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DNI Metals, DNI.CA or DMNKF Moving nice on news! All the non believers out there should have believed here. DNI is on its way to being one of only 5 publicly traded Graphite producer in the world.
latest press release from DNI Metals: [url]https://provenandprobable.com/dni-metals-provides-update-on-environmental-licenses-for-its-100-owned-vohitsara-and-marafody-graphite-projects-in-madagascar/
[/url][tag]insert-text-here[/tag]
The significance here is that DNI basically approved by contract for their final Env licence to produce, but waiting for the licence to be delivered.
With the full PE licence, DNI IS a direct comparison to Bass Metals that is trading near $80 Million in MC or about 10 times that of DNI'S MARKET CAP. Bass just built 6000TPY plant or the same size as DNI's proposed plant.
People going to have a hard time believing this one, but once they get the final Env licence, the cost for the processing center and remaining infrastructure and all will be about $2.5 Milllion. They are short on cash and will need to do a raise. Plans already drawn by engineering company, quoted by Chinese company- can be built and containerized it in about 60 days with another 30 days for shipping.
Design will be modular design that will be upgraded SOON to be able to process the bumped up demand from the Korean Offtake agreement that is finalized and binding.
Checkmate28
Randal Good Catch. Not my intention to be confusing but I sometimes confuse the names of the permits licences ect.
Let me rephrase
The way I understand it is that DNI has always had the PE permit since they bought the property. To get the final approval to produce and sell graphite in Madagascar, you need the support of the locals, plus gov sign off for the CSR Corporate Social Responsibility and the sign off for the Environmental Licence. DNI has always stated these conditions as needed to produce. If you know differently, let us know.
Its the final signoff on the Environmental Licence that we are hoping for here, otherwise we have to just wait while the grass grows and watch you argue with the rest of the posters at Stockhouse.
BTW contrary to what you have been boasting on SH, you have spoken many untruths and many have been pointed out on the boards. Its just very easy for you to justify your position with words that you call truth. I think you could reason your way out of anything in your own mind and it would sound good even to us. That doesnt make it truth.
Now I have no time or desire to go back through it all, but your welcome to have a look. It all centers around your commitment to manage the program and drill 3000 meters plus a PEA in 90 days for the earn in, and your excuses as to why you only drilled 1700 meters with no PEA in 270 days including gracious extensions, all while you insisted you only needed one employee to run the whole show. I cant believe your running another company but have so much free time to chat on another companys boards. What good could it do you.
Checkmate28
GORO Gold Resource Corporation Commences Isabella Pearl Gold Project Construction, Mineral County, Nevada
COLORADO SPRINGS, June 19, 2018 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced it has begun constructing its Isabella Pearl open pit heap leach gold project (Project) located in Mineral County, Nevada. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $111 million to shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Construction activities officially began on Monday, June 18, 2018, with Ledcor Group commencing clearing and grubbing operations in preparation of heap leach pad construction. Processing equipment including the crushing plant and radial stackers, previously purchased and being stored in a nearby laydown yard, are being readied for transport to the Project site. One of two previously drilled water wells have had its pump set and completed for on-site water supply.
“Mine construction commencement at the Isabella Pearl Project marks a very exciting time for Gold Resource Corporation and its shareholders,” stated Jason Reid, CEO and President of Gold Resource Corporation. “We target first gold production from Isabella Pearl in less than 12 months from today. This Project is an important driver of Gold Resource Corporation’s growth profile, which includes targeting a more than 100% increase to our annual gold production from Isabella Pearl’s first full year of commercial production.”
About the Isabella Pearl Gold Project
The Isabella Pearl Gold Project is the Company’s flagship property in its Nevada Mining Unit, which also contains the Mina Gold, County Line, Gold Mesa and East Camp Douglas properties. The Project is located in south-central Nevada’s Walker Lane Mineral Belt in Mineral County, Nevada. Proven and probable reserves at Isabella Pearl total 192,600 gold ounces with targeted recovery of 153,000 gold ounces after dilution and recovery estimates over a current four-year mine life. Annual gold production estimates 29,000 ounces year one, 41,000 ounces years two and three, and 42,000 ounces year four.
An average cash cost of $650 per ounce (plus or minus 10%) is estimated over the initial four-year mine life with annual costs projected to decline year-over-year as higher grades are mined and strip ratios decrease. The Company anticipates adding to the Project’s reserves with future exploration drilling. It has identified two new exploration targets within the existing permitted mine plan, Scarlet and Civit Cat North, along with numerous exploration targets outside of the mine plan along its claims covering over six miles of structural trend to the north-west. This important structural trend was home to four historic open pits within 14 miles to the south-east that produced approximately 300,000 gold ounces at the historic Santa Fe open pit alone. The Company’s exploration team believes, in addition to the four historic open pits and the Isabella Pearl deposit all along trend, the Company has locked up exciting prospective ground to potentially add additional open pits and longevity to Company operations.
Did you catch Gold Resources GORO?
I posted all through 2017 that 2018 would be the year for GORO.
UP 60% since February this year.
Up nearly 100% since August 2017.
About 2 million shares traded today many after hours. Price surged to $6.66
Volume Represents about 4% of the float and whoever bought those shares paid a lot of money and premium.
Your buddy Otto have any insight on this?
Somebody making a run?
Fund buying in?
Somebody with Deep Pockets found some value?
At any rate this was Heavy buying. It has to continue on Monday.
My $8 might come sooner than I think.
It's been a screaming good buy considering the bump in revenues and cash flow coming by end of year.
The new Nevada operation Isabel Pearl has hit the road running. Final environmental license plus 10 million dollars worth of CAPEX already spent, puts long lead-time equipment ready to go on concrete pads and only 20 million dollars of capex remains. Last posted they had $29 million in the treasury and growing.
New screaming profitable project bought and paid for with cash, will bump GORO revenue 70% in short time and leave GORO with still only 56 million shares and no dilution. This all on top of the Mexican operations that are ready to push up greater cash flow.
Management can't be too bad?
Checkmate 28
Spartex Nice to see your keeping an eye on DNI, but for better results open both eyes and your mind as well.
This was a 3 party community relations program where DNI was invited by the Madagascar government to help along with USAID.
TORONTO, ONTARIO / ACCESSWIRE / May 15, 2018 / DNI Metals Inc. (DNI: CSE) ("DNI" or the "Company"), is pleased to announce that it was an invited participant of a government-affiliated clean water event held on May 03rd 2018 north of Brickaville, Madagascar. The event, related to the UN-sponsored World Water Day, held on the 22nd March annually, is part of USAID’s $30 million, RANO WASH project announced February 23, 2018 < https://www.usaid.gov/rano-wash >. From the USAID website:
In case your not aware, to get the final PE license to produce and sell graphite in Madagascar, you need the support of the locals, plus gov sign off for the CSR Corporate Social Responsibility and the Environmental Licence. This is mandatory, smart legwork to get any mining company producing and selling resources. You want your local community behind you dont you think?
Im sure other potential graphite producers in Maddy wish they were invited. Im thinking DNI is well on their way to getting the PE licence very soon that will make them one of only 6 producing graphite companies in the world.
Thoughts ?
Checkmate28
DNI Metals, DNI.CA or DMNKF Battery Metal Graphite play. Nice price and volume increases coming in last 2 days. Great time to catch up on the DD
Rumor is, there extremely close to getting their final environmental licence that allows them to produce and sell graphite.
Probably one of the worlds best graphite property's
Already with 1 South Korean offtake agreement and possibly Indian agreement coming
With the PE licence, they could be producing still this year due to the simplicity and low cost of the processing plant. Processing plant has been designed by an engineering firm, quoted by a Chinese firm that can have it containerized and shipped in 60 days. Because of loose pack Saprolite, no dynamite, crushers grinders needed.
There will need to be a financing to get the few million for the finance of the plant. Im guessing the PP will be higher than todays price as an issued licence will allow DNI shares to move quick towards a fairer evaluation. Their $9M MC is about 15% of Bass Metals just down the road to DNI Metals.
The final licence is the last news Ive been waiting for and the reason Ive not posted. After what happened to GWA and their delays I figured Id wait.
Bottom line, it they get the licence, their will be a lot of news fast
and this stock will move. No licence and were just waiting.
Great recent 35Min interview from Proven and Probable.
GORO Over $6 today. All last year I called 2018 the year for GORO. Thats going to be dead nuts on. Looks great Technically and fundamentally.
Getting the final Environmental permit to allow for the start of mining in Nevada was the cork off the bottle. The company is ready to progress on several fronts simultaneously.
The Nevada operation Isabelle Pearl is well on its way, crushers on site. They should be loading the pits in 10 to 12 months. There expecting Isabelle to double company wide gold production and increase revenues by 70% . Nearly 2 gpt grades open pit is very high grade.
GORO earned .10/share 1st quarter allowing for a very good chance they can finish paying for the Nevada CAPEX from cash flow and the $29M growing bank balance. If not, they have an ATM line of credit ready to go.
Additional to this they are running on 8 cylinders on their Mexico properties with lots of optionality that they did not have in the past. Currently, due to pricing, they are hitting the Base metals, hard down deep. mostly zinc but can flip to gold up higher in the mine should the POG increase. The Arista mine carried the whole company until today where the Switchback and Alta Gracia properties are kicking in. Better yet, the Arista mine is growing with several years left.
Some here complain about mgt but GORO still has only 57Million shares out, pays cash for everything they do or purchase while still making money and paying a dividend.
I heard Schwab currently is rating GORO an A
I think GORO will be at $8 shortly and move up from there as they near production at Isabelle Pearl.
Checkmate28
Graphite’s Role in the Electric Vehicle Revolution
Investing News Network, investingnews.com/
0 Comments| 6 days ago
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This INNspired article is brought to you by: Berkwood Resources (TSXV:BKR), a Vancouver-based junior resource exploration Company. As their slogan "Plugged into high tech minerals" suggests, Berkwood focuses on finding resources for 21st-century technologies. The Company has staked its future on four Quebec projects with graphite, cobalt, vanadium and lithium (all elements that go into electric car batteries).
image: http://www.stockhouse.com/media/topstories/Misc/electric-vehicle-1-(003).jpg
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Graphite, a little-known component of lithium-ion batteries, is booming thanks to a unified global pushback against fossil fuels and a commitment to clean energy.
In December 2017, French President Emmanuel Macron announced a ground-breaking, but largely symbolic, commitment to fighting climate change: all oil-drilling permits within France and its territories are to expire without renewal by 2040 and no further permits are to be issued. France is not a major player in the fossil fuels market, but the move is meant to implore bigger polluters to do the same.
Countries in the global south will be the hardest hit by rising temperatures linked to climate change, with droughts in the Philippines and famines in India expected in the coming years. With fossil fuels under increasing scrutiny, and with international pushback mounting, green energy sources are surging to fill the vacuum oil and gas are leaving.
In late 2017, Bloomberg News reported that one in six new cars sold by 2025 will be electric, and industry giant China is offering massive government subsidies on electric vehicles (EVs) to cut down on carbon emissions as a means of curbing the damage caused by climate change.
It’s here that graphite producers hope to contribute to the gradual curbing of climate change-related effects by helping create batteries for emission-free vehicles. “Demand for graphite is going to increase dramatically as the trend towards electric vehicles grows exponentially over the next several years,” Thomas Yingling, CEO of Berkwood Resources (TSXV:BKR), told INN.
International commitments to EVs
Federal governments across the world have been establishing bans on gas- and diesel-powered cars, pushing the need for EVs. Alongside France’s declaration, there are a number of other nations making their position clear when it comes to reducing the environmental impact of automobiles. In the UK, for instance, the government aims to reach the targets set out by the Paris accords by making all vehicles zero emission by 2050. Meanwhile, in Norway, all new passenger cars and vans sold after 2025 are expected to be EVs.
These regulations are not particular to the “western world.” Industry giant China is currently working towards a new EV target of 12 percent of all vehicles by 2020. India, meanwhile, has established a policy for all vehicles sold as of 2030 to be electric.
The trend for implementing environmentally progressive policies related to automobiles is on the rise, with countries spanning various continents setting official targets for EV sales. Mandates such as these will continue to generate demand for the EV market, placing significant weight on the need for the materials used in their batteries, including graphite.
Graphite’s role in the EV revolution
Lithium is one of the EV revolution’s best-known champions, with the batteries that power electric cars bearing its moniker. But graphite is a lesser-known yet crucial component in lithium-ion batteries. In fact, lithium-ion batteries require more graphite than lithium, with some estimates reaching 10 to 20 times as much. Elon Musk has said a more apt name for the batteries would be nickel-graphite, as the lithium components make up only 2 percent of the finished battery.
These innovations have meant that alternative power supplies such as nickel-cadmium batteries have been phased out due to the emergence of superior lithium-ion technology. Lithium-ion batteries weigh less, hold their charge longer and perform better under extreme temperatures than their nickel-cadmium competitors.
In these increasingly popular batteries, graphite forms the negative electrode, known as an anode. Lithium ions are sent from the anode to the cathode through the electrolyte buffer separating them. Once the process is reversed, the result is an electric current that powers vehicles like the Tesla Model S. The advantages of using graphite as an electrode are its abundance and the material’s lengthy cycle life.
The use of graphite as a component in rechargeable batteries is largely due to its versatility. At an atomic level, graphite is arranged in a honeycomb structure that affords it electrical conductivity — graphite being the only non-metal capable of this — and flexibility, making it perfectly suited for use in EVs.
Not all graphite can be used as anodes, however. The predominant types of graphite are flake, amorphous, vein and synthetic. Under a microscope, flake graphite appears flat and plate like, with either angular or hexagonal edges. Flake graphite can then be further subcategorized into small, medium, large or jumbo flake. According to Yingling, “it is large flake, and the correct grade graphite that is needed in battery development. Small-flake graphite cannot be used.”
Most of the world’s graphite comes from China, with India and Brazil placing second and third in graphite production. However, other sources, like Berkwood’s Lac Guéret project in Quebec, are still being uncovered. According to Yingling, Berkwood hopes that like its neighbor, Mason Graphite (TSXV:LLG), its project hosts the correct grade and large-flake graphite needed in EV batteries.
The material is mined either through open-pit methods or underground mining and the substance is found in metamorphic rocks such as limestone. Although the required flake size can vary between industries, purity is key: the higher graphite’s purity is, the less processing it requires. Because of its potential as a lithium-ion battery anode, large-flake graphite is attracting significant market interest.
The megafactories and beyond
Looking to address the increased demand in EVs, spurred by government regulations and innovations in the battery space, Tesla’s proposed lithium-ion battery gigafactory could require as much as 112,500 tonnes of flake graphite per year, according to Benchmark Mineral Intelligence, and three other megafactories are expected to compete for market share alongside Tesla by 2020.
These factories aim to capitalize on the advantages lithium-ion batteries hold over their nickel-cadmium competitors and to satisfy a burgeoning market. By 2018, Tesla’s gigafactory is expected to produce 35 GWh of lithium-ion battery cells per year, nearly matching the total global output. Additionally, Grand View Research states that the market is expected to value US$93.1 billion by 2025 thanks in part to electric vehicles, portable electronic devices and grid-storage systems.
Graphite’s applications extend beyond transport technology as well. Fuel cells, which can provide power on a commercial scale, convert chemical energies like hydrogen into electricity and require even more graphite than lithium-ion batteries, and pebble-bed nuclear reactors require fist-size graphite balls to house their uranium.
Graphite resources in North America
With flake graphite’s standing as the fastest-growing segment in the global graphite market, companies like Graphite One Resources (TSXV:GPH) are positioned to capitalize on newfound global demand for graphite. Having identified a large graphite resource in Alaska, Graphite One has announced findings of large-flake, high-purity graphite meeting the requirements for battery production.
Developing its Lac Guéret Extensions project, Berkwood Resources is also working towards supplying the rising demand for graphite. According to recent news, drilling at the property revealed samples of large, coarse flake with grades including 37.68 percent over 27.11 meters.
The takeaway
A global shift away from fossil fuels is contributing to graphite’s success as part of the highly profitable lithium-ion battery. Subsidies from countries like the US and China are helping to jumpstart electric vehicle sales and are spurring the extraction of graphite. With graphite as an integral material in the construction of everything from nuclear power plants to smartphones, the material’s viability as an investment has never been clearer.
Read more at http://www.stockhouse.com/news/newswire/2018/05/09/graphite-s-role-electric-vehicle-revolution#rSvyPrTjybdL7PWb.99
[img][/img]DNI Sponsors Clean Water Day in Madagascar, and DNI Update
C.DNI, DNI | 14 minutes ago
TORONTO, ONTARIO / ACCESSWIRE / May 15, 2018 / DNI Metals Inc. (DNI: CSE) ("DNI" or the "Company"), is pleased to announce that it was an invited participant of a government-affiliated clean water event held on May 03rd 2018 north of Brickaville, Madagascar. The event, related to the UN-sponsored World Water Day, held on the 22nd March annually, is part of USAID’s $30 million, RANO WASH project announced February 23, 2018 < https://www.usaid.gov/rano-wash >. From the USAID website:
"RANO WASH will increase access to clean water for vulnerable populations, including girls, women and people with disabilities. In total, over 600,000 people will benefit from the project. This includes 300,000 people who will get access to clean drinking water through 140 water supply systems. These systems will be managed by local businesses with training from the project. A further 375,000 people will have better sanitation options thanks to improvements and rehabilitation work to existing toilets and cleaning stations. 190 public facilities, including health centers and schools, are among the locations destined to receive improved sanitation facilities."
image:
Hosting Banner for Rano-Wash Event of 03rd May 2018
The sponsoring entity, RANO-WASH, which stands for 'Rural Access to New Opportunities in Water, Sanitation, and Hygiene', will be implemented by a CARE-led consortium in conjunction with the Malagasy Ministry of Water, Energy and Hydrocarbons and Ministry of Public Health.
The event was held in the community of Sahavalaina, approximately 30km north of the District capital of Brickaville. Sahavalaina is located within DNI’s 100%-owned Marofody mining licence and 8km south of the main entrance to its 100%-owned Vohitsara Project.
It was well attended, with in excess of 100 locals present together with representatives of national, regional and local government and members of the Malagasy media.
image:
DNI’s Stand at the RANO-WASH event
image:
DNI Personnel Presenting the Company’s Programme to Locals & Officials
As part of the drilling program at the Vohitsara project a mandatory CSR program was implemented. This is an integral part of maintaining operational viability and community engagement. The program was comprised of training, health and medical support, as well as steps to improve access to clean water for residents. In doing so, the program:
Installed and commissioned a water well and pump at Ambatolampy village
Expanded and upgraded the local soccer field for the Ambatolampy and Vohitsara communities
Installed a road connecting Ambatolampy village to the national highway at Vohitsara village
Sourced and planted various fruit trees and soil stabilisation vegetation at strategic locations throughout the project area.
image:
image: https://www.accesswire.com/uploads/DNI_5.jpg">https://www.accesswire.com/uploads/DNI_5.jpg" />
Drilling & Commissioning of the Water Well & Pump at Ambatolampy
image: https://www.accesswire.com/uploads/DNI_6.jpg">https://www.accesswire.com/uploads/DNI_6.jpg" />
image: https://www.accesswire.com/uploads/DNI_7.jpg">https://www.accesswire.com/uploads/DNI_7.jpg" />
Upgraded Soccer Field at Ambatolampy (L) Kids Playing on Soccer during site visit Apr.19 (R)
image: https://www.accesswire.com/uploads/DNI_8.jpg">https://www.accesswire.com/uploads/DNI_8.jpg" />
image:
image:
image:
Above are pictures taken at an event commissioning a roadside nursery at the main entrance to the Vohitsara Project site. This event took place on the 11th April 2018. The plant nursery will be operated on a commercial basis by the local women's cooperative.
According to WaterAid: “11.7 million people in Madagascar don’t have access to safe water, 88% of the population of Madagascar don’t have access to improved sanitation, almost 4,000 children under five die every year from diarrheal diseases caused by unsafe water and poor sanitation.”
USAID backs up these claims by stating: “more than 58 percentMadagascar's people lack access to safe drinking water and nearly half of all households live without sanitation facilities.”
Dan Weir, CEO, commented: “ It is significant that, as part of the CSR for the 2017 Vohitsara drilling program, the Project was able to improve access to fresh potable water to local residents in the Project area.
The people of Madagascar are amazing, and as we develop our projects, we look forward to doing what we can to improve their lives.”
Update on bulk sample shipped to India
Through October and into November of 2017, DNI completed a 40 tonne bulk sample program from the main zone and the southwest zones of its Vohitsara graphite project. 26 tonnes total - 13 tonnes from each zone - were shipped to India and processed by the leading Indian graphite producer. The Indian group has informed DNI that they are quite impressed with the material and DNI is currently in final negotiations with them regarding the planned purchase of material from DNI's pilot plant.
image:
image:
Collected Samples ready for Shipment (L) – Close-Up of the material, showing coarse flake graphite (R)
Update on the Pilot Plant
The engineering is complete, subject to minor changes. DNI has obtained quotes from three China-based and one Canadian-based manufacturer. Once DNI obtains the environmental license(s) preparation will begin at the designated location for the pilot plant. The plant will be containerized and according to the Chinese quotes, can be ready for shipping in about 60 days. Transhipment from China to Madagascar is estimated at about 30 days. In consequence and allowing for potential delays, (e.g. customs clearance, plant construction etc.), DNI believes the plant will be operational in 2018. Note: DNI has identified suitable sites on both the Vohitsara and Marofody properties for the installation of processing facilities.
Update on Environmental License for Vohitsara and Marofody
As previously reported by DNI, commercial production was subject to completion / fulfillment of the requisite environmental impact and social responsibility ("EIE" & "CSR") studies and obligations. This 500-page study was filed with the Malagasy government in November 2017, for the Vohitsara Project. All fees have been paid and we expect to have the license shortly. For the Marofody project, the study and all fees have also been filed and paid, and we also expect to have this license shortly.
Dan Weir, CEO, commented, "We are currently completing all of the required steps to obtain the environmental licenses. This has been a 6 month process, but when compared to North America, which can take several years, we are impressed with the Malagasy efficiency."
According to SNL Metals, "In the U.S., the process can take more than seven years. When accounting for the other permits major mining projects require, the timeframe for obtaining all necessary permits to operate can easily exceed 10 years."
https://nma.org/wp-content/uploads/2016/09/SNL_Permitting_Delay_Report-Online.pdf
Update on the Arbitration with Cougar Metals
An arbitrator has been appointed to review all the information, and a schedule has been set. If the Arbitration continues to its full extent, the final evidentiary hearing will take place during the week of September 24, 2018. The arbitrator's final decision is expected to be rendered after that hearing.
About DNI Metals
Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all of which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ontario.
It was our team's understanding of the high production and capital expenditure costs associated with so-called "hard rock" graphite mining that inspired DNI to search for saprolite-hosted graphite deposits.
Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite.
According to Dictionary.com, saprolite is described as:
"Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed."
DNI owns two saprolite-hosted graphite deposits in Madagascar; located 50kms from the country's main seaport. The deposits are located less than two (2) kms from the paved national highway. DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established. DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS).
DNI has a graphite wholesale business, through which it buys and sells high quality graphite.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
DNI – Canadian Securities Exchange
DMNKF - OTC
Issued: 100,732,580
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Read more at http://www.stockhouse.com/companies/bullboard?symbol=dmnkf&postid=28031801#eI2pe37wjeGfq4A8.99
DNI Sponsors Clean Water Day in Madagascar, and DNI Update
C.DNI, DNI | 14 minutes ago
READS BEST FROM THE LINK ON THE BOTTOM WHERE YOU CAN SEE THE JPEGS WHERE THEY ARE SUPPOSED TO BE! CM
TORONTO, ONTARIO / ACCESSWIRE / May 15, 2018 / DNI Metals Inc. (DNI: CSE) ("DNI" or the "Company"), is pleased to announce that it was an invited participant of a government-affiliated clean water event held on May 03rd 2018 north of Brickaville, Madagascar. The event, related to the UN-sponsored World Water Day, held on the 22nd March annually, is part of USAID’s $30 million, RANO WASH project announced February 23, 2018 < https://www.usaid.gov/rano-wash >. From the USAID website:
"RANO WASH will increase access to clean water for vulnerable populations, including girls, women and people with disabilities. In total, over 600,000 people will benefit from the project. This includes 300,000 people who will get access to clean drinking water through 140 water supply systems. These systems will be managed by local businesses with training from the project. A further 375,000 people will have better sanitation options thanks to improvements and rehabilitation work to existing toilets and cleaning stations. 190 public facilities, including health centers and schools, are among the locations destined to receive improved sanitation facilities."
image: https://www.accesswire.com/uploads/DNI_1.jpg
Hosting Banner for Rano-Wash Event of 03rd May 2018
The sponsoring entity, RANO-WASH, which stands for 'Rural Access to New Opportunities in Water, Sanitation, and Hygiene', will be implemented by a CARE-led consortium in conjunction with the Malagasy Ministry of Water, Energy and Hydrocarbons and Ministry of Public Health.
The event was held in the community of Sahavalaina, approximately 30km north of the District capital of Brickaville. Sahavalaina is located within DNI’s 100%-owned Marofody mining licence and 8km south of the main entrance to its 100%-owned Vohitsara Project.
It was well attended, with in excess of 100 locals present together with representatives of national, regional and local government and members of the Malagasy media.
image: https://www.accesswire.com/uploads/DNI_2.jpg
DNI’s Stand at the RANO-WASH event
image: https://www.accesswire.com/uploads/DNI_3.jpg
DNI Personnel Presenting the Company’s Programme to Locals & Officials
As part of the drilling program at the Vohitsara project a mandatory CSR program was implemented. This is an integral part of maintaining operational viability and community engagement. The program was comprised of training, health and medical support, as well as steps to improve access to clean water for residents. In doing so, the program:
Installed and commissioned a water well and pump at Ambatolampy village
Expanded and upgraded the local soccer field for the Ambatolampy and Vohitsara communities
Installed a road connecting Ambatolampy village to the national highway at Vohitsara village
Sourced and planted various fruit trees and soil stabilisation vegetation at strategic locations throughout the project area.
image: https://www.accesswire.com/uploads/DNI_4.jpg
image: https://www.accesswire.com/uploads/DNI_5.jpg
Drilling & Commissioning of the Water Well & Pump at Ambatolampy
image: https://www.accesswire.com/uploads/DNI_6.jpg
image: https://www.accesswire.com/uploads/DNI_7.png
Upgraded Soccer Field at Ambatolampy (L) Kids Playing on Soccer during site visit Apr.19 (R)
image: https://www.accesswire.com/uploads/DNI_8.jpg
image: https://www.accesswire.com/uploads/DNI_9.jpg
image: https://www.accesswire.com/uploads/DNI_10.jpg
image: https://www.accesswire.com/uploads/DNI_11.jpg
Above are pictures taken at an event commissioning a roadside nursery at the main entrance to the Vohitsara Project site. This event took place on the 11th April 2018. The plant nursery will be operated on a commercial basis by the local women's cooperative.
According to WaterAid: “11.7 million people in Madagascar don’t have access to safe water, 88% of the population of Madagascar don’t have access to improved sanitation, almost 4,000 children under five die every year from diarrheal diseases caused by unsafe water and poor sanitation.”
USAID backs up these claims by stating: “more than 58 percent Madagascar's people lack access to safe drinking water and nearly half of all households live without sanitation facilities.”
Dan Weir, CEO, commented: “ It is significant that, as part of the CSR for the 2017 Vohitsara drilling program, the Project was able to improve access to fresh potable water to local residents in the Project area.
The people of Madagascar are amazing, and as we develop our projects, we look forward to doing what we can to improve their lives.”
Update on bulk sample shipped to India
Through October and into November of 2017, DNI completed a 40 tonne bulk sample program from the main zone and the southwest zones of its Vohitsara graphite project. 26 tonnes total - 13 tonnes from each zone - were shipped to India and processed by the leading Indian graphite producer. The Indian group has informed DNI that they are quite impressed with the material and DNI is currently in final negotiations with them regarding the planned purchase of material from DNI's pilot plant.
image: https://www.accesswire.com/uploads/DNI_12.jpg
image: https://www.accesswire.com/uploads/DNI_13.jpg
Collected Samples ready for Shipment (L) – Close-Up of the material, showing coarse flake graphite (R)
Update on the Pilot Plant
The engineering is complete, subject to minor changes. DNI has obtained quotes from three China-based and one Canadian-based manufacturer. Once DNI obtains the environmental license(s) preparation will begin at the designated location for the pilot plant. The plant will be containerized and according to the Chinese quotes, can be ready for shipping in about 60 days. Transhipment from China to Madagascar is estimated at about 30 days. In consequence and allowing for potential delays, (e.g. customs clearance, plant construction etc.), DNI believes the plant will be operational in 2018. Note: DNI has identified suitable sites on both the Vohitsara and Marofody properties for the installation of processing facilities.
Update on Environmental License for Vohitsara and Marofody
As previously reported by DNI, commercial production was subject to completion / fulfillment of the requisite environmental impact and social responsibility ("EIE" & "CSR") studies and obligations. This 500-page study was filed with the Malagasy government in November 2017, for the Vohitsara Project. All fees have been paid and we expect to have the license shortly. For the Marofody project, the study and all fees have also been filed and paid, and we also expect to have this license shortly.
Dan Weir, CEO, commented, "We are currently completing all of the required steps to obtain the environmental licenses. This has been a 6 month process, but when compared to North America, which can take several years, we are impressed with the Malagasy efficiency."
According to SNL Metals, "In the U.S., the process can take more than seven years. When accounting for the other permits major mining projects require, the timeframe for obtaining all necessary permits to operate can easily exceed 10 years."
https://nma.org/wp-content/uploads/2016/09/SNL_Permitting_Delay_Report-Online.pdf
Update on the Arbitration with Cougar Metals
An arbitrator has been appointed to review all the information, and a schedule has been set. If the Arbitration continues to its full extent, the final evidentiary hearing will take place during the week of September 24, 2018. The arbitrator's final decision is expected to be rendered after that hearing.
About DNI Metals
Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all of which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ontario.
It was our team's understanding of the high production and capital expenditure costs associated with so-called "hard rock" graphite mining that inspired DNI to search for saprolite-hosted graphite deposits.
Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite.
According to Dictionary.com, saprolite is described as:
"Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed."
DNI owns two saprolite-hosted graphite deposits in Madagascar; located 50kms from the country's main seaport. The deposits are located less than two (2) kms from the paved national highway. DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established. DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS).
DNI has a graphite wholesale business, through which it buys and sells high quality graphite.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
DNI – Canadian Securities Exchange
DMNKF - OTC
Issued: 100,732,580
For further information, contact:
DNI Metals Inc. – Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
Forward-looking Statements
Read more at http://www.stockhouse.com/news/press-releases/2018/05/15/dni-sponsors-clean-water-day-in-madagascar-and-dni-update#YTtWIXmAt0LSmyoC.99
GOLD RESOURCE CORPORATION RECEIVES FINAL PERMIT AND BOARD APPROVAL FOR ISABELLA PEARL GOLD PROJECT,
MINERAL COUNTY, NEVADA
Ive been saying 2018 is going to be the year for GORO as they've set up nicely the last 4-5 years to produce more at lower cost. This news is going to get some treaction in the share price when the market figures out what it means
COLORADO SPRINGS – May 15, 2018 – Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced it has been granted a positive Record of Decision (ROD) on the Environmental Assessment (EA) for the Isabella Pearl open pit heap leach gold project (Project) located in Mineral County, Nevada. This final permit, along with approval from the Company’s Board of Directors to move the Project into production, mark a major milestone for the Company’s Nevada Mining Unit. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $110 million to shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
In addition to the ROD and EA permit, the Plan of Operation (POO) for the Project has been approved by both the Bureau of Land Management (BLM) and Nevada Department of Environmental Protection (NDEP). With these final permits, along with permits for mercury, water, air and other ancillary permits already in place, the Company has all the regulatory approvals necessary to construct, operate and pour dore at the Project.
The Company recently announced the Project’s Proven and Probable Reserve totaling 192,600 gold ounces and targets to produce approximately 153,000 gold ounces over an initial four-year mine life. The Project estimates annual recovered gold ounces (oz’s) of: 29,000 oz’s year one, 41,000 oz’s year two, 41,000 oz’s year three and 42,000 oz’s year four. An average cash cost of $650 per ounce (plus or minus 10%) is estimated over the initial four-year mine life with annual costs projected to decline year-over-year as higher grades are mined and strip ratios decrease. The Company anticipates adding to the Project’s reserves with future exploration drilling and has identified two new exploration targets within the existing permitted mine plan, Scarlet and Civit Cat North, along with numerous exploration targets along the Company’s Isabella Pearl claims covering six miles of structural trend.
Initial capital expenditure (CAPEX) for the Project is estimated at $30 million. The Company has already spent approximately $10 million towards the Project with cash and equipment financing, having secured a new Telsmith crusher, Superior conveyors and stacker and a Scotia International of Nevada ADR dore process plant, which are all 100% complete, mobile and ready to be moved to the Project and set up once the site and foundations have been prepared.
The Company’s Board of Directors has approved moving the Project forward immediately by initially drawing on the Corporate treasury ($28.6 million at March 31, 2018). The future CAPEX is targeted to fund from cash and operational monthly cashflow. The Company anticipates alternative funding would be available, if required, through equity and/or potential debt facilities. Total construction time to build the Isabella Pearl Project is estimated at less than 12 months from the point of breaking ground. The Company’s management is moving towards that first ground breaking as soon as possible after the required Project bond is in place and providing the BLM the required two-week notice to commence construction.
The Company has chosen its third-party mining contractor for both the heap leach pad construction and contract mining of the Project. The heap pad contract is in final review and is expected to be signed shortly followed by the mining contract.
“This is an exciting milestone and time for Gold Resource Corporation shareholders and our Nevada Mining Unit,” stated Jason Reid, CEO and President of Gold Resource Corporation. “We are pleased to have successfully navigated the permitting process and now shift our efforts to construction of our first Nevada gold project, the Isabella Pearl. We are currently in a strong cash position and focused on completing this project with cash and cashflow if possible. This goal will require metal prices and operations to continue as they have thus far this year. While we have other funding alternatives available if needed to help us overcome unforeseen challenges or metal price volatility, the Board of Directors and management of Gold Resource Corporation remain committed to shareholders and are moving forward with a goal to avoid or limit shareholder dilution to the extent possible as we move forward with the Project. Juggling and allocating the cash demands of both existing operations and project construction is the more difficult path, but we welcome the challenge. The Project targets more than doubling the Company’s annual gold production profile with material, substantial and accretive gold ounces. With the Isabella Pearl Project at full production, the consolidated precious metal gold equivalent ounce production could potentially push over 90,000 ounces per year at a 74.1:1 silver to gold ratio, based on 2017 production totals. It will take a bit of time to fully mobilize equipment to the Project, but once construction activities commence, the Company targets first gold production at Isabella Pearl in less than twelve months.”
Mr. Reid continued, “We want to thank all those involved in this process including our staff and consultants, the Bureau of Land Management, the Nevada Division of Environmental Protection, and the Mineral County Board of Commissioners and local communities. Long term, we view Isabella Pearl as the first of several potential operating projects from our Nevada Mining Unit’s profile of potential high-grade gold properties. We believe both the State of Nevada and the local communities in which we operate will benefit from the positive economic impact from our operations.”
CPTMatt Reading your post. "They issue a PR that basically says they've shut down and don't know when they will start back up. Meanwhile they just did a financing that requires gold delivery by end of June (< 2 months from now)."
From the GWA Press Release on the Gold Agreement
https://web.tmxmoney.com/article.php?newsid=5216373425200885&qm_symbol=GWA
Gowest expects to send its first concentrate shipment to Humon’s smelter in the second quarter of this year. The terms of this concentrate agreement provide that Gowest has until June 30, 2019, to repay the funds in the form of gold concentrate, cash or, at Gowest’s option, shares in the Company (subject to TSX Venture Exchange approval.) The Company is confident that it is well positioned to meet this obligation through the delivery of gold concentrate from its bulk sample project at Bradshaw.
This was a great deal for Gowest from a company looking for a long term relationship with GWA. Gowest has until June 30, 2019 to repay $3M.
There is no requirement to have gold delivered by June 2018 as you said. I confirmed this. This is the least of our worries.
30,000 tonnes of ore on surface needs to get milled. Hopefully as you said it goes to Redstone. Current plan is, they would be trucking to the Redstone mill. Trucking somewhere else doesnt have to be onerously more in cost.
Also keep this in the back of your mind.
Discussions with PGB are on-going; however, there is no requirement for the Company to seek or accept any further funding from PGB.
CM
Americas Silver Corporation Provides First Quarter Production and Cost Update Including Record Low Cash Costs and All-In Sustaining Costs
Dr Air Your wish coming true.
Might be the start of your wild ride! This has top be a good day for USA
https://web.tmxmoney.com/article.php?newsid=5618001744636201&qm_symbol=USA
April 17, 2018
TORONTO, ONTARIO—April 17, 2018—Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”) today announced consolidated production and operating cost results for the first quarter of 2018 and individually for its Cosalá Operations and Galena Complex. All figures are in U.S. dollars unless otherwise indicated.
First Quarter Highlights (compared to Q1, 2017)
Consolidated silver production of approximately 400,000 silver ounces and 1.6 million silver equivalent[1] ounces.
Consolidated cash costs[2] were approximately negative ($2.50) per silver ounce, a decrease of 125%.
Consolidated (“AISC”) were approximately $6.40 per silver ounce, a decrease of 50%.
Cosalá Operations silver production solely from the Company’s San Rafael mine of approximately 80,000 silver ounces and 950,000 silver equivalent ounces. Cash costs were approximately negative ($58.45) per silver ounce and all-in sustaining costs were approximately negative ($35.20) per silver ounce.
Galena Complex silver production of approximately 320,000 silver ounces and 666,000 silver equivalent ounces representing increases of 16% and 17%, respectively. Cash costs were approximately $11.45 per silver ounce and all-in sustaining costs were approximately $16.75 per silver ounce down 28% and 23%, respectively.
Guidance for 2018 remains unchanged at 1.6 – 2.0 million silver ounces and 7.2 – 8.0 million silver equivalent ounces at cash costs of negative ($10.00) to negative ($5.00) per silver ounce and all-in sustaining cash costs of negative ($1.00) to $4.00 per silver ounce. The Company expects to release its first quarter financial results on or before May 10, 2018.
“The Company had a strong first quarter at both operations as San Rafael continued to ramp up in terms of mining rate and mill throughput,” said Americas Silver President and CEO Darren Blasutti. “Shareholders will be pleased with the significant reductions in our cash costs and AISC year-over-year as the benefits of San Rafael begin to be realized. We expect further reductions into the second half of the year as mill throughput reaches a steady state at 1,700 tonnes per day and San Rafael capital expenditures reduce to sustaining levels. Galena also delivered notable decreases in cash costs while increasing silver production, supporting the consolidated results.”
GWA Updated since I hit send early CPTMatt All great points and FYI, I am very concerned myself. Please remember, we're looking at probably thousands of hours of negotiations past and post from the lens of a couple press releases. Chit happens with all developers. Before you grade them an F lets see what happens.
contingencies in place? Have you read the binding agreements with Northern Sun? I think they are exercising their contingency right now by looking for the best source to get around the governments requirements.
As to the Humon financing this is a friendly deal probably collaborated with their Chinese Partner FF.
With the sorter, they should push 550 tpd and with 30000 tonnes on surface, they are ready to sign a deal. See what happens. Could easily get ore moving with tolling deal.
I noticed this from the press release. Has to be here for a reason.
Discussions with PGB are on-going; however, there is no requirement for the Company to seek or accept any further funding from PGB.
Checkmate28
GWA First operationally on site, things were going great. Two shifts, nice drill results, new high grade zones and 30,000 tonnes of ore on surface ready for the mill. Thats worth something and GWA has something to offer here. There are other truckable places to process the ore. Certainly dont think GWA is sitting on their hands and isnt checking options out. The ore sorter wil help minimize the volume shipped but no reason to push that with no mill deal. Also factoring is GWA was in a binding agreement and is not now.
Its also been no secret, there are holdups from mining officials getting things officially finalized with the mill. Link back, Ive warned this a couple times. Should GWA shoulder the blame here?
Short term PP. Thats a killer thinking about that now. Remembering GWA insiders hold more shares then us all combined, Im sure they were not planning a low price financing all along or that they knew this deal would not finalize? Keep in mind, a short term tolling agreement with Northern Sun at the RedStone Mill makes the most sense and could come before or after the possible PP. No other miner/developer near Timmins can consistently provide volume that Gowest can. Remember this is contingent on the MM and Environment requirements. Again GWA is at their mercy, but some near term election political/local gov pressure could open things up.
Bottom line, These are good people running the company. They are operating in their guidelines and given time parameters. Its clear to me, Gowest was pushing ahead and due to obstacles, just didn't get over the finish line fast enough. Then in full disclosure, gave us this update, stepped back for a minute and will progress with the best available deal.
I think most of this was priced in as investors exited due to delays.
.07 will prove to be a buying opp bargain (there he is pumping again) and GWA will take its best option and move forward towards processing its bulk sample and commercial production.
Checkmate28 s 2 cents
GWA Not good news here. I think the root problem here is the Ministry of Mines, and Environmental agencies dragging their feet on approving the Redstone Mill acquisition thereby affecting everything. The short term solution is to get a tolling agreement finalized and have the company along with the Local community put pressure on the Ontario Ministry to get this done. With the elections coming, locals should be able to help pressure governments to help move the project and get jobs created. Stay tuned
GOWEST PROVIDES UPDATE ON BRADSHAW DEVELOPMENT
TORONTO, ONTARIO - (April 16, 2018) Gowest Gold Ltd. (TSXV: GWA) (the "Company") is pleased to provide an update on its advanced exploration activities at the Company’s 100% owned Bradshaw Gold Deposit (“Bradshaw”) located in the Timmins Gold Camp, including its ongoing Bulk Sample Program.
Bradshaw Highlights:
Completed over 2,098 metres of underground development
The 30, 45 and 60 metre levels are under development
Silling is well underway on all levels
28,567 tonnes of development material have been stockpiled on surface for sorting, milling and sale as concentrate
No injuries at the project to date for mine site surface and underground construction
Water treatment plant is fully operational and the discharge is environmentally compliant
Agreement to process concentrate in place (see Gowest news release dated February 14, 2018)
Current mining temporarily suspended due to the lack of room for further development material stockpiling as well as uncertainty on the timing of material processing
Tolling Agreement, Northern Sun (Redstone Mill)
The Company and Northern Sun Mining Corp. (“Northern Sun”) are continuing to develop a formal agreement pursuant to which Northern Sun would process ore from Bradshaw by way of a toll-milling arrangement. To that end, Northern Sun has received conditional approval for the processing of the ore through the Redstone Mill from both the Ministry of Environment and Climate Change and the Ministry of Northern Development and Mines, subject to satisfying certain provincial government guidelines, the timing of which cannot be determined. While Gowest is committed to completing an arrangement with Northern Sun, there can be no assurance that such an arrangement will be reached between the parties and, as such, the Company is reviewing and pursuing various alternatives for the processing of ore from its Bulk Sample, as well as through to pre-production and into full mining operations.
Redstone Mill Acquisition
Northern Sun and the Company have mutually determined to terminate the previously announced share purchase agreement entered into between the parties, pursuant to which the Company was to acquire a 50% interest in the Redstone Mill and form a joint venture with Northern Sun for its operation (see Gowest news release dated June 16, 2017). Certain conditions precedent to the completion of the transaction have not yet been satisfied and the timing for the satisfaction of such conditions precedent remains uncertain at this time. This termination allows for both Northern Sun and Gowest to re-evaluate their strategic plans.
Operations
As the Company reviews and evaluates its options for processing ore from its Bulk Sample, and given the uncertainty of the timing surrounding the processing of the Bulk Sample and the fact that there is no further capacity at the mine site to store any further underground mined material, the Company has determined to suspend current mining operations, but only to the extent that will ensure there will be no delay in the renewal of the development of the mine when conditions warrant. During this period, the Company will continue to focus on deferring, reducing or eliminating non-essential expenditures.
The Company’s key partners remain supportive in its efforts to develop the Bradshaw mine. To the extent possible, the Company and its key partners will continue to work cooperatively to ensure that mining operations may be resumed as soon as possible once the Company has secured both necessary arrangements for processing ore from Bradshaw and additional funding.
Financing Update
The Company continues to have support from PGB Timmins Holdings LP (“PGB”), who provided the initial financing for the commencement of development of the Bradshaw Mine through the Pre-Paid Forward Gold Purchase Agreement entered into between the Company and PGB (see Gowest news release dated Dec. 16, 2016).
With the termination of the share purchase agreement for the acquisition of a 50% ownership in the Redstone Mill, at this time the Company cannot satisfy the few remaining conditions precedent for the second tranche of the Pre-Paid Forward Gold Purchase Agreement, which were related primarily to the above noted acquisition by the Company and the completion of a toll-milling agreement.
Discussions with PGB are on-going; however, there is no requirement for the Company to seek or accept any further funding from PGB.
Gowest has spent the past year de-risking the Bradshaw deposit through its drilling program (see Gowest news releases dated November 29, 2017 and February 12, 2018) and its underground mine development. It is now in a position to start processing its stockpiled material. In order to continue its Bulk Sample Program and to enable it to refine its current plan towards full production, Gowest is planning to announce a financing in the near term.
“Given the timing to process our Bradshaw material at the Redstone Mill has been delayed well beyond what was originally contemplated, it is only prudent that we take the necessary steps we are announcing today,” said Gowest President and CEO, Greg Romain. “I am confident that we will find a solution in the near future to resume mining operations at Bradshaw.”
Please visit our website (www.gowestgold.com) for further information
Trader Re GWA. The mill deal, ore processed and gold revenues are the short term end game everyone is waiting for.
The wait for those milestones seems endless, and thats the main reason for the drizzling share price.
As to GWA mgt, their probably disenchanted with the share price, but its not their main concern right now.
Their main concern is to keep the 2 shifts working underground as cheap as possible, get the mill deal finalized, ore processed, gold revenues in the bank and the comercial mining permit.
After thats all wrapped up, what risk and uncertaIntly is there? Gowest will be a solid Timmins producer, drilling towards a 3 million ounce resource. Whats that market going to be worth is the question?
We figure out our future value, we place our bets, and wait and hope they do this all as fast as possible.
For me GWA's FV after those milestones is more than Harte Golds current $250M market cap and thats a 7 bagger from here for GWA.
As to GWA share count, Harte Gold is at 566M OS not sure on the FDOS. My Perseus Mining with over 1 Billion OS is up 50% since Dec17. I worry more about market cap than share price
As to delays on permitting, I learned a big lesson here with Ontario Minors. Plan on everything taking a long time and than some more. Going to factor this in more in the future.
One of the reasons I like DNI so much, is that they can do so much, so fast, once of coarse they get their final environmental approval.
The biggest risk factor I see for GWA, is getting Ontario to OK the commercial mining permit to continue after the bulk sample is done. In theory, getting the OK to continue mining at the same 600 tpd rate should be easy, but in ONtario, Ive learned nothings easy. The good thing is that at 600tpd, with 2 ramps and the ore sorter GWA should kick out 80K oz/year and throw out some decent CF.
For the little longer term, whats GWA MC worth, when its kicking out 80k OPY and with a 3 Million oz resource. I learned this from PDAC, GWA's partners really want to get the resource up to 3 Million Oz where the in situ value per oz is higher and Gowest will be worth a fortune.
Checkmate28 JMHO
Trader Re GWA I feel just like you. Whats another couple months if its worth the wait. Zero interest in the stock because it seems their moving at a snails pace, which their are lol. I give up trying to push things. It happens when it happens. Whats important, is their underground now, and it looks like there is more gold than they thought, and they are moving the project forward at a decent steady pace while they wait to solve the remaining couple obstacles.
The way I see it, GWA is working full steam ahead with 2 shifts developing underground. They are stacking ore up top and sorting out the issue with the ore sorter. Rather than pay personal to run a smaller amount of ore for a longer time, they are going to delay hiring the extra personnel, stack the ore and push close to the daily max production they can, which will be probably close to 550tpd. This ore should be 10 - 15gpt head grade depending on how much development ore they filter in. When we see ore going through with these numbers, with a nice press release, we should get a re-rating of the share price. (Catalyst 1)
Gowest still is waiting on the finalization of the mill deal. Since there is a 3rd party in the deal, mining officials seem to think things should take longer to officially OK the deal, when it really it shouldn't matter. This is not GWA'S fault. Final Authorization here (Catalyst 2) My guess at this point we have minimly an 80 - 100% bump in share price.
Gowest is seeking their commercial mining licence they applied for in late summer 2017. This requires the signoff of 1st nations which they are probably near getting. Said 1st Nations are like 150 km away and really shouldnt have much but we know how this goes. This should happen during or near the end of the bulk sample and should allow for about 80k OPY if they have the grades and a 2nd ramp shot off the 1st one (Few Million extra$ expense) (Catalyst 3) I think this gets us to .25 cents
Elections coming this summer in Ontario. Nuclear option is to go to the local Newspapers to put pressure on the Mining Authorities, to explain why they are not helping to create jobs and economy for the city of Timmins
At some point, once they get production rolling, look for them to push for bumping the resource to 3 Million oz, so as to set up for the 150 K yearly production and emerging mid tier status.
IMO these catalysts are nearly eminent and therefore GWA is one of the best risk reward vehicles out there for short term. Todays low price allows one to add cheap shares.
Checkmate28 JMHO
Saprolities. The relationship was stressed at time of first extension, as CGM was officially late June 30
Given Press release
DNI METALS INC. (DNI : CSE) (DG7N : Frankfurt) (DMNKF:OTC)
FOR RELEASE – March 27, 2017
DNI Metals Completes DA with Cougar Metals – Drilling to start – Saprolite
Graphite Advantage.
Toronto, Ontario - (Newsfile Corp. – March 27, 2017) DNI Metals Inc. (DNI: CSE) ("DNI"
or the "Company")
DNI is pleased to announce the following:
1. The Definitive Agreement “DA” was finalized and signed on Friday March 24,
2017 with Cougar Metals (CGM:ASX) in which Cougar can earn into 50% of
DNI’s Madagascar Graphite Project.
2. Cougar has completed a financing in which it has sufficient funds to complete the
earn-in.
3. NI 43-101 Resource Report must be completed by June 30, 2017
4. NI 43-101 PEA (Preliminary Economic Assessment) must be completed by
October 31, 2017.
5. A$200,000 to be paid to DNI by March 31, 2017
6. U$150,000 to be paid to DNI by June 7, 2017, unless Cougar has withdrawn
from the agreement by April 12, 2017.
7. One of Cougar’s eight drills has arrived in Madagascar, and should be on the
property within a week.
8. Cougar must drill a minimum of 3,000m to a maximum depth of 50m, and
additionally complete 1,000m of trenching.
Saprolities quote. CGM had only been drilling for two and a half months at that point in time and you are suggesting CGM initiated that article? That’s nonsensical.
Fact: CGM agreed to 3000M drilling and a Resource report in 95 days. At 2.5 mths you mentioned, drilling should have been nearly done. Randal said the rig was running 55 meters/day. 55 m x 95 = 5225 Meters. CGM wasen't even in the ball park. After 270 days CGM had only had 1700 meters drilled then. CGM had plenty of reasons to start looking for alibi's since they weren't producing. As to permits, Ive been consistently saying DNI was granted the PE at or near time of property sale, with the requirements of the EIS signoff by the officials, before they can produce. As we know, thats on its way.
CGM hurt both companies by not doing its job. In my lines of work, when someone doesn't do their job, they are a liability and need to be eliminated. In the real world thats how contracts and agreements work. CGM signed a contract and didn't produce. If there were problems, they should have taken steps, sent help, acted like a team player and solved some problems. Randal should have been on a plane to Maddi. This goes to arbitration and CGM loses big. Costs on both sides, and maybe no settlement whatsoever. Id vote for an agreement if it was reasonable as Id like to stop posting on this rubbage LOL.
As to the catalysts you've mentioned, Id like an update and some progress as well. Thanks for postings the share price catalysts.
• 2,320 metric ton graphite delivery to the USA that was due in Dec 2017.
• (“EIE” & “CSR”) Environmental impact and social responsibility studies and obligations.
• Commissioning of DNI’s processing plant
• Results from the 28 ton bulk sample delivered to India in January 2018.
Theres sure to be some we missed.
Looks like Saprolities talked to Randal and decided it was not a good idea to answer my questions.
Theses are good questions. Cougar lovers have good reason not to answer, as any answer they come up with, either implicates Randal or should Saprolities agree with Randals statement, that the one RC drill, one driller and no on site management should have been sufficient to satisfy the contract, he will then sound as bad as Randal. I dont think Saprolities wants to sound as bad as Randal.
Looks like Saprolities talked to Randal and decided it was not a good idea to answer my questions.
Theses are good questions. Cougar lovers have good reason not to answer, as any answer they come up with, either implicates Randal or should Saprolities agree with Randals statement, that the one RC drill, one driller and no on site management should have been sufficient to satisfy the contract, he will then sound as bad as Randal. I dont think Saprolities wants to sound as bad as Randal.
saprolities If there is one thing that rings loudly about your reason for being here, it is your intent to hurt DNI. Your unwillingness to answer questions about how CGM's actions and mis actions, may have affected the business relationship speaks to us. You see, when one avoids the issues from one side, and exaggerates the issues from the other side, so as to suit only his purpose, he loses his credibility and ability to have any affect on others.
Saprolities we are seeing right through to your poor character. CGM CEO Randal Swick refuses to accept any responsibility and looks only to be here, to cause doubts and deception as well. Since you collectively as a group are trying so hard to hurt DNI, you can see where we would have doubts about anything you say, and why we might even think you as a group, had something to do with Mining Watch, the Sumofus bogus piece, the and possibly the sabotaging of the bull dozer.
Again Ill ask, Since you say you are a CGM shareholder, are you happy with the fact that, CGM claims things were difficult, yet they relied on just one driller, and one RC drill, to protect their interest, whereas they had agreed and were responsible to run, manage and work the project to specifications in the contract?
Do you think in light of these alleged difficulties that CGM claimed, they should have sent another employee and that Management (Randal Swick) should have taken a trip to the property?
DNI CEO Dan Weir was there for at least 10 days per month. In your opinion, why didn't, or why couldn't Randal come to the site for even one day? Are you happy with this? For me, it Speaks volumes, as to the importance he gave this project, and to his credibility when claiming he acted responsibly?
Checkmate28
Saprolities, You said I’m referring to the court actions between the Landowners and DNI, however, it’s not quite as simple as you make it sound and it’s not over yet. The case has been ongoing since Dec and is now, I believe, in the Court of Appeals. I would have thought DNI would be required to disclose that information to shareholders in their last three Form 7’s.
Do You have some more info on that, because I believe the appeal was heard in February and sided with DNI ?
As to disclosure to an event like this? Its not important to me. Let me explain.
On a site visit, Id spoken with some locals and have seen the job DNI did at the property. Im satisfied DNI is listening, with intentions to fully work and cooperate with the local peoples and officials. Locals seem happy to have a company, that will provide them with many good jobs and $ to provide improvements in the economy and to the standard of living for the whole village. DNI has already provided them running water wells and roads for their use to get themselves and their large animals from the bush to the river or town road. Now as always, there might be someone not happy, an opportunist looking for something not deserved, but I believe in this case, the people who are complaining are not the locals who own the land, but rather persons outside the immediate area. Can you confirm different?
Also any mining company in Canada who has an issue with locals or distant first nations is not publicly disclosing every issue?
Since you say you are a CGM shareholder, are you happy with the fact that CGM, claims things were difficult, yet they relied on just one driller, and one RC drill, to protect their interest, where they had agreed and were responsible to run, manage and work the project?
Do you think in light of these alleged difficulties that CGM claimed, they should have sent another employee and that Management (Randal Swick) should have taken a trip to the property?
DNI CEO Dan Weir was there for at least 10 days per month. In your opinion, why didn't, or why couldn't Randal come to the site for even one day? Are you happy with this? For me, it Speaks volumes, as to the importance he gave this project, and to his credibility when claiming he acted responsibly?
Saprolities I hope you can answer these questions because I am having trouble understanding CGM's expectations in light of these facts.
I do however understand why you and Randal would be trying to protect your investment and get all you can, but the motives appear selfish in nature.
Checkmate28 JMHO
Sapper I have no idea what you are talking about. I did searches and didnt come up with anything. The earlier Miningwatch info of unfair practices towards land owners was heard by the court and they found no wrong doing from DNI.
My opinion there was, just as the USA and CA has ambulance chasers looking to make a buck, there are always people looking to squeeze unearned and undeserved dollars from anywhere they can get them. NPO's and Madi newspapers can be paid or influenced to write any story.
Please tell us, What non disclosed info is there that we should be concerned about?
Please tell us, what are your motivations to be here spending so much time to tear down DNI?
Are you a DNI shareholder?
Are you a looking to be a DNI shareholder?
Are you a CGM shareholder?
Are you here to protect innocent persons?
Please dont forget the last questions
Checkmate28
Sapper Yes I stand by my previous opinion. Nothing has changed. I believe Mining watch Tany and Sumofus are all selfishly looking to help themselves.
This the news your talking about?
https://the-sumofus.pissedconsumer.com/sumofus-donation-scam-20140421483747.html
The company position is that there are no disgruntled landowners on the properties that DNI is working on
My position after having walked the property and spent some days with the locals at Vohitsara is that they are extremely appreciative of the way DNI is improving their way of life in the areas. There may have been some things DNI inicially wronged but when allerted to the problem, they solved the issue.
DNI drilled them a water well,
built them a road that they now use to bring their animals from the bush down to the town or river.
DNI built them a state of the art soccer field sod and all and provided real soccer balls
DNI spoke with important locals about wanting to help develop their school up thru the high school level and to help with a medical facility.
As far as I know, they planted 2 trees for everyone they hurt.
The locals there are kind and poor. They are looking forward to the work and growth of their local economy that DNI will help them with.
Apouse Sap is correct, Madi is not issuing any new permits.
They are however, working with the current permitted companys. DNI currently has the PE mining permit that allows them commercial production after they get their final Environmental study approved. The mining commission, is currently working on getting this approved at which point DNI can commercially mine and sell graphite. Without the PE permit, they would not have been able to explore, dig and drill the property and would have been shut down a long time ago.
Randal and his pack have been out here twisting words so as to create fear and to hurt DNI. I also believe, he has something to do with the other issues brought up out side, Mining Watch BumsRus site (DID I SPELL THAT RIGHT?)
All IMHO Checkmate28
BryanC Well said in short words
BryanC Note to Randal, I have been an Engineer for over 35 years. If I do not finish my requirements of the project on time, for whatever reason, I am the one who is in "trouble", not the client (or partner). I am the one who may get laid off or lose follow-on work. The client (or partner) does not care why I did not finish, even if the cause was beyond my control. I have to take action to reduce my risk, mainly by working aggressively early in the program, expecting that unforeseen events may delay my progress.
Randal just quoted in last post What more can I say Checkmate? Well Randal, you can say this, "I should have taken action to reduce my risk, mainly by working aggressively early in the program, expecting that unforeseen events may delay my progress. When the unforeseen events showed up, I should have been proactive and sent more help and resources. More importantly I should have showed up myself at the 1st sign of trouble, to access, manage and make the necessary decisions to mitigate the risk of being late"
Randal? Taking responsibility would get you a standing ovation and much respect from us here as well as your currently share holders at Cougar
Still don't understand why you would leave this much responsibility on your one driller?
Checkmate28 JMHO
Mr Swick You claim you agree with Andrew Scoggins, but obviously its a selective agreement.
Lets try this again. Graphite exploration – the importance
of planning Author Andrew Scogings, Industrial Minerals Consultant*, looks at the different exploration and
testing methods and reporting conventions used by the graphite industry
(RC) = Reverse Circulation DD = diamond core drilling
Scoggins Quotes
RC is a type of percussion drilling that uses
a hammer to pulverise the rock into powder
and chips, which are brought to the surface by
compressed air RC is a useful way of infill drilling between DD section lines to
demonstrate geological and grade continuity, as it is quicker and less costly than DD. DD is however the preferred method of exploration drilling for graphite.
Inferred Mineral Resources represent material that is considered too speculative to be included in economic evaluations. SO how do you form a Preliminary Economic assessment without any flake size distribution. The different flake sizes fetch different $/tn. Without that your in the dark and its a given that the RC drill pulverizes the flakes like Skoggins said.
As to your claim that DNI have never claimed that aircore drilling was inadequate
Reference PR
https://webfiles.thecse.com/2017-12-01_-_PR-_Cougar_Metals_Default.pdf
In July 2017, DNI’s board ascertained, that Cougar’s R/C drilling rig, would not provide proper samples to determine the flake size distribution of the graphite. DNI brought in and paid for 1,040 meters of Diamond
core drilling, which was completed in 60 days, to determine the flake size distribution, and to provide a better evaluation of the property.
Randal Quote
In regards to available days to drill I just highlighted two of the categories of days we were unable to drill due to conditions beyond our control. Again I don't see what point you are trying to make in respect of the dispute that exists between DNI and Cougar.
My point is From March 24th to the Dec 1 default date, there was 253 days to drill. Your company only managed 1700 Meters drilling in those 253 days when you promised 3000 Meters and a full NI 43-101 resource report in 90 days. You then made excuses after you were defaulted on and blamed DNI after the fact.
Randal, Lets clear the air about that RC drill. Everyone else I urge you to chug through these papers from Skogins. Go to the links and read the articles Learn baby learn.
Given: Dr Andrew Scogings Bio
PhD (Geology), MAIG, MAusIMM, RPGeo (Industrial Minerals)
Dr Scogings is a geologist with more than 25 years’ experience in industrial minerals exploration, product development and sales management. Andrew has published papers on reporting requirements of the JORC Code 2012, with specific reference to Table 1 and Clauses 18 and 19 (industrial mineral Exploration Results) and Clause 49 (industrial mineral specifications). He has published numerous articles on industrial minerals in Industrial Minerals Magazine, SEG Mining News, AIG News and AIG Journal amongst others, addressing aspects of QA/QC, bulk density methods and petrography for industrial minerals exploration. He was recently senior author of two significant reviews: Natural Graphite Report – strategic outlook to 2020 and Drilling grade barite - Supply, Demand & Markets published in 2015 by Industrial Minerals Research (UK), and has co-authored several papers ranking global graphite exploration projects. Andrew is a Registered Professional Geoscientist (RP Geo. Industrial Minerals) with the Australian Institute of Geoscientists.
Now I think its clear, Dr Andrew Scogings knows his Industrial metals and reporting requirements as good or better than anyone.
------------------------------------
Definition for those not familiar with JORC Code 2012
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ('the JORC Code') is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.
Reference This bulletin by Skogings on Industrial Mineral (aka graphite) resource estimation. Its really a good read.
www.klipstone.com.au/wp-content/uploads/Public-reporting-of_Aus_IMMBulletin_Jun2014.pdf
Page 2 offers the following text JORC 2012 Clause states that Industrial mineral resources and reserves must be reported in terms of mineral specifications. This is mandatory!!
Page 3 #4 offers the following text
Public Reporting of Industrial minerals Resources according to JORC 2012
Industrial mineral performance or size classification can be effected by the drilling method used, something that is not always recognized by industrial minerals explorers ( Randal Swick comes to mind) he goes on to say Similarly reverse cycle drilling will very likely result in reduced flake size of minerals such as graphite, or in changed aspect ratio of acicular wollastonite, resulting from communication by the hammer action drill bit. Based on the authors experience, RC drilling may reduce the average size and population distribution of mineral flakes significantly compared with DD diamond core drilling as illustrated in Fig 2
Skogings also states when not statings the specifications correctly, you run the risk of being seen as misleading to investors and regulators.[color=red][/color]
---------------------------------------------
EVERYONE SHOULD READ THIS. ITS AN EXCELLENT PIECE and should give you confidence that DNI was in the right to expect the Core drill.
http://www.csaglobal.com/wp-content/uploads/2016/01/Graphite-Exploration-The-importance-of-Planning-p-42-26-Andrew-Scogings-Industrial-Minerals-Dec-2015.pdf
RC = Reverse Core DC = Diamond Core
RC is a type of percussion drilling that uses a hammer to pulverize the rock into powder and chips, which are brought to the surface by compressed air (Figure 3). RC is a useful way of infill drilling between Diamond Core section lines to demonstrate geological and grade continuity, as it is quicker and less costly than Diamond core DD is however the preferred method of exploration drilling for graphite, as the graphite flakes and host rock are relatively undisturbed when retrieved as core...... Randal you have it backwards. Scogings says use the Diamond Core to explore, then the RC to infill. This is why DNI had to bring in and pay for the RC drill, since CGM would now, even under advisement from DNI. Im sure you also know DNI had advisors on the ground informing them as to what was needed to get the job done properly.
Randal, you asked for documents. This one was your requirement for the earn in.
iv. The Program shall be conducted in such a way as to not unreasonably hinder future development of the Property and shall be based on sound mining practice and other applicable industry standards and practices and in material compliance with the terms of all applicable permits and laws. Randal thats a requirement you failed to meet. Drilling with the RC drill qualifys as hindering future development as I see it. Also as Skogings notes doing it wrong is misleading to investors and regulators
Randal More good stuff for you to learn.
http://www.klipstone.com.au/wp-content/uploads/Reporting-industrial-minerals-IM-Website-20160607.pdf
Avoid regulatory hiccups – review your public statements Andrew Scogings* and Ivy Chen* outline reporting according to the JORC code. Industrial minerals such as graphite, and more recently lithium minerals, have become the focus of attention for listed exploration and mining companies, mainly due to developments in rechargeable battery technologies related to the emerging electric vehicle market. Consequently the race has been on to acquire tenure, report larger exploration targets and resources and to tell the market why one project has merits above and beyond a competitor. Additionally, the competition for scarce investment dollars across the entire resources sector has inspired innovative exploration approaches, as well as creative ways to tell the story of exploration success. The requirements for public reporting however remain clear, and adherence to the JORC Code is essential. Misunderstandings of the application of the JORC Code and its interaction with corporations’ law have led to recent issues with public reporting by industrial minerals companies. Industrial mineral resources or ore reserves must be reported in terms of mineral specifications; it is not only about tonnes and grade. Further ramifications apply to the classification of mineral resources and for the application of modifying factors during technical and economic studies
Randal Im including a copy of your Bios. Im sure your an accomplished driller, but when it comes to graphite, your bios pales when set next to Skogins.
Randal Swick, Managing Director
Randal Swick is a mechanical engineer with 25 years experience in the mining industry with a focus on gold and nickel exploration. And nickel exploration. He was a founding director of Swick Mining Services. Randal brings considerable knowledge gained from experience as a drilling contractor and from his first hand involvement in the management and operation of several private companies involved in exploration and mining throughout Western Australia, Uruguay and Brazil in both the surface and and underground environments.
I dont see anything about Graphite mining specialist here.
Checkmate28 JMHO
Since you asked my relationship to DNI. Im a share holder who doesn't like someone misrepresenting my investment company.
Randal Your exact words
RS Quote
In respect of your claim that we should have sent more rigs and drillers, you are completely off base. The driller was a seasoned operator capable of running a multi rig program. He was a senior man in our group and more than capable of completing the work within the timeframe. The rig was producing up to 120m per shift but would typically drill an average of 50 or 60 metres due to the difficulty in moving around the area. The issue was not the number of rigs but the number of available days to drill and part of the arbitration proceedings between Cougar and DNI revolve around this issue. Cougar claims that many days were lost due to matters beyond its control, including 42 days when we were told to stand down while DNI negotiated with landholders and 28 days in October when our driller was removed from site by the police following a complaint by DNI, accusing him by name, of illegal conduct.
You were there 240 days. Your complaining you couldnt work 70 of those. If we take your word, you still had the rest of the days for your driller to get 3000 meters drilled where you say your driller was averaging 55Meters/ day. Things arn't adding up.
DNI press release dated March 27 2017 mentioned the
9. The Saprolitic advantage of DNI’s graphite project, will simplify drilling for Cougar’s experienced team. Cougar completed a drill program of a Saprolitic graphite deposit in Brazil, in 2015/2016.
Obviously you knew things were not going timely since your numbers were way down from the beginning. Its there where you should have protected your interest and sent help, and made the trip yourself to see first hand and make the adjustments. It there where you could have brought up and documented any issues but you chose to leave it all up to your one driller. Instead, after a default 7 months later, we hear you blaming DNI.
Im going with one driller was not enough and things are just not adding up.
Checkmate28
Randal Swick CEO of Cougar Metals First some given facts.
DNI owns the property 100% with historical drilling and a full PE mining permit outright. Dan Weir was already with track record of selling wholesale graphite and working on off take agreements to help move the DNI graphite. DNI gave Cougar an option to earn in 50% of all that.
DNI METALS INC. (DNI : CSE)(DMNKF : OTC)
FOR RELEASE – December 1, 2017
In order to maintain the Working Right and Earn-In in good standing Cougar was required to, in addition to payments referred to above:
i. Design, fund, manage and present to DNI a NI 43-101 compliant mineral resource report covering a per-selected area of the project measuring approximately 300m x 900m by June 30, 2017 Randal, one of your super drillers was supposed to do all this?
ii. Complete a NI 43-101 compliant PEA using the parameters of 10,000 TPA graphite production from the Property by October 31, 2017;
iii. The mineral resource report and the PEA shall include a minimum of 3,000m of drilling to a maximum of 50m and 1,000m of surface trenching; and
iv. The Program shall be conducted in such a way as to not unreasonably hinder future development of the Property and shall be based on sound mining practice and other applicable industry standards and practices and in material compliance with the terms of all applicable permits and laws. Randal Drilling with the RC drill qualifys as hindering future development as I see it.
Randal, You agreed to Design fund and manage the project, including 3000M drilling and NI43-101 Resource by June30. Since DNI brought the project, it was entirely your responsibility to manage and pay for the project.
See Below PR
https://webfiles.thecse.com/2017-03-27_-_PR_-DA_Cougar_Revised.pdf
Exert 9. The Saprolitic advantage of DNI’s graphite project, will simplify drilling for Cougar’s experienced team. Cougar completed a drill program of a Saprolitic graphite deposit in Brazil, in 2015/2016. Randal, this comes from a press release that you approved. It speaks of Cougars team and nothing about your one experiecced super driller that can run the whole show and 2 drills at the same time. Its obvious, you needed a team to fulfill your obligations
You originally agreed to a time frame of just over 3 months for 3000 meters and a resource report by June 30 2017. Your one driller only managed 1700 meters, barely half the drilling you agreed to. After extensions to 7 Months time, your one super driller only drilled 1700m and produced on NI43101 report as promised? This blows my mind that you would stand by your words that your one driller should have gotten all this done and because he didn't somehow its all DNIs fault.
Checkmate28
Randal Randal Randal Your making excuses again. But I'll say, you sure can make them sound good.
Your claim The driller was a seasoned operator capable of running a multi rig program. He was a senior man in our group and more than capable of completing the work within the timeframe. The rig was producing up to 120m per shift but would typically drill an average of 50 or 60 metres due to the difficulty in moving around the area. The issue was not the number of rigs but the number of available days to drill and part of the arbitration proceedings between Cougar and DNI revolve around this issue. Cougar claims that many days were lost due to matters beyond its control, including 42 days when we were told to stand down while DNI negotiated with landholders and 28 days in October when our driller was removed from site by the police following a complaint by DNI, accusing him by name, of illegal conduct.
Now lets check your math.
Given:
Cougar was there 271 days
Ill give you the 55m/day avg you claimed.
You claimed 70 days that you could not work due to stand down and jail time
That still leaves 201 Cougar working days on the property.
201 days x 55m = 11,055 meters
Randal, Things just arn't adding up. Your driller drilled only 1700 meters in the 201 work days you claimed ? Thats less than 9 meters/day. With so much at stake, you should have sent a better driller or another one, run a second shift or somethig. Even more important, it things were going that bad, you should have been on a plane yourself and brought a post hole digger if you had to.
The thing is Randal, you didn't operate very professionally and you took things for granted.
Checkmate28
Randal, Your right, the official position of DNI is the one that matters
Here it is. If you read the boldened text, it should be clear as water. Now since the BCMM has it listed in transformation, and as Ive mentioned before Floridas statement that its in the ‘transfer process’ awaiting final approvals is my position as well.
TORONTO, ON / ACCESSWIRE / March 16, 2017 / DNI Metals Inc. (CSE:DNI) (FSE: DG7N) (OTC PINK: DMNKF) ("DNI" or the "Company").
DNI Metals Inc. "DNI" has a commercial Mining Permit ("Permis de Exploitation" or "PE") over its Vohitsara graphite project in Madagascar. Originally an artisanal mining permit ('PRE') at the time of the transaction, the Mining permit was granted by the Madagascar Minister for Mines through the national mining cadastre office ("Bureau du Cadastre Minier de Madagascar" or "BCMM").
The BCMM is the government agency responsible for administrative oversight of all mining tenements in Madagascar.
The obtaining of a commercial PE marked a significant milestone for DNI in Madagascar, as it allows DNI to move to commercial production at its option, subject to completion / fulfillment of the requisite environmental impact and social responsibility ("EIE" & "CSR") studies and obligations.
Neither of these requirements are onerous and DNI will be moving to fulfill these requirements concurrent with its upcoming fast-track exploration and development programme for the Vohitsara Project.
DNI's Mining ('PE') Permit has a term of 40 years and is renewable. The following table sets out the license types in Madagascar.
--------------------------------------
Your team bringing up the companies Risk Factors really comes off as a desperate move since 99% of investors know the purpose of the Risk Factors is to warn unknowing investors that you could lose your money. We all know how that works. But having said that the Risk Factors are in line with what the company states in the Press release.
IMO, Bottom line here, is that DNI will soon have their environmental study approved and they will build a plant and be producing this year.
How come no one has ever answered why Cougar only sent one drill and one driller to do a job that required more?
Why did you not have enough insight to see, the job required more, and your short fall of work and progress was going to put you out of contract? What you could have gained would have been worth a dozen employees and 6 drills yes?
Why did CGM not send any management if there were things not going well as they have claimed?
These are a couple questions Cougar is guaranteed to be asked in arbitration?
This is like taking a college class and showing up for 5 minutes each class and blaming the teacher for failing you when you couldn't pass the tests.
Checkmate28 JMHO
Randal, I though your boiler room operation was a little smarter than that.
As to your 1st point on the stock price. Stocks go up and down. People sell stocks for a lot of reasons. Somebody sold some shares on Friday is all. Trust me DNI is a good value and should be only going up in share price as they progress. I also know you will have nothing good to say if the share price goes up a couple pennies. You are only here to be negative and destroy the value of DNI shares.
I’d say this. Providing the other partner had completed the drilling etc on time …. DNI would be exactly where they are now minus the arbitration and the sp would probably be at least twice the price it currently is.
Yes exactly my thoughts. CGM has stunk up the sentiment as there is an overhang of fear as outsiders try to calculate how this will end.
I do wonder what the urgency was to cancel CGM’s agreement in the first place though. Dan must have had compelling reasons to do so, knowing the negative effect it may have on shareholder wealth. One possibility is that he may have expected CGM to just go away and not fight as they have chosen to do.
Now that comment makes no sense at all. DNI gave CGM multiple extensions to the tune of 5 months and only provided one drill and driller. DNI had to move forward on their own or not move forward at all. There was no way to work forward at all. CGM is just making more and more excuses.
As to the settlement. I think CGM has the cards. Im sure DNI would settle and move on if they thought you weren't trying to get something for free. Its really simple. Offer them something reasonable and they will probably accept. I can tell you this, YOUR BARGAINING POWER, IS TO SETTLE WHILE YOU ARE HAVING AN EFFECT ON THE SHARE PRICE, THEREBY HURTING DNI PROGRESS. WE KNOW WHATS GOING TO HAPPEN IN ARBITRATION AND YOU DONT WANT TO GO THERE. YOU NEED TO SETTLE WHILE YOU CAN HELP, BEFORE ITS TO LATE. ONCE THINGS ARE LAUNCHED FOR DNI, THERE WILL BE MUCH LESS NEED TO SETTLE AND WE THE SHAREHOLDERS ARE GOING TO VOTE TO BBQ COUGAR METALS AND RS.
Checkmate28 JMHO
Sapro, that was one shareholder unloading today that's all. If anything, I think sentiment is leaning towards DNI having the PE but waiting for the environmental statement to be approved. The 500 page report has been turned in months ago. Was supposed to be done by end of year 2017 so should be right around the corner. Elections are right around the corner. government's going to want to look like there getting something done. DNI going to provide a lot of jobs and help the economy.
As to a settlement before arbitration, I think it's better for both companies as well. Both could save some legal fees.
I think it's worth a couple hundred thousand dollars for DNI so as to free Dan up to move forward. CGM didn't fulfill their contractual obligations plain and simple. I think it's about a 98% chance CGM gets nothing in arbitration and it's a given DNI does have the PE license. No matter what I hear, or how I think it out, CGM could have done a better job and should have done a better job. Had they came in with a couple drills and a couple extra guys, they could have cranked it out and we'd be working together going forward. Instead they slowed things down and bogged everything down with all this BS. You have to wonder, where would DNI be if they had a different drilling partner?
My two cents checkmate 28
This from the Doctor on the NEXT board. Thought it could easily pertain to us so I copied and pasted.
The Doctor
Double down kids. Posco-Samsung is coming.
On February 1 it was predicted Posco-Samsung will be buying into us in April. click here for Feb 1 post.
Cobalt + Lithium + GraphiteSuperFlake® = Superior batteries.
Posco-Samsung is locking up a cobalt source. Ckick here
Posco-Samsung is locking up more cobalt. click here.
Posco-Samsung is locking up a primo-lithium source. click here.
Posco-Samsung clearly needs to lock up a large-flake graphite source next... and money appears to be no obstacle.
It's almost time for Santa Claus to drive up in his brand new electric KIA right into our graphite house.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139256121
The Doctor said
Soooooo... the only resource Posco needs next is just the purest largest flake graphite source in the world in order to properly service Samsung's newly revised ultra high(er) quality standards in battery making plus permanently lock in its ever-increasing role with many of the South Korean/China electric vehicle manufacturers.
Great post BTW. I agree. Posco is ripe to choose a graphite source. couple questions for you.
Why would POSCO even negotiate with a company that doesn't have the PE Licence to mine? They would be at great risk to sign anything without a licence dont you think?
The Madagascar BCCM site shows that NEXT doesnt even have a current permit to explore for graphite.
How would NEXT get the product to port if they did have a permit? Next is 180 km to a port and many unpaved roads.
Posco may be coming to Madagascar for graphite, but its my bet that they will look past NEXT and go next door to that other Madi graphite company. DNI metals Vohitsara project has been screaming progress lately. They have the PE licence, are on a paved road only 45 km from a port, plus just drilled 20 meters of 10% graphite in loose dirt, and its all mostly high quality flake. DNI already has a binding offtake with Korea Graphite and has shipped many tonnes to India. Looks like a better option to me and NEXT will have to wait until next time.
Yes Ill place my bet
Great Traderfan, thanks for the words. Was surprised you went for that story. I figured youd just be shocked after the truth comes out.
Randal must have given a strong 1st impression. Glad you did your DD. Were going to Disney Land in another 6 mths.
You have mail else where
BryanC Yes worst case. DNI investors could choke that down and still support the company in light of what is going on.
If Cougar goes to Arbitration,
Missed contratual timing by many months and still never finished.
Missed contractual payments.
Lets talk worst case for Cougar.
Whoever loses probably pays both sides of the legal. est $400 K
Penalty's to DNI
I don't see Cougar shareholders still supporting the company after that. What would they get? maybe some more drilling?
Better to take a few dollars while they have the chance.