels... absolutely.
Barrick was following a closure plan that had been extended from I believe 2014? Look at their other projects. They leave Morila in their shadow. Morila though still has life and game changing characteristics to a small time explorer like MLLas been discussed constantly. No point in me going into that, it’s basic economics.
3. Well your point 3 is the same as your point 1. Prospects are huge for the satellite pits. My personal belief is the mine would have been profitable to buy minus the morila pit. domba apparently has pslossible expansion. As stated through announcements, high chance of other deposits surrounding the plant.
I think this has been discussed since you posted this post but since you make reference, I will revisit briefly, “MLL needs the tailing and what reserves Morila has left to keep the plant operational and making profits for two to three years before transitioning to its own MLL Ore from its own tenements” - wrong! Wrong wrong! I understand you not having access to the AGM but ur missing what has been said over and over. Tailings into Satellite pits. Quick transition. Roads built. Things ready to go.
Morila pit being drained /drilled in the background. Huge upside from that pit. Price of gold has changed so much since it was last drilled and explored.
Personally, I feel 2 billion oz is a lick of the tenements owned by MLL now. so much upside, crazy not to see it.
(I refuse to re read so sorry if any of that doesn’t make sense)
1 week till FFX is a gold producer.
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