Landore Resources Share Discussion Threads

[robers98] 07/1/2020 08:20

Landore pushes gold resource at BAM over the one million ounce mark

Landore's summer drilling campaign has also significant boosted the indicated resource.

Landore resources Ltd (LON:LND) has boosted the NI 43-101 resource at the BAM Gold project to just over 31mln tonnes of ore grading 1.02 grams per tonne gold.

That gives a total of 1.015mln ounces of gold in the ground.

747,000 ounces is in the indicated category.

The BAM Gold deposit now extends for 3,700 metres, but remains open down dip and along strike to the east and the west.

In addition, a recently completed soil sampling program has identified widespread gold mineralisation along strike to the west for a further seven kilometres.

“The directors believe that the continued growth of the BAM Gold deposit together with the possible future development of new discoveries along this highly prospective 31 kilometre long Archean greenstone belt has further enhanced the likelihood of the Junior Lake Property hosting a multi-million ounce gold deposit,” said Landore chief executive Bill Humphries.

In February 2019 a preliminary economic assessment established a post-tax net present value of US$123.71mln for the project. At the current gold price of US$1,560 that post tax NPV is elevated to US$227.37mln

[lochlea] 18/12/2019 08:52

On checking I'm not so sure the gold associated with Lamaune is directly held under licence with Landore Resources Canada Inc. But I guess ultimately all comes under the umbrella of the Company most of us hold shares in (if we have held pre Lamaune).
And I suppose having the Vice President of Landore Canada Inc (as well as being a director of Lamaune) deal with the outside consultancy Cube is better than the same person who isn't even a Director of LND, let alone a shareholder, makes some sense.

I made the mistake of thinking someone who is a qualified person under NI 43-101 would along with someone else who has been in the business over 50 years would have been well capable of doing an 'in-house' resource update. But I understand the benefits of going to the expense of it being handled part independently by an external company.

[lochlea] 17/12/2019 19:08

Yes, you are probably right, on both counts. Thanks for clarification.

[hungary16] 17/12/2019 18:33

I assume the Resource calculation should still be prepared by someone with the appropriate expertise whether in house or not rather than by the company’s geologist and an engineer. I also assume Landore Canada owns the BAM licence.

[lochlea] 16/12/2019 16:33

Taken from the last RNS :-

"Cube Consulting Pty Ltd ("Cube") has been engaged by Landore Resources Canada Inc. ("Landore") to complete an 'in house' update the BAM Gold Resource to include the 2019 drilling campaign."

CAN ANYONE TELL ME PLEASE:-

1) Why they have to get an external consultancy to do an "in house" resource update?
2) What are Humphries & Tuomi currently doing day-to-day??? Drinking coffee????
3) Why is it Landore Resources Canada Inc have instructed Cube and not Landore Ltd?????

[hugus maximus] 14/12/2019 14:48

Flip lochlea!

[hugus maximus] 12/12/2019 18:30

STAN-THE-MAN ... stand corrected ... realsing now that what was mentioned here was the Landore directors are going to be in attendance at the Lamaune AGM which seems very unusual.(And I was originally allocated 11,641 Lamaune shares ... just looked in my share account and indeed they are Delisting)

I invested too heavily here aroud 2010 when they had a poor communication strategy ... since which time it's become abysmal.

[stan-the-man] 12/12/2019 17:48

It's the Lamaune AGM...

[hugus maximus] 12/12/2019 16:44

Today is Landore's AGM in Canada but as these guys can't even spell the word "communication" ... I guess we have no access in the UK to what goes on until somebody posts us a letter?

Is anyone aware of any sort of 20th century access to what happens / happened?!

[hugus maximus] 06/12/2019 09:30

Fingers crossed lochlea!

[hugus maximus] 04/12/2019 09:57

Surely something significant next Thursday? Directors can't possibly continue to take wages?

[lochlea] 22/11/2019 15:32

Ref Lamaune

Just received through letter box Notice for AGM on 12th of next month.
Might just be mere formality/routine to simply re-appoint the 3 Landore directors.
BUT the timing seems a tad odd (odd as in being 'interesting') as the accounts were audited way back in April. And I don't think there's been an AGM for over 2 years (but could be wrong on that).
And meeting is being held in Canada (think for 1st time).
Mmmmm

[chutes01] 21/11/2019 12:48

on the move

[lochlea] 13/11/2019 10:10

Up For Sale

"The combined Landore and Lamaune Mining Leases............ (now).......... encompassing ALL of Landore's established mineral deposits and prospects."

[robers98] 21/10/2019 07:25

Summer drilling results out, still finding gold.

RNS Number : 4382Q

Landore Resources Limited

21 October 2019

LANDORE RESOURCES LIMITED

(AIM Ticker: LND.L)

PROGRESS REPORT

BAM GOLD PROJECT

JUNIOR LAKE PROPERTY

London, United Kingdom, 21 October 2019 - Landore Resources Limited (AIM: LND) ("Landore Resources" or "the Company") is pleased to report on progress of the Summer Drilling and Exploration programme on its BAM Gold Deposit, Junior Lake Property, Ontario, Canada ("BAM Gold Deposit").

Highlights:

-- All assay results with associated drilling information from the latest drilling campaign on the BAM Gold Deposit have now been received and forwarded to Cube Consulting Pty Ltd ("Cube") of Perth, Australia for inclusion into an upgraded Mineral Resource Estimate and Preliminary Economic Assessment ("PEA") scheduled for completion in Q4 2019.

-- The latest drilling results continue to report similar gold mineralisation of widths and grade to the existing BAM Gold Deposit with multiple instances of visible gold ("VG"). Intersections included drill-hole 0419-713 reporting 12.87 metres at 3.23 grams/tonne gold (g/t) including 1.00 metres at 28.60g/t.

-- The BAM mineralised zone now extends for 3,600 metres from 400E to 4000E and remains open down dip and along strike to the east and the west.

-- An extensive exploration campaign including ground geophysics, geological mapping and soil sampling (867 samples) has been completed along the highly prospective area between the BAM Gold Deposit and Lamaune Gold Exploration Target located approximately 8.5 kilometres to the west. Results are pending.

Commenting on this report, Chief Executive Officer of Landore Resources, Bill Humphries, said:

"The 2019 drilling campaign on the BAM Gold Deposit is expected to increase the BAM Gold Resource with the conversion of Inferred to Indicated on the western portion of the Deposit and the possible addition of inferred ounces of gold further to the west. The higher confidence rating of the BAM Mineral Resource, together with the greatly improved gold price, will provide significant benefit to the PEA and further strengthen resource development economics.

In addition the exploration activities completed this year in the large area between the BAM Gold Deposit and the Lamaune Exploration Target, 8.5 kilometres to the West, has clearly established the continuance of similar geology and geophysics between these gold occurrences. The results from the extensive soil sampling are eagerly awaited for further proof that Landore's highly prospective Junior Lake Property is host to multi-million ounces of gold.

[hugus maximus] 01/10/2019 17:09

Hi Lochlea ... so all a bit dull here :-(

Does anybody still have any sort of high hopes for this share? (My original £11k at 18p clearly stratospherically high)

[hugus maximus] 30/9/2019 11:42

Morning Lochlea

Once upon a time I remember receiving email RNS notifications from Landore. Isn't an RNS a legal obligation ... is it common practise to have to search out these things for a company? In this day and age, if nothing else it shows total contempt for the share holders.

Is it possible for a company to carry on trading if it doesn't take the trouble to even make RNS announcements? I have no idea of what the legal requirements are.
best HM

[hugus maximus] 26/9/2019 16:59

Once again the share price sinking to the depths ... is it over here? Time to stop paying directors salaries?