Landore Resources Share Discussion Threads

[imperial3] 17/2/2017 18:25

Near the end of today's RNS they say that funding will come via an equity subscription by existing and new investors at around market price,seeking to raise GBP3 to 4.5 million and to be completed next month.I assume this means yet another placing to institutions.Private investors as usual,are presumably excluded.

[temujiin] 17/2/2017 17:59

True HD, it came a bit quicker than I thought :)
I took 50k off the table first thing so back to 400k.

The equity raise is the draw back in the RNS but was always going to happen. It will weigh on the share price until it happens.... but I like the idea of getting a stack load of cash and drilling the hell out of these high grade veins with great recovery and easy extraction costs.

Much of the feasibility studies have been done and they do seem to be in quite a hurry to delineate the discovery and prove up more ounces, with an eye on the PEA at the end of the year.

I hope they concentrate on getting the high grades reserves into high grade resource ounces and then plan a mini mine to get the gold out asap! Further exploration can wait and be paid for from revenue.

[glennrcharles] 17/2/2017 10:57

You can't dissolve gold...precious. .

[imperial3] 17/2/2017 10:07

Just far too much dilution over so many years.

[tini5] 17/2/2017 09:48

Most frustrating share I've ever held.

[hiddendepths] 17/2/2017 09:40

Yes, I missed that!

[tini5] 17/2/2017 09:20

Hardly surprising with the subscription lumped at the footer of the RNS. Don't think this will go anywhere now until that's over and done with.

[imperial3] 17/2/2017 08:41

Poor response from the market so far.

[hiddendepths] 17/2/2017 08:09

You didn't have long to wait, Temujin.

Looks pretty impressive to me!

[robers98] 17/2/2017 07:24

RNS out, 300k gold so far.

[temujiin] 16/2/2017 21:17

Well I took 50k today, and 50k on the 8th, to bring my holding back up to 450k. Am looking fwd to the initial resource as per RNS...

....to complete an initial Mineral Resource estimate and NI 43-101 Technical Report on the Bam East Gold Prospect, scheduled for completion Q1 2017

[hiddendepths] 16/2/2017 16:29

Someone' cleared out all the stock on the 3.30 offer after a bit of selling earlier this week. Curious.

[hugus maximus] 09/2/2017 10:25

Many thanks HD ... indeed Copper Lake looking interesting too. GLA

[hiddendepths] 08/2/2017 12:40

Should be a progress report at least, HM, in the next couple of weeks. But who knows?

Anyone notice the news release by the neighbours, Copper Lake (TSXV -CPL)? Seems they're getting interested in gold too. Worth a look IMO!

[hugus maximus] 05/2/2017 09:07

Does anyone have an idea as to when there'll be a definitive report about the viability?

[robers98] 04/2/2017 17:10

Updated photo gallery.

hxxp://landore.com/photos.php

[chutes01] 03/2/2017 16:10

added, ready to move again

[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