Some dinner time ... or post dinner time reading ....
.. pull out the pipe or send the kiddies to bed ... depending on your lifestyle ...
... and hopefully SEG can change all of our lifestyles soon ...
more bits from the Proactive Investors meeting in Melbourne ....
a pic of Steven Michael about to deliver the 'good oil' on Segue ...
.. a fair few follicaly challenged heads making it difficult to get a good shot ....
with the white balance being offset by the grey hair .....
... some things to follow ... in no particular order of importance ...
... and the accuracy is reasonably close as I am recalling discussions with Steven Michael ...
... but things that some may find interesting ... because I know I'd like to know as much as I can about my investment in SEG ...
... The current drilling site is ....
... drive 260 km from Kalgoorlie along the major railway line road ... turn right .... and go another 260 km off road and you' ll reach C1 drill site ... takes only about 6 hours !
.. the blokes who are on the drilling rigs ... live on site ( obviously ) ... but I did ask
.... The current drilling is only on single shifts ... one shift per day ...because of the need to cart Bore water to cool the diamond drilling ....
... the SEG bore is approx. 100 km away ...
... the bore for SEG was ' already there ' on their tenement from previous exploration activities ... and SEG found it fully functional ... a great money ... and time saver ..
... the previous tenement holders were mineral sand miners ...and SEG picked these up quite cheaply and efficiently ... and hence the large tenement holding of Segue .... with only minimal interest from other JV interests .. if any at all
... they even found a fully operational a 4o ft container full of mining equipment ... computers ... and other valuable gear ... from an abandoned previous tenement holder ... another value add ... SEG use this ...
... interestingly ... 2 of the directors of SEG ... are both ex Sirius ... part of the intial 4 directors of Sirius who discovered Bollinger Nova .....
... Peter Langworthy ( ex Jubilee Mines )could take SEG from exploring to development ... but SEG is a ' grass roots ' explorer and would change somewhat if it went through to development ....
A question was posed by an audience participant on timing and and indication of cost to target and develop a resource at 650 m ... which was answered ... the only difference in the cost with this and the Nova Bollinger resources is the cost of developing the decline ... the target currently being targeted is down at 650 m ... but the conductor could be higher than that ...
... cost of a decline is approx. $2000 per lineal meter ... which would be abut $6 million .. ( Steven later corrected this at discussion time to approx $ 4million ) .....
... and at $ 6 million ... but on a Nova Bollinger type of discovery valued at $2 + billion of revenue Nova ... this additional cost ...
would be insignificant ...
... I asked the question at question time ... what price would you put SEG if there was a ' Bollinger type discovery made at C21 ' ... and with out hesitation Steven replied Segue with a current $25 million market cap ... upon discovery ..." 50 c " a share ... ( $0.50 for the more accountant types of readers ) ...
.... it took a while for the investment market some time to realise what Sirius had ... and now that the market realises what is there with the next ' Sirius' type of discovery ... the next discovery will have a much quiker upside ...
... the difference is that the Fraser range at the moment has only one deposit ... and the next discovery will
confirm this area ... and will be the time when a or the ' majors' will come in and be able to say this is a 'Province ' ... which is what companies have been talking about comparisons with Raglan and Thomson ..
... if Segue make the next discovery .... it opens up the best part of 200 km of prospectivity .... from North to South ...
.. Vale are the first
major to set up tenements in the Fraser Range ....
( google 'Vale' ... if you dont know who they are ) ... which Steven says it is somewhat surprising ... to take such a long time for a major to move in ... but they will most likely only be interested in the Fraser Ranges if it is a
belt ... rather than a ' one off discovery '......
... and time to head off to dinner ... and somea nice bottle ... Cheers to all the Segue shareholders ...
... and remember if your not holding SEG ... you may just miss out ... none of this ' Should have ... would have .. if only .. ..
Cheers
Philbar
met wacket at the Seminar ...
.. hey Wackett ... did anyone ever say you had a remarkable resemblance to my mate George Cooney ?
..
(20min delay)