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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@HRA-CoffinI'm well aware of the situation in Eritrea @MiningBookGuy. Have followed $NSU for years. $EAM has good projects but not the cleverest management and they have apparently (I'm told) pissed off the locals. There will be a new pubco in Ethiopia before mid 2017 if everything goes according to plan. Run by good guys with regional experience.
@MiningBookGuy@HRA-Coffin - yep, i know you've covered $NSU closely for a long time. Re-posted that from @90bigpicture mainly to make sure it was tagged and others saw it.
Thanks for additional details on $EAM (and 'new pubco' hint!)
@HRA-CoffinHearsay - but from someone who probably does know what's going on over there. Certainly its a gong show at a corporate level. No news there. Unfortunate as the project looks pretty good. $EAM
@NewtonEthiopia has part of arabian-nubian shield but nascent... we have two of three projects in country. Infrastructure drives economics, including $75M of spending by world Bank. Power and water in place to stimulate economic activity in country. Good tailwind $eam!
@NewtonA couple projects with 900K gold-equivalent ounces. One still growing. Similar to Bisha, I believe. Gold oxide at surface, then copper and copper-zinc below. Silver below that. Hello poly-metallic mining! 20,000 ounces production per year planned to start next year. Sub $500 cash costs. First new mine under mining act in #ethiopia. $eam.
@NewtonFocus in 2013 was to establish solid resource base, target for short-term production and cash flow. Then grow resource in local area where have good infrastructure. Speaks to the value of #reinvesting proceeds from #mining into #exploration. Sorry, no #dividends yet! $eam
@NewtonHard to see details in pic here, but looks like good trend definition along mountain there for $eamhttp://cdn.ceo.ca/1c1ps1j-IMG_20161104_133112.png+ curious what underground picture looks like that would have allowed mineralization to occur there. I.e. Meeting points of different rock types, bending in faults, anything else?
@NewtonIn context of regional deposits, there are some similarities. Looking at bisha and hassai (?) as "end mines" on operational point of view. They straddle national borders but share some geology and bisha gives a sense of potential size here. Bisha has 3m+ lbs #copper and 3m+ Oz #gold in small area, $nsu and $rmc. Hassai has 10m+ lbs #copper, more spread out. $eam believes infrastructure in #ethiopia makes economics much better. Particularly for smaller starter mine to get at oxide cap
@NewtonNew financing for $eam brings in big #chinese company that is listed on shanghai exchange. Financing announced on day of presentation at conference. #TianyeGufen. Expecting cash flow in 2017 from heap leach of higher grade #gold at surface.
@NewtonNice! $eam kept 30% stream on an asset that they have sold -- closing pending. Magambazi in #ethiopia, I believe, with 500k ounces #gold. Nice deal there. Unlocking some capial for reinvestment from sale and keeping significant share of profits going forward apparently thatmine is going into development immeiately after deal closes. $eam.
@NewtonTradeoff between country-risk and geological potential is in good balance in #ethiopia. $eam. Yes, I would agree here. Plus it's not crowded. Curious other people's comments on Ethiopia in #africa?
@NewtonCatalysts for 2017 fairly ambitious. Expand and upgrade resources for projects along long (4km?) strike length, complete pea for one advanced stage project and start permitting process, develop a gold oxide project along strike and bring into production, and do exploration on known targets along strike. Think big $eam!
@NewtonNew mining law in #ethiopia is twelve pages long. Lacks a lot of precedent government intent is to develop sector and combat poverty. Breaks down at administrative level. Lack of clear laws slows down admin. Hence, reason to start permitting and production of small oxide deposit is to engage government in this process. Help government practice and get ready for bigger projects coming their way, and help build confidence in company and investors that it is prudent to continue to invest in #ethiopia. Good answer to question from audience by $eam ceo at #PreciousMetalsSummit
@NewtonThanks for suggestion with $eam there @vaughn. Another good one that helped me learn relevant info about the horn of Africa. Connects nicely to my prior writing on $aan. Please give me some more names from #pmsummit that you'd like to see covered!
@MiningBookGuy@FundamentalAnalysis - yes, $KEFI.L$KEFI is the most advanced in #Ethiopia. btw, you will see more posts on $KEFI.L in that room, there was a guy @Paul from the UK who followed it closely, but he hasn't been around in a while.
You can check #Ethiopia room for more info as well. $EAM is trying to move forward with a smaller scale project than $KEFI.L (or I should say multiple projects, but I need to look closer). Anyway, those are some additional rooms to look into if you're interested in #Ethiopia. I would like to see more juniors enter this country, as well as the rest of the #ArabianNubianShield.
*EDIT - i noticed @Paul posted in the $KEFI room. this is a slight issue at ceo.ca -- sometimes you will miss info because of ticker confusion ('KEFI' being AIM listed is supposed to have a '.L' at the end, but many of the posts are just in the 'KEFI' room). Anyway, you have already seen some, and I just realized that.