Ann: Binding Term Sheet Executed for Lorena Project Acquisition, page-16

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T2Bigdog

158 Posts.

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20/06/22

17:23

Post #: 62097973
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Originally posted by sydneyguy: ↑

I am wondering what they are mining

they are referring to a resource in pressos for the complex dated March 2021- which is 113 k of indicated and inferred resource

what’s the reserve?

surely Not out blowing things up again and mining as per shssssh social media posts—surely it has a mining plan - a confirmed reserve

Most people take a resource and turn it into a reserve - those that don’t and just go mining without a plan usually run into trouble - I don’t see many companies promoting production off a resource total - don’t see many companies r and r. Where the resource equals a reserve- those that do usually wind up in trouble

Apart from That- with current cash balance - less obligations- is that enough money to get the new old plant up and running- pay all the wages- costs for processing ? And heft directors feeeeees?

you mine a reserve not a resource- I can’t see one on paper but maybe you can point me to an official jorc reserve for the complex -

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I’ll have to read up on this some more but at a glance it seems pretty wild to buy a mil for $8M before proving up at Mt Freda.

I held them previously and may again in the future. The reason I’m not holding now is because I can’t see a plan.

Interesting that the day before halt, we have a 25 % intraday swing with an open/close settle. It’s either extremely bullish or bearish, no idea.

TBA Price at posting: 5.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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