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Interesting responses . The KCB and SFR is what is keeping me invested here as I believe both will create a lot of increased shareholder value . Ela mentioned that we should have a healthy bank balance as the fund raise would not have been fully deployed to SZ . I am therefore interested to see from the company reporting of cash held , including the $1.5M from SFR , the value of the shareholding we now have in SFR , the amount of dividend attaching to that shareholding and the amount subscribed by SFR for their shareholding in GLR . This would/should give us comfort that we have a solid cash base from which to put our foot down on the exploration of the retained KCB licences .
That can then be supplemented with the balance of the SZ sale proceeds and a programme of expected and actual royalty receipts as and when received . Ok , the response to that is probably CB knows all that ! Ok , then just share it .
For me this would help put something solid to all the words and help repair some of the short term damage to the SP and confidence by what is probably seen as a strategic u turn .
I am not knocking the investment case as I am sure the KCB will prove to have been an exceptionally shrewd move and I do have high hopes for the company ( if not I should shut up and sell up ) but I do see the need to be realistic and look beyond the words - lets see some figures to evidence what we all feel , namely CB has played a blinder , even if he was the only one who knew what he was doing .
The markets reaction today has not been good , no one can dispute that , so keep the dialogue and news momentum going to explain the end game and how we are going to get there as the story unfolds . CB's big portfolio picture based upon a copper call makes sense and reassures me but at some point you have to have more to work with than , intuition , interpretation, speculation and blind faith.
141k buys 76k sells and yet down 14%? Hmmm games afoot
Hi Phoenix,
There are several very interesting comments in your last post. The historic company updates also make a very good read.
Also folk don't forget that the vast majority of thefund raise last year to progress Star Zinc will be sitting in our bank account :-)
Well I suspect Colin will want to make sure Kalahari is drilled asap to get people focussed on the value that is contained there. He mentioned 3 weeks but worst case end of March. If I recall they had an expert consultancy with them on the surveys that have been involved with many other successful finds Spectral Geophysics quite possibly? They will know their stuff.
There is a reason Colin is keen to get this drilled and prove up what we are sitting on! As also mentioned, all three assets Bushranger at XTR BZT's copper resource and GLR's KCB have potential to be world class! If this is the case, and I am sure Colin thinks this is so, we are sitting on hundreds of millions of dollars of copper
Sumo - worth noting the following exert(s) from the RNS:
"For information but not as a forecast of future production at the Star Zinc Project on 14 November 2018 the Company announced that following a second phase of drilling the tonnage target was between 600,000 to 900,000 tonnes with an estimated average grade of 10-12% zinc at above 3% cut off grade."
"Siege have indicated their intention to commence mining imminently, producing in the range of 6,000 to 15,000 tons a month of saleable ore but it is recognised the initial production may be lower."
Ref: https://www.lse.co.uk/rns/GLR/sale-of-star-zinc-project-strategy-update-xpz0siivm8sdl4z.html
Just to provide some rough calcs to demonstrate likely longevity of the monthly income:
600,000 T at a rate of 6,000Tpcm = 100 months (8.3 years)
600,000 T at a rate of 15,000Tpcm = 40 months (3.3 years)
900,000 T at a rate of 6,000Tpcm = 150 months (12.5 years)
900,000 T at a rate of 15,000Tpcm = 60 months (5 years)
I'd suggest a PE of 10 is a over the top for this project but I'm in agreement with the sentiment of your post, the monthly income will go a long way to supporting the current Mcap. Some of the other project could blow it out of the water imo.
Imho what emails we had in the past from CB one of them he did say “I have a different plan for star zinc”. I couldn’t have guessed what he meant only thing I knew was it’s something that we not expecting any it turned out the same. He certainly didn’t expect we would find Mr Chelelwa and seize getting licenses for star zinc. He kept it hidden until the interview to tell us about copper. Mr Chelelwa had applied license sept 2020. So clearly he knew he was giving it away. But like he has built up other companies he knows how to move pawns. Honestly there are companies on Aim at the moment bringing 100k in REVENUES and their cap hundred millions. So £250K monthly income and it’s income not revenue you can calculate the market cap. Next interview will throw more light on the businesses. GLA.
I suggest keep reading copper acquisitions RNSs and their strategic locations and what others have found in the same strike I guarantee it will certainly bring smile on your face. It’s not just copper but silver, PGMs. GLA
Exactly that Sumo!
dont let dissapointment cloud judgement on the facts that remain
With all the negativity about this the bizarre thing is that $300k a month and a PE of 10 supports an SP of 2.5p. If CB does an XTR on GLR which could happen in 3 months if drilling begins in March then all will be good in multiples!
My take on all this is positive, having re-read the announcement and listened to this mornings interview on ShareTalk . The KCB is obviously the way forward with the SFR deal helping to fund exploration of our own licences ( good to just refresh yourselves on what that deal gives us in total now and and the potential ). It seems to me CB was in a corner with SZ and has escaped as best he can . How he got himself in that position and how all the contrary rhetoric and history squares up is of concern.
Do I like how it has played out since the earlier ( pressured ) ShareTalk interview - No is the answer but then it is easier to play the game from the sidelines , so jury still out . Also , not much choice for me as I am new into the share and looking at a loss at present.
Saving grace is the KCB and SFR deal which I believe will eventually be transformational for GLR . Without that the SP would be looking somewhat worse than it is today . Lets hope the surveys and drilling deliver what we and CB expect and that the news flow starts soon and is regular . Any prolonged periods of quiet are likely to spark undue concern through speculation based upon " another SZ " , which CB needs to guard against for all our sakes . I think we can be confident that CB will be watching comments on this BB , having seen the diligence and awareness the likes of Ela and others displayed in picking up on the anomalies surrounding the SZ licence .
Those on here who have had a previous bad CB experience and now the bolt out of the blue RNS today, can rightly be feeling aggrieved and should be respected by us newcomers for the way they have not reacted in the often abusive and childish way I have seen on many other BB's. Fingers crossed this strategic repositioning pays off for all of us .