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@Excelsior$AVK$AVNZF Avnel Gold Materially Improves Economics of Kalana Main Project in Optimisation of Definitive Feasibility Study
(Marketwired - Jan. 9, 2017) - #Gold#Development#Africa~AUfrica
"The Optimised Feasibility Study (“OFS”) results indicate an increase of 25% in the after-tax NPV to $321 million, at a 5% discount rate, compared to $257 million estimated in the DFS and an improvement in the after-tax internal rate of return (IRR) to 50%, compared to the 38% IRR in DFS at a gold price of $1,200/oz."
"Initial capital expenditure has been lowered by $25 million to $171 million and, accounting for pre-commercial production revenue generated from processing historic tailings from the existing underground Kalana Gold Mine, the net funding requirement to commercial production, including contingency, is estimated at $139 million, approximately $24 million lower than previously estimated in the DFS."
@MiningBookGuyU.S. Treasury Department Announces Easing of U.S. Sanctions Against The Republic of the Sudan @marketwired/us-treasury-department-announces-easing-of-us-sanctions$ORG#Sudan#UnitedStates#geopolitics#ArabianNubianShield#index
[Orca Gold Inc. is pleased to communicate that on January 13, 2017, President Obama signed an Executive Order "Recognizing Positive Actions by the Government of #Sudan and Providing for the Revocation of Certain Sudan-Related Sanctions.]
["This announcement by the U.S. Government is a huge step for #Sudan on its path towards political and economic re-integration with the West. The Government of the Sudan is to be congratulated for its efforts in working towards international acceptance and social and economic improvement for its people...We look forward to introducing our company to investors that up to this point have been restricted in investing in $ORG and #Sudan."]
@MiningBookGuyis that you @Brownie? on $SCA$SWA news: @marketwired/sarama-resources-reports-q4-2016-drill-results-for
my initial impression is that it's just OK...should increase the resource, but no wide intersections, and no big discoveries (though they might be onto something). it's immediately followed up by a bigger program, plenty of drilling coming.
for those paying attention, keep in mind both NRs are ONLY for the Karankasso JV, 69%/31% Savary/Sarama $SCA / $SWA. this news is far more influential for $SCA, because it's their only project
anonymousMBG do you see the offer on your $THX at .10
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@MiningBookGuy@Brownie, is that still you? first of all, it's not 'my' $THX. but i do still own significant shares.
and i do see it, and honestly, very surprised. i guess someone really wants out, despite the previous raise being completed at 0.145 CAD with no warrants.
what to do now? no way i am selling here. i like the newsflow I've seen, and actually expect news on all 3 projects in the coming months. i also noticed the website design was just updated for the first time in years: https://www.thorexpl.com/
it's an odd one...on very, very few radars, and very illiquid. but tons of progress being made. if anyone has any specifics on why there might be selling, i'm all ears
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anonymousNot sure why I'm anonymous because I'm signed in.I was thinking it was someone placing stock but the order has sat there a bit long for that
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@MiningBookGuy@Brownie - ok, it's you :)
just wanted to make sure because ~aufrica posts aren't supposed to be anonymous, and i can 'kind of' check to see who posts based on matching the colored dots. that's one of the benefits to #panels for me.
as for your answer, i have seen 'big sells' show up from time to time. but overall volume remains low, and it's a weird stock for a lot of reasons (outside of the Vancouver/Canada scene, investors from Nigeria, etc.). this is potentially an opportunity, but i'm just holding my shares for now. I might call Segun in the coming weeks. but placements have been successful so far, and progress is being made. maybe a long-time holder just wants out. $THX
@MiningBookGuy@Brownie RE: https://ceo.ca/~aufrica?54e20a3ded30
Someone (anonymous) wiped out the ~1M shares that were sitting at 0.10 CAD for $THX. Possibly a steal since the last raise was at 0.145 CAD. But I have no idea if more sells are coming. I'm holding my shares looking forward to news on the 3 projects.
@MiningBookGuy$ORG - there's clearly some of interest in this company, but not too many comments (though thanks @Empire and @martin for providing a few). I'm reposting back-to-back NRs releases today and yesterday for the ~AUfrica panel (particularly relevant as I'll explain below). I think MANY new people will 'discover' this company later in the cycle. But I'll give you one REALLY good reason to start paying close attention now:
The 2 NRs:
The 2nd NR is great, and a continuation of "pre-PFS" work for the #Sudan#gold#development project. Much of this is documented in the $ORG room. #Sudan is getting better in both perception and reality (even if some refuse to believe this). #Water is likely the primary issue, and hopefully here some positives on this in a future NR.
But the MAIN reason to start paying attention now is the first NR, where FINALLY $ORG has diversified into a 2nd country, one of my favorite 'emerging jurisdictions' in #WestAfrica, The #IvoryCoast. This is VERY exciting! The best summary is in this picture from the NR: http://media3.marketwire.com/docs/4505Orca.jpg+
HUGE potential land package here, some $ORG is getting on their own, and some from $K, who is now becoming a strategic shareholder (assuming this deal goes through). Intuitively, I'm most excited about the land adjacent to Tongon in the north, which is $RRS.L#Randgold's mine in #IvoryCoast. Keep in mind that Mark #Bristow is repeatedly on record saying #IvoryCoast is the most exciting jurisdiction in all of #Africa for #gold#exploration right now.
incredibily, there are very few companies juniors exploring here. But the mid-tiers & majors prove interest is great, I'll list a few: $RRS.L$PRU$PRU.AX$TGZ$TGZ.AX$EDV$RSG.AX$NCM.AX ...and the only other Canadian listed junior explorer/developer I can think of is $MARL$MARL.L. Anyway, $ORG immediately becomes the 'go-to' junior for #IvoryCoast#exploration exposure ($MARL is very interesting, but a lot more value tied up in Hot Maden in Turkey, so it's not as good of an 'ivory coast exploration' bet right now). In addition, this immediately de-risks $ORG with 2 separate jurisdictions. it immediately brings up thoughts of " #RedBack Mining 2.0" (which was already happening, but now solidified...keep in mind Redback was in #Mauritania and #Ghana). AND just the fact that #IvoryCoast is arguably the best place in #WestAfrica to find elephant deposits (and doesn't hurt the elephant is mascot for the national soccer team!). ok, getting off topic with that last one, but this news was worthy of a write-up, and i hope a few new people start paying attention! #index
@MiningBookGuy@excelsior@zadman@highheat and others - wanted to make a note on #Mali with $AVK and $HUM.L$HUMRF. Both have positive price action and newsflow recently. will be very interesting to see if either are #takeover#takeout candidates in the near future. i don't own either play, but i appreciate you guys and others following them and adding news and your thoughts every now and then :)
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@Excelsior@MiningBookGuy - Yes, I do own both $AVK$AVNZF and $HUM.L$HUMRF and feel both these #Development stage companies are 2 of the most likely a #takeover#takeout targets in #WestAfrica . Their resources are defined and expanding with more exploration, the permitting is well underway, and the projects are derisked and on track to go into production later this year. Seems like they are now the low hanging fruit for a Major or Midtier looking to expand their presence or diversify into the West #Africa#Gold mining explosion.
Some company will still end up grabbing $ROG as well, but it's shares are already priced accordingly. $ORE is still a target as well now that they are redefining their ore body with more clarity. ~AUfrica ...... You gotta love it.
@MiningBookGuyMineAfrica at PDAC - March 5-8, 2017 http://www.mineafrica.com/MineAfricaatPDAC/mineafricaatpdac-about.htm#events
Partial Quote: "Tuesday March 7, 2017, 07h30 - 11h30, Sheraton Centre Toronto Hotel The morning opens with a networking breakfast with an opening address by His Excellency Professor Alfa Oumar Dissa, Minister of Energy, Mines and Quarries, Republic of Burkina Faso and a keynote address by John Dorward, President and Chief Executive Officer, Roxgold Inc., followed by concurrent presentations by African Mining Ministers, mining companies, and advisors to the mining industry (law firms, engineering firms, consultants, etc) in four seminar rooms." #BurkinaFaso$ROG#Africa#PDAC#MineAfrica#index~AUfrica
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@MiningBookGuyBarrick Supports Acacia-Endeavour Merger If Good for Investors http://www.bloombergquint.com/markets/2017/02/16/barrick-supports-acacia-endeavour-merger-if-good-for-investors-iz8qziz7$ABX$ACA.L$EDV#Africa#index
[Acacia and Endeavour remain in “preliminary discussions” about a merger, Barrick President Kelvin Dushnisky said Thursday in a phone interview. “From Barrick’s perspective, if there was a deal to be made that made sense for our shareholders, we’d be supportive.”
Shares in Acacia soared last month after Acacia confirmed it was in early-stage talks with Endeavour on a tie-up that would create a company with a combined value of about $4 billion.
Barrick is not actively seeking other buyers for its Acacia stake, Dushnisky said Thursday. The world’s largest gold producer would be “open-minded” about any unsolicited offers for the asset, Dushnisky added, declining to say if Barrick has been approached.]
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@MiningBookGuy$WAF$WAF.AX - West African confirms Sanbrado as +150,000 ounces per annum gold producer by 2019 http://www.asx.com.au/asxpdf/20170220/pdf/43g3k1shp7r36f.pdf#gold#BurkinaFaso#WestAfrica#Africa#index
Some of the Highlights:
All amounts stated in US dollars. Base case is stated on a 100% project basis at $1,200/oz
Sanbrado open pit feasibility study confirms:
Forecast annual production of 150,000 ounces over the first 3 years of project and 93,000 ounces per annum over 9 years of current mine life (LOM)
124% increase in Indicated Resources at M1 South, driving new project economics
103% increase in Probable Reserves now 894,000 ounces (16.8Mt at 1.7g/t Au)
Two year pay back on $131 million capex (including pre-production mining and contingency)
Low All-In Sustaining Costs (AISC) of $708/oz over the first 3 years and $759 over LOM
Strong economics - pre-tax NPV5% of $143m, IRR 27% and post-tax NPV5% of $100m, IRR 21%
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@MiningBookGuySome additional $WAF$WAF.AX quick comments from me:
-nice early production...but really, this is just below 100k oz/year life-of-mine production. which is fine, but the 150k oz/year headling is pushing it, IMO
-i like it that they use $1200/oz gold as a base case, and that it seems to work (few projects do that this price). but at this market cap, seems fairly valued to me...yes, there is upside, but 5% NPV is NOT conservative, and i think this implies there's a lot more work to do before an acquisition (assuming gold prices stable)...
-leading to past point: i think it's very odd that this is now called the "open pit feasibility study", and they are immediately working on a "optimised definitive feasibility study". originally, i assumed (perhaps wrongly), that THIS study was going to be the game-changer, and full financing and/or acquisition could immediately follow. Now I'm thinking they are front-running these results (realizing while 'good', they are definitely not 'great'), and going for a homerun by incorporating more deeper high-grade. This COULD work out fine. But to me, it makes for a riskier proposition as a speculation.
-while I'm glad i did NOT speculate on this in the last few months (while still wishing I DID a year or two ago), I am going to continue to hold off and watch closely. I hope for the best for $WAF, because it will be good for everything in #BurkinaFaso. But overall, this is "slightly-to-moderately" disappointing for me. Still, I need to read this NR much more thoroughly, and listen to the conference call which is happening soon (i'll try to listen to a replay later).
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@MiningBookGuy$PRU$PRU.AX - Perseus updates mineral resource estimate at Bele http://www.asx.com.au/asxpdf/20170220/pdf/43g3khzj359q0f.pdf#gold#IvoryCoast#WestAfrica#Africa#index
The updated global Indicated Mineral Resource for Bélé, estimated as at February 2017, is estimated as 1.90 million tonnes grading at 2.0g/t gold, containing 130,000 ounces of gold. A further 0.42 million tonnes of material grading at 1.8 g/t gold and containing a further 25,000 ounces of gold are classified as Inferred Resources.
The gold contained in the combined Measured and Indicated Mineral Resources of Sissingué and Bélé is now estimated to be 830,000 ounces of gold which is less than 6% lower than the original Sissingué estimate of 880,000 ounces of gold.
My Note: this is attempting to compensate for the downgraded Sissingue resource in a recent NR. There is definitely significant exploration potential as noted by the CEO in this NR.
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@MiningBookGuyHere's an EXCELLENT post from a very private ceo.ca friend who gave me permission to re-post it, very fitting for the ~AUfrica panel!
Referring to #Africa:
[It's a massive continent, loads of risk/opportunity, many geographies, religions, political and cultural differences. You can't learn enough to be an expert without following closely a lot of moving parts, but I think many N.Americans and European investors still are only vaguely aware of what is going on. The former colonizers left a deep mark in many places and some of the negative history has followed them home as it is intertwined with their own.
The last decade of 'silent' Chinese and Japanese investment will soon bear fruit for (hopefully) everyone. I think generally Africans want to build up the continental infrastructure, even though there is a clash of powers, and the Asians are perceived more as partners than 'occupiers.'] #Opportunity
@MiningBookGuyInteresting news on $PRU$PRU.AX to repost to ~AUfrica:
Chairman of Perseus Mining Limited to retire @marketwired/chairman-of-perseus-mining-limited-to-retire
This is easy to overlook. While I've been disappointed in $PRU relative to other emerging mid-tiers, they still have some very interesting growth prospects, with focus in #WestAfrica. Notice that Sean Harvey, incoming CEO, is also Chairman of $SWA. A project similar to what $SWA has in the #HoundeBelt / #SouthHoundeBelt would be a perfect size for a company like $PRU right now: Sissingue is on the 'smallish' side, and Yaoure not only needs to be advanced further, but is huge CAPEX relative to $PRU's current overall size (but in #IvoryCoast).
$SWA's cluster of projects is similar to what $GRY.AX had at Banfora in current size (both in #BurkinaFaso). And keep in mind $GRY.AX was acquired to instantly turn $TGZ into an emerging mid-tier. $ACA.L is still by far the most likely acquirer of $SWA at some point...but I hadn't really thought of $PRU in the running until now. That is significant.
There's more to say. But this is a PERFECT example of the type of news that's easy to overlook, but could change momentum for a company (maybe Sean Harvey will have much more influence as Chairman instead of just being on the Board, and he's a significant shareholder in $SWA). Also interesting to note that Sean has been Chairman of $VIT and many other companies for a while.
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@FundamentalAnalysis@MiningBookGuy Please could I have your expert opinion in regards to Gold mining in Mali. I still hold a couple of companies in that jurisdiction who trade at very low valuations. Why does Mali cause companies to trade at such a discount? Is it really that risky? I understand govt typically takes a free carry so you have to adjust NPV's but still....has there been nationalisation issues in the past? #newbies#mbgtrends
@MiningBookGuy@FundamentalAnalysis - good questions! yes, i can give you my 'pseudo-expert' opinion on Mali gold mining. Within the next hour or so, I'll write a big post listing some Mali gold companies to watch, and attempt to answer some of your specific questions. #mbgtrends
@MiningBookGuy#1 #Mali —
First Off - *NOTE - I am posting this in #newbies because @FundamentalAnalysis tagged it. But please keep in mind #Mali is a ‘risky’ jurisdiction no matter how great I make it sound, and think of everything below as a good place to start your own research/ Do Your Own Due Diligence #DYODD ).
With that out of the way, this is my attempt at a comprehensive response to @FundamentalAnalysis. There’s always more to say, and I’m not a ‘true’ expert on this…but this is my take on #Mali:
-I believe #Mali#gold companies don’t trade at any more of a discount than other #WestAfrica gold companies right now. They absolutely did trade at a relative discount at the height of Mali-focused terrorist attacks back in 2011-2012.
-Importantly, even during these attacks, I don’t believe a single mining property was at risk. Yes, there was always a chance the government could have been overthrown, or the country divided in But we never got to that point, and arguably #Mali was always ‘stable’ as a mining jurisdiction.
-I do not know of any nationalization issues in #Mali. The biggest risk I currently see is that the government has been on a tax grab…I have no idea if the #Mali govt or $RRS.L Randgold is more at fault for the tax dispute. Here is a link I posted back in October with that news:
I would be concerned if we see more of that.
Actually, I’m going to split this into 2 posts. Post #2 coming up in ~15 minutes... #mbgtrends
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@MiningBookGuy#2 #Mali - *Note - I may have made mistakes here. #DYODD@FundamentalAnalysis - so you didn’t ask about specific companies. But it fits my agenda of promoting $DAU right now. And @Excelsior posted a few good ones already. I think it’s worth quickly exploring the landscape. I’m finding a lot of positive momentum in #Mali#gold right now. Some reasons and a company list to follow:
I think comparing #Mali to #BurkinaFaso as #gold focused jurisdictions in #WestAfrica is a great starting point. They are both ‘maturing’ (with #Mali more mature than #BurkinaFaso). They both depend heavily on #gold. They arguably have the 2 best #gold mines anywhere in the world in #development right now (these are #Fekola for $BTO in #Mali, and #Natougou for $SMF in #BurkinaFaso).
I say they are the ‘best’ when you combine how high-margin they are expected to be, with size. But this point is key - #Mali is a land of elephants, and #BurkinaFaso not as much. #Natougou is going to be one of the larger Burkina mines looking at ~200k oz/year production. #Fekola is already quite big at ~350k oz/year expected production…but it already seems like this can increase, AND there are plenty of mines already around this level (or at least closer to this than most of what we find in Burkina).
I think the Senegal Mali Fault Zone ( #SMFZ ) is key. So many huge mines there…including #Fekola which is the newest. I really like #BurkinaFaso as a jurisdiction. But there is no trend in Burkina that rivals the #SMFZ in #Mali. Also keep in mind this is as far away as you can get from any possible #Mali terrorist activities…in #BurkinaFaso, i put mines in the ‘northern’ part of the country at generally higher risk than those in the South (though to be fair I don’t think #Essakane for #IMG has had any problems despite bordering #Niger)
Anyway, LOTS of interesting comparison. But I will keep hitting home that #SMFZ is special, and I’m going to briefly go through a company list taking note of this (*Note - this might not be an exhaustive list. but it’s a great start for looking at #Mali#gold companies #newbies ):
#Producers$BTO - IMO, #Fekola best #development project in the world for this diversified mid-tier. This WILL bring more attention to #Mali as it approaches production. on #SMFZ$RRS.L#Randgold - #Mali is their bread-and-butter, where it all started. If there’s one company to research the history of for #Mali historical success, it’s $RRS.L. Some great mines on #SMFZ#AngloGold Ashanti - a big one, a project with $IMG on #SMFZ$IMG Iamgold - not only a project with #Anglogold. But they just fully acquired $MXI, possibly creating a new disctrict combined with their #Senegal#Boto project on the Senegal side of #SMFZ. this is all near #Fekola, which is interesting
$ACA.L - they have just entered #Mali recently for early-exploration, on #SMFZ! Important to show that large developers like $ACA.L and $IMG still looking early-stage
$EDV - Tabakoto/Segala production close to $RRS.L on #SMFZ#RSG.AX - huge #Syama mine NOT on #SMFZ, showing there’s a lot of potential in other parts of #Mali as well ( $RRS.L also has #Morila which is near the end of its life in a different part of the country)
These are standalone #developers. It’s exciting that 2 of them are gaining a lot of positive momentum
*Note - none of these are on #SMFZ, that i’m aware of
$HUM.L - #Yanfolila project. I questioned this one for a while after some hiccups. LOTS of positive momentum right now, gaining attention.
$AVK - this is ready to be developed or acquired. Not sure what the hold up is. But also positive stuff going on…we’ll see what happens next!
$AGG - smaller project. Not sure what’s going on. but could be built soon
$BGS.AX - the development project is lithium. Has gotten a lot of hype, so it’s worth noting. They have an earlier stage #gold project near #Morila.
i think at least one more? can’t remember right now. but there’s significant activity with these.
#Explorers$MXI - worth noting again since it was just acquired by $IMG, with project on #SMFZ$AGZ - they are earning-into $ALO.L property on #SMFZ. Seems prospective. But I would like them better if it was the other way around.
$ALO.L - definitely some interesting properties on #SMFZ. But their focus is in #Zambia. Not helping that it’s AIM listed.
$LGN - this one looked interesting to me for a while…but seems like a #zombie right now…maybe will come to life again
$GBE - this is a new one, could be interesting. But I think $BGS.AX used to own their properties (this is all around #Morila). I don’t trust the prospectivity yet.
$KOD.L - i consider this a shady little company (i owned the prior ASX one). it does lithium and gold. definitely worth following and it’s made some people a lot of money. but watch out, and listed on AIM
$OKU.AX - i really like what these guys are doing! i think it’s the best potential #Mali#gold#exploration right now. Problem? too expensive for me, just too much of a premium for the the last 1-2 years.
And of course to end… $DAU. i have given many reasons I really like it, especially at current valuation. But very key to all of this is 2 properties really well situated on/near #SMFZ. I don’t think any of these other explorers are looking to get 3 JVs soon and are so well situated ( $OKU.AX the closest, but drilling on their own).
Anyway, there’s LOTS of activity going on n #Mali! I could have easily missed some companies, but this is a good way to start. Happy Hunting! #DYODD#mbgtrends