Hello. Looking at the most recent announcement, for me, its just more fluff, about "alluvial" and "colluvial" manganese and then a photo of a big rock of manganese. Colluvium is a mixture of rock fragments and soil. Alluvial i guess means layered sediments. The announcement said the alluvial mineralisation which can be found scattered in creek debris and in the alluvial layered sediments within creek walls. Typically, clasts [fragments of rock] range from a 5cm to several 10’s of centimetres in size with an
average thickness of 4-5 cm; the colluvial mineralisation occurs as
sub-centimetre to 1 metre sized clasts derived from the soils over adjacent hills to the tertiary deposits.
The first question is can or does this sort of stuff form the basis of a commercial mine? Are there any examples of current commercial mines like this? Personally, I don't know.
Personally, with not having an expertise, i cannot personally discern anything inherently commercial in this announcement. Bits & pieces of manganese over a large area does not necessarily mean it is of a commercial nature. Are there commercial producing alluvial deposits in the world? I don't know.
This company reached a high of 4.2 cents, which valued the whole project at around $142M. To me, this was absolutely crazy. What type of magical spell does this company seem to have on punters?
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