Post by
Wangotango67 on Mar 31, 2024 12:17am
HYPO THOUGHTS ...
Part 1 hypothesis
Prophecy Coal and Nothern merge
Northern's 49% with in, Prophecy Coal.
Prophecy gains 100%
Even, buys belleterra's back in rights.
Next,
PCNC purchases all of, Prophecy Coal
Prophecy Coal will own 90% of PCNC and render 10% to PCNC
PCNC will change it's name to Prophecy Platinum
Former Prophecy coal will have 90% control with PCNC 10%
My former post provided a hypothesis,
What if, Northern's 49% and PCNC's 10% teamed ?
= 59% control leaving ( original prophecy coal with, 41% )
Part 2 Hypothesis
Was this 59% control apparent after all the mergers ?
No.
Why ?
Former prophecy crew began with,
UG mine.
Historical reassaying
Silicate minerals outside sulphides ( increasing tonnage )
Exotics reveal
701 - 702 holes
516 underground
80 surface in east zone
70 west zone
= majority all east above and below
2013
Prophecy crew worked hard, restored historicals 300+ - 500+ m underground intercepts
Performed huge surface intercepts
Huge intercepts from surface going benieth ug mine - other side of mountain
Brought north arm into play where reports state some of their best intercepts
Changed name to, wellgreen at end of year.
Upper lower hole come into play**
Zone changes***
Resistence of, including exotics in resource size ( yet, were assayed, % tabulated )
Some reports provide how much more exotics contribute to increasing mineral eq value**
MET tests, dragged with.... keeping plgm's in magnetites**
These last 4 topics = resistence is creeping in
With bore holes rendered ( data from Northern ) 2010 - 2015
reassaying of historicals using better acids.
New drills added with stepouts ( 200m at surface )
Surface holes used to alighn with UG bore and drill holes
Wellgreen was said to have 500m to 800m mineral depths
2015
329 million tonnes ( m + i ) 846 million tonnes inferred ( compliant )
ores outside sulphides included - cutoffs lowered to 0.15% Ni Eq - fronted platinum Eq
Latter part of 2015
prophecy crew replaced with new crew
2015 - 2017
all changed
resource decreases in size.
ore recharacterization
cutoffs tweaked
practical entitlement
boundary changes
Part 3 Hypothesis
what sparked the radical changes in, latter 2015 ?
- Stakeholer format ?
- PCNC 10% + 49% Northern + New Stakeholders ?
How was this Wellgreen project promoted ?
100% owned - UG mine, exotics, 2.5 km drill tested with in 17 km strike.
What contributed most to 2015's resource size ?
UG mine inferred, bore holes, historical reassaying, new big surface drills
1 km surface drilling to west zone - ending of central ( original zones )
Northern included
Do we read in 2023 pfs anything about ug mine ?
does the 2023 pitshell ride overtop, and skirt ug mine ?
Is the ug mine high grade ?
less tonnage more mineral pounds, far higher grades, with exotics
= best of resource ?
2015's resource size compared to, 2017's press ( 86% reduction )
along with ore recharacterization, cut offs, boundaries changed,
sulphides and then gabbs excluded test at later date
could the above provide answer to = resource loss ?
Goes right back to,
2015's resource was already established.
what junior, imbedded interests promoted
and what investors invested in.
2016 video
stated over 50% institutional interest
Using 500 mil shares out ( common )
Suppose Northern 49% and PCNC 10% - maintained their % interest.
New stake holders ( 200 mil ) = 40%
= 99%
Where would Drake and other captital company come in with their % ownerships ?
It would exceed the 100% of holdings, right ?
Lastly,
if junior ( new crew )
funding captital company
make radical changes
to the point stock bottoms out and ug mine is not in play,
plats not pulled from magnetite, other minerals not factored,
would this be - fore or against small shareholders ?
What would common shareholders recieve if,
2024 stats remain same with stock bottomed out ?
vs
Resort back to 2015 resource sizes
pull plats, exotics, other minerals, iron credit, single con
Post is hypothetical speculation.
Therories on how Wellgreen slowly trasitioned over the years
going from great to, what it is now.
What do other ( sm ) common shareholders think ?
Does this hypothetical speculation post accurately describe a time line of
events that may have contributed or explain how Wellgreen deposit
lost value over time ?
Cheers...