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@MiningBookGuybeen following #mbgtrends chat without participating - AWESOME discussion today, like the #promotions tag from @tommy with #RichardBranson 'tip' as well.
need to look more carefully to respond to earlier comments at a later time. but @Brendan has an important opinion here that I 'somwehat' disagree with:
I have spoken to various companies with 'promotion' and 'non-promotional' ability. Without naming names (but I'm sure you guys could guess some!), my FAVORITE companies are the ones that are POOR with promotion, but have EXCELLENT fundamentals.
With that said, some of these companies are stubborn or ignorant (at least to a degree) about IMPROVING their #promotions. This does NOT necessarily require a budget. But I have seen incredible improvements in some companies (and people at CEO.CA literally doing a 180 on them based on posting), because the #STORY made more sense, or it was just communicated more effectively.
I think this is really, really, really important, and a bit of a different direction from the #FutureMoneyTrends talk earlier (which again, I'll comment on another time). But @Brendan, as a key 'general' example, there is NO reason for #Africa (as an entire continent) to be ignored by Canadian and US investors to the degree that it has been. I know that you follow/own many companies on the continent. And honestly, just improving the #story, and all the other little #promotions stuff that may seem gimmicky, actually can move million (if not Billions or Trillions) of dollars. Never forget #BRICS, and what that 'story' accomplished, regardless of how gimmicky that was! (thank you Jim O'Neill for that one!)
@MiningBookGuy@Brendan - great comment, and I even think that's a good example to use. And interestingly, I'm down on #Russia as well, but COULD be convinced otherwise with the proper promotion.
And as an #Africa example, I was shocked how well the $GXU#promotions worked in #Niger, because I consider #Niger one of the most dangerous places in #WestAfrica (even with the mention of the history of top security specific to AREVA, which is true). That's a big credit to CEO.CA and Jonathan Roth (and many others involved with that one!)
@GoldfingerRBC on $EDV:
We expect a slight positive reaction from Endeavour’s shares to the construction update on the company’s flagship Hounde project which is now over 85% complete, on budget and on schedule to pour first gold in Q4/17. Hounde is expected to have a positive impact on Endeavour’s overall all-in sustaining cost profile given benefit of lower cost production relative to existing assets. The project is also expected to benefit from a renewed focus on exploration which has resumed and is currently testing higher grade targets in order to sustain a higher level of production during the early years of the project.
Project is nearing completion and on schedule and budget, with less than $120M remaining to be spent of the $327M total capex
Long lead items including SAG and ball mills are on site with installation in progress
Mining has commenced with 600 Kt expected to be stockpiled ahead of first production (73 days based on annual capacity of 3.0 Mt)
Near mine exploration drilling of various high grade targets has resumed in early 2017
We estimate annual attributable production (90% EDV) of 165 Koz at an average mine-site sustaining cash cost of $790/oz over an estimated mine life of 12 years. Production during the first five years of operation, we forecast average annual gold production of 205 Koz at a sustaining cost of $695/oz. Hounde currently represents 35% of our operating value for Endeavour. #Africa#Gold
This is truly fantastic news for $ORG, and I'll add a few additional comments, because I think it's hard for someone new to the story to understand the significance here:
-there have always been 2 big hurdles for $ORG: 1. jurisdiction risk/perception with #Sudan 2. #water problems
-with this NR, we have completely wiped out the 2nd risk! I trust that this management team really has found the 'holy grail' in terms of putting the water issue to rest. This is a HUGE surprise to the upside. Based on previous presentations and my brief discussions with management, I was expecting any water discovery to allow for throughput to increase from 1.8Mtpa to roughly 2.3-2.4Mtpa. This still would have gotten annual gold production through the 100k oz/year threshold, which was already key
-well instead of this, we blow right through 2.4Mtpa, all the way to 3.4Mtpa, crazy! HUGE, improvement, and as you scan the NR, you can see 135k oz/year gold production over the life of the mine, and 146k oz/year over the first 5 years. Again, this is HUGE!
-I am 100% sure this will turn heads in the industry, but not as sure how long it will take for new potential investors (like retail at CEO.CA) to understand the significance here. There is 'likely' to be a removal of US sanctions by July on #Sudan. IF that happens, I think this project will REALLY get attention. But even if it doesn't, I am sure many mid-tiers are going to get really interested in $ORG (some examples being $TGZ or $EDV, especially since they are already focused in #Africa). In fact, $EDV might just now be getting interested, because these project economics now rival their other mines.
-One question mark for me: A bit weird to go straight from PEA to DFS. I understand the reasons to rush. I also think it's important to realize the PEA seemed 'relatively conservative', because most of the ounces were already at least in the 'indicated' category, and NOT 'inferred' like many other PEAs. But this is an area where we need to trust managements experience/expertise to some degree, and it obviously helps seeing the #RedBack track record.
Ok, long enough for now. Oh, make sure to compare the project NPV to current $ORG market cap. Crazy gap...AND don't forget $ORG has prime #ivorycoast exploration properties! I am 'very confident' this is now the 'best value' in the mining space for gold projects around the world (let alone #Africa), not at all reliant on the gold price needing to move up. I'll also tag #mbgtrends as this fits with many of our discussions in that room. ~AUfrica
@MiningBookGuybtw, you can include companies or ANY other rooms/panels. I for instance included ~AUfrica or #Africa, just in case people aren't aware of that panel or room yet.
I think this is a great way to 'introduce' ANY new room ideas to people at CEO.CA, whether it's a company or anything else. Anyone can subscribe to public watchlists, rooms or panels. And I think anyone can write in a watchlist without permission (you only need permission for panels).
@Excelsior$ORE Orezone #Gold Announces Results From Ongoing Drill Program at Bomboré; Expands P17S Zone Down Plunge
Hole TYD0073, which returned 4.80 m of 2.29 g/t Au and 6.30 m of 4.47 g/t Au;
Hole TYD0074, which returned 8.50 m of 3.95 g/t Au;
Hole TYD0075, which returned 9.60 m of 3.80 g/t Au;
Hole TYD0076, which returned 12.00 m of 3.40 g/t Au;
Hole TYD0077, which returned 14.00 m of 1.65 g/t Au;
Hole TYD0078, which returned 5.00 m of 4.94 g/t Au;
Hole TYD0079, which returned 5.90 m of 2.44 g/t Au;
Hole TYD0080, which returned 5.00 m of 3.17 g/t Au;
Hole TYD0081, which returned 8.80 m of 2.70 g/t Au;
Hole TYD0082, which returned 13.30 m of 2.06 g/t Au;
Hole TYD0083, which returned 9.70 m of 3.38 g/t Au;
Hole TYD0084, which returned 2.00 m of 14.10 g/t Au;
Hole TYD0087, which returned 6.90 m of 4.85 g/t Au.
"Commenting on the results, Patrick Downey, President and CEO, stated, “These new drill results along the P17 corridor continue to demonstrate the potential to both expand higher grade shallow resources at Bomboré and open up previously untested zones. The #drilling continues both to intercept mineralization containing both good grade and widths and is open along strike and down dip. The Company plans to continue drilling in this prospective corridor and to evaluate and drill other prospective areas on this largely underexplored property.” ~AUfrica#Africahttp://orezone.com/higher-grade-zone-bombore-expands-along-newly-identified-mineralized-trend/
@MiningBookGuyInvesting in Gold Around the World Panel - Moderated by Frank Holmes https://www.youtube.com/watch?v=2pnkgh04wfI+
This is a notable video from #IMW17. I like the questions asked by #FrankHolmes. There are some good nuggets throughout the video, but I wanted to highlight a few things:
-Around 8-9 minutes in, I love that Frank asked the panel about #LatinAmerica vs #Africa, which I don't think gets discussed publicly enough. Of course, each of the panelists has their own interests. But I was pleasantly surprised that #ChrisThompson highlights #IvoryCoast as one of his favorite places to look in #WestAfrica right now. He also mentions #BurkinaFaso as an area of interest, and I'm sure he has his own ranking of #WestAfrica jurisdictions. I just happen to agree with these 2 being at the top right now.
-A bit later on, #FrankHolmes even says that 2 analysts from #Bolivia and #Mexico generally consider #Africa 'safer' than #LatinAmerica, with this creepy quote: “in Africa they only take off your fingers, in Latin America they take off your arms”
Of course, all panelists agree that you really need to hone in on specific jurisdictions. I agree with this, and appreciate the nuance in the answers.
-I also liked Chris Thompson's thoughtful comments on #silver, in which he also specializes. I am biased towards his comments because I agree with much of what he said. But the other 2 guys had good things to say as well.
-Lastly, I found it very interesting that there was a complete LACK of discussion on both #Europe and #Australia (at least I don't remember hearing a single thing on these 2 areas). I am interested in both, and maybe this lack of discussion implies opportunities! Anyway, I really enjoyed this video, and recommend people take a look if they are as interested in 'global' thoughts in mining as I am. #mbgtrends
@MiningBookGuyDR Congo jailbreak frees 900 inmates http://www.bbc.co.uk/news/amp/40242338 h/t @sndwky#DRC#Congo#jailbreak#Africa~AUfrica#index
"Eleven people were killed when militants attacked a prison in the Democratic Republic of Congo and freed more than 900 inmates, officials say."
"The incident in Beni is the latest in a series of jailbreaks in the country.
Last month about 4,000 inmates escaped from a high security prison in the capital Kinshasa following an attack blamed on a separatist sect."
@FundamentalAnalysis~Aufrica ....Thought I'd share couple of basic cpinions from those who have lived in the african region. I went to a bbq over the weekend and spoke to someone who was born and migrated from Nigeria to UK, they were off the opinion that within the west african region Ghana is one of the few standout places in terms of progress due to political changes that have been made. His experience of Nigeria was bad (the usual people at the top siphon off all the oil money). Alternatively also spoke to someone from Zimbabwe who left the country about a decade ago, and they were long term bearish on Africa as a whole, saying they just didn't believe Africa would ever really get out. (Maybe his zimbabwe experiences could explain the negativity but it got me contemplating) that the system is designed so not everyone can be wealthy, as wealth is relative, and until African countries have proper rule of law and proper governance, regardless of all the infrastructure the chinese are building and the mining related profits etc....its citizens would never get out of the poverty trap. The world is based on debt, and therefore inflation is necessary, that in turn keeps people struggling .
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@GoldfingerI think $ACA.L issues are weighing on the sub-Saharan $Africa explorers. News would be nice, but I agree about having a deal with $TGZ would be much better. Also as I shareholder I would love to see some effort on the promotional front, which $SWA seems to have no idea and/or no interest in putting together. So shareholders keep suffering OR looked at another way, get to buy more stock at what 'hope' to be low levels.
@MiningBookGuy@Goldfinger - just a quick response to that because i have to run soon:
Agree on potential of $SWA promotional effort. but in terms of $ACA.L related to sub-saharan #Africa explorers, there is A LOT of excitement in various companies right now, and they are being rewarded. Some of them are ASX listed, and not discussed at CEO.CA. Mid-tiers are also doing a lot of good work, and people are following those are following those more closely.
Unfortunately, I do think $ACA.L is weighing on $SWA ...but just wanted to clarify my thought that this is very specific to companies that $ACA.L is related to, and i don't think it crosses-over at all to other #WestAfrica companies, or much of the rest of sub-saharan africa
@JamesKwantesOn your #Africa comment, @Allan, I must respond. Partly because I went there for the first time recently & what I learned and experienced. I take your point and there are some very real issues wrt corruption, colonial legacy, etc. But's a big, diverse and mineral-rich continent with countries of all shapes & sizes & degrees of mining friendliness, so you're painting with a VERY broad brush there. #Botswana, for eg, is a great mining jurisdiction. And extending your logic takes you to some curious places. Why arbitrarily draw the line at Africa? Would you write off all of Central and South America because of some serious anti-mining sentiment at the local level (and a history of centuries of colonial exploitation)? British Columbia because of the First Nations? That BC one is not a rhetorical question -- I have talked to high-profile mining CEOs who take that very approach. To take it to a ridiculous level, how about the entire Earth? There are great opportunities to make money in different areas, sometimes even where you're not expecting it #newbies
@MiningBookGuy@staffpro RE: https://ceo.ca/spa?fde2bbcdb666 - i don't think this is specifically relevant to $SPA & $ME. But in general, I do think this is a positive for the gold sector going forward a year or two, as #SouthAfrica#supply disruption should have medium term impact on the market (but there's also a hidden assumption that the 'physical' market will become a bigger factor in the price of gold, which I believe to be true, but not everyone does)
But I would say this is even more positive for #PGMs, as #SouthAfrica is even more influential in that space. That's something to think about as well. But I'm glad you caught this news, as a lot of people tend to underestimate the significance of #SouthAfrica mining on the rest of the world (though it was much, much more influential ~40 years ago). #Africa
@MiningBookGuyINTERVIEW: South Africa's Mining Charter raises black ownership threshold to 30%, from 26% https://www.youtube.com/watch?v=U-53XAb4FlU+#SouthAfrica#MiningCode#MiningCharter#Africa~AUfrica
"Between 2012 and end 2016, South Africa's mining sector shed some 70,000 jobs. Last week alone, Sibanye Gold fired another 1,500 for taking part in an illegal strike. With highly controversial provisions, the Mining charter introduced last week may now accelerate that jobs bloodbath at a time when Africa's largest economy, is in a recession. CGTN's Ramah Nyang explored the legality of the charter's provisions, with the Deputy Editor of the Financial Mail."
@MiningBookGuyOrca improves economics at Block 14 in north Sudan www.northernminer.com/news/orca-improves-economics-block-14-north-sudan/1003787287/$ORG#gold#Sudan#RedBack#Lundin#Beaty#HughStuart#water#Africa~AUfrica#NorthernMiner#index
"Avant-garde explorer Orca Gold (TSXV: ORG) has launched into a feasibility study at its 2.3 million oz. gold Block 14 project in northern Sudan’s Nubian Desert, after finding a #water source that could support a larger open-pit operation than the company envisaged."
"Stuart — who had been #RedBack’s vice-president of exploration — argues #Sudan is the most geologically prospective country in Africa.
“There are few places left in the world where modern #exploration hasn’t had a good go, and #Sudan is one of them. It’s got fantastic rocks, yet it’s barely been touched. From a purely technical point of view, it’s a no-brainer to explore there,” Stuart says."
"On July 12, U.S. President Donald Trump’s administration may permanently remove a 20-year economic embargo on #Sudan. The sanctions were temporarily lifted in January under the Obama administration, giving the Sudanese government six months to improve its human rights record and resolve political and military conflicts."
[“If the sanctions are permanently lifted, anybody is free to do business there, including bankers,” he says. “In the past, we’ve focused on the Gulf states rather than North America when it came to lining up finances for the mine. So if it does happen, it would open up a lot more opportunities for us.”]
@MiningBookGuyAt least 100 killed in fighting in Bria, a day after ceasefire https://www.youtube.com/watch?v=XJaIKA6bDAU+#CentralAfricanRepublic#Africa~AUfrica
"The death toll from clashes between armed groups in the Central African Republic has risen to at least 100 people. The fighting erupted in Bria, a day after the government and rebel groups singed a ceasefire. Witnesses have described streets strewn with bodies. The situation is reportedly so dangerous that Red Cross teams are unable to enter the area to collect the bodies for burial. The Central African Republic has been rocked by inter-religious and ethnic fighting since 2013."
@Chiel@stateside It took some time but got some good news. $mma expects to publish the (first) drill results by the end of the month.
Even better, First Quantum $FM 's due dilligence from august 2016 is still ongoing and they have informed $mma they will bring out a #JV offer very soon. $MMA is also negotiating with other seniors on JV deals for various parts of their consessions.
@MiningBookGuy@LucTenHave - thanks for mentioning $OTC.L. I originally looked into a long time ago (last year I think?) for the #DRC#Congo investment. I think I got less interested because of what I perceive to be issues (especially in that part of the country), and it being an AIM listing with some share structure issues. I hadn't thought about this for a long time until you just mentioned it today.
I'm glad you mention it though, because I forgot the #Slovakia project was the main project (and I never looked closely at this). And the other investments in #Africa are much more interesting that I remembered. I think you might be onto something here...I will consider calling management in the coming weeks. As you say, it does feel like one that would trade much higher, simply being listed on the TSXV. And it really is a perfect candidate for 'getting an edge' by talking to management. #AIM-Stocks