Just a short note. I have been quite busy. I am researching the back story around Africa’s richest and longest producing goldmine. I first visited this gold mine in 1990.
I have ordered a book from Amazon on the life of Tiny Rowland. That should be a clue. The price was a penny. It will cost me to £5.71 after postage and packing. I first want to write a short piece on a small historic silver-rich lead mine. It is within Group Eleven’s new Castlemaine zinc-lead exploration ground in southwest Ireland. It is first mentioned in reports dating back to 1497.
I am getting excited about Group Eleven and now busy trying to raise some initial financing. Ignore the negativity in the markets and the fretting about instability. G11 is a private company and I have high hopes for it in these times of comic capitulation in the sector. The markets are too important to be taken seriously. Throw charts and myopic predictions right out the window. It is all about sentiment and emotion and fragile confidence.
Confidence like trust is not hard to break. It can be shaken but not stirred. Once stirred it creates its own momentum. The suction downward is quick as we saw in China. Glencore might submerge beneath £1 per share but the demand for metals will not. Without exploration what will remain are mines we already knew. We mine these tired deposits at anaemic grades. To mine we will need higher not lower than normal metal prices. At that stage the usual suspects will offer unusual prospects. It will then take ten years for the mining sector to get back on its feet and meet demand with supply.