Deep South Resources

Discussion in 'Penny Stocks' started by rickydi, Mar 14, 2021.

  1. rickydi

    rickydi Senior Investor

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    From Nov. 12 PR

    HIGH COURT OF NAMIBIA ORDERS THE MINISTRY OF MINES TO FILE FURTHER DOCUMENTS WITH THE COURT NO LATER THAN NOVEMBER 18, 2021

    Deep-South's legal counsel will have 10 court days to review the documents Nov 28 ???

    The court will hold another hearing on Nov. 25, 2021, to define the further procedures with regards to the review of the decision of the Minister
     
  2. rickydi

    rickydi Senior Investor

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    While recuperating Haib copper mineral rights remains a top priority, management continues to seek another copper project. Some projects have been identified and discussions with their owners are taking place. The company will provide an update on the matter in due course. The management is determined to develop Deep-South as a developer of important copper projects.

    In fact several projects are currently under DD analysis.

    Some investors are accumulating the stock knowing the price will bounce back to 0.25-0.30¢ when a new deal is done
     
  3. rickydi

    rickydi Senior Investor

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    Join with us on the bid
    V:DSM - DEEP SOUTH RESOURCES INC - http://www.deepsouthresources.com
    13:56:14 EST
    Bid size.....bid......- Ask .......ask size...Last.......Vol
    291.0.......0.05......0.055.....91.0.........0.055.....11.0
     
  4. rickydi

    rickydi Senior Investor

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    OPPORTUNITY FOR SAVVY INVESTORS

    DSM.V - DEEP SOUTH RESOURCES INC - http://www.deepsouthresources.com
    Sym..................Bid........Ask.....Last......Vol

    DSM .V...........0.055......0.06.....0.06.......7,500
     
  5. rickydi

    rickydi Senior Investor

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    https://www.stockwatch.com/News/Item/Z-C!DSM-3187300/C/DSM

    ORIGINAL: Deep-South Requests the Judge to Render a Decision in the Review Case with the High Court of Namibia Concerning Haib Copper Licence Refusal

    2021-12-21 08:42 ET - News Release

    VANCOUVER, BC, Dec. 21, 2021 /PRNewswire/ - Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM) announces that the Namibian legal counsel of the Company and its subsidiary, Haib Minerals (Pty) Ltd ("Haib"), have amended and supplemented the original application on behalf of Haib with the High Court of Namibia for an order that the Minister of Mines and Energy should grant the renewal of the Haib Copper EPL 3140 licence within 30 days of the issuing of the order.

    The Ministry has not filed any documents supporting the process followed by the Minister, the Mining Commissioner and the Ministry's relevant officials assessing and deliberating on the Haib renewal application for the Haib Copper EPL 3140 licence. This lack of internal process documentation regarding the Minister's decision to refuse the renewal of the licence was made evident in the court proceedings, thereby providing no written evidence of a meaningful evaluation of the merits of Haib's licence renewal application.

    It is to be assumed that the Minister did not receive any documentation or evaluation by the Mining Commissioner or any of his staff relating to the exploration activities carried out on the Haib Copper licence. Therefore, the decision seemed to have been taken without any paper trail showing a reasonable and fair administrative process thus violating Haib's rights in terms of Article 18 of the Namibian constitution.

    The Company will provide regular updates in this regard and any other matter concerning this situation.

    Corporate update

    While recovering Haib Copper mineral rights remains a top priority for the Company, Management continues to seek another copper project. Some projects have been identified and discussions with their owners are taking place. The Company will provide an update on the matter in due course.
     
  6. rickydi

    rickydi Senior Investor

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    2 days left for year end special

    DEEP SOUTH RESOURCES INC - http://www.deepsouthresources.com

    Sym-X............Bid -.......Ask.....Last..........Vol

    DSM ............0.065......0.07....0.065.......736,900

    DSMTF.................................0.0548.......445,000
     
  7. rickydi

    rickydi Senior Investor

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  8. rickydi

    rickydi Senior Investor

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    https://www.kitco.com/news/2022-01-...vehicles-will-keep-copper-afloat-in-2022.html

    Demand for electric vehicles will keep copper afloat in 2022

    Rajan Dhall Monday January 03, 2022 09:11



    (Kitco News) - It is safe to say that 2021 was a very strong year for base metals. As inflation kicked in the price of raw materials rose. One major factor was the lack of workers in the mines due to the COVID-19 pandemic. Many developing nations had to close mines and refineries with big infection rates and dampened production levels. Companies like Southern Copper, BHP, and Glencore all reported a reduction in production levels due to the pandemic. Since then things have got better but it is important to watch their production numbers closely for any changes.

    In addition to the lack of supply, the electric vehicle boom added to demand. A recent Europen statistic showed that the percentage of new vehicles being purchased fell but the growth in sales of electric vehicles is still managing to grow month on month. In the U.K. alone sales of plug-in hybrid electric vehicles also rose 40% year on year.

    Back to the price action, the weekly chart below shows a 20.25% increase in the price of copper over 2021. This is not as big as the 80% rise from the low of 2020 to the end of the year but copper producers will still be happy with the trend. Speaking of the trend, the price has now found itself in a strong consolidation zone between $4.02/lb and $4.88/oz. On the chart, one of the main features is a wedge type formation and any break of this could up us a big clue to the future trajectory of the price.
    upload_2022-1-3_14-25-54.png

    The shorter-term daily chart shows the extent of the consolidation zone the price is currently in. The price is currently testing the point in which most contacts have been made this year. This area at $4.40/lb has been like a magnet for the price this year with around 16 touches of the area being observed. The good news for copper bulls is that there has been a mini-rally of late and the price has moved around 7% higher since the recent low of $4.11/lb was printed. Having said that $4.50/lb was used as a resistance zone again but this could be a new higher low higher high pattern. The demand for electric vehicles will keep copper afloat over the next year the one issue that copper bulls may face is the growing production numbers as nations deal with the pandemic with more efficiency. If the consolidation low or chart pattern holds there is every chance the price could move higher as demand increases.
    upload_2022-1-3_14-26-49.png

    By Rajan Dhall

    For Kitco News

    [​IMG] [email protected]

    www.kitco.com
     
  9. rickydi

    rickydi Senior Investor

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    MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED AUGUST 31, 2021

    Report Date: December 29, 2021


    Key facts summary

    Teck shall hold a pre-emptive right to participate in any financing of Deep-South as long as Teck holds over 5% of Deep-South’s outstanding common shares;

    Prospecting License Renewal Declined On June 16, 2021, the Company has received notice from the Ministry informing the Company that its application for the renewal of its License had been denied citing the Company’s inability to advance the License to Pre-Feasibility and complete the proposed drilling program as planned.

    The Company maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility (PFS) study to an upgraded Preliminary Economic Assessment (PEA) and the commencement of a full Feasibility Study (FS). The FS was already commenced with at the time of the refusal. The License conditions state clearly that the Company shall request the approval of the Minister for any material program or budget changes. The change from a PFS to a FS implies a larger budget and a more advanced development program. Therefore, the change was not requiring the approval of the Minister. Moreover, the Ministry issued all permits required for the drilling program and officials were well aware that Haib had completed the drilling program at the time of the refusal to renew.


    The Ministry proceeded with their last filing on November 17, 2021. The filing did not include any documents supporting the decision of the Minister to deny the renewal of the Haib Copper license. Therefore, the Ministry has not provided any evidence supporting the decision of the Minister.


    Drilling results: On May 10, 2021, Deep-South reported significant drilling results:

    • HM06 : 0.47% CuEq over 152 metres, including 30 metres at 0.81% CuEq

    • HM07 : 0.42% CuEq over 128 metres, including 14 metres at 0.57% CuEq

    • HM10 : 0.65% CuEq over 36 metres, including 12 metres at 1.04% CuEq


    We were extremely enthusiastic by the first results from our active drill program. Previous drilling programs point to the presence of higher grade zones of Cu, probably associated with near vertical structures within the broader mineralized areas of the project. The use of vertical drilling in the past potentially missed those structures during those programs resulting in an underestimation of overall grade.

    This current drilling program is looking to redress this through the use of inclined holes to identify and delineate these structures and test the association with higher Cu grade zones. These first results seem to support this updated interpretation, showing substantial intersections at Cu grades considered high for Haib. Additionally, the presence of molybdenum has been confirmed with high Mo grades obtained in association with structures and alterations. Furthermore, three holes have expanded the size of Pit 2 in the higher-grade area.

    On June 10, 2021, Deep-South reported a second set of significant drilling results:

    • HM03 : 0.46% CuEq over 156 metres, including 24 metres at 0.65% CuEq

    • HM02 : 0.39% CuEq over 74 metres, including 6 metres at 0.73% CuEq

    • HM04 : 0.43% CuEq over 26 metres, including 4 metres at 0.87% CuEq


    We were continuing to have success with our active drill program identifying thick, higher-grade zones. We are consistently intercepting significantly higher grades than the average grade of our NI 43-101 indicated resource that stands at 0.31%Cu. The higher-grade zone in Pit 2 extends significantly further west and at depth than previously demonstrated. It’s increasingly apparent that the use of vertical drilling in the past missed many of the near vertical structures contained within the broader mineralization of the project. Those near vertical structures so far are proving to be associated with a higher grade of copper than contained within the current resource. Additionally, the presence of molybdenum has been confirmed with high Mo grades obtained in association with structures and alterations.


    This Haib Copper Mineral Resource has been defined by diamond core drilling covering a total surface area of some 2.6 square kilometres. The mineral resource classification is closely related to data proximity.

    Topographic elevations within the mineral resource area vary from 320m to 640m above mean sea level and average 480m above mean sea level. Indicated resources are constrained between the variable topographic surface and a horizontal level which is 75m above mean sea level and within which the majority of the drill and assay data are constrained. Inferred resources are laterally constrained by the last line of drill holes and extend 12 vertically from the horizontal surfaces defined by the +75m and -350m above mean sea level (a block of 425m thickness) within which there is a lesser data set derived from drilling.

    Mineralization is open near surface and at depth to at least 800 metres deep.

    The Mineral Resource estimate is based on the results from approximately 66,500 metres of drilling in 196 holes. The most recent drilling data comes from Teck Resources drilling programs totalling 14,500 metres (2010 & 2014) and from re-assaying a part of the 164 historical drill cores which are well preserved on site. Indicated Resources are defined by a drill grid of 150 metres by 150 metres, while Inferred Resources are defined by a drill grid of 300 metres by 150 metres.

    The Haib Copper exploration licence provides significant potential for resource expansion, since there is known, but poorly drilled and assayed, mineralisation beyond the drill grid boundaries and below the main mineralized body (which covers some 2 square kilometres of surface area), where a few drillholes from 75m above mean sea level to -350m above mean sea level (i.e. a thickness of 425m) have shown that mineralisation is present. The deepest drillhole did not pass out of mineralized material. In addition, there are 5 satellite mineralized target areas surrounding the main Haib porphyry body which still require further evaluation.

    The PEA technical report will be filed on SEDAR at www.sedar.com and on the Deep-South website at www.deepsouthresources.com


    Financial risk factors Level Ref. August 31, 2021

    Other financial assets (cash) $2,307,138

    Accounts payable and accrued liabilities $194,306

    Other financial liabilities $0


    FORWARD LOOKING STATEMENTS

    All statements in this report that do not directly and exclusively relate to historical facts constitute forward looking statements. These statements represent the Company’s intentions, plans, expectations and belief, and are subject to risk, uncertainties, and other factors of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, as a result of new information, future events or otherwise.
     
  10. rickydi

    rickydi Senior Investor

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    #OTCQB: #DSMTF #TSXV: #DSM
    DEEP SOUTH RESOURCES INC –

    http://www.deepsouthresources.com
    Bid size......Bid...........Ask.......Ask Size
    226,000.....0.055·......0.065....10,000

    Join with us on the bid
     

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