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  • 2 years later...

There has been a spike of interest in this company over the last few weeks, following the release of drill hole data from their JV with Toro in the Kokumbo exploration permit in southern Cote DÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢Ivoire. TheyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ve drilled 15 diamond drill holes and 71 RC holes. They released data on 3 of the Diamond drill on 13 May, and data from the remaining 12 on 14 June. Data from the first three diamond drill holes was really good and was associated with an initial SP spike to .9c. The data from remaining 12 was somewhat dull (to a non-geo at any rate) and the price fell back to .4c.


Then on 23 June they released ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“excellentÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ results from the RC drilling programme and the share price has since spiked to 2.3 cents. This time they have released data from 8 holes out of the total of 71. If they repeated the same trick as they did with the diamond drilling results, IÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢d be inclined to say the SP has done its dash. But a quick rumour mill analysis (see chart below) suggests that may not be the case.


The SP initially lifted to multiples of the 0.2c base line in April. The spike of .9c occurred just minutes before the initial diamond drill data was released, but interest had developed over the previous 6 weeks. Interest waned in the four weeks prior to the release of the second batch of diamond drill data and even the first batch of RC data only brought the SP back to .8c. The latest spike occurred on 7 July, 2 weeks after the first RC results and, unusually, a day after the company had protested in a speeding ticket reply on 6 July that they knew nothing more. So there seems to be a rumour of something good still running.


The companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s cash at the end of the June quarter was $904,000, just less than their spend of $1.0m for the previous 9 months. At the rate of spend predicted for the June quarter this will last them about 9 months from 31 March or 6 months from now. So it seems likely they will hit the market for a CR quite soon. My guess is theyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ll want to milk the drill hole results to the max, and if they believed the best was out, theyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢d have announced a CR already. My feeling is therefore that it may be worth hanging on a bit longer to see what happens.



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  • 2 months later...

They do have more announcements to make, but I've been a little disappointed in those made since my last post. I think I was caught up in the general euphoria having sold a slew of shares bought very cheaply in a previous CR. On reflection that euphoria was as much about the gold price as PDI. I'm slightly kicking myself for not selling out completely and buying back now, but that's hindsight for you.


Today they dipped below the current CR price for the first time.


I wonder if Melua still holds, after hanging on for so many years. There is certainly more going on now than there was two years ago, but whether it is enough for their salvation remains to be seen.

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  • 2 years later...

PDI have also just issued an ann - incredibly sad. https://www.asx.com.au/asxpdf/20190118/pdf/...yffq38kcpwk.pdf

Canadian geologist Kirk Woodman murdered in Burkina Faso


Kirk Woodman, vice-president of exploration for Vancouver-based private gold explorer Progress Minerals, was found dead on Jan. 16 in rural Burkina Faso, after having been abducted a day earlier by as-yet unidentified individuals.


According to a statement by Burkina Faso minister of foreign affairs Alpha Barry, Woodman was kidnapped near the village of Tiabangou at the Bira Trend exploration site of junior company Predictive Discovery (ASX: PDI), and his body was found bullet-riddled in Gorom-Gorom, within the Sahel Reserve in the countryâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s northeasternmost area near the borders with Mali and Niger.


Based in Halifax, N.S., Woodman joined Progress Minerals in 2017, having previously worked for Vancouver-based Endeavour Mining as vice-president of geology and general manager of exploration for French West Africa. Earlier in his 30-year career, he had worked for Halifax-based Etruscan Resources in West Africa.


The murder drew the attention of Canadian Minister of Foreign Affairs Chrystia Freeland, who said at a cabinet meeting in Sherbrooke, Que., that Woodmanâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s killing is a âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“terrible crime.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Canada is absolutely committed to working with the authorities in Burkina Faso to bring those responsible to justice. And I think our first thought today is with his family, with his friends who have received some really dreadful news,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ said Freeland, according to Canadian Press.


Woodmanâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s family also sent out a statement, according to Canadian Press: âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Kirk was a loving and hardworking husband, father, son and brother. Not a day will go by that he wonâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢t be missed. Our family would like to thank everyone for the love and support weâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ve received, but we ask for privacy while we grieve during this difficult time.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


The Burkina Faso governmentâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s Barry issued a statement in French: âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The government of Burkina condemns with the utmost energy this cowardly assassination and reassures that an investigation is underway and all measures will be taken to find and punish the guilty. The government shares the grief of family, loved ones and the Canadian government and offers them the deepest condolences.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


The Burkina Faso government had already declared a state of emergency in the region due to an increase in the number of attacks by Islamic extremist groups.


The attack on Woodman follows the kidnapping in the country of Quebec tourist Edith Blais and her Italian companion Luca Tacchetto in mid-December.


Progress Minerals has been working to earn a 70% interest in Bira Trend from Predictive Discovery by spending $5 million on exploration by October 2021, after which time a joint venture will be formed. Progress is on the cusp of earning its initial 51% interest after having spent its first $1 million.


This article first appeared in The Northern Miner.


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  • 2 years later...

early days ... had a bit of a run up then retreat , but still ahead 10% on the day.



New prospect

outstanding results from its first program of power auger drilling and rock chip sampling at its Koundian Project, 115km ENE of the Company's flagship Bankan Project, and part of Predictive's extensive Guinea landholdings .



Power auger drilling from the Koundian Project has returned shallow high grade gold along a corridor of interpreted NE orientated structures:

• 6m @ 32.0g/t Au from 4m (to EOH), incl. 4m @ 45.0g/t Au from 4m (KDNAU0473)

• 6m @ 9.8g/t Au from 4m (to EOH) (KDNAU0406)

• 6m @ 1.3g/t Au from 4m (to EOH) (KDNAU0546)

and raised $26M earlier in the month to fund 110,000m of drilling in their Guinea tenements

• 12 months' drilling since discovery has delineated a very substantial and expanding gold system at NE Bankan. The raising accelerates resource definition drilling, and immediate testing of nine high order near-regional targets. •

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  • 1 month later...

strong numbers and wide intersections (incl 12 g/t over nearly 50m), but at depth of 200 to 300m, coming out of the 4 DD holes at Bankan project in Guinea


............... up 45% when announced on Monday and holding on, going higher for the last few days

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  • 1 year later...

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