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@marketwiredLion One Announces Non-Brokered Private Placement @marketwired/lion-one-announces-non-brokered-private-placement-32c9e$LIO$LLO$LOMLF$LY1 The company has arranged a non-brokered private placement of up to 45 million units $0.92 per Unit for proceeds of up to $41,400,000. Each Unit consists of one share and one warrant, each ewrrant exercisable at a price of $1.35 per share and expiring 18 months from the date of issue. Proceeds will be used to fund exploration and development of its Tuvatu Gold project and working capital.
@ctoivoExcellent news from LION. I'm particularly interested in whats beneath and around the old Kingston mine. Incredible numbers, and its not just gold.
A shaft was sunk to 15 m and a drive of 10 m was made at the bottom of the shaft (reported that two shipments of ore were made, the initial shipment being 5 to 7 tons assaying 33% Cu and 85 g Au and 130 g silver per ton. The second shipment contained an unknown tonnage of ore averaging 40.6% Cu and 176 g of Au and 130 g of silver per ton.
In 1952, one ton of selected ore containing 20.3 % Cu and 460.3 g of silver and 98.9 g of gold per ton was extracted .
@dirkdigglerFor a small high grade producer with good exploration potential, I'll turn to $LIO. Recent infill drill results include 71.41 g/t Au over 8.41 meters including 126.67 g/t Au over 4.56 meters, drilled from surface to a vertical depth of 92 meters.
@dirkdiggler@tsetka ~ there is a guy over on Mexico Mike's, his username is 'Ctoivo', who has followed and communicated with the company since its inception. He might be here on ceo.ca as well. But go there to get more info than you can probably digest in a day. (in deference to Tommy and crew, I won't post a direct link).
@DJSIncredible infill hit and just picked up more this morning. $LIO is really puzzling to me -- for some reason the market really seems to discount, or even overlook, its many positives, including this last drill result. Strange...(and a bit frustrating).
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@statesideComanus Rising Podcast - November 27, 2016. http://www.comanusrising.com In this episode of the Comanus Rising Podcast we talk about gold and the gold stocks, the monster moves in the base metals, why CEO.CA should be viewed daily, and news releases from the following companies: Winston Gold Mining $WGC Doubleview Capital $DBV Point Loma Resources $PLX Ximen Mining $XIM International Frontier Resources $IFR Eco Oil & Gas $EOG AQM Copper $AQM Northern Shield Resources $NRN Morumbi Resources $MOC Pasinex $PSE Playfair Mining $PLY Tajiri Resources $TAJ Tinka Resources $TK Lion One Metals $LIO Sokoman Iron Corp $SIC Benton Resources $BEX We talk gold, silver, PGE, copper, zinc, lead, uranium, oil, and natural gas.
Here is my high level review of Lion One
After some homework and talking with the company regarding my investment in Lio, here is my summary on what's ahead for Lion One:
Ongoing drill results
• Ongoing exploration within the 384 hectare mining lease
• Contemplating the Ansteel MOU for 80% of the US$50M capex (development funding)
• Once development funding is secured there will be an approximate 18-month buildout to production
• Could begin producing gold in 2018
• Navilawa Caldera tender (potential to increase highly prospective land package to +30,000 hectares)
Lion One commenced an ongoing drill program targeting both infill and extensional targets. They have one surface rig currently operating and have one underground rig onsite ready to be deployed once the dewatering progresses (initial infill results intersected 8.41m @ 71 g/t Au). Due to the fact they raised $38M in Sept, they now have the budget for an aggressive exploration program to expand the resource and continue to enhance the mine life. The exploration potential is significant both within the Tuvatu deposit and the surrounding mining lease prospects. The potential increases exponentially with the consolidation of the Navilawa Caldera complex. The current deposit only extends approx. 250m from surface while the neighbouring operation (11m oz Vatukoula gold mine) has mined to a depth of 1300m+.
Gold Price Sensitivities for Tuvatu:
Payback: 21 months
NPV after-tax: $US65.50M
CF after-tax: US$87M
Payback: 18 months
NPV after-tax: $US86M
CF after-tax: US$112M
Payback: 16 months
NPV after-tax: $US108M
CF after-tax: US$138M
Payback: 15 months
NPV after-tax: $US129M
CF after-tax: US$163M
Read more at http://www.stockhouse.com/companies/bullboard/v.lio/lion-one-metals-ltd?postid=25577619#QQT4xERUgoxoRdap.99
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@DanO@CriticalInvestor Those Mexican salars are not that big. If they start drilling and put a few holes in there and other than assays do some minimal pumping tests etc they could estimate a resource (not reserve) in no time i.e. before getting the permits for solar evap ponds. They won't need too much money to step up and build those ponds or buy a few pumps and such. Many hardrock miners are going into production without a FS because it is too expensive (and time consuming). Of course it is risky to do that but sometimes might be the only option. For larger projects yes it is absolutely necessary. Btw $knt does not have a FS and goes into production. $lio does not have one and intends to start production as well. These two (and many others) are large and complex deposits that should have a FS but they chose not to. And they are raising money. Serious money.
@ctoivoPP has been closed for months. They have lots of dough now. The decline is more than half dewatered and they are scheduled to be doing underground infill drilling this week.(and continuing above ground) Still waiting for I's dotted and T's crossed with Ansteel.
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@ctoivoThey were planning on starting undergound infill drilling this week in the Nasivi zone where mining is planned to start according to the PEA Potential Mine Plan..
Here's a list of some of the sampling that they'll be targeting, n. Previous operator Emperor Gold Mining conducted channel
sampling and geological mapping about 16 years ago. located approximately 250m inside the decline, at a vertical depth of 80m from surface.
2.40 meters of 74 grams per ton AU
3.30 meters 79g/t
3.40 meters 79g/t
3.00 meters 83g/t
3.45 meters 84g/t
2.95 meters 92g/t
3.60 meters 109g/t
3.10 meters 116g/t
2.95 meters 118g/t
2.50 meters 122g/t
2.80 meters 203g/t
2.35 meters 290 g/t
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@drezinhoGood to see $LIO waking up a bit today. This one's been in sleeper mode. One of the most prospective high-grade deposits out there today.
@VaughanCaller question on lion one metals. $LIO deposit in #Fiji. They've done a PEA for a relatively small deposit. They managed to raise $85 million last year, moving development forward but keeping the exploration ball rolling as well. Could be prime for a buyout in the future. #marketcallPDAC
@ctoivoExcellent news. Lots of high grade findings outside of the initial PEA resource estimates. IMO its only a matter of time til the resource doubles and, likely much more.
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@statesideHappy Mother's Day to all of the mother's out there! Stateside Report Podcast - May 14, 2017 - http://www.statesidereport.com In this episode of the Stateside Report Podcast we talk about the week in gold, silver, base metals and the stocks and then we wrap up with news of the week from the Canadian junior exploration sector including: Galway Metals $GWM Cartier Resources $ECR Kootenay Zinc $ZNK Arizona Silver Exploration $AZS Mariana Resources $MARL Thor Exploration $THX Lion One Metals $LIO Inventus Mining $IVS Alexandria Minerals $AZX Antler Gold $ANTL Vanstar Mining $VSR Tomagold $LOT Alto Ventures $ATV Northern Dynasty Minerals $NDM We talk gold, silver, lead, zinc, nickel, copper, oil, gas and uranium.