Originally posted by ddzx
thanks. as for 4.7 g/t head grade, it is a pointless investment since it only comes to $4M in cash for LNY. why would anyone invest in a $25M market cap company that is going to make $4M from its main project? regards
Have you both considered the (outstanding) results detailed in these two recent reports when doing your sums and what that means to,
at least, that first 100,000 tonnes???
31 December QR. Announced 1 February 2019.
✚ The drilling program conducted over the Sherwood Deposit during November 2018, of 1,314m (51 hole) RC drilling,
has confirmed the high-grade nature of the Sherwood Deposit and
highlighted the broader potential of the Agate Creek project which i
ncludes an Indicated and Inferred Mineral Resource containing currently outlined. 381,000 oz of Gold at 1.4 g/t
✚ The results of the drilling program
highlight the high-grade core of the planned mining area with consistent high-grade zones identified with several individual assays exceeding 100 g/t gold and assays up to 564 g/t gold. 5m @ 148 g/t ••
CCGC019 – 3.0m @ 32.81 g/t
• CCGC030 – 5.0m @ 12.86 g/t
• CCGC031 – 2.0m @ 68.51 g/t including 0.5m @ 250 g/t
• CCGC032 – 1.5m @ 50.37 g/t including 0.5m @ 106 g/t
• CCGC033 – 1.5m @ 56.45 g/t including 0.5m @ 148 g/t
• CCGC043 – 4.5m @ 91.70 g/t including 0.5 m @ 564 g/t & 0.5m @ 157 g/t
• CCGC044 – 5.0m @ 27.94 g/t
• CCGC056 – 3.5m @ 19.24 g/t – 4.5m @ 91.70 g/t including 0.5 m @ 564 g/t & 0.5m @ 157 g/t
• CCGC044 – 5.0m @ 27.94 g/t
• CCGC056 – 3.5m @ 19.24 g/t
✚ The drilling program met its initial
objective of improving the geological confidence of the high grade deposit planned to be initially mined once the Mining Lease is granted.
Additionally, the drilling
provideda strong basis for further exploration with a target of adding to the high grade inventory over the course of 2019 following the initial mining campaign.
ASX ANNOUNCEMENT 14th January 2019
Outstanding High Grade Drilling Results at Agate Creek Gold Project Highlights:
✚ Laneway achieves another significant milestone as it progresses towards commercial extraction of high-grade gold material from its 100% owned Agate Creek Gold Project with the receipt of outstanding high grade results from the recently completed 1,314m (51 hole) RC drilling program at the Sherwood Deposit.
✚ Numerous and consistent high-grade intersections encountered with several intersections exceeding 100 g/t gold and grades of up to 564 g/t gold.
✚
The objective of the drilling program was to improve the geological confidence of the high grade deposit that is planned to be initially mined once the Mining Lease is granted.
✚ Results confirm the high-grade nature of the Sherwood Deposit and
highlight the broader potential of the Agate Creek project which includes an Indicated and Inferred Mineral Resource containing 381,000 oz of Gold at 1.4 g/t currently outlined.
There's STILL
at least 381,000 ounces of gold, plus, plus, plus.
The consideration most relevant is how much of that can be actually processed and how quickly, NOT, how much is each individual run.
The Black Jack Plant can now do 340,000 tonnes p.a. and that's just from that plant and there are 8 million tonnes in that Agate Creek JORC. I would have thaought that that would be a very attractive prospect for a new private company who paid $30 million for Black Jack and the surrounding tenements.
Number of runs not grade per run, albeit, for the first run,LNY has reasonably been prepared to allow Maroon to at least fully and safely cover their initial costs, but, I'd bet that if all worked properly, there will be very different terms in future agreements, which might not even be with Maroon. Maroon in particular, has most to lose by not reaching equitable targets for both companies, the gold will still be in the ground for LNY to look elsewhere if necessary.
Happy to see the ACTUAL numbers from that 100,000 tonnes before condemning Agate Creek that you two have seemed to have done based on assumptions. Let's see how much GOLD they
actually extract!! Come back in July 2019 after we've SEEN those REAL numbers and we'll have another chat based upon FACTS. You guys are condemning a team before the season's even started. You don't pass the pub test for mine. Nice try.
, and I am even considering taking a small position in them, but the thing is with this is that you need to be in before the production statistics start coming in, because if this does go into production the share price might respond (although sometimes the market can be inattentive and slow to respond in the junior sector due to the negative sentiment around at the moment).
(20min delay)