London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
If these small mines can get working and running the ore. Will they just be mined for revenue or will there be ongoing exploration to increase LOM towards being sustainable for longer?
Any indications from GM or other?
Appeared from early indications that Kakuyu could see it being developed ‘toward’ a larger operation with mine longevity.
hi again iwto
there’s a reasonable assumption a sale of br will happen at some point, copper price is the ultimate driver of course. the economic model is currently going through the simplest and cheapest optimisation first i would say, of cap/op costs including further metallurgy to increase recovery rate as first round had an anomalous low reading from one high grade sample.
tomra ore sorting wasn’t amenable to the important higher grades that are crucial to have the most profound effect on the economic model as will ,
• reduce processing and operating costs
• reduce pre-production capital expenditure due to a significantly smaller concentrator
• improve concentrator recoveries due to higher feed grades
• generate more co**** dry rejects that are easier to manage
• reduce the size of the tailings dam due to less concentrator feed.
other sensor based tech is highly likely to be looked at as it can reduce concentrator capacity down front 20mtoa to 10mtpa, whilst we wait for interest rates to come down that will see fuel, power, materials etc costs all come down to increase the economic performance. there is still option to increase resource to nw so can’t rule out more drilling while we wait.
seems likely the buy back agreement was exploited as a marketing tool throughout as now it has been suggested that there is an inexpensive exit strategy as decision to mine to trigger the buy back process is not an option.
as for value, away from valmin a dcf model can maybe then be used, so with viable economics at conceptual study level, an acquirer should pay for what is in the jorc but will be largely discounted as the resource will not support ore reserves. only 50mt is indicated rest is inferred.
think that is a fair ‘objective’ view overall.
short version…. no one has a scooby doo
Colin did mention 10p but I can't remember if that was share price or valuation
I want
Depends on what you regard as a reasonable offer bearing in mind the millions spent on it including drilling, and all paid for at our expense in share issues
I’ve been out of XTR for a while now so out of touch. What’s the thinking on BR? A sale for even a fairly nominal amount could represent a decent return here. (As opposed to yet more copper exploration, aka “Colin’s viagra”).
Moving in right direction Manica bought on credit had a few years ernings out of it
Sold for millions
And a lot of copper ready to get the investors income rising.
Or rather GM
Thanks for the AGM feedback to those that went to the trouble and kindly shared their thoughts
Prickly & CapB thanks
Don't worry, the drill will be turning in the best patch possible, we'll have a mega 'ole or two that will spike the SP and it'll be BR hysteria all over again.
Thanks for the write up. Much appreciated.
Wasn't one of the usuall suspects saying a few weeks back that the sp would shoot up once the sale was ratified at GM?
Wow that worked. Not
I also attended and sat next to Capn Bob. CB explained the sale was the best way we could obtain the cash necessary to explore the Zambian licences. He hinted it had not been easy extracting cash from our Majority partner despite our holding the licence. This sale would also remove any liability for future safety/compliance issues as the mine expands and provide a more secure source of cash than the current arrangement.
The funds should provide enough for a driliing operation to prove up the Zambian copper gold resources. There is chance of a Kiwara type hit. Manica could never be such a prospect. we have a top team of geologists and engineers on site to plan the drilling and this should be ready by April. It has been said here before but CB is hoping to go out with a bang and deliver up a great resource. There are plenty of eager players who are very keen to get a piece of Zambian copper action and with our licences sewn up for Xtr GLR and AFP CB thinks he has a very good hand to play
Yes thanks for the update.
Thanks for the update Bob.
Few attendees, 4 or 5 reassuring, hearing from Colin directly, added some context to the reasoning behind the 'sale' and what we have in Zambia.
Expecting a limited drilling campaign based on historical records, (target info mid April, ?) artisinal pits, once rainy season is done.
Plan will be to evidence resourse and sell on.
There seem 3 small mines that will come on line fairly quickly, not costly to set up.
I guess we will have RNS later to tell us the motion was carried.
Bush Ranger still very important asset, that it not forgotten, sort of thing majors want for inventory, regardless of wheter it will be developed or sit idle, seems there is an exit strategy from AA, that is not too expensive.
Surrounded by big players, but others not already with assets want in on the action.
Colin has ears of many, and team in place very competent.
Any news on the meeting ?
Nope
Anyone else takeing the time to attend GM this morning?
Https://portals.landfolio.com/zambia/
For all licences the Zambian cadastre is useful. Zoom in for more details.
Big day tomorrow. The start of a new beginning if shareholders vote with their head and not their heart ( or ars*). CB has made serious mistakes with BR, Manica I am not sure but back in his ( almost) native Zambia there is real hope for a recovery and shareholder value. Just hope we get regular newsflow and better PR than has been the case in recent times.
Thanks Andy,
Great Stuff.
Cygnus
My understanding is that ARCM licence is the AA one (on the map) to the right of AFP licence as you look at map. Its the left one of the three bottom centre licences
That's my understanding from listening to ARCM info but happy to be corrected.
http://www.rns-pdf.londonstockexchange.com/rns/3942C_1-2024-2-7.pdf
Andrew, I took a look on the ARCM website but could not work out where the licenses are relative to XTR, AFR & GAL prospects. Do you by any chance have a map that includes them all or a reference? Ta...
All this positivity .. spring must be in the air..
...bringing out some irrational exuberance.
The share price is the benchmark this game is played against.. and this one is utterly, unequivocally and extraordinarily abject .. AND.. still falling.
With a lovely winter/spring sunny afternoon smiling at me through a large sash window, I offer:
My stupidity for having a decent size bet in play - and way under water, of course - in xtr.l never ceases to amaze me :-)
But anything can happen in this game ...so here's hoping !!!