Sovereign Share Discussion Threads

[hope67] 06/11/2015 16:03

JV news Monday?

[an1mal] 05/11/2015 17:32

News flow improving in Guinea and ministers appear to be in office still. Not sure what the hold up can be now. Surely 4-months is long enough to thrash out a deal, plus a week's extension. Perhaps we are waiting for a gap in Prof Conde's diary to have him announce the deal in behalf of the Guinean people. Who knows.

[hope67] 31/10/2015 19:23

Election results announced

[noirua] 30/10/2015 17:34

Assay of final batch of results from Phase III drilling at Mandiana - 30 September 2014

Sovereign Mines of Africa PLC (AIM:SMA), a gold mining exploration Company with properties in the Republic of Guinea in West Africa, is pleased to announce the assay results of eight Reverse Circulation (RC) drill holes from the Mandiana gold project in the Republic of Guinea. In the Yagbelen Zone, one drill hole, RCY_93_3, intersected a high-grade quartz-vein cutting an interval of four metres averaging 18g/t gold from 87 metres and a second hole, RCY_95_3, cut a broad zone of 27 metres averaging 1.46g/t gold from 43 metres.

John Barry, SMA’s Director of Exploration, commented:
“These very encouraging results confirm the impressive grade of high-grade shoots within a broader extensively mineralized envelope. The deep weathering and oxidization to depths of up to 120 metres supports the potential for a low-cost, open-pit bulk mineable resource at the Yagbelen Zone. What is new, is that the potential for a high-grade underground operation should now also be given very serious consideration.”

“We always recognised the potential of Mandiana and the real opportunity to discover a multi-million ounce resource. A team from a major international gold mining group who visited the site in June this year were of the opinion that Mandiana has the potential for a Tier 2 gold mine supporting annual production in the range between 200,000 ounces and 500,000 ounces of gold.”

In October last year SMA announced a maiden inferred JORC gold resource of 610,000 ounces of gold at an average grade of 1.2 g/t based on only 15,500 metres of drilling and covering only seven percent of the mineralized strike. This relatively early stage milestone compares very favourably with other more advanced gold projects in the region such as Avocet Mining PLC’s (AIM:AVM)

Yaoure gold project in the Ivory Coast and TrueGold Mining Inc.’s (TSX-V:TGM) Karma gold project in Burkina Faso, when they were at a similar stage of evaluation. With the acquisition of the Mandiana South Concession last November SMA has no less than seven major artisanal areas, which have never ben drill-tested (
-----

The Mandiana property is owned by the Company’s subsidiary, Sovereign Mines of Guinea Limited (“SMG”). 20 per cent of SMG is owned by SOGUIPAMI, the Republic of Guinea’s state-owned mining firm. The property is located within a few kilometers of the eastern frontier with Mali, 30 kilometres from Hummingbird Resources PLC’s (AIM:HUM) Yanfolila development gold project in Mali and only 10 kilometres from Avocet’s Tri-K gold project area. Mandiana is the site of extensive artisanal gold mining with more than 9,000 artisanal pits discovered on site to date and prior to SMA’s exploration of the area it had never been drilled or evaluated by modern exploration methods.

Given the very challenging market conditions for Junior gold explorers even with high-quality early-stage gold projects, SMA is continuing to seek a strategic partner with the financial resources and commitment required to realize the potential of this very extensive mineralizing system. There are currently several interested parties to whom we have given access to our online Project Dataroom.

[sigora] 30/10/2015 16:45

your right the t20 brigade are fretting lth can wait as long as it takes

[sigora] 30/10/2015 16:44

unforgiving markets every delay is hammered , for what its worth there will be a deal rather have 200% rise at a penny than 200% at .30 the elections out of way so hopefully soon but been saying that for a while lol

[noirua] 30/10/2015 16:38

Further to the announcement made by the Company on 14 October 2015 titled "Update on exclusivity period with potential partner", the Company announces that the exclusivity period has now lapsed, however the Company remains in discussions with the potential partner with a view to reaching a formal agreement relating to the Company's Mandiana project.

Looking at this it is doubtful anything has changed really. Bidder is just being given free time to finalise matters. Probably some similarity with that of CRND Central Rand in that it needs patience and investors are probably not all that concerned but punters are mostly chaffing at the bit, bless'm.
Those bailing out now may well regret at leisure.


Maiden Inferred Gold Resource of 600,000 Ounces at Mandiana-Magana in Guinea

[sigora] 30/10/2015 14:47

afternoon rally anyone ?

[bumpa33] 30/10/2015 11:38

or in short, yes i'd be a bull if i had to choose and had a long term timeframe.

[recordz] 30/10/2015 10:20

This is volatile isn't it.

[keya5000] 30/10/2015 09:02

Bumpa did you have a play on PANR the other day?

I was unfortunately selling when you turned up talking it down the other day in the early 60's and thought at the time I had made the right choice.

Nigh on 80p now. Feel a tad sick about it all!

[bumpa33] 30/10/2015 08:52

let's hope the afternoon white knight rides into town once more...

[bumpa33] 30/10/2015 08:09

what a surprise, offered all round the tracks both yesterday and this morning, mm's didn't even want to match the bid in NMS - but let's hope there's still some mileage from the crazy gang to go :)

[sigora] 29/10/2015 18:51

good to see a happy camp today long may it continue hopefully tomorrow huge orgasms for both bumpa and keya lol

[bumpa33] 29/10/2015 16:23

come on, that's it....

[bumpa33] 29/10/2015 15:55

come on SMA...


....LIVE!!!!

[bumpa33] 29/10/2015 15:55

lets get the defibrillators on it and we can have a bit more fun.