Goldenboy

RECO announced a hug acquisition on April 17 adjacent to their current play, an extension of the Damara fold belt.

ReconAfrica has entered into a memorandum of understanding (MOU) with ANPG for a joint exploration project in the Etosha-Okavango basin, located onshore in southeastern Angola. ANPG is Angola’s national concessionaire and regulator.

The agreement is a strategic addition to the company’s asset portfolio, which creates an opportunity for early entry into onshore Angola at a low cost, with minimal work commitments. It complements ReconAfrica’s activities in Namibia and highlights the potential of the Damara fold belt and rift basin by adding 5.2 million acres in Angola to the existing 6.3 million acres in Namibia in the highly prospective Damara fold belt and rift basin exploration plays.

Brian Reinsborough, president and chief executive officer of ReconAfrica, stated: “The encouraging technical results from our recent Naingopo exploration well on PEL 73 [petroleum exploration licence], onshore Namibia, have strengthened our belief in the significant hydrocarbon potential of the Damara fold belt play. Our regional geological models indicate that the promising fold belt play, known for hosting some of the world’s largest fields and covering extensive areas, likely extends into Angola.

“As a result, we are excited to be entering into a strategic MOU with ANPG. Recent regulatory reforms make Angola an attractive jurisdiction for new oil and gas exploration, and we look forward to working with ANPG and Sonangol as we progress our exploration initiatives.

“This significant transaction underscores the company’s strategic focus and complements our activities in Namibia, highlighting the potential within both the Damara fold belt and rift basin plays. It also aligns with our focus on creating significant value for our shareholders as an early mover into prospective hydrocarbon basins with significant acreage positions. We look forward to implementing our ESG [environmental, social and governance] and community outreach programs and creating employment for the people of the Okavango region.”

Ownership interest in the MOU area will be ReconAfrica with an 80-per-cent working interest and Sonangol with a 20-per-cent working interest. ReconAfrica will have exclusive rights during the MOU term.

Some good Q1 results from B2Gold as well

2025 First Quarter Highlights

• Gold production of 192,752 ounces in Q1 2025: Consolidated gold production in the first quarter of 2025 was 192,752 ounces, higher than expected. All B2Gold operations exceeded production budgets in the first quarter, and the Company remains on track to meet its consolidated annual production guidance range. All three operations continue to meet or exceed gold production expectations to start the second quarter of 2025.
• Consolidated cash operating costs of $832 per gold ounce produced in Q1 2025: Consolidated cash operating costs (see “Non-IFRS Measures”) were $832 per gold ounce produced ($880 per gold ounce sold) during the first quarter of 2025. Cash operating costs per ounce produced for the first quarter of 2025 were lower than expected as a result of lower than expected fuel costs and higher than expected gold production.
• Consolidated all-in sustaining costs of $1,533 per gold ounce sold in Q1 2025: Consolidated all-in sustaining costs (see “Non-IFRS Measures”) were $1,533 per gold ounce sold during the first quarter of 2025. Consolidated all-in sustaining costs for the first quarter of 2025 were lower than expected due to lower than expected total consolidated cash operating costs per gold ounce sold and lower than expected sustaining capital expenditures.
• Attributable net income of $0.04 per share; adjusted attributable net income of $0.09 per share in Q1 2025: Net income attributable to the shareholders of the Company of $58 million, or $0.04 per share; adjusted net income (see “Non-IFRS Measures”) attributable to the shareholders of the Company of $122 million, or $0.09 per share.

Anyone buying any of the bargains yet?

This buying is cleaning up the market, there is some offers at 10 cents and then nothing

:ZON Depth by Price @10:19:50

Bid		Ask
Orders	Size	Price		Price	Size	Orders
1	4,000	0.08		0.09	25,000	1
1	24,000	0.075		0.10	113,000	4
1	15,000	0.07		0.12	38,000	1
2	20,000	0.065		0.245	10,000	1
3	32,450	0.06		0.51	20,000	1

Equinox should see a strong move soon. Here is an update from last week

Equinox Gold Corp. has provided an operations update on its new Greenstone gold mine in Ontario, Canada.

Greg Smith, president and chief executive officer of Equinox Gold, commented: “Since commencing operations, the Greenstone mine has demonstrated good progress with both mining and processing rates increasing substantially during Q3 and into October. The Greenstone team is focused on systematically ramping up both mining rates and plant throughput during the fourth quarter as the mine continues to progress toward design capacity. With approximately 42,500 ounces of gold produced in Q3 and 59,000 ounces produced since pouring first gold in May, we estimate 2024 production for Greenstone at 110,000 to 130,000 ounces.”

Greenstone ramp-up progress

Safety

Greenstone has achieved strong health and safety performance since the start of project construction in Q4 2021, with more than seven million hours worked with one lost-time injury.

Mining

The mine has made substantial progress in establishing the footprint of the first phase of the open pit. With continued expansion of the mining areas and the commissioning of additional haul trucks, mining rates increased substantially during the third quarter, from average daily tonnes mined of approximately 76,000 tonnes per day (tpd) in July to 87,000 tpd in August and 125,000 tpd in September, with peak movement exceeding 180,000 tpd during the month. This momentum has continued into October to date with the daily mining rate averaging 145,000 tpd, steadily approaching the Q4 target of 170,000 tpd.

The current operating mine fleet comprises 25 CAT 793 trucks haul trucks, two Epiroc D65 drills, six Epiroc Pit Viper 235 drills, four Komatsu PC5500 shovels, one Komatsu WE1850 loader and six Komatsu D375A-8 bulldozers, with an additional CAT 6030 excavator and four CAT 793 haul trucks expected to be commissioned in early 2025.

Here is the trade summary the day the stock sold down, lucky Friday the 13th. As you can see pretty much all anonymous selling, so for sure a fund Gambler and Pasta

 

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
19 Desjardins	273,000	18,495	0.068	0		273,000	-18,495
79 CIBC	200,000	13,500	0.068	0		200,000	-13,500
2 RBC	101,000	6,630	0.066	15,000	1,005	0.067	86,000	-5,625
85 Scotia	53,000	3,645	0.069	0		53,000	-3,645
80 National Bank	30,247	2,027	0.067	0		30,247	-2,027
7 TD Sec	46,000	3,095	0.067	19,000	1,270	0.067	27,000	-1,825
33 Canaccord	5,000	375	0.075	0		5,000	-375
1 Anonymous	189,000	12,845	0.068	863,247	58,337	0.068	-674,247	45,492

Hi Alex, saw you on the Bitcoin etf topic, so popped over here and just replying to you and see where the reply goes. Sounds like this works like the old Silicon Investor where there are threads in the topic

I did manage to buy some more on this dip. Things progressing nicely with the exploration well

 

RECONAFRICA ANNOUNCES AN OPERATIONS UPDATE

Reconnaissance Energy Africa Ltd. has provided an operations update with respect to activity relating to petroleum exploration licence 73, onshore northeastern Namibia.

Brian Reinsborough, president and chief executive officer, commented: “With the company funded for our multiwell exploration program and the joint venture agreement in place with BW Energy, focus returns to operations associated with the Naingopo exploration well and other activities on PEL 73. The Naingopo well is currently drilling on schedule and on budget to a depth of 1,450 metres, and we will soon be drilling into key targeted intervals. We will continue to drill through key intervals throughout the remainder of the well, which is targeted to complete drilling in early October with results thereafter. We are pleased with the performance of our drilling crew and all the people from our key third party contractors. Elsewhere on PEL 73, we have started construction on the access road leading to Prospect P, our second Damara fold belt exploration well, which is targeted to commence drilling in [fourth quarter] 2024. One year ago this month, I began my journey with the company, during which we have implemented widespread strategic and tactical changes and are currently executing multiple facets of our high-impact exploration program, which we expect to deliver significant value for shareholders.”

Exploration drilling

The Naingopo exploration well has been drilled to a depth of 1,450 metres, with surface casing set at 350 metres and a first casing string set at 1,200 metres. The well has been tracking to drilling depth and well cost estimates, with everything on schedule and plan.

As a reminder, the Naingopo well is targeting 181 million barrels of unrisked prospective light/medium oil resources or 937 billion cubic feet of prospective natural gas resources, on a 100-per-cent working interest basis, based on the most recent prospective resources report prepared by Netherland, Sewell & Associates Inc. The well is targeting to drill to a depth of approximately 3,800 metres or 12,500 feet, and is expected to encounter four primary reservoir intervals targeting both oil and natural gas. If successful, the well would be a major play-opening discovery, providing access to multiple drill-ready prospects.

Elsewhere on PEL 73, the company continues to make progress in the construction of the access road for the second Damara fold belt exploration well, Prospect P, which is expected to start drilling in the fourth quarter of 2024. Prospect P is targeting 309 million barrels of unrisked prospective light/medium oil resources or 1.6 trillion cubic feet of prospective natural gas resources, on a 100-per-cent working interest basis, based on the most recent prospective resource report prepared by NSAI.