GW1 - Greenwing Resources

[frugal.rock]

I see BEM is pumping....
Oooh, Madasgar and graphite!.
I wonder when BSM gets noticed properly.
Maybe the comparison isn't fair....?

 

[frugal.rock]

Just announced.
EXPLORATION UPDATE
Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to provide investors with an update regarding further exploration success at the Company’s wholly owned Graphmada Mining Complex, located in eastern Madagascar.
HIGHLIGHTS
• Bass has completed a third phase of an exploration drilling program consisting of 84 shallow auger holes drilled to an average depth of 11m from surface.
• The program delivered excellent intersections of up to 11.5m @ 5.7% Fixed Carbon (FC), including 7.0m @ 7.5% FC.
• The low cost auger drilling confirms highly promising mineralization extends over 4.5 km long, immediately adjacent to well-established large flake graphite mining and processing infrastructure (the Graphmada Mining Complex).
• Significant upside remains in pursuing drilling beyond these shallow drill intercepts, as a majority of soft easily minable ore mined by Bass has occurred from surface to approximately 50 metres in depth.
• The drilling aims to increase the current Mineral Resource to facilitate future large scale mining and processing operations at Graphmada.
• The Company continues its care and maintenance program to retain operational readiness of its Stage 1 plant and infrastructure.

See annoyncement for further info.

 

[frugal.rock]

Another exploration update.

Decent results which they are pleased with.
JORC getting updated in "the next few weeks" or by the end of March being current quarter.

Have increased my holding today.

I like the potential, especially after seeing what BEM (Black earth Minerals) share price did after a nice announcement.
(They are both graphite mining in Madagascar.)

Worth doing your own research on this one, in my opinion.

 

[frugal.rock]

In addition to the above, there's further drilling currently taking place.
JORC due this month hopefully.

One may have noticed that most results so far are quite shallow at approx 12m depth being tested.

This testing is/ has been done by auger which is low cost, and shallow.
12m depth seems to be about the maximum for auger or until harder ground is struck.
(Results show maximums of around 12m depth for the auger drillings.)

Bass have stated that;

"A majority of the current regolith-hosted Mineral
Resource occurs from 10-50m. To date Bass has not yet extensively tested the known hard-rock mineralization at depth."

Further;

"Bass aims to continue shallow drilling at Graphmada to test the Ambatofafana prospect which has recorded outcropping graphite up to 11% FC.

The 131 drill hole program has commenced and will be completed prior to undertaking an extensive diamond drilling campaign across the mineralized footprint of Graphmada." *

So unless I have wires crossed, the JORC is currently being tabulated.
It's not a maiden JORC but will be a major upgrade I believe.

Then there's further shallow results being followed up with deeper diamond drilling.
It's not too much of stretch to envisage that the deeper drilling could end up doubling or tripling the JORC figures with the diamond drilling testing the 10 - 50m depth ranges, which is where the
"majority of the current regolith-hosted Mineral Resource occurs"

I am not sure what happened with Urbix last year, but I imagine they just need quantities firmed up before making a deal.
My best guess based on current actions by Bass.

Diamond drilling isn't cheap, so I would envisage either a deal with Urbix and mining restart based off the JORC, or a capital raise of sorts.
I do hope they don't dilute shares further. A consolidation at some point would be in order ... get the timing right please...?!

*(Quotes from ASX Announcement 2 March 2021)

 

[frugal.rock]

I found this interview from Morgans around 9 months old.

With monsoon season drawing to a close soon, I can see why their priorities are to firm up resources before they restart production after covid stoppage.

Doing something while they can't mine. With plant in maintenance mode, it shouldn't be too hard to restart, however, if something routine is going to break "because it's due", a restart is often when it will happen.

I found the interview informative.

 

[frugal.rock]

Announcement.
16/3/2021- Market Sensitive

41% INCREASE IN GRAPHITE MINERAL RESOURCE TO ADVANCE PLANS FOR LARGE SCALE MINING AND PROCESSING OPERATIONS.

Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to provide investors with an update on the significant increase in the Company’s Mineral Resources at the Graphmada Mining Complex (Madagascar).

KEY POINTS
• The Mineral Resource for Graphmada has increased by 41% to 20.2 million tonnes (Mt) of >90% large flake graphite (>180 microns) at 4.0% Total Graphitic Carbon (TGC).

• The Mineral Resource increase was established from augur drilling at 0-10 metres depth.
Deeper drilling to 10-50 metres depth will now be undertaken, aiming to increase the soft rock, easily mineable Mineral Resource.

• The Mineral Resource upgrade leads to a 42% increase in Contained Graphite to 815 kt at Graphmada.

• Measured and Indicated Mineral Resources have increased by 41% to 6.2 Mt at >90% large flake graphite at 4.3% TGC.

• Initial results from a preliminary drill program at Ambatofafana are highly encouraging, with graphite discovered outcropping at surface.

The 21 page announcement also contains a Technical Summary.

 

[frugal.rock]

TIM MCMANUS CEO:
“Over the last four years, Bass has made significant progress towards its objective of developing large-scale mining and processing operations at Graphmada.

During this period, Bass has met several key milestones, including:
• the total rebuild and recommissioning of the mine and supporting infrastructure;

• 20 months of continuous production the establishment of a consistent sales channels for Bass product

• an enviable record for the quality of its concentrates with no tonne being
penalized or rejected

• establishing a large and growing regolith hosted resource

• gaining of detailed production experience

• and an excellent safety and community relations record.

This significant upgrade in the resource base of the Company is another key milestone in the development of this commercially proven resource and is another step closer to Bass’ aim to establish the Company as a globally significant large flake graphite supplier, into both the specialty carbons and
battery minerals markets.”

 

[barney]

Tried to help out today @frugal.rock Bought a million at 007

Not a lot of Volume just yet, but might get a bit more attention with the positive Announcement

+ 40% increase in the resource is pretty impressive.

 

[frugal.rock]

+ 40% increase in the resource is pretty impressive.

And that's just 0 - 10 metres depth Mr B.
As previously said, after diamond drilling from 10 -50 metres, one could expect the resource to (at the very least) double in size....

Tripling in size would be a safe average guesstimate in my opinion. (Previously a Surveyor, I have a little experience in this field...)

 

[frugal.rock]

ASX Announcement just out.
23 March 2021

BASS JOINS EUROPEAN BATTERY ALLIANCE

Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to announce it has been accepted into the European Battery Alliance, a group created by the European Commission to foster collaboration between key participants in the battery materials sector.

HIGHLIGHTS
• The European Battery Alliance (EBA) established in October 2017 by the European Commission, the Executive Branch of the European Union, to bring together key stakeholders in the battery material, technology and
financing space with the objective to build a strong and competitive
European battery industry.

• Bass’ acceptance into the EBA aligns the Company’s strategy to become a global significant producer of graphite and advanced materials.

• Bass has an established presence in Europe having sold graphite concentrates across all specifications into the European Union inclusive of on specification Super Jumbo Flake Concentrates into Germany.

• As previously announced, Bass’ concentrates are highly suitable for use in battery anodes, due to the unique properties of Madagascan graphite1.

• With sales already established into the European Union, Bass is uniquely placed to leverage its recently upgraded and expanded Mineral Resource2 to meet the growing demand for sustainable feedstock required to produce electric vehicle battery anodes.

• Membership to EBA provides Bass the opportunity to collaborate with key European stakeholders, and end users seeking reliable, secure and
sustainable access to battery feedstock as part of the Europe’s increasing investment in the lithium-ion battery supply chain.

 

[barney]

ASF alert:

Party at @frugal.rock place for the rest of the month, lol me)

Nice when a plan comes together Rock ... Well done!

I see a few stale Bulls are trying to spoil the party at the 009-010 level To be expected

Once the 010 goes (this week ??) hopefully it will be away.

 

[frugal.rock]

ASF alert:

Party at @frugal.rock place for the rest of the month, lol me)

Nice when a plan comes together Rock ... Well done!

I see a few stale Bulls are trying to spoil the party at the 009-010 level To be expected

Once the 010 goes (this week ??) hopefully it will be away.

Cheers B, but the parties washed away...you might catch up to it downstream wrapped around a bridge pylon....

I'm hanging in there on a longer term than just a quick pop off on this one.

If the share price of BEM is any comparison, I'm holding out for at least a 10 bagger...or 7 cent.
However, not today banana, tomorrow banana.

 

[barney]

Cheers B, but the parties washed away...you might catch up to it downstream wrapped around a bridge pylon....

I know a guy who has a boat if that helps Also in the middle of a flood as many are at the moment.

I note a few sour grapes in that "other place" about the BSM boys and the time it's taken to get the ball rolling so to speak

Company has been in the wilderness for an extended period, but

That's generally the best time to buy in my book

Chart looks ready to jump if it gets a good reason

Low Market Cap of around $30 million

Only about $1 million in the kitty but the ship is tightly run (May need another CR soon. Hopefully after a price spike!)

The 009 level has been stubborn today, but the news will only be half filtered through the market today

Tomorrow's Open will hopefully paint a more positive move. Need the 010 wiped?

 

[barney]

Lol ... By the time I answered the phone and posted the above, the 010 has already been wiped

In the words of Tome Gleeson ... "Go Hard"

 

[frugal.rock]

In the words of Tome Gleeson ... "Go Hard"

Yaarrrp.
A nice show of strength.
Supply dwindling.
Sitting firmly with spectator style interest, holding my cards....

Oh, you tarnish this place with a mention of "that place" !

 

[barney]

Oh, you tarnish this place with a mention of "that place" !

Lol.

Plenty of good lads right across the Trading internet of course but ASF has the most polite participants


One should never discount the "Sour Grape" Indicator in my experience however

And "that place" has a few of them.

I don't frequent it a lot, but when I need a shot of Vinegar, it is often helpful

(BSM is crap. BSM is useless. What a dog of a Stock ... wha wha wha) Time to BUY lol

ps What do you reckon the possibility of some big wig with deep pockets
Line wiping the 30 million Shares at the 011-012 near the Close this arv?

That would really throw a spanner in the works for tomorrow's Open

 

[barney]

Some nice trades coming in at intervals

The 010 got repopulated a few minutes back, then one Buyer took the Line with an $88,000 swipe. Nice?

Better than watching TV

 

[frugal.rock]

ps What do you reckon the possibility of some big wig with deep pockets
Line wiping the 30 million Shares at the 011-012 near the Close this arv?

That would really throw a spanner in the works for tomorrow's Open

What's this spanner you speak of?

Might be some oil on the squeaky wheel bearings....?

Will be an interesting final close today.
Closing on strength thus far.
Average buy in price has ended up being somewhere around 0.0103 today (guesstimate).

 

[frugal.rock]

I see Bass has made it to the top of the gainers list on
investing dot com today...

And 2nd place on Westpac list.

 

[barney]

ps What do you reckon the possibility of some big wig with deep pockets
Line wiping the 30 million Shares at the 011-012 near the Close this arv?

Mmmm Interesting

Gotta love Spec behavior?

Will it continue ... Who knows!!??