ARK, KDK, CAPT, GQC
Kazakhstan explorer Arras Minerals aka ARK released a bit of a mixed bag of a news release.
First off, the bad news, that they have terminated their option agreement to acquire the Beskauga property. Reading between the lines, they did not have the money to pay the $15M that would been due shortly, nor could they find a partner to help or modify the agreement with the optioner. Fortunately they still have many promising properties to explore.
On the Teck Alliance properties they have completed a geophysics programme to refine targets and begin a 5km drilling campaign.
Turning to their 100%-owned properties, at Elmes they have completed more geophysics on the Berezski target that generated much excitement and significant share price gains of late, and a drill will be arriving shortly to begin a Phase 2 drill campaign. They have also completed more geophysics on the Aimandai target and will begin drilling in the coming months.
So now we wait to see if the assays from the current drilling can match what was found earlier.
Message 35161536
Kodiak Copper aka KDK released results from metallurgical testing of samples from their MPD property in SE BC. The recoveries for Cu, Au, and Ag were all good using conventional flotation, and the testing produced a salable concentrate with high gold values and few contaminants. Farther testing will check whether more gold can be recovered from pyrities.
Meanwhile, we wait for the initial Resource Estimate on MPD to be completed.
Message 35161554
Capitan Silver aka CAPT continues to get their ducks in a row on their Cruz de Plata Ag prospect in Mexico. Over the last while they have substantially increased the size of the property and this now control a longer strike length of the veins they are following. Now we get news that they have eliminated a 2% NSR that would have covered (I think) the entire property package in return for $1M in cash and shares.
There are still two royalties which CAPT says 'are under contract to be retired and eliminated'. I am not sure what that is supposed to mean, unless they are merely referring to the terms under which they can be bought out. I guess we will find out whether they are already gone or whether they are being eliminated in due course. I have a query in to CAPT to clarify this.
I used to think royalties like these were no big deal, but experience has taught me that eliminating even royalties of this size can make all the difference for the economics of a project.
ca.finance.yahoo.com
Goldquest Mining aka GQC is up big today on news that the Dominican Republic bureaucracy has released the terms of reference for its EIA application for the development of its Romero Cu/Au/Ag mine in the DR. Next up is carrying out the environmental monitoring necessary to complete the EIA. The company believes, and I am hoping. that all the heavy lifting is done.
The PFBS for Romero, completed in 2016, delivered an IRR of 28% using a gold price of $1300/oz and a Cu price of $2.50/lb, so the forthcoming FBS using more current metal prices should deliver much better numbers. But do keep in mind that it will be years before any mining gets underway.
Message 35163930 |
