The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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The CEO of ZAMARE Minerals is a nearby Brit neighbour. He is highly experienced in Zambian geology.
In the interview he describes the exciting deposits in our Areas.
https://www.zamareminerals.com/n/n29/interview-with-roger-murphy-on-mining-network
The 2 year option period expires on 2nd October 2023. If they have not exercised the option or applied for an extension in the period, they have have no right to any licences.
The latest interim RNS clearly states.
7.2 Sandfire has notified the Company that it will not be exercising its option under the Sandfire Option Agreement.
Looking forward to more exciting results from Zambia.
“the Company is awaiting an expenditure report from Sandfire for the option period so it can review Sandfire's Exploration Commitment which was to fund US$1 million of exploration expenditure on the Included Licences (the "Exploration Commitment") within the Option Period with 60% of the Exploration Commitment to be on drilling and assay costs. If the Exploration Commitment is not spent, any shortfall is due to be paid by Sandfire to African Pioneer.”
Have to wait and see re Sandfire. They were required to spend $600k on drilling and it sounds like they may not have. If they didn’t, they have to pay it to AFP instead, which would be a cash windfall of $600k, plus we get their exploration data and the licences back. We’ll see
Interims RNS not shown on LSE today.
Big news Sandfire not proceeding with their option, which is disappointing.
Namibia copper project is progressing.
Zambia First Quantum exploration is the potential big project. Given its location, success could be beyond our wildest dreams of avarice.
Still early days , lots of results on drilling and investigations should be due soon.
Hi metalhead
Not had umpteen hours to research AFP.
Rough numbers and timescale will do
What price do you see copper assets in Zambia be sold to major? And when ? How many years
Very very rough low ball estimate will do
Thanks
Dani from X
Good to see directors buying more
Hi MHead
Just read your thread on Twitter. And sent a reply.
Most questions answered . No need to reply on here.
Thanks
Hi MetalHead
Scrolling down to suss out real investors here.
Currently hold a large position in XTR
Looking to invest % of BR DEAL or topslice once we break out of flat line consolidation.
If CB strategy of creating shareholder value is the same across all his companies then this is where I will invest.
So
If you don't mind me picking your notes on AFP
Please explain investment case
Relationship with FQM & SANDFIRE
Timeline to monetisation
Cost to AFP SHAREHOLDERS = are likely raises needed.
Thanks in advance
CruELLA
Big 22p trade here today lol
patient we must be I guess
Looks like practically everyone “forgot” it, might be a cynical play from the government to whip up a few quid
Looks a bit slack of us to forget that
Well the pace of AFP’s progress in Zambia depends on First Quantum, not Colin. And FQ are not slow. Speaking of them, we’re in the zone for a Zambia quarterly update in the next few weeks, I’d have thought
Unfortunately Colin makes it easy to become uninterested in his companies as they all move at a glacial pace.
Zero interest here atm. Hopefully a productive meeting this morning. We need news!!
Who is going to the AGM on Friday?
I'm quite interested in the new TR1 holder John Swann. He bought in a substantial stake at the raise and he's got a couple of other big holdings. Clearly he sees some significant upside, wonder if anyone knows anything else about him?
Technology Minerals Plc (TM1)
(Specialty Mining & Metals ) 102,875,000 6.80% 2,288,969 USD
Tern Plc (TERN)
(Investment Management & Fund Operators) 19,650,363 5.04% 1,061,709 USD
African Pioneer PLC (AFP)
(Specialty Mining & Metals ) 13,333,334 6.96% 364,400 USD
Looks like the MMs have shut this down completely. Who in their right mind is going to buy shares at 2.49p when the sell price is only 2.22p?. Stupid spread atm. We need some sellers to bring the bid down to a sensible level..
The MMs are hardly encouraging any trades here atm with a spread of 2.4920p to buy and 2.2222p to sell...
Jump in the ask & bid on very small trades this morning. Now 2.396p to buy and 2.22p to sell. Road to recovery in the SP after the Placing underway? This would be a good time for CB to release a positive update on the projects....
Good point PD! Lets hope recent progress across the projects is maintained...
Whilst true remember there are FQM and Sandfire backing and making great progress at AFP. The market cap should never be down here. Out of all his companies this is the most promising and I think is a serious multibagger.