Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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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 !!!
Agreed about the price of copper. But unlike BR the price of copper isn't particularly relevant. Ivanhoe is making massive profits at current prices.
I am the same with the 3 Birdie Companies and ARCM plus JLP. If I had sense, Ivanhoe would probably make more sense but never mind. Obviously now we have Kobold and others in the mix so at least plenty of news to come.
Price of Copper isn't playing ball though !
It was important to drill the bit in middle, the main reason being to establish if there was enough continuity of viable resource to join RC and Ascot up. It was these subsequent grades that was the main disappointment as it meant that Ascot was required to now be standalone as a separate entity for its resource to be exploited. As we have now seen will need a further extensive explotation programme to increase and establish a viable resource there now as it would not be viable to be reached through a series of push backs from RC. This down to the grades being just too low and outside of the stripping ratio tolerances that would allow it to be mined once the CapEx payback phase was completed.
"Due to CB's suite of companies in the Zambian NW corner I have spread my investment in XTR, AFR & Galileo"
I've done the same, and for the same rationale I've also added ARCM so my portfolio.
I take the view the more lottery tickets you buy then the more chance you have of winning :)
It look like CB takes the same view !
Due to CB's suite of companies in the Zambian NW corner I have spread my investment in XTR, AFR & Galileo. I figure that if the geological trend crosses the border, and the evidence sugests it does, then any one of these making a good find will inflate the value of the others. Could be that they are all sitting on a goldmine (coppermine) and the NW corner becomes the next big thing in terms of copper production.
As to Howezap's comment about the gold at Ascot, it never did sit well that the drilling seemed to focus on the bridge between Racecourse and Ascot (which did not produce good results) rather than on Ascot itself. If the effort had been focussed on finding the Ascot crown then we might be in a very diferent situation now.
Hz. Agreed. In normal situations discussing other companies on a bulletin board is unwanted. But in the case of the Birdie stable of companies they are using the same geologists etc so all have relevance to each other. And in the case of NW Zambia it is all the same geological region . As Colin likes to state, geology does not respect boundaries.
A point of interest.
A comment Martyn C made whilst speaking about another of the groups projects, may explain why those high gold grades from Ascot drilling of 14m at 1.96g/t Au and 2m @ 15.5g/t Au were not followed up.
MC….“Can’t lose focus on their goal by chasing narrow high grade veins as it would be far more difficult to put a resource together, with the main focus concentrating on the bulk tonnage.”
This would so easily be the case for the work that was required to build the BR resource. Makes good sense now and could explain why, as at the time it was so frustrating that it wasn’t investigated further with a hole or two at the end of phase 2, choosing instead to test mineralisation at depth below hole 35 If I recall.
Sorry bit random but I’m sure others may have had similar thoughts at that time. 🤷