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Investors should not stand for this kind of hype. Unless they are okay with it and don't care about the dishonesty, in the hopes that it doesn't matter what bullshit is said as long as it results in a run that they can sell into. That might be what's going on.
The cited "Estimated Results" is clearly far from a definitive nor exhaustive account. Let's not pretend that it is or is even meant to be. For conversations sake, I do see some problems that could lead to a wide margin of error if you were to treat it as such. We must understand that we will necessarily not have access to the same information the company does in order to do that though:
One thing that stands out to me is the conversion of grams to ounces instead of troy ounces. The spot price of precious metals is the market's conversion rate per troy ounce. There are approximately 31.1035 grams in a troy ounce. 1,381,830 grams would equal 44,416 troy ounces.
The value of $1382.00 per ounce is stated as a "portion of the potential values." This implies there might be higher possible values, but does not provide a basis for the chosen value. For calculations sake, market fluctuations and metal purity levels have already seriously affected this value, and gold is clearly not the only metal present in any of their concentrations. Recovered Ounces = 44,416 × 0.80 = 35,533 ounces. Total Value = 35,533 ounces × 1382.00 dollars/ounce = 49,111,906 dollars. A small difference, perhaps.
The aforementioned problems are not what concern me as an investor. The margin of error between $49million and $53million for 6 months of work (set to expand) is nominal. What will interest me most are calculations confirming previous projections of the stockpiles grade, and a break down of all in sustaining costs of running this operation, in order to arrive at a projected long term value of the project. We don't know how much stockpiled ore it took to create this amount of product, nor do we have a break down of costs to know how much profit will be available for the company and shareholders.
That all being said, I appreciate the preview from SDRC but realize that every one of these numbers can and probably will change.
Revenues before reserves.
I think those 3 words answer all of those questions.
Filtering through the flagrant remarks and assumptions of failure,
I do think your suggestions are reasonable. The PGM's should be presented as is.... In original sample amount, raw ore grade; Not concentrated amount because there's plausible deniability that the math could be wrong or fudged. This is one of the situations where it will be worth presenting with accredited opinion, and a brief report for context.
REE should be presented as-is as well, but as-is only... especially if they are not prepared to pursue what they could reasonably concur to be an economical resource of REE (or the possibility thereof.) Those detected are merely at or near XRF threshold levels as far as presented so far. Unless they have new undisclosed information about these proving otherwise, I doubt they will be pursued as a resource. The fact that Sean has pointed out XRF readings of REE may be somewhat of a "red flag" but probably not a malignant one as if it necessarily means outright fraud. Like you said, REE's are relatively common and exist almost ubiquitously in at or near detectability thresholds. He didn't lie, though he did get excited about it, and did expect others to as well. Perhaps it is amateurish at best... and some may insist this judgement isn't one to be made by a qualified CEO. My personal preference would be to remain reserved and prudent with these things as well. I think its forgivable, but look forward to them presenting some more definitive findings when appropriate.
Sean's last tweet was very telling, and does answer some, if not all questions about what the company's plans are with any new discoveries. I don't think they realized how groundbreaking it is to have such a problem of PGM's in their stockpiles at the time they first disclosed it. I think they are realizing a bit too late how much more calculated, strategic, and prudent it will be appropriate to be with the cards that are in their hand. We agree that the prize is big if they can substantiate some of the claims being thrown around so far, and will work to secure their interests before doing so lest it provoke competitors.
I am working on buying property regionally for the corporation and creating partnerships with other properties that are controlled by other groups. This is a control play. It takes time. The data is fantastic. I will publish it as soon as I am able. Strategically, I have already shared more than I want but I want the shareholders to know why I have not published the amazing assays.
I believe that's exactly what they have done and they are working to secure their position in the district as we speak and before a more full or substantial disclosure of their work pertaining to this discovery.
I think that's reasonable.
REE may not be pursued beyond the detectable levels of XRF.
In anything other than a concentrated form, I don't see how PGM's wouldn't be found in anything that isn't an amount measured in ppm. It remains to be seen if anything beyond the gold and silver (or even the gold and silver for that matter) can or will be proven to be of an economic / commercial grade resource any time soon given the grass roots financed / non dilutive / pre-revenues financial position of the company.
I do expect circumstances to change in the coming years however with a history of gold sales behind them. At that point, the company will pursue bankability of their assets and perhaps formal feasibility studies and reserves will be established at that time.
So all they have to do is prove PGMs & REE's?
Is that all they have to do to attain credibility and legitimacy in your eyes? Something tells me that even after that's done you'd still be here talking the same tone.
What "facts" would you need to ignore?
Please take your time and provide an exhaustive list.
Gitreal, grasping at straws for no reason.
I know you have enough criticisms that could make a Barrick or Newmont look like a dumpsterfire. You make it seem like you are the only person here to have done due diligence on the company, which is not true at all. Astroturf is all that is. Quite a few people who still follow the company since Bill Brown's days are well past posting here for its now very predictable toxicity. All the research you ever do is for the purpose of validation of your underlying thesis: a mining stock on OTC = scam, necessarily.
Everybody knows, the odds of any stock promoted on OTC failing are most certainly in your favor. It's most unimpressive to take your side. Compounding this, you focus on mining. Look at the success rate of early stage mining projects as a group: dismal! Look at the size and stage of the companies being predated upon: Mom and Pop shops and startups have vastly higher failure rate than well-banked corporations. Yes, OTC has a lower barrier of entry as far as reporting and listing requirements (which is actually becoming stricter), and companies list here despite the OTC's baggage of the past, shitty reputation, and the predatory market-making that comes along with it.... its a business, and plays a necessary role in our economy, and is a necessary source of capital for some companies, some who have gone on to do very good and important things in our world. I say we embrace it and work towards an infrastructure in OTC that ensures legitimacy. I appreciate that you guys have found your own little way of doing that, but me and my investor peers have ours too.
The truth is, SDRC is a legit business undergoing staggering growth in one of the toughest industries on the planet. They are going outside the typical modes of finance, industry standards, and de-risking protocols to do so despite being called "insane" by so called experts. OTC is a startup environment and this is a startup, pre-revenues. Incentivisation structure is key, and we have one oriented strongly towards shareholders. No hot shot management, no big salaries, no flamboyant marketing, no unduly frivolous exploration campaigns. We are witnessing a creatively engineered attempt to preserve shareholder value, while they use their non-toxically financed means to build the foundations for future success, self-funded.
Some of the things you knock the company for are actually good things. You're not looking at things like a growth investor. Again, you're just trying to prove your underlying thesis, and spend so much time and emotion on your precious thought leadership on Ihub of all places, for what? The luls? You've never provided any suitable comparables in insisting that SDRC is bad investment. You have never said anything good about any company like its some sort of rule. You have made it clear that you are not a trader or investor yourself. This hobby you have of populating investment discussion boards with your perspective is remarkable to say the least.
Try assuming SDRC is legit and they could benefit from your constructive criticism. They are climbing quite a steep learning curve going from where they were just a few years ago so quickly. It's quite a balancing act, being so grass-roots transparent and engaging with shareholders about their process and problemsolving while also trying to be strategic and playing that multi-layered chess game we know they are.
This morning's tweet from CEO Sean:
https://x.com/seanraezalewski/status/1815756380202049955?s=46&t=-3SMZVvPu_o9A1sKRFwAMg
Sean-Rae Zalewski @SeanRaeZalewski
A lot of people are asking why we have not published these assays yet.
It is simple. I am working on buying property regionally for the corporation and creating partnerships with other properties that are controlled by other groups.
This is a control play. It takes time. The data is fantastic. I will publish it as soon as I am able. Strategically, I have already shared more than I want but I want the shareholders to know why I have not published the amazing assays.
Cheers,
We are all going to win.
Sean - CEO $SDRC
Dobson on discovery of enormous dome-shaped anomaly:
Dan Hally:
I'm Dan Hally, here with Steve Dobson, our geologist, taking a look at some unique geology. In a second, I'll have Steve explain what we're looking at. One of the things we love about Steve is that, as a geologist, he spends a lot of time on the project site, but he also spends almost every evening roaming the hills and the surrounding area to look for evidence to explain the complexity of the ore we're dealing with. So here's everyone's favorite geologist, Steve. All right, Steve, what are we seeing back there?
Steve Dobson:
Well, we're on the east flank of a contact zone that I've been tracing for the last month. What you can see here are these stratified rocks in the foreground. Those are actually Precambrian crystalline basement rocks, and they look like sediments, which is really strange to me. They are stratified and almost look like sedimentary rocks, but they're not. These are crystalline basement rocks, all stratified in a circular arc. In the background, you can see how large an area we've been working on. I'll pan and show what looks like a big bowl or a crater. That would be the west rim, and it comes around to where we are now standing on the east rim. I've traced this out for, oh, I don't know, a 180-degree radius—not all of it, of course. The center is all quartz monzonite porphyry pluton, a big pluton in the middle, rimmed with Precambrian basement rock on the outside that is all laminated like that. Very strange. I can't really explain why it's bedded, why it's laminated, but it is. We're just trying to put little pieces of the puzzle together on a working hypothesis. That's what we're doing, and it's certainly helping to explain and understand why we're seeing what we're seeing and the complexity of the ore.
Dan Hally:
We really appreciate Steve's work. You don't get a lot of geologists who spend the time in the region to really understand it. With Western Frontier, that's the type of quality service we're getting throughout this project. We know this is a complex project, but we're figuring it out. And as always, we like to say we've got gold and a few other things. We're going to go ahead and sign off, but that's a little geology lesson. Right there in front of me, that's the quartz monzonite, and right there is that layered basement rock. Really unusual to see that. Thanks again, Steve. Appreciate it.
Steve Dobson:
You bet. We'll keep working on it.
Dan Hally:
Dan Hally, Sidney Resources, July 11th, 2024. Just a follow-up to what Steve was explaining. So this is the rim that you see, and Steve's been tracing this out. He can find the zones where the quartz monzonite meets up with the stratified basement rocks that look like sedimentary rocks, but they are not. These are basement rocks, forming a big bowl. One of the theories is this may be tied to the Beaverhead impact, suggesting there would have been multiple meteorites that hit, and this being one of the contact zones would explain a lot of what we're seeing, what we're recovering, and what's showing up in assays. It's very interesting but very complex. We're definitely figuring it out. Way in the distance, amongst all of this quartz monzonite, there looks to be a small pocket of limestone, which has no business being up here, but it just fits into the puzzle. That may be a remnant of what was not blasted out by the impact. There's a lot of other material that Steve has seen, showing signs of an impact, and this layering of the basement rocks may very well be explained by compression. We've seen other stratified rocks modified by incredible heat. It's very interesting. That's just a little break from the actual warm project site as we continue to look into the geology and really understand the entire district. Dan Hally, signing off.
https://www.youtube.com/watch?v=QE7TYpvTC4Q
Oh look, XTPT filed an NI43-101 Compliant Report.
a 102 page technical report. Oh golly.
https://www.otcmarkets.com/stock/XTPT/news/Xtra-Energy-Corp-Files-Completed-NI-43-101-Technical-Report-for-the-American-Antimony-Project-near-Eastgate-Nevada?id=447228
lol again with "you must be the IR guy"
🤣
"geologists know better, and have their reputations to consider"
I guarantee you will be reading an in depth company release momentarily on this subject, with their in-house geologists Steve or Guy, or even any one of the metallurgical experts in consult, annotated or quoted directly. They will present their case for the geological backdrop along with a compilation of lab assay results. They will also reveal the reasons why we haven't seen such disclosure already, ie: what they have been waiting for (perhaps land acquisitions.)
You will be wrong about details from time to time but will continue to insist the company is a scam. SDRC will prove some occurrence of PGM's in at least one of their ores, and go on to do all the other things they have promised/planned, and you will still be down our throats scam scam scam everything's a red flag scam. Till the bitter end with you.
You're so arrogant its unsettling.
I can see it now, when SDRC releases the results of their work... You will deflect, change the subject, resort to arguing semantics. Never been wrong in 12 years? Never admitted and/nor convinced is more like it. Ihub is a haven for 2 kinds of people: mentally ill people, and people with a vested interest in the subject matter. ....and you've already made it clear you don't have any investment ideas.
"We have another geologist on board, a guy who is actually a mentor for Steve. I mean, you've got two great people working to solve this problem, and it's not even really a problem, it just takes time."
All company communications (so far) concerning PGM's:
https://twitter.com/SeanRaeZalewski/status/1787508017929322702
Sean-Rae Zalewski
@SeanRaeZalewski
$sdrc @SDRCMINING
#PGM’s #platinumgroupmetals #iridium persistent iridium in ore. Also metallic iron in our ore. It’s a big deal. #IYKYK
https://twitter.com/SeanRaeZalewski/status/1787521989126631701
Sean-Rae Zalewski
@SeanRaeZalewski
$SDRC @SDRCMINING
What does the presence of PGM's in our samples mean? If the data remains consistent with what we are seeing it could increase the value of every ton of ore by 2x or 3x! That is HUGE #mining #PGM #GOLD #REE #SILVER
More to come, much more.
https://twitter.com/SeanRaeZalewski/status/1787508379876815275
Sean-Rae Zalewski
@SeanRaeZalewski
We are definitely dealing with a very complex ore. We believe we have metallic iron because it will not oxidize regardless of what we throw at it. Note the high iridium which makes sense with metallic Fe, elevated levels of nickel and chromium.
https://twitter.com/SeanRaeZalewski/status/1787556622287466558
Sean-Rae Zalewski
@SeanRaeZalewski
Went through all the XRF data from Doc….iridium did show in the ore. So did Osmium and platinum which is what you would need to see. Also elevated levels of Chromium and Nickel which are indicative of a meteorite. Also show several rare earth elements. Thorium, Gallium, Ruthenium, and Yttrium - text from Dan Hally - COO @SDRCMINING
$SDRC let’s goooo!
https://twitter.com/SeanRaeZalewski/status/1787849237868249339
Sean-Rae Zalewski
@SeanRaeZalewski
There seems to be some confusion. The presence of PGM in $SDRC ‘s ore is a definite boon.
The offtake agreements that we are discussing and working on with the groups that will be the buyers recognize the PGM’s, and that will be part of the offtake agreement.
An independent geologist said “He said if the XRF data on the ore is correct, the ore could be worth $45K a ton with the gold, silver, platinum and iridium the XRF indicate are present in the raw ore”
This quote is directly from COO Dan Hally in a email to me.
#gold #PGM #silver #win #invest #goldmining
https://www.otcmarkets.com/otcapi/company/financial-report/402361/content
From SDRC Q1 2024 Quarterly Report:
"We have encountered unusual anomalies occurring in the dore' material and are conducting extensive testing at numerous fire assay labs to determine the exact mineral composition of the material to determine the best course forward in processing and testing the concentrates. During fire assay testing it has been determined that a significant amount of Gold is reporting to the slag and high volumes of silver are reporting to the tailings. The reporting of valuable metals like gold, silver, copper, and iridium in our XRF scans further illustrates the rich potential of our mining operations. We are continuing to test materials to determine the level of any iridium and other platinum group metals that are being identified in the XRF scans. It is our opinion that XRF scan results do not confirm the presence of iridium and other platinum group metals but with this information and other indicators we have observed we believe there is sufficient evidence to warrant further study."
https://twitter.com/SeanRaeZalewski/status/1788194011674562963
Sean-Rae Zalewski
@SeanRaeZalewski
We have discovered / uncovered the associated 6 foot in width and 8 foot in width veins as mentioned in last years PR associated with the new claims and ore pile.
In my opinion, this should be very a very bullish position for our shareholders as it exponentially increases the probable reserves held by the corporation.
$sdrc
As a reminder the previous inferred reserves placed the low range of the assets before this claim in Warren at about $5 B when gold was in the 1800’s. That is based on the USGS data and Goldstone reports from the 80’s and various other geological reports over the last 20 years on the sure.
9000 ft confirmed distance on your property. Peak if the structure is about 1 1/2 feet in width with a lower width of 4ft running over 800 ft deep.
Now add these others and it gets really amazing.
Cheers
https://www.youtube.com/watch?v=970FPNqnMWM
Youtube Video, "Gold & PGMs under the Microscope!"
Dan Hally:
"We did some modifications to the entire circuit. We took some components out of the circuit. We've just done a lot of work and a lot of testing, and then you have to send it off to the labs to see if what you're doing is correct. There's gold, and what we suspect is a PGM. There's some gold there, a PGM possibly, gold, gold. You just see a lot, and this is just, again, a small dip in what the tables are concentrating. There's a floater in there that needs to get out of the way, but it's kind of interesting what we see now. This here is silica. Another word for silica is essentially sand. Okay, you can also see the dark materials in the silica. Now, that's some pretty interesting looking stuff right there. Not a lot, but that may very well be a Platinum Group alloy. You know the stuff floating isn't, but what I'm talking about is the silvery gold-looking material that's not floating around. If it floats, it's not gold. Not in a pan anyway, but you can see some more of it there. So, we're having to figure out how to deal with the silicas, how to deal with the gold, and what we're working on is a circuit where we're going to recover the free gold first. We're going to get that free gold before it alloys. Here's just another example. This is just out of the number two cons, again just a dip in the pan, and let's take a look here to see if we see any gold. You see a lot of this silvery material; well, we suspect that this is part of the PGM family. I'm going to set this down here a little bit, just so I can get a better zoom in on it for you. It's a little tough, I'm sorry. It's a lot easier when I'm not holding on to it, but what we're looking at there is what we believe may be some Platinum Group Metals. Some of the Platinum Group metals are worth $5,000 plus an ounce, and as you can see, there's a lot of that material here. So, we're having to do a lot of studying and a lot of work, but what we're seeing is a lot of gold. You can see gold here, you can see gold there, and the different stages of oxidation for the gold. That's what we want to recover. Oh, there's some good gold right there. I mean, that's a pretty nice-looking bit of gold, and why is it that color? It has to do with the oxidation, so the pyrite oxidized out of that. Again, you can see what may be the Platinum Group stuff, but there's more gold, more gold. I'll just show you what the pan looks like; it's pretty impressive. What this means is we think we've got this dialed in and how it's separated. We're still doing work, we're still doing testing. We have another geologist on board, a guy who is actually a mentor for Steve. I mean, you've got two great people working to solve this problem, and it's not even really a problem, it just takes time. This stuff takes a lot of work. You have to understand this to do it the right way because what we're not going to do is spend a bunch of money getting a bunch of equipment that isn't the right equipment. The work we're doing now is putting together the knowledge and information we need so we can put in the right facility for the long term. We're talking about a project that can run 20 to 30 years and cover a lot of ground. That's what we're doing. It just takes some time, so everybody's just got to be patient. But what we do know is we've got gold. Dan Hally signing off."
https://twitter.com/SeanRaeZalewski/status/1806709232898551953
Sean-Rae Zalewski
@SeanRaeZalewski
We have discovered / uncovered the associated 6 foot in width and 8 foot in width veins as mentioned in last years PR associated with the new claims and ore pile.
In my opinion, this should be very a very bullish position for our shareholders as it exponentially increases the probable reserves held by the corporation.
$sdrc
As a reminder the previous inferred reserves placed the low range of the assets before this claim in Warren at about $5 B when gold was in the 1800’s. That is based on the USGS data and Goldstone reports from the 80’s and various other geological reports over the last 20 years on the sure.
9000 ft confirmed distance on your property. Peak if the structure is about 1 1/2 feet in width with a lower width of 4ft running over 800 ft deep.
Now add these others and it gets really amazing.
https://twitter.com/SeanRaeZalewski/status/1808163389715226905
Our on-site third-party geologists have observed that the ore from this vein appears to be consistent with the geology of the tested and ore stockpile. $SDRC #GOLD #PGM huge densities! #WORLDCLASS #PLATINUM #SILVER #IRIDIUM #REE #OSMIUM
https://twitter.com/SDRCMINING/status/1808161227312427148
This is a dried sample from the Little Giant - Lucky Ben vein. It looks nearly identical to the stockpiled ore. The same materials we suspect are the #platinum group metals and the #gold.
All samples are being dried and prepared for shipment to the assay lab in Germany : $SDRC
#Idaho #Gold #Silver #PGMs #Mining #Production #Progress #WorkContinues #Invest #America #Success #Video @wfmining
https://twitter.com/SeanRaeZalewski/status/1812867243610411252
Just wait until we get to publish the next set of assays! #GOLD #REE #PGMS #IRIDIUM #PLATINUM #SILVER $SDRC #PALLADIUM #OSMIUM
SDRC's critics are their greatest asset!
What a congregation we have here! ...and the constructive support never ends! I just want to thank you all for all the valuable help you have given this company over the years. I'm sure their appreciation cannot be expressed adequately with words.
Ask again in q4 if anybody cares about the math when SDRC's balance sheet blows up, investors get a cash injection, and the company discloses how they've multiplied their mineral rights footprint in the Warren valley.
Why make up numbers at all?
Lay out your model for extrapolation for all to see, make projections based on operational updates. That's exactly what they have done. The math may not be exhaustive, nor measured, but its inference, and all mining companies arrive at inferred values before measured ones. It's incidential that most inferred projections are revised down when they become measured. What is unclear to me, is whether or not we will ever arrive at a traditionally measured reserve besides the ongoing updates of production, analysis of output, the eventual revenues, and subsequent expansion.
You may not see any point to it Gitreal, and there may not be any if your only goal is to figure out how much gold they have, or expose inconsistencies. For investors (of which you are not), this stock represents a disproportionately steep risk to reward setup, and an under-the radar one, interestingly enough, taking unique advantage of its precariously unconventionalness. It's their undervaluedness, because "No serious investor would take this seriously," is presented as the core proposition in the near term; An asset rather than a liability. Breakthrough revenues, revenue growth, and a dividend are concrete, and are reaching for interest beyond this industry and into generalist investing.
Money will flow, and it will transform this company, that's what most occupying the bid care about. The company could (to use a term I heard Mark Bristow use) "high grade" the hell out of their first year, nobody will ever know, and SDRC go on to use that money to expand even more vigorously than in previous years, and nobody would ever care in retrospect because they have outpaced their mineral depletion with replenishment, growth in scope of their operations, while making use of their new financial means to get all of it done to an ever rising standard of certainty.
3.74opt is the grade of the ore, and yes, the math presented earlier what was used to determine it.
That particular ore pile is estimated to have 18,000 to 28,000 tons.
Quotes from 2023 meeting concerning SDRC's approach to measurement.
Apologetically or apologetically, SDRC is forgoing the certainty and expense of using the traditional methods of measuring reserves. They do this while the company is still in it's final months of its pre-revenues stage. I predict the the money being made in subsquent years will be presented as proof of the in ground value, and investors will still be asked to speculate on future value based on rate of expansion and ongoing production updates (not an exhaustive measurement of reserves.)
Sean Rae Zalewski;
"What Mike Irish has postulated is that if we do a feed sample, and it's consistent with our outlay, we can then impute results for the entire valley from what we have and that will allow us to defend our salability or continued expansion and viability."
Sean Rae Zalewski:
"Dan's initial calculation on the first smelter run was 3.74 ounces per ton which is incredible, and that is consistent with our assays and other opportunities. So we are very pleased to continue to announce that our data is consistent and it is defendable."
Dan Hally:
"The challenge in the mining world is something special unless you can produce a 43-101 (Canadian exchange compliant reporting) and all these different drill reports it doesn't mean much because you're trying to paint a picture without the right paint. Everybody, investors and everybody, wants to see these 43-101's, these drill logs, but what we've learned over the years and through all of the conversations with the old-timers and being here on the ground and talking to different geologists, you can't do that here. Four companies tried before we did to bring the Warren District back on and they would come in and they do the same thing most big companies do, they drill. Well, the way these vein structures are, you can't drill, it doesn't work, you won't see the gold and (we're) convincing people to fund a project that says we're just going to go after the gold. We're just going to get on the vein and go after it."
“Do they think all their investors are stupid?”
Or more pertinently, do they think their critics are smart?
I do believe that they are “dumbing down” to some extent recent projections and analysis of results. I happen to know a few people, including myself, diehard optimists and critics alike, who would much rather see the raw data and come to their own conclusions. Even a fraction of the success that they outspokenly propend would be phenomenal, especially given the valuation. Upon such simplification/twitterification, SDRC projects values into the stratosphere, introduces perplexing and unprecedented geological theories now going on months without geological citation, while promising a relatively exhorbitant dividend upon year end review.
Investors should know that mining and exploration especially are of the toughest industries on the planet and hypercyclical on multiple fronts. Proving an economical resource without revenues is tough enough, but you have the ebbs and flows of the underlying commodity price weighing on the prospects of financing, investor interest, and the projects’ bottom line. It’s tough after production because each year the miners need to dig deeper to find less. SDRC is pumping expectations to the moon, and for the sake of their growing brand they should set themselves up to meet or exceed on every scenario. Undersell only to overdeliver by principle (I keep hoping)… and in their commentary they have mentioned numerously “always good to be conservative.”
The speculation is alive on all sides. GLTA. Either side is eagerly awaiting the next thing to rub in the others face.
Did you notice their Batman gif, Batman of Ihub?
"Sidney will publish an official report for public consumption after verification and additional testing rounds validate the exact results."
https://x.com/SDRCMINING/status/1811400089044132267
This'll be good. 🤣 Report Sidney's "crimes" to the Idaho AG.
Git, don't forget to introduce yourself and tell them what you do all day, you know, as in saving all the poor penny-stock investors from their ignorance on InvestorsHub? They should particularly be impressed by your 67-hundred posts on the AABB board!
I don't see how they wouldn't roll up the road to the Lucky Ben right away after you make your case.
"Just wait until we get to publish the next set of assays! #GOLD #REE #PGMS #IRIDIUM #PLATINUM #SILVER $SDRC #PALLADIUM #OSMIUM"
https://x.com/SeanRaeZalewski/status/1812867243610411252
I want to compliment you on your confidence, Gitreal.
We have both demonstrated our lack of understanding of the underlying geology, unexplainable insofar that previous study of the region can. We each, however, attribute our uncertainties to different outcomes.
We both revert to our default assumptions:
You assume fraud, an insidious ploy by the company to sell shares, something you would assume of any OTC mining stock.
My assumptions are that the company is trying to be honest and transparent concerning findings, (that for all we know are premature) but struggling with presenting it in a way that runs contrary to the excitement and high expectations demonstrated.
I think you gave some good constructive advice about how to present geological findings in an unemotional, unbiased, matter of fact way. I agree that a company should fall back on this way of doing things if they are unsure how to treat it as far as promotion and keeping investors engaged. Reading between the lines, I believe SDRC is being prudent and pragmatic in a practical sense on this particular subject matter despite the euphorically high expectations for first revenues and what it means for the stock and company. They realize a breakthrough could mean something of academic and economic importance so they need to get their ducks in a row before their findings are presented in whole, along with having secured any new important claims. They need to engage investors for the sake of their brand but not show all their cards lest they provoke competitors. It’s a weird balance indeed, and debatable if it should have ever been advertised in its premature and daunting state.
SDRC's metallurgical tasks are complex and puzzling.
So they solicited help from specialists at the top of their field.
Quotes from SDRC's linkedin:
This is a dried sample from the Little Giant - Lucky Ben vein. It looks nearly identical to the stockpiled ore. The same materials we suspect are the #platinum group metals and the #gold. All samples are being dried and prepared for shipment to the assay lab in Germany : OTCMKTS - SDRC
“Very few labs that have the the expertise to work with the complexity and precious metals in the ore. One of the best is Glorfeld in Germany. Dr. DeMenna of PTOE labs in Connecticut has also been a great asset in solving this puzzle.”
I agree. That would be more interesting and material to shareholders.
I don't think the purpose of these videos is to prove anything beyond chronicling a process (however piecemeal it is) and the day to day work environment. There's nothing wrong with engagement with their audience in this way, and of course this isn't the only way SDRC is doing so. More material releases, like you suggest, are usually reserved for other platforms. So, like the "Warren District Project" gallery on their website, arranged by year, the Youtube channel is presented in a similar manner, meant to look back over the grand scheme of where things were, what company was focusing on at any given time, all the way up to the current date. It's like they're (in this particular case) compiling an ongoing video scrap book.
Video of Drying, Crushing, and Weighing of "Super-cons" released:
Let me guess. Gitreal sees a red flag. 😂
https://www.youtube.com/watch?v=f67jBYOGcns
Maybe there actually are PGM's in their ores. 🤯
Maybe they're there despite how dramatic the implications are for our understanding of the underlying geology. Maybe its just as much a mystery to them as it is to us or anybody, but nevertheless, they have them and they have no choice but to take on the daunting task of figuring it out.
If that's true, then they can't be entirely open about every piece of that process, which is bound to provoke the attention of competitors. I will bet that before this mystery is through, and SDRC shows us the results of the work behind their discovery, they will stake more claims.... and if its as big and dramatic as they are implying, and they have as much flowing cash as they are indicating they will from production, i believe they will be staking many many more claims before it's through.
From Dr Gerald Demenna's Linkedin:
A highly experienced Scientist with diverse skills specializing in Analytical methodology with emphasis on HPLC, GC/GC-MS, FTIR, UV-Vis, Fluor, AAS, ICP/DCP, XRF; with intensive discipline in Food and Beverage Chemistry, Synthetic Chemistry, Flavor-Fragrance Chemistry.
Member: American Chemical Society (ACS / 30 years), American Society of Testing & Materials (ASTM / 25 years), American Academy of Forensic Scientists (AAFS / 2 years), International Society of Explosive Engineers (ISEE / 2 years), International Precious Metals Institute (IPMI / 23 years); Accreditation, ISO-17025 Certification.
That's merely my own speculation. I haven't ruled out PGM's (as you seem to have)
If you at least wish to try to make the picture make sense, you don't have to believe what the company is telling you, but at the very least suspend disbelief enough to actually use the information they release so that you may at the very least understand what they say. If they say they have PGM's, regardless of where it came from, you must assume that they are treating these ores as if there is PGM's in them.
As for assays, they have been sending samples to assay labs on an ongoing basis since they identified PGMs. It's been mentioned multiple times before, including today that their projections are informed by assay numbers. Sean even mentioned the name of the chemist / metallurgist. You and I both would like to see the certificates of analysis!
Another possible reason, behind the decision to leach instead of smelt at this time, is that there's PGM's mixed in with the gold and silver in the concentrates. PGMs are less reactive and have much higher melting points than gold, which can affect their recovery in smelting, and will require a much more intensive and specialized process.
Evidence suggests that SDRC is well inclined to choose the more environmentally favorable option in virtually every decision they make with this stuff.
That's a good question, probably best aimed at management.
Considering they are still testing their processes, and running at a much lower capacity than their expressed goals (in planning stages of a new facility), the decision to focus on leaching instead of smelting at this time could be driven by a combination of economic factors, material characteristics of the different ores, operational flexibility, perhaps environmental or permitting considerations? 🤷 Another thing to consider is it may also be at the preference of their buyers.
Let us not forget!
SDRC's subsidiary Irish metals is the inventor of novel smelt-less refining techniques of various minerals. There may be an emerging theme at play here.
Clarifications by ceo concerning todays update:
This is an estimate of blended price of aggregate yield of precious metals in the concentrates including gold, silver, and PGM's based on assay data from Dr. DeMenna's lab.
We chose to remove osmium from the estimate equation as the price per gram of osmium is not set by traditional supply and demand curves. $SDRC - CEO[\quote]
Preliminary projections for 2024 revenues from precious metals sales has been disclosed. This is merely based on year to date production, and at a gold and silver spot price much lower than today's.
🤫
Initial Production Report (Estimated Results)
As of July 10, 2024, Sidney Resources Corporation had crushed and milled material to produce 1,381,830 grams of processed concentrates. This translates to 48.742.659 ounces ready for reconcentration and leaching. If we conservatively anticipate 80% recovery, there will be around 38.994. 13 ounces of precious metals. If Sidney is successful in recovering $1382.00 per ounce (a portion of the potential values), the year-to-date minimum value will be $53.889.883.35.
**These are unofficial estimates of the Warren District Proiect's production. completed bu YTD 2024. Sidnev will publish an official report for public consumption after verification and additional testing rounds validate the exact results.
One thing we do know, we got gold.
👌
It seems that if there was iridium or other PGM content in a batch of concentrates undergoing a smelting process, it would be last to melt after anything else in the batch, clogging up any effort to liquefy if PGM's were not planned for. I am at the limits of my imagination as to how iridium in particular can concentrate so well if this is the case, especially by mistake... I do feel like I am closer to understanding what actually has taken place with the samples presented, despite the Twitterification of company communications on this particular matter. Upon more investigation, I may reach out again to the company for clarification. Shame it has gone months since release without further inquiry.
It looks to be a button taken from the slag, possibly during fire assay testing. It looks to be associated with the historical stockpiles they are processing now, coexisting with silver and gold. That would explain its unnaturally high iridium concentration, but we only assume that it is the same sample as pictured with the XRF readout because it is in the same Twitter post.
Curious usage of hashtag: "#iridiumgoldalloy !?"
Separately, it was said that a titanium drill bit was used on the button, unable to penetrate.
Their showcasing of a picture of solidified dore/slag within a text conversation about it looking like an "asteroid fit for a sci-fi set," implying extraterrestrial origin of some sort, has thrown me for a loop to say the least.
Twitter Post - Mar 5, 2024- Sean-Rae Zalewski @SeanRaeZalewski
XRF on the button showed iridium after a titanium drill bit couldn’t get through it.
That’s pretty neat.
$SDRC #warrenID #REE #iridium #iridiumgoldalloy ?!
Twitter Post - Mar 6, 2024- Sean-Rae Zalewski @SeanRaeZalewski
Don’t forget we still have a lot of #Gold and #silver in our ore as well. This is in addition to our gold and silver. It is being found in the same ore stockpile as the gold and silver while we continue to mill and process
$sdrc
Quote from SDRC 2024 Q1 Quarterly Report
"During fire assay testing it has been determined that a significant amount of Gold is reporting to the slag and high volumes of silver are reporting to the tailings. The reporting of valuable metals like gold, silver, copper, and iridium in our XRF scans further illustrates the rich potential of our mining operations. We are continuing to test materials to determine the level of any iridium and other platinum group metals that are being identified in the XRF scans. It is our opinion that XRF scan results do not confirm the presence of iridium and other platinum group metals but with this information and other indicators we have observed we believe there is sufficient evidence to warrant further study."
"Strategically, Sidney Resources Corporation made notable progress in metal recovery by initiating smelter tests and engaging with specialists to improve the quality of the dore produced. The identification of valuable metals like gold, silver, copper, and iridium through XRF scans and assays highlighted the potential of the mining operations."
Yesterday and Yes. I am Me.
It is not entirely clear if the thesis is that of management and Steve's investigation is being carried out at their request, or if he himself is the source of the thesis entirely and is investigating his own suspicions. Either is possible based on his work at Sweet Grass.