Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I suppose the only difference with JLP and a CB placing would be that if we buy Copper in Zambia we already have a process/refinery to extract it? It’s not exploring and hoping, it’ll be processing and earning!
Probably right MH, very difficult to know though if an application represents a material change in a company and thus requires an RNS - who knows.
2 in a day for CB - big dilution at XTR for another venture into Copper in Australia. CB is my only really concern here at JLP and I really do hope that he is only one voice on the board. I just don't get why he couldn't give GLR and XTR 12 months to get their projects going, make some money and fund purchases from profits rather than more and more dilution - and I certainly don't buy the - "it has to be done now whilst the market is depressed scenario." And that is why I will say it again - I hope CB's influence is limited at JLP.
Assume GLR will be stock piling before JLP will be ready, to provide a good steady feed, therefore all looking good for PGM, Copper and Zinc production across the whole business .
TT, i understand from some posts on here and the GLR board that CB said the licence had already been applied for at an investors presentation towards the end of last year. However the official news via RNS's has never said this, and has only ever referred to an application due to be made. Would suggest that until there's an RNS that confirms an application has been made, we should assume that no progress has been made on that front.
I'd expect CB to try and time Star Zinc development with Kabwe being ready to process their ore, so an application going in would be very good news for us that Kabwe is getting ready to process both star zinc ore and our tailings.
Yes MH. Nowhere for the Zinc to go anywhere so as you so immaterial but CB has some front!
TT 'And on that point despite what CB says I really cannot see us processing any meaningful quantities of Zinc for another 12 months ' - That looks like plenty of time for him to slip in another placing. They'll have spent this raise by then !
Hi MH, I wish I knew as well on the license. The placing is pretty much the same wording as the last 2 but adds in the copper project now which will take multiples of £900k to explore. I was under the impression that the license had been applied for many many months ago but that appears not to be the case. Some clarity on timescales would be useful so we can forecast JLP's income stream from Zinc. I feel though that the clarity can only come from LC since quite frankly what CB says and what actually happens are usually polar opposites.
And on that point despite what CB says I really cannot see us processing any meaningful quantities of Zinc for another 12 months and that relies upon the circuit being close to ready by year end. Some other posters have questioned where that leaves us with the Zambian Govt and the Kabwe tailings and whilst my gut feeling is that this in hand - naturally it is a risk until we get more clarity from LC.
TopCatz, it is looking like Star Zinc is going to be more costly to get into production than CB has been letting on. Unsure what the hold up is with making an application, perhaps they just haven't had the funds to get the necessary reports and assessments together. Now with their recent rise in Mcap they've been able to raise a lot more than they could have done a few weeks ago, so hopefully they can get on with it.
Although rather immaterial at the moment, until we've finished the zinc circuit at Kabwe they've got no where to send the ore. But as we know work on that is on hold, and we're just using the plant to produce copper/cobalt.
It's shocking MH, really. Not the placing. We all know they are an AIM staple but the fact he's on record on one of his rampy interviews with the TW and his tipping rag saying a placing won't be necessary and now it's looking like they haven't even applied for the small scale mining permit, even though there has been 2 previous references too it. CB is pretty much taking the pizz out of shareholders
Placing at GLR today for £900k
"The Company intends to use the proceeds of the Placing for general working capital towards exploration on its newly acquired copper-nickel-platinum group metals licences in the Kalahari Copper Belt of Botswana (the Kalahari Licences) and progressing its Star Zinc and Ka****u projects (the Projects) in Zambia, including, for the former, an application and related environmental activities for a small-scale mining permit."
Think this is now the 3rd placing for funds to pay for a licence application at Star Zinc and I'm still none the wiser as to when they're actually going to make the application.