Good afternoon
sorry this one did no go out yesterday….today´s report further down….
pretty incredible day - markets initially have been very unhappy with this absolutely unbelievable performance of that guy, which is called Mr.President…but very strong numbers from Labor market, housing sales , PMI in China as well as in US, have turned markets strongly for now at least!
Copper very strong currently, other metals also up - only gold is down a few$.
West African Resources - very strong exploration results from Sanbrado underground! 15m with 20g / 32m with 5 g ( including some very high grade intersections ), 7m with 7,8g from below the existing resource ( new results down to 950m ) are indicating, that resource/reserve, which so far have been used only to 550 m depth, are extending down to 950m ( which is the deepest drilling so far ). On my calculations, every 100m add about 100 mill US$ to the value of WAF…..Sprott has a price target of 1,95 A$ for WAF and while this is not conservative, I can certainly see where they are coming from! This stock remains cheap, and exploration news will continue to be strong from underground drilling, as well as from drilling the Togea deposit, which will be drilled this Quarter. Togea has an inferred resource of 1,1 mill oz at 2,1g. It´s only 14km from Sanbrado, and can easily be trucked. A feasibility study to mine it, and process via Sanbrado, is in progress. This additional deposit has easily the potential to drive mine life for WAF´s project past 10 years, and could replace lower grade ore from Sanbrado open pit. In my opinion, it´s not fully apreciated by the market as yet. WAF will announce guidance later this Quarter for the entire project, and will update Togea this Quarter. The only negative: The massive quarantine restrictions in Australia ( I assume, that quite a bit of expat labor will be used ) have the potential to slow up underground mining a little bit - but that should only marginally change the NPV of Sanbrado.
Marvel Gold ( ex Graphex ) - excellent, first reseource estimate for their recently aquired project Tabokorole in Southern Mali! I had hoped for a resource about in line with the 600-odd thousand released previously, but at improved grades of hopefully 1,4 g. The outcome today was different, and I think better: 910.000 oz at 1,2g are certainly a pleasant surprise and a great result! The resource has not been closed off - there are already some good drill hits from outside this resource, and along strike. So I believe, that there is a strong chance, that this resource can grow by anotehr 200-300-400.000 oz over time. I also believe, that possible depth extensions have not been tested as yet. And you might remember, that MVL very recently bought some properties from Oklo, which are very close and have only been very lightly explored, without any drilling. The company is also in process of drilling their second project, Lakanfla. Geologists are very excited by it - but it´s earlier days here. In any case - great start for MVL, following their frustration with Graphite in Tanzania and their new corporate direction , targeting gold in Mali / West Africa.
Todays news:
equities are disgesting yesterday´s rise…strong early on, they are coming back a bit now. Discussions about the US stimlus program are getting the headlines. Labor market numbers in teh States as well as Personal Consumption have been slightly positive.Manufacturing output in Europe expanded strongly, driven by Germany.
Gold tried to move through 1900 once again, but for now, has come back from it´s highs at 1909 and is trading at 1898…base metals are having a very weak day - down by 2% or so - and I have no idea, why!
Bellevue Gold - announced strong extensional results from Deacon Lode: 9,3m with 5,8g / 1.4m with 63g / 3.5m with 10.6g as well as infill drilling from Bellevue 4.6m with 35g / 6m with 15g / 3.7m with 26g. Looks like generally in line with the current resource of 2,3 millt at 10g ( inferred ) which includes 860.000oz at 11.6g ( indicated ). Again - great results - but BGL is also trading at a great share price!”
Panoramic - the contractor Barminco ahs finsihed the drive ahead of time, which is connecting the mine area with the vertical shaft to ventilate the mine. Barminco will now concentrate on developing additional mining faces, while a different contractor will finish the ventilation , to be fully completed by late March. The mine will be ready for a production decision by that time, which then only should be reliant on a reasonable nickel price. Sometime in October we should also see exploration news!
Have a nice evening
WS
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