Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
American Creek Announces Non-Binding Letter of Intent and Exclusivity with Cunningham Mining Regarding Proposed Plan of Arrangement
Consideration of $0.43 Cdn per Common Share represents a premium of approximately 274%
Cardston, Alberta--(Newsfile Corp. - June 6, 2024) - American Creek Resources Ltd. (TSXV: AMK) ("American Creek" or the "Company"), announces that it has entered into a non-binding and arm's length letter of intent dated June 5, 2024 (the "LOI") with Cunningham Mining Ltd. ("Cunningham"), a private British Columbia corporation, to engage in due diligence and negotiations regarding the terms of a proposed transaction (the "Proposed Transaction") whereby Cunningham, or a subsidiary of Cunningham, would acquire all of the issued and outstanding securities of the Company. Through this proposed transaction, Cunningham would acquire control of the Company's 20% fully carried interest in the Treaty Creek Property which has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ and an Inferred Mineral Resource of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ (see complete description below). If the parties agree to proceed with the Proposed Transaction, the Company expects the Proposed Transaction will be carried out by way of a court-approved plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) (the "BCBCA").
The Company's Board of Directors (the "Board"), after an extensive period of negotiation and consideration of various alternatives, has approved entry into the LOI, pursuant to which Cunningham proposes to acquire all the issued and outstanding securities of the Company, including all common shares of the Company (the "Common Shares"), at a price of $0.43 Cdn per Common Share, payable in cash (the "Consideration"). The Consideration represents a premium of approximately 274% to the $0.115 Cdn closing price of the Common Shares on the TSX Venture Exchange (the "TSXV") on June 5, 2024 (the last trading day prior to the execution of the LOI). The LOI is non-binding and there can be no assurance that the Proposed Transaction contemplated by the LOI, or any other transaction, will be completed. Closing is subject to a number of conditions and uncertainties described below.
To read more goto:
https://us5.campaign-archive.com/?e=6f11d69fd1&u=af629dcbbf88a5932a7e484e3&id=a37ffe94d7
or
https://www.newsfilecorp.com/release/211974
Or a good time to get cheap shares for a very long wait until in-suitu is actually producing.
Thanks Nioman. Also appreciate the reference to Endeavor Silver
Not very exciting. Would have liked more info about the in-suitu progress.
Thanks for posting the link
I just got via email the following
"
Pancontinental Oil & Gas NL ASX Releases Alert
"
But there was no text that I could get to. Anyone able to Copy & Paste the message?
NioCorp to Host Technology Briefing Webcast on Railveyor Technology
CENTENNIAL, Colorado – May 31, 2024 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (Nasdaq:NB) is pleased to announce that it will host a live Technology Briefing Webcast at 11 a.m. Mountain (1 PM Eastern) on Wednesday, June 5, 2024, on the Railveyor technology and its potential to significantly cut CAPEX and OPEX costs, help NioCorp reach full commercial production sooner, and operate with a lower carbon footprint by electrifying its proposed Elk Creek Critical Minerals Mine (“Elk Creek Mine“).
In the webcast, Railveyor executives (https://www.railveyor.com) will discuss the benefits and operational track record of their innovative mining bulk material handling system. The Optimize Group (https://optimizegroupinc.com/) will present the results of a recent scoping study[1] it completed for NioCorp estimating the potential impacts to the Elk Creek Mine of utilizing a Railveyor system in lieu of the two vertical shafts currently planned for the Mine.
The development of the Elk Creek Mine and receipt of any of the benefits identified by the Optimize study are subject to, among other matters, the receipt of sufficient project financing to construct the planned Elk Creek Project facility.
To register for the webcast:
https://mailchi.mp/niocorp.com/niocorp-to-host-technology-briefing-webcast-on-railveyor-technology?e=a994b680bf
Thanks for posing plumo
Chariot
(Thanks to Malcy's blog)
May 28, 2024
Chariot has announced the results from the drilling of the OBA-1 well on the Dartois prospect, the second of a two well drilling campaign, in the Loukos Onshore licence onshore Morocco (Chariot, Operator 75%, ONHYM, 25%).
· OBA-1 well was safely and efficiently drilled, on time and on budget, to a final measured depth of 901m through the target reservoirs.
· Following comprehensive evaluation of the well data, including wireline logs, cuttings and gas data, preliminary interpretation:
o confirms the presence of reservoirs over an interval of approximately 200m gross thickness, corresponding to the pre-drill targets; and
o within which an approximate 70m gross interval of primary interest has been identified containing elevated resistivities coincident with elevated mud gas readings, indicating potential gas pays, with no water-bearing reservoirs identified.
· Further post-drill analysis will be conducted in preparation for well flow testing which will determine the well productivity and the gas resource potential of the discovery.
· The well will now be suspended to allow future rigless flow testing operations and potential use as a producer well and the rig will then be demobilised.
Duncan Wallace, Technical Director of Chariot commented:
“We are very pleased to report the successful drilling of the OBA-1 well at the Dartois prospect which now concludes Chariot’s first onshore drilling campaign in Morocco and brings with it positive results for the potential of the Dartois area.
We will now integrate the comprehensive data we have obtained from both the RZK-1 and OBA-1 wells with recently reprocessed 3D seismic data to understand the resource potential of the Dartois area, to confirm the optimal future work programme on the discovery and the impact on wider prospectivity across the Loukos licence. Our two first wells have both been successful in confirming our geological model for reservoir distribution and the presence of gas which bodes well for future exploration activity.
I would like to thank both our operational team, who once again have shown that that they can drill safe, efficient and successful wells, and ONHYM for their ongoing support and partnership. Our focus on the Loukos licence is to get any commercial discoveries to first gas as quickly as possible.
We now look forward to the offshore drilling campaign planned for Q3 2024, on the Anchois gas field, with our new partners Energean, where we are looking to increase the development to over 1 Tcf.”
Great news that Chariot has made a gas find with OBA-1 at the Loukos onshore licence, onshore Morocco. The well was drilled safely and on time and the company has already got under way with a comprehensive evaluation of the well data, including wireline logs, cuttings and gas data, preliminary interpretation and has confirmed the presence of reservoirs over an interval of approximately 200m gross thickness, corresponding to the pre-drill targets and showing that these wells can be drilled and analysed cheaply and quickly.
The primary targets showed a 70m gross interval with elevated mud gas readings, indicating potential gas pays, with no water-bearing reservoirs identified. A well like this has a number of advantages in addition to those identified, in particular it can provide a return on investment very quickly indeed something that will be proved in the coming months at Chariot. With another campaign to come with Energean, the area could prove to be the profitable province envisaged by Chariot.
Chariot (CHAR.L OIGLF)
May 26, 2023
Announced the spud of the OBA-1 well on the Dartois prospect in the Loukos licence, onshore Morocco. The Dartois target has best estimate recoverable prospective resources of 12 billion cubic feet of gas. This is an independent prospect targeting a different trapping style to the Gaufrette prospect drilled by the RZK-1. Success could potentially unlock a trend of prospects with combined best estimate recoverable prospective resources of 20 billion cubic feet and results will be announced on completion of drilling. Also upcoming is the Anchois appraisal well, the spud of which is planned for August 2024.
Actually I have enjoyed your post that were non-FFMGF with Seablue
Agreed Scarbender.
Yes it is disapponting that they can say very little about their assets because they are the JV and can't say what they may know until the operator releases the information.
I think the Orange basin is one of the major future sources of world oil. Sure hope that Pancontinental pops soon. From the maps that pancon has released they seem to be at the sweet spot of the basin and Venus is on the southwest side.
Nice article The_Gman, thanks
carsonckid Thanks for posting
Chariot announce the spud of the OBA-1 well on the Dartois prospect in the Loukos Onshore licence onshore Morocco (Chariot, Operator 75%, ONHYM, 25%)
· Dartois target has Best Estimate recoverable prospective resources of 12 Bcf
· Independent prospect targeting a different trapping style to the Gaufrette prospect drilled by the RZK-1 well
· Success could potentially unlock a trend of prospects with combined Best Estimate recoverable prospective resources of 20 Bcf
· Results will be announced on completion of drilling
Duncan Wallace, Technical Director of Chariot commented:
“We are pleased to be underway with our second well in this drilling campaign, having spud the OBA-1 well within short order of completing operations at Gaufrette. We are now testing an independent prospect at Dartois, which is in a different reservoir fairway and along trend from an existing gas discovery, and we look forward to providing an update on the results in due course.”
Chariot continues to offer a Moroccan experience for shareholders who should benefit from the high natural gas prices and generous fiscal terms on offer in country. They have this low cost, shallow programme which if successful will come onstream quickly and profitably, they also have the subsequent development at Anchois which should deliver a substantial prize. All in all Chariot offers a combination of upside designed to work across the board for investors.
American Creek is a proud partner in the Treaty Creek Project.
5/19/24
The project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek.
American Creek and Teuton hold fully carried 20% interests, which means no development costs are incurred by these companies until a production notice is issued.
Gold Is On The Move! Miners Next Up?
Tavi Costa, partner and portfolio manager at Crescat Capital, sits down with The Investing News Network to discuss gold's recent price activity and his outlook moving forward.
“We are so close (to) a historical breakout in the miners…I think the mining industry is so close to one of those big move-ups that we tend to see in the industry: 300-400% moves in the short term. I don’t think we’ve experienced such a level of undervalued evaluation across this space like we’re facing currently."
For more info and link to two videos goto:
https://mailchi.mp/d7b70045f3eb/new-treaty-creek-report-4755090?e=6f11d69fd1
AFRICA OIL ANNUAL GENERAL MEETING WEBCAST AND CONFERENCE CALL DETAILS
VANCOUVER, BC, May 16, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") will hold its Annual General Meeting of Shareholders on Thursday, May 23, 2024, at 09:00 (PDT) / 12:00 (EDT) / 18:00 (CEST) at Bennett Jones LLP Fraser Boardroom, Park Place, 666 Burrard Street, Suite 2500, Vancouver V6C 2X8. View PDF
Following conclusion of the formal business of the Annual General Meeting, Executive Management and Chairman of the Board are available to answer shareholders' questions. Shareholders that are unable to attend in person can follow the meeting via webcast or conference call facility on the details shown below. Please note that shareholders joining remotely are unable to vote during the meeting using the webcast and conference call facility.
Shareholders can submit written question using the webcast facility or ask questions using the conference call facility. Those shareholders wishing to ask a question using the telephone facility are requested to send an email to events@africaoilcorp.com and register their name and email address prior to the meeting. Â
Participants should use the following link to register for the live webcast:
https://edge.media-server.com/mmc/p/vmuimsbi
Participants can join via telephone with the instructions available on the following link:
https://register.vevent.com/register/BI788a546a29ba461599bcb2f44bd7a5c9
Click on the call link and complete the online registration form.
Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details.
Select a method for joining the call;
i. Dial-In: A dial in number and unique PIN are displayed to connect directly from your phone.
ii. Call Me: Enter your phone number and click "Call Me" for an immediate callback from the system. The call will come from a US number.
Chariot
(Thanks to Malcy's blog 4/15/24)
Chariot has just announced the results from the drilling of the RZK-1 well on the Gaufrette prospect, the first of a two well drilling campaign, in the Loukos Onshore licence onshore Morocco (Chariot, Operator 75%, ONHYM, 25%).
· The RZK-1 well was safely and efficiently drilled, on time and on budget, to a final measured depth of 961m through the Gaufrette Main target which was found on prognosis.
· Following comprehensive evaluation of the well data, including wireline logs, cuttings and gas data, preliminary interpretation confirms thick intervals of good quality reservoir exceeding pre-drill expectations, with multiple gas shows of various intensity, however these reservoirs are largely interpreted to be water-bearing and therefore are sub-economic.
· Further post-drill analysis will be conducted, alongside interpretation of the newly reprocessed 3D seismic data, to understand the results of the well and implications for future exploration in the Gaufrette area, including potential deeper objectives.
· The well will now be plugged and abandoned and the rig will then move to the second location of the campaign to drill the OBA-1 well at the Dartois prospect in the coming days, which is targeting a different independent prospect. An update will follow confirming commencement of these operations.
Duncan Wallace, Technical Director of Chariot commented:
“Whilst the results of the Gaufrette well did not deliver a material gas accumulation, the presence of strong gas shows and excellent reservoir development is encouraging for future exploration in this area. We are looking forward to now drilling the Dartois well targeting a different reservoir system and trapping style to the Gaufrette prospect, with success potentially unlocking combined Best Estimate recoverable prospective resources of 20 Bcf on trend.”
I think it would be an error to draw anything from this initial well in the area and as Duncan Wallace says above there is still much to be excited about for the company’s other prospects locally. With the rig moving directly to drill the next prospect the excitement continues and with so much to look forward to both here and at Anchois, Chariot remains a very favoured Bucket List stock.
American Creek.
Eric Strand, President of AuAg Funds, Make the case for Triple-digit Gains for the Gold Miners.
A common question investors have is why gold is moving and gold equities are not. Concerning this matter, Eric stated:
“There is a delay, and it’s natural. The costs have stabilized for the miners, and gold continues to go up (so) the profit leverage…will be much stronger now. I think we will see that effect of the miners, and then they will really run, and I mean, they run fast! There will be a catching up and that’s actually a good opportunity for investors. If they missed the gold race, they can still make a lot of money on the miners now."
Treaty Creek JV Partnership
American Creek is a proud partner in the Treaty Creek Project.
The project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek.
For the link to the interview goto:
https://mailchi.mp/e2134a8e7960/new-treaty-creek-report-4755073?e=6f11d69fd1
American Creek's JV Partner Tudor Gold Commences 2024 Exploration Drill Program at Treaty Creek, Golden Triangle, British Columbia
Cardston, Alberta--(Newsfile Corp. - May 10, 2024) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that crews from JV partner Tudor Gold are on site preparing camp and drill locations for the upcoming 2024 exploration program at the flagship Treaty Creek Project, located in the Golden Triangle of Northwest British Columbia. Two diamond drills were mobilized to the project on May 7th and 8th and drilling commenced on May 9th.
Phase 1 of the 2024 exploration program is expected to consist of approximately 10,000 meters (m) of diamond drilling at the Goldstorm Deposit. The primary objective of the Phase 1 drill program is to expand and upgrade the recently released Mineral Resource Estimate (news release dated April 8, 2024).
Several drill holes have been designed as step-out drilling to the high-grade Supercell One (SC-1) system identified in 2023 (news release dated February 1, 2024). Supercell One is a gold dominant, quartz-sulphide, breccia-hosted structural corridor open to the northwest, north and east.
Previous drilling results from Supercell One include the following high-grade gold intercepts:
GS-23-176-W1: 15.00 m @ 15.64 grams/tonne (g/t) AuEQ (14.89 g/t gold (Au), 4.72 g/t silver (Ag), 0.60% copper (Cu))
GS-22-134: 25.50 m @ 9.96 g/t AuEQ (9.66 g/t Au, 1.23 g/t Ag, 0.24% Cu)
Including 4.50 m @ 20.86 g/t AuEQ (20.61 g/t Au, 1.50 g/t Ag, 0.20% Cu)
GS-23-179: 12.00 m @ 10.07 g/t AuEQ (9.78 g/t Au, 1.35 g/t Ag, 0.23% Cu)
Read more and get graphics at:
https://us5.campaign-archive.com/?e=6f11d69fd1&u=af629dcbbf88a5932a7e484e3&id=e9553949f0
Nice find chico
Agreed Prudent Capitalist
Actually a nice article. Unfortunately defense contracting for a small firm has always been a feast of famine situation.
I would love to hear how they plan to control the water.
Chariot
(Thanks to Malcy's Blog) 5/3/24
Chariot yesterday announced that drilling operations have commenced at the Loukos Onshore licence onshore Morocco (Chariot, Operator 75%, ONHYM, 25%) with the spud of the RZK-1 well on the Gaufrette prospect.
Gaufrette Main target has Best Estimate recoverable prospective resources of 10 Bcf
Option to penetrate a deeper target identified on newly reprocessed 3D seismic data
Strong read through for other geologically linked prospects in the Gaufrette area with success potentially unlocking combined Best Estimate recoverable prospective resources of 26 Bcf
Results will be announced on completion of drilling
Duncan Wallace, Technical Director of Chariot commented:
“We are very pleased to commence this onshore campaign, kicking off the first of our exciting drilling operations for Chariot this year. We also continue to work up the prospectivity across this acreage as we see significant upside both in the vicinity of our high graded well locations and beyond. I would like to thank our operational team for their hard work and efforts in getting this drilling underway within ten months of licence award and ONHYM for their ongoing support and partnership. We look forward to providing an update on the results in due course.”
It’s always good when a plan comes together and this news that the RZK-1 well at the Gaufrette prospect has spudded is part of the Chariot strategy to drill the Loukos onshore licence. Looking for 10 bcf as an initial target and with deeper targets already identified on 3D seismic giving the hope of 26 bcf the prospect could also re-risk a number of other prospects.
The plan has always been for Loukos onshore to balance the huge development at Anchois which itself is so big that it may come onstream after Loukos which looks like it may bring the relatively cheap, quick and shallow wells which are economically very attractive given excellent fiscal terms and current high gas prices in Morocco.
Chariot are in a very strong position right now, the shares look particularly attractive with these two areas of Morocco coming good I am confident that patience is about to be rewarded.
Thanks for keeping TUO on your list to post about.
Sintana/Eco Atlantic
(Thanks to Malcy's blog)
5/1/24
Sintana has announced that Chevron Namibia Exploration Limited has executed an agreement effective April 28th that provides for their entry into Petroleum Exploration License 82 (“PEL 82”) with the assumption of an 80% working interest and operatorship. NAMCOR, the National Petroleum Corporation of Namibia, and Custos Energy will each maintain a 10% carried interest in PEL 82. Sintana maintains an indirect 49% interest in Custos.
PEL 82 governs blocks 2112B AND 2212A located in the Walvis Basin, offshore Namibia. PEL 82 is one of the Walvis Basin’s most attractive opportunities.
Approximately 70% of total block area is covered by existing seismic – over 3,500 km of 2D and 9,500 km2 of 3D data.
Previous drilling activity on PEL 82 includes the Murombe-1 and Wingat-1 wells.
– Results confirmed the regional extension and presence of the Barremian-Aptian oil-prone source rock (Kudu shale).
– The Murombe-1 penetrated the Baobab sands returning approximately 20% porosity.
– The Wingat-1 well recovered 38-41 degree API oil to surface.
“We are pleased to announce the continuing expansion of our in-country partnership with Chevron through their entry in PEL 82. This is one of the most advanced and interesting opportunities offshore Namibia outside of the Orange Basin.” said Knowledge Katti, Chairman and Chief Executive Officer of Custos, and a director of Sintana. “We are pleased to see our efforts over the last decade on PEL 82 result in this important step forward adding further to Namibia’s world class offshore opportunity.” he added.
“The expanding partnership with Chevron in Namibia speaks to the quality of our Namibian portfolio.” said Robert Bose, CEO and Board Member of Sintana. “The timeliness of our entry and the unmatched nature of our portfolio continue to be demonstrated as Namibia emerges as the world’s next great hydrocarbon province.” he added.
I have written quite a bit about Sintana in recent weeks and months, this dynamic company has been active in the Orange Basin and indeed Robert Bose has popped up as a director and investor in Challenger Energy Group. But it has now joined with Chevron in the Walvis Basin, ironically in a block where Exxon and Galp were involved a while ago. Also it’s Important to note that Bose and his fund (Charlestown Capital Partners) are a significant shareholders in Eco (this is how they first got introduced to Namibia).
But the big winner must be Eco Atlantic who have carefully built up a substantial portfolio in the Walvis Basin and as the long predicted dash for acreage here has finally got underway. The best way of showing it is via this map, where Eco are very strongly represented, their licences are in pale blue and they own 85% of each and are operators.
Gil Holzman, CEO of Eco Atlantic said to me that ‘this is a farm-out basin opener and as we knew and expected everyone will now rush to the Walvis Basin, after Chevron showed has signed up for this block. We are the largest acreage holder in the Basin and expected intensified exploration activity going forward’.
Petro Matad has provided the following operational update.
From Malcy's blog
4/26/24
Key Company Updates
· The Company is working with the local government agencies to secure the remaining approvals necessary from Matad District to allow the 2024 operational programme to commence. Preparations are being made to complete the Heron 1 well for production once approvals are in hand and when contractor crews return to Mongolia.
· Petro Matad continues to push the central government to complete the certification process and confirm Block XX as State Special Purpose land to streamline the permitting process in future years and reduce the risk of interference or obstruction.
· SunSteppe Renewable Energy (SRE), the Company’s renewable energy Joint Venture, continues to make good progress. An exclusive MoU with Oyu Tolgoi mine to develop a Green Hydrogen project has been signed and grant funding from the Japanese government has been secured. SRE’s 50MW Battery Energy Storage System project has now received technical approval.
Operational Update
Block XX land access and Heron 1 completion
Following the approval of land access from the Matad Citizens’ Representatives Committee, the Company has been liaising with the local authorities to secure the Matad Governor’s resolution and the land use agreement. Petro Matad has been working to correct misinformation about the Company from local activists and protesters that have been critical of oil production operations in the area for some time, protesting online and in person against the committee’s decision. The execution of the aforementioned documents will allow work in the areas chosen for 2024 operations to go ahead irrespective of the slow progress of the central government process to complete the certification of the Block XX Exploitation Area as State Special Purpose Land.
Petro Matad is also standing-by to pay compensation to the herders whose registered pastures were impacted by the award of the 214km2 Block XX Exploitation Area. These payments, set out in law, should be paid from the State budget but recognising that the process could be very slow, Petro Matad had proposed paying the herders directly itself. Payments of c.$5,000 per family were due to the 10 families affected. Petro Matad had previously proposed making payment via industry regulator, the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), but this was ultimately not accepted by the Ministry of Finance. Changes in the procedures to allow non-State entities to pay are now working through the Mongolian government’s system but, having requested and received a letter supporting direct payment by the Company from MRPAM, Petro Matad is ready to pay as soon as the 2024 land use agreement is signed with the Matad authorities.
With local land use approvals progressing for 2024, Petro Matad is making preparations to complete the Heron 1 well. Contracts are in place with service providers and timing of mobilisation is under discussion. Talks with PetroChina Mongolia are continuing in order to have offtake arrangements including transport, processing, export and sale of oil in place once the well is ready to produce.
Certification of Block XX as State Special Purpose Land
This process is still being held up by the Provincial Governor’s refusal to sign off on the government’s key Tripartite Agreement and whilst completion of the District level approvals will allow 2024 operations to go ahead, the Company is still pushing for the long-delayed certification process to be completed. Certification will simplify future permitting and reduce the chances of interference. The Ministry for Economic Development, which is in charge of stimulating foreign investment in Mongolia has been very active on this issue and is preparing a submission to Cabinet to attempt to remove the obstacles to completing the process. The Company continues to cooperate with all relevant agencies to make sure this process is completed but, at the same time, is looking at any legal recourse it may have if the central government fails to rectify the situation and so delays operational activities in future years.
Renewable Energy Projects
Our renewable energy Joint Venture has had a very active period at the start of 2024, with its two high-graded projects having taken important steps forward.
The first project involves the provision of Green Hydrogen to Mongolia’s major Oyu Tolgoi copper and gold mine in which Rio Tinto is the major investor. An exclusive Memorandum of Understanding has been signed with Oyu Tolgoi and the Japanese Overseas Environmental Cooperation Centre (OECC) to develop the project and supply Green Hydrogen (which is hydrogen produced from renewable energy) which will be used to provide heat to facilities at the mine. Through the involvement in the venture of OECC, the partnership has already secured some Japanese Government grant funding to support this ground-breaking green energy initiative. An application for further grant funding is expected to be made in due course. The total grant funding for a project such as this could be up to 40% of the capital expenditure requirement. Oyu Tolgoi, in the South Gobi region of Mongolia, is one of the largest known copper and gold deposits in the world and Oyu Tolgoi LLC is a Mongolian company, jointly owned by Erdenes Oyu Tolgoi LLC on behalf of the Government of Mongolia (34 per cent) and Rio Tinto (66 per cent). Rio Tinto also manages Oyu Tolgoi on behalf of the partnership. Petro Matad is delighted to see SRE cooperating on this exciting project which is designed to demonstrate the potential for Green Hydrogen to be used as a fuel in large scale mining and so to contribute to the decarbonisation of such operations.
SRE’s second high graded project is the Choir 50MW Battery Energy Storage System (BESS). Choir is a town in central Mongolia and the site of the largest electricity substation in the central portion of the Mongolian national grid. The government has identified the need for a substantial BESS at Choir to help stabilise the grid and reduce high-cost import of power from China and Russia at peak hours, when Mongolia cannot meet domestic demand, and the economically wasteful export of power during off peak periods when the country’s base load exceeds domestic demand.
SRE has secured approval of the feasibility study from the Ministry of Energy for a 50MW BESS project at Choir and is now preparing the application for the licence to construct. This project could be online as early as 2025 and will help to stabilise the Mongolian electricity grid, reduce the amount of coal used in power generation and increase the dispatch of existing renewable energy producers. SRE is keen to move this project ahead as quickly as possible. Mongolia has recently commissioned its first BESS, an 80MW project funded by the Asian Development Bank, and this has had a positive impact through what was a very hard winter in Mongolia. The Ministry of Energy has identified a significant need for BESS projects around the country and SRE is well positioned as an early entrant to be a major player in this sector.
Mike Buck, CEO of Petro Matad, said:
“We are pushing to secure approval from Matad Soum for the land access required to execute our 2024 work programme and we are gearing up for operations during the summer. The negative reactions to the committee’s decision and misinformation spread by activists were not unexpected and underline why the central government certification process is so important for the long term and is our preferred solution.
However, with 2024 parliamentary elections looming and central government moving slowly, we are pursuing the local solution as a priority. We are also pushing the central government hard to resolve its internal issues which have created the frustrating obstruction of the state special purpose certification process for Block XX. We will buy ourselves a long-delayed operating window with the local approval for 2024 if we can get it, but we do not want to go through such a process every year.
Separately, the progress made by our renewable energy joint venture is very pleasing and to see it so quickly in partnership with Japan’s OECC and involved with the decarbonisation of the globally significant Oyu Tolgoi mine is testament to the credibility, professionalism and motivation of the team.”
For Mike Buck and his team, who must have the patience of Job by the way, they are doing anything at all possible to get get underway at the Heron field. I’d like to say that it might change anytime soon but I don’t see that and can’t hold up any hope that the authorities are doing anything to develop Heron, at least in the short term.
View this email in your browser
https://mailchi.mp/6a4265737393/new-treaty-creek-report-4755038?e=6f11d69fd1
Dear fellow shareholders,
Treaty Creek JV Partnership
Hmmmmm! If we can patent the recycle process we may be in the drivers seat for revenue in a major new industry of recycling the EV car batteries.
These links for the presentation might help
#14
https://lh3.googleusercontent.com/pw/AP1GczMZpqJpvXbwrwYicI4V8D0Y6eUS61-KBQXrOf2nMYbqcLJ4N0lw6Xuu8j_KbWdBYlKYFlXvSUM4CrDT131XlM7tYUp-snvv9z1OM1DGta7TtrF-aqvDXbe-dLSahEGGciTxUUwIb_G6nIb4KQUNAku_=w1080-h607-s-no
#8
https://lh3.googleusercontent.com/pw/AP1GczPEKcgCbKjj01cAT7pzGIWNj3w6ZAzMN7SFRmzSAfCydencXggqtrPRkXIAfyeNm9WIpWP-Hp_Ag0-Pcd2qvNQ41z5KMfn2F4acrUFZ2nSyyZYYj_H5ZiEdTVkUm7nHt5JkwKnqi0EVN7ivMQbpjFRM=w1080-h607-s-no
#9
https://lh3.googleusercontent.com/pw/AP1GczNv3dV5w8M3_KjkYwpbqlv9DFoKGmg5X1OyEco13_pbYGOsZzBhKZv3VFvnoKYItnPi2wErelGbL5bZ_uSuCMSHi-0zjxMJOyLrF0g5XbrBn0D35JLAQ0tH-ti3w1jwWDu_b9iMo4Q7BsJm0JtKovE5=w1080-h607-s-no
#4
https://lh3.googleusercontent.com/pw/AP1GczMkQyiwF4vEk1W5aNCu_T8qZFJrfd7aJs5RI-e_6ur0P7sspWgEh8NW8KFPhA7bVFA9KparRKGZKCCnJM3BAky513JwrFz4e2xoqXVoXtxTHx1A6ZCa0EjG67GR8lQdTbp2mBGbq0yywXm3VtiLz094=w1080-h607-s-no
#5
https://lh3.googleusercontent.com/pw/AP1GczM_4ODXJqJ77bGXwo2wVodkNcnbeGyKWlKn72Dv74wG41ZZVXZkoqqVAZJ8kUo2k-CCxFpt3yBhE2zv6I5-zuENeMBYQvOXaUn8lfyZ0Bf_nFviILWJOO9pltALCsAFQS3_sF65Dd2H7W_vqi5fHsbN=w1080-h607-s-no
#10
https://lh3.googleusercontent.com/pw/AP1GczMoBt11NmpE0KH60euBHvfPipJAWRY1RDZZyDXJP38C-SuT6BmW_GfidLCeGZ36axNUaVc82kD09uiTNWAZeh_-ADPo15Di_hTUgjcNGdnhR6c5nu57Z9gBvVGbi_0PnfyDdpJGNOJidldrrI6I3psJ=w1080-h607-s-no
#11
https://lh3.googleusercontent.com/pw/AP1GczMI_hF6RIyETkt7vxAE3ZI4IBqKLWpfbCaJwsjy-NgJG2bCaHYBrMJXsfJ0ydcHKd1UlW9vFctc5bLg8rmmcjx8x3lIbFhK7MNkTvEmlqhQpzNWf4a9733R0zLobOx4Xl1x4ptG4MlNCNI7-L_Yf-sW=w1080-h607-s-no
#12
https://lh3.googleusercontent.com/pw/AP1GczNXbq1h5pYw8xwspUkPFIGB1Psd_vSz9cI9Uk9VXCVYdGp5m4PusFmlY7ubita9aOfXzX_J1_rhFN7wO1i2FPvL7_SnFgQRHSKtJ5xJZpTEK4AzjFV9ryhCTwkahtRwRLj6yWiTonfmB3yQSMQUtM3j=w1080-h607-s-no
#13
https://lh3.googleusercontent.com/pw/AP1GczPTwR3F7IEWCr7DsPllrrn6M4JIFR9hjBQbw7FCPt3QoN2kr4YdTiKHWzHONcQK8f5QpU_HJFmxaRi7TRSE7LyBgdhbSl3Rh9fIEv2Gy3tx99nS-U6X4cAWKSSTxmLRaE72hDVS1jJMhzF1lEpy2UYu=w1080-h607-s-no
Thanks jeunke22 for your post #111016 4/20/24 5:08am
I hope he posters who post some financial estimates catch this post ... about the investor event in Antwerp
Thanks for posting this madmax
Tudor Gold discovers ‘Brucejack-style’ supercell at Treaty Creek’s Goldstorm
Tudor Gold’s (TSXV: TUD) Goldstorm deposit in British Columbia surprised geologists with a high-grade structure called a ‘supercell’ when it updated the resource statement in February, CEO Ken Konkin says in a new video.
“It’s very similar to the tectonic, structural corridor that we discovered at Brucejack,” said Konkin, who helped discover the nearby deposit, now one of the province’s biggest producers. “This is something that’s got three holes through it; some of the grades are 21 grams gold over 4.5 metres, with nice fine-grain visible gold – very good homogeneous distribution....
Read at and get the link for the interview (~8 minutes) at:
https://mailchi.mp/7933ff595045/new-treaty-creek-report-4755065?e=6f11d69fd1
American Creek's JV Partner Tudor Announces Filing of NI 43-101 Technical Report on the Updated Mineral Resource Estimate for the Goldstorm Deposit at the Treaty Creek Project, British Columbia
Cardston, Alberta--(Newsfile Corp. - April 9, 2024) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has filed the technical report (the "Report") for the updated Mineral Resource Estimate on the Goldstorm Deposit (the "MRE" or "2024 Treaty Creek MRE") at the flagship Treaty Creek Project (the "Project") located in the Golden Triangle region of British Columbia. The Report is entitled "NI 43-101 Technical Report, Treaty Creek Project, British Columbia", with an effective date of April 5, 2024 and was prepared for Tudor Gold by Garth Kirkham Geosystems and JDS Energy & Mining Inc. ("JDS"). The Report is available under the Tudor's profile on SEDAR at www.sedar.com or from the Tudor's website at www.tudor-gold.com.
Highlights of the 2024 Updated Mineral Resource Estimate for the Goldstorm Deposit:
Increased the Indicated Mineral Resource by 19% in gold equivalent ounces (AuEQ), consisting of a 16% increase in gold (Au), 14% increase in silver (Ag) and 32% increase in copper (Cu).
Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ within 730.20 million tonnes (Mt) at a grade of 1.19 g/t AuEQ; comprised of:
21.66 Moz of Au at 0.92 g/t, 128.73 Moz of Ag at 5.48 g/t, and 2.87 billion pounds (Blbs) of Cu at 0.18%.
Inferred Mineral Resource of 6.03 Moz of AuEQ within 149.61 Mt at a grade of 1.25 g/t AuEQ; comprised of:
4.88 Moz of Au at 1.01 g/t, 28.97 Moz of Ag at 6.02 g/t, and 503.23 million pounds (Mlbs) of Cu at 0.15%.
The CS-600 domain, comprised of a monzodiorite intrusive stock and associated gold-copper porphyry system, constitutes a large part of the deposit with an Indicated Mineral Resource of 15.65 Moz of AuEQ within 400.29 Mt at a grade of 1.22 g/t AuEQ; consisting of:
9.99 Moz of Au at 0.78 g/t; and 2.73 Blbs of Cu at 0.31%.
An 58% increase in the AuEQ ounces within the CS-600 domain.
The 2023 drilling improved our geologic understanding of the mineralization in the northern portion of the deposit. The NS-STK Domain was reinterpreted to be a NE-SW trending stockwork and is associated with the 300H Domain mineralization. This system has now been separated into its own mineral domain, named 300N.
Advanced metallurgical studies and refined the pit constrained and underground cutoff grades, increasing the pit constrained cutoff from 0.5 to 0.7 g/t AuEQ and the underground cutoff from 0.7 to 0.75 g/t AuEQ.
Substantially reduced the pit size which eliminated the necessity to remove the glacier and reduced the strip ratio.
The Goldstorm Deposit remains open to the south, north, northeast and at depth.
Read at:
https://us5.campaign-archive.com/?e=6f11d69fd1&u=af629dcbbf88a5932a7e484e3&id=85dda5483c
Thanks chico
Thanks NCT for your recent posts and clarifications (#'s 110285, 112086 112087)
Correction it was not:
ge11's post # 110261 was also helpful
But NCT's post # 110173 04/04/2024
That was very helpful
Thanks NCT for your recent posts and clarifications.
ge11's post # 110261 was also helpful
NCT in your post # 10173 Thursday, April 04, 2024 12:50:09 AM you included