Ok so I promised the holders here I would put up most of my research on Mt Dimer on why I feel it has amazing potential. I will be providing links and images to support my theory. I am condensing this as much as I can. there is a lot on info! so please be patient if I make some errors.
@Gollada as promised
I request that holders here have a civil discussion on the information provided as my main reason for posting this info is to allow ppl to make up their own minds.
Please DYOR and all this is IMO. None of this is financial advice.
I start first with the announcement on the Dimer acquisition
The main issue I faced with this initially as im sure as did other holders was to locate the exact geographical location of our acquisition as it had been mentioned that Mt Dimer used to be an active mine with only close to 8.5k ounces mined before it was shut down.
link:
https://hotcopper.com.au/threads/ann-option-to-acquire-exciting-gold-projects-and-placement.5618801/Naturally like many holders here I tried doing my research on the OZ Gold group to find out more about the projects.
unfortunately with so many headlines titled Oz Gold for anything and everything with the Australian Gold sector for every 1 useful fact I found, I found 20 more things that were useless to my research.
while doing this research I came across this link :
https://www.mindat.org/loc-248771.html I recommend holders read this as it gives a detailed explanation of how mineralisation occurs
and one paragraph particularly stood out to me in my reading of this:
Located in the southern portion of the variously named Marda or Diemals-Marda or Marda-Diemals Greenstone Belt. Exploration by Western Mining Corporation in the late 1980's identified a lateritic with underlying quartz vein gold resource here. The tenements were sold to Glengold Holdings Pty Ltd in 1993 who identified three quartz vein lode systems beneath the laterite. In 1994 the tenements were sold to Tectonic Resources NL who developed the L1 and L2 open pits and underground mines beneath the pits, as well as discovering several satellite deposits called Golden Slipper, Karli West and Frodo. Mining was conducted between 1990 to 1997, producing 639 790 tonnes at 6.5 g/t gold with 133 000oz gold and 183 000 oz silver produced. The majority (83%) of this was from the L1 and L2 mines.(this last line is imp ill explain later)
naturally this led me to be a bit puzzled initially as our project had only produced 8.5k oz so I decided to do a bit more research on the western mining corporation and GlenGold Holdings.
Another paragraph on the same report mentioned specific pit names like Frodo and Golden Slipper so that led me to a Q&A by Gold Iron resources:
https://www.weare121.com/121mininginvestment-hk/clients/golden-iron-resources/Here the Chief executive director Mark mentions his company owning a Mt Dimer project and there not being any exploration drilling since the 1980's this is similar to the report to the western mining corp and glen gold report I found. previous mine, infrastructure in place, etc
He further goes to mention that specifically for Dimer there is a massive exploration upside and his company has a exploration target of 650,000 oz at an average of 5.9g/t.Now for newbies in the exploration game this is a massive statement because most CEO's dont like over promising and under delivering its safer to have a conservative estimate and then over deliver. builds to the excitement.
Aurumin also gave an exact timeline of how quickly they want to mine. this is important as well
Gold Iron Resources is now of course listed as AURUMIN LIMITED. website:
https://aurumin.com.au(ASX: AUN)
We know from them the company that mined Dimer was Tectonic resources between 1994 -1997 for 125k oz. (imp 2)
the images and company reports were really interesting to read for both Aurumin and Tectonic resources.
Supposedly the company had an initial target of 300k oz (see Aurumin announcements also vector resources and tectonic) for all of Dimer out of which according to historical reports they mined 133.5k (tectonic)
Seeing this I can make the assumption that the target was so low previously and is so high now (according to Aurumin) is the lack of technology that's available to us now.
Remember Aurumin has now increased its target to 650k oz.
We can also confirm with news articles from the time that the mine was indeed closed and forgotten due to the crash of gold price by nearly 70%
A major question that now arose is the difference between Aurumins holding and our holding as well as the location and potential.
The following is my belief and IMO please do not take any of this as facts as I am a monkey with a laptop:AURUMIN holds the already mined 83% pits(as mentioned above) as according to their own reports the mine they hold had produced 125k oz which naturally leads me to believe we hold the remaining existing pit that mined 8.5k oz that was part of the initial resource of 300k oz of gold.
(Mind you AUN has increased its exploration target to 650k oz)
Historical intercepts mentioned in our first announcement match Aurumins results
TSC:
https://hotcopper.com.au/threads/ann-option-to-acquire-exciting-gold-projects-and-placement.5618801/AUN :
https://aurumin.com.au/projects/mt-dimer-project/With all these factors in play even if we take Tectonic resources target of 300k oz as the upper ceiling while completely disregarding AUN's announcements and divide the target equally between the 4 pits L1-L4
my best guess is we are sitting close to 75k to 100k oz or gold at the open pit( this is without putting any new exploration information in place) that is ready to mine.
the Perth Mint is currently buying gold at 2293/oz.
https://www.perthmint.com/metalprices.aspxeven at 2293 x 75000 oz = 171,975,000
as an explorer until we actually mine I usually value the company at 15% but since we have an open pit and other infrastructure in place thereby allowing us to pour quickly(also mentioned in Aurumin timeline) im valuing this at 25% which is 3.5x our current value.
this is without again any new drilling data or exploration taking place and only based on our MT Dimer project alone.
So holders can see why im extremely excited about TSC's prospects
AGAIN ALL THIS IS IMO PLEASE DO YOUR OWN RESEARCH! THIS IS NOT INVESTMENT OR FINANCIAL ADVICE LET ME BE CLEAR YOU SHOULD ALWAYS DYOR ON ANY INVESTMENT.
AGAIN IM A MONKEY WITH A LAPTOP
I'm attaching additional links that will aid in your own research there are some paid reports so you decide if you want them:
https://hotcopper.com.au/asx/aun/announcements/https://www.mindat.org/loc-248771.htmlhttps://www.mindat.org/loc-147002.htmlhttps://www.mindat.org/loc-266847.htmlhttps://www.weare121.com/121mininginvestment-hk/clients/golden-iron-resources/https://www.woodmac.com/reports/metals-mount-dimer-closed-gold-mine-16140675http://media.abnnewswire.net/media/en/docs/69289-ASX-VEC-554938.pdfHope this helps