On the third tweet in the thread, I used an unedited version of that great regional map from the CHZ powerpoint. Today, I thought it could be helpful to post an edited version here. See the blue arrows and black boxes for the content I added:
There are at least 2 exciting things happening around Chesser's Diamba Sud project in Senegal:
This is exciting, because most of the previous drilling has been at the southern part of Oriole/Iamgold's Senala project, closer to Iamgold's Boto Mine. Fare (rough location represented by the red dot) is easily within trucking distance at 10km. While results won't be expected until the end of the year, this should get more attention from UK/European investors (since Oriole is better known there), and adds another dimension to the potential consolidation story down the road.
2. Barrick could be drilling an economic discovery right now, and also could start drilling much closer to Diamba Sud at any time, all on the Bambadji property (JV'ed with Iamgold, but managed by Barrick).
The possibility of an "economic discovery" is speculation on my part. But I believe Mike Brown said in that Amvest webinar that Barrick is still drilling closer to B2Gold's Fekola Mine and Anaconda discovery in Mali (this target is on trend with both of those, as represented by the red dotted line). But I want to emphasize this is also well within trucking distance. Barrick has been very good with reporting results at Bambadji, and maybe there will be a lot more to report here.
I believe Mike also said drilling could start at the area on trend with the Diamba Sud Area A discovery at any time. Whatever happens, we will will want to see what Barrick reports in their Q2 update, which I believe should be released at some point in August.
As a sidenote, it's interesting that Iamgold is involved with both projects.
I hope some of these additional details are helpful in understanding that CHZ could gain a lot of traction from the activity of the neighbors, and not just what happens at Diamba Sud (though the next drill results do have the potential to be very exciting, as detailed in the twitter thread!). There will likely be consolidation down the road, especially if multiple discoveries are made.
Cheers,
MBG
CHZ Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
