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The artisan one was .out likely delayed due to the issue of liscence handover though. That blown the 90 day duration and the small scale exploration one appeared. So presumably that's why the artisan was so long. This time there shouldn't be an intermediate liscence needed to be granted
The artisan mining licence took from Sept to Feb for approval. A small scale mining licence probably takes longer than an artisan one but we may get it quicker due to the Artisan licence previously being granted.
Thanks DC. Very helpful. One more hurdle!
Hopefully we won't ge too far off the liscence being Validated
The small scale exploration liscence was applied for 19/2/21 and reached the "Validated" stage around 24th April 21 (thats the day I noticed it). Approx 2 months. The mining liscence was applied for 6th Sept, so 2 months to "Validated" would be next week ish given same duration.
That being said I think 90days is the max which would be 5th December
So all in all, not far off as long as there's no issues
Hi Phoenix
'That one family won’t be able to raise concerns after small scale license is approved which should be any day.'
What makes you believe the licence application will be approved any day- the application hasn't even been validated?
Phoenix - is the info you provided from the AGM? Good news if so.
Westlad it was a old news. That time work had stopped temporarily as one family complained of noise. That time star zink had only artesan license but they went with Big Bang. They actually need small scale license which they have applied now. Since then 2 container loads have been shipped. Once the buyer is happy with the zinc grades and once star zinc has small scale license shipping will resume. That one family won’t be able to raise concerns after small scale license is approved which should be any day.
Oh dear! Not the best news
Thanks Westlad,
That cleared up the apparent inconsistencies I was seeing in the article. Not really what I wanted to read....
Ella - did some research online and can't discount what you have found. Google Earth has a map last updated in May 2021, and that shows Star Zinc clearly with mining equipment on site with cleared soil etc. The article states that one family in Mungule is opposed to the mining having relocated two or three others. However, Munugule is 26KM from SZ, so i assume this is a reference to the area rather than the village.
Then, i re-scanned the JORC report on the Galileo website, and in there it clearly states that not everyone in the locality is positive about the mine development. The article also mentions underground mining from the 1950s, adding further fuel to this.
The GLR annual report says that preliminary mining has occurred, which is linked to the need to get samples assayed and QC'd by potential customers.
This could have happened prior to June, when the report says the mine was closed.
I get what you're saying IKy, sometimes it can seem like replies on the BB are always positive. From my presepective particularly, if an RNS isn't very good its not that I'm dismissing how bad it may or may not be or ignoring the SP direction, it's usually that iv already taken it on the chin and I'm looking again to the future to decide if I should still be invested. I personally believe in GLR for its fundamentals and despite these bumps I think it will go far. We have the assets , the team and the money. So with that i remain positive about the future of my investment here despite current disappointment.
In terms of concordia iv been doing a little reading. Was it actually a flop? It's hard to tell. The Aug RNS 2017 states it had drill holes ranging from 0.26 % copper up to 0.88% and the estimate before drilling was 900k tons at 0.89% with 0.2% cut off. So to me it sounds like the copper is actually in concordia and they proved it
This article :
https://www.miningmx.com/special-reports/mining-yearbook/mining-yearbook-2018/34211-hayes-in-rethink-on-concordia-copper-plan-after-lessons-learned/
Seems to suggest it was some sort of break down of the relationship in the joint venture with Shirley Hayes and had to be settled in court and GLR lost.
"Bird got involved through Galileo Resources plc which set up a “co-operation and joint venture agreement” through which Galileo would commit the funds required for a 51% “earn-in” stake in Concordia. The amount specified was R10m over a 14-month period. It did not work out well.
Both sides have differing versions over what actually happened, but it culminated in Galileo bringing legal action in the Cape Town division of the South African High Court against Hayes. The Court ruled in Hayes’ favour in November last year"
Could be why today some of us newer investors I.e less than 3 yrs, see Colin steering well clear of joint ventures
I could be way off here but looks to me like concordia and the way it was explored was a success, but the joint venture was the problem. Fast forward to today, and the KCB, we are going it alone so that issue doesn't exist and we don't have to worry so much about concordia comparison?
I thinkso too Ella. The audited results should be next month, but would be good to have some movement on at least one of the assets before then.
"Drilling is ongoing on PL253/2018 and drilling has just commenced on PL39/2018 with the aim of testing an extensive airborne EM target on this property, focussed on the margins of a regional scale dome feature"
2000 metres in 040 and 1300m in 253 and ongoing, 039 started.
I think we have time for more drill results before Xmas
glenover has been for sale since i came onboard pre concordia days gla
Thanks for the info DC. I assume this is the reason we haven't had confirmation of SZ cash. I was searching for info on the deal with Ka****u when I came across this. We definitely need an all encompassing update from GLR.
Hi Ella, I noticed this a while back.
I posted this video in August which In the background I compiled to show operations and movement on SZ since the article was published in June....In the absence of being able to find an article of it being open again
https://twitter.com/Sharedata12/status/1421788122157928452?t=DdYIbjlLxzYrWxVCdk4C6Q&s=19
I messaged Joel about it and he didn't seem too bothered altho no firm answer wither way to be truthful
The article states noise etc so I really think it's the locals just wanting to be paid off and trying their luck. It's a local company doing the mining so have far more sway with the argument amongst themselves. However as seen in the video it does look like operations are under way, coupled with the AGM info and the statement about samples sent etc.
The small scale mining liscence applied for by siege on the 6th Sept, I imagine is belts and braces for the ministry to authorise full scale mining and no locals being able to change it.
Hi Oiltap,
It would be interesting to hear more about the info provided at the AGM. Some things in the article don't appear to align with SZ but it seems too coincident. Also, the article is from June so things may have changed since.
Good post Westlad,
I just came across this which doesn't look particularly good but I haven't found enough info to determine what it's about or if it's related to Star Zinc. https://dailynationzambia.com/2021/06/re-open-zinc-mine-cry-mungule-residents/
Iky - realism cuts both ways. Those popping up portraying the RNS as a disaster probably have an ulterior motive. Realistically, the RNS this week was very good. Free carry drilling on a first time hole paid for by the largest (?) player in the KCB right next to their existing mine ($4m will pay for 20,000m of drilling!).
Finding the D'Kar formation nearly every time when none of our competitors have is also huge. If you look at page 22 of the link Caterham sent the other day, you will see 3 major deposits all found within 30KM of each other, all near surface and on the boundary of D'Kar. So finding that formation, and calculating the width of the D'Kar tells us where to drill next. If the formation is very thick, then we are likely drilling in the wrong place - when you see the diagrams you'll understand. That's my non-geologist's guess as to why they went so deep. Interestingly, the hole that intersected copper at SFR's acquired licence was shallow - exactly as the thesis shows, and what the theory is with regard to drilling targets. So now they will drill more holes to understand whether the D'Kar is getting thicker or thinner - with thinner indicating target zones.
Do i think the share price SHOULD be 4-5p? No, not after we had to compromise on the SZ deal.
Do i think the 20% drop was a complete over-reaction that missed the point? Yes.
Do i think it's worth over 1p? Yes, but i'm not the one who makes the market.
Will it be worth more than 1p if Glenover sells? Very likely and surely we'll be over 1.5p at that point, with further uplift upon confirmation of SZ revenues coming online.
Do i think GLR will be successful? Probably, Ka****su is huge. My caveat is Ella's discovery that Siege have been granted an exploration licence as well. This again has been left unexplained by the company.
Do i think we will find copper in the KCB of the right size? Only God knows that, but we've had a good start.
Do i think the comms are truly awful? Don't get me started.
Am i still invested in a large way, and happy to hold since 2014? Yes
It's an infuriating investment but all i've learnt is that that is name of the game when it comes to mining juniors and exploration.
Thank you westland for a more realistic post. Gla
Ella - i think you are spot on regarding XTR being a huge distraction to progress. It has dawned on me also in the last few months. Its the same people across "the portfolio" as CB calls it. And given the scale of what they might have found, it is no surprise that XTR is somewhat time-consuming.
That said, small, frequent RNS's would have helped paint the picture of progress across GLR projects this year. SZ ore being analysed as we speak which opens the door to royalties; Glenover, apparently, being sold; Ka****su drilling programme imminent; and a better explanation via podcast of what the drill results in KCB actually entail.
Only hard positive facts will now move the share price. And if they really are that short of time to devote to GLR, then surely they know people in the industry who they could pull in to help?
Maybe cb has more to say regarding other companies hence why he always gets sidetracked. Guys/girls if an individual goes against "the party line" on here ( only positive or hype expectations) please try not to start calling them names etc...
Not everyone agrees on the same thing, data you've been great on here, thanks. But cb has also previously said " coup of my career" and " glr is a different company now" ... for it all to come to nothing. Yes its the past but come on some of us have been here a long time and not much has happened in the right direction, before anyone says we're a different company now and have progressed a lot, then I'll say look at the sp. That's what really matters and why we in the game in the first place. Assets, projects etc etc are all good if it actually has the positive impact it should have, at the moment it hasn't.
It seems like after each rns we get that doesn't do good for the sp, people are looking for points to find the next good reason why " its all going smoothly"...
Imo the market is NOT stupid or blind to facts... best of luck all.
Also, Colin if you are reading, please keep the next Zak Mirs interview strictly to GLR if you can. The last two have had our limelight stolen by JLP in the first instance and then this time around XTR.
We rarely get a nice interview, so would be nice to actually have the full interview focussing on us. The last one for example could have touched more on our other projects rather than a further 7 minutes explaining how good XTR's copper formation is.
I think the big annoyance, is there is a big disconnect between the different companies and what is actually happening. XTR where I am also invested is very good at comms. If Colin farts, there is an RNS about it. Here, not a whisper for months.
Hopefully we can get a RNS soon
its been that way for a "long" time and agree time for CB to pull a big rabbit out of a hat asap, cb is in his swan song business wise be nice to go out on a high wouldnt it ?