1
00:00:00,240 --> 00:00:02,000
Right O money wise. 
I'm looking forward to the 

2
00:00:02,000 --> 00:00:02,840
weekend. 
Ellie, are you? 

3
00:00:03,320 --> 00:00:04,960
Sure. 
And happy Friday, OK. 

4
00:00:05,240 --> 00:00:08,039
Friday, happy Friday and I think
we we joined forwards excellent 

5
00:00:08,200 --> 00:00:10,640
interview going live yesterday. 
I I actually reckon that the 

6
00:00:10,640 --> 00:00:13,000
late quarterly reporters out 
there thought they would get 

7
00:00:13,000 --> 00:00:16,040
away without a name and change. 
No, no, no, absolutely not. 

8
00:00:16,720 --> 00:00:18,640
Never fear, Ellie. 
We, we're, we're rolling it out 

9
00:00:18,640 --> 00:00:20,400
today. 
We, we, we never forget. 

10
00:00:20,400 --> 00:00:22,640
We never forget. 
And I'm gonna try my luck with 

11
00:00:22,640 --> 00:00:24,360
the new segment myself. 
I'm. 

12
00:00:24,640 --> 00:00:26,720
I've been thinking about some of
the deals I've seen in the last 

13
00:00:26,720 --> 00:00:27,640
week. 
There's five of them. 

14
00:00:27,640 --> 00:00:28,960
And I just keep thinking about 
them so much. 

15
00:00:28,960 --> 00:00:32,280
And I thought I'd rapid fire and
just tell you why they're still 

16
00:00:32,280 --> 00:00:33,880
interesting to me. 
The top five deals a week. 

17
00:00:33,880 --> 00:00:37,600
And spoiler, I actually think I 
got a bit too interested in one 

18
00:00:37,600 --> 00:00:39,280
of them, namely the one in a 
trading hall today. 

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00:00:39,280 --> 00:00:42,480
But first, Ali, I want you to 
picture something, OK? 

20
00:00:43,600 --> 00:00:46,040
Imagine you're the kind of minor
that truly cares about your 

21
00:00:46,040 --> 00:00:47,680
workers, but you're picturing 
it. 

22
00:00:47,960 --> 00:00:49,240
I'm picturing it. 
Yeah, you're not. 

23
00:00:49,240 --> 00:00:50,920
You're not the kind that's all 
talk, but the kind that really 

24
00:00:50,920 --> 00:00:52,400
gives a crap. 
You're you're growing 

25
00:00:52,400 --> 00:00:53,880
production, you're bringing new 
minds online. 

26
00:00:53,880 --> 00:00:56,680
It's time to show your workers 
that you care with the quality 

27
00:00:56,680 --> 00:00:58,880
of facilities they get while 
working away. 

28
00:00:59,120 --> 00:01:03,360
Don't install boring donners or 
a boring camp or you know, some 

29
00:01:03,360 --> 00:01:07,400
dry boring place for people to 
just sleep and exist. 

30
00:01:07,400 --> 00:01:09,880
Doesn't sound very fun. 
Make the accommodation as 

31
00:01:09,880 --> 00:01:12,280
comfortable as possible for the 
time you workers are away from 

32
00:01:12,280 --> 00:01:14,640
their families. 
This is where grounded comes in.

33
00:01:14,760 --> 00:01:16,920
The legends are grounded. 
Don't just install, they design 

34
00:01:16,920 --> 00:01:17,920
these things. 
Up they do. 

35
00:01:17,920 --> 00:01:22,000
No, they're full service from 
concept to completion and the 

36
00:01:22,000 --> 00:01:25,880
design side is super impressive.
The handle conceptual design, 

37
00:01:26,040 --> 00:01:29,920
feasibility studies, detailed 
renders, DA preparation and 

38
00:01:29,920 --> 00:01:32,480
submission and building perm 
applications, or just to name a 

39
00:01:32,480 --> 00:01:35,040
few. 
Your life is easy when when your

40
00:01:35,040 --> 00:01:38,840
work is a living in a five star 
resort in in the Bush, Ali, 

41
00:01:38,840 --> 00:01:42,360
that's like this is a five star 
FIFO camp. 

42
00:01:42,360 --> 00:01:44,040
That's what this is. 
You need to review on these 

43
00:01:44,040 --> 00:01:46,280
things like Google reviews. 
If if you Google reviewed 

44
00:01:46,560 --> 00:01:48,400
grounded camps, they'd be 
that'll be 5 stars. 

45
00:01:48,560 --> 00:01:50,960
These are five stars. 
You can even check out a few. 

46
00:01:51,040 --> 00:01:54,080
I mean you've got the the 
Rockley Palms 1 they did for Rio

47
00:01:54,080 --> 00:01:57,000
Tinto 262 new double Storey 
accommodation. 

48
00:01:57,440 --> 00:02:00,400
The one I it's a particular 
favorite of mine is the 

49
00:02:00,600 --> 00:02:04,120
Christmas creep at Fortescue. 
They put in an additional 200 

50
00:02:04,120 --> 00:02:06,640
rooms but my favorite bit they 
added a brand new Wellness 

51
00:02:06,640 --> 00:02:10,440
centre with a massage studio, a 
hair salon and yoga. 

52
00:02:10,800 --> 00:02:12,680
That is so cool. 
I love that you're ever going to

53
00:02:12,680 --> 00:02:14,880
go FIFO, Ally. 
I think I know which which. 

54
00:02:14,960 --> 00:02:16,160
Companies, you've got to check 
that there's a. 

55
00:02:16,200 --> 00:02:18,040
Join Ford SQ in requesting 
Christmas Creek. 

56
00:02:18,040 --> 00:02:20,480
Yeah, I've. 
Got I'm going to need somewhere 

57
00:02:20,480 --> 00:02:23,960
to do my reformer plan. 
Love it to care about your 

58
00:02:23,960 --> 00:02:24,600
workers. 
Prove it. 

59
00:02:24,600 --> 00:02:25,840
Get grounded to make their life 
better. 

60
00:02:26,120 --> 00:02:27,840
Go grounded. 
All right, Ally. 

61
00:02:28,640 --> 00:02:30,760
So I've got some, I've got some,
some deals that have piqued my 

62
00:02:30,760 --> 00:02:33,480
interest over the last few days.
I thought, I thought I'd, yeah, 

63
00:02:33,480 --> 00:02:34,720
just wrap it into a bit of a 
segment. 

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00:02:34,720 --> 00:02:37,840
And normally when there's a 
deal, we do a like a, a 

65
00:02:38,000 --> 00:02:40,440
relatively thorough breakdown. 
But today I just wanted to RIP 

66
00:02:40,440 --> 00:02:43,320
through, you know, a few of the 
ones that that over the last few

67
00:02:43,320 --> 00:02:45,520
days I've just found, like, 
pretty damn interesting. 

68
00:02:45,880 --> 00:02:48,280
What's top of your list, Trev? 
What's #1. 

69
00:02:49,280 --> 00:02:52,280
The Alkane Mandalay merger, I 
know JD talked about this 

70
00:02:52,520 --> 00:02:54,840
already the day it came out, but
I keep, I just keep thinking 

71
00:02:54,840 --> 00:02:56,200
about it. 
It's it's, it's actually a 

72
00:02:56,200 --> 00:02:58,200
really interesting deal to me. 
Both Alkane and Mandalay, 

73
00:02:58,200 --> 00:03:00,960
they're in that subscale kind of
producer cohort. 

74
00:03:00,960 --> 00:03:02,680
So it's it's easy to overlook 
them. 

75
00:03:03,320 --> 00:03:05,840
This is a new premium merger. 
The pro forma is a billion 

76
00:03:05,840 --> 00:03:09,080
dollar company and they're going
to produce 160,000 ounces of 

77
00:03:09,080 --> 00:03:12,760
gold in 2025. 
The tie up kind of catapults 

78
00:03:13,200 --> 00:03:15,480
them just from a production 
perspective into a different, 

79
00:03:15,760 --> 00:03:18,600
completely different P set that 
warrants kind of new eyeballs. 

80
00:03:19,280 --> 00:03:22,120
Yeah, you know, they kind of 
move out of the the category of 

81
00:03:22,120 --> 00:03:25,720
peers that are all, all in that 
kind of subscale production when

82
00:03:25,720 --> 00:03:27,920
you're doing your, you know, you
go producer peer comps. 

83
00:03:28,160 --> 00:03:31,120
So like there's a there's a 
smaller scale production cohort 

84
00:03:31,120 --> 00:03:34,080
with like blackout maker, you 
know, Bacon, Kingsgate, those 

85
00:03:34,080 --> 00:03:36,760
guys that don't get as much 
attention and they'll they move 

86
00:03:36,760 --> 00:03:38,600
into that peer group. 
It's like Bellevue, Ventura 

87
00:03:38,600 --> 00:03:42,000
Catalyst or Banda. 
It's on, it's on. 

88
00:03:42,080 --> 00:03:44,160
It's honestly what their 
performing production is. 

89
00:03:44,160 --> 00:03:45,840
It's going to be more than 
Capricorn and Emerald, but 

90
00:03:45,840 --> 00:03:47,800
obviously different unit costs 
and growth outlook. 

91
00:03:47,880 --> 00:03:50,480
So not, not visa fee, but I 
just, I've just found it 

92
00:03:50,480 --> 00:03:53,240
interesting. 
These are a bunch of small mines

93
00:03:53,240 --> 00:03:55,240
that are in the portfolio. 
Small mines are typically high 

94
00:03:55,240 --> 00:03:59,080
cost, high cost equals leverage.
So, you know, it's not like 

95
00:03:59,680 --> 00:04:02,080
it's, it's not a simple story. 
It's definitely like, you know, 

96
00:04:02,080 --> 00:04:03,360
there's a lot of stuff going 
around. 

97
00:04:04,000 --> 00:04:07,560
But, but I, I still find it 
interesting that production 

98
00:04:07,560 --> 00:04:10,520
profile is, is it's now more 
than respectable and to get like

99
00:04:10,680 --> 00:04:12,200
a, a new premium deal over the 
line. 

100
00:04:12,200 --> 00:04:15,160
I think it, it works for all 
shareholders of both companies. 

101
00:04:15,520 --> 00:04:18,000
That's why I'm a fan of it. 
I'm kind of curious if someone 

102
00:04:18,000 --> 00:04:22,960
tries to to to interlope in some
way now that Mandalay is, is 

103
00:04:22,960 --> 00:04:27,040
effectively in play without a, a
new like with a new premium in 

104
00:04:27,040 --> 00:04:29,840
this merger, someone could come 
in if they wanted to, to pay a, 

105
00:04:29,960 --> 00:04:33,320
you know, a premium. 
Yeah, OK, Lots of goldies want 

106
00:04:33,320 --> 00:04:34,880
growth, right? 
And and here he's here. 

107
00:04:34,880 --> 00:04:37,440
He's here's something you don't 
you don't need to pay too much 

108
00:04:37,520 --> 00:04:42,040
of A premium to get it it. 
But you know, the the other side

109
00:04:42,040 --> 00:04:44,760
of that argument of it being a 
target for an intellect bro, 

110
00:04:45,120 --> 00:04:46,880
like this is a merger of 
vehicles with with minimal 

111
00:04:47,120 --> 00:04:50,560
premium cross cross-border with 
a bit of, you know, lagging and 

112
00:04:50,560 --> 00:04:52,680
currency risks. 
So there's there's a fair bit 

113
00:04:52,720 --> 00:04:55,040
higher up the execution 
difficulty difficulty curve for 

114
00:04:55,040 --> 00:04:56,840
someone to really try to get it 
get in the way here. 

115
00:04:56,840 --> 00:05:01,800
Warranty into like fascinating 
and #2 you've got resolute 

116
00:05:01,800 --> 00:05:05,800
buying Cote d'ivo growth 
projects from Anglo Gold 

117
00:05:05,800 --> 00:05:08,280
Ashanti, so a bit of a move away
from Mali. 

118
00:05:08,440 --> 00:05:10,760
Mali's Mali's been Mali's. 
Been tricky for Resolute but 

119
00:05:10,760 --> 00:05:12,120
this one really caught my 
attention yesterday. 

120
00:05:12,840 --> 00:05:14,920
It looks a a really interesting 
deal. 

121
00:05:15,160 --> 00:05:16,920
So Resolute they've they've 
purchased Anglo Gog's 

122
00:05:16,920 --> 00:05:20,200
development projects in Cote 
d'Ivoire, namely Deropo and ABC 

123
00:05:20,320 --> 00:05:22,800
project. 
They're only paying USA $150 

124
00:05:22,800 --> 00:05:26,120
million in staged payments. 
There's a royalty on the earlier

125
00:05:26,160 --> 00:05:30,360
stage 1 and a small, small 
contingent in in addition, but 

126
00:05:30,600 --> 00:05:33,560
Deropa is the more advanced 
project of of the two. 

127
00:05:33,560 --> 00:05:36,760
And this came into Anglo Gold's 
portfolio via the acquisition of

128
00:05:36,760 --> 00:05:39,240
Sentiment last year. 
Sentiment's got that giant mine 

129
00:05:39,240 --> 00:05:41,760
in Egypt and this was the 
development project that was 

130
00:05:41,960 --> 00:05:44,040
less interesting clearly to to 
Anglo Gold. 

131
00:05:45,000 --> 00:05:49,360
What, what, what the DFS was 
done on Deropo just last year in

132
00:05:49,360 --> 00:05:54,160
2024, which showed 167,000 oz 
production profile for 1010 

133
00:05:54,160 --> 00:05:57,280
years. 
And the CapEx is it's like it's 

134
00:05:57,280 --> 00:05:59,120
decent CapEx right US $400 
million. 

135
00:05:59,120 --> 00:06:01,840
But there's there's quite an 
interesting project here to just

136
00:06:01,960 --> 00:06:04,800
to my eyes and it doesn't scream
out of this world inexpensive 

137
00:06:04,960 --> 00:06:08,680
price to be to be paying for a 
pretty respectable production 

138
00:06:08,680 --> 00:06:10,400
profile. 
Yeah, fascinating. 

139
00:06:10,400 --> 00:06:11,320
Don't know. 
What you thought of it, Al? 

140
00:06:13,000 --> 00:06:17,960
I actually, I just caught up on 
it now, so I'm learning about it

141
00:06:18,240 --> 00:06:20,480
just as we speak. 
So no. 

142
00:06:21,240 --> 00:06:24,280
I think it's in a part of Cote 
d'Ivoire that that, yeah, like 

143
00:06:24,280 --> 00:06:26,520
it's, I mean, Cote d'Ivoire is 
one of the more attractive 

144
00:06:26,520 --> 00:06:28,960
countries to operate, but 
there's variation in different 

145
00:06:28,960 --> 00:06:30,800
parts of the region. 
I'm not quite sure if this is 

146
00:06:30,800 --> 00:06:33,000
the, you know, the simplest part
of Cote d'Ivoire to operate in. 

147
00:06:33,000 --> 00:06:36,360
However, on paper, like I'm 
pretty interested in this deal 

148
00:06:36,360 --> 00:06:38,400
and I think it's a really 
interesting move by by Resolute,

149
00:06:38,400 --> 00:06:41,880
you'd you'd have imagined that 
that like Anglo Gold would have 

150
00:06:41,880 --> 00:06:45,520
run a process to to sell this. 
But the way that this came out, 

151
00:06:45,520 --> 00:06:48,640
there was like a swap of tenant 
like resolutes tenements in 

152
00:06:48,640 --> 00:06:50,000
Guinea. 
That was kind of part of it all.

153
00:06:50,160 --> 00:06:52,640
It screamed a bit bilateral, 
which if it was bilateral, 

154
00:06:52,640 --> 00:06:55,200
that's a pretty cool outcome for
for Resolute, but you would have

155
00:06:55,200 --> 00:06:57,320
imagined there was a process. 
But anyway, I just find it 

156
00:06:57,320 --> 00:06:59,480
interesting. 
Takes me to my third deal, Ally.

157
00:06:59,480 --> 00:07:01,680
This is a very funny 1 I think. 
Yeah. 

158
00:07:01,680 --> 00:07:04,600
So we're pivoting now to TIN. 
Tin and Morocco. 

159
00:07:04,600 --> 00:07:07,640
So Atlantic tin is getting 
acquired by Zhengy. 

160
00:07:07,640 --> 00:07:09,160
Inner Inner Mongolia, they're 
called. 

161
00:07:09,160 --> 00:07:11,120
This is hilarious for a couple 
of reasons. 

162
00:07:11,120 --> 00:07:14,920
Atlantic TIN is what became of 
the old ASX listed Kasbar 

163
00:07:14,960 --> 00:07:18,160
resources for the people that 
are rolled enough to to remember

164
00:07:18,160 --> 00:07:21,560
Kasbar that was working on 
developing A-Team project in in 

165
00:07:21,560 --> 00:07:24,840
Morocco. 
And when when that stopped being

166
00:07:24,840 --> 00:07:27,680
listed on the ASX and I'd have 
to do my research to to 

167
00:07:27,680 --> 00:07:30,240
understand all the history there
effectively became majority 

168
00:07:30,240 --> 00:07:33,960
controlled by Parlor. 
And now that there's a a deal in

169
00:07:33,960 --> 00:07:38,120
place for the project to be sold
to Genie in in Mongolia for what

170
00:07:38,120 --> 00:07:42,880
is a total equity value of 
$98,000,000 cash, The 

171
00:07:42,880 --> 00:07:45,480
fascinating thing about the 
announcement that's popped up, 

172
00:07:45,480 --> 00:07:48,480
it reveals the premium to last 
traded price is a. 

173
00:07:49,680 --> 00:07:55,560
Last traded price was about five
years ago though. 1500% those 

174
00:07:55,560 --> 00:07:58,840
lucky Casbar shareholders who 
maybe they, I know, I know some 

175
00:07:58,840 --> 00:08:00,600
of them are a bit grumpy, but 
some of them probably thought 

176
00:08:00,600 --> 00:08:02,960
there's, there's, there's, 
there's there's no light at the 

177
00:08:02,960 --> 00:08:05,480
end of the tunnel. 
There's a yeah, I think, I think

178
00:08:05,640 --> 00:08:07,200
some of them are still pretty, 
pretty frustrated. 

179
00:08:07,200 --> 00:08:10,120
But regardless, that's a, that's
an astounding, an astounding 

180
00:08:10,120 --> 00:08:12,000
premium to ever say even though 
that was five years. 

181
00:08:12,000 --> 00:08:13,320
Ago. 
Don't say that everyday you 

182
00:08:13,880 --> 00:08:14,120
don't. 
Oh. 

183
00:08:15,280 --> 00:08:18,200
Love it #4 Ellie this. 
Ever got? 

184
00:08:18,360 --> 00:08:21,840
This was Tabani, yeah. 
The the, you know, African gold 

185
00:08:21,840 --> 00:08:25,320
developer, they, they announced 
this financing from Eagle Eye 

186
00:08:25,400 --> 00:08:27,360
Asset Management. 
They basically merged with a 

187
00:08:27,360 --> 00:08:31,200
strategic equity investment from
Eagle Eye of around $15 million 

188
00:08:31,800 --> 00:08:36,320
plus a non binding intention for
USA, $160 million debt facility 

189
00:08:36,320 --> 00:08:38,039
non binding. 
So you can't take up a grain of 

190
00:08:38,039 --> 00:08:39,280
salt. 
But regardless, it is 

191
00:08:39,280 --> 00:08:42,600
interesting because this family 
office Eagle Eye Asset 

192
00:08:42,600 --> 00:08:45,520
management, they keep popping up
everywhere on African 

193
00:08:45,520 --> 00:08:46,680
Development. 
What other? 

194
00:08:47,200 --> 00:08:49,960
What other projects are they? 
Companies are getting involved. 

195
00:08:50,040 --> 00:08:53,680
Massive shareholder of Canyon, 
massive, massive shareholder of,

196
00:08:53,720 --> 00:08:56,360
of Prospect Resources. 
And now, now to Barney. 

197
00:08:56,360 --> 00:08:58,720
But it's I, I talked about it on
the party the other day. 

198
00:08:58,720 --> 00:09:01,240
It's, it's this bit like family 
office based in Singapore. 

199
00:09:01,240 --> 00:09:03,840
And while not explicitly stating
it's the family office of Gareth

200
00:09:03,840 --> 00:09:07,200
Gupta, it appears to be Gareth 
Gupta's family office. 

201
00:09:07,800 --> 00:09:11,600
Yeah, that, but you know, like 
those three companies that, that

202
00:09:11,600 --> 00:09:13,880
that's the spread of bauxite, 
copper and gold in three 

203
00:09:13,880 --> 00:09:15,600
different African countries as 
well. 

204
00:09:15,600 --> 00:09:18,680
So there's a lot of diversity to
what they're doing, but I'm kind

205
00:09:18,680 --> 00:09:20,720
of interested in their strategy 
and what they're doing and, and 

206
00:09:20,720 --> 00:09:22,360
why and the decisions they're 
making. 

207
00:09:22,360 --> 00:09:25,200
So 11 I'm keeping an eye on. 
And to Barney, they've had a 

208
00:09:25,200 --> 00:09:27,800
nice recovery after wearing a 
lot of the collateral damage 

209
00:09:27,800 --> 00:09:30,840
from, you know, the drama that 
that unfolded, especially in 

210
00:09:30,840 --> 00:09:33,080
relation to to resolute in in 
Mali. 

211
00:09:33,400 --> 00:09:36,040
The share price is ticking back 
towards kind of levels where it 

212
00:09:36,040 --> 00:09:38,840
saw in in November last year. 
Yeah, it's pretty, pretty much 

213
00:09:38,840 --> 00:09:41,280
almost back there now. 
So you know there'll be an 

214
00:09:41,280 --> 00:09:45,440
exciting one to watch. 
And the fifth one Ally got gold 

215
00:09:45,440 --> 00:09:48,480
Rd. goldfields. 
I I am oops on this front. 

216
00:09:48,480 --> 00:09:51,080
I don't, I don't know if I don't
know if I caused this, don't 

217
00:09:51,080 --> 00:09:55,240
know if it was if it was me, but
Friday morning our our daily 

218
00:09:55,480 --> 00:09:56,640
e-mail. 
So this morning the director 

219
00:09:56,640 --> 00:10:01,680
special goes out 8:28 AM per 
time, 9 minutes later, 8:37 AM 

220
00:10:01,680 --> 00:10:03,160
per time Gold Rd. pauses 
trading. 

221
00:10:03,680 --> 00:10:06,960
How those things related. 
I included a rumour in in our 

222
00:10:07,480 --> 00:10:09,960
daily e-mail, the director 
special that Gold Rd. may have 

223
00:10:09,960 --> 00:10:13,280
received a best and final offer 
from Goldfield's a few days ago.

224
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And in Gold Rd's trading halt, 
they reference, they reference 

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trading holders requested 
following media speculation 

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regarding a potential change of 
control transaction. 

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And the second point is that 
they'll come out of trading halt

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on or before market open on 
Tuesday next week by provision 

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of an announcement to ASX 
regarding the corporate 

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transaction. 
I don't think there was any 

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other reporting on this rumour. 
I'm not sure, I'm not sure how 

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to feel about this one. 
But it looks like just the way 

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that they were. 
It looks like there was 

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certainly some, some, some some 
degree of truth to that rumour. 

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Because you would, you would 
not, yeah, your strategy would 

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00:10:49,720 --> 00:10:51,320
be different if it wasn't true 
to this. 

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You kind of, you would just 
rebut the market rumours. 

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If it was just something that 
newsletter that was wrong, you 

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00:10:57,120 --> 00:10:59,160
probably wouldn't even feel the 
need to make an ASX 

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announcement, to be honest. 
So I feel like if, if it was the

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00:11:02,280 --> 00:11:05,320
newsletter, my rumour, I don't 
know how I feel about that one. 

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But regardless, the, it appears 
there's actually a deal in 

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00:11:08,080 --> 00:11:10,320
motion. 
And, and you know, my, my base 

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case is I expect to see 
revelation of what that deal is 

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00:11:13,560 --> 00:11:17,320
whenever they come out of trade,
be it Monday or Tuesday. 

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00:11:17,480 --> 00:11:19,000
Yeah. 
And if there is something sort 

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00:11:19,000 --> 00:11:22,160
of seems to be coming along the 
way, it's hopefully it's a great

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00:11:22,160 --> 00:11:23,960
outcome for for both sets of 
shareholders. 

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So we'll have to wait and see. 
Indeed, Ali, indeed, Speaking of

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00:11:29,000 --> 00:11:33,760
great outcomes for shareholders,
how about the how about the 

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00:11:33,760 --> 00:11:38,320
companies that reported at like 
7:00 PM on, on the 30th of 

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April, the quarterly report? 
The old quarterly name and shame

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segment. 
So you're right Trevor is that 

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time of year again. 
So for those who aren't super 

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00:11:48,640 --> 00:11:53,080
familiar, mining companies like 
non producers have to put out 

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their Appendix 5B, which is 
basically their quarterly report

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00:11:56,320 --> 00:11:59,280
or no later than the last day of
the month following the 

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completion of reporting quarter.
So in this quarter's Case, No 

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00:12:02,960 --> 00:12:06,320
later than the 30th of April for
the court ending 31st March. 

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And and naturally, you know, 
there is a bunch of companies 

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that leave this quarterly 
report, you know, to be released

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00:12:13,760 --> 00:12:15,760
on a six to the last day 
possible. 

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00:12:16,120 --> 00:12:20,120
But then there's also a a cohort
that leave it to the absolute 

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00:12:20,120 --> 00:12:23,480
latest on the last day possible.
You know, aftermarket. 

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The, the thing that baffles me 
is it there is no, it is not a 

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00:12:28,960 --> 00:12:33,680
surprise or some sort of new 
revelation that mining companies

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00:12:33,680 --> 00:12:36,920
have to report by a certain time
each quarter. 

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00:12:37,680 --> 00:12:41,080
So I I don't understand why some
companies leave it so late. 

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00:12:41,160 --> 00:12:43,880
Perhaps that's just life. 
Doing what? 

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00:12:43,880 --> 00:12:46,440
Ali I don't know, The repeat 
offenders pop up time and time 

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00:12:46,440 --> 00:12:47,800
again. 
I actually think they're doing 

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00:12:47,800 --> 00:12:49,440
it for the marketing now, like 
maybe. 

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Who knows who knows, but let's 
let's get into it. 

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00:12:55,120 --> 00:12:59,320
Let's let's do I'm going to do a
a a rapid fire on on the top 

275
00:12:59,320 --> 00:13:04,120
five and the the next 5 after 
they will get a special meeting.

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00:13:04,120 --> 00:13:07,440
All right. 
I'll kick it off Ally. 7:16 PM 

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00:13:07,440 --> 00:13:09,920
Vertex. 
This was the the latest of all 

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00:13:09,920 --> 00:13:11,360
of them $40 million market cap 
Gold Co. 

279
00:13:11,360 --> 00:13:13,720
It looked like they've been 
keeping busy at their reward 

280
00:13:13,720 --> 00:13:18,080
gold project in NSW, refurb 
their 110,000 tonne per annum 

281
00:13:18,080 --> 00:13:20,880
Gecko gravity gold plant, plant 
commissioning commenced and 

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00:13:21,160 --> 00:13:22,800
they've started producing from 
their stockpile. 

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00:13:22,800 --> 00:13:24,680
Why did they report at the last 
minute if they've got something 

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00:13:24,680 --> 00:13:25,360
to update? 
I'm confused. 

285
00:13:25,360 --> 00:13:28,560
They've actually commenced 
underground mining development 

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00:13:28,560 --> 00:13:29,480
at reward. 
Interesting. 

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00:13:29,680 --> 00:13:33,040
Yeah, so I would hope that they 
are using some Sandvik Ground 

288
00:13:33,040 --> 00:13:35,160
support when they're doing the 
underground development there at

289
00:13:35,160 --> 00:13:37,480
Reward. 
It's the only name you need to 

290
00:13:37,480 --> 00:13:39,880
know. 
You can get a whole ground sport

291
00:13:39,880 --> 00:13:43,120
kit and kaboodle sorted for you 
by Derek, Kurt and the legendary

292
00:13:43,120 --> 00:13:48,320
team at Sandvik Ground Support. 
That is the absolute bare 

293
00:13:48,320 --> 00:13:51,000
minimum you need to be doing Ali
if you're underground mining and

294
00:13:51,000 --> 00:13:54,240
if you're if you're bare minimum
you need to be doing is 

295
00:13:54,240 --> 00:13:56,000
reporting on time. 
Bare minimum you need to be 

296
00:13:56,000 --> 00:13:59,720
doing is using DSI or Britain's 
Sandvik ground support and 

297
00:13:59,720 --> 00:14:02,200
getting in touch with Derek 
Kerr, the legendary team that is

298
00:14:02,200 --> 00:14:05,440
there because they have split 
sets, mesh, POSI box, NB, Xbox 

299
00:14:05,440 --> 00:14:08,120
dynamic support, static support 
and heaps more. 

300
00:14:08,280 --> 00:14:10,400
Trav's even got the T-shirt on 
today. 

301
00:14:10,640 --> 00:14:13,560
Have a flick around Travis. 
Show the money miners what's on 

302
00:14:13,560 --> 00:14:17,000
the back of your shirt. 
It says on there for the audio 

303
00:14:17,000 --> 00:14:19,480
views. 
We keep people safe. 

304
00:14:19,760 --> 00:14:22,080
What more could you want? 
I feel safe wearing it, Ali. 

305
00:14:22,920 --> 00:14:24,760
Keeping your ground and people 
safe. 

306
00:14:24,760 --> 00:14:27,440
Go Sandy, go Sandy. 
Actually I just, I just figured 

307
00:14:27,440 --> 00:14:29,400
out why they probably reported 
at the very last minute Ali, 

308
00:14:29,400 --> 00:14:33,120
they're, they're gone mining 
with only $1.4 million cash left

309
00:14:33,120 --> 00:14:34,680
at the bank so. 
Yeah. 

310
00:14:34,680 --> 00:14:38,960
So hopefully some of the, 
hopefully some of the proceeds 

311
00:14:38,960 --> 00:14:42,880
from processing the stockpiles 
can keep them going. 

312
00:14:42,880 --> 00:14:46,360
But yeah, it sounds like they've
been quite, quite busy. 

313
00:14:47,680 --> 00:14:51,240
Second one, this is a previous 
offender last quarter, Anika 

314
00:14:51,240 --> 00:14:53,720
Tambang. 
I hadn't really heard of this 

315
00:14:53,720 --> 00:14:56,600
company before. 
They look like a big Indonesian 

316
00:14:56,600 --> 00:14:59,360
miner sort of producing and 
processing a range of different 

317
00:14:59,360 --> 00:15:01,640
commodities. 
It sort of appears like their 

318
00:15:01,640 --> 00:15:04,720
main listing is on the 
Indonesian Stock Exchange and 

319
00:15:04,760 --> 00:15:08,480
they've got like some sort of a 
smaller listing on ASX looks 

320
00:15:08,480 --> 00:15:10,600
like around like a 4 billion 
market cap, Aussie dollar 

321
00:15:10,600 --> 00:15:13,240
equivalent. 
So not the usual sort of, you 

322
00:15:13,240 --> 00:15:17,240
know, company we say in this 
segment. 707 Alpha Minerals, 

323
00:15:17,320 --> 00:15:19,640
precious based metals mineral $5
million market cap, some 

324
00:15:19,640 --> 00:15:23,240
Brazilian expiration assets only
had 400K in the in the bank at 

325
00:15:23,240 --> 00:15:25,960
the 31st of March. 
From the 31st of March onwards, 

326
00:15:27,000 --> 00:15:29,520
they've they've, they've, 
they've done a letter of intent 

327
00:15:29,520 --> 00:15:32,800
with Pan American Silver Corp. 
They've you know, they're doing 

328
00:15:32,800 --> 00:15:34,240
some doing some DD on that 
asset. 

329
00:15:34,240 --> 00:15:38,840
They did a bit of an entitlement
off our and top up, but yeah, 

330
00:15:38,840 --> 00:15:42,080
just a just another just another
junior keeping busy updating, 

331
00:15:42,560 --> 00:15:44,800
updating shareholders, raising a
bit of money to keep the lights 

332
00:15:44,800 --> 00:15:49,680
on and reporting light. 
Seven O 6 horseshoe medals, so 

333
00:15:49,680 --> 00:15:52,480
another exploration minnow about
11,000,000 market cap. 

334
00:15:52,520 --> 00:15:54,120
This is like the fourth time 
they've been on this. 

335
00:15:54,120 --> 00:15:56,000
List, yeah, I think they've come
up a few times. 

336
00:15:57,720 --> 00:16:00,320
So they're focused on very 
commencing development 

337
00:16:00,320 --> 00:16:03,280
activities at their Horseshoe 
Lights Copper Gold project in 

338
00:16:03,280 --> 00:16:05,680
WA. 
I signed a deal with Melody Gold

339
00:16:05,680 --> 00:16:08,720
for the right to process certain
sort of gold surface materials 

340
00:16:08,720 --> 00:16:11,160
at Horseshoe. 
They're continuing to pursue 

341
00:16:11,160 --> 00:16:13,520
early cash flow opportunities 
from DSO, sales of existing 

342
00:16:13,520 --> 00:16:16,800
copper stockpiles and 
discussions with copper con off 

343
00:16:16,800 --> 00:16:19,040
tech partners. 
I sort of look through the last 

344
00:16:19,440 --> 00:16:24,200
few quarterlies that that's sort
of been mentioned in all last. 

345
00:16:24,680 --> 00:16:26,720
It seems to be going on for a 
while basically. 

346
00:16:26,920 --> 00:16:29,240
What hasn't been going on for a 
while is that that $4 million 

347
00:16:29,240 --> 00:16:31,880
con note that was I think that 
was announced like aftermarket 

348
00:16:31,880 --> 00:16:33,520
on a Friday one week during the 
quarter. 

349
00:16:33,600 --> 00:16:35,360
And it's a bit gnarly in my 
opinion. 

350
00:16:35,520 --> 00:16:38,160
Yeah. 
And then they are also doing a 

351
00:16:38,200 --> 00:16:41,680
strategic review of the Glenloth
Gold project in SA, which is 

352
00:16:41,880 --> 00:16:46,160
next to Barton Gold's tongue, 
Killia. 7:02 PM Paterson 

353
00:16:46,200 --> 00:16:49,240
Resources Gold Explorer out in 
the Paterson province of WA. 

354
00:16:49,320 --> 00:16:51,520
Name suggests it's all very 
light on the news front. 

355
00:16:51,520 --> 00:16:54,880
Only one project related 
announcement in the six months, 

356
00:16:54,880 --> 00:16:57,200
which is a Geocam test test work
result last week. 

357
00:16:57,240 --> 00:16:58,640
Quarterly reports. 
Pretty light on too. 

358
00:16:58,840 --> 00:17:01,440
What really matters here, 
$2,000,000 in the bank, probably

359
00:17:01,440 --> 00:17:03,040
way up a little late. 
Special mentions Ali. 

360
00:17:03,040 --> 00:17:06,280
Who have you got? 
Alrighty, we got 657 Helix 

361
00:17:06,280 --> 00:17:13,359
Resources, 656 Rarex 653M3 
Mining, 650 Ascari Metals and 

362
00:17:13,359 --> 00:17:15,920
647 Macro Metals. 
Alright. 

363
00:17:16,079 --> 00:17:18,839
Get your reports in earlier next
time please, Companies I. 

364
00:17:18,839 --> 00:17:24,240
Think I did suggest last time a 
carrier pigeon or I think I 

365
00:17:24,240 --> 00:17:27,760
provided a, a, a YouTube guide 
link on how to set outlook 

366
00:17:27,760 --> 00:17:30,400
reminders so that I'm sure 
there's a whole range and other 

367
00:17:30,400 --> 00:17:34,320
tools and that. 
So try and try and improve a bit

368
00:17:34,320 --> 00:17:37,360
better next quarter, guys. 
I reckon, I reckon, I reckon the

369
00:17:37,360 --> 00:17:41,400
call to action is, is very valid
and I'll, I'll be looking into 

370
00:17:41,400 --> 00:17:44,680
that carrier fridge and process 
inside the next reporting 

371
00:17:44,680 --> 00:17:46,920
period. 
But I want to thank our partners

372
00:17:47,200 --> 00:17:49,960
much more promptly than than a 
carrier pidgeon would. 

373
00:17:50,520 --> 00:17:52,760
Who have we got Ali, our 
wonderful partners mineral 

374
00:17:52,760 --> 00:17:55,280
mining services, We've got, 
we've got a conference, GRX 

375
00:17:55,280 --> 00:17:56,920
conference by the way too. 
If you want to head to that. 

376
00:17:56,960 --> 00:17:59,440
We've got a discount code in the
show notes for you to use to get

377
00:18:00,200 --> 00:18:01,680
like nearly 200 bucks off the 
tickets. 

378
00:18:01,680 --> 00:18:03,520
You may as well do it. 
It's it's in Brisbane on the 

379
00:18:03,600 --> 00:18:07,680
20th of 22nd of May 19. 
Get around it grounded 

380
00:18:07,880 --> 00:18:10,440
wonderful, wonderful partner 
Sandvik ground support. 

381
00:18:10,440 --> 00:18:15,520
The only support you will ever 
need CRE insurance, K drill, KCI

382
00:18:15,520 --> 00:18:18,400
site services, black diamond 
drilling services, S 

383
00:18:18,400 --> 00:18:21,480
consumables, cross boundary 
energy, WA water borders, the 

384
00:18:21,640 --> 00:18:24,000
premier water well drilling 
company and Quattro project 

385
00:18:24,000 --> 00:18:26,000
engineering. 
Don't get around all of our 

386
00:18:26,000 --> 00:18:27,800
partners, Ellie. 
Pedro, Pedro. 

387
00:18:29,080 --> 00:18:31,640
Information contained in this 
episode of Money of Mine is of 

388
00:18:31,640 --> 00:18:33,680
general nature only and does not
take into account the 

389
00:18:33,680 --> 00:18:37,320
objectives, financial situation 
or needs of any particular 

390
00:18:37,320 --> 00:18:39,360
person. 
Before making any investment 

391
00:18:39,360 --> 00:18:42,400
decision, you should consult 
with your financial advisor and 

392
00:18:42,400 --> 00:18:45,560
consider how appropriate the 
advice is to your objectives, 

393
00:18:45,760 --> 00:18:47,720
financial situation and needs.