Landore Resources Share Discussion Threads

[hiddendepths] 03/2/2017 15:47

Well, they seemed to have stopped falling so I picked up a few this morning, not that I could get as many as I wanted at the full ask price so I picked up what I could at a little inside that. Interested to see that someone had to pay up (3.35 versus 3.25 offer price) for a little over half a million shares.

There's no stock in the market and, I suspect, no ready seller for the MMs to call.

[hugus maximus] 25/1/2017 17:41

Interesting observations hiddendepths ...

[hiddendepths] 25/1/2017 15:26

FWIW Currently out of this. Sold on the big spike in September - although I missed the top by some way (sold at 4.2). Wasn't looking when it fell sub 3p unfortunately. Interested again now although I think it's curious that the recent news, which I thought was good, has produced no positive momentum.

Will continue to track for now but I still like the story and think the shares are cheap.

[lochlea] 24/1/2017 15:43

Mildly interesting that Nickel seems to get quite a mention from Big Al for the first time in yonks. No mention of actual resource though. Pretty lazy journalism - 80% repeat quotes & facts and 20% other.

Even Lamaune gets a mention. Anyone going to the Lamaune AGM on 8 Feb? Iron Ore price soaring since The Donald has pulled from the Trans-Pacific deal. Imports to China top 1 billion for first time in several years. Spot price has doubled in past year (albeit from a low base).

[johnsalv] 24/1/2017 10:56

Landore gets BAM for buck at Junior Lake with gold option
15:58 23 Jan 2017
This will be very easy to fast-track, because we’ve done all the work we need to move forward for the nickel lease

Recoveries were an impressive 98%
For many years, it’s been all about the nickel for Landore Resources Limited (LON:LND).

The company has made great strides at two major deposits at Junior Lake in Ontario, to the extent that Bill Humphries, Landore’s chief executive, reckons they will be ready for a development decision this year.

Much depends on the nickel price though.

In recent years nickel has been very weak and the current price of around U$9,700 per tonne while above last year is still well below its best.

Humphries takes the view that renewed strength is likely within the next couple of years and remains upbeat that the US$13,000 to US$14,000 per tonne level that it would take to make the two Junior Lake deposits really pay their way isn’t that far off.

In the meantime events at Junior Lake have taken an unexpected, but welcome, turn.

In the final round of the most recent drilling campaign at the B4-7 nickel deposit, a geophysical target two kilometres east of the known mineralisation was tested, with the idea that it might turn up more nickel showings.

Instead, what turned up was gold.

Gold adds some glister
This isn’t altogether surprising, as Humphries explains.

“Junior Lake is a polymetallic property.

“We’ve been concentrating on copper and nickel for some time, and we’ve been dedicated to advancing the nickel projects, but in the meantime, as we’ve been drilling on the greenstone we’ve frequently hit gold and sometimes at quite high grade.”

Indeed, at the Lamaune deposit, which was subsequently spun out of the company, Landore hit as much as 130 grams per tonne gold; elsewhere at Junior Lake intersects running as high as 35 grams have been reported over the years.

What made this different was the potential scale.

For a start, this intersection runs across more than 30 metres and grades just over 1 gram per tonne.

Not bonanza grades, maybe, but across that kind of width, certainly attractive enough to consider a bulk mining scenario.

There were also higher grade sections within that wider intersect, including 3.7 metres at 4.21 grams.

So far so good.
Bill Humphries is under no illusions as to the significance of the discovery at BAM East.

It’s not just his own long-years of experience in the mining industry, and in particular as one of the founders of Brancote Resources, the Aim market’s first great mining success stories.

It’s also that other parties are beginning to show an interest in BAM too.

“We’ve got a lot of people talking to us,” he says. “After we finished the first round of drilling we had people calling straight away.”

There are many reasons for that. The first, straightforwardly enough, are the grades and widths.

The initial announcement of the gold mineralisation at BAM East was certainly a head turner: 40.75 metres at 1.82 grams per tonne gold, with two higher grade sections of 2.25 metres at 10.28 grams per tonne and 3 metres at 5.74 grams.

When drilling resumed later in the summer, Landore then hit 38.5 metres at 3.42 grams per tonne, with additional higher grade intercepts.

By early September the company was reporting multiple instances of visible gold and more lengthy intercepts as the outcome of the summer campaign.

Simple process
“It’s such a simple occurrence. This will be very easy to fast-track, because we’ve done all the work we need to move forward for the nickel lease.

We’ve got permits to construct and we’ve got very supportive First Nations.

We’ve done water studies, we’ve done wildlife, fishing – all of those.”

Recent news seems to back up his confidence.

Metallurgical testwork showed combined gold recovery by gravity concentration followed by cyanidation leach extraction of the gravity tail averaged about 98%.

Shore Capital said the results from preliminary metallurgical test work at the BAM East Gold prospect in Canada were “very positive”.

What’s more, when the nickel price finally does move off its current lows, the economies of scale will suddenly become plain for both projects.

Shares in Landore were up 5.9% at 3.52p towards the end of the day.

[eblitz1] 23/1/2017 20:29

Hello
I have never posted on this board before but I am interested to know why Luni
is so downbeat about the Company and I would like to also say that to my knowledge when there is a fund raising event the Directors put most of the monies up themselves.

Please correct me if I am wrong

I also would like to re confirm that whilst agreeing with everyone about the lack of information that we get directly from the directors when they are approached directly, what more is there to say other than the RNS that is put out and what more do they want to know that they could tell you that is allowed.

I am also an investor in the sister Company PGD and that has been a disaster but I think that because of the age of the Directors they will hopefully sell the Company if and when a good resource figure comes out and they are happy with the price together with the commodity price getting stronger

Please correct me if I am wrong

Good Luck

[tini5] 23/1/2017 19:00

Would be feeling more positive if the share price was sitting at 7p :-)

[idle jack] 23/1/2017 18:12

I think if we look at the last 12 months they have found a new seam of gold. Could almost argue we have a new company.....Landore Gold Resources. (And we still have the old stuff in the ground which must have some value).This has 7 bagged within that time.Happy days for those in at 0.5p or those that leveraged at lower prices. For those that hold from higher prices it still looks better than it did. Maybe a decent return not too far away. Extraction rate of 98%!.... other than Tizzers success rate with women it doesn't come much higher than that! Personally feeling very positive. A decent resource update and it's end game on!! Imo....blah blah....:-))))).

[hiddendepths] 23/1/2017 16:59

I agree, Stan. The game has changed of late. It would have been fair comment until maybe a year ago. Maybe Luni, presumably a stale bull, could reread the last few updates and have a bit of a think about whether the scepticism is still justified. Of course it's still early stage stuff but that's more than fully reflected in the price.

Anyone checked out the credentials of one of the neighbours - Copper Lake on the TSV?

[stan-the-man] 23/1/2017 16:27

Luni have you not been reading what's been happening in the last 12 months?

Why the constant negativity and why do you feel the need to post it?

[luni2] 23/1/2017 16:01

The company will keep raising more funds and releasing exciting updates as it has done for the last 14 years in order to keep paying the hard working directors. Credibility, or lack of, might make any realistic progress or potential sale of the company a very poor prospect I'm afraid.

[toffee16] 23/1/2017 14:58

Of course the company will need to raise more funds. However , as alerted to by others , these funds will for exploration to increase the Resource. All being well , this will increase the value of the company. The name of the game is to increase the ounces ! Given the expected low production costs , a decent Resource along with reasonable upside would have to make the company attractive.

[temujiin] 23/1/2017 13:00

I'm not sure why releasing a standard metalurgical update sounds like a placing is on the cards, but as a company with no income, LND will do one at some point as is the norm.

That said, it didnt do Marl any harm as they continued to report great grades. If LND issue more shares and spend that money proving up a million + oz reserve with an AISC of $600 then great.

[tini5] 23/1/2017 13:00

On what facts do you base that luni?

[luni2] 23/1/2017 11:19

Sounds to me that they're preparing the market for yet another placing! Good luck everyone

[hugus maximus] 23/1/2017 10:45

This all sounds like good news .... New York - New York!

[toffee16] 23/1/2017 09:33

Recovery results are outstanding - if the Resource expected this month is half decent then the company is significantly undervalued and the share price should only be going one way !

[toffee16] 23/1/2017 09:33

Recovery results are outstanding - if the Resource expected this month is half decent then the company is significantly undervalued and the share price should only be going one way !

[robers98] 23/1/2017 09:15

Positive start

[glennrcharles] 18/1/2017 18:20

A 1 million sale today.. although I see there were many sells today across the market pre Trump.

[hugus maximus] 17/1/2017 12:33

Hi Mark ... many thanks for your note.

I've just been a numbskull ... that was a silly 'interim statement' (note number 1159) luni2 just put up last week on the 13th January that was in fact dated 2003.

Apologies ... I'm in anticipation of the aforementioned 'report' and read that note without looking when it was dated! (It must be said that my blunder points up luni2's point!)

Best wishes

GLA HM

[mark1000] 17/1/2017 11:14

Hi Hugus - what date is that interim report? we should see the maiden resource report this qtr presumably they will need this to work out the financial viability but it seems likely it will be viable the question is how viable and how will production be financed.