Originally posted by Donniemac
Hi all,
Been a tough few months for everyone, Platina double certain.
Oly I'm glad you're back and i hope you had a good time in China but I have to say I'm pretty disappointed in the way you and yours voted. I honestly thought a few of the old boys would have had enough of this by now. Anyway no point in dwelling on these things.
Fiendish, the only time you show up on the PGM forum is when somebody speaks bullish about Palladium. Are you just lurking in the shadows waiting to beat down any positivity on the palladium outlook? I've heard your theory countless times. Here's the Nat Geo picture of the year 2018. I can see what you mean, the recycling of palladium from cat converters is in fuuuuull flow. Or maybe actually it's not because recycling it out of them is a massive pain in the a*se and it's still easier to mine it.
The future of PGM now is an uncertain one. Before the end of the year or soon we should have the following due:
- Owendale DFS
- News on the product development of the ore mined through the pilot plant of Owendale
- Update on Skaergaard.
My suspicion for 2019 for PGM is they will go back to a skeleton team to try to preserve what money they have left and CN will spend all his time and energy trying to get strategic funding/offtakes for Owendale.
Skaergaard will remain in the background until such a time as someone interested comes along and makes a decent offer for it. Really the saddest part of the story is that Mosig never found the "Golden heart" at the center of the system. I believe if he had Platina would be a very different company today. I still have belief it's there but I don't think Platina will be the ones to find it. The one positive outcome I see for Skaergaard and Platina now is if they can identify sizable content of other metals up there like vanadium and rhodium, they may be able to get someone to take it on. Sadly I feel Platina's time with Skaergaard is coming to an end.
Cheers,
DMac
Well here we go again .....gold back to 1340 level a stone's throw away from the floodgate circa 1365. This will be third attempt at the break ....usually succeeds. They have thrown everything at it to keep it down but u know GS, once they set themselves up and are ready to burn everyone, they trigger the move.
PGM has 10 million ozs Gold known at Skaergaard , of which 6 mill is already JORC and Canadian Std confirmed. 35,000m past drilling has confirmed a low grade in well defined visual strata with Palladium which runs at higher grade and 3 times as much. 2013 scoping study also suggested there is likely to be a 4g/t core to be defined at next drill program.
Back in 2013 when AUDPOAu and AUDPOPd were at much lower levels, the scoping study was shelved waiting for such improved times. Pd is now more than double price what it was then. Skaergaard was marginal back then, but the spreadsheet is done and kept secret from us all this time.
You know how Sprott and Rule think about the best gold plays ..... they with large resources just under commercial viability offer the GREATEST upside leverage when prices turn cos from ZILCH they go to MEGABUCKS real value. I strongly suspect our Skaergaard spreadsheet is ALREADY looking the goods and about to look seriously HOT when POAu and POPd resume their next upleg from well defined Pivotal launch Points.
As a part owner of this public company and hence this most valuable resource, with so many other value adding goodies not yet discussed, I have a right to know as you do, where we stand and what is to be done to realize this value, by them in whose hands we have entrusted the successful development of such. Skaergaard is potentially worth more than the combined values of the NSW Co-Ni-Sc club's assets and I suspect able to be actually brought to commercial reality with less risk. Yet it is not even necessary to consider production in our case to still bring home megabucks capital return to shareholders .... Just spend enough to complete the DFS and put it up for market auction.
This can be done with a little vision but better to separate it first and attract KISS market focus by the serious precious metals players. Inspecie prorata distribute it to shareholders then IPO in more understanding jurisdiction with minor dilution .... there are majors looking for such mega Gold and Palladium plays now waiting for someone to tell them WE exist.
Being in this game for a lifetime, I have learned not to trust anyone who doesn't respect us with open disclosure. So shape up boyz and lets proactively prepare for the opportune macros ambiance evolving and be seen as market leaders for a change instead of market joke.
OWEP
-----------
The one and only O.
(20min delay)
