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I do think we could have got more money for it personally seeing as it was going to bring in 12million per annum. 3% royalty is £360,000 per annum £30,000 per month, and ok we arent doing anything for this, but I do think the one off payment could at least have been 5 million.
Wow! I did wonder if all this was maybe down to a sale of SZ? They are focussing on KCB though by the sound of it, so I believe there is good reason for this!
Thanks DC. Sounds awesome, love the comment about highest grades ever seen in Kalahari - goes back to my notes a bit earlier about think what we could possibly be sitting on with the licences we chose to keep! I think Colin has a pretty fair idea already. Look at what he has pulled off over at XTR. The guy knows his stuff. Sandfire will be throwing cash at us with good drill results, they want to dominate the KCB area.
Thanks DC,
16% copper doesn't sound too shabby.
Thanks Datacheck. Brilliant research as usual.
Sandfire seems to be well run company with huge copper potential. Massive pile of cash ready to be disposed for more business. I think I will stick in 10K in it as soon as I have some cash. Gla
Dt :)
Possible reference to our KCB sale in Sandfires earnings conference call transcript
https://finance-yahoo-com.cdn.ampproject.org/v/s/finance.yahoo.com/amphtml/news/edited-transcript-sfr-ax-earnings-020000185.html?amp_js_v=a6&_gsa=1&usqp=mq331AQHKAFQArABIA%3D%3D#aoh=16148131697550&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fedited-transcript-sfr-ax-earnings-020000185.html
"Also, we established late last year the first inferred resource and it's still to be updated but for A4 deposit. And post the completion of that resource statement of 100,000 tonnes of copper at a grade that is almost 50% higher than the T3 resource grade and the copper equivalent of probably in excess of 1.5% copper. We saw some exceptional grades of up to 16% copper. We're still trying to work out what is happening with the geology there. But nonetheless, to say, those are some of the highest copper grades ever seen in the Kalahari Copper Belt, of which we have an exceptional dominant position of some 28,000 -- 26,000 square kilometers in predominantly Botswana and then leaning over into Namibia on the Southwestern side. But really the strategy for us to secure that position over a number of transactions I think, will be significant for us in the future"
Sandfire strategy to keep securing more ground by a number of transactions.......I wonder who else from, maybe a company they have an agreement with already to purchase a possible 15% of and put a member on the board ;-)
.....and just a reminder that Sandfire invested in Galileo with their purchase of more than 4% of GLR at 2.68p per share.
Exactly HD. If GLR were willing to relinquish licences for a potential max $80m payout, what have they seen in the retained licences? If good, it will be $100's of millions. If they thought it was a potential of another $80m, then surely they would have sold them as well?
Forgot to say, and once again, look where our market cap sites! 10 times where we are today would only take us to 160 million market cap. Really does make you think.
I still keep thinking of the $167 million purchase of mod by sandfire for the 11,700-square-kilometre they owned licence-wise.
I am not sure how many square kilometres we have left now following the sale of some of those to Sandfire, but bearing in mind Sandfire are willing to pay up to 80 million for good finds on the lesser quality licences thet took off us, imagine what might be contained in the licences we kept! If good, it will be hundreds of millions!
LJS - i sincerely hope you are right. 20p is dependent on the drill results from (a) SFR licences (up to 8p a share at $80m), then (b) say 6p from SZ and Glenover, leaving (c) 6p from the retained licences for an implied sale of $60m.
Now, GLR have been happy to sell less prospective patches to SFR. And SFR have agreed to pay up to $80m variable on contained copper, with a minimum of 200,000T metal.
So if $80m is max price for a prospect we were happy to let go of, I would be shocked if $60m was the price in mind for the prospects we retained.
That's where with good drill results at KCB, this could eventually be a huge asset sale. That's the happy path for this share.
lot of hope in that last post
The price now is around the XTR price before it took off after drilling for its copper (and similar market cap). So it went from around 1.8p when I got in to about 8p now. So any sniff of decent grades when we drill, should be able to bank on similar share price rises i hope. I would hope however, we get up to 6p on zinc news. I am hoping for 20p out of this one
Castiron - either way one year's profit at SZ is more than we ever need to prove up KCB (and the Sandfire millions will fund a huge chunk of that before needing any SZ cashflow.) The rest is just cream.
Thanks for that Westlad ......no idea where I got my figures from....... certainly not the first or last time I’ve been wrong!
GLA
The JORC in 2019 used a price per tonne of $2700. Today's price is just below $2900. So its going to be closer to $12m than $20m. Either way, its transformative to the business
I have to say that I am quite enjoying the calm before the storm, this has always been the time in a share cycle that i concentrate on accumulation at a leisurely rate - and this is no exception.
Once it is announced that we are in production and will actually be earning hard cash I think I may have to switch off for a few days because it will be a full time job just keeping up with the posts on this BB.
- Although I may not be able to contain myself when we break 3p!
I would prefer news on the 6th April after I've Bed & ISA'd .
Nearer 20 million at current prices HD
Roll on. Yes so taking into account splits to contrators etc, we may be gettign 10-12 million in the bank? Who knows ?
Nearer 20 million at current prices HD
Keep the Faith
GLA
Im willing the end of March on lol. I want this lovely news. We so deserve to be higher than 1.85p. This is mental pricing. It will happen, it has to. We will be generating 12 million plus per annum soon in revenue and we have a market cap of 16 million! The rating has to fall in line with our earnings.
Very good Ella10, genuinely made me laugh.
too much excitement from the drilling of potential monsters.