HVY 1.64% 6.2¢ heavy minerals limited

Very strong resource estimate! Tonnage lower than expected (...

  1. 474 Posts.
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    Very strong resource estimate! Tonnage lower than expected ( 135mt not 250mt ) but the garnet grade doubling ( from expected 46% to 90% ) is way above expectations! I hoped we could define some higher grade areas in our jorc and with more drilling cherry pick these areas into production. But even then i didn't think 90% would be achievable. Amazing really. Even more when we consider that we have ~4% ilmenite and a bit rutile also that could be ( if economic ) processed to a heavy mineral concentrate. To define such a big jorc after such a small and cheap drilling program is a very strong point considering there is not much dilution in this regard. I think we don't need more than 3 another drilling programs of this size to have a minelife of 50 years and enough reserves for bfs and finance. Thats not even $10m for drilling. But i for one hope for an aggressive exploration given our gigantic landholding here. Drill the shit out asap and show we are ( if the stars align ) the new boss on the block. Like i said, it's too cheap not to! Maybe we can find some areas that exceed our 4% THM. That our jorc is smaller than i tought is absolutely no concern for me given our style of mineralisation ( it's just sand lying there ). That we have the same people on board that produced the Scoping Study for RDG is also extremely reassuring given they surely learned "a fair bit" in this process. Expect to grind steadily higher from this very low mcap. $20m - $30m should be the right range for now so a doubling would be very healthy. A last word for me: it's really extremely annoying what you post about the share price manipulation @ damaguete. Even if 100% of that was true, your constant dribble is ruining this threads here significantly. But not less annoying are post's that always comment this with "crybaby" posts etc. You might not be hurting the shareprice but the discussion about the fundamentals of the company. Look what the post's are here now are about? Not that great achievement of our company unfortunately. It's a negative spin that spins and spins and if people are too annoyed to read here about the co they might even not invest. It's a shame because i like to read your posts about the fundamentals here
    Last edited by Woodpekker: 02/05/22
 
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