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Doug replied that they will be having 2 harvests with rice and peanuts(at least trying). Good. That further optimizes the advantages of the climate of Sierra Leone and use of limited farmland.
More food is great for locals, farmers, and SGCP.
Dredging in June and July is basically the reverse of March and February. The river becomes higher and faster so dredging productivity falls rapdidly. Of course each year is different.
So I figure all of May is good, and at least half of June: 45 days with 3 dredges operating full-steam at Zimmi and 1 dredge at Bo.
After that who knows how much will be recovered in the high fast river waters.
SGCP can still have a GOOD season even with only 1.5 good months remaining (who knows about June/July with rains and river water rising fast).
But next year, SGCP can have 6 dredges at Zimmi and hopefully find another bonanza "pay gravel" site next year.
60k * 45 days = $2.7 million !!!!
Plus the gem(??) quality colored diamonds.
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Plus the gold/diamonds from the Bo site
And Yele site?
Rojotu, its divided by 31.16 grams.
31.16 grams == 1 troy oz.
Did you bother to look at the math?
$60,000/day with one dredge at Zimmi using 100tph dredge.
2 gr/ton * (80 tph * 8 hr)/31.16 grams * $1500
$30,000/day
if 1 gr/ton
$15,000/day
if .5 gr/ton
Handscoop sample on river edge was 2.64 g/ton and not the bonaza alluvial "pay gravel".
Quite the selloff in gold today, around $30.
Maybe SGCP should acquire as many river leases as possible.
Sort of like buying up internet domain names. One guy bought Pizza.com for $1 and auctioned it off 3 years later at over $2 million.
Penny, SGCP will probably have the greatest next 3 years due to bonanza Zimmi alluvial deposits.
SGCP should find at least one more bonanza deposit each year imo.
Zimmi appears to be multi-year bonanza deposit containing gold and diamonds. Who knows maybe rare earths as well.
Clearest indication having 3 of 5 dredges there and acquiring more leases.
All it takes for SGCP to make $10s-of-million is one large bonanza "pay gravel" deposit. Zimmi.
Ask now at $1.01 !
$1 today?
Hope so.
Sorry duped, the company already published conservative gold and diamond estimates for the world. BTW far more than 4 carats.
So a handfull of 4 carat diamonds is no surprise.
One large bonanza deposit could make SGCP's fortunes for the next 2 - 3 years. Sounds like SGCP found one at Zimmi.
As profits allow can keep increasing dredged and maybe frontloaders for small open-pit gravel mining. There are more bonanza alluvial deposits to be found in SL.
STI, thanks for asking all the right questions.
SGCP could sell the "smaller" diamonds and stockpile the larger ones that are gem quality. Show the stockpile of larger diamonds to a banker/financier for the $30k loan.
Once again thanks for you great post.
For armor, an effective demo would be to shoot armor used by our troops today and then shoot kryron armor - side by side. See the ceramic armor shatter and kryron keep protecting after say 10 AP rounds from point-blank range. And the same for the kryron helmets.
ttmasher - SGCP found a BONAZA deposit of gold and colored diamonds at Zimmi. A large bonaza site.
SGCP has found a gusher in the 4th year of its history.
Eureka!!!
Phil, sounds to me like Zimmi is a bonanza of "pay gravel" deposits - GOLD and probably gem quality colored diamonds (4 carats - biggest diamond finds in company history). Sounds like the company believes it is a large gravel deposit and wants to protect it by securing additional adjacent leases.
Another exciting part is this bonanza deposit is large enough to provide years dredging.
Eureka!!! .. Bonaza ..large Sweet Spot
STI, really liked this part: "we are working a catch basin for gold & diamonds. We have found a few 3-4 carat size diamonds already"
Catch basin for gold & diamonds!!!!!
Sounds like a great deposit to worked for a couple of years.
STI, Thank-you!!! I think this deserves a stickynote.
I didn't realize that the dredges were already dredging at Zimmi. Figured they were still being moved.
STI a very encouraging post. Hope the next FR/PR from the company has actual recovery numbers.
Thanks STI!!!
Longterm, you make a good point - maybe they didn't report gold recovery figures because there wasn't any to speak of.
That is where the company has left the investors/stockholders.
I think probably not, but can't totally rule it out either.
If there wasn't any they should just say so or if there were xxx ounces - they should state that.
The company NEEDs to publish the gold recovery numbers!!!!!
Doug and John know that the stockholders are WAITING for them.
The good news: SGCP found 2 "pay gravel" sites that have GOLD.
And maybe Zimmi has lots of GOLD. These "pay gravel" sites at Bo and Zimmi are most likely have more than enough profitable gravel for years of dredging. The many feet of overburden have protected these "pay gravel" sites.
So the good news of the FR is SGCP found 2 sites with gold.
So spec you were "pumping" the good news/"sweet spot" news from the FR so you could sell totally out at the highest price?
Sounds like it.
Uponstock, that stock has gone from $.20 to .0185 to .02. All on speculation.
flying why is it ridiculous? Many investors were expecting ounces of gold recovered from the "pay gravel" that the 4.5 dredges had reached 4 weeks ago. It's a monthly FR. 4 weeks of dredging full steam on "pay gravel".
But the company published no ounces gold recovered numbers
The company NEEDs to publish ounces gold recovered.
Don't care whether in a PR/FR. Hopefully they will breaddown recovery numbers by site.
Cancun, "a fire"? The news from the FR is they moved 3 dredges.
The CC events essentially the same "we hired a consultant"/consultant firm to complete CC doucuments.
The farming expansion plans are not new.
Having said this, I think most investors will see the move of the 2 dredges to Zimmi as GOOD news. The company has pretty much indicated that they found gold in the "pay gravel" at 2 sites. And probably the Zimmi site is rich in gold (but that is conjecture).
The company provided no ounces recovered from any of the site. When the company reports, hope they breakdown gold/diamond recoveries by site. Other precious metal mining companies do this.
Imo we need ounces recovered from both Bo and Zimmi sites.
Found significant gold in two virgin alluvial "pay gravel" sites, Bo and Zimmi. In any river dredging operations, finding significant gold/diamond deposits is the big challenge.
Zimmi site sounds exciting. Must of found a large rich gold deposite in the Zimmi since 3 dredges will be dredging side-by-side.
Other companies are dredging in Sierra Leone - they have done multiple analysis of dredging samples and the competition shows very very profitable river sands and gravel with precious metals, diamonds, and rare earths.
SGCP has found two good "pay gravel" sites!!! These two sites probably good for several years of dredging since the virgin gravel was protected by many feet of overburden.
deet, what we need now are the 1 dredge recovery numbers from Zimmi and Bo. If the actual 1 month gold recovery numbers show at least .5 grams/ton on the "pay gravel" alluvian deposit, SCGP price will soar.
What we have seen is what matters is location location location. Twenty dredges working gravel without much gold is not all that exciting.
I've asked to company to publish these numbers, and I hope others also ask John and Doug. Publishing them in a PR is fine with me, but an FR works also.
Penny, if company confirmed .5 grams/ton of gold recovery in Zimmi/Bo, the stock price would JUMP. The gold environment right now perhaps is a once-in-a-lifetime event. Multiple alltime highs day after consecutive day.
If the company could confirm this, the PPS would JUMP. If it is higher than .5 grams/ton, all the BETTER.
But the company must confirm with actual recovery numbers from Zimmi and Bo.
Need confirmation of .5 gram/ton recovery !!![color=blue][/color]
If the company can just provide us confirmation of recovery of at least .5 grams/ton at Zimmi and Bo sites, the company is off the races. And the stock value can climb to the ????
500 oz gold *1500 = $750,000/month (assuming .5 gr/ton of gold)
Say Zimmi & Bo recovery is only .5 grams/ton:
(( .5 gr/ton)/31.16 gr) *40 tph *4.5 dredges * 7 hrs * 25 days = 500+ oz
Throw in some 1000 carats of diamonds and we have $1 million.
The good is SGCP has found 2 sites with recoverable amounts of gold (Zimmi, Bo). And will move 2 dredges to take advantage of the recoverable gold. Sounds like they could be multi-year sites.
Unknown: How much gold is being recovered at these two sites.
Not so good news: 3 dredges apparently spent 3 months on sites with not that much recoverable gold(?)
Spec,
Won't the 2 moved dredges need to remove the overburden first? Didn't doing that take 4 - 5 weeks?
Just want to be realistic here. I think designating Zimmi as a "sweet spot" is premature. Obviously it has gold - which is a GOOD thing.
If Zimmi was a "sweet spot", the 1 dredge there would have made FAR MORE that $337,000/month.
Did even one dredge site meet the company's conservative estimates of 1 gram gold/ton?
Let's say Zimmi site with 1 dredge:
40 tph * 7 hours * 1 gram gold/31.16 * 25 days = 225 ounces gold/month.
225 * $1500 = $337,500/month
---------------
Question: Did the 5 dredges combined even make 225 ounces in April?
So did they dredge 3 blanks on "pay gravel" sites (blank is probably way too strong)?
But 2 dredges sites have "pay gravel" containing good quantities of gold/diamonds. Zimmi location must have a large rich deposit of gold - probably multi-years worth. 3 dredges working this same rich deposit.
Anyway the good news is the company has found 2 sites of virgin alluvial gravel containing good quantities of gold/diamonds. Probably both sites are multi-year dredging properties (alluvial gravel sites).
The CC and farming expansion plans is not new news. Although instead of a consultant they have decided to JV with another firm on the CC.
Gold/diamond recovery results from the 1 Zimmri dredge over the last 4 weeks would have clarified a lot. And been extremely helpful.
The really GOOD info is we know that they found gold in one location and this virgin alluvial deposit must be sizeable since Doug leased out 3 additional adjacent locations and moved 2 other dredges there.
They can keep dredging this gold rich gravel for YEARS (??) since the virgin gravel is protected by feet of overburden.
Also the Bo location must have found gold/diamonds.
Maybe this is equivalent to a hardrock mine finding a very rich and large vein/ore-grade through exploratory drilling.
Fact: They needed to sell shares for money in April.
We learn they decided to move 3 dredges. So doesn't taking those facts suggest, they did not find the gold/diamonds for 3 of the dredge locations? Remember they moved those dredges based on previous test results.
Sounds like they found gold in Zimmri location though. Hope it is a sweet spot/honey hole - but that's speculation.
Is this all I want is nice steady progress from the "reformed" RGI guys shouting $.05 or more JUST LAST month.
Hmm?
Which should one believe last months RGI expressions
or this months.
Doesn't matter, the FR may disappoint or exceed expectations.
But in this once-in-a-generation gold environment, it would be nice if they exceeded.
Agree though, it doesn't have to be a great FR/PR for progress. We already know there is progress: 4.5 dredges going full time - that has never happened before.
Other companies are moving in with dredges: Sewa and Pampana.