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Colin did mention 10p but I can't remember if that was share price or valuation
I want
Depends on what you regard as a reasonable offer bearing in mind the millions spent on it including drilling, and all paid for at our expense in share issues
I’ve been out of XTR for a while now so out of touch. What’s the thinking on BR? A sale for even a fairly nominal amount could represent a decent return here. (As opposed to yet more copper exploration, aka “Colin’s viagra”).
Moving in right direction Manica bought on credit had a few years ernings out of it
Sold for millions
And a lot of copper ready to get the investors income rising.
Or rather GM
Thanks for the AGM feedback to those that went to the trouble and kindly shared their thoughts
You now have £ coming in, and licenses in what is fast becoming the highest in-demand region for copper exploration and discovery on the planet. Zambia.
Prickly & CapB thanks
Don't worry, the drill will be turning in the best patch possible, we'll have a mega 'ole or two that will spike the SP and it'll be BR hysteria all over again.
Thanks for the write up. Much appreciated.
Wasn't one of the usuall suspects saying a few weeks back that the sp would shoot up once the sale was ratified at GM?
Wow that worked. Not
I also attended and sat next to Capn Bob. CB explained the sale was the best way we could obtain the cash necessary to explore the Zambian licences. He hinted it had not been easy extracting cash from our Majority partner despite our holding the licence. This sale would also remove any liability for future safety/compliance issues as the mine expands and provide a more secure source of cash than the current arrangement.
The funds should provide enough for a driliing operation to prove up the Zambian copper gold resources. There is chance of a Kiwara type hit. Manica could never be such a prospect. we have a top team of geologists and engineers on site to plan the drilling and this should be ready by April. It has been said here before but CB is hoping to go out with a bang and deliver up a great resource. There are plenty of eager players who are very keen to get a piece of Zambian copper action and with our licences sewn up for Xtr GLR and AFP CB thinks he has a very good hand to play
Yes thanks for the update.
Thanks for the update Bob.
Few attendees, 4 or 5 reassuring, hearing from Colin directly, added some context to the reasoning behind the 'sale' and what we have in Zambia.
Expecting a limited drilling campaign based on historical records, (target info mid April, ?) artisinal pits, once rainy season is done.
Plan will be to evidence resourse and sell on.
There seem 3 small mines that will come on line fairly quickly, not costly to set up.
I guess we will have RNS later to tell us the motion was carried.
Bush Ranger still very important asset, that it not forgotten, sort of thing majors want for inventory, regardless of wheter it will be developed or sit idle, seems there is an exit strategy from AA, that is not too expensive.
Surrounded by big players, but others not already with assets want in on the action.
Colin has ears of many, and team in place very competent.
Any news on the meeting ?
Nope
Anyone else takeing the time to attend GM this morning?
The only thing to watch for is that the CB affiliate company licenses are often held by the JV partners e.g cooper lemon, statunga, Garbo etc. therefore not always easy to spot
Https://portals.landfolio.com/zambia/
For all licences the Zambian cadastre is useful. Zoom in for more details.
Big day tomorrow. The start of a new beginning if shareholders vote with their head and not their heart ( or ars*). CB has made serious mistakes with BR, Manica I am not sure but back in his ( almost) native Zambia there is real hope for a recovery and shareholder value. Just hope we get regular newsflow and better PR than has been the case in recent times.
Thanks Andy,
Great Stuff.
Cygnus
My understanding is that ARCM licence is the AA one (on the map) to the right of AFP licence as you look at map. Its the left one of the three bottom centre licences
That's my understanding from listening to ARCM info but happy to be corrected.
http://www.rns-pdf.londonstockexchange.com/rns/3942C_1-2024-2-7.pdf
UAE !
This strikes me as an interesting quote:
"I'd be a bum on the street with a tin cup if the markets were always efficient."
- Warren Buffett
When it comes to Copper price, if you are a producer or have a production ready asset the current price is more relevant. However for juniors whose model is to make a discovery and and sell on, the negotiations always look at forecasted copper prices as well as recent prices - and where they are in the cycle. The big boys with the big wallets are not interested in day to day fluctuations for obvious reasons. Khomeacau was taken out by the Chinese for $1.8bn for a reason, same with the USA $1.1bn investment into Mopani's Mufulira mine, the ARCM deal with Anglo, and BHP sniffing around in the Kalahari for the last 12 months. And that is good news for all Juniors with copper assets.