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I do think it was great to get confirmation SZ is still in the offing and hopefully getting closer. A bit disappointed that we needed to push so hard for an update and that it came via a podcast but hopefully an RNS to say things have kicked off is in sight. KCB drilling will be very exciting but I will feel more comfortable when SZ promises are delivered.
This is fantastic for us. I'm really impressed by the intent to drill KCB end of march. The way the market reacted to drill results of Kavangos first samples made it double its sp in 7 weeks last year, then on from there......also, we all saw the market reaction to XTR core samples, why wouldn't we be the same.
Thats without even mentioning SZ. Q1 as stated or slip to Q2.....it doesn't really matter for me. Its going to happen and we have cash to support us until it does
Certainly JLP don’t seem to be in any hurry getting their Zn circuit up and running Ella.
I must say after all the confusion of the last couple of weeks I really do “feel like Dancing” ....Leo
GLA
Thanks Castiron. My interest stems from also having a small holding in JLP - it used to be much bigger until I sold out at a decent profit and then bought back in on a dip. Looks like the zinc play will be good for both .
Pity CB seems to be spread so thin as I am sure if this was his only iron in the fire he would have had this information out sooner and probably by RNS , followed up by a presentation . Time must be a continual battle for him but something suddenly got his attention here ( large shareholder ? ).
Phoenix - Ka****su needs to be proved up to JORC. BHP have drilled previously but think this is the same stiuation as SZ where we expand the resource based around a core of previous known results
Ella - couple of points.
1. Well established that JLP aim to start zinc production in Q4 21. Also well established they need 6 months stockpile - which means they need some SZ material imminently. Waiting to prove up Ka****su does not align with JLP Zn production start dates.
2. No one would "risk their reputation" on GLR comms. We found out more in a 5 min podcast than we have in the last 6 months, and without an RNS we've got two definite suitors for Glenover; done test mining at SZ, and almost completed the operational structure to begin mining; and found a 37KM strike zone that we will begin drilling in late March
Ka****u is in a package with Kabwe tailings and a smelter. Both owned by BMR. CB Has to separately allocate Ka****u to GLR and leave the other two with JLP. As far as I understood Ka****u will be again diggers and truck job. No proving assets.
Who's going to risk their reputation and name a date for an RNS that states we have commenced mining SZ and are delivering to a customer?
CastIron,
There was no mention of Ka****u. I wonder if JLPs longer timeline for Zinc may mean they lineup?
Ella - At 2:10 - 2:30 he says ...."we have almost completed the entire structure to be receiving cash flow from that project in the very near future."
That does not sound like a project that has a "bit to go". Think you're right in terms we might not know who all the customers but there will be several not one, and one of them will be JLP. They said many years back that it would be unlikely JLP would ever need the entire output.
Hi Ella the processing plant may only be a large crushing machine for ease and economy of transportation.
Evening MrN.......As far as I am aware there is no formal tie up with JLP for Star’s Zinc.
Obviously CB is on both boards and JLP, it was said, had an obligation to clean up the Kabwe toxic dumps for which Star’s high grade Zn would be beneficial. That said our tie up with Zopco has always made me doubt the strength of this co-operation...........but what do I know
GLA
Hi Phoenix,
I didn't hear him mention the processing plant in the interview - did I miss that?
Westlad,
It means that it sounds like there are still things to be finalised ( eg who the customer is!) before the plan is ready for execution.
Thanks for the link Leo.
I think SZ will take care of itself in the near term and the excitement CB has about the KCB is very encouraging . The future is looking bright over the next 4 months and who knows how much better it will get .
Surprised he has not made more of the fact that 50% of the $3M due from Sandfire is in 370K Sandfire shares which was based upon $5.277 whereas they are currently worth $6.18 per share , so a profit there ! Thats without the bonus element , which would be the icing and cream on the copper cake . Plus our own KCB exploration and drilling - note his comments about the US
Organisations assessment of the KCB as being of world class potential . Those licence acquisitions were a steal .
I am a long term holder of GGP and have seen the share price decimated in weeks . It will come good , eventually , but I see GLR having more growth in the short term as the value of the assets are revealed .
One matter I am not 100% on is the link with JLP on the zinc project . Could someone enlighten me please ?
Not a great day for miners / commodities but a very encouraging day for GLR.
Westlad
The processing plant is being completed only few kilometres away from Star Zinc and we will have trial run soon.
Hi Ella he said Star zinc and Kalahari would be concurrent and we drilling Kalahari in March!
Glenover news will be in May/June. It will be news on superphosphate first. So guys don’t expect hundreds of millions in offtake. Major money will be in sale of REE after the floatation. We know there is a huge war going on about REE between China and USA. If we have REE which is the wanted ones then we are talking about millions in deal. GLA
Ella10 - what does "still has a bit to go" mean?
CB clearly says "monetisation in the very short term future".
Is someone able to post the link on the other board?
Leo,
Thanks for the link.
CB,
Thanks for the update.
Looking forward to news of revenue from Star Zinc.
CB didn't mention issueing the final results of the KCB survey (although he did mention drilling this month) or Ka****u. I am hoping Star Zinc delivers so that we can all enjoy the excitement of drilling the KCB knowing we are already generating revenue. It sounds like SZ still has a bit to go. Maybe Glenover will deliver this year...
You never know HD, BUT given three main projects to choose as most exciting, thought it telling that he chose the one that hasn't even been drilled yet, while the other two are already near worth around $80m combined.
CB “The trains are all arriving together”
Tickets still available for this journey at a cheap price, but not for long.
All aboard!
Yeah cheered me up too mate ...I always liked Leosayer........”you make me feel like dancing”
GLA
Me too Westlad. I think he already knows its a monster copper desposit!
SZ operations structure almost complete, and monetisation to begin "in the very short term future". Glenover, two suitors - one interested in phosphate, with Glenover selling the rare earths; and the second in both commodities; with potential monetisation at mid-year. KCB - drilling late March / early April, along a 37KM strike zone, starting at the dome - barely contained excitement there.
Can't tell you how much that 5 mins cheered me up!