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How about a Royalty?
Luansobe could run for decades. Mufulira has been in operation since the 1930's, 90 years or more, how much would that be worth to a Royalty company?
I did notice a mention in the jubilee metals report out yesterday that they were setting up new deals with local smaller scale copper producers to suppliers. Knowing that Colin and Leon are close, luansobe could fit the bill to connect
(Unless someone else gives us $40m cash for it of course 😀)
I hope we mine luansobe for a couple of yrs, prove up the extension and the deeps and then flog the lot, get the full pay on it and we have 2 yrs of copper deficit for the Prices to get their teeth into, their could be the motherlode there, sell the Zimbabwe assets but mine luansobe for a bit, sp would rerste and hold also, then the added bounces on the addition tonnage ( grade permitting ) fully explored and producing would command top $
Me too. Possibly a variation of deals we have seen before. Sell off the small pit and the business model of deep extension post pit exhaustion. As part of the contract the "buyer" funds an expert at exploration "GLR" to explore the deep while the shallow is worked. 51% GLR, 49% buyer initial split for the deep section. As GLR proves up a resource, the dependent on contained copper, the % ownership changes on a sliding scale. Say ending up at 80% buyer and 20% GLR if there is XK tons of contained copper. Much like the AFP/ FQ arrangement for the North West Foreland. Little downside to both parties that way
Interested to see how this would present to potential purchaser. A good grade, low cost (capex/opex) open pit with quality processing and route to market nearby. A two stage upside, underground with known mineralisation to 1250m followed by the 'deeps'. Who knows where that might lead, Ko bold only kilometres away and 5% Cu. Mufulira is 2km+ deep. The supercycle for metals were told is only beginning and copper is forefront. An absolute gem and certainly worth the wait.
Keep the faith. We have the portfolio. Progress is being made. It’s a tough industry. The bull cycle has arrived. I expect significant bags from this stupidly low market cap. And when we hold several aces we have someone who can make deals in charge. Frustrating at times. Finally coming good after a long wait.
I would just like to see CB deliver for once!
Hi Coyote, same on my end. It won't load. It was 3 parts originally. Whe whole exploration license, then 2 small scale mining license apps. The top or most norther we can easily see is the smal pit as it's the same shape as the reports on Luansobe. The middle one is what we assume to be the deep small scale mining license app
I have temporarily posted a summary on twitter from my old screenshots. It very well could have changed as the cadastre is not known for its accuracy
https://twitter.com/Sharedata12/status/1781037168674160904?t=yve-NZRZFjR-9wLm9mlIvw&s=19
I'll delete the tweet later tonight or once you say you have seen it
Best to sell out sumo.
Personally I’m just hoping we’re not building up to another disappointment!
Keep quiet on the license. Point at an improving macro environment for copper to bolster expectations. Meanwhile shares and liquid investments with cash incoming give us strength in any negotiations. Take a position and ignore the noise. Looks like it’s coming together. Well done all LTH.
Thank you DC. All I can get this end is 'no results found'. Is the licence split into two or three parts, open-pit (34543), underground (?) and the exploration target/deeps (34545)?
I have an old screenshot of the licenses
34542-HQ-SML is starunga (now deferred) but is not related to GLR. It was coincidentally applied for at the same time as Luansobe but was in fact to the south east of Mulufira.....so nothing to worry about. Unfortunately for them it was at "validated pending approval" before it was Deferred
LUASNSOBE
Shallow - mining license app is 34543
Deep - what we were referring to deep mining license app 34545
The cadastre is very "sticky" at the moment so hard to load them up
I'm on a similar mind set as you Money. The 79th mining licence Comittie sat 11th-12th April. So the GLR team have been sat on this for a few days now before we got to know about it. For the 3 years I have been investing in GLR, we have never actually been granted a mining license, so this is new (but excellent territory). We don't usually hear about exploration licenses granted.
However
A mining license is literally the key to unlock absolutely all that hard work that has been put into the asset so far. Millions of pounds and 2 years of time. Surely we need to celebrate with/update the shareholders on this huge turning point.
Also there surely is a forward plan now based on the succes of this unlocking of the value in the ground. Sale/mine etc etc.....a huge update is just waiting behind the scenes. Put it this way, we aren't going to do nothing with it now are we :-)
Hi Coyote
By coincidence it is on this screen shot of Luansobe (west). The G-Tec license is to the east. It is the larger of the 2 concentric squares in the purple large scale mining license that is Mulufira. Amber larger quare, clear inner square
Or type the number in the search below
https://portals.landfolio.com/zambia/
Ok. So our Col’ is quiet on twitter regarding GLR and only bigging up copper prices… my assumptions are.
1. Big Col’ is in an NDA and got us a big fat RNS coming with possible multiple news
2. We’re going to get an RNS by EOP tomorrow/monday.
If no RNS by EOP definitely an NDA going on and a whopper of a RNS coming.
All imho, gl ltsh, YMCA, etc.
Sit on your hands Guys and Gals 🤩
Anyone here know where G-Tec Ltd Licence No 34548-HQ-SML is located?
Also listed as Copperbelt-Mufulira (Deferred). It's an area slightly smaller than the Luansobe open-pit area at around 300 hectares. Thanks.
I am not concerned about the 5% rise today considering we have had no comment from GLR via an RNS. I suspect an RNS soon and maybe they are wanting to include details of the process of mining or possible sale at the same time. The acknowledgment of the mining licence will be the catalyst for the talks of the potential contractor or sale process to conclude.
Good news: https://x.com/jenstilmanydots/status/1780957026027552924
No worries Cyberiachas. It had me looking twice! But it is definitely a small scale mining license application - I have been dreaming about that ruddy application... :-)
Ok thanks Ana I see that all the others in that section are SEL so that makes complete sense, just a glitch in their listing - good news
Small-Scale Mining License (SML): This license is granted to individuals or groups for the purpose of conducting small-scale mining operations. It typically applies to mining activities involving relatively small amounts of resources and limited mechanization.
Large-Scale Mining License (LML): This license is issued for larger mining operations that require substantial investment and infrastructure. It allows holders to conduct mining activities on a larger scale and often involves significant mechanization and capital investment.
Prospecting License (PL): This license grants holders the right to explore a specific area for mineral resources. It does not permit mining activities but allows for the collection of geological data to assess the potential for future mining operations.
Mining Rights: These licenses grant holders the exclusive right to mine specified minerals in a designated area. They may be issued for specific minerals or mineral groups and are typically subject to conditions and regulations set by the government.
Artisanal Mining License: This license is issued for artisanal mining activities, which involve traditional or informal methods of mineral extraction carried out by individuals or small groups. It is usually granted for small-scale and low-impact mining operations.
It's a small scale mining license. It was put in the wrong place in the document.
SML - is small scale application license - and confirmed on the Portal - when it's back up ...
OK please do shoot me down in flames on this one: the license referred to by analytical this morning 34543-HQ-SML Statunga Investments Limited is listed under SMALL-SCALE EXPLORATION LICENCE APPLICATIONS and is shown as Approved.
We are after a mining License are we not?
Can someone please clarify for me.
Haven't been able to access the portal to confirm the license that covers the open pit element as above but no reason to doubt that.
The map has not yet been updated. The Mining LIcense Results are produced by the MLC (17th), and the updates will follow.