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S06_13 Midweek Takeaway with Colin Bird, Executive Chairman, African Pioneer.
3 months ago, Sun 18 Feb 2024.
Link: https://www.youtube.com/watch?v=KnCoMWlrZy0 "OPTION AGREEMENT WITH FIRST QUANTUM."
Colin Bird, Chairman, AFP: "Much BIGGER than Kalumbila. First Quantum , not a secret society - 3 days with First Quantum. They share ie First Quantum. District 35km. MINERALISATION TYPE: [1] KAMOA style [2] KOLEWEZI . "
[Kalumbila is via Colin Bird's deposit in NW Zambia sold to First Quantum for US$260m.]
Comment: In later interview, the other mineralisation type AS POSTED BELOW is NW ZAMBIA JV WITH FIRST QUANTUM & AFP is : "WEST --------SURFACE COPPER & HIGH GRADE COBALT."
Please check.
I listened to the audio interview from Mr Bird dated 3 mths ago as I had just rushed thru it given it was late at night.
Why did Mr Bird say that FIRST QUANTUM-AFP JV , NW Zambia [4 licences] is bigger than Kalumbila?
AGREEMENT TO JV SIGNED 22 JAN 2022.
So, by the time of the above interview, Mr Bird was told more by FQ. He said its not a secret society and FQ are telling them the progress [invited to FQ]. So, since this interview with Mr Bird was 3 MONTHS AGO & hard to find, it is at a PIVOTAL time ie 22 Jan 2022 - 3 mths ago.
REASON WHY AFP-FIRST QUANTUM NW ZAMBIA IS "MUCH BIGGER THAN KALUMBILA."?
-A/c to Mr Bird:
[1] Potential STRIKE length. Think I heard Mr Bird say: 30-40KM [pls check]. Per the only Presentation from AFP Mar 2023: it stated: "Combined STRIKE TARGET >4 5 K M with peak xRf 316-1,046ppm in Cu copper in soil."
[2] Mr Bird also said TWO STYLES of potential mineralisation: K A M O A style & KOLEWEZI style [latter more surface].
|Let's check the said presentation : "p8/22: Shallow percussion drilling intersected peak of UP TO 3% CU.
NEAR SURFACE DRILL intercepts of 0. 5 % - 0.75% cu --===OVER 50M--===.
[a] 7 NEAR OR SURFACE cu in soil ---ANOTHER LARGE ANOMALY...
[3] AUDIO MAGNETITE SURVEY: detects conceptual style K A M O A - K A K U L A type mineralisation ===TRIGGERING
s t r a t a g r a p h i c DRILLING > 6 0 0 METRE DEPTH."
[]4{} TARGETING N E A R SURFACE > 1 BN TONNES@ > 0.5% cu copper.
Link: https://africanpioneerplc.com/wp-content/uploads/AFP-Presentation-March2023_v1.pdf
Comment:
Yes, it does appear the data supports what Mr Bird says broadly [given 2 years of drilling etc by FQ] CULMINATING on Fri, 16 Feb 2024 that they will take the other 2 licences to total 4 [2 earlier taken]. It is also important to NOTE WHICH EARLIER 2 LICENCES they took. It is commonly known that a potential target of 1BN tonnes is Tier 1 but grade will also be of interest. []1[] Potential STRIKE length [be it starting from 30km ] also is commonly known as DISTRICT scale. []2[] GRADES : appears that it is realistic set potentially from a lower pt. []3[] So, yes, surface is the CHERRIES per Mr Bird in 1 interview for FQ relating to CAKE. Mr Bird said CREAM is KAMOA style.
So, barring unforeseen circumstances , common to ALL mining projects, Mr Bird's fair comment is upheld by the data thus far. FQ on 16.2.24 has now SIGNED to take on AFP's all 4 licences, NW Zambia and PREPARE AN INDICATED RESOURCE MINERAL STATEMENT ON 28.2.26 --EARNING 51% AT THAT STAGE VS 49% AFP. AFP does not own 100% of the project but only 80% and 20% to Lemon Consultancy. Mr Bird sold Kalumbila [Kiwara plc] to First Quantum many years ago for US4260m ---Kalumbila is 80-100km from the current project. A/c to the said presentation, the near neighbours to AFP/FQ are FQ, Rio & Anglo. Anglo is about to start drilling shortly.
NO ONE HAS BOUGHT INTO AFP - 3 trades today that are so tiny, it doesn
Correction: Should read : sold Kalumbila for US$260m. No one is here on this forum and evidenced by no buys except 3 small tiny ones . Mr Bird's buyers are at ANOTHER co [Mr Bird has 3 chasers at NW Zambia]. UNDER THE JV AGREEMENT WITH FIRST QUANTUM, AFP CAN SELL THE PROJECT, but must give FQ, 1st right of refusal. DYOR. NIA.
AFP MKT CAP :£5M @2.4p [or £4m+]. Tues, 20 Feb 2024.
SALE OF AFP-FQ JV:
Sunday Roast asked Mr Bird , ----common question asked in all co interviews be it Sunday Roast etc re: Sale of project.
Mr Bird said in the interview [click reply of this post and the original post with link to the interview is given] , 3 mths ago BEFORE the AFP 16 Feb 2024 FQ OPTION PERIOD STARTS to prepare Indicated Resource Statement, he said, "ITS DISRESPECTFUL TO FQ to take about sale [think Mr Bird meant at this time or openly talk about sale ]? Then, Mr Bird went on to a comment that I did not take in. However, Mr Bird NEVER DENIED, a sale is not on his potential agenda as norm.
COLIN BIRD'S STAKE IN AFP
Mr Bird's latest AFP RNS states he has upped his stake to own now 10.87% of AFP [please check]. In many co's where the CEO's & Chairman's are NOT the founders of the co , then stakes are of less importance in my view only. So, how much Mr Bird owns of this co is relevant to me vs other others in the Bird stable. I have checked MARKET SCREENER and 10.87% if the largest stake vs other co's.
OPTIONS
That is also a good insight as norm. YES, TICK, MR BIRD HAS REASONABLE OPTIONS.
SALE
Yes, Mr Bird, from the above, IF you pull a sale, then no doubt you will be able to afford your sea side holiday per another Sunday Roast at Christmas 2023 Sunday Roast podcast with 2 of Lemon Consultancy principals. Yes, they took will want a sale and so do I.
I leave it with Mr Bird as his interest is certainly aligned with such a stake of 10.87%. With thanks. News. 20.2.24
Mkt Cap :£4-5m @2.4p.