The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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.
------------African Pioneer & First Quantum, NW Zambia RNS, Fri, 16 Feb 2024: ----------
First Quantum on 16.2.24 informed AFP that they will take up the other 2 licences from AFP, thus totalling 4 for NW Zambia. 1ST EARN IN PERIOD begins and ends on 28 Feb 2026 wherein First Quantum [FQ] has to prepare a TECHNICAL REPORT {MINERAL RESOURCES|:"INDICATED"] showing at least 300,000 tonnes of contained copper to EARN 51% in the project.
------------------AFP 80% Zambia subsidiary & FQ signed agreement on 22 Jan 2022-------------
Since the signing of the agreement on 22 Jan 2022, FQ has done a lot of work on the 4 licences in NW Zambia namely
"mapping, soil sampling, ground geophysics, ==AIR CORE DRILLING==DIAMOND DRILLING in --EXCESS of minimum qualifying expenditure of US$500,000 on EACH of the 4 licences." [Ref: AFP RNS, 16 Feb 2024]
-----------LAST AFP RNS, 23 OCT 2023: UPDATE ON FIRST QUANTUM WORK ON NW ZAMBIA AFP 2 LICENCES.-----
"Based on the SUCCESS of the programme todate, TOTAL EXPLORATION expenditure of over US$1.6 Million :
[1] Drilling commenced on TURACO, NEAR SURFACE mineralised target at fold /thrust domain.
[2] CHIPOPA, CHIBWIKA , also near surface to be drilled.
[3] Planned DEEPER drilling for KAMOA STYLE
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.
LoL. Mr Colin Bird, Executive Chairman has just RE-TWEETED [Sun, 18.2.24] the above by Jack Dann, Geo at POW talking about the AFP, 16.2.24 RNS re: First Quantum taking up the remaining 2 licences =4 at AFP, NW Zambia.
https://twitter.com/ColinBirdMining
LoL - COLIN BIRD, HAS JUST RE- TWEETED THE ABOVE TITLE [24 .10.22]: "Initial prognosis is better than Kalumbila" interview with Sunday Roast -------today, SUN, 18 Feb 2024.
Https://twtter.com/RoastPR/status/1584569916937498625 24.10.22 FIRST QUANTUM JV AFP.
--"Sunday Roast: The initial prognosis is better than Kalumbila was, words from Colin Bird, Executive Chairman, African Pioneer."
Interview with Colin Bird, Chairman, AFP [Kalumbila was the Kiwara mine].
Colin Bird: "First Quantum [FQ] - not there to play around, not tie up the land, acts quickly, history of mine development.
Conglomerate - IOCG. Kalumbila was sold to First Quantum - sale of that [by Colin]. Question: Confident, something similar, done it, doing it again, Colin?
Chances of doing it again , chances are very high. Delighted. Copper mineralisation, follow the science."
P.S.
I have now found out where the East potentially is. It is not because I dont know where East is but East from DRC or East from NW Zambia, the map does not denote which side. I have heard Mr Bird further on First Quantum's work so more nuanced now.
Cberiachas
WELCOME from Mr Bird's other co. If you look at the Mining Weekly article, COULD YOU FIND OUT where to the EAST IS of the said licence. That bit of data is not in the AFP RNS, so it must have come from First Quantum to Mr Bird. I am interested to know where the EAST is , given it will show WHERE, other than the CONGLOMERATE is [conglomerate is SITTING RIGHT on the Western Foreland trend from DRC's Kamoa & Kitoko [Ivanhoe].
ALSO, CAN ANYONE SEE THE SATELLITE -Paddy of GGP is not on to this stock so, cant ask him. It is PUBLIC data to see the SATELLITE PIC OF 4 LIICENCES AT NW ZAMBIA, JV AFP & FQM. =THE SATELLITE WILL SHOW THE ---COLLARS /HOLES AND HOW DEEP IT WAS DRILLED.==AT WAY, WE , ON THIS FORUM WILL SEE PUBLIC INFO BEFORE FQM report soon ?
Thanks. News, 18.2.24 FOR ALL ARTICLE: I PROVIDE THE FULL TITLE--put it into the search engine and it will come up. On Wikipedia and in academic papers, CITATIONS reference titles are given to CHECK. Sometimes, I copy it wrong due to being short sighted and wearing glasses.
CONFIRM: I just CLICKED on the link I gave DIRECT from Sunday Roast at https://twitter.com/RoastPR
and it TOOK ME TO THE TWEET. Then, at Twitter, CLICK , CLICK the box beneath that says "AUDIO BOOM" and it will CONNECT to the INTERVIEW @AUDIO, not an article.
Puzzled how it wont work?
Can you possibly post links that work ?
Thanks for the input NEWS , the links didn't work for me but a google of mining weekly first quantum african pioneer does bring up the article - will have a look at the twitter link you shared
Link: https://twitter.com/RoastPR/status/1759184327789690891 Sunday Roast, Sun, 18.2.24 @11.53am.
featuring Jack Dann , Geologist at POW discussing their co, AFRICAN PIONEER..
What I could make out from Jack Dann:: Discussing African Pioneer's RNS on Fri, 16 Feb 2023 re::
"First Quantum: Their geological studies - they think its a CONTINUATION from the DRC. Interview: FQ must do the technical study of 300k of copper ON EACH OF THE 4 LICENCES. Answer from Jack: 15k tonnes per year, 20 year mine life at $8,500 p/t [think he also said or $8k/ pt], THAT'S A LOT. First Quantum will have to SPENT MILLIONS, Reality First Quantum has not yet said they have found it yet -HAVENT SAID IT YET -COSTS MILLIONS TO TAKE IT TO THIS LEVEL."
"Potential to be TENS,HUNDREDS OF MILLIONS A YEAR. FIRST QUAMTUM WILL HAVE 51% ---------AFRICAN PIONEER WILL =====STILL HAVE 49%=====. Come on , guys, DO THE MATHS. African Pioneer MKT Cap £4m. PICK OF 2024." ---JACK DANN, GEOLOGIST AT POW DISCUSSING THEIR OWN CO AND AFRICAN PIONEER [Jack is not a Geo at AFP but Sunday Roast wanted to ask Jack, Geo about the AFP RNS of Fri, 16.2.24 re: First Quantum exercised the other 2 licences at AFP/s NW Zambia.
Comment:
So, a external Geo 's view of AFP's RNS of 16.2.24. Many were NOT aware that the requirement in the JV agreement was NOT for 300k for the whole 4 licences but for EACH OF THE 4 LICENCES per Jack and the calculation of how much revenue it could bring in annually. Also, JACK STATED THAT AFP WILL OWN 49% OF THE PROJECT vs 51% FIRST QUANTUM --------upon producing the above technical report showing 300k per annum for EACH of the 4 licences under JV with AFP. But as Jack said, it will COST FIRST QUANTUM MILLIONS TO COME TO THE STAGE OF PRODUCING THE TECHNICAL REPORT REQUIRED under the JV AFP agreement to EARN 51% -------AND AFP ===WILL THEN STILL OWN 49%.
LoL, so does it not mean that AFP can sell if they wish at this stage of the technical report? Folks will have to READ the ORIGINAL AFP RNS which I quoted yesterday relating to sale by AFP ---->first right of refusal to First Quantum. Do check to make sure or ring or tweet to Mr Colin Bird who is on Twitter. Good to hear an external Geo's view after my posts yesterday ------ALWAYS GOOD TO HAVE AN EXTERNAL GEO REVIEW OF WHAT THE AFP RNS OF 16.2.24 IS ABOUT RE: FIRST QUANTUM TAKING THE OTHER 2 LICENCES AS WELL = TOTAL 4 LICENCES.
Dyor.NIA. Sunl 18.2.24 Do listen and check as there can be errors in listening.
Https://www.miningweekly.com/article-first-quantum-exercises-option-over-two-licences-in-zambia-2024-02-16
Mining Weekly, 16.2.24 [First Quantum JV with AFRICAN PIONEER plc]
"WORK completed by FQM during the initial period of the agreement includes MAPPING , SOIL SAMPLING, GROUND GEOPHYSICS, ----AIR CORE DRILLING & DIAMOND DRILLING --in excess of $500,000 on EACH of the 4 exercised licences.
The INITIAL period of the OPTION period has been EXTREMELY SUCCESSFUL FOR FQM & AFRICAN PIONEEER == WITH THE WESTERN FORELAND & K A M O A mineralising environment ======BEING ESTABLISHED===AS WELL ==AS NEAR SURFACE mineralisation in the fold-and thrust domain TO THE EAST OF OUR LICENCES. ...technical wisdom, says COLIN BIRD, EXECUTIVE CHAIR PERON." 16.2.24
Comment: No one is posting any article or research eg presentation and interviews by Colin Bird on AFP, so I am posting. That is about all. Sun, 18.2.24 [Mkt Cap of AFP £5.02 MILLION @2.4p, Fri, 16.2.24]
Https://bnnbreaking.com/finance-nav/african-pioneer-plcs-zambian-licences-a-promising-future-with-first-quantum-ltd
by BNN, 16 Feb 2024.
"..focal point since its inception in Jan 2022. The SPOTLIGHT on Feb 16,2024 turned to the ANNOUNCEMENT that FIRST QUANTUM exercised its OPTION OVER ALL 4 LICENCES-----A MOVE THAT SPEAKS VOLUMES ABOUT THE PROMISING RESULTS from the MINERAL EXPLORATION efforts UNDERTAKEN.
A LANDMARK AGREEMENT UNFOLDS: The SIGNIFICANCE of this AGREEMENT extends BEYOND the immediate financial implications, serving as a TESTAMENT to the RICH mineral potential that ZAMBIA, by extension, Africa offers to the GLOBAL mining community. The INITIAL EARN-IN PERIOD has been extended to 28 Feb 2026, reflects a shared commitment to thorough exploration and long term vision of both entities involved. While the news of the First Quantum exercise of its option....RESULTANT 16% increase IN AFRICAN PIONEER SHARE PRICE, tho significant, DOES NOT ENCAPSULATE the --------POTENTIAL LONG TERM ----V A L U E ---that this agreement represents."
"A FUTURE FORGED IN COPPER: This venture not only highlights the potential for LUCRATIVE RETURNS on investment...economic & development...----THIS DEVELOPMENT NOT ONLY ... as both co's forge ahead...the extended earn in period provides a window of opportunity TO FURTHER EXPLORE--& POTENTIALLY U N L O C K the ==VAST MINERAL RESOURCES ===THAT LIE BENEATH THE SURFACE...demonstrating the ALLURE OF AFRICA'S natural resources on ---GLOBAL STAGE."
Comment: Breath-taking ---the beauty of the 2nd engagement of Colin Bird with First Quantum Minerals described as a "POWERHOUSE" in the above article. Say, whatever, one likes, NEVER EASY to get a JV with a major in copper. Look forward to more news when First Quantum reports or when African Pioneer issues an UPDATE on the JV as norm?
Many players but those that can attract a MAJOR is one in which the potential is much greater as most of the MAJORS are only INTERESTED in POTENTIAL TEIR 1 projects [>1bn tonnes]. BHP, the premier is generally interested in not only Tier 1 but DISTRICT SCALE potential. DYOR, NIA. This is all commonly known. Sun, 18 Feb 2024.
Caveat:
I am stating what is in the AFP RNS/ AFP Presentations etc. I dont do lunch with Chairman of First Quantum so I cant say, they are this or that. Only, history says, Mr Bird's Kiwara has turned out to be First Quantums' Sentinel & Enterprise mine in Zambia, 80-100km from the AFP 4 licences. So, not a "gamble" for First Quantum at Kiwara , even tho they paid Bird $260m USD.
AFP UPDATE SHORTLY:
Hopefully, First Quantum will report shortly their results and some say we will get to hear more about FQM/AFP JV but I cannot be sure until the AFP RNS hits, as and when or if.
So, cant blame anyone especially, AFP has a £5m MKT CAP with the 16 FEB 2024 FMQ [OR FQ] OPTION IN FOR THE OTHER 2 LICENCES BRINGING A TOTAL OF 4 LICENCES. THERE ARE A FEW CHASERS AT NW ZAMBIA FROM THE BIRD STABLE IE GLR AND XTR plus others eg Anglo etc. So, research and done remember dont invest in any stock as stocks can go up and down. One can see the TAI drill of helium with the string breaking and the sp plunged but the Itumbula drill has had helium - that is the nature of exploration. At Bushrangers, the grade fell just a bit short of the target but there again that is NATURE'S GEOLOGY. Cant tell UNTIL the DRILL HITS. DYOR. NIA. Sat, 17 Feb 2024.
CANT TELL WHO IS GOING TO HIT THE JACKPOT per Mr Bird who reckons "1 out of the 5 could hit the jackpot." Yes, KOBOLD hit BIG at NW Zambia and more than 1 can hit next , NONE etc --that is the ...of the DRAW of the geology. I am not the expert on Zambia geology as I am NOT a Geologist specialising in Zambia. Mr Bird has more FORM in Zambia with Kiwara. That is his legendary status in Zambia but will he hit again? Cant tell , can I? Have to depend on FMQ just like any other junior explorer that has a JV with a major - the major does the drill etc and they report and the junior is hopefully told and the junior RNS it. Sorry for the long post. Long day and just typing without editing. Yes the software is playing up and someone else also confirmed it --they use caps and it changes to small letters.?? 17.2.24. [AFP £5.02m mit cap @2.40p post AFP RNS, 16.2.24 of FMQ taking the remaining 2 licences and 1st period starts? PLS CHECK & DYOR.
Contd: Part 2
From the AFP RNS, 23 OCT 2023.
"diagnostic features INDICATIVES of SIMILAR STRATIGRAPHY of mineralisation processes to those involved in the ===========FORMATION OF THE KAMOA-KAKULA DEPOSIT.===FQ HAVE DELIVERED NOTICE TO EXERCISE THEIR OPTION OVER LICENCES 2 7 7 6 7 & 2 7 7 7 1." -----
[Note: KAMOA-KAKULA is one of the large /est copper finds in the DRC of Robert Friedland fame of Ivanhoe. Ivanhoe or Robert went on to discovery KITOKO also on the =======WESTERN FORELANDS TREND IN THE DRC.===
However, now with KOBOLD'S BIGGEST COPPER DISCOVERIES IN NW ZAMBIA ie ON THE CONTINUING WESTERN FORELANDS TREND from DRC into NW ZAMBIA, all the 3 co's of Bird, Anglo [JV ], Ivanhoe and Rio are now chasing NW ZAMBIA along the WESTERN FORELAND TREND INTO ZAMBIA from DRC.
KOBOLD OF BEZOS AND GATES FAME HAVE STRUCK BIG HITS IN COPPER IN NW ZAMBIA, WESTERN FORELANDS TREND so, now even the Indians want in.
AFP RNS, 16 Feb 2024 [Fri], FIRST QUANTUM [FQ OR FQM] WANTS THE OTHER 2 LICENCES FROM AFP which now totals the FULL 4 LICENCES from AFP. GAMBLE: FQ has done work on the 4 licences ie AIR CORE DRILLING AND DIAMOND DRILLING and DECISION TO TAKE ALL 4 LICENCES OF AFP AT NW ZAMBIA.
AFRICAN PIONEER MAR 2023 PRESENTATION:
https://africanpioneerplc.com/presentations/reports/
Pg 5/22: PHASE 1 DRILLING COMPLETE , LARGE ANOMALIES delineated, Phase 2 drilling approved. Significant on or near surface potential covering MORE THAN 30KM STRIKE." "Pg 7/8-see details ======+++TARGETING NEAR SURFACE >1BN TONNES @ >0.5% CU [+CO]." AFP PRESENTATION, MAR 2023.
=========AFP MKT CAP £5.02M @2.24p , Fri, 16 Feb 2024=============
No X or Y, FACTS and MKT CAP £5.02M. Please check and DYOR. NIA.
Just typing out everything so that on this weekend , everything is typed out in its skeleton form about FQ & AFP JV.
Mr Bird has £700k riding on AFP shares per Mkt Screener , valued at Jan 2024.
I have been here for some time but did not post until I have all the facts on hand. Been searching everywhere as usual.
News, Sat, 17 Feb 2024.
I listened to Mr Bird last night again [some for 2nd time to check] and this is what he said about:
"FIRST QUANTUM, JV PARTNER TO AFRICAN PIONEER.: Mr Bird- "they are NOT GAMBLERS."!!! [please check the interviews on Sunday Roast, Midweek Roast on Twitter under Colin Bird Mining.]
What did he mean? In real life, not gamblers has 1 meaning and in mining , it has another meaning but both converge.
In a much earlier interview, I remember Mr Bird saying that in SELLING KIWARA TO FIRST QUANTUM FOR $260M USD, folks woke up one morning and the RNS said FQ offered a takeover for US$260m. So, from the way he said this, it means that no one had any inkling this was going to happen. SHOCK: SELL KIWARA TO FQ AT "current & indicated Resource 867Mt @ 0. 4 4 % cu [copper].!!! This is 21 Dec 2009 -----in those old days, I think 0.44% CU COPPER MAY NOT BE THE BE THE MOST IDEAL THEN. Yet, FQ bought it for US$260m. 867Mt is large as it is almost a Tier 1 size ie 1bn. From the article in my post below today, I now understand why the ACRM sung Mr Bird's praises as he said Kiwara ALSO gave FQ the NICKEL PROJECT as well. NOW, FQ HAVE DEVELOPED KIWARA INTO THE WORLD'S 14 LARGEST COPPER MINE AND the nickel project is also sizeable close by and called ENTERPRISE. Mr Bird also said he did not DRILL KIWARA out but leave enough on the table for the MAJOR. Mr is said to have spent $20m on drilling at Kiwara. HISTORY NOW PROVES THAT FQ INDEED DID NOT "GAMBLE" but were very good at starting the mine, now No 14/world. GAMBLING can also taken to mean WILD CATTING by folks with some money - DRILL and nothing =0$$$.
---------FIRST QUANTUM & AFRICAN PIONEER --2ND TIME OF ENGAGEMENT VIA JV AT NW ZAMBIA.-----
AFP's RNS of 6 June 2023 informs that the 4 LICENCES are 80-100km from SENTINEL, "one of the largest copper mines in Africa." From 20.1.22 to date, FQ has been doing geo work eg soil samples, geophysics and AIR CORE DRILLING AND DIAMOND DRILLING with COLIN BIRD STATING: " THE DISCOVERIES MADE during the LAST QTR & the RESULTANT REPORT are GROUND MAKING for our partners & AFP s/hs.
THE APPARENT CONFIRMATION OF THE WESTERN FORELAND & the presence of VECTORS possibly consistent with KAMOA-KAKULA style mineralisation is an EXCITING DISCOVERY & paves the way for the delineation of the type of copper resource that COULD BE TRANSFORMATIONAL...extensive SURFACE MINERALISATION ...8 PRIMARY TARGETS...STRIKE LENGTH 30KM together with DISCOVERY OF HIGH GRADE COBALT min merely amplifies the OVERALL POTENTIAL OF THIS JV AGREEMENT. We look forward to NEXT REPORTING ROUND to provide s/hs with FURTHER UPDATES based on the DRILLING & geophysics by FQM." ---CHAIRMAN, BIRD'S COMMENT IN AFP RNS, 6 JUNE 2023.
Further AFP RNS of 23 Oct 2023 : "----CONFIRM FQ has IDENTIFIED the KEY STRUCTURAL architecture determining the BOUNDARY OF WESTERN FORELAND & CENTRAL FOLD & TRUST TERRAIN IN AFP LICENCES. ===DEEP DRILLING ON AFP LICENCES has SUCCESSFULLY identified diag
Contd : Part 2
[3] Whether FQ can now WALK AWAY, post AFP RNS [FQ taken ALL 4 LICENCES & 1ST EARN IN KICKS IN] Fri, 16 Feb 2024, up to each one to decide their legal expert opinion. My observation is: THE MARKET MARKED AFP SHARES +16% a/c to one article from Market Screener via Alliance News. Read the AFP 16.2.24 RNS to check if FQ have now entered the 1st earn period, whether they can walk away?
[4] AFP can SELL --------> Mr Bird has the same type of agreement with Anglo at Bushrangers---->there, he also said he can sell.
[5] 4 years ---No RNS has stated that for FQ/AFP per poster? It states 28 Feb 2026.
[6] WHY DID FQ TAKE ALL 4 LICENCES AND ENTER NOTICES? From all the data I read from AFP via their 2023 presentation, there are FIRST QUANTUM RESULTS.
[7] I looked at the map for AFP AND WHERE THE 1ST 2 OPTION LICENCES WERE which was important. ONE OF THE FIRST 2, WAS SITTING ON THE WESTERN FORELANDS CONGLOMORATE ITSELF. The other was SOUTH of this conglomorate.
Now, the remaining 2 licences are OFF THE CONGLOMORATE. THE WESTERN FORELANDS CONGLOMORATE --->>>INTO NEW ZAMBIA------>>>FROM DRC KAMOA-KAKULA & KITKOTO WESTERN FORELANDS is the HOT PROPERTY.
A/c to ARCM's CEO [JV with Anglo and planning to start drilling anyday now at NW ZAMBIA] he said the HOTTEST PROPERTY IS THE DOME. The only other co ARCM mentioned was Colin Bird's AFP [Ref: "DOMES REGION OF ZAMBIA, A COPPER EXPLORATION HOTSPOT"-Mining Review Africa, 23.4.23 Von Schirding said only two other active explorers ie Zamare Min & AFRICAN PIONEER. Mr Schirding of ARCM in the article SINGS THE PRAISES OF MR BIRD AND HIS KIWARA SOLD TO FQ etc. [public info ie sold for US$260m ]. Article goes on with: "INTEREST FROM BIG PLAYERS." Have a read.
XTR & GLR
Look at the map and see all Bird's 2 other co's and where they sit ie licences and where AFP sits.
KICK-OFF TIME:
FQ will hopefully report on their work at AFP ground when they next report as norm?
AFP 2023 PRESENTATION GIVES ALL THE DRILLING RESULTS PRIOR TO FIRST QUANTUM TAKING THE REMAINING 2 LICENCES FROM AFP = all 4 taken. AFP has 1 more licence NOT licenced to FQ under the agreement. DYOR, NIA.
Sat, 17 Feb 2024.
FOR AVOIDANCE OF DOUBT: I dont venture to speak on other co's from the Bird stable ie XTR or GLR at NW Zambia but suffice to say, Bird said, "1 will hit the JACKPOT". Who? That is to be seen by drilling results -Anglo about to kick off and they are a bit further from the conglomorate from what I can see but ask Mr Bird as I am not the expert on geo maps etc. I can only see the map that Bird showed. I FELT THE POINTS MADE WERE VALID AND MUST BE ANSWERED & RESEARCHED FURTHER FOR MYSELF ---each to do their own reading of the AFP 2 RNS'S on the JV with FQ and their interpretation of LEGALS. AFP MKT CAP; £ 5 . 0 2 MILLION @ 2.24P.
-----------COLIN BIRD:CHAIRMAN: HIS CO'S --XTR ---GLR ---AND AFRICAN PIONEER, ALL AT NW ZAMBIA--THE WEST FORELANDS CHASING PACK --ADD IN RIO, ANGLO, IVANHOE, FIRST QUANTUM etc [MAJORS]:-----
Mr Bird in an interview: "5 are CHASING THE WEST FORELANDS, 1 HAS TO HIT THE JACKPOT. Is that possible? That is something known - Zambia is copper rich per the Head of State etc & proven by all the majors with Sentinel, Enterprise mines etc. Who are the 5? Mr Bird has 3 CHASERS in AFP, GLR and XTR vs Anglo [JV], Ivanhoe , Rio ---vs KOBOLD [Bezos, Gates etc private co that has ALREADY HAD A BIG COPPER DISCOVERY in NW Zambia, hence the chase?
GLR FORUM:
One poster said: "My issues with the AFP side is: If FQ WALK away they will receive NOTHING upfront. 2ndly if the DECISION TO MINE happens, FQ owns 75% of the mine and finally AFP have tied themselves to FQ and FQ CAN BUY THEM OUT IF & when they chose. AFP will NOT see any money for at least 4 yrs." " Both GLR & XTR can prove up their licences & if there is anything worthwhile they can get a better deal and NOT BE RESTRICTED TO FQ." [Posted Sat, 17.2.24]
AFRICAN PIONEER:
Above are valid points and for that reason, I CHECKED THE ORIGINAL AFRICAN PIONEER [AFP] RNS OF THE OPTION DEAL WITH FIRST QUANTUM [FQ] DATED 20 Jan 2022 entitled: "ZAMBIA PROJECTS OPTION AGREEMENT."
[1] "From the table of timelines/agreement: 2 YEARS TO PREPARE A TECHNICAL REPORT ; 1ST EARN IN & 51%.
[2] "2ND EARN-IN : Complete met, development studies, public announcement DECISION TO MINE, earn in 75%.
[3] "FQ at 75%, parties have to FUND PRO-RATA, or diluted to 10% , then it converts to 1% royalty, 0.2% to minority s/h and 0.8% to co."
[4] First Earn In= JV."
----------[5] " S A L E RESTRICTION: CO NEEDS FIRST QUANTUM APPROVAL TO SELL & must give First Quantum FIRST RIGHT OF REFUSAL & FQ CANNOT SELL WITHOUT CONSENT OF CO."
["If FQ wants to sell their AFP shares to a 3rd party, then minority s/h can require 3rd party to buy their shares on same terms."
FACT:
[1] All the above are verbatim from the ORIGINAL AGREEMENT RNS, 20.1.23 from AFP. Yes, FQ can walk away BUT AFP RNS , FRI 16, FEB 2024 , FQ HAVE DELIVERED A NOTICE to exercise OPTIONS ON 2 OF THE OTHER LICENCES =4 in total.
"THE PARTIES AGREED 1ST EARN IN PERIOD: TECHNICAL REPORT, Indicated at least 300,000 tonnes of copper for FQ to earn 51% of agreement has been EXTENDED TO 28 FEB 2026 [1st earn in period]."
[2] "Colin Bird, AFP RNS, 16 .2.24: 2 7 7 6 7 ---&--- 2 7 7 7 1 already exercised on 23.10.23. Now , 2 7 7 7 0 & 2 7 7 6 8 also EXERCISED by FQ " [All 4 licences taken].
[3] "WORK COMPLETED DURING INTIAL PERIOD OF OPTION: SOIL SAMPLING, GROUND GEOPHYSICS-------.>>AIR CORE DRILLING--->>>>DIAMOND DRILLING in excess of the minimum $500,000 exp. on each of the 4 licences."
QUESTION:
To me, it is 2 YEARS to 28 Feb 2026 for a Technical Report by FQ as above. 2ndly, AFP ------>>>CAN SELL--->>>SEE ABOVE ORIGINAL AGREEMENT OF 20.1.
@metalhead yes I'd thought after Jan 17th came and went they had no interest. Nice they have...onwards to more concrete news on the stuff in the ground...
Anyone has an idea why whatever I type correctly turns out differently. Is it my software or this site?
I typed BIG COPPER HIT and it came out bit copper hit? I typed correction, it came out correct? Puzzled. Any help how to correct this? Thanks. The link was wrong as it missed the Sunday Roast not Roas?
The link to the interview as above:
https://twitter.com/RoasPR/status/174213310134485470 dated 2 Jan 2024 [re-tweeted by Colin Bird, Chairman of AFP]
I listened to this interview again and make the correct of NOT 5bn but 3- 5Mt with potential of 10mt contained copper with grades of approx 1.5-2% over a tonnage of 1/2 to 1-2bn [rocks]. There is another interview but that one only mentioned AFP in part. The consultant said that Zambia [NW] is a man made border from DRC.
MAP OF NEW ZAMIA - JOINT VENTURE OF AFP & FIRST QUANTUM.
It sits on the trend of the WESTERN FORELAND coming from the DRC ie Kamoa-Kakula [Robert Friedland of Ivanhoe fame] and recently the bit copper discovery at Kitkoto, also WESTERN FORELANDS, DRC [close to Kamoa-Kakula..
Link to map: https://twitter.com/ColinBirdMining/status/1754785831649161422 dated 6 Feb 2024 [2 maps]
Comment:
The interview was mainly by the consultants who own the licences and cut the deal with AFP - what they explained was the geology of the licence and the model as norm from historical data etc.
DYOR. NIA.
Two consultants were present in the interview from Zambia [legal etc]
Option Agreement between FIRST QUANTUM & AFP was dated 27.1.24 [AFP RNS]. Today, Fri, 16 Feb 2024 , First Quantum {FQ] exercised the remaining 2 other licences to total 4 licences [the total licences].
COLIN BIRD & FIRST QUANTUM
Mr Bird sold Kiwara plc to FQ for US$260m in 2009. First Quantum then developed Kiwara into the SENTINEL copper mine, also in the NW Zambia. SENTINEL IS THE WORLD'S 14 LARGEST COPPER MINE @891MT @0.45% CU copper.
Nearby , is the Enterprise nickel mine 377mt @1.03% nickel. The Central African copper belt in NW Zambia is the largest and most prolific sediment hosted copper IN THE WORLD & LOCATED less than 100km from the Sentinel mine.
Comment:
The above is from the AFP RNS, 27.1.24. In other data, it was stated Mr Bird spent $20m drilling Kiwara's NW Zambia project and sold to FQ as above. Mr Bird per Market Screener owns 10.7% of AFP valued in early Jan 2024 at £700k+.
So. 2nd time for FQ and Mr Bird to cut a deal, this time in a JV [Lemon consultancy].
DYOR. NIA. Fri, 16 Feb 2024.
5 co's are in the NW Zambia: [1] First Quantum as below @NW Zambia. [2] Anglo American is about to plan the drilling at NW Zambia also but not on the main trend [?] [3] Ivanhoe on the Angola side to another Bird co @NW Zambia. [4] Bird's other co nearer to Kobold, NW Zambia [of Bezos & Gates fame via a private co with a big copper hit]. [5] another Bird co just under the point [4] above.
Only First Quantum with AFP has advanced to drilling per the AFP RNS today, Fri, 16 Feb 2024 [taking up the further 2 options =4 in total].
Potential tonnage: 5bn with grades hopefully similar per the Sunday Roast interview with Mr Bird, Chairman of AFP and 2 other consultants inc Lemon consultancy that held this licence. This was the Christmas Sunday Roast of 2023.
Fri, 16 Feb 2024. Currently: AFP 2p /2.4p [spread] +14.5% @10.54am.
African Pioneer, Fri, 16 Feb 2024: Exercise of Option & Ext of Exercise Period" by FIRST QUANTUM - have now exercised their option over the remaining TWO licences so that they have exercised ALL 4 options.
"First Quantum has stated it has defined the key structural architecture that determines the BOUNDARY between WESTERN FORELAND & the central f o l d & t h r u s t terrain in the area of the AFP licences under the option agreement.
WORK COMPLETED by FQuantum during the initial period of the option inc mapping, soil sampling, ground geophysics,
A I R CORE D R I L L I N G & DIAMOND D R I L L I N G in excess of the min qualifying expenditure of US$500,000 on EACH of the 4 exercised licences."
First Quantum has a MKT CAP OF C$8bn @$11.92. African Pioneer has a MKT CAP OF £4.99m @2.19p +9/.5%.
[This is a WESTERN FORELAND PROJECT, of the Kamoa-Kakula trend?.]
-----------Congratulations to Mr Bird.--------------------Fri, 16 Feb 2024. -----Been here but did not post.
Strange its not showing up on LSE