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Sean (CEO) on Meteorite Thesis and Steve Dobson:
Sean reached out to me to comment on some of the research I was sharing concerning the possible magmatic or meteoritic origins of PGM's in central idaho or the Idaho Batholith. I have since deleted many of these twitter posts of mine because they are extremely inferential and do not explain even foundationally as to why some of these XRF readings are so high in iridium, nor the implied ubiquitousness of PGM's across their claims. I will quote below because I think it is important to the conversation here:
Sean: "Nice work with the meteorite research. Dan, Steve and Guy have had a lot of discussions on it and believe it is a fragment impact from 67 -69 m years ago" .... "Steve thinks it's part of one that hit the Montana basin."
Me: "I am curious about Steve Dobson's background. I have not been able to find any information about him online. Does he have any PG or other geologist accreditation(s) that can be cited?"
Sean: "Steve graduated from Montana Tech with his degree in Geology. He was a State Geologist for Montana for over 10 years. He has worked as a field geologist for over 35 years. He has worked in mining, oil, and gas exploration. His specialty is gold mining operations and he worked with platinum group metals at Sweet Grass Hills Montana on the Gold Butte Project. Dobson's work in this area involved geological mapping and resource assessments, contributing to a better understanding of the mineral potential in the Sweet Grass Hills. His expertise in managing complex ore systems was crucial in evaluating and developing the mineral resources in this region, particularly focusing on the minor but historically significant gold and silver deposits."
Sean:"Steve was really instrumental here in looking into a meteor strike and platinum group metals as the reason behind the low fire assay numbers. He did extensive exploration throughout the area in the evenings looking at rock formations and started to see signs of a meteor strike."
There must be some explanation for how that rock got there and why those iridium concentrations are so high.
My first impression from the way it looked also was that it was poured.... That still doesnt explain how it got there and why there's so much iridium in it.... nor does it explain ores being tested are "consistent" with one another (Between underground adits and stockpiles) if such a thing was found in that pile.
Do some serious research and come back, Gitreal.
No more guesses. No more poop flinging just because. I don't want any more knee jerk reactions like you've been giving me so far. I want serious research. Go read some some academic works, suspend disbelief, and put your brain to work as to how that rock could have gotten there. Come up with a reason that's not the same old "it must be fake because its OTC."
Follow-up Research on Terrestrial Iridium Concentrations
Gitreal: You are a bully, especially when it comes to geology and measurements. The man said what he said. The assays and technical reports for the Walla Walla project are available to view online and are in some ways more thorough than the Lucky Ben. Rest assured it was sampled and measured properly, and is more than representative enough of the resource that was sold given the valuation at sale.
The presence of iridium at 8.16% in the sample is highly unusual for terrestrial rocks, including those typically found in geological formations like the Idaho Batholith, where SDRC's sample occurred. Iridium is indeed rare on Earth's crust due to its siderophile (iron-loving) characteristics, which caused most of it to sink into the Earth's core during the planet's formation. However, iridium is notably more abundant in meteorites, particularly in certain types of meteorites known as iron meteorites, but even this does not fully explain SDRC's steeply anomalous sample.
Iron meteorites, which are composed primarily of iron and nickel, can have iridium concentrations that vary significantly but are typically in the range of parts per million (ppm) to 0.5% by mass. However, even in these cases, 8.16% would be extraordinarily high. Stony-iron meteorites (pallasites and mesosiderites) also contain iridium, but again, the concentrations are much lower than what was reported by SDRC.
On Earth, high iridium concentrations are generally associated with layers in the geological record where large meteorite impacts have occurred, such as the K-T boundary, which is marked by a thin layer enriched with iridium, leading to the hypothesis of a massive impact event (such as the one that led to the extinction of the dinosaurs).
In my opinion, the idea that a sample from the Idaho Batholith might exhibit high concentrations of iridium similar to those found at the K-T boundary is a fascinating proposition, not to mention the most geologically sound explanation presented so far, aside from (dare I egg you on) error or fraud. The K-T boundary is primarily known for its high iridium levels, and can be found at various points around the globe, indicating widespread deposition of extraterrestrial material from the impact event. To date, there are no well-documented impact craters associated with the Idaho Batholith, but there are lesser documented ones such as the Beaverhead Impact Structure (crater over 50 km in diameter.) Studies of central Idaho's geology have mainly focused on its magmatic history, mineralization (especially of elements like gold, silver, and lead), and tectonic evolution. There hasn't been widespread reporting or identification of iridium-rich layers akin to the K-T boundary within this region, but just because there's an absence of documented iridium anomalies similar to the K-T boundary here, it does not entirely rule out their existence. Geological anomalies can go undetected until specifically searched for, especially in less thoroughly studied or difficult-to-access areas like these.
SDRC has a monumental undertaking before them, wouldn't you say? Something requiring great care, time, money, perhaps the recruitment of cutting edge technologies like like ICP-MS (Inductively Coupled Plasma Mass Spectrometry) to survey the broader area.... something that could provoke a massive response from the academic world and dramatically change our understanding of the region. Something if found to be of economic value that could provoke renewed commercial interest to the surrounding mining districts....
Expecting updated lab assays of all their properties.
In addition to the large amount of gold and silver being processed for sale as we speak, they seem to be investigating the addition of other rare minerals on their properties. This was spurred by a series of anomalous XRF readings shown to us in May, and yet to be released lab assay reports possibly confirming PGM's in some of the stockpiled ores. Not only are they looking to confirm what may be a PGM resource in the claims associated with the stockpiled ore, but in all of their underground mining claims, including Walla Walla which is 10 miles north of the Little Giant / Lucky Ben projects in Warren. The investigation of PGM's, who's geological basis for remains ambiguous at this time, suggests that SDRC believe they may find out something that 150 years of assumptions and information gathered about this region failed to notice.
If PGM mineralization is confirmed, that would be something extraordinary, and would attract renewed academic and economic interest to the region.
If PGM mineralization remains inconclusve, then so what? We move on and sell our gold. SDRC moves on into their already assured bright future.
Twitter Post - 2024-07-09 - Sidney Resources Corp. - @SDRCMINING
In collaboration with @forestservice, we are currently developing the operational plan for the Walla-Walla Project. $SDRC : https://sidneyresources.com/walla-walla
47 claims make up the Walla Walla group, of which 3 are near production readiness. These claims complement the 24 existing claims surrounding the Little Giant Vein at our Warren District Project. https://sidneyresources.com/warren-district
As we continue to collect samples from the Walla Walla, we have observed similar materials to those found in the stockpiled ore and the Little Giant. This is something we are working diligently towards confirming.
#Gold #Silver #PGMs #Idaho #Invest #America
Twitter Post - 2024-07-09 - Sean-Rae Zalewski - @SeanRaeZalewski
$sdrc more #gold highest assays at Walla Walla are 377 grams per ton or 13.3 ounces per ton of gold.
#miningstocks
You still fail to see what makes SDRC special.
Gitreal: Just to clarify, your attempt to invalidate the company's value proposition, whether its on a mineralogical or de-risking basis, and presenting criteria that investors ought to use to filter their portfolios, is very much indeed investment advice.
Technical reporting prepared by licensed geologists, SEC reporting, drill logs, audited financials..... Every one of these, in essence is aimed to assure and please investors and financiers, and is very expensive. None of these are required to list on OTC. You forget that this is start-up investing and that these companies are pre-revenues. SDRC must get as much done as circumstances allow, in pursuit of their goals of attaining revenues as possible, without taking on unneeded expenses. This is what they have done and continue to do. They are alive. Dilution remains minimal and is outpaced by growing shareholder-base. They are closer than ever to revenues. The evidence overwhelmingly suggests that this is the right path for this company. So if SDRC is financed to production (which they are), and has a growing shareholder base (which they have), they very much should wait to do all these SEC, 43-101, compliant stuff when cash is flowing from gold sales. In my view, this is a product of a management that is incentivized towards shareholders and the long term success of this company.
Its a constant balancing process trying to please the risk-assessor mining-industry types (like Gitreal) just enough to get by, while promoting just enough to create investor interest, while doing things as cheaply and efficiently as circumstances allow lest they have to dilute their share structure at the expense of shareholders.
The main reason why SDRC is special, is that SDRC, unlike so many mining companies listed on stricter exchanges who make it more prohibitive and precarious for shareholders just to stay listed, who find themselves in dilution and debt sprirals, who fizzle out long before production could even take place, who hire big shot managements who take huge salaries, who dump money into drill campaigns, rounds of feasibility studies that take years, unfavorable financing terms, all kinds of other things...... SDRC has a chance to attain production by taking a straight and narrow path cheaply and efficiently, while preserving shareholder value.
They have the gold, they know they have the gold. They just need to get it out and sold. Remarkably, in 4 years the company went from a boarded up hole in the ground, to now processing, and accumulating sales agreements which will consummate by the end of the year. Money will flow, early investors instead of their amortization reward will get a dividend, and the company will soon be a revenue producing mining company. They will then evaluate what kind of de-risking, next level, exchange compliant type stuff is appropriate. All in due time. SDRC is doing it right for their BUSINESS, and this in a way is revolutionary.
I didn't know that. Follow up research!
It looks like the majority of the worlds REE supply is indeed mined, and they come from the minerals Bastnäsite, Monazite, Xenotime, and that of Ionic Clay Deposits. It looks to me that Bastnäsite is what is most likely found in United States of the 4, but this assumption differs from that of the elements listed by SDRC: Thorium is known to be found in Monazite, and Yttrium is known to be found in Xenotime and Ionic Clay Deposits.
Correct so far, GIT?
...And an aside as to why its important to investors to realize that you have never had anything positive to say about any stock whatsoever:
Investors investing their hard earned money should necessarily take investment advice from other investors more experienced than them. They are emboldened by the fact that those people they take advice from have made money and continue to make money for having made those investment decisions that are to be relied on for their soundness, informed by experience. Gitreal, you have no investing experience, at least none you will admit to. What you do have is extensive shit-talking experience. For this you will be renowned by other shit-talkers, who then may take shit-talking advice from you, emboldened by your many years of gathering shit-talking experience. What advice nobody should have any business taking from you, though, is investment advice.
Say 1 good thing about 1 good company, Gitreal.
I've never seen you say anything good about any public company, ever. It's like it hurts you to do anything but the pathological shit talking. Can you at the very least angle your speech towards constructive criticism? If you wish to have a stimulating conversation beyond insults to eachothers intelligence, I'm not sure any more of this "Ive won, you've lost" bullshit is appropriate.
"company has never issued credible assays in a credible technical report" .... "posts on X where the CEO references the COO referencing an unnamed geologist who says "if"" .... "They have a consulting geologist on board, right? How about that geologist write up a little report with all the assays they've generated so far. Maybe some geological maps of the workings? A cross-section or two? And have him sign it and stamp it with his registration. "
"I'd like to hear an explanation of how "meteoritic material" got mixed in with piles of forgotten ore recently found in the woods? And I'd like to hear how iridium got enriched in the material"
no meteorite, no rock, no mineral has ever been found that has iridium at 8%
I'd like to know how these guys managed to find PGMs in their "ores" in a mining district where PGMs have never before been found, and the geology is not conducive to having even trace amounts of PGMs.
"I'd like to know if their geologist understands that REE are present in just about any rock type, anywhere, at some level. It's called background concentrations.....crustal abundance of REE is well documented, and their geologist should (and probably does) know better."
No examples of stocks worth investing in, gitreal?
So you're not a trader, nor an investor. You merely exist on this platform to talk shit? Multiple posts a day for over 10 years? How does one become beyond obsessed with stocks, spend so much time on stock discussion boards, developing no vested interest nor intent to make money on them whatsoever?
....and what about our friend the arborist? Do you guys have anything better to do than to act like clowns in this piece of hell you've carved out, calling other people's investments scams? Nobody posts here because its full of mentally ill people like you. All you ever do is deter people from this platform, while the stocks audience grows. They're all on other platforms where there's actually algorithms in place that favor quality content.
I refuse to talk about SDRC's assays until they are released. If this PGM business does turn out to be a shameless stock promotion scheme then shame on them. My bet is its not, even if results come back inconclusive. Its merely engagement with their audience, transparency while they investigate what they never knew they had, in an, admittedly, upside down ass backwards way. That is only because they happened upon these additional minerals by mistake, half way through dialing in their processing protocols and concentration test runs. The fact that you're so desperate for a reason to call a stock a scam is a reflection of you, not the stock. Even if Sean Zalewski is a shameless promoter of mere possibility, its still not a reason to call the company a scam.
What mining companies do you recommend investment in, Gitreal?
Any on OTC? or they all necessarily compromised, guilty until proven innocent? All I see you doing with your precious IHUB premium membership is talk shit. Where would you put your money if you were an investor in this sector?
SDRC assays are a moot point. We will wait until their arrival as the geological basis for the existence of any newly identified minerals in these ores remains unclear.
Assays and hard data will be released soon. Why bother inferential argument? Who's teasing who here?
Read the company's filings and read their media releases. Their XRF work has lead to the need to conduct more extensive assay work than anticipated to measure the contents of the other minerals that appear to be present in the concentrates; minerals that will have economic value if proved consistent. Not only is there potential for economic value getting overlooked by skipping this stage, but significant intellectual value that may even lead to a breakthrough that strikes at 150 years of assumptions and information collected about the regions geology. To their credit, for the majority of those last 150 years, research was almost non-existent and exploration neglected. Platinum would not have been a focus of exploration for the entire time this community was productive. Yes it sounds unlikely because it is (and that's OK.) Regardless, most paying attention see almost no downside to investigating the clues they have identified, but virtually all upside / potential reward.
Nobody will be deterred if assumptions about PGM's or meteorite fragments prove inconclusive. Nobody is marketing meteorites as an investment thesis. It is but 1 explanation for the anomalous XRF findings especially if error has been ruled out, and so, they are exhausting other analytical methods, which is the responsible thing to do before moving on. Ruling them out without investigation, like what gitreal would do, is not the responsible thing to do. You stressed assay results are the legit thing to do, and so that's what they are getting from multiple companies, yet that, ironically, has not stopped you for disparaging the company for their pursuit of incontrovertible data. Assay data will be released because further study and professional opinion is needed, of course! We will all see it when it's released. I look forward to a lively discussion when it comes, I look forward to the lively discussion when it comes and to hear more of your lovely constructive criticism.
The fact that they are delaying the finalization of their processing protocol is not an indication that the supposed large amount of gold ore does not exist... but in fact with such a large amount of value at their site, they better take their sweet ass time getting processing right, and if they start getting XRF readings of other minerals of economic value in the concentrates, they better exhaust possibilities upon it and measure it lest they offload product leaving money on the table.
I know think you think that PGM's don't exist in North America, Gitreal, which is absurd. Nobody gives two shits about your "Red Flags." You gotta flow with the expectations for this startup investing market. Sure, the unaudited financials thing is plausible, and the no assays thing is more than plausible, but we are talking about a pre-revenues company here. A startup. I, however, will go so far to bet that we WILL have audited financials by the end of 2025, SDRC will be SEC reporting and compliant in a similar timeframe, assay results will continue to be released by the company at least once a year, and certificates of analysis of the concentrates will be released upon sale of each batch. It is still my assumption that SDRC will make sales of concentrates by the end of THIS year, and values will be predominantly derived from the gold content. The evidence supports that there will be a dividend issued q4, that the company is fully financed to production, and SDRC is on more than solid footing going into next year.
You guys seem to be having a good time with this lol
A quote from q1 filings concerning assays:
"We have encountered unusual anomalies occurring in the dore' material and are conducting extensive testing at numerous fire assay labs to determine the exact mineral composition of the material to determine the best course forward in processing and testing the concentrates. During fire assay testing it has been determined that a significant amount of Gold is reporting to the slag and high volumes of silver are reporting to the tailings. The reporting of valuable metals like gold, silver, copper, and iridium in our XRF scans further illustrates the rich potential of our mining operations. We are continuing to test materials to determine the level of any iridium and other platinum group metals that are being identified in the XRF scans. It is our opinion that XRF scan results do not confirm the presence of iridium and other platinum group metals but with this information and other indicators we have observed we believe there is sufficient evidence to warrant further study."
"prepared for shipment to assay lab in Germany"
https://x.com/SeanRaeZalewski/status/1808163389715226905
https://twitter.com/SDRCMINING/status/1808161227312427148
"One thing we do know, we got gold."
Osmium, Ruthenium, Platinum, Thorium, Gallium, & Yttrium
...the ores at the mill site contain these in addition to the alleged persistent Iridium.
Link to follow up post from May 6th on Twitter:
https://x.com/SeanRaeZalewski/status/1787556622287466558
Link to May 6th XRF readout on Twitter:
https://x.com/SeanRaeZalewski/status/1787508017929322702
I fully expect SDRC to revisit drill cores, basically all exploration work, everything they have ever done in order to exhaust this PGM and REE business. They will do this before disclosure of assays. They will do whatever it takes to secure as much of that MVP position as they can in the Warren district before showing all the cards in their hand, if ever. One of the things that means is securing the appropriate mineral rights before competitors will wise up to SDRC and rise up to interfere.
The last time SDRC released lab assay reports, at first, it was only in part: a chart showing extrapolations. The whole point of which was probably precisely BECAUSE nobody would give two shits about it except their retail investor audience. It was in October 2023 immediately after the discovery of the historical (both lode and placer) stockpiles... those same that were moved to their mill site and that they are working to separate and concentrate now. The news of that discovery, was released ONLY AFTER the claims were staked and mineral rights were proven to be secured under their company. 8 months later, we got a screenshot of the Certificate of Analysis from Florin Analytical Labs dated 8 months prior.
It stands to reason that the ore that showed remarkable likeness to meteorite material (8% iridium, and whatnot) needs to be studied in the dire interest of exhausting what could be a geological breakthrough for the district. This knowledge would strike at the foundation of 150 years of assumptions and information collected about these claims. We have every indication the effort to understand this district has been, underfunded, overlooked, and otherwise neglected for at least 100 of those 150 years.
It's clear that SDRC wants to expand in the Warren district. They believe they know things that their competitors don’t. They are now calling the Lucky Ben Vein/Drift the "Little Giant vein," sharing the name of a portal under a mile directly east of their properties in the Warren District. They attempted to buy property from Unity Gold Mines in 2022 as we have seen... that same property Unity are in agreement with Endomines for sale. Any time now, the deal between Unity and Endomines can fall apart and SDRC will surely swoop in.
I am beginning to believe there is an ongoing effort currently to grow their land footprint substantially before SDRC shows their cards. This, merely an educated theory, does a great deal to help explain the process of discernment of how and what they are disclosing at this or any given time. Precariously, they are a public company who's pride is in a great deal derived from their dedication to transparency, and despite that, have grand plans to expand and capitalize upon their valuable knowledge of this district. Their investor base is used to a high level of engagement and so, as any public company must, release what only what is necessary to keep engagement alive and investors happy as those plans are pursued amid such high expectations and anticipation of revenues this year. Something big is afoot, and just like everything else committed to legitimacy in this tough sector, is a multi-year effort to develop. Who knows if we will see the product of it in 8 months or even 16 months... but along the way we will surely see the products of some things, enough to reinforce our cult-like faith in the fact that the machine is working as it always has (and better than ever.)
There's a theory at play hypothesizing that meteorite material coexist with SDRC's vein and stockpiled material. This is the only geologically-cited theory presented so far as to why REE's and PGM's are found in this ore. There are pictures of XRF gun readouts along with pictures of ore pieces on twitter.
https://x.com/SeanRaeZalewski/status/1787556622287466558
https://x.com/SeanRaeZalewski/status/1787508017929322702
https://x.com/SeanRaeZalewski/status/1787508379876815275
Another suspenseful onset of lab assays is upon us.
...this time measuring a selection of PGM's and REE's found in anomalous XRF readings of one of the historical stockpiles and its concentrated material....
Sean-Rae Zalewski
@SeanRaeZalewski
There seems to be some confusion. The presence of PGM in $SDRC ‘s ore is a definite boon.
The offtake agreements that we are discussing and working on with the groups that will be the buyers recognize the PGM’s, and that will be part of the offtake agreement.
An independent geologist said “He said if the XRF data on the ore is correct, the ore could be worth $45K a ton with the gold, silver, platinum and iridium the XRF indicate are present in the raw ore”
This quote is directly from COO Dan Hally in a email to me.
#gold #PGM #silver #win #invest #goldmining
10:17 AM · May 7, 2024
Sean-Rae Zalewski
@SeanRaeZalewski
We have discovered / uncovered the associated 6 foot in width and 8 foot in width veins as mentioned in last years PR associated with the new claims and ore pile.
In my opinion, this should be very a very bullish position for our shareholders as it exponentially increases the probable reserves held by the corporation.
$sdrc
As a reminder the previous inferred reserves placed the low range of the assets before this claim in Warren at about $5 B when gold was in the 1800’s. That is based on the USGS data and Goldstone reports from the 80’s and various other geological reports over the last 20 years on the sure.
9000 ft confirmed distance on your property. Peak if the structure is about 1 1/2 feet in width with a lower width of 4ft running over 800 ft deep.
Now add these others and it gets really amazing.
Cheers
9:07 AM · May 8, 2024
You are speaking some sense here gitreal. Thank you.
I hope that there is more to this PGM business than presented because if this is it, all it is doing now is inflating expectations only to inevitably under-deliver. I have always believed in the principle of underselling in order to over-deliver, but in business I and this company seldom share the same circumstances.
Holding back production of the gold and silver in order to develop their process to handle PGM's should not be done unless absolutely sure the added expense, time, and complication is worth it. There's a reason mining companies conduct feasibility studies only after a long term scope and measured reserve is established. Sure right now, selling concentrates to a buyer who will honor values is a low stakes proposition, but we are talking about eventually producing refined product in house. From what I understand, the difference in melting point, density, hardness, and thermal resistance when compared to gold make these elements much more complicated to work with. They are even hashtagging REE's on a regular basis now. To my knowledge, all of these are predominantly produced as byproducts of large scale production, or recycling, rarely economic as a primary mined resource.
I don't know anybody who invested in the company because of PGM's. I personally don't remember ever giving a shit about platinum group metals in the state of Idaho before this year. I think whats going on is that we have a committee within the company made up of varying degrees of experience with this stuff. They are just slowing things down to make the lot of stakeholders happy, and feel like they are not leaving any money on the table with prejudice. The decision to pump PGM's on social media, was always something I entertained tongue in cheek, but I do give them the benefit of the doubt, admire their work ethic, and their necessarily having more information than I. I have grown to trust the people behind this business and I understand that that necessitates some tolerance for error. I more than anybody want to move on from this stage of forced inference concerning the drama of a prospective breakthrough PGM resource as soon as possible. Take as long as you need but act as quickly as possible if unanswered questions are presented that are easily and expediently answerable.
To quote Dan Hally, "One thing we do know, we got gold." At the very least, certainty upon that fact is affording them the time to experiment, and that's how i have chosen to look at it so far.
I have no doubt as to the presence of PGM's in at least one of the ores they will be selling, but I am curious to find out if the contents are economical within the context of their operation. The gold is clearly evident but I do reserve a grain of salt for the other metals in the concentrates, besides silver, being of comparable value to the gold or anything close to what can be called an economic resource of PGM's. If they turn out to be, great, and that will be a profound breakthrough for the district as you have said. I believe the company reserves the same doubts and they have indicated they are exhausting such with assays as we speak. It could be argued whether or not such is best kept on down low until more conclusively supported. If their hopes are confirmed, great! If not, great, they can then move forward with some certainty that they have exhausted measuring the value of the ores to be sold, and can build their facilities for the long term with confidence.
Those calculations you refer to are hypothetical based purely on the information expressed in two tweets by the CEO, nothing more, nothing less. ...and yes, assumes that all precious metals present in concentrates are gold one can arrive at a ballpark if the value of the ores indeed come from a mixture of precious metals and PGMS. Its loose and relies on steep inference, and we should expect it made irrelevant very soon with verifiable data. I 100% agree that statements about grade should be accompanied with some sort of accreditation if opinion or assay data from an accredited lab. Honest.
I want to respect your opinion. I do respect your experience with the OTC scams of the past in particular, but I find it unfortunate that you have resolved to such dismal conclusions about this particular stock, from what I observe as a result of lazy cynicism at best. Please look harder into companies history and legitimate efforts to make something legit take place here. Suspend your biases. You have given some good criticism that can be very constructive for this company. Ambiguousness just makes the uphill battle to appease naysayers harder, sure, but long periods of silence because there's nothing to report have caused problems too.
Have you watched this video? Link:
Also, no shame in giving out clown emojis 👌🤡
I have no shame in anything I've said here.
Gitreal, it's a gorgeous fucking Saturday. Get the fuck outside and touch some grass. We investors have done our due diligence and can do a few days without the Batman of Ihub and OTC mining stocks to protect us.
I encourage anyone paying attention to go back and read our posts.... for entertainments sake at the very least. 🤯 Crazy how this started as an arguement over semantics, a clear attempt to bury an effort at quality content and discussion.
Gitreal, I have been kind in the face of your insinuation and adversity and I have done my best to entertain your concerns with honesty and appropriate discourse. I only ask that you do the same, and suspend disbelief a bit to the companies claims despite your traumatic experiences with OTC mining stocks, and give a legitimate company the benefit of the doubt. Your criticism can and may as well be constructive if your aim is truly to use your platform here to do some good in this world.
I actually agree with most things you said in this post.
Though, I personally wouldn't call them shady per se... Just a little less concerned than it is assumed one should be in such a sector who's reputation as a whole has been damaged beyond recognition by bad business. They clearly aren't as traumatized as you are for having experienced the sheer number of PGM related pump and dumps in this space as you must have. Perhaps its because they know the truth is on their side, and have no experience to rely on when it comes to defrauding people.
Also, PGM's are not included in any "narrative they have been selling for years". It has only been this year that they have decided to investigate PGM and REE content (which will inevitably include fire assay) after shining an XRF gun at the stockpiles' concentrated material. This is a completely new phenomenon, surprising no doubt after over 100 years of knowledge collected about these claims, and since they need to measure the contents of each batch by the end of the year, as they have commitments to sell, we should expect this issue will be put to bed or confirmed without a doubt relatively quickly.
Of course they are doing assays.
I agree that they should and they should double down on lab measurements before releasing guesswork. They have done many so far and will continue to do them at Florin Analytical labs and multiple others as part of testing, improving their separation processes, and to certify the values in the concentrates being sold. Why wouldn't they do that? They're going to have to. This particular matter, however, concerns the historical stockpiles. It is not clear what or if they are hypothesizing about the Lucky Ben in most recent communications.
Good job in catching my mistake! When I said Bushveld, I meant the Stillwater igneous complex in Montana 🫤 both owned by Sibanye Stillwater. Excuse that one.
Mr. Gitreal......ask SDRC management why we are talking about Platinum Group Metals, not me. The fuck do I know, but they are. What's clear from their communications is that they have chosen to build upon the apparent value of the gold they know they have by exhausting the rest of the noble metals present in the concentrates. Since they are not committing to refining at this stage, and seem sure the values of any PGM's or other valuable metals present will be honored by their buyers, its at little cost to them besides time.
I, more than anybody have taken the whole proposition (of PGM's) with a grain of salt and am fully aware of how premature such assumptions are. I await confirmation or dis-confirmation of any of these via the certificates of analysis along with everyone else paying attention. I too am painfully aware of how rare primary and even secondary PGM production is in USA, let alone Idaho, although to their credit, the famous Bushveld Complex is not that far away in Montana. Its arguable that the rarity alone justifies exhaustion of its presence in their ore, as any domestic PGM production will be valuable given its market dominated by problematic Russia and South Africa. Aside its for rareness as an economic resource, the costs to separate and refine are complicated and prohibitive especially under time constraints such as the deadline to q4, but nevertheless, SDRC has surely weighed such pros and cons in their decision to investigate. I look forward to it being put to bed either way. SDRC is developing a process they can commit to over the long term and so they are exhausting these things now, before significant investment is made in a facility. That’s it. There's one thing they know for certain tho, they got gold, and a lot of it.
My earlier calculations are hypothetical as to help infer the value of the stockpile if the tertiary material they are concentrating is found to be comparable in value to gold. We all know this is pending steep due diligence on their part, and because it is, it is probably pointless to you.
Besides what the company has said about XRF readings, and lab analyses that have yet to be made conclusive, the fuck do I know man. You're acting as if I'm am the source of this information. I'm merely a shareholder who gets his information like everybody else. I pay attention merely because of my vested interest in this stock. It's clear you assume I'm some member of management, or an IR guy, which is absurd.
I said all I have said at the expense of spoon-feeding you research you should be doing yourself. Go ahead and read the history of @seanraezalewski's tweets on twitter. Look at the company's Youtube channel specifically a video labeled "Gold & PGMs under the Microscope!" You will learn quickly that the level of certainty about PGM's at this stage is not high and nobody has any shame or much else to lose in trying to exhaust measuring it. Promoting it as a sure thing surely is borderline irresponsible fiduciarily speaking, but it’s a weak argument at best to assume that's what they're doing. Investors, however, seem to enjoy the disclosure of what the company is thinking at this stage however conjectural their hypotheses are - especially if we are already explicitly told the degree to which such is based on inference and conjecture. There's no shame in this kind of transparency.
Lab analysis of samples from the batches to be sold in first offtake agreements will confirm or disconfirm the other valuable minerals present besides gold, and the sales agreements will show the amount and value. They are using multiple accredited labs to necessarily certify each batch and already have buyers willing to purchase and honor the value of any PGM's present in whats sold to them. The Certs of analysis should be enough because they aren't measuring an in-ground resource. They are selling concentrates from ores already mined. Whatever they expect those speckly-white noble metals are that are visible in the concentrates, and indicated via XRF analysis, they will confirm with lab results and everyone will have their proof. If that's not enough, you will see it on filings and on the company's balance sheet q4. If that's not enough, dividends and heavy dividend reinvestment forced at ask. If that's not enough, then we might want to consider pissing up a rope.
It's plainly seen that SDRC is including Gold, Silver, and Platinum Group Metals under the heading of Precious Metals in their most recent communications.
Revenues from sales will come before a measured reserve - as if it hasn't been said many times over already. All projections are based on inferred estimations of grade informed by lab produced certificates of analysis of concentrated samples. SDRC will convert their product to cash and issue a dividend before our ihub buddies cease grasping at straws for indications of farce.
As of most recent information, the calculations are as thus:
Stockpile Material Processed Per Day:
2.5 tons (2,500 kg)
Precious Metal Yield per Day:
3,540 grams or 125 ounces of precious metals
(confusion remains on whether this meant troy ounces (31.1g per unit not 28.4g) or 3,887.9375 grams, but for consistency's sake lets continue with the mentioned 125 ounces)
Stockpile Size:
25,000 tons
Total Precious Metals in Stockpile
25,000 tons × 1,000 kg/ton = 25,000,000 kg
Therefore, total yield = 1.416 grams/kg × 25,000,000 kg = 35,400,000 grams
Converting to Troy ounces: 35,400,000 grams ÷ 31.1035 grams/Troy ounce = 1,138,106 Troy ounces
Precious metals. 125 oz per day of processed product.
Listed in hashtags and clarified below.
#GOLD #PGM #REE #PLATINUM #SILVER
Sean-Rae Zalewski
@SeanRaeZalewski
There seems to be some confusion. The presence of PGM in $SDRC ‘s ore is a definite boon.
The offtake agreements that we are discussing and working on with the groups that will be the buyers recognize the PGM’s, and that will be part of the offtake agreement.
An independent geologist said “He said if the XRF data on the ore is correct, the ore could be worth $45K a ton with the gold, silver, platinum and iridium the XRF indicate are present in the raw ore”
This quote is directly from COO Dan Hally in a email to me.
#gold #PGM #silver #win #invest #goldmining
Sean-Rae Zalewski
@SeanRaeZalewski
As an update. Partial transcript of a review meeting with @wfmining & @SDRCMINING
$SDRC #GOLD #PGM #REE #PLATINUM #SILVER
25:09 - Conference Room (Matthew Dailey) - Speaker 1
Two and a half tons of material out of the stockpile is generating 3,540 grams of metal.
25:23 - Sean Zalewski
I'm sorry, what was the number, 3,400 and what? Grams of metal. And we know what it is, but that's what we're producing. What was that grams again? 3540.
25:41 - Conference Room (Matthew Dailey) - Speaker 1
Yeah, so out of the feed of the 25,000 stockpile generates 3540 grams of metal. That's 125 ounces {of precious metals}. That's what we're doing consistently {producing} in a day. Day in and day out
125 T-oz of precious metals processed per day!
Sean the CEO is dropping some wacky stuff on twitter today:
From our CEO Sean-Rae Zalewski : Partial transcript of a review meeting with Western Frontier Exploration & Mining & Sidney Resources Corp. OTCMKTS - SDRC #GOLD #PGM #REE #PLATINUM #SILVER
25:09 - Conference Room (Matthew Dailey) - Speaker 1
Two and a half tons of material out of the stockpile is generating 3,540 grams of metal.
25:23 - Sean Zalewski
I'm sorry, what was the number, 3,400 and what? Grams of metal. And we know what it is, but that's what we're producing. What was that grams again? 3540.
25:41 - Conference Room (Matthew Dailey) - Speaker 1
Yeah, so out of the feed of the 25,000 stockpile generates 3540 grams of metal. That's 125 ounces {of precious metals}. That's what we're doing consistently {producing} in a day. Day in and day out.
SDRC will show revenues before establishing reserves.
The industry standards for proving mineral reserves is a lengthy, arduous, and expensive process involving a thorough enough intersection of their in-ground resource via drills, and necessitating the hiring of accredited expertise to study, and compile the technical reporting according to strict spec. SDRC is not willing to undergo such a process without the cash on hand to do so and doesn’t see it as a priority justifying the cost (especially at this precarious pre-revenues stage.) SDRC has halted exploration in preference for a hail-mary pursuit of revenues, enabled by the discovery of high-grade historical stockpiles already mined and ready to process.
This is very much IMO the main reason that will make SDRC unique, unconventional, and a leader when successful. They are doing it backwards unlike what most companies in their position do (ie: to finance development with production as opposed to debt and unfavorable equity/royalty deals.)
I mean, for all we know, SDRC may decide to move into production and continue on producing to mine depletion without ever establishing reserves as industry standards mandate. The question then is, Why waste millions on proving something via exploration that they could do just as well by mining, processing, and selling?
The fact that SDRC can even think about building a producing mining operation without a bankable reserve is out of this world and impossible for most.
Most can’t because the norm in this industry is that managements take too much money for themselves, and don’t use money efficiently, and so getting anything done is a huge uphill battle to finance (and so proving a resource becomes a priority... and then years of feasibility studies... then once they they're done with that they need to finance construction... all while marketing to keep investors interested....). Most run out of money many times over before they see an ounce of gold out of the ground. They turn to dilution and other toxic deals which cause irreparable harm long before production even happens. This is sadly the norm which is why most mining "investors" are actually just traders of the "Lassonde Curve."
To do what SDRC is doing, most mining investors would think is either crazy or unbelievable.
Knowing what we know, that they are indeed legit, and they actually have been running this stock cheaply and efficiently, while also securing the finances to do so outside of the predatory mining norm, is our opportunity.
If revenues are anything like projected, it will be a magical moment. ….and a moment of truth for many watching on sidelines I imagine. The mining industry has been broken since the 1980’s, and its time that it is shaken up for a new generation.
a man with 15 years of posts on ihub BYRG board is advising me about the value of time spent posting here
Response to Slojab's Questions - I
"Betting on anything actually happening as expected in the OTC is being naive."
Its safe to assume that your investment style (or lack thereof) is statistics based. You, along with the money managers, market makers, and institutions that deal in OTC share this policy driven approach and have tended to be right statistically speaking. I imagine you have been burned by a stock selling scam or two in the past and are bitter. You have taken to the “misery loves company” principle and become a frequenter of Ihub amongst many who share this sentiment. Perhaps you see yourself as a “Good Samitaritan,” or a “Batman” if you will, out to benefit those less endowed than yourself. Perhaps you may think that people who speak the benefit of the doubt of any OTC stock are “promoter scum,” and the victims of whom are soliciting your protection. People develop habits in this space based on prior successes or failures... Its easy to bet that a stock is shit because its on OTC Pinks because that's what most people do, and most money in this space is net short to reflect that. You're most people as most people don't invest in OTC. We should assume anyone speaking of stocks are speaking from a vested interest of some sort... but you must be different? (Full disclosure: I own shares.)
The OTC itself is on a path of change. It is slowly becoming fertile ground for legitimate businesses in pursuit of capital, without the burden of SEC auditing and other compliance expenses. A trend of crackdowns, rule changes, and enforcement practices support a future where legitimacy can exist and become investible on OTC. Reporting standards have improved in recent years and OTC Markets has become more proactive in enforcing disclosure rules. Bringing a business into the public space is still relatively easy on the OTC and makes sense for many startups - barring the automatic negative attention from the broader investment community who think companies this small shouldn’t be publically traded. It is becoming a trickier proposition to orchestrate a pump and dump stock selling scam in the time-frames that were possible in the past and investors are becoming wiser in seeking those more resilient and in line with emerging trends.
"expectations dashed for 17 years now" "Why expect anything different?"
Your attempt to establish thought-leadership concerning Dave Bryant and BYRG after posting on this Ihub board for 15+ years is formidable, but you don't seem to take into account the changes that are happening fast enough – in OTC in general and in this stock.
BYRG is definitely on the path of positive change, and the corporate and share-structure cleanup has been a prominent theme. Successes on this front cannot be ignored. Dave Bryant is deferring to a team of individuals who are interested in legitimate development of the mining asset under a clean stock. Its easy to accept that this is more rewarding in every way, for everybody, than orchestrating a scam. Investors are buying in for long term.
BYRG is working against the grain by being an OTC stock, sure, but also within the mining sector for being a historical mine site resurrection play and also a platinum exploration play. Metallurgy will be exceedingly complicated, and comparable successes of this kind of endeavor are as hard to find as the deposits themselves. Investors know this and are buying in anyway. As the company works to eliminate risks on corporate side, mining side, and stock side, such confirmation of expectations will make space for even more investment. As the macro-thesis is confirmed (as in the domestic need for critical minerals) there's no limit to the kinds of attention a stock like this can get. The optionality awarded by demand on commodity side can transform and perhaps overwhelm stocks like this if investors believe the commodity bull run game has already been won. Its very possible a buyout offer can come even before metallurgy becomes a concern.
"BYRG is a crap shoot"
I have no denials that uncertainties exist. I have no denials in that we are dealing in the OTC pinks, with some of the relatively lowest standards for disclosure and accountability in the capital markets … and I have no denials that this is speculation. It should be well known that OTC stocks have some of the lowest chances of success, and speculators in this space should only engage stocks where they have reason to believe that the chance and scope of possible rewards not only justify the risks but are good enough for their own risk tolerance. There are enough people that fall in this category to support the market-cap and that will grow or shrink as we have seen.
I personally believe that, yes, there are risks at every level and a great deal of this proposition is indeed a "crapshoot" at such an early stage, but I have done thorough enough due diligence on the property and its history to be personally interested in this project, and I do agree with the new direction the management style is going. The company must eliminate risks in order to widen its audience and that is exactly what BYRG is doing. If I bet on a mining stock, I sure as hell want my risks to be mining related. If they are found not to be, the corporate team will get to work on it, and they will be eventually - the company is indeed legitimate in this sense. My hopes are that my assumption of an economic resource becomes confirmed. If the value proposition of this stock is a "crapshoot,"as you say, and by principle, managements are necessarily more clever than ones own ability or willingness to conduct proper DD... I believe those behind it are giving it the best shot they can give to prolong and preserve the bid for what its worth until the mining side confirms or disconfirms assumptions. After so many years, Bryant is finally receiving the help he needs, and the group behind this stock has embraced a philosophy: the path of legitimacy is a way more rewarding and enriching one than the messes saturating OTC's and BYRG's past.
I'm here. I'm not betting the farm, but I'm here, and I believe there’s considerable upside potential especially given the undeniable progress made since the price was much higher.
A large portion of the market-cap comes from the speculation bid: Future expectations. There IS a market for this kind of stuff, believe it or not.
Investors are betting that the prospect of a salable mineral commodity is legitimate, on meeting or exceeding expectations concerning the development of the company's assets, and sound management thereof. Price has not reflected successes so far compared to when price was over 1 penny per share, so investors are baking into their expectations for price these prior successes as well as future ones.
Also contributing to the speculation bid is the now established trend of share-structure cleanup and the addition of relevant expertise and stakeholder-ship to the corporate side. Corporate issues acted as deterrents to mining speculation money which is otherwise now in play. Other areas of interest and differentiation come from historical documentation, prior sampling efforts, successful cleanup and acquisition of assets, and positivity regarding those involved in management and their dedication to a certain way of doing things cheaply and effectively.
In the coming years, value will be confirmed or dis-confirmed by mineral estimates, exploration, reserves, feasibility reports, production, or perhaps even buyout bids from producer companies. At any point, expectations can change in place of new ones based on new information and the ongoing process of turning uncertainties into certainties.
BYRG Opinion Piece
The Corporate Side:
Given recent developments, it is clearly evident that there is an effort to clean up the share structure and augment the corporate side and corporate team with relevant expertise and stakeholder-ship. There is an intent to save the share structure from any further unnecessary growth, while it simultaneously shrinks due to the ongoing effort to reclaim shares that lawfully should be back in treasury. Importantly, they got rid of that bad actor Tristan Stonger M.D. (convicted felon, services never rendered) and cancelled his shares - those very shares that were necessary to dilute out to bypass the OTC 10% rule upon becoming pink current in 2021.
I think a big takeaway from recent developments is that billions of shares of prior dilution will be returned to the company over time in some form or another. Whether its for cash / private placements, to pay for services, for acquisitions, or perhaps more will just be cancelled outright as there's nothing stopping them from doing so. Any left remain restricted and in Bryant's name, available for the company's use. For private placements, the process seems to be: cash comes in, he issues shares with a 2-year restricted legend, and then cancels the same amount from his lot. We are to expect no dilution as $ millions in new stakeholder cash, perhaps new board-members, will come in and put their names behind this company. I wouldn't rule out new money now in play that was otherwise sidelined due to the eye-sores on filings that have now been cleaned up. I’d say the corporate side is on a good path.
The Mining side:
Mining season is upon us and data collection continues. Groundhog Mining and Milling has begun the permitting application process for improving the portals and access for exploration. Board Member and Geologist Justin Mistikawy is on full time with interns from University of Wyoming on site as we speak... and we also have USGS and WYGS's ongoing airborne reconnaissance which will further inform exploration. We are awaiting catalysts such as permitting results, further sampling data, and first drills at the historical New Rambler mining district in over 100 years.
If the process of turning uncertainties into certainties continues to manifest in a way that confirms higher expectations of value as opposed to lower, I'd say we are on more solid footing than ever, and the market will have more of an appetite for these catalysts. The prospect of a mine-able platinum deposit in USA is so rare that the market will figure it is worth the risk to pursue figuring out. This is still an early stage mining stock and it's still speculation, but now that the mess on the corporate side is becoming cleared up, it is beginning to become all about the resource now, the quest to establish reserves, a metallurgical strategy, and figure out if its economic to mine.
I believe that the recent elimination of deterrents on corporate side will only help the markets appetite for developments on the mining side. Mining risk is daunting enough, but there is indeed a market for it given the macro picture… its the wait to eliminate the other risks that have been the deterrent here, upon which the company have made some serious progress, in turn opening doors to mining investment.
Stock / Trading Side:
I don't claim to understand the whole BNY Mellon issue, nor will I attempt to try to explain it here, but in the grand scheme of things, the light at the end of the tunnel is now visible as far as the effort to reclaim rogue portions of the share structure. This successful trend in itself should embolden management to dedicate even more time, energy, and resources to engage BNY Mellon... and its likely successful resolution will embolden investors to the opportunity disproportionate but temporary sell side liquidity represents.
Accumulation continues by those who are confident in the people behind this stock and the liquidity made available to them by the bad actor BNY is and should be treated as a blessing in disguise.
It is indeed interesting especially as it was Bryant’s reasoning for a 6 billion share increase to dilute out Stonger enough to omit him from the OTC background check rule upon becoming current in 2021… if they are suing Stonger to get those shares back, and they do get them back, that’s about 7 billion shares that have no reason existing outside treasury. Cancelling all those shares will be a major moment of truth as this company simultaneously upstarts an ambitious mining revival type business.
Oh look, XTPT hired an accredited Geologist, QP.
https://www.accesswire.com/860791/xtra-energy-corp-engages-avrom-howard-msc-pgeo-to-conduct-a-ni-43-101-technical-report-on-the-american-antimony-project-near-eastgate-nevada
https://www.linkedin.com/in/avrom-e-howard-a9951262/
Is an NI 43-101 exchange-compliant technical report in XTPT's future? Is this stock planning a future dual list on a Canadian exchange? Even though I know some heavy hitters in this stocks consultancy structure that probably wouldn't like to see that happen, I would certainly like to. I think there's a lot of potential to consider in bringing Canadian money and awareness to the potential of unsung-but-legit OTC mining stocks by doing something like that - despite the higher and more costly barrier of entry. Do it for the sake of science at the very least. There's pros and cons to consider clearly, (for one being USOTC's reputation...) , but if it works and makes you and your companies money, why not?
At the very least, a technical report of this accreditation will appeal to a wider range of investors, institutions, and nurture the stocks buyout candidacy by appealing to a wider more risk averse audience.