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@bmonaghanRe: $AAN, From the article: "This seems to be what Egypt’s government is planning with its Golden Triangle project, which will place about 9,200 square kilometres of land in the country’s impoverished south in a special economic zone largely out of the tentacles of public servants. This is particularly important if Egypt wants to develop its gold mining industry, which many geologists are convinced could earn billions of dollars if only the right framework were put in place.
The Golden Triangle will stretch from the urban outskirts of Qena and Sohag along the Nile, across the mountains to the Red Sea ports of Safaga, Hamrawein and Abu Tartour. The government passed a law on January 29 creating a special authority to develop the area akin to that of the Suez Canal Economic Zone that was created in 2015. The Golden Triangle Authority will be independent of the Egyptian Mineral Resources Authority (Emra) and will issue its own set of terms in a new mining offering planned for 2018. This lets it get around the tortuous conditions laid down by Emra in a mining concessions bid round that opened last month. A number of investors have said these were so onerous that few private companies are likely to submit bids.
anonymous@bmonaghan, @newton. Your response about the golden triangle did not really answer the question. So I will ask again... if $aan agreement is the same as oil and gas companies operating in Egypt, then those agreements such as Aton is its own law. These standalone laws cannot be changed by other laws, which means your suggestion that the changing Egypt's mining law will mean a change to $aan agreement is not correct...
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@bmonaghananonymous re $AAN, I answered your question with my own question, do you think that laws are written in stone and that they can never be changed? P.S. In the interests of full disclosure, I think you should disclose who you are so participants can understand your biases.
@NewtonI have studied past releases pretty closely and am trying to learn more about how exploration drilling is done. I liked the drill plan given in $AAN release: http://media3.marketwire.com/docs/1086390fig1.jpg+ Seemed clear to me how the holes could test several things. Quote from Rick Cavaney VP-Ex hits nail on head here: “The first thing we want to accomplish is to increase sulphide resources at Hamama West. We believe that we can accomplish this by drilling some deeper holes on the eastern flank of the Main Zone and by testing the western extension of Main Zone, where it strikes under the Western Boundary Fault. The second thing we set out to accomplish is to increase the potential size of the mineralized footprint in the Hamama area and the Western Carbonate Zone represents an excellent opportunity to do just that.” Good to see trenching over on Western Carbonate Zone, too. Hopefully that provides some guidance on first holes in that area, iirc. Exciting!
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@NewtonI was also pleased to see update on #geophysics from $AAN, particularly the "ground magnetic, ground EM and downhole EM geophysical surveys". Those things can tell a great story in the hands of the right geologist. I also look forward to some new insight into the concession area, broadly. Example: "A geophysical program will also be conducted over an 8-km long hydrothermally altered and mineralized zone between the Abu Marawat gold deposit and Miranda." I first heard about that area in initial interview with CEO Mark Campbell @Newton/an-interview-with-aton-resources and good to see some work there. I was also intrigued to read that the geophysics could be used specifically for "improving the geological understanding of the mineralized horizon at Hamama." Lots of good stuff going on.
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@bmonaghanre $aan at PDAC, we have a busy week ahead, lots of meetings. However, if any investor would like to meet with us while we are in Toronto, please let me know, email@example.com
@tommyAton Resources $AAN VP Corp Dev Blaine Monaghan up reliving memories of working IR at Wheaton River Minerals with Keith Schaefer, "we couldn't buy a bid." He was recently with True Gold, acquired by Endeavour. He's attracted to the team and project at Aaton, one of the few companies actively exploring in Egypt.
@tommy$AAN's Abu Marawat project has 2 deposits to grow this year, countless targets, incl old British mines on the property. Exploring Hamama deposit (.5 mil ounces gold equivalent based on 750m of 3km strike). Turnaround story, had negative working capital, jurisdiction issues, management turnover. New team would like to spend $10mil exploring in the next 2 years. CEO based in Cairo to control quality. Accomplished management and advisors. Very low costs to mine and explore in Egypt. Good infrastructure and security is "just fine." No settlements on the property. Looking to increase resources and put out a PEA by next year. First mover advantage in Egypt with district scale.
@marketwiredAton Files NI 43-101 Independent Technical Report for the Hamama West Deposit; 2,300 Metre Drill Program at Hamama West Continues @marketwired/aton-files-ni-43-101-independent-technical-report-for$AAN Hamama West hosts an Inferred Mineral Resource of 341,000 ounces gold equivalent and an Indicated Mineral Resource of 137,000 ounces AuEq*.
Resources at Hamama West represent only 750 metres of the 3,000-metre-long mineralized horizon at Hamama, which remains open along strike and at depth. A 2,300 metre drill program is currently underway at Hamama West with the goal of increasing potential resources at depth. The Company will provide investors with a more fulsome exploration update within the next week.
@NewtonI dug through the $aan technical report for Hamama West recently. Lots of interesting stuff in there that helped answer some questions I had and moved my understanding forward of the deposit a bit more.
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@NewtonOne of the things I learned was that poor core recoveries in oxide section in prior campaigns was reason for categorization as inferred there. Since then, company has improved procedures there. Moving in the right direction there.
@NewtonAnd a nice map showing the Western Carbonate Zone, where company is drilling now http://cdn.ceo.ca/1cd0he4-IMG_20170320_140809.png+ apparently that area has been mapped and had some trenching work done. The western part of the Main Zone, which was subject of the resource estimate, had largest amount of fresh mineralization and will be interesting to see how that looks in new results.
@NewtonAlso interesting to note that drilling at Main Zone starts by going through the footwall: http://cdn.ceo.ca/1cd0i28-IMG_20170320_142310.png+ a bit beyond me, but I believe that suggests things have been moved around a lot there. I am keen to learn more about the "genetic model" of the deposit here.
@NewtonGood to see one of the Estonian investors join $AAN as a Director. He is named Tonno Vahk. One of the largest shareholders who is "former derivatives and financial engineering specialist" that has been "managing private equity investments in Eastern Europe, the Middle East and Africa, with a focus on mining and real estate" since 2012. I've wondered about potential for a PE group to get behind Aton, given large land package, and it is good to see that has happened already with OU Hektik. Sounds like a great addition to the company.
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@MiningBookGuy@cjb@freeheel@Blueshare RE: https://ceo.ca/mtr.l?446e76151b60$MTR.L - wow, FANTASTIC news! i'll briefly go through my immediate good/bad impressions:
GOOD - I 100% guarantee that this will get the attention of potential North American investors! Both $MTR.L and $MOD.AX still incredibly overlooked in this part of the world. Not only does T3 #Botswana#copper project get 'instant credibility' with #Sprott name attached, but $MTR.L has an even better reason to 'catch up' with $MOD.AX valuation. This is an amazing deal for people who can participate in the PP
BAD - as retail, I'm never a fan of '5 year, full warrants'. This is very similar to recent deals I've seen from Sprott, like $AAN and $GXU. It's excellent for people who can participate...but it blows out share structure even further. Unfortunately, $MTR.L already has some share structure issues, and this isn't helping. While $MOD.AX has too many shares out, their last 2 financings had no warrants, which I really liked.
Still, it's overall a HUGE positive--pricing was good at 3 pence, with warrants at 6 pence. getting this #financing is much more important to $MTR.L, because it's 'AIM' listed, and I support it with a large stage in $MOD.AX (and currently much smaller stake $MTR.L), because it's a crucial step that could eventually lead to North American 'big money' :)
@NewtonMy favourite bit from $AAN news today: "the presence of visible gold in strongly hydrothermally altered intrusive rocks makes Bohlog an exciting target that warrants further exploration work. The mineralization at Bohlog and Massaghat to the northeast, where Aton have previously returned channel samples assaying up to 470g/t Au (see news release dated August 15, 2012), appears to be of a similar nature and this is very exciting in terms of the potential overall size of the target area. It also demonstrates the large and varied geology within the Abu Marawat Concession and the potential it offers for new significant discoveries.”"