As far as I know when this company bought the tenement containing the old Paris diggings there was 32.7 koz of mineable ore already JORCed up at the bottom of the Paris pit. Back then, Ian Finch, the co-founder and the then executive chair, said that they had thought about loading that ore onto some trucks for toll treating but had decided to leave it in situ until they'd found some additional material. I am not sure why Cristian Moreno does not note this nugget of information in the current presentations as to my knowledge the rocks have not been mined or sold in the meantime.
From the presentation materials from 26 May 2022:
As the very young Ramelius showed at nearby Wattle Dam close to 20 years ago you don't need huge quantities of ore to do well if you hit bonanza grade veins. In fact a very mature Ramelius is again proving it, this time with Penny which is blowing the doors off the Ramelius cash balance (from memory its cash balance is up $100m in just the last quarter).
I bought into Torque on the hope that they had a company maker in Paris and adjacent areas. I thought their swivel to spodumene and New Dawn in the latter part of last year when junior gold sentiment was at its nadir was well thought out and executed and I see they still lead with the New Dawn project in their most recent presentation. However while I think New Dawn likely saved the company - remembering that most days in late 2023 no TOR shares were traded and no comments on Torque were posted on hc so the chances of raising any interest in a new cap raise were extremely bleak - I still think Paris is the project that has the best potential to be a company maker for CM and the TOR shareholders.
TOR Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)