EPR 0.00% 0.7¢ essential petroleum resources limited

beach to build projects , page-2

  1. 1,231 Posts.
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    @OldGeo,

    I won't be posting on the CTM threads from here on. I will tag you at a dormant thread like this if I have anything that may (or may not) be of interest to you.

    Disclosure: I don't currently hold CTM, sold out on the Itappy RC results, due to a combination of the Salobo West news the day before, the sovereign risk issue surrounding the trucking strike in Brazil at the time, and the, imo, somewhat disappointing RC results, re the intercept thickness. I am still watching it closely.

    The resource guesstimate for the 'higher-grade Co orebody', as I had outlined in my previous post, using my version of block wireframes, came in at: 0.61Mt @ 0.17% Co.

    As I mentioned it did not include the lower-grade Co below the higher-grade intercepts.

    Some points re the above.

    It uses an SG of 1.2 for the ferruginous laterite.
    It is based on only 7 data points, some up to 200m apart, ie holes 01, 02, 03, 04, 06, 07 and 14.
    It is based only on the RC drilling and does not take into account the Auger drilling.
    It assumes the 'orebody' extends no further than approx 25m from the northernmost, easternmost, southernmost, westernmost data points.
    It assumes the Co grade and thickness have a unifrom linear progression as between data points.

    Of interest, management were scheduled to meet with Pelleton (the underwriters of the OA's) last week (from phone conversation with management prior to meeting), so watched the price action, particularly the closing price last week with interest. Don't know what the meeing was about, could have been a friendly chat, management went to Pelleton, not the other way around. There does seem to be attempts to keep the closing vwap down at the moment. Likely I am reading too much into it. Time will tell (and I have been wrong plenty of times).

    cheers,
    grundlebundle
    Last edited by grundlebundle: 13/06/18
 
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