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ALL SEASONS OPERATIONS
WILF WILLING TO WORK FOR WAGES AND SHARES.
WELL DONE HALE HE HAS WALKED THE WALK.
NOW A MAN WITH VISION WHO LISTENS TO ADVISORS AND MAKES DECISIONS.
Dredgemaster
The wind and rain has started so I hope Mr Hale took his umbrella. lol.
Dredgemaster
I have three sites that I will take a punt for diamonds and the others will be for gold, I dont dig pits any deeper than 4 meters and want a good depth of gravel as I find higher yields of free gold. Had results of 2.5g/t of cubic meter of earth moved which is 10g/t of gravel.
If I have evething set up then there are terracing sites which will let me mine all year.
Dredgemaster
Hi risk, as always good to hear from you.
Lobster at these prices you have to eat every day lol.
I am in set up mode and have shipped transport to SL, sold some and will keep two 4x4 vehicles. My truck will arive in the next two weeks.
Been doing support mining along Sewa from Bo through Bumpe to Mopende down to Zimmi and accross the river and up to Sumbuya. Re establishing relationships. The plan is to have everything in place to start several small projects in December as I believe the spider principle works good (if I get one leg cut off I still have seven more working). The rivers are at the lowest I have seen them for years locals say it is due to the hammittan winds which lasted longer than usual,and have had good results in several locations.
GLTY.
Dredgemaster
Sney have gone into support mining mode if what you say is correct.
The normal deal is to split the gold 50/50 and agree a price in advance to buy the other partys gold. If Sney supply the dredges then they should get the bigger slice of the cake and I supose the black sands concentrate is that? After all the other people are only
providing labour.
I passed Magburaka on Monday as I was up line in Kono but heard nothing of Sney.
I enjoying a well earned beer in the Atlantic bar and then off to get a nice Lobster. Hope that helps.
GLTA
Dredgemaster
Hi Fangster, you are spot on. Sney only need to take out a MINING licence on one acre of the EPL, but will have to renew the whole Exploration Licence or maybe cut down the size to the most productive area.
Sney will also be registered in SL and as such and having Mr Tayib will lower the costs.
GLYU
Dredgemaster
I would not mind having 5 cube of Gold, LOL.
Dredgemaster
They have lots of black sands concentrates.
The sale of 27.5 tons is probablly down to several factors. Transportation, The weight a shipping container can take, the weight a truck can carry on bad roads up to main road, As a sample, Would you want to give all your concentrate to a company that is going to pay you on ITS RESULTS? This must be a TEST SHIPMENT, IMHO.
Sney have already had the sands tested and have a good idea of value.
I think PR stated they were expecting to exceed the 40tons per month that they already had in containers. Mr Hale talks of 800/1000 tons a month. Thats a lot of beer tickets.
Dredgemaster
Dry sand per cube weighs about 1.7 ton..
Now a cube of black sands concentrates with All the heavy minerals in it will weigh at least 5 ton and at most probably 7 ton. Remember you have, GOLD, IRON, PLATNIUM, ETC, ETC.
The minerals you are dredging for and recovering if looking for gold will have a density of at least 7 if useing gravity seperation systemas the light stuff is washed away.
Hope that helps.
Dredgemaster.
One cubic yard of sand weighs far more than a ton, believe me.
And no to the second, he has to put bread on the table so he will be working hard as he always has.
Dredgemaster
Ever seen a ton of building sand? Well imagine it has gold, platinum, pyrite, etc, etc, mixed in it and that will give you some IDEA.
Dredgemastet
27.5 ton of black sands concentrate will take up about 5 cubic meters of space and could be less depending on heavy mineral content.
Dredgemaster.
BEMBEL, WE ARE ON THE SAME WAVELENTH.
From personal experience I know that the concession has more than an average of 9g/t.
On another note, The cost of fuel here is le22500 per gal. Because of fuel shortage it is le50000.
WILL BE A SHORTER SEASON FOR THOSE WHO ARE MINING AND A COSTLY ONE.
Wonder if Mr Hale has funds to get him to Magburaka or will he be going on a puda puda.
Dredgemaster
Thanks BEMBEL, but it still means that the numbers from PRs and this report dont tally.
GLTU
Dredgemaster
I think that they are probably employed by the SL registered company on a seasonal bassis and come under SL Employment Law. IMHO.
Dredgemaster.
Its the 14g/t in REEs, concentrates that does not tally.
If that is 80% of the free gold contained in 10000kg of raw feed then the amount of Free Gold drops dramaticaly.
If I am wrong or not reading correctly then please help.
Dredgemaster
The numbers dont tally.
5g/t of free gold per ton of RAW feed with 80% of remaining Fine Gold in concentrate = 9g/t TOTALGOLD per 1 ton of RAW feed.
How many tons of RAW feed = 1 ton concentrate black sand REEs?
Each ton of RAW feed should have 4g/t of FINE GOLD.
IMHO Sney has seriously undervalued the amount of Fine Gold in Concentrates, OR?
Now my understanding from PRs was 100kg average black sands concentrates per ton of Raw Feed?
1000kg of concentrate = 10000kg of RAW feed = 40g/t of fine gold remaining in the REEs Black Sands Concentrate.
HELP, MAYBE THE HEAT HERE IS GETTING TO ME.
Dredgemaster
No NEW news here. Lots of history that most of us already know.
Words, words, words.
Need some specific actions as promised.
FWIW, there is an extreem fuel shortage here in SL but I guess it wont bother Sney much.
Dredgeemaster
The cost of recovery has so many variables.g/t of raw material.
Aluvial, hard rock, open pit, underground, etc.
The INITIAL COST is actualy a LOSS. Expl cost.
Inflation in the country you are mining.
South Africa used to produce 75% of the worlds gold. What happened there.
Dredgemaster
Mikey, you are a man of vision based on your knowledge and history of gold and currency rates. RESPECT. The price of gold being high, allowed mining for deposits with low g/t and a high cost of recovery. THAT HAS CHANGED AND WILL CONTINUE TO CHANGE.
IMHO unless you have at least 10g/t gold that is recoverable NOW, and a concession that has reserves to allow you to do at least that over the next ten years or a great processing plant that costs nothing to operate then a latteral move into the recreational business is the order of the day.
Sneys hour glass is draining at a pace that is far too fast.
I truly believe in the concession and know what the potential is.
I hope Sney do also.
I continue to learn from you and thank you.
Dredgemaster
Hi mikey, I am trying to be objective here.
If you are investing in a gold mining or exploration company then.
The gold price is only one of several things to be considered.
The cost of recovery is IMHO the most important along side the price.
Does not matter how much gold is in the concession if you cant get it recovered and processed at a profit. The days of saying we have thousands of oz in the ground or g/t of gravel recovered will soon be gone as untill concessions are proven up investment will virtualy be non existant. This will be hard on small mining conpanies like Sney.
Dredgemaster
I think Mr Hale has set his own challenge.
He has blown his own trumpet in his PR.
Its about time we see what tune comes out of it.
GLYU
Dredgemaster
Great, DD bali, confirmation of what I haave been saying for a long time. Where exactly is Sneys concession? TONKOLILI ?
GLYU
Drrdgemaster
Thanks cK I think that is why the Chinese, Japanese and several others have the jump on us in Africa. They were hit with low interest rates before the west and had the insight to invest.
Most western mining companies now seem to have Eastern partners and large investors.
With large investors, Financials must be easier, and it seems profit and loss does not affect the the market price and manipulation is the key along with iminagitive accounting.
I think that some people have forgoten that Sney is a Small Exploration Company and not a Major Mining Company, yet.
Sadly it seems that people make mining companies where mining companies should make people, I am talking about integrety.
AIMHO.
GLTY
Dredgemaster
once again I have shown my ignorance of stocks.
I confuse stocks with ACTUAL MINING BUSINESS.
How can Sney, with actual and predicted RESERVES, of Gold and Black Sands on thier concession be different from a company like African Minerals who started actual mining but are making great losses. The Chinese bailed them out and invested heavily knowing that the product is in the ground and they have only just recently started shipping product.
Sney have also shipped thier first product consignment.
The price of gold and value against the $ means everything to a independant like me as it will dictate my mining budget for as I recover I will sell and reinvest in more fuel etc.
Gold, linked to $ linked to Currency Exchange Rate can mean the difference of lossing 25% of your budget as happened to me in 2005 when the £ went from $2 to $1.5 and the price of gold started to skyrocket.
Dredgemaster
Nothing, What shareholders $s can buy in SL with things like fuel, food, accomodation, parts, labor etc, etc. probably means nothing. In otherwords Sney will be paying more for less in SL with prices higher in SL and a weak $. Currency Exchange Rate, and the Gold price, and the strength of the $ have nothing to do with mining.
Dredgemaster
Thanks handy, nice charts. Tells a story that is stranger than fiction.
Dredgemaster
Hi folks, been catching up on some posts.
Perhaps the question could be!
What is the value in real terms of $/£ now compared to 5 years ago versus the value in real terms of gold over the same period?
Do you wish you had filled your mattress with $ or gold ?
I just wish I had kept all the black sands that I put back in the river.
As for future predictions all I can say is the way India is hungry for gold it would not surprise me if it climes over the next 2 years imo.
Now, having said that, with gold at todays prices it never ceases to amaze me that it was profitable to mine for gold when it was $350 an oz. So, what do we think has changed if anything?
GLTA
Dredgemaster
Fuel alone would be $5000 a WEEK for that kind of opporation involving D8s, 360s, Pumps and transport etc:.
It would have to be done in a specific timeframe as the window of opportunity is from December until May and you may have to ramp up the amount of pumps if rain comes early.
Banking a river is IMHO not the way forward for Sney at this time unless the have done exceptional DD over the past year or have started now in prep for December...
Yes you stockpile the No 5 sands and gravel for the whole period and wash when the rainy season starts.
You would then wash for Gold, Diamonds and retain the blacksands concentrate for sale so no wasted byproduct.
Was This A Test?
Dredgemaster
Sir, I work to a budget.
An investors imput does NOT reduce MY risk.
It increases the chance of sucess and increases the budget and size of opporations.
I have always stated I dont know much about stocks.
However I do know the true value of a $ to those who have worked hard for it.
I think you need to understand the difference between Exploration and Production and the costs involved as well as the risks.
Dredgemaster
You are welcome.
I have been PMd by most people on tjis board at one time or another and answered thier questions about Sney on an open post without revealing thier ID as I am sure. The reason is that the info may be of use to others. I have never had any hidden agenda about Sney.
In order to make decisions you need to cross reference DD with Opinons and Facts and the more info you have to analyse then the better your decision should be INTELL 101.
GLTU
Dredgemaster
IMHO I do not know, but Sney must get a mining licence to be able to produce the 800/1000 tons a month that CEO states in PR. The geo history of the concession shows vast amounts of black sands. Major Mining Companies are to the North and West of the concession so who knows. I just wish they had talked to the Chinese when I sugested it a long long time ago.
I always remember what a very good business man said. "There is nothing wrong with a small slice of the pie as long as it is a very very big pie"
Dredgemaster
Best post for a long time on this board and a very logical post.
GLTU
Dredgemastet
I do not have PM, and as I have nothing to hide then I prefer an open post.
It would be rude of me not to reply to All posts as people have taken the trouble to ask me.
Yes I state to PM, but my answer is there for All to see. The person who sent the PM therefore has thier ID intact.
I think the new CEOs PR was clear and that the mining licence and expl licence will go together and I believe it has been forced on them by GoSL as they have SOLD product and therefore did not send it as a bulksample. So if they have been in production then they are MINING.
We await to see if this new CEO walks the walk.
GLYU
Dredgemaster
It was another poster who said Wilf was in Congo, Wilfs background is The Congo and I met him there over ten years ago. His experience and contacts will see him through.
Still to much conflict for the companyI was with for them to return yet. You need some people with PMC experience to work there now.= loadsof money.
Dredgemaster
To PM, I am only going on what was said by CEO in PR. How can I be certain about another persons statements.
Dredgemaster.
ps past my bedtime here, goodnight.
Dredgemaster
To PM, NO, have not heard anything from that source.
Dredgemaster
Hi cK, yes going to have a go on Sewa and do some support mining.
Cant let Sney have it all.
Brought my vehicles in through Guinea Conakry and saved lots of money in taxes.
Will spend some time here building my own plant. Utilisation of Internal Rrsources.
Cheap and cheerful set up and have some fun again.
Still a few years left in this old dog.
Congo is out at this time and hope Wilf is OK there.
GLYU
Dredgemaster
Bali, as I say it is Easter here, nothing much will happen at ministry for a couple of weeks, kids off school, people on holiday and its Africa Time. If Sney is in a hurry then time is money and the paperwork will move up the pile acordingly.
There are options to getting the licence as I see it, if they use the SL registered company and an SL applicant who is under the umbrella of Sney then the costs could be considerably less, just depends on how much savvy they hqve.
I will not be going to ministry untill I have LoI from Chiefs and Local Mining Group.
I am starting to put things together so as to have a punt starting December.
GLYU
Dredgemaster
Hi Jim, I believe all the information I have given you has come true?
No need to go into PMs.
If the new CEO does what he says then I think Sney will be one of the few companies with a mining licence in SL, yes lots of them have EXPL but few have MINING.
The correct processing plant for the materials and this has great possibilites.
As you know its the bottom line that matters. ie, the cost per oz of getting it out the ground and to market. If this new CEO is as good an implimentor as he is a facilitator then you will make the right decision. Glad I was of help in the past.
GLYU
Dredgemaster