Jack_Herer
6 hours ago
I can provide you some links. I only post the facts, jack.
But believe me or not, don't really care. Iggy me if you're put off by my DD.
And 21 was my buy, don't recall the date and I'm not going to post a screenshot because again, don't really care if I'm believed here.
But, GLTA. I would be very happy if this got to a nickel or better!!
Cheers. It's beer o'clock, have a pint on me...
burdbasket
8 hours ago
I’m still trying to get my mind around the thought of someone like yourself bypassing the opportunity of making a lot of money as opposed to doubling down with rhetoric, deflection, straw-man arguments, and metaphorical conclusions.
Frankly, I thing a lot of us, if not most of us, think of you like the general did on Good Morning Viet Nam when he said to his underlings, “You don’t know if you’ve shot, fu&$ed, power burned or snakebite.”
Jack_Herer
8 hours ago
No worries, mate. Your loss.
Perhaps too technical for you to wade through, but the jist of it is covered in a couple of lines near the bottom of my lengthy post.
Cheers!
So to sum up, the Balfour copper fields were the site of several very small copper mines around the turn of the century which has since experienced several programs of exploration up until recently, demonstrating that some low-grade copper ore remains and is still open to depth (as per Moina Gold’s one drill hole), but it’s likely small, discontinuous, lower grade, and just one of 100’s of average exploration plays in Aus, certainly not a mine ready to go like the Avebury.
If this is truly the “cornerstone” of Hiru’s operations, their “flagship project”, either they don’t know a rock from a hard place, or they’re “pulling your legs”…
Jack_Herer
8 hours ago
But wait, there's more....
The Balfour district covers a 35km line of intermittent copper mineralization with several small mines that produced copper from the turn of the century to around 1912, with the Murray’s Reward mine being the largest producer in the field. Productions statistics are not readily available, but there are reports of 1,100 tonnes of high-grade copper ore being mined by 1909 (this was a very small mine).
The Balfour field also has associated tin and tungsten mineralization running alongside the copper trend and 125 tonnes of tin metal was produced from the early 1880’s until 1942. (also very small)
The discoverer of the Murray's Reward Mine, Tom Murray, killed himself in Balfour in 1912 with bullet to the head after his mine ran out of high-grade ore and his wife died of typhoid.
Being a historical (though small) copper district, there have been a number of efforts of exploration around Balfour to see if there might be more ore. The old underground mines didn't go down too deep (300 or so feet), so what might lie below?
BHP of course conducted some exploration of the area in the 1960's, but concluded there was nothing large enough to interest them around Balfour.
In the 1970's ACI Operations Pty. Ltd. conducted some shallow drilling below a couple of the old mines' workings and defined a small copper resource (pre-JORC) of 0.5Mt @ 0.8% Cu remaining below the Murray's Reward Mine. That's small, fairly low-grade, and represents 4,000 tonnes of Cu metal, which is one day of production at the Escondida mine in Chile.
During 2009 through 2014 a joint venture between Pleiades Resources Pty Ltd and King Island Scheelite Ltd conducted exploration of the Balfour district and eventually decided to drop their claims to focus on a scheelite property elsewhere in Tasmania. They concluded that while there were some interesting copper (and tin-tungsten) intercepts in the historical drilling around Balfour, the size of the mineralized bodies is limited and unlikely to produce an economic mine.
Then, in 2022, with a small grant from the Tasmania State's Exploration Drilling Grant Initiative, Moina Gold Pty Ltd drilled a single 540-meter long hole under the old Murray's Reward mine and below previous drilling from the 1970's, that returned 7.65m @ 0.81% Cu, including 3.7m @ 1.59% Cu from the main reef, demonstrating that the mineralization does continue to depth, but is relatively narrow and of lower grade. Their January 2023 report recommended down-hole geophysics to see if there might be more significant mineralization away from that drill hole. However Moina has yet to return to the Balfour.
Interestingly, there is a connection between Moina Gold, the contractor who conducted the work for them (D&B Mining Pty Ltd) and Mallee Resources, the bankrupt owner of the Avebury Nickel mine. It’s a small world. Y'all can figure that one out on your own, if you're so inclined, but I'm guessing it holds clues as to who the new independent advisor might be ("a well known Au miner. A celebrity type exec.")
So to sum up, the Balfour copper fields were the site of several very small copper mines around the turn of the century which has since experienced several programs of exploration up until recently, demonstrating that some low-grade copper ore remains and is still open to depth (as per Moina Gold’s one drill hole), but it’s likely small, discontinuous, lower grade, and just one of 100’s of average exploration plays in Aus, certainly not a mine ready to go like the Avebury.
If this is truly the “cornerstone” of Hiru’s operations, their “flagship project”, either they don’t know a rock from a hard place, or they’re “pulling your legs”…
If you want to check out a proper copper project in this neck of the woods, read up on the Mt Lyell mine (Sibanye-Stillwater) located 100 or so km to the southeast in a very different package of rocks.
And by the way, it's not the 100 year old mining technology that's the issue here, it's the lack of copper - what's apparently left at Balfour is small, skinny, and fairly low grade.
ysung
11 hours ago
Big picture is even USA govt is pushing Arab nation to get into mining industry
How Gulf states are putting their money into mining
The US has been actively brokering Saudi, Emirati and Qatari investment in riskier jurisdictions, such as the Democratic Republic of Congo, where western companies struggle to enter, in order to keep China out, according to executives from mining companies and trading houses, as well as a senior US government official.
hardlesson
14 hours ago
I did see that a few times with VIRT. He was flashing in and out, I think around when OTCN started his bid. Hate to see VIRT, he used to be the guy that showed up for dilution and would kill momentum. (Though no dilution here atm.)
This is exactly what I mean about never trading without Level 2. I'm no L2 expert at all, but what you described in your post is exactly what happens sometimes. Control and intimidation by deep pockets, imo. Of course that gets cut through in time, when a stock has big ASK interest.