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Very significant this. Why would FQM do this unless they have intercepted significant grades and widths of copper-bearing core ? This could be the catalyst for something special.
Excellent news……..“We are very pleased to be advised by First Quantum that they have exercised their Option over the remaining two licences so that they have now exercised their option over all four licences”
Great news that FQ have exercised on the remaining two licences. With it being nearly a month after the nominal deadline, I had rather come to the conclusion that they were not exercising. So a very nice surprise today.
Now looking forward to the next exploration update which can’t be far away.
Or should I say most right thinking people aren't daft enough.
Don't worry, most people don't want to invest in Bird companies anyway.
Just look at the state of them all.
Who's going to invest here with a spread of 29%?
Are the MMs trying to kill their trade?
Agree patience is absolutely needed for AFP and other CB projects.
Large licences in very prospective areas need significant investigations. There is little or no previous history.
In the last RNS update (23/10/2023)FQM asked for another 6 months to further investigate two outstanding licences.
We are also hampered by the Rainy season Nov to Feb when things slow down.
Hoping for some progress reports soon.
FQM report quarterly, after that time AFP, often seem to get update reports. The next FQM report is 20 February 2024
Maybe but they don’t need cash to build or operate the mine and that’s a very important point. I’m sure a number of partners are interested in making money on this so there will be competitive tension to make a good deal. Imho and good luck all shareholders- as with the vast majority of resource stocks atm patience is needed.
Yes Cyber that is correct and it is due to AFP not having any cash. When you are trying to find a partner they will search out any weaknesses to get the best deal.
The Ongombo mine build will be non equity funded by means of a partner as has already been stated a few times.
Levis it is all about cash and AFP don't have any unless they sell something or do a placing. Unfortunately, SFR did not want your Botswana licences and so you could sell them. The FQ could be big but you can't sell out even if you wanted and this one needs cash to fund the build of the mine. Mining is tough now and cash is king.
It doesn't show real progress it shows glacial progress.
This was a mine which Bird said at the outset was a simple open pit and would be in production in short order and they even had someone wanting to build plant for us.
Now we are still in advanced talks to fund building of the mine plant and still not completed Esa but more importantly no mention still of production.
Not sure about Ombonga - this RNS was an update on Ongombo in NE Namibia - east of Windhoek. It shows real progress with the permitting and a major update in the resource.
A good update on Ombonga would have helped Uscita but unfortunately it wasn't.
We want an update on the FQ options not this
At last an update but apart from the lisence renewal it's just the same old vague rubbish from Bird.
Still absolutely no vision as to when this project will be near production, never mind in production. Is there any wonder the SP continues to fall :-/
Great. Thanks.
I thought maybe some sort of joint venture was on the cards to which he failed to inform us about. Makes sense now.
It was a typo. Should have been ‘XRT’.
Looks like a typo and they meant XRT (x-ray transmission)
Colin mentions XTR. What does this have to do with AP
Very significant and positive update Take a look at the scale of the resource increase !!
Very nice map that
Nice map. You’d have to say based on that that AFP have the best of the licences. We also have a major exploring for us!
@levi CB says a lot on these interviews without actually saying much. Or at least much of anything new. But I guess exploration is a slow process.
I haven't been that impressed with his negotiation abilities in the past neither.
World needs copper but markets aren't paying up for land packages. CB seems to staking potential success on grabbing land hopefully close to another outfit that does find something.
Not sure passive plays are rewarded in this market. But with FQM perhaps AFP isn't that passive.
Don't think CB is more enthused by Glr or Xtr. Let's face it they are all being taken forward at the pace of a striking snail.
Given the amount of projects Bird oversees across all his stable of companies, the output of related news is glacial and embarrassing.
He talks well to the Roast crew but that's all it is, talk.
When this first listed he said the Namibia license would be producing in short order with a simple open pit and companies falling over themselves to provide plant. We are still waiting after he decided to do some more drilling and all has gone quiet.
Frustrating to say the least but how can you believe a word he says anymore.