Hi All,Here is an important update to the 'Barrick' thread. The...

Hi All,

Here is an important update to the 'Barrick' thread. The latest Barrick quarterly was 1 month ago, and includes some very interesting details.

Here is the key slide from the powerpoint:




It is interesting that Kabewest is so close to Chesser's Diamba Sud property. I will repost an image from the last update, now including my guess on where Kabewest is located:




Here is the relevant section of the transcript from Mark Bristow's presentation:

"In Mali as elsewhere in the Barrick group, the hunt remains on for new answers to replace mining depletion. The Loulo-Gounkoto prominent properties continue to yield strong results which position us well for significant life extensions. Across the border in Senegal in the Bambadji joint venture a number of exciting new targets have enhanced the prospectivity of that permit. Auger drilling has successfully been used to penetrate the transported gravels that cover large areas adjacent to the Falami River and is generating a number of new exploration targets that have our geos quite excited."


Here is the full MD&A link for the Barrick Quarterly: http://s25.q4cdn.com/322814910/files/doc_financial/quarterly_results/2020/q3/Barrick-Q3-2020-Report.pdf

Within the link, here are screenshots of what I consider most interesting:

from p. 68





from p. 110




SUMMARY:

This is all very encouraging! The Kabewest drill results are impressive and unexpected. It's unclear how this connects with the Area A/Area D discoveries by Chesser at Diamba Sud. But I think it's fair to say this is another factor in thinking there's a big system including both Chesser's Diamba Sud and Barrick's Bambadji properties in Senegal.

This all fits in with my previous post in this thread. What's most exciting at this time is that BOTH Chesser and Barrick are doing massive drill campaigns. We know Chesser just raised an additional 8M AUD which will lead to 20,000m+ drilling in the coming months. While we don't know the budget or meters for Barrick at Bambadji, this line from the MD&A is important:

"Following the end of the wet season, drilling is scheduled to resume in October 2020 at our Kabewest, Latifa and Gefa priority targets."

It's going to be really interesting to see if Barrick makes progress on at least one of these targets. It's possible that Gefa is still the #1 priority even if Kabewest had the best recent drill results.

All of this activity next door to Chesser adds huge value to the region. I still think this is not widely known by investors, but will be at some point in 2021. It should add a further premium into the Chesser share price, especially if Chesser has further excellent drill results (something I expect as a large shareholder).

Exciting times, and let's see what Chesser reports in the coming weeks/months, and what Barrick reports in the next quarterly!

Cheers,

MBG