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Hi Oiltap,
Where did you find the info that QH has share options in GLR? The Nov RNS does not mention consultants as owning any shares and I am not aware of him falling under any of the other categories but could well have missed something.
https://www.lse.co.uk/rns/GLR/issue-of-options-b6knb5cgvfzvngz.html
Couldn’t agree with you more DC. License 39 and 40 both potential for stand alone mine.
If you guys want to know more about airborne EM survey read KAV RNSs. Interesting stuff. Also as usual some videos on YouTube. That’s how I understood how useful these surveys are in locating targets. Gla
The best bit of the last Zak Mir interview was where collin said all the copper projects in xtr, glr and bzt have the potential to be world class. Xtr is getting there, I really do think they already know glr is likely to follow suit with where we are positioned.
Our PL040 that we retained is by CCC zone 5.......which has 100mt of rock at 2% copper and 12.8g/t silver.
20 times the size of the A4 dome and we are next door
Certainly does! And very exciting it is to be a paert of it all too!
"The immediate and most advanced expansion opportunity for the expanded 5.2Mtpa Motheo Production Hub is the A4 deposit, located 8km west from T3. The A4 deposit hosts an Inferred Mineral Resource of 6.5Mt at 1.5% Cu for 100,000t of contained copper, with both in-fill and step-out drilling underway to upgrade the Inferred Mineral Resource to Indicated status and underpin the completion of Pre-Feasibility and Engineering Studies"
We get a payment of up to $80m on the first ore reserve over 200,000T of contained copper. That is twice the size of A4 according to Sandfire's numbers.
Makes the mind boggle then what the retained licences might contain? In the podcast, didn't CB say something about 2.2% @ 10m thick that dips down steadily?
Will be an interesting read for sure. As I said a while back, they already know its good, hence the speed at which they are moving towards drilling the beast! That dome could well be a company maker.
Snap
I read few RNSs of Sandfire today. And mind boggles with what they found in T3 and A4. Market didn’t catch on when CB said “we have a dome”. What’s that dome is clear from Sandfire news. Alone license no 39 and 40 will make individual mines. One of them is a “dome”. No wonder he is so excited. But as I said we need results of EM survey, spectral analysis and couple of drill results to take this to the moon.
EM surveys in this region are well correlating with drill results. I can’t wait for the rns of helicopter survey and spectral report followed by CB interview. GLA.
My initial posts here were to praise the deal CB had done on the KCB . That was followed by CB's reassuring podcast which was then followed by the bombshell RNS . For me , the things to take from all that :
1. KCB is an excellent deal . Like Ella I had some doubts about delivery , following the SZ bombshell , was it going to turn out like SZ ??
I have re-read the SFR deal and CANNOT find any conditions which would put it into question . Agreements have been signed and the rest is process . So , the KCB deal in my view is still an excellent deal and the way forward for GLR.
If you want further reassurance on the value , look at SFR results and share price and see how much they are banking on T3 and A4 discoveries . Their DeGrussa mine in Australia will not last forever and they need an alternative , which is the KCB and they are so confident in what they have discovered to date that they wanted more - CB made sure they paid a good price for it .
If you track ( on the ASX ) Cobre Resources drilling progress for their licences in the KCB , which they acquired through Metal Tiger , you will find it a useful guide as to what we are likely to expect . What CB did with SFR is exactly what Metal Tiger did with them . Sell off some licences for capital / shares and future royalty and let them do the exploration and mining work and retain some licences. Lets hope CB doesn't waste it as Metal Tiger have .
2. What we need to see for GLR is a strategic picture . If it is to sell everything off , other than the retained KCB licences , and generate cash , investment holdings , royalties , what is going to happen to that cash / income ? Are we going after other investments or JV's for the KCB or new opportunities ? What does GLR become in the next year , three years ?
Otherwise it looks like it is being opportunistically cobbled together . If that 's the case , tell us . Not a problem but we can then decide whether we want to stay or go , for how long and when .
3. Lets have a statement of the current cash and potential capital and royalty streams so we can see the benefits of what is being done . Note , exclude the SFR Bonus from that - great if it arrives but it distorts the picture and is not guaranteed .
4. Get somebody dedicated on communications to improve and manage the news flow. That is the life blood on AIM .
5. Check out Mining.Com to read how Zambia is rated amongst the mining jurisdictions and where it sits amongst the growing number of African and Latin American mining countries likely to reclaim mines from foreign entities or raise taxes to uneconomic levels so as to recover from the economic damage caused by the pandemic. Even Canada gets a mention !
So CB's exit strategy may have been a good call . It is also possible pressure was already beginning to ramp up in Zambia - keep it in house - having left CB with no alternative .
I am sure we had the unexpected news last week at the wrong time and that the share price will recover .