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18p would net me £511,000, id be happy with that lol
The deeps could make luansobe a 200mill plus adventure)))) 16p -20p baby I can wait for that, and it's a free ride
You are right Flipper!
But https://www.theguardian.com/business/2024/apr/25/bhp-moves-to-buy-anglo-american-mining-group
All copper copper, copper. Very good I deed for us 😁
Agreed. An important point. More ore discovered, ramp down to the deeper part, extend life of mine. That's without the deeps. But if the deeps drilling turns up trumps then a new mine for Mopani. Think of it as a potential bonus. Worth exploring for. That build plan, formal extraction rates, new ore size, and status on where we are will be sought by shareholders and potential new investors.
CB said there is a new report in the last few days on Luansobe as identified more ore by re-working all the logs and they will be diverting some cash flow from mining the pit to start drilling on the deeps (hence some but not all of it) and it is attracting lots of interest.
I think what I said on Sunday that GLR is described now by non Zambia assets and the Zambian assets is important with most of the former being sold off or JV'd in the near term.
CB said there is a new report in the last few days on Luansobe as identified more ore by re-working all the logs and diverting some cash flow to more drilling on the deeps (hence some but not all of it) and it is attracting lots of interest.
Shinganda still on for an IOCG
Interesting work on the NW licence but not allowed to say too much at this stage (RNS will be need to update this asset soon)
In Kalahari licence P39/40P very prosperous and 243 (253) in the middle of Cobra - talking with Sandfire but not others yet but likely JV's eventually with someone and 253 is OBVIOUS and they want to add value (more drilling) before talking to anybody else.
Kamativi, CB confirms continuous Lithium grades which delighted them but not the market - they took a Chinese group out there!
Bulawayo now drill ready with targets.
Yes, I would like to sell some assets to reward shareholders which is unlikely to happen in the near future but the assets we have are looking very good.
Ana - copper price is looking good. The pullback was quite weak so maybe it could go on a big step up.
Https://www.livecharts.co.uk/MarketCharts/copper.php
$10k per tonne.
Pay your money, take your choice 3CB. This is shaping up well - mining license approved - a big milestone. DYOR.
It's pure fantasy to be talking about short term dividends other than a special div on asset sale.
I've invested in numerous AIM shares over the years, some profitable, but never received any dividends. Still as long as it sucks in a few more punters eh?
Hopefully, they will soon have significant £cash and profit per annum - a % of profits as a dividend per annum for 15 year LOM would pique market interest.
Actually realise some cash and distribute to shareholders! Don’t be silly -not part of Colin’s Modus operandi -would be great though
CB said some of the funds would be diverted to exploration - as would be expected given it’s primarily an exploration company. There will be plenty of folk running the numbers and making their investment decision based on that. What you have described is a market cap based on a PE of 1 - which would also ignore the upside from the other assets. I think the market will take a view based on LOM, profit, macro outlook, value add potential into other assets etc and will react accordingly. Pay your money, take your choice.
Of course are much bigger, but profits are realised in the future. If they are just used to fund exploration there is significant risk attached, so let's see how the market responds. Had there been say a 20 million special dividend it's obvious we would see a factor 2-3 on the SP
BS I think CB said they had new data on the Luansobe model but I actually understand your point that the revenue being ploughed into the other areas of the mine might not help the SP.
Serious numbers from the open pit, the market will not be able to ignore those numbers. The numbers are much bigger than a sale which would have likely been about two years worth of profit - compared to the elongated 15 year life and profit potential given the mining strategy.
Personally I am a bit disappointed that the much vaunted JV/sale of the open pit on granting of nte mining license looks like more hubris. If we mine there will unlikely be a return to shareholders for some considerable time, particularly if the income is just used to fund exploration of other prospects. Whilst the prospects are indeed promising the timescale for realisation is years imo and all we will get at e nebulous, hubristic podcasts. Consequently I don't expect an immediate big uplift in the SP if we mine the open pit. I would love to be proven wrong and see Chr5p 2p projection.
I agree BS. A mining plan - simplified for shareholders to understand - with brief status on proceedings to get us to the point of mining would be good step post the RNS declaring the Open Pit approval.
At the AGM the strategy was potential sale Flipper. This is more likely the approach now.
Given we are supposed to be ,mining in 5 months we should be presented with the mining plan now. I hope the next RNS will have some solid time projections as well as cash flow forecasts.
Ana - that has been the strategy for a long time. If an offer came in for the whole lot then of course they would consider it but we wouldn't be partial to that information.
As others have said, a second listen is always worthwhile for the detail. Hopefully the BHP move will bring attention to the copper space.
It's definitely worth a re-listen - there is a heck of a lot of information in there. CB is very knowledgeable about his assets in particular and the industry. Keep in mind the comment 'something small that may lead to cash flow to fund the bigger work is the kind of situation we like to find ourselves in.' And Luansobe open pit is a 'starter for 10'. 'It's all fairly immediate and is attracting a lot of interest'.
It's now clear to me that this is the likely strategy for Luansobe. Get the open pit up and running, drill the bigger resource area using some cash diverted from the open pit operations in order to perform that work. They will run a decline to 500-600m depth (guess) and this gives access to the ore at that level and a longer life of mine - a simple strategy.
If the deeps are drilled and prove up 60-70mt as pointed out in archive documentation they have (good grades at the deeper levels), and also stated by the US GS asp potential, then they have a huge mine which will become Mopani's next mine in all likelihood.
What I would like to see is a few slides on the Mine Plan for Luansobe - even if for some reason they do not publish the full mine plan. That would help people understand the approach.
Copper price is the driver …
https://www.bbc.co.uk/news/articles/czrxm4pljlwo