The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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No one can accuse Colin of not putting effort into promoting his companies or Copper and NW Zambia. But the copper price continues to go down, China is looking precarious and even Labour is abandoning the climate change obsession. I wonder whether Colin will regret selling Manica at this point. In a years time the price of gold might look very attractive.
As I was saying, here's another Roastie special on mining. https://audioboom.com/posts/8454846-midweek-takeaway-mining-indaba-2024-special-umr-maru-neo-afp-xtr-atn-glr-ura-k
Could well be the reason there have not been any operational updates on those other projects already Bob, including Chongwe it seems too???? That until there is resolution to the disposal of Manica it would have been unwise to fully allocate treasury funds to advance the other projects beyond just technical work.
Donna feel there is a lot of news to come it’s hotting up.
I really want to hear more about the small scale prospects, to see how when these will create cash flow, and at what cost.
Jdau,
On HL website you can register to attend the meeting and or vote the shares that you hold. Log in to your account using HL website. ‘View shareholder meetings’, from there you can give instruction, I imagine other brokers offer similar facility.
Let’s hope the next RNS is as you suggest Jezz as the last 2 RNS’s haven’t done anything.
Must the CB factor.
We should get at least one more RNS before the meeting.
A nice jolly one with loads of carrot on a Zambian stick I'd think.
Can anyone help me out...?
"To be entitled to attend and vote at the General Meeting (and for the purpose of the determination by the Company of the number of votes they may cast), shareholders must be registered in the Register of Members of the Company at close of trading on 9 February 2024. Changes to the Register of Members after the relevant deadline shall be disregarded in determining the rights of any person to attend and vote at the General Meeting."
How do I register on the 'Register of members of the company'?
Cyber
A good rule of thumb is that the average of a good deposit grade should be at least double the cut off grade across the whole resource.
So with current racecourse estimate of 512Mt @ 0.22% with a cut-off of 0.1% is clearly within that range.
Not to forget that the cut off only takes into account mining costs and not any CapEx outlay. So generally the ratios do compare with similar projects, also with currently operational high tonnage low grade mines. Take aitik in Sweden for instance.
It’s not about the grades, it’s about what they can initially show what can be economically exploited.
Very true NTM in the mining exploration world it does always seem to be “this time next year…”
No doubt the nw Zambia is a great place to be right now.
Was talking to a mining investment ceo couple of days ago who has done deals on big Australian porphyria with grades not much higher than Bushranger - when I described the grades and size of BR he said it would undoubtedly be of interest at 10k plus copper - was good to hear, albeit just one conversation
It's in the RNS Lucky, but it's long winded I'm afraid, lots of "Ifs and Buts" but some good bits too.
CB explains it on the roasties podcast last week.
Can anyone clarify what the 'up to 15 million' means? Its a bit wishy washy.
A plonker ... That is the question...
Mr Bird today wholeheartedly asks his shareholders to back his cushty new plans...
It's Kosher ....and you know it makes sense.. because this time next year.....
So I'm in.
Lovely jubbly !
Those smaller open pittable operations being targeted will potentially be the bread and butter that will cover ongoing operating costs and fund those larger exploration projects. Those smaller projects will not require large expenditure to get them into production which will be assigned a project manager to run so the take up is not too limited.
So the vibes I'm getting is that most feel approaching this move with a glass half and half empty positon (50/50).
Now is this a goal to far "prove the continuity of mineralisation at grades suggesting the potential for the future development of a Mineral Resource of not less than 500,000t of contained copper"
Is CB suggesting other assets are small fry.
"WHY sell the house silver to only go back to square one with the end game of producing"
Because manica was not a big enough discovery for CB's ego or kudos. He wants to go out with another Kiwara - even if it means taking more risk with shareholders money
This could be one of the best things CB has ever done, or another failed Copper exploration play like the previous 4 bets
CB is a gambler - but happy to use other peoples money to gamble !
The company has a clear strategy for growth to bring online small to medium open pittable operations to bring in revenues under equally joint ventured deals giving far better operational control and risk mitigation and that target copper projects that are central to that strategy. Taking a step back now in principle, paves the way with financially security to fully commit the treasury to progress better options for medium to the longer term.
There are no guarantees that a second phase will actually happen. Full economic feasibility will be required to warrant underground mining, it really isn’t as straightforward as open pit. A lot of the deposit becomes sterile and unmineable due to the need for large supporting pillars to be created. The economic risks are far too much to commit to buy into.
Howezap ...........................we only need funds for phase 2. Which I sure we could raise by the end of Phase 1 etc and still have the asset. There will be no need to tap shareholders. We have been given the figures needed. 3/6/12 months of Manica can pay for Phase 2.
The tell is revenues from September 2023 covers Phase 1.
WHY sell the house silver to only go back to square one with the end game of producing. Which we are doing now.
Billy, if we keep Manica, it is a high probability that a fund raise will be needed to just progress to the next feasibility study toward a plant extension or new plant. It has been made fairly clear that it is not an option to just carry on receiving 23% profit share as a minority partner.
Beautifully summarised. I think we have to give CB a lot of credit for securing a a position here and, with a +ve vote at the EGM, Xtract will be the only junior that is self-supporting financially and not beholding to the controlling attitudes that all the majors have in return for their funding. This could be very exciting if the geos get it right in selecting the drill targets
If we get this right, someone witll notice and BR will become history - well sort of !!
Has CB been moving his lips again?
Looks like CB needs a YES from me and others to sell Manica!
We have the cash for phase 1. Can’t see why CB can’t wait another 3 months and have the money for Phase 2 and we still keep Monica.
Well if CB can get the SP 500% in the next few days he can do what he wants.
Or it's a tried and tested means of diverting attention from failures (BR).
Zambia it is then.........!!!
Following the Kobld hype
https://beststocks.com/kobold-metals-remarkable-copper-discovery-in/
Not a bad thing I suppose... nothing else happening to trott the SP on