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General discussion, page-185

  1. 2ic
    5,559 Posts.
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    "You may want to read this post from@11upit is from a while ago now, but does explain about Rio"...this response to my post asking the first question should be on everyone's lips really typifies one poster's problem with proper debate, and why they have opted out. The question i asked was

    "...why RIO dropped Linhuane if it is such a cracking prospect? Linhuane was drilled in 2001 btw , same time as Mutmba which RIO kept and conducted resource drilling from 2002 onwards.". Well funded companies tend not to drop good looking projects along strike from others they continued to invest years of time and money into right. Don't need to be a geo to know that doesn;t compute, outside sheer incompetence there was probably a reason. That reason might have been valid back then but invalid now, times change and discoveries can be missed. When investing hard earned into a speculative play, to not ask why the previous operator walked away from seemingly world class results without even following up with infill drilling is.... well simply incompetent.

    Everybody doesn't have to agree with my sentiment, some people punt based on trust, hope and aren't inclined to dig any deeper. But PICT's effort up to put me back in my place is typically irrelevant to the point I'm making. The only reference in 11up's 2018 post to RIO is some conjecture about why RIO didn;t try to pick up Corridor in 2012. Whatever explanation the company put out as to why RIO didn't try to grab the Corridor central/south leases discarded by the Chinese has zero relevance to why RIO never followed up their exceptional high grade first pass Linhuane results from 2001 but instead dropped the tenement and walked away. Absolutely zero relevance to the question.

    "...Rio Tinto always wanted to get access to the Corridor area deposits. The areas around Corridor were never free at the time Rio was exploring (2000 - 2006), and by the time the areas became vacant in 2012, Rio Tinto had become persona non grata with the Mozambican govt due to its Riversdale coal adventure in Tete Province. Hence Rio is using Savannah Resources as its proxy to develop their HMS projects, and Savannah will only earn up to 49% equity."

    I should be used to this sort of tangential arguments against stuff I'm not even talking about to prove me wrong or a liar but it still jars. This sort of thing gets thumbs up, though I'm guessing on principle rather than because anyone else fails to see the irrelevance. The question remains unanswered and pertinent to considering what value Linhuane may or may not have.

    Otherwise 11up's post was an interesting re-visit to a time before results replaced opportunity. Can't be too harsh with the benefit of hindsight, but much of the post read like someone was guzzling the company kool aid. As per below, not entirely incorrect but close to it. Especially eye-watering is the claim of "excellent rutile and zircon non-magnetic mineral credits", which is the complete opposite of what Corridor was infamous for.

    " The Sofala Corridor projects host ore grade (+3% THM) width heavy mineral intersections in every drill hole completed within the area. The mineralisation begins at surface and extends to 90m below surface - characteristics rarely found in HMS deposits globally, resulting in zero stripping for mining. The ore is hosted by sand that is easily minable by conventional rubber-tyred machinery, or hydraulic mining being employed by Base Resources in Kenya. The mineral assemblage is dominantly ilmenite, with excellent rutile and zircon non-magnetic mineral credits, and is exactly the same mineral assemblage as the Chinese owned deposit to the north"

    Exxarco's (Ticor) finance director De Klerk said in 2009: “not surprised that BHP Billiton had decided not to continue the development of Corridor Sands" and “We were offered ownership of Corridor Sands some time ago. We turned it down because we decided the material was not suitable for our furnaces, as it contained a high level of manganese and also had a very low zircon content.’ It has even less rutile as we know.
    https://www.miningmx.com/news/base-metals/20654-exxaro-shuns-corridor-sands/

    Unlike many posters, I start from the position of suspicion about all the claims made by all exploration companies then go about finding out for myself what the real situation and prospects look like. It's not a style or effort many others follow but it's one that has made/saved me a lot of money over the years.
 
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