JohnSalvage
26 Oct 2016
Re: Proactive Link to article below -[link]
Antiques Of Woodstock
26 Oct 2016
Re: Useful Info on BVI Liquidator: Apologies All - Wrong bb!
Antiques Of Woodstock
26 Oct 2016
Useful Info on BVI Liquidator: Good evening AllThe below cut and pasted for your interest.Note the final sentence in the final paragraph:IT IS POSSIBLE FOR A FOREIGN INSOLVENCY PRACTITIONER TO BE APPOINTED JOINTLY WITH THE BRITISH VIRGIN ISLANDS RESIDENT LICENSED INSOLVENCY PRACTITIONER.IMO we should without doubt be making strong representation for this to happen to ensure that 'fair play' is adopted.British Virgin Islands insolvency law is almost entirely codified in the Insolvency Act, 2003 and the Insolvency Rules, 2005.[40] The Insolvency Act is "predicated heavily towards the protection of secured creditors' rights". In the British Virgin Islands a company will be deemed to be insolvent if it cash flow insolvent, balance sheet insolvent or "technically" insolvent (i.e. it has failed to satisfy a judgment debt or statutory demand letter). In each of those circumstances a creditor to petition the court for the appointment of a liquidator. A company may also voluntarily enter insolvent liquidation by a vote approved by 75% of the votes of the company's members.If a liquidator is appointed (either voluntarily or by the court), the liquidator's primary duty is to collect in all of the company's assets and then distribute them pari passu to the company's creditors. The Insolvency Act confers wide powers upon the liquidator to enable him to do so. Once a liquidator is appointed, unsecured creditors cannot commence legal proceedings against the insolvent company without the leave of the court and any rights of action against the company are converted into claims in the liquidation process.Secured creditors generally do not participate in the liquidation process, and may continue to proceed with any enforcement action directly against their collateral pursuant to a valid security interest. A liquidator has a right to disclaim onerous property and unprofitable contracts (although this cannot destroy or remove any third party rights once they have vested] British Virgin Islands law only provides for a very small class of preferential creditor, and these are rarely commercially significant in insolvent liquidations.When a company goes into insolvent liquidation, any mutual debts between the company and a creditor intending to prove in the liquidation will be set-off. However, the right of set-off is not mandatory, and can be waived by a creditor provided this does not prejudice other creditors. Any creditor who extended credit to the company at a time when it had notice of the company's insolvency (excluding balance sheet insolvency for these purposes) cannot set-off. The Insolvency Act has incorporated ISDA Model Netting legislation (pre-2007 form) and so any netting agreement relating to financial contracts will prevail over the statutory insolvency set-off provisions.A liquidator may challenge transactions entered into in the twilight period prior to insolvency where such transactions constitute either an unfair preference, undervalue transaction, voidable floating charge or extortionate credit transaction. A liquidator can also pursue former directors (including shadow or de facto directors) and officers of the company for either misfeasance or insolvent trading.The Insolvency Act also regulates receiverships, including administrative receiverships. Under British Virgin Islands law it is possible to appoint an administrative receiver pursuant to a floating charge over all or substantially all of a company's assets and undertaking.The insolvency regime in the British Virgin Islands does not really provide for any form of debtor in possession rehabilitation. Although the Insolvency Act also makes provision for administration orders, these provisions have not yet been brought into force. It is also possible for an insolvent company to enter into a creditor's arrangement under a supervisor, and thereby restructure the company's debts. Such arrangements cannot affect the rights of secured creditors or preferential cr
Temujiin
25 Oct 2016
Re: Proactive Very nice write up. Happy to have 400,000 LND atm and looking forward to the next set of assays results, which almost certainly will be positive imo.I do like this be in particular:''....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.”What’s more, when the nickel price finally does move off its current 25-year lows, the economies of scale will suddenly become plain for both projects.“It’s the same sort of system,” says Humphries. “The crushing and milling side of things will be the same. And we’ll move on the nickel the moment the price moves up, and it doesn’t have to move up that far.”
JohnSalvage
25 Oct 2016
Proactive Landore restarts drilling with a view to delivering a resource at BAM by JanuaryShare 12:54 25 Oct 2016Landore's BAM East gold discovery is shaping up well. Now the subject of renewed drilling, a maiden resource is expected early next yearLandore restarts drilling with a view to delivering a resource at BAM by JanuaryThere have been several significant gold intersections at BAM East already“It’s a serious discovery,” says Bill Humphries of Landore Resources Limited (LON:LND).He’s talking about the BAM East gold prospect at the company’s long-held Junior Lake property in Ontario.Landore has been on the ground at Junior Lake for many years now and along the way has proved up nickel mineralisation in serious quantities at two separate deposits, B4-7 and the VW.But the story of the discovery of the gold mineralisation at BAM East, just 2,000 metres to the east of B4-7 is the stuff of mining fairy tale.At the end of last year, with the worst mining bear market in recent memory still wreaking havoc on junior miners, and with the nickel price especially hard hit, Landore getting ready to give up on the drill bit altogether, or at least for the foreseeable future.At that stage it was one of only two junior miners still doing any drilling work at all in Ontario which, considering Ontario is one of the great mining jurisdictions in the world is quite something to consider.But, with the nickel drilling wrapping up before Christmas, there was time for one last hole. And this one hit something different, and wholly unexpected – gold, in significant quantities.Anyone curious about the significance of this last and apparently final drill hit need only take a look at Landore’s share price performance since then.Late in January Landore hit a 10-year low of 0.51p. There was a little bit of upward drift through February and March as the mining markets in general showed renewed signs of life, but then in early April the shares suddenly leapt to just under 2p. That was when the company put out its first significant notification on the potential of BAM East.Several more have followed as, needless to say, drilling wasn’t halted after all. The shares are now at 3.3p, up more than six times since that January low, and although there’s a lot of retail on the register now, there could be more to come.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.Winter drilling is just getting underway now, and already the project has advanced to the stage where Humphries is talking about putting out a resource in January.“At that point I’m confident we will be in a position to do a pre-feasibility study,” he says.“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 st
Temujiin
20 Oct 2016
DRILLING RE-COMMENCES More Visible Gold BAM EAST GOLD PROSPECTJUNIOR LAKE PROPERTYLondon, United Kingdom - October 20th 2016 - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company"
is pleased to advise that resource and extension drilling has recommenced on the BAM East Gold prospect on its Junior Lake Property, Ontario, Canada ("BAM East Gold Prospect".Drilling:-- Drilling has re-commenced on the exciting BAM East Gold Prospect. The programme will consist of 10 HQ and 7 NQ diamond drill holes for 4,000 metres, to expand the newly defined central zone and to test highly prospective targets along the remaining 2.7 kilometre MM-7 geophysical trend respectively.-- The first two HQ holes completed, drilled to extend lines 2350E and 2400E a further 50 metres down dip, have intersected the same lithology as the higher holes with visible gold sighted. The core is currently being processed for assaying.-- Longitudinal sections show the central zone to be plunging to the West with the width and gold content improving at depth (see attached plots A and B).Trenching:-- Sampling of trench 0416-01T at 1600E, located 700m to the west and along trend to the central zone, has intersected the same lithology with gold mineralisation up to 0.66 grams/tonne (g/t).-- In addition, Drill hole 0416-545 drilled approximately 60m down dip to Trench 0416-01 has also intersected the same lithology together with gold mineralisation up to 1.49g/t, potentially extending the BAM East Gold Prospect to 1100 metres along strike (1600E to 2700E).Petrographic Studies:-- Seven samples from the winter and summer drilling campaigns on the central zone were submitted for petrographic studies, two of which reported significant native gold in both the (+) 100 micron and the (-) 100 micron size (see attached photo C). -- No sulphides were associated with the precious metals. Gold Screen Metallics versus Fire Assay analysis:-- An independent report on the results determined that, overall the gold distribution does not appear to be very "nuggety" since gold is in both the fine and coarse screen fractions, and the screen metallic assays correlate reasonably well with the fire assays.Commenting on this report, Chief Executive Officer of Landore Resources, Bill Humphries, said:"The BAM East Gold Prospect is rapidly developing into a significant new gold discovery for Landore Resources, enjoying very low discovery costs per ounce, favourable mineralogy potentially providing a simple processing path with maximum recoveries and low capex opex costs"The Junior Lake property:The Junior Lake property, 100% owned by Landore Resources, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay, and is host to: the BAM East Gold Prospect, the BAM gold zone, the B4-7 Nickel-Copper-Cobalt-PGEs resource, the VW Nickel resource and numerous other highly prospective mineral occurrences including three Lithium occurrences.BAM East Gold Prospect:This new gold prospect is located midway along the geophysics conductor MM-7 approximately 2,000 metres east of the B4-7 Nickel-Copper-Cobalt deposit. Widespread gold mineralisation was intersected in drill-hole 0415-517 in December 2015 whilst testing the geophysical conductor MM-7 for base metals.To date, 30 NQ diamond drill-holes (0415-517 to 0416-545), for a total of 4850 metres, have been drilled on the BAM East Gold Zone.Plotted long sections show the Central zone to be plunging to the West with the width and gold content improving at depth (see attached plots A and B).
Nice to Michu
22 Sep 2016
Just did that small top up off the back of the minor retrace this morning..I'll not be buying anymore here now... but i'll be slow to sell too.Price of gold doing nicely to bootGood luck to all holders here.. whatever way it 'pans' out it won't be boring!
Callun
22 Sep 2016
Re: B A M 10p? Wow, break even at last.
Red_Rufus
21 Sep 2016
B A M There I was actually thinking about taking some profit at 5p until I re-read today's second company update. You couldn't make it up, sheets of gold just winking at us I'll be looking for 10p+ for mine
Nice to Michu
21 Sep 2016
Re: RNS - Wide zones of near surface gol... Pogba for £89m equated to this = we'll all be retiring off the back of this!Good RNS this morning.. I wish I'd put more in here even in the 3'sp .. might still add one small top up at 5p... or if it comes off a bit ...not taken any profits here yet but may get tempted sometime ahead of October analysis results.. will still keep a core holding though. Walk on Selwyn lad
itsakeeper
21 Sep 2016
Re: RNS - Wide zones of near surface gol... 500m X 150 X 40m wide X 2.6 SG x 1.5g/t...380Koz of free milling gold in a low strip ratio open pit in...CANADA if they can double the size of this they have a real nice project that someone may well buywell done
Selwyn Froggit
21 Sep 2016
Re: RNS - Wide zones of near surface gold Looking good and still allot more uplift to come especially when you think the company is only valued at £33 million, today's price. Pogba went to Man Ushited for £89 million!!
Temujiin
21 Sep 2016
RNS - Wide zones of near surface gold 21 September 2016LANDORE RESOURCES LIMITED(AIM Ticker: LND.L)DRILLING PROGRESS REPORTBAM EAST GOLD PROSPECTJUNIOR LAKE PROPERTYLondon, United Kingdom - September-21st 2016 - Landore Resources Limited(AIM:LND) ("Landore Resources" or "the Company" is pleased to provide thisprogress report on extension drilling of the BAM East Gold prospect on itsJunior Lake Property, Ontario, Canada ("BAM East Gold Prospect".Final results have been received from the recently completed drilling campaignon the BAM East Gold Prospect:Highlights:· Drilling results have reported wide zones of near surface goldmineralisation with drill-hole 0416-541 reporting 56.86 metres (m) at 1.60grams/tonne gold (g/t) including 4.00m at 5.17g/t gold.Latest results include the following. Easting Northing Drill-hole From Interval* Au No Metres Metres g/t 2200 175 0416-544 51.28 15.22 1.07 including 51.28 0.72 6.47 2300 00 0416-539 204.29 18.71 1.42 including 212.00 3.00 5.74 including 212.00 1.00 11.65 2350 00 0416-540 177.00 42.00 2.55 including 192.00 4.00 4.26 and 211.00 8.00 5.53 including 211.00 1.00 27.80 2350 50 0416-537 127.00 38.00 1.45 including 160.00 1.00 10.00 2400 00 0416-541 147.00 56.86 1.60 including 147.00 4.00 5.17 and 202.83 1.03 8.43 2400 50 0416-536 114.00 30.66 2.55 including 114.00 5.00 4.40 and 125.00 6.00 6.44 including 127.00 1.00 28.70 2600 00 0416-542 118.90 14.10 1.41 2650 00 0416-543 103.83 23.17 1.40 including 108.48 2.00 10.34 * Holes were drilled north at 45 degrees into a lithological package dippingapproximately 40 degrees to the south. The actual true thickness ofmineralisation is estimated to represent between 85-90% of the intervals shownin the above table.The recently completed summer drilling campaign consisting of 22 NQ diamonddrill holes (0416-524 to 0416-545), for 4,077m, was drilled to test the east,west and down dip extensions of the new gold zone.The above drilling has successfully extended the BAM East Gold Prospect for adistance of 500 metres along strike from 2200E to 2700E and to a verticaldepth of 150 metres. The prospect remains open along strike to the east andwest and down dip.Quality Control and Quality Assurance ("QAQC" has been completed on alldrilling results, sections have been plotted and are currently beinginterpreted to provide further information on mineralisation geometry.Information gained will be used to assist planning of the follow up drillprogramme.Since there are multiple instances of visible gold as well as high grade goldin current drilling, core samples from intervals of interest have beenre-submitted for screen metallic gold analysis to check reproducibility ofgold assays. Results have now been received and are being verified (QAQC) andwill be reported when complete.A trenching and channel sampling programme has been completed along the 2.7kilometre, east-southeast to west-northwest trending MaxMin geophysicalanomaly ("MM-7" and along the parallel geophysical anomaly ("MM-18" locatedapproximately 200 metres to the north of MM-7. Results from the sampling arecurrently being received and collated and will be released when completed.BAM East Gold Prospect:This new gold prospect
Temujiin
14 Sep 2016
Re: Nice Write Up You're welcome Nice to Michu, I'm always happy to plagiarizes other peoples research I accumulated 550k at one point but have now started to take a little off the table in 50k chuncks but still have 400k and in profit by about £6,500. Have a sell order in at 4.4pish and a buy order in at 3.3ish. Nice gain by you too 100% up, nice.
Nice to Michu
14 Sep 2016
Re: Nice Write Up Great feedback from you here Temujiin, please keep up the good work! And well done so far on your profits here too.I bought back some of what I sold previously - at 2.55p.. oups - in the mid 3's p and while my position remains small here it is now up 100%.. But i'll not sell here for a while yet and maybe even a long while! This is starting to get very interesting....
