Ann: RIU Explorers 2024 Presentation, page-6

First 6 Last

Share
Profile

Follow
Spingold

29 Posts.

4

13/02/24

19:36

Post #: 72389105
Share

Originally posted by joedirt23: ↑

Yeah there is. And it's not TE, it's Timor-Leste.
The last slide has these two points:
- Offer from ANM accepted for 6 Concessions totaling 294sqkm prospective forcopper/gold
- Term Sheet for Murak Rai (Government entity) to retain 20% free carriedinterest to final feasibility well advanced

The first is saying we've got 6 tenements from the ANM (Timor-Leste's mineral department basically).
The second is saying that we're nearing agreements on the FCI. Once this is finalised, I imagine we can go drilling! This is what I'm most excited about.

But yeah, these presentations don't go into too much detail and they don't give too much away when they speak (McGarry skimmed over most things today) because they can't announce anything not already released in announcements.

My take on the Presentation
I'm not sure why we're only spending $2M on exploration in FY24 though. We have a lot of money now, so wouldn't it be wise to explore every tenement we have over the next 12 months, increase our Reserves to 10+ years or whatever we get to, then we know exactly what's in the ground so we can then plan for increases in production (to 50koz/year or even beyond that depending how good exploration is).
But with exploring bits by bits every year, it doesn't save any money, it just delays the costs to a later date and we are stuck with the same small Reserves and not knowing what's to come.
If we keep thinking small, we'll only ever be small.

Yes it may require us to hire a couple more employees, but I think most shareholders would rather bring forward costs and pay some geo's, admin etc to aid exploration, analysis of data, etc. than wait another 3 years until we continue exploring all our tenements and hence remain at the small little 30koz/year for the foreseeable future.

I'm sure there's reasons for the slow approach, but to me it seems a cost-cutting exercise, but it's at the cost of shareholder returns because the share price is lacking.

Something big needs to be done soon by management, because 2.2c is a joke considering the amount of gold and potential exploration we've got. At what stage do we realise that what we're doing isn't working?

Expand

I Stand Geographically corrected.....
I thought I have seen it written Timor L'Este....
learn something everyday.....

BCN Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

KGL

KGL hits copper-silver-gold-zinc-lead massive sulphide intersection in NT

BOE

$550 million Jabiluka uranium offer comes unstuck as Government rules lease won't be renewed

IDA

Indiana Resources to win US$90M from Tanzania following international lawsuit

BIO

Biome unveils three year revenue target up to $85M – but are 3Y targets enough to excite?

BC8

Black Cat Syndicate one pour away from being rerated as producer

There are more pages in this discussion • 36 more messages in this thread...

First 6 Last

Add BCN (ASX) to my watchlist

(20min delay)
Last 2.4¢		Change -0.001(4.00%)		Mkt cap ! $90.16M

Open	High	Low	Value	Volume
2.4¢	2.4¢	2.4¢	$91.16K	3.798M

Buyers (Bids)

No.	Vol.	Price($)
7	1125200	2.3¢

Sellers (Offers)

Price($)	Vol.	No.
2.5¢	1760638	4

View Market Depth

No.	Vol.	Price($)
7	1125200	0.023
5	1715000	0.022
4	508443	0.021
5	905000	0.020
1	30000	0.019

Price($)	Vol.	No.
0.025	1801947	5
0.026	825000	3
0.027	961824	4
0.028	7772231	4
0.029	2630433	7

Last trade - 10.56am 29/07/2024 (20 minute delay)

BCN (ASX) Chart

Ann: RIU Explorers 2024 Presentation, page-6

KGL hits copper-silver-gold-zinc-lead massive sulphide intersection in NT

$550 million Jabiluka uranium offer comes unstuck as Government rules lease won't be renewed

Indiana Resources to win US$90M from Tanzania following international lawsuit

Biome unveils three year revenue target up to $85M – but are 3Y targets enough to excite?

Black Cat Syndicate one pour away from being rerated as producer

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: RIU Explorers 2024 Presentation, page-6

Top Stories

KGL hits copper-silver-gold-zinc-lead massive sulphide intersection in NT

$550 million Jabiluka uranium offer comes unstuck as Government rules lease won't be renewed

Indiana Resources to win US$90M from Tanzania following international lawsuit

Biome unveils three year revenue target up to $85M – but are 3Y targets enough to excite?

Black Cat Syndicate one pour away from being rerated as producer

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News