Why WE BUY (Reminder)
This is a recap of the actual finds, pending NRs, actual and potential value of RSG.
Starting by the Conclusion, we should be as follow ; (1 NR next week, 1 NR the week after and 1 NR every 2 weeks during 1 year after)
A- Around March 20th, Next Mandiana results - potential of 1,50 $
B- Around March 27th, next 8 holes from Bakoudou - potential 0,06 $
C- Other 8 assay results per 2 week for 1 year from Bakoudou - potential 1,5 - 2 M ounces
D- Around end May - Belleterre assay results.
ARE YOU SURE YOU ARE DOING A WISE MOVE BY SELLING YOUR SHARES NOW...
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1- MANDIANA ;
The drilling program ended January 20th. It took 3 weeks to complete 4500 m of drilling, 54 holes at 80 m depth which are spaced at approx. 10 000 m2.
ASSAY SCHEDULE; The first 12 holes were announced February 14. So approx. 1 month to get 12 lab results from 1 lab. Samples were sent to 2 different labs. So in theory, we should received about 24 assays from the 2 labs per month. Say the remaining 42 samplings were sent on January 31, it will then take about 1,75 months (50 days) to received them all. REMAINING ASSAYS ARE DUE FOR MARCH 20th...NEXT WEEK.
ACTUAL DISCOVERY : total 233 m*g/t for 12 holes x 10 000 m2 : 165 000 ounces. Value = 165 000 x 250 $/120M : 0,34 $
POTENTIAL : Termite mounds show gold uniformity all over the property. 165 000 x 54 /12 : 750 000 ounces. Value = 1,50 $
2- BAKOUDOU ;
On decembre 20, the drilling started and the second drill arrived on site. In February 26, 15 holes were completed and sent to lab. So 2 months x 2 drills = 4 month-drills => 1 hole per week per drill. Say they got some delays, production should be at least 2 holes per drill per week : 4 holes per week.
Throwing some figure, program is 4,2M$ (includes grab and others) - remain approx. 3M$ drill / 200 $/m : apprx. 15 000 m drilling program. Each holes are about 80 m. so far -> 200 holes program.
Based on 4 holes / week, it will take 50 weeks to complete the program.
Assay return period. The cores were sent to lab Feb. 26 and results were announced March 13 : 2 weeks for 8 results : 4 assay results / week which corresponds to assay return from Mandiana.
In theory, based on drilling 4 holes per week and a 2 weeks turn over from the lab, we should get 8 results every 2 weeks since the drilling program is well set-up.
So we should receive 8 assay results twice per month. Based on the last results, we got 8 hits = 486 m*g/t x 2000 m2 spacing x 2,4 t/m3 x 1/31 : 75 000 additional ounces OR 9 000 ounces / hole...0,007$/share / hole.
According to the geophysics and grab sampling, the property shows uniformity. 200 holes x 9 000 ounces = 1,5M ounces approx. + 277000 already proven = close to 2M ounces.
3- BELLETERRE ;
400 tons sampling returned 3 g/t. We just comleted 4000 m of drilling, 24 holes on February 01. Considering 1 month delay for lab overloading and a return of 500 m core results/week : 8 weeks. So this bring us around end of May for Belleterre results.
4- MANDALA ;
We actually have 0,10$/share in proven alluvial resources. A JV agreement is in progress to explore the Kimberlite.
Originally compiled by sylbrother
re-posted @
b321 Tks