mascale
12時間前
New Hiru management, (August), replaced others: And with lots of transparency--apparently lacking in others(?). Now there is data-assimilation underway--including likely changes. There is also a new two moinths upcoming for those reports and others. The data caliber improved astronomically, notice: ERM, e.g.! New valuations most likely wil include introduction of new technologies--in a relatively uncluttered area(?). My international focus is a pariah--fixed percentage money income raises against areas worldwide with none or near-none. It is best regarded a 5,000 year-level mistake, (versus deity beliefs).
Jack_Herer
19時間前
Copper in Chile. Sound's interesting! Freeport's El Abra mine is huge. My focus is mostly gold, mostly Africa...
One reason why I'm skeptical here, why would a wealthy Qatari, presumably with smart advisors, be looking for copper in northwest Tasmania (not a highly geologically prospective area for large copper deposits) when he could be looking for acquisitions or investments in Chile, Peru, the African copper belt, even elsewhere in Australia nearer to the large copper projects (Cadia, Mt Isa etc). It doesn't make sense.
As for "...with further details available in the company's published NI43-101, ITAR, and VALMIN reports.", I've not found any such public reports from Hiru, D&B, Zebs or on any of the historical drilling at Balfour, I'm happy to change my opinion should such a report emerge, but until then, there's no confirmed resource (and thus no project)...
mascale
19時間前
IHUB appears to be taking note of Qatar international capabilities in outsourcing. ERM is a valued consultant, worldwide capable. Qatar represents international stature: A "Rising Star" basis with its worldwide reputation getting enhanced. The staffing capabilities can become direct relatively immediately. IHUB posters have noted even usual start-up capability worldwide to be a rapid process, So HIRU filings include:
"Hiru Corporation (OTC: HIRU) is a Georgia corporation focused on copper mining and resource development, primarily through its flagship Balfour Copper Project in northwestern Tasmania, Australia. The project spans 70 kilometers and includes over 110 identified copper-gold occurrences, with a JORC-compliant resource at Murry's Reward. While incorporated in Georgia, USA, the company maintains a global presence with its Board of Directors headquartered in Doha, Qatar, and a remote workforce structure. The company holds exclusive 50-year mining rights and projects annual production of 50,000 tonnes of copper concentrate, with an initial 10-year mine life processing 500,000 tonnes annually. With a technical value estimated at A$123.5-200 million, Hiru Corporation is strategically positioned to become a significant player in the global copper market, particularly supporting the worldwide transition to renewable energy and electric vehicles."
rheddle
1日前
Thanks for your thoughts. I enjoy reading your commentary as you sound knowledgeable.
The OTC filing (not SEC) below offers the details on the NI 43101.
https://www.otcmarkets.com/otcapi/company/financial-report/415890/content
From the filing:
'...with further details available in the company's published NI43-101, ITAR, and VALMIN reports.' So they claim to have a NI 43101. This wouldn't have been done in 1974 with the 0.8% copper you described earlier, as it is described as being 'recent expenses' in the above OTC filing and shows 1.5-3% copper, which is very respectable. In 1974 they might have only done 2000 metres of drilling for all we know, but they would have done thousands more than that for the NI 43101 on a project this size:
'The project area encompasses approximately 960 square kilometers and a 70 km strike length, with over 110 identified deposits'
Reading this literally, this means it is the 'company's', not HIRU's until the transaction closes, which I suspect it hasn't yet. I could be wrong on this if I misunderstood Hiru IR's comment on X.com regarding the Balfour deal being 'on hold' unless they just meant they won't release more information until the 'corporate governance' issues are worked out and the TA change executed, again as stated by IR on x.com. I don't know the exact reason as it isn't detailed anywhere, but it is likely because Geoffrey Summers hasn't got his dosh / shares yet. Could Geoffrey Summer's be the Truist client that increased shareholding to 10% of OS between Oct 24 and Jan 2025? I don't know.
Again, I don't know if you are right nor not about this being a scam. All I know is Miro is out and he seemed to be what people saw as 'the problem'. My decision to remain and add to my position yesterday and today were based on the 1.24.2025 filing showing Truist having increased it's holding (proxy for a client of theirs or direct Truist investment? Who knows?) from 120 million shares to 150 million shares between October last year and January this year.
My view was that Truist, or somebody with Truist acting as proxy for them wouldn't be the dumb money while everybody else was selling.
I also have an Australian contact who I asked about Balfour and this is what he wrote to me a couple of months ago:
'I heard about the Balfour project. It seems a small operation with good potential profitability and the ability to scale up economically over time. Looks like it is a fairly low cost operation to get to start up so should be a good investment'
I think the Sheik is real (based on pictures I have seen with him, Summers and Thorp and other pictures I have seen of the Sheikh with other business people at Samsung, which are easy for people to find online). James Thorp still shows HIRU CFO on his linkedin page.
P.S. if you have any interest or any contacts that would be interested in a Chilean copper project, there is one site left of the first three to be developed on the project in which I know the site owner. He's 15 km from Freeport McMoran's site where they produce about 40,000 tonnes of cathode a year. They have tried to buy him out, but he turned them down, because he's developing it himself. If you want to talk, let me know. Cheers.
Jack_Herer
1日前
No 43-101 report is public, just their "extract" from some document claimed to be 43-101 compliant, which is worth little.
Correct, this doesn't match what's in the public literature on Balfour. I think they (Hiru) claimed twice the grade (1.5%) and 10 times the tonnes (5,000,000t). No evidence of any drilling to come up with this new figure, so I'm skeptical.
The economics are all academic until a properly quantified mineral resource is documented, 43-101 or Jorc. This is a public document for 100% of publicly listed issuers. Not seen this yet from Hiru or their local partners D&B and Zebs, or any of the historical explorers at Balfour. All reports are online and searchable at MRT, that's the whole point of ni43-101 and jorc codes. Public transparency in the mineral industry...
rheddle
1日前
No documentation that has been seen, only descriptions of what's in it. What you note there is not what was summarized from the NI 43101 which, for other readers here, is a document detailing proven reserves. I haven't re-read it, but I don't remember the summary saying only 0.8% copper. It would be on the lower end of the rich scale at that level, but not a bust.
Trucking costs are a consideration. Ore pricing would be either FOB local port or CIF destination port. Nobody's coming to pick it up. Don't know where the nearest concentrator is. They cost $6m for a used one if there is one in the area that could be moved, but maybe not necessary anyway.
waterchaser
1日前
Your personal attacks are misguided.
I graduated in 1979 with a degree in Finance and Real Estate....
where my college professors hammered into our brains that the penny stock market is/was a scam.
"Stay away" they taught. "The Penney Stock market is rife with scams and scammers".
(who wudda thunk it rundmc?)
I've been retired for many years, comfortably, from a long career in the resort hotel business.
You, on the other hand, hope to supplement your current unemployment with ill-gotten gains from scam pump and dumps on the scam OTC. And anyone that doubts that your current pump is worthless is "stupid".
Put that in your pipe and smoke it Mr. "I'm a Hiru basher when it suits my motives" and...
"I'm a HIRU pumper when it suits my motives".
Good luck with your endeavors Mr. "what am I, a HIRU basher or a HIRU pumper"?
Clearly, your current "play" on the OTC (HIRU) is a disaster and your unemployment has definately not been subsidized by your efforts here. You are losing.
mascale
1日前
So at Hiru, money is not an issue! The corporate governance has therefore now become an issue! Internet noted--The main purpose of a shareholder agreement is to air, discuss and agree key management and ownership issues so that the agreement can then hopefully be placed in a drawer and not see the light of day again! Without a shareholder agreement in place, the most common issue we see is an exiting founder who is leaving the business with all their shares, and the other management team members are aggrieved when they suddenly realize that they have no way of getting the shares back. However, the shareholder agreement and articles will also set out a myriad of other agreed provisions, meaning that the founders are then able to concentrate on the important task of growing the new business."
Jack_Herer
1日前
What "ore"?? There's been no real documentation of the mineralization at Balfour (Murrays Reward Mine, specifically) since Australian Consolidated Industry's drilling in the early 1970's. ACI drilled 37 holes at Balfour, 16 of them at Murray's Reward mine and came up with a loosey goosey (non-JORC compliant) resource at Murrays Reward of 500,000 tonnes of mineralization averaging 0.8% copper. That's not a lot, it's not a compliant resource, and it's not very good grade.
No concentrator?? How far do you think you can economically transport (truck +/- ship) 0.8% Cu 'ore'? At today's Cu price ($9.30/kg) that's a gross 'ore' value of around $74/tonne of rock. Nobody's going to buy this in-situ, too low grade. Even the Hiru wannabe miners know this has to be concentrated before transport. Where's the nearest processing plant? Is there one in Tas? Will they toll-treat low-grade ore (and displace their own higher-grade ore?). What's the cost per km of trucking 1 tonne of rock in Tasmania?
There is no (significant sized, potentially economically exploitable) documented copper resource at Balfour, period. This is all smoke 'n' mirrors. A story. A con, a grift, a flim-flam, man. Why do you think this is a ~$0.0008/sh stock?