Hello 2mar$, have been busy in 3d space and negligent of cloud-ATM extraction, cyber-mining, and such as social activities.
Have been working w/ the same team on a second mining opportunity, to do with gold (Au) and antimony (Sb). Because of the diligence I am appreciating the simplicity of "just gold" as far as personal direct investments are concerned. Valuing a gold project is easy. Extracting gold from the ground is not complicated. Marketing gold is superfluous. After sales service for sold-gold is just to count the proceeds.
The Au/Sb project is meant to be either a flip, or where we retain a carry. It is a distress situation.
Our primary project, the gold mining n milling biz, is developing well. We have increased our minable resource at inception a few weeks ago of 52k oz of oxide gold + 84k oz of sulfide gold to current 430k oz (mostly sulfide).
The incremental reserves are actually more, but we are just counting what is in the dumps and tailings left here there everywhere by the ancient miners of 1880s and 1970s. The region was good for oxide ore mining, and few bothered w/ sulfide ore extraction. When the ancients dug up sulfide ore, they just left it in situ. In one case the ancients clearly tried cynide leaching on milled sulfide ore as if dealing w/ oxides and failed. We will complete our sulfide circuit by August / September, but intend to keep our oxide circuit going until we clean the landscape of oxide goodies.
I had wanted at one time to be an archeologist, now have chance.
There should be more gold once we commence our drilling program come December.
My partners are the ones having fun in the field. I am just tallying in the back room of Hong Kong. My next trip to the outbacks should be in march / April of next year.
I have also been busy converting / recasting (50%) part of the equity contribution as a gold loan, to prioritize payback, and to set the precedent of such loans for the future when we raise such from third parties. The loan yields 10%, w/ interest and loan both denominated in gold at 1,700 per oz, and is secured against both the asset of the plant as well as shares in the company - clearly an overkill. The bars are to be 9999 from brand name mint, delivered direct from mint's office per requirement of chain of custody discipline.
Am remembering how to play in the sand box, the games of Go, Risk, Monopoly, and poker.
Cheers, tj |
