[BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins - page 12.

forensick

sr. member

Activity: 376

Merit: 250

Quote from: Ukyo on June 15, 2013, 12:54:07 AM

Hmm,

I think the difference is that they have already found traces of Gold on their land.

Generally most exploration companies are at stage 1, go out and find something.
I think here, they are at stage 2, they have found something, and need funds to further detail exactly how much has is actually there.

So regardless, as long as the traces are correct, the promise of Gold is 100%. It is more of a question of exactly "how much".

-Ukyo

really strange to have junior mining company trying to get funds from btc community. There is about 3000 companies like that with better drill results starving on toronto stock exchange... if the prices of gold and silver will be supressed by BIS, FED, ECB and other crony banksters, it is just waste of money. But maybe one day bitfunder will offer real producer of gold, oil or REE, that would be interesting, but not junior

tinus42

hero member

Activity: 784

Merit: 501

Quote from: MrMochi on June 16, 2013, 07:44:43 AM

Quote from: 101111 on June 16, 2013, 06:37:27 AM

Traces? Do you believe they've found, to quote Prendergast (sic) "Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill."

In gold mining standards that's almost pure gold!

(btw does anyone else find his kindy-level grammar, not just in the quote above but throughout all his writing, oddly incongruent with his wide range of academic qualifications?)

"According to the World Gold Council (WGC), larger and better quality underground mines contain around 8 to 10g/t, with marginal underground mines have averages of around 4 to 6g/t. Open pit mines usually have lower grades from 1g/t to 4g/t, but can be highly valuable despite the lower average grade."

source http://goldinvestingnews.com/world-class-gold-deposits

C'mon guys do some basic research! At least google g/t gold. Or maybe what comes first, drilling or survey?

You bring up valid points.
I had not actually noticed the 107 g/t.
But this could just be a mistake
Maybe it should read 1.07 g/t.

To further staff this idea I checked the other documents for spelling mistakes.
You'll find both Prendergast and Prendegast used for the same person.
We'll also find the 107 g/t mention there.
Which really stands out as the odd number.
Because the other findings seem more realistic.
So should 107 g/t be a mistake and really be 1.07 g/t.
It seems strange that they wouldn't mention the 2.2 g/t they've found.

A company can't afford to make mistakes (or mislead) like this.
107 g/t has been mentioned by Prendergast several times now.
Enough chances to correct this mistake.
So I would assume he knows little of gold extraction.

We could also still be talking to someone posing as Prendergast.
Maybe Prendergast (Leo?) could make a video talking about Kenilworth AND Bitcoin.
Because I no longer have any inclination to purchase shares.

There is also an annoying error in the title of this thread: "Opertunity".

I wonder if on Bitcointalk you can change the title yourself or a mod has to do that.

MrMochi

newbie

Activity: 49

Merit: 0

Quote from: 101111 on June 16, 2013, 06:37:27 AM

Traces? Do you believe they've found, to quote Prendergast (sic) "Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill."

In gold mining standards that's almost pure gold!

(btw does anyone else find his kindy-level grammar, not just in the quote above but throughout all his writing, oddly incongruent with his wide range of academic qualifications?)

"According to the World Gold Council (WGC), larger and better quality underground mines contain around 8 to 10g/t, with marginal underground mines have averages of around 4 to 6g/t. Open pit mines usually have lower grades from 1g/t to 4g/t, but can be highly valuable despite the lower average grade."

source http://goldinvestingnews.com/world-class-gold-deposits

C'mon guys do some basic research! At least google g/t gold. Or maybe what comes first, drilling or survey?

You bring up valid points.
I had not actually noticed the 107 g/t.
But this could just be a mistake
Maybe it should read 1.07 g/t.

To further staff this idea I checked the other documents for spelling mistakes.
You'll find both Prendergast and Prendegast used for the same person.
We'll also find the 107 g/t mention there.
Which really stands out as the odd number.
Because the other findings seem more realistic.
So should 107 g/t be a mistake and really be 1.07 g/t.
It seems strange that they wouldn't mention the 2.2 g/t they've found.

A company can't afford to make mistakes (or mislead) like this.
107 g/t has been mentioned by Prendergast several times now.
Enough chances to correct this mistake.
So I would assume he knows little of gold extraction.

We could also still be talking to someone posing as Prendergast.
Maybe Prendergast (Leo?) could make a video talking about Kenilworth AND Bitcoin.
Because I no longer have any inclination to purchase shares.

101111

hero member

Activity: 525

Merit: 500

Quote from: Ukyo on June 15, 2013, 12:54:07 AM

Hmm,

I think the difference is that they have already found traces of Gold on their land.

-Ukyo

Traces? Do you believe they've found, to quote Prendergast (sic) "Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill."

In gold mining standards that's almost pure gold!

(btw does anyone else find his kindy-level grammar, not just in the quote above but throughout all his writing, oddly incongruent with his wide range of academic qualifications?)

"According to the World Gold Council (WGC), larger and better quality underground mines contain around 8 to 10g/t, with marginal underground mines have averages of around 4 to 6g/t. Open pit mines usually have lower grades from 1g/t to 4g/t, but can be highly valuable despite the lower average grade."

source http://goldinvestingnews.com/world-class-gold-deposits

C'mon guys do some basic research! At least google g/t gold. Or maybe what comes first, drilling or survey?

DobZombie

hero member

Activity: 896

Merit: 532

Former curator of The Bitcoin Museum

Quote from: Bonam on June 16, 2013, 12:05:33 AM

Quote from: DobZombie on June 15, 2013, 05:48:33 AM

So realistically when would we start to see dividends from this?

How long to go from preliminary exploration to profitable mining? We're talking a few years before you see any real returns...

I read that as...

Quote from: Bonam on June 16, 2013, 12:05:33 AM

How long is a piece of string?

Bonam

sr. member

Activity: 420

Merit: 250

Quote from: DobZombie on June 15, 2013, 05:48:33 AM

Just bought 2000-odd shares. My first bitcoin Investment (apart from my own mining equipment) Cool

So realistically when would we start to see dividends from this?

How long to go from preliminary exploration to profitable mining? We're talking a few years before you see any real returns...

tinus42

hero member

Activity: 784

Merit: 501

Quote from: Ukyo on June 15, 2013, 12:54:07 AM

Hmm,

I think the difference is that they have already found traces of Gold on their land.

Generally most exploration companies are at stage 1, go out and find something.
I think here, they are at stage 2, they have found something, and need funds to further detail exactly how much has is actually there.

So regardless, as long as the traces are correct, the promise of Gold is 100%. It is more of a question of exactly "how much".

-Ukyo

They are literally betting the farm on it so they must be very confident of a positive outcome.

Quote from: Prendergast123 on June 03, 2013, 07:22:34 PM

Patrick has a large 94,000 acre property "Kenilworth Station" that he will use as collateral.

https://bitcointalksearch.org/topic/m.2363431

^{I assume this is the same property and the 96,000-94,000 difference is due to either a typo/factual error or they sold 2,000 acres in the last decade.}

DobZombie

hero member

Activity: 896

Merit: 532

Former curator of The Bitcoin Museum

Just bought 2000-odd shares. My first bitcoin Investment (apart from my own mining equipment) Cool

So realistically when would we start to see dividends from this?

Ukyo

sr. member

Activity: 448

Merit: 250

Hmm,

I think the difference is that they have already found traces of Gold on their land.

Generally most exploration companies are at stage 1, go out and find something.
I think here, they are at stage 2, they have found something, and need funds to further detail exactly how much has is actually there.

So regardless, as long as the traces are correct, the promise of Gold is 100%. It is more of a question of exactly "how much".

-Ukyo

101111

hero member

Activity: 525

Merit: 500

I already posted this in reddit http://www.reddit.com/r/Bitcoin/comments/1gdbtp/kenilworth_explorations_your_thoughts/:

Just to help a bit with your research, Kenilworth say is they have 'an agreement' with an actual listed junior explorer, so not much to go on, but ...

"The obvious question for reasoned speculators now becomes, “How is it possible that 3,000 publicly listed companies are able to raise billions of dollars given that the odds of success are 1 in 1,000 for an OK deposit or 1 in 10,000 for the big deposit?” The simplistic answer is that Mother Nature has been very generous to exploration geologists and by association, the brokers that make their living selling the dreams of buried treasure to the public by playing to human nature: greed and the susceptibility to an easy getting rich quick story. "

You gotta wonder what are the odds for unlisted explorers, or rather the odds that the speculators will see any return at all?

https://www.explorationinsights.com/pebble.asp?relid=2408[1]

If you want to give money away give it charity.

101111

hero member

Activity: 525

Merit: 500

The problem is it's not a mining company, it's an exploration company. VERY VERY VERY BIG DIFFERENCE. Most explorers by far do not find an economical resource. However some of them do manage to find a steady stream of speculators willing to finance them while they 'explore'. Do your research, it actually costs very little to register a company, and even less to say your going to find millions of oz's of gold, but you just need a $million or two up front first.

Prendergast123

member

Activity: 70

Merit: 10

Kenilworth Exploration: Bitcoin Crowd Investing Meets Real-World mining
Vitalik Buterin | On 14, Jun 2013 - australia - gold - mining
Link: http://bitcoinmagazine.com/kenilworth-exploration-bitcoin-crowd-investing-meets-real-world-mining/

tinus42

hero member

Activity: 784

Merit: 501

I was doing a bit of research online and found this interesting page about evaluating gold mine investments, which may be of use to investors in this asset (especially people with no knowledge of the precious metals industry, which likely applies to bulk of the forum membership):

http://www.kengerbino.com/articles/12guidelines.html

Betatester

member

Activity: 118

Merit: 10

Quote from: statdude on June 12, 2013, 11:02:48 AM

Quote from: Betatester on June 11, 2013, 01:43:29 AM

Quote from: statdude on June 10, 2013, 03:47:17 PM

Is there a way to tell how many shares have sold?

4,869,105 shares issued
3,957,954 availlable at time of posting

911,151 still in the pot

This might include shares being sold off by original buyers, but should be close.
You can work yourself through https://bitfunder.com/assetlist for info on who holds shares.

Whats the difference vs available vs in the pot?

I made a mistake when posting this. 911153 sold, those 3957954 available were meant to be in the pot for investors. Fixed the post.

statdude

legendary

Activity: 1498

Merit: 1000

Quote from: Betatester on June 11, 2013, 01:43:29 AM

Quote from: statdude on June 10, 2013, 03:47:17 PM

Is there a way to tell how many shares have sold?

4,869,105 shares issued
3,957,954 availlable at time of posting

911,151 still in the pot

This might include shares being sold off by original buyers, but should be close.
You can work yourself through https://bitfunder.com/assetlist for info on who holds shares.

Whats the difference vs available vs in the pot?

Betatester

member

Activity: 118

Merit: 10

When are raised funds exchanged for FIAT-money? Given the recent depreciation of Bitcoin, shares should already have gained value.
Do you have any strategy on dealing with BTC volatility?

Prendergast123

member

Activity: 70

Merit: 10

Quote from: Betatester on June 11, 2013, 01:43:29 AM

Quote from: statdude on June 10, 2013, 03:47:17 PM

Is there a way to tell how many shares have sold?

4,869,105 shares issued
3,957,954 availlable at time of posting

911,151 still in the pot

This might include shares being sold off by original buyers, but should be close.
You can work yourself through https://bitfunder.com/assetlist for info on who holds shares.

I was literally typing, thank you Betatester. You beat me to it.
Just to add this round of the IPO is at a price per share of BTC 0.0018

In response to the above question "it's just been 11 days into the start of the IPO".

Betatester

member

Activity: 118

Merit: 10

Quote from: statdude on June 10, 2013, 03:47:17 PM

Is there a way to tell how many shares have sold?

4,869,105 shares issued
3,957,954 available at time of posting

911,151 sold

This might include shares being sold off by original buyers, but should be close.
You can work yourself through https://bitfunder.com/assetlist for info on who holds shares.

statdude

legendary

Activity: 1498

Merit: 1000

Is there a way to tell how many shares have sold?

MrMochi

newbie

Activity: 49

Merit: 0

Is there a time limit for the IPO by the way?
Or will you just sell as many as possible and start anyway?

Topic: [BitFunder] - KENILWORTH - Real World Mining Opportunity with Bitcoins - page 12. (Read 54772 times)