Hobnob34
21 Feb 2017
No trades? Not a single trade showing today, it's almost like this has been suspended.Given yesterday's activity it would seem apparent that the placing price is 3p on the nose
Temujiin
17 Feb 2017
'starter pit operation' I like this bit of the 'Planned Works' section'Phase 2· 3,500 metres of HQ diamond core to upgrade the east section Mineral Resource estimate of the Central Zone from Indicated to Measured category for a potential **starter pit operation**It may take 2 or 3 years but I think they are aiming to prove sufficient gold to get a cheap mine going asap, and then hopefully explore the area using revenue.I also think the wording of (£3 to £4.5 million) 'WILL be raised via an equity subscription by existing and new investors at or around market price', together with their previous words about the 'phone ringing', indicates they have the money already lined up to investors wanting in early. I suspect the dilution price will be between 3.1p - 3.3p.I don't have a problem with dilution, as long as they use it wisely and quickly to prove up more gold and progress to BFS, and don't squander it on admin and overheads.
Damocles666
17 Feb 2017
Re: Equity Raise Of course the company will need to raise equity at some point.It's a shame they included the mention of an equity raise in an RNS that might otherwise have taken the SP higher, especially if they'd allowed breathing space to follow it up with some judicious PR. As it stands, I'd be surprised if they get equity away at more than 3p. And the extra shares may continue to weigh heavily on the prevailing price.
A Mushroom Kept in the Dark
17 Feb 2017
Re: Equity Raise I saw that but guessed that was always going to be the case for mineral explorers The minerals aren't going anywhere and realistically they are looking to improve the attractiveness to potential suitors. Whether that comes in 6 months a year 3 years I don't know but if it hits the right spots then it increases the value significantly. Alternatively would you consider a JV using others experience and knowledge to mine it?Or mine the easy stuff ourselves and use the funds recovered to find more resource (taking another xx years)There is more than one way to get to the same destination and look at the rail system where I travel from Peterborough to LondonSlow train - takes 90 mins ish Fast train twice as expensive but in 46 mins In Landore terms would you rather get to 10p in a year with extra shares in issue or 10p in 6 years with no extra shares in issue? (both hypothetical of course)I know nooothing
Damocles666
17 Feb 2017
Equity Raise That's the only cloud.At what price/dilution?
A Mushroom Kept in the Dark
17 Feb 2017
Re: MAIDEN RESOURCE ESTIMATE Low discovery costs were exceptional and I agree that this could be prime for a larger company to come in or could there be an interest to JV or progress alone.Either way it looks good and a capital raising now could reap significant benefits I know nooothing
Antiques Of Woodstock
17 Feb 2017
Re: MAIDEN RESOURCE ESTIMATE Good morning AllGood news reference the maiden resource estimate with a fund raising to be completed within one month as expected to facilitate future works.Providing all the required funds are raised - with low discovery costs to date with the same moving forward - this could end up being a substantial gold field with anticipated future low cost - high yield gold production - making it extremely attractive for an early take over.Good luck all...
Temujiin
17 Feb 2017
MAIDEN RESOURCE ESTIMATE MAIDEN MINERAL RESOURCE ESTIMATE AND REPORT BAM EAST GOLD DEPOSITJUNIOR LAKE PROPERTYLondon, United Kingdom - February 17 2017 - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company"
is pleased to present the Maiden Mineral Resource estimate and report for the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada ("BAM East Gold Deposit".Highlights: -- 301,000 ounces gold Maiden Resource Estimate for the BAM East Gold Deposit. -- One year from discovery to Maiden Resource Estimate. Discovery drill-hole 0415-517 drilled in December 2015. Resource cut-off 3(rd) January 2017.-- US$5 per ounce of gold discovery cost with the drill success rate at 36 ounces of gold per metre drilled (8,436 metres total).-- 98 percent combined gold recovery by gravity concentration followed by cyanidation leach extraction of the gravity tail.-- Review by RPA has been successful in outlining the favourable BAM Sequence along a strike length of approximately five kilometres.Commenting on this report, Chief Executive Officer of Landore Resources, Bill Humphries, said:"I am delighted to announce Landore's Maiden resource of 301,000 ounces of gold for our exciting BAM East Gold Deposit, which has been rapidly taken from discovery to resource in just one year.Our remarkably low discovery cost further underlines the significant growth potential of the BAM East Gold Deposit. In addition, exploration drilling has succeeded in establishing the potential for the highly prospective Junior Lake Shear, which traverses Landore's Junior Lake Property from east to west, to host other gold occurrences.Our work programme this year is aimed at further growth of the existing resource, discovery of further gold deposits along the Junior Lake Shear and progressing the BAM East Gold Deposit towards development by initiating a Pre-Feasibility study by year end.This Gold discovery and its advancement is a remarkable achievement by Landore's Exploration team and is a testament to their dedication and perseverance in the exploration of the Junior Lake Property."Extracts from NI 43-101 Technical Report on the BAM East Gold Deposit"Executive Summary, BAM East Gold DepositRoscoe Postle Associates Inc. (RPA) was retained by Landore Resources Canada Inc. (Landore) to complete an initial Mineral Resource estimate for the BAM East Gold Deposit and to prepare a supporting Technical Report. This Technical Report is compliant with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).Landore is a fully-owned subsidiary of Landore Resources Ltd., which is based in Guernsey and listed on the AIM market of the London Stock Exchange. Landore has recently discovered the BAM East Gold Deposit within its Junior Lake Project, located approximately 235 km north-northeast of Thunder Bay, Ontario, and approximately 75 km east-northeast of the village of Armstrong Ontario, Canada.The Junior Lake Project consists of the newly discovered BAM East Gold Deposit along with two nickel-copper-platinum group element (Ni-Cu-PGE) deposits known as the B4-7/Alpha Zone Deposit and the VW Deposit.Landore completed a drilling campaign in the fall of 2015, consisting of eight diamond drill holes for a total of 2,223 m. Two of the eight drill holes were drilled to test a geophysical target located two kilometres to the east of the B4-7 Deposit. The geophysical target drilling intersected a wide zone of gold mineralization close to surface that is now known as the BAM East Gold Deposit. Landore has since carried out follow-up drilling programs in February 2016, in August 2016, and in October 2016. These drilling programs have been successful in expanding the limits of the gold mineralization along the down-plunge direction. In addition, the drilling programs have confirmed the presence of the mineralized controlling structure (the Junior Lake Shea
A Mushroom Kept in the Dark
15 Feb 2017
Re: Someone's keen Just had to check that wasn't me as I bought another 3 grands worth yesterday and hoped I hadn't added another 0 by mistakeI know nooothing
Hobnob34
15 Feb 2017
Someone's keen 09:31
5 3.25 1,000,000 £32,500
Hobnob34
03 Feb 2017
News coming? Bit of movement and volume this afternoon, maybe the maiden resource figures are about to land
JohnSalvage
24 Jan 2017
Re: Proactive Missing from post below-------- Recent news seems to back up his confidence.Metallurgical testwork showed combined gold recovery by gravity concentration followed by cyanidation leach extraction of the gravity tail averaged about 98%.Shore Capital said the results from preliminary metallurgical test work at the BAM East Gold prospect in Canada were “very positive”.What’s more, when the nickel price finally does move off its current lows, the economies of scale will suddenly become plain for both projects.Shares in Landore were up 5.9% at 3.52p towards the end of the day.
JohnSalvage
24 Jan 2017
Proactive [link] gets BAM for buck at Junior Lake with gold option15:58 23 Jan 2017This will be very easy to fast-track, because we’ve done all the work we need to move forward for the nickel leaseRecoveries were an impressive 98%For many years, it’s been all about the nickel for Landore Resources Limited (LON:LND).The company has made great strides at two major deposits at Junior Lake in Ontario, to the extent that Bill Humphries, Landore’s chief executive, reckons they will be ready for a development decision this year.Much depends on the nickel price though.In recent years nickel has been very weak and the current price of around U$9,700 per tonne while above last year is still well below its best.Humphries takes the view that renewed strength is likely within the next couple of years and remains upbeat that the US$13,000 to US$14,000 per tonne level that it would take to make the two Junior Lake deposits really pay their way isn’t that far off.In the meantime events at Junior Lake have taken an unexpected, but welcome, turn.In the final round of the most recent drilling campaign at the B4-7 nickel deposit, a geophysical target two kilometres east of the known mineralisation was tested, with the idea that it might turn up more nickel showings.Instead, what turned up was gold.Gold adds some glisterThis isn’t altogether surprising, as Humphries explains.“Junior Lake is a polymetallic property.“We’ve been concentrating on copper and nickel for some time, and we’ve been dedicated to advancing the nickel projects, but in the meantime, as we’ve been drilling on the greenstone we’ve frequently hit gold and sometimes at quite high grade.”Indeed, at the Lamaune deposit, which was subsequently spun out of the company, Landore hit as much as 130 grams per tonne gold; elsewhere at Junior Lake intersects running as high as 35 grams have been reported over the years.What made this different was the potential scale.For a start, this intersection runs across more than 30 metres and grades just over 1 gram per tonne.Not bonanza grades, maybe, but across that kind of width, certainly attractive enough to consider a bulk mining scenario.There were also higher grade sections within that wider intersect, including 3.7 metres at 4.21 grams.So far so good.Bill Humphries is under no illusions as to the significance of the discovery at BAM East.It’s not just his own long-years of experience in the mining industry, and in particular as one of the founders of Brancote Resources, the Aim market’s first great mining success stories.It’s also that other parties are beginning to show an interest in BAM too.“We’ve got a lot of people talking to us,” he says. “After we finished the first round of drilling we had people calling straight away.”There are many reasons for that. The first, straightforwardly enough, are the grades and widths.The initial announcement of the gold mineralisation at BAM East was certainly a head turner: 40.75 metres at 1.82 grams per tonne gold, with two higher grade sections of 2.25 metres at 10.28 grams per tonne and 3 metres at 5.74 grams.When drilling resumed later in the summer, Landore then hit 38.5 metres at 3.42 grams per tonne, with additional higher grade intercepts.early September the company was reporting multiple instances of visible gold and more lengthy intercepts as the outcome of the summer campaign.Simple process“It’s such a simple occurrence. This will be very easy to fast-track, because we’ve done all the work we need to move forward for the nickel lease.We’ve got permits to construct and we’ve got very supportive First Nations.We’ve done water studies, we’ve done wildlife, fishing – all of those.”Recent news seems to back up his confidence.Metallurgical testwork s
Hobnob34
23 Jan 2017
'There were 6 recorded sightings of VG and the highest grade was 17.35g/t over one metre'That's high grade stuff. An average grade of over 10g/t would put this in the world's top 10 grade gold mines.
Antiques Of Woodstock
23 Jan 2017
Moving Forward: Good morning All700 metres strike length remaining open down dip to the East and WestLow cost leachabilityHigh percentage recoveryResource figure awaitedPolitically secure operationAdditional funding required to get us to the point of either packaging what we have for sale – or when financing options will come into play should we decide to run with this ourselves.2017 will be an interesting year.All good so far.Good luck all…
