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BT, I’m certain that it is year on year that the spend has to be met so it is $4m per year. I was aware that spenditure was carried over and had an inkling they’d overspent. Had correspondence from Brad and he’s basically saying the negotiations are not going bad and that this announcement frees him up to be able to do a webinar to talk about the negotiations, which will come next week. Good luck all.
Just bought 30k, 4.9p. Joke price.
From correspondence with Brad, my understanding is, and others who hold here who are in regular contact with him. Upon formation of the new company which is required for phase 2, the majors are wanting amendments to the previous agreement from 2018, mainly in regards to changing which / how much of Anza is required to be drilled for the completion of phase 3. They want less, we want to stick to the original terms with we are in our right. End of. Nothing more to it. It not in unusual for these majors to try it on and happens constantly. Brad isn’t budging. They’ve got to start spending this year to meet the obligations. They overspent by almost $4m and they’ve paid $2m payment to us. What does that tell you? Just delays for me. Thought it could be a bumpy ride.
They’re just playing hardball and Brads not having it, end of. They haven’t walked and in my opinion have no intentions to. I wasn’t expecting anything happening until Q3, that’s a certainty now. Brad has already stated we’ve other options if they the majors do walk, I genuinely hope they do, the drilling results were much better and more
Public when the Orosur team were running the show, it seems Brad has offered there services again.
"We respect MMA's decision to reassess Anzá and fully understand the complex dynamics and priorities of companies of that size, especially in light of recent mergers. Orosur however sees a tremendous potential at Anzá and would welcome the opportunity to get back into the driver's seat if that option is viable. In the meantime, our other projects are growing in stature and positioning us well as a diversified explorer."
Brad not budging and neither are the majors… Could be a very long bumpy year.
I don’t think it’s the end of the line, majors still wanting to change the terms of the new JV and Brad not budging. Weird one. Nightmare situation.
It’s easy to lose patience and confidence here but let’s remind ourselves why us investors, Agnico and Newmont are all invested here as gold nears record highs.
Here are the most substantial results from the most recent drill campaign since the start of the JV with Newmont and Agnico Eagle. Apta (Drilled first due to accessibility and historic drilling)
MAP-072 70.50m @3.53g/t Au, 9.33 Ag and 1.62% Zn
MAP-073 21.60m @ 6.02g/t Au, 6.02g/t Ag and 3.23% Zn Map-075 37.5m @ 0.72g/t, 1.8g/t Ag, 3.58% Zn
MAP-076 12.25m @ 5.39g/t Au, 1.65 g/t Ag and 0.18 % Zn MAP-079 23.75m @ 17.40g/t Au, 1.84g/t Ag and 0.19% Zn MAP-079 0.4m @ 948g/t Au, 57.7g/t Ag, and 0.7% Zn *1kg Gold
MAP-082 29.45m @ 2.50g/t Au, 1.95g/t Ag and 1.08% Zn MAP-086 18.72m @ 2.85g/t Au, 2.95g/t Ag and 1.59% Zn MAP-089: 59.55m @ 9.61g/t Au, 6.23g/t Ag and 3.75% Zn MAP-090: 6.05m @ 9.91g/t Au, 1.56g/t Ag, 0.58% Zn
MAP-091: 61.75m @ 2.05g/t Au, 3.3g/t Ag and 0.82% Zn MAP- 093: 14.85m @ 1.60g/t Au, 1.08g/t Ag and 0.79% Zn MAP - 096: 51.55m @ 1.32g/t Au, 1.34g/t Ag and 0.35% Zn Pepas (All Pepas Strike starts at Surface)
PEP-001: 150.9m @ 3g/t Au, 3.16g/t Ag and 0.15% Zn
PEP-002: 37.25m @ 0.54g/t Au, 0.55g/t Ag and 0.06% Zn Pep-003: 32.55m @ 0.61g/t Au, 1.2g/t Ag and 0.01% Zn
Pep-005: 36.85m @ 2.13g/t Au, 3.74g/t Ag and 0.07% Zn Pep-007: 80.55m @ 3.05g/t Au, 2.91g/t Ag and 0.15% Zn
Keep the faith and stay patience, the worse is behind us. I’ve seen endless stocks idle at 52+ week for ages / years, then eventually they blow. It’s coming here, no questions asked.
I agree spank, many people have unrealistic timescales. From these lows are when real money is made.
If the majors are wanting alterations to the JV contract which will not be beneficial to Orosur what would you rather happen? Brad bend over and get the phase 2 starting soon or maybe wait it out until they understand that ain’t going to happen? Q3 is stated on the Turner and Pope previous release.
‘Following completion of drilling, exploration work at Anzá has been wound back to allow for the required corporate restructuring of the joint venture to be completed, and to advance a variety of licence processes such as integration of smaller licences and conversion of applications to granted status.’ Hopefully La Virginceta application granted by time phase 2 kicks in.
I agree, I’d rather they get shut of the gold projects unless we managed to get a JV and someone paying for exploration. We’ve enough on our plate with GH and Thar.
Sorry my bad, probably was a buy thinking about it. The size of it will have taken time to fill. Should be another strong day on the cards.
Whoever sold 750k on Friday will be pig sick if news comes tomorrow. May add more to my reduced holding here. Don’t wanna miss the big time after having held for so long.
I remember the 28p rise very well, 2018. I was in the Dominican Republic at the time and i thought we'd cracked it only to be here 5 years later... I hold much less now but I hope this finally comes to fruitition. Those still holding large amounts deserve it massively. Andrew Trahar I havent seen for a long while and any platforms. Wonder if we'll get a interview soon. Good luck to all.
Turner pope suggested negotiations could stretch into Q3. That’s what I’m going off so expecting them anytime sooner is very optimistic. Phase 2 is yet to begin. I’ve had numerous emails to and from Brad over last few days. Anyone scratching there head unsure of the situation I’d advise maybe email him? Impatient people bailing should give a great opportunity to get some very cheap shares. I didn’t think we’d see lows 7s again…. Looking possible to get some in the 6s.
Is the giant finally awakening. Nice to see.
Some some sells were buys also, 1.39m was a buy.
Nice to hear progression with Thar, it’s been all GH atlately. Power China a huge enterprise. All good.
Maybe the fact they don’t want to have to commit to the purchases if they expect the share price flying up?
Robert, I agree with what you are saying somewhat in regards to them only drilling certain areas and giving out little info to Brad, but here we are 7 months on from the actual phase 2 deadline, one which was expected to be surpassed early until the negotiations came to logger heads. Brad and Louie are obviously keeping a strong stance for our / there / Orosurs benefit or we’d be well into phase 2 now with trickling news like before. Agnico have come in trying to strong arm us and change the terms but it’s looking highly likely they have failed. It’s a patience game for shareholders but we should all be rewarded in the long run. The longer it goes on, the higher the gold price will be, the more interest we should generate once drilling. I’ve seen endless juniors putting out good news over the last 6 months and the share prices have just stood still or even fallen. This delay to me is a blessing in disguise.