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It's in the RNS Lucky, but it's long winded I'm afraid, lots of "Ifs and Buts" but some good bits too.
CB explains it on the roasties podcast last week.
Can anyone clarify what the 'up to 15 million' means? Its a bit wishy washy.
A plonker ... That is the question...
Mr Bird today wholeheartedly asks his shareholders to back his cushty new plans...
It's Kosher ....and you know it makes sense.. because this time next year.....
So I'm in.
Lovely jubbly !
Those smaller open pittable operations being targeted will potentially be the bread and butter that will cover ongoing operating costs and fund those larger exploration projects. Those smaller projects will not require large expenditure to get them into production which will be assigned a project manager to run so the take up is not too limited.
So the vibes I'm getting is that most feel approaching this move with a glass half and half empty positon (50/50).
Now is this a goal to far "prove the continuity of mineralisation at grades suggesting the potential for the future development of a Mineral Resource of not less than 500,000t of contained copper"
Is CB suggesting other assets are small fry.
He is betting big where he has previously won big. Zambia is that place which in some ways reduces risk from his perspective as he knows what he is dealing with having been involved in that country for30 years. From the machinations of countries and majors moving in for copper he appears to be in good company.
"WHY sell the house silver to only go back to square one with the end game of producing"
Because manica was not a big enough discovery for CB's ego or kudos. He wants to go out with another Kiwara - even if it means taking more risk with shareholders money
This could be one of the best things CB has ever done, or another failed Copper exploration play like the previous 4 bets
CB is a gambler - but happy to use other peoples money to gamble !
The company has a clear strategy for growth to bring online small to medium open pittable operations to bring in revenues under equally joint ventured deals giving far better operational control and risk mitigation and that target copper projects that are central to that strategy. Taking a step back now in principle, paves the way with financially security to fully commit the treasury to progress better options for medium to the longer term.
There are no guarantees that a second phase will actually happen. Full economic feasibility will be required to warrant underground mining, it really isn’t as straightforward as open pit. A lot of the deposit becomes sterile and unmineable due to the need for large supporting pillars to be created. The economic risks are far too much to commit to buy into.
Howezap ...........................we only need funds for phase 2. Which I sure we could raise by the end of Phase 1 etc and still have the asset. There will be no need to tap shareholders. We have been given the figures needed. 3/6/12 months of Manica can pay for Phase 2.
The tell is revenues from September 2023 covers Phase 1.
WHY sell the house silver to only go back to square one with the end game of producing. Which we are doing now.
Billy, if we keep Manica, it is a high probability that a fund raise will be needed to just progress to the next feasibility study toward a plant extension or new plant. It has been made fairly clear that it is not an option to just carry on receiving 23% profit share as a minority partner.
Beautifully summarised. I think we have to give CB a lot of credit for securing a a position here and, with a +ve vote at the EGM, Xtract will be the only junior that is self-supporting financially and not beholding to the controlling attitudes that all the majors have in return for their funding. This could be very exciting if the geos get it right in selecting the drill targets
If we get this right, someone witll notice and BR will become history - well sort of !!
Or its acknowledgement that with the EU, UK, Japan, Saudi, China, India, UAE taking interest in Zambia as well as the recent discovery - likely the largest in Southern Africa - by Kobold (Gates and Bezos), the additional monies going into Mopani, Vedanta's mine etc., the $15bn smelter, Lobito corridor investment, and targets set by the government for copper production that Zambia is fast becoming a very strong contender for global investment into its mining industry.
Has CB been moving his lips again?
Looks like CB needs a YES from me and others to sell Manica!
We have the cash for phase 1. Can’t see why CB can’t wait another 3 months and have the money for Phase 2 and we still keep Monica.
Well if CB can get the SP 500% in the next few days he can do what he wants.
Or it's a tried and tested means of diverting attention from failures (BR).
Zambia is getting a huge amount of attention for very good reasons. Shrewd move in known territory for CB.
Zambia it is then.........!!!
Following the Kobld hype
https://beststocks.com/kobold-metals-remarkable-copper-discovery-in/
Not a bad thing I suppose... nothing else happening to trott the SP on
cruella, galileo has a shared license interest in nw zambia with cooper lemon, a luansobe exploration license interest with statunga investments(75% glr),l - currently split into two small scale mining license applications - not sure how that affects things, a license interest with garbo resources for shinganda, and a license interest at ka****u under galileo.
Vulcanbob - you are conflating the license with a different seemingly anti Colin bird agenda that you seem to have held for many years. If folk stick to answering the question on licenses then the bulletin board might make progress on understanding whether company mergers are an option.
Question for you ANALytics
Is the maximum number of 5 licences relates to dormant licences not being drilled ?
Looking at the map you posted XTR has 2, GLR HAS 1 and AFR HAS 7
Surely CB can do a deal whereby XTR and GLR take surplus from AFR for a 50/50 deal on future sale in exchange for drilling costs❓
I am not referring to your recent article Analytical but one from the Lusaka Times a year or 2 ago (as I very briefly described in my message of 21:45 today}. Following the article which I had previously highlighted regarding from the Lusaka Times, you derided the article purely as `it had come from the Lusaka Times`. As I said, I will recover said article on my return to the UK.
The key question here’ relates to the number of licenses maximum that can be beneficially owned by a company in the Zambian mining cadastre as relates to the potential for a merger of companies in the CB stable. In this regard the Lusaka Times article looks credible. If you think the article is not credible then give a source to disprove it so we can assess.
I’m don’t recall that Vulcanbob.
Which part of the specific article quoted is incorrect t??
I seem to recall that you seriouslyderided the Lusaka Times a couple of years ago Analytical.