Whilst many things have been happening on the Lithium front, BGS, via our optioned up partner with a multi billion dollar Market Cap Randgold, has been brewing our gold asset in the background for potential production.
On 24 April 2017, so less than one month away, we will be informed if our big brother wants to do business with us.
We have estimates of around $8-$15m that this operation could deliver in free cash flow in a short timeframe, and a further asset that is 100% ours, which is unoptioned (Koting), opened for deals, and currently is being drilled with diamond drill rods investigating if the surface gold found.
The latest announcement stated:
"In contrast to the other gold deposits defined nearby at Ntiola and Viper, the mineralisation at Koting has
an anomalous easterly dip which is more analogous to the up-dip portion of the 7Moz Morila deposit,
located 25km to the south-east. The width of mineralisation at Koting is up to 60m on section and has
been defined by RC drilling to a depth of approximately 130m from surface (open at depth), and over
>250m of strike. A program comprising three holes for 600m of diamond drilling is planned to investigate depth
extensions to mineralisation in the central portion of the prospect area."
Now its been a while, but on the 26th of March 2015, we announced a stand out hole of 9m at 7.53 gpt, which ended in mineralisation as we only went 60m deep with the RC holes... We know Morila had grades reflective of the above, but were found at depth, so I wonder considering the bulk nature of this deposit, what is feeding the system up top? We are lucky that 1-2gpt is profitable considering how easy it is to liberate gold in that part of the country, but what if we struck more of the same above???
so i ask you, who wants to own a portion of a company that is likely to generate good money... and have blue sky potential at another asset (koting) with favourable characteristics to Morila?
With less than one month away till we find out, I certainly do... Throw in a world class, near 30mt very high grade lithium deposit and 8m cash all for 55m MC, and no wonder im going for more.
PS: RG have been doing geotechnical drilling which IMO wouldn't be getting done if the economics didn't pass the sniff test first....
Getting set.
(20min delay)