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Started: Metalhead25, 4 Jun 2024 09:10
Last post: Investingeyes, 7 Jun 2024 17:33
Funding of Ongombo would be welcome
Chunky buy there at 3.37
Possibly more likely to be linked to NW Zambia as Ongombo looks like its tied to H&G in BZT - if that BZT license had been granted there would be an uplift there and there hasn't been.
Something seems to be happening here yesterday and today. Could it be news inbound? Possibilities:
- Completion of environmental assessment at Ongombo (previously said to be very nearly complete)
- Funding of Ongombo
- Zambia Chipogo assays (previously pending)
- Zambia new drilling developments
Started: Robsaunders99, 13 May 2024 16:10
Last post: Metalhead25, 4 Jun 2024 08:39
Ok, thanks
Hi he mentioned it at the City Club presentation last week which I went to , showed a map etc , don’t think there was a recording of that tho - the Sunday roast discussed it a couple of days ago when they covered the presentation
Cyber, do you have a link to the presentation where Cb links Ongombo with Hope and Gorob?
Seemingly a bit more interest in this share atm . Think we can be pretty confident that FQ are drilling away. As was gleaned from last weeks CB presentation and podcasts it looks like Hope and Gorob in BZT and Ongombo will have a combined processing operation , so any good news on the H&G license will be good for AFP too.
£6m market cap is just too low here with Copper at all time high and we have a nice licence here with First Quantum Minerals a major.
Some assay results pending and due any day from the 9 RC holes totalling 780m which were completed at Chipopa testing.
Started: dsymons, 4 Jun 2024 08:32
Last post: dsymons, 4 Jun 2024 08:32
Based on their assets.... this will multibag from here,
Finally its happening
Very little free float
Afp gets a mention,past 25 mins in....next to bzt
https://audioboom.com/posts/8516851-sunday-roast-featuring-charles-archer-long-term-ftse-aim-investor-and-freelance-financial-analys
In 2023, African Pioneer PLC increased its cash reserves by 419.27%, or 300.49k. Cash Flow from Financing totalled 785.10k or 2,256.03% of revenues. In addition the company used 616.37k for operations while cash from investing totalled 252.27k. African Pioneer PLC uses little or no debt in its capital structure. Colin Bird (EXECUTIVE DIRECTOR,CHAIRMAN) bought 6k of shares in 29 DEC 2023 and 15k of shares in 29 AUG 2023. 3pm incoming!!!!
Just a baker who fancies some copper buying top price
Started: Catbert, 14 May 2024 18:13
Last post: Troajan, 15 May 2024 09:47
Almost full ask paid there.
Copper is really hitting its stride now. There can be no excuses here, we are perfectly placed to take advantage
When a single £22k buy generates a move of 20 odd per cent, you know what will happen if/when we get some positive news that really captures the market’s imagination. Will be 7-10p in the blink of an eye. Think EST’s 2024 move but more so
Explains the sudden rise. Hopefully a driller seeing a lovely dose of copper in the core !!!
A £22k late posted buy from yesterday at 2.6p.
A pretty emphatic looking trade compared to the usual itsy bitsy dribbles that usually comprise the day's trading here.
Hmm?
Started: Metalhead25, 14 May 2024 07:49
Last post: Metalhead25, 14 May 2024 07:49
Last post: cyberiachas, 2 May 2024 23:26
I’ll leave that to those who keep claiming to have the inside track , eg yourself
You clearly needed some help. We would not want you to mislead the markets would we ?
If you look up sanderson, it's not the most comforting. A tiny company with a few employees....likely relatives. Easy to fold up if any problems arise. Unless I'm looking at the wrong one.
Https://sandersoncp.com/
Sanderson have a large part of their investments in natural resource companies. I am sure they have done a lot of dd to provide this deal so very encouraging.
Thanks for correcting a missing O there btw Irish ;) great work
Colin Bird, Chairman of African |Pioneer on Sunday Roast Mid-Week. https://twitter.com/RoastPR/status/1782731974949437814 22 hrs ago, Wed 24.4.24.
Sunday Roast entitled it" #AFP, Colin Bird..
On Galileo Resources, another of Mr Bird's co who also has a licence near African Pioneer is currently today discussing Mr Bird's interview as above. They said they heard Mr Bird talk about poster on the stock forum [presumably on his stocks] that they are "MORE EDUCATED AND ANALYTICAL."
Thanks to Mr Bird who supports analysis given even XTR, another of Mr Bird's co , also in Zambia has analysis.
So, Mr Bird is the school master who is marking papers on analysis. LoL. Wed, 24 Apr 2024.
AFP Roast podcast with Colin and Martyn just out
Yes it's about time Bird concentrated on getting Ombongo up and running as the FQ asset is obviously a very slow burner.
Far too little news on our Namibian asset but nothing new across all of Bird's companies.
Either he should retire or get a move on.
Bit meh really.
Started: Metalhead25, 11 Apr 2024 18:48
Last post: cyberiachas, 16 Apr 2024 10:32
Charles has mixed up XRT and XTR just like they did in the RNS - brilliant eye for detail
Off the back of the news release 7feb re Ongombo it could well see the final nudge to development stage with a potential new partner and cash injection from XTR.
Ongombo (by name only) was mentioned by Colin as a further project that XTR was looking to JV at a recent GM to vote on the disposal and sale of their Manica mine.
Ongombo certainly fits the criteria at this point in time in its evolution for XTR’s acquisition strategy. Would benefit both AFP and XTR if this is not one of Colin’s name muddle ups as the project described at XTR’s GM was just west of FQM Sentinel mine.
Could be interesting.
Started: Irishdemon, 22 Feb 2024 08:16
Last post: levistubbs, 20 Mar 2024 09:09
As we know, the FQ updates will come when they come.
The disappointing thing is glacially slow progress on our own project in Namibia but that is the way Bird is operating all of his companies it seems.
No sign of a proper FQ update for our licenses - apart from the fact obviously that they exercised their JV option of 2 of them for a total of 4. I suppose it has been the rainy season but there was plenty of talk about ongoing drilling activity so shouldn't we expect a proper update at any point now? I believe the last one was October 23 some 5 or so months ago.
FQM were very quick to progress Sentinel into production after they acquired it. Would be great for them if they could confirm a significant deposit on African Pioneer's licences.
Nothing wrong with your analysis and unusual style but for some reason I cannot figure, I cannot open even one of the multiple links you have posted !!
With that, I can now take my leave with a more expert link copier than me.
Thank you and God Bless - typed out all the layer by layer peeling of this co's NW Zambia, which was very hard to decipher. Why? The geology - one has to go thru so many co's that are now at NW Zambia to peer review.
News, Thur, 22 Feb 2024.
I quote from the article dated today, 21 Feb 2024 relating to First Quantum results via Mining.com
"The co is the sole owner of Sentinel mine & has an 80% stake in Kansanshi mine. Its presence in ZAMBIA, the 2nd LARGEST PRODUCER includes Fishtie copper project near the border with DRC. ===IT ALSO INCLUDES 2 LICENCE OPTIONS THROUGH A DEAL WITH A F R I C A N P I O N E E R [LON:AFP]."
METALHEAD 25: AFP-FQ JV.
!1 July 2023 : Screenshot of FQ AIR CORE drilling ---------6 6 HOLES ---totalling 4,028m --at TURACO, EAGLE & KANYIKA. Soil sampling at CHIPOPA. [2] Drilling at ITAKU, RNS dated 6 Feb & 6 June 2023 --------In short, it seems FIRST QUANTUM HAS D I S C O V E R E D that the GEOLOGY that HOSTS THE MASSIVE KAMOA-KAKULA DEPOSIT IN DRC --EXTENDS INTO ITAKU. Copper has been identified by drilling. Here comes the exciting part. SO FAR, FQ HAVE PUT 2 HOLES into Itaku , 5 KM A P A R T. Looking for area ..accumulation..this means more AMT & then more drilling. If successful it could be HUGE. COLIN BIRD APPEARANCES ON SUNDAY ROAST , HOW HE SPOKE OF ITAKU on 17 May & 7 June [1] "ITS TRANSFORMATIONAL FOR THEM [FQ], let alone US, & they are a $23bn co.========THIS IS THE BEST DISCOVERY, THE BEST RESULT , THAT I HAVE HAD THE PLEASURE OF PUTTING OUT & that INCLUDES KALUMBILA WHICH I SOLD FOR $260M. " [Colin Bird, Chairman of AFP].
" If anyone knows of another explorer with anything like this much going for it, for sub £5m, let me know."-Metalhead25 @1 July 2023.
"ONGOMBO: NAMIBIA [AFP]"-Metalhead25 posted on X, same thread as above on FQ/AFP, NW Zambia:
"AFP owns 85%. Sunday Roast podcast on 17 May , Colin Bird envisaged at least 10k copper p.a. at current prices would be $83m a year, 40% MARGINS." -1 July 2023 by Metalhead25 with thanks on Twitter.
Link: https://twitter.com/Metalhead2525/status/1675019415761432576 [1 July 2023 by Metalhead25].
FQ-AFP ORIGINAL AGREEMENT, 22 JAN 2022:
From the table, there is NO impediment for AFP to sell, except it has to be offered to FQ first.
[NOT SURE WHY MY THREAD QUOTING COLIN BIRD, CHAIRMAN OF AFP FROM 1 SUNDAY ROAST INTERVIEW DATED 7 JUNE 2024 [even Metalhead25 heard it and quoted it on X] stated Mr Bird said: "TERRIFIC DISCOVERY -MAJOR DISCOVERY."
As I said today, it is SUPPORTED BY AFP RNS. -------I THINK SOME HAVE NOT TWIGGED THAT FQ HAS DRILLED AIR CORE & DIAMOND DRILLING & LAST REPORTING, FQ SPENT $1.6M but could be more since then as the 16.2.24 AFP RNS stated MORE THAN $500K SPENT ON EACH OF THE 4 LICENCES, NW ZAMBIA JV WITH AFP. SO, HOW CAN FQ SIGN 1ST "EARN IN" AND PRODUCE TECHNICAL REPORT ["INDICATED MINERAL RESOURCE"] @28.2.26 -----------IF THERE HAS BEEN NO DISCOVERY YET?----So, folks MIS-READ RNS OF 16.2.24 AFP and thought JV STARTING FROM SCRATCH but not realising 2 years have passed and FQ COMMITTING TO INDICATED MIN. RESOURCE STATEMENT. CANT SIGN IF NO DISCOVERY, MINING 101? DYOR, NIA. Pls check. 21 Feb 2024 AFP, £4m+ @2.39p [to buy].
FQ are doing a investor presentation tomorrow. Hopefully we will also get some news.
Started: news, 21 Feb 2024 13:39
Last post: news, 21 Feb 2024 13:39
Https://www.mining-technology.com/news/first-quantum-to-expand-production-in-the-african-copperbelt 19.2.24
By Mining-Technology.com
The above title is taken verbatim from the article. The other details are about the taking up of the other 2 licences from AFRICAN PIONEER plc and First Earn In period to prepare a Technical Report "BEFORE FEB" to earn 51%.
Comment:
Mining Technology records major mining news and it is interesting that First Quantum signed with AFP on 16.2.24 due to its Panama operations ceasing. Its a no wonder why the Technical Report of Indicated Mineral Resource is to be done 28 Feb 2026 which appears rather FAST? Kobold & Midnight Sun JV announced yesterday, 20.2.24 is for a 4 year period to earn 75% even though there has already been drilling done by Midnight Sun before the JV. Midnight Sun's strike length is 20km and targeting 1bn tonnes. AFP 's strike length is potentially >45km and targeting 1bn tonnes also. [see AFP presentation Mar 2023 in earlier post below.] LOOK FORWARD TO FIRST QUANTUM ISSUING THE MODELLING of the JV project etc.
Started: news, 21 Feb 2024 12:15
Last post: news, 21 Feb 2024 12:15
-------------FIRST QUANTUM SIGNS OPTION, 1ST EARN IN PERIOD AGREEMENT TO EARN 51%.-------
[1] ----AFP RNS [3565D] 16 FEB 2024 @17:00: "CENTRAL AFRICAN COPPERBELT: UPDATE"---Latest Update
AFP-FQ: "FIRST EARN IN PERIOD: 18 Feb 2026 -Technical Report INDICATED Mineral Resources of at least 300,00Mt of contained copper to earn ---51%." FQ has signed the option for the 2 remaining licences, totalling 4, NW, Zambia.
"Extremely successful for both FQ & AFP with the --WESTERN FORELANDS & KAMOA style mineralising environment being ESTABLISHED as well as NEAR SURFACE mineralisation in the fold & thrust domain further to the east of our licences."
[2] ----AFP ANNUAL FINANCIAL REPORT, 28 APR, 2023 RNS 9588X @18:17---
"FQ have reported considerable success with their initial field work & drilling programmes. E..xp including deep holes
Outcome ..EXTREMELY HIGH in potential with FQ stating they believe that the --OREBODY--style RESEMBLES that of ==KAMOA KAKULA == in the nearby Congo & the WESTERN FORELANDS mineralisation associated with Kamoa. This represents a potential SIGNIFICANT ---M A J O R DISCOVERY --for Zambia, First Quantum [FQ] & of course African Pioneer [AFP]."
[1] ----INTERVIEW WITH COLIN BIRD, CHAIRMAN, AFP WITH SUNDAY ROAST, 1 OCT 2023---
Season 6, Episode 6.
Mr Bird: " Massive STRIKE of GROUND, ---------R E P L I C A OF K A M O A ."
https://twitter.com/RoastPR/status/1708434484431892852 1.10.23
"Kamoa 2nd richest mine in the world. "
[Ref: AFP Mar 2023 Presentation, https://africanpioneerplc.com/presentations-reports/ Pg8/22: "Combined STRIKE length > 4 5 KM peak xRF 316-1,046ppm in soil. TARGETING NEAR SURFACE 1 B I L L I O N TONNES@>0.5% CU [+Co]."
[2] Colin Bird, Sunday Roast Interview: "Its transformational for them [FQ], let alone us, and they are a $23bn co. [b] THIS IS THE ---BEST D I S C O V E R Y, BEST RESULT, that I have ever put out , and that includes Kalumbila which I sold for $260m." Link: https://twitter.com/Metalhead2525/status/1675020566678450176 dated 1 July 2023.
Waiting for update from FQ/AFP after the Financial Results & Presentation from FQ, 21 Feb 2024 [released].
DYOR. NIA. The poster Metalhead put the info in a tweet [linked] and said no one talks about it. I
Industry News:
KOBOLD signs JV with Midnight Sun of Canada, Wed, 20 Feb 2024 [NW Zambia]. Midnight Sun is targeting 1 BILLION tonnes [ie rocks] and their licence is near the majors with 1bn tonnes mines - @newton of CEO.CA posted a Youtube on it via https://ceo.ca/MMA [Midnight Sun]. The JV is for 4.5 yrs with Kobold earning 75%. A/c to the presentation on Youtube, it was said that the First Quantum mine Kananshi [to the North of Midnight Sun] is running out of ore, NW. Zambia.
First Quantum has 2 mines ie Sentinel [formerly bought from Colin Bird for US$260m [Kalumbila, Kiwara Plc] & Kananshi.
Comment:
Mr Bird's interviews with Sunday Roast ARE SUPPORTED by the AFP RNS & Annual Report AFP RNS as abov
Started: news, 20 Feb 2024 15:30
Last post: news, 20 Feb 2024 15:42
LoL
Found the map of where MIDNIGHT SUN'S SOLWEZI , ZAMBIA IS:
It is 2 doors away from FIRST QUANTUM'S SENTINEL MINE [1.03 Billion Tonnes @0.45% cu] to the right of Solwezi.
1 door away is BARRICK MINE [LUMWANA @ 960Mt @0.55% cu.
Midnight Suns'Solwezi is SOUTH OF FIRST QUANTUM'S KANASANSHI [1 Billion Tonnes @0.66% cu copper].
-------ALL IN THE DOMES REGION--nearby.
Colin Bird sold KALAMBILA [Kiwara plc] to FIRST QUANTUM for US$260m and FQ turned it to Sentinel and increase the tonnage further.
Link: https://midnightsun.com/multiple-target-areas/ Zambia Domes Region and nearby showing the above.
---------------ALL CHASING TIER 1 IE 1 BILLION TONNES [at least] and at the grades of 0.5% + as above.-------------
"Midnight Sun Mining and KOBOLD join forces on the DUKWA target in Zambia."- Junior Mining Network, 3 hrs ago, Tues, 20 Feb 2024.
Midnight Sun is a Canadian co. KOBOLD of Bezon & Gates fame is UPPING its presence in ZAMBIA after hitting a big copper discovery in NW Zambia [said to be largest in this Cth?].
Kobold is taking 75% and can spend US$15m in exploration and make cash payment of US$500,000 over ======4.5 YRS.
Dumbwa is Midnight Sun's Solwezi project in Zambia.
Comment:
I dont know yet where the above project is. Above is INDUSTRY NEWS about Zambia given AFP is at NW Zambia -JV with First Quantum. Kobold already has another JV with a UK AIM co besides AFP. HOTTING UP IN ZAMBIA ie exploration.
Anglo about to start drilling near AFP?
Tues, 20 Feb 2024.
Started: news, 18 Feb 2024 23:23
Last post: news, 20 Feb 2024 13:26
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.
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.
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
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.
Started: news, 19 Feb 2024 14:25
Last post: news, 19 Feb 2024 21:53
LAST POINT:
I have just had dinner. So, will finish my post. As for Bushrangers , Bird project [Chairman of AFP] for example, he may have said he wants 10p but of what mkt cap? Do not forget he cannot say I will accept x, y, z price as he would lose any bargaining power. Look at Havieron - the shareholders said they want x, y, or z and the major is NOT playing. Of course, shareholders want top dollar and major gives fair value at max. Sol as in Bushrangers, I thought I had better explained so that there is NO MISUNDERSTANDING. As for Mankayan [Lawrence asked Bird to run the co], they REFUSED to sell for an OFFER that only paid out MINING DRILL COST. As for NW ZAMBIA, yes, Cynus7, if Bird hits big, that will set a light on AIM and Bird said that as well but not necessarily relating to his co alone but to AIM in general as a principle. There is LACK OF DRILLING details , even Kobold who hit the biggest copper this Cth, one notices they NEVER released TONNAGE, GRADES etc. Why? Not sure given is it for commercial protection or they dont want rivals to get licences nearby or on the trend etc? IT IS MY BELIEF from looking at the NW ZAMBIA MAP, that AFP managed to get First Quantum in a JV because their licences are in the "HOT EXPLORATION AREA OF THE DOME" [per Chairman of ARCM]. Also, AFP's 1 licence is SITTING ON THE WESTERN FORELAND TREND CONGLOMERATE itself coming down from the DRC legendary KAMOA Kakula.
Any licence that has NO MAJOR in a JV means that yes, if it hit big, it can pay out but equally if it does not hit Tier 1, then, money spent and either one has to try to develop it [beyond a AIM co's reach] or sell out to a smaller player. So, advantage and disadvantage.
AFP -FIRST QUANTUM JV, NW ZAMBIA.
Even Jack Dann is aware that it may not go beyond 51% to First Quantum and 49% AFP. Why? WITH A INDICATED MINERAL RESOURCE STATEMENT , it is saleable. Mather said, majors know and understand results and even without a MRE it can sell [of course if it is a potential Tier 1 as majors are not interested in small projects]. MRE is maiden resource statement and one can be produced once drilling results come in , after some reasonable no of holes are drilled. After all, it is just putting all the figures together.
SATELLITE
On open file, one can zoom in to the NW Zambia and see what holes FIRST QUANTUM has drilled or are drilling by the collars etc seen by public satellite for free. One will need the co-ordinates etc to do so. That way, one can tell HOW FAST THEY ARE WORKING etc and how many holes thus far.
Please remember, I have limited data as it is public info and therefore, I am not privy to Bird's inner figures of how much, how he will play the subtle games etc. Thus far, Mr Bird commended First Quantum ie they invited them for 3 days to see the details and they are not LAND BANKERS etc. So, with that in mind, read the DATA, FILL IN , CORRECT A/C TO ONE'S OWN VIEW. Right view, right outcome, wrong view, wrong outcome for self
Cyberiachas: That is what I heard from Jack Dann, Geologist at POW who was a guest yesterday on Sunday Roast to discuss FIRST QUANTUM'S -AFP RNS, 16 FEB 2024. Usually, I listen in the dead of the night. My ear plugs are the Japanese type ie tiny. I want to preserve my ear drums --I cant put the sound up w/o using ear plugs as I dont live in a mansion with 20 rooms on 20 acres. So, as I said, CHECK and listen as audio , one can hear wrongly as some words are swallowed. To me, I dont care as Dann said TENS OF MILLIONS, HUNDREDS OF MILLIONS taken to mean revenue as is understood in general. He didnt need to tell me -------MATHER sings the song so often that I hear it auto if Tier 1. DYOR. NIA.
Contd
Mr Bird said, it is NOT MR BIRD SAYING, IT IS FIRST QUANTUM. Any proof? Yes, the RNS states they have DRILLED both air core and diamond drilling, soil sampling, geophysics etc and from the latest RNS , they spent MORE THAN US$500,000 on each of the 4 licences [or that is what I understand, just in case I am pulled up for EACH or the whole lot. But logic says, $500k USD is a bit low if for all 4 licences over 2 years ie 22.1.22 -19.2.24].
--FIRST QUANTUM/AFP JV, 16 FEB 2024---
In mining world speak, folks would know that NO MAJOR [mkt cap in billions] WOULD SIGN AN OPTION STATING THEY WILL TAKE THE REMAINING 2 LICENCES [total 4] AND PREPARE A INDICATED RESOURCE STATEMENT ON 28 FEB 2026 [or by?]. So, where is the Mineral Resource Statement as norm [MRE]? There is NONE as it was not agreed to. But it is assumed that there is an INTERNAL MRE [Mineral Resource Estimate] given over 2 years of drilling , there has to be a COMPOSITE report [estimate]? WHAT IS FIRST QUANTUM GOING TO DO AFTER THIS? It is obvious that to get to INDICATED RESOURCE STATMENT, a lot more drilling has to be DONE, with closer space, in-filling etc and extensions.
SO, "TERRIFIC DISCOVERY -MAJOR DISCOVERY" per Mr Bird @Sunday Roast, 27.6.23 is the indicator and First Quantum's signing on 16.2.24 lends credence to it. IF THE PROJECT FELL SHORT of Tier 1 or close to, First Quantum MAY NOT HAVE SIGNED on 16.2.24 and RETURNED the project back to Mr Bird. Not useless but NOT BIG ENOUGH for a major. POTENTIAL STRIKE 30KM but if one looks at the presentation from AFP Mar 2023, it is more than 30km. That is DISTRICT SCALE.
If less than Tier 1 or close to Tier 1, Bird will have to interest a smaller player.
COMMERICIAL ACUMEN:
On 1 of Bird's stock forums, one said that oh, AFP will get 20% etc. NO, DONT THINK SO. JACK DANN, GEO AT POW , DISCUSSED AFP/FIRST QUANTUM AND SAID FIRST QUANTUM GETS 51% -------------AFP 49%.--------. That's a Geo/s view.
Why? Do not forget Bird's AFP does not own 100% of NW ZAMBIA 4 LICENCES -Lemon Consultancy owns the other remaining %. BIRD HAS SOME 10.7% STAKE IN AFP =£700k+ SO, WITHOUT HAVING TO SPELL IT OUT, JACK DANN, GEO does not think anyone with a biz brain would be sitting to wait for 20% crumbs. ========AS SOON AS THE INDICATED MINERAL RESOURCE STATMENT COMES OUT 28 FEB 2024 [or before?]======= B I N G O ---------TA TA, WE WANT TO SELL as it will show X, Y or Z TIER and if Tier 1, well, it will be like Kalumbila [Bird said better than Kalumbila, ie bigger]. Let's not get too greedy and say, a slight discount, even then, CANT BE LESS THAN KALUMBIA M & A [even price of copper rise further as expected by the industry].
I proffer no view of my own as that could be wrong but once the RNS came out from AFP on 16 Feb 2024, there was a rise of 16%. Today, the rise was 4.9% and I could SELL in 1 go. Yes, Cynus7, I have time and then END GAME has started once FIRST QUANTUM SIGNED ON THE DOTTED LINE ON 16 FEB 2024. Yes, in the nigh
Cynus7 2
Let me explain the "commercial shrewdness" of Mr Bird and his style. I didnt know until shareholders returned from the Bushranger AGM. Mr Bird explained that to DRILL further, it would require $8m [or £8m] which is a lot of money that they didnt have at the time. Clever or not? I say clever because Bushrangers is a very large acreage and the anomalies potentially as many as perhaps more than 10 from historical data. BUT, THE DRILLING PROVED THE GEOPHYSICS etc and therefore, the BUYER is expected to be EXPERTS and Bushranger will be SOLD on the basis that the geophysics etc SHOWS MORE THAN WHAT WAS DRILLED by Bird. Mr Bird himself said LEAVE SOME on the table for the buyer. Bird is also aware that Bushrangers, if like CADIA-RIDGEWAY, there is more to drill and deeper. I QUOTE MR BIRD IN HIS INTERVIEW: "[1] THERE IS INTEREST. [2] BUSHRANGER WILL BE A MINE. IT IS AN ACE." What is an ace? In card playing, it is a contingent card. What is there is interest? Code: NOT SELLING CHEAP ie for buttons? Many are not cognisant, the industry does not work on CURRENT copper price but rather on Bird's twitter, he stated that majors are working on 2025 prices for deals. You will recall Bird said he is not selling for less than 10p. Well, he may have to lower his expectations a bit since the market is rather weak. Hence, Bird sold MANICA for some $17m region but in the past, the sale price was $20m. Wasnt that an ace? How he managed to GET $17M at this time in Mozm is a wonder. The next anger is that Bushranger's grade is 0.22% cu and fell short. That happens oft times given in Oz, the grades are not high and around the immediate vicinity esp gold did not turn up to lift CuEq .But many of the wkly reported drills are also for 0.2% copper provided the intersections are LONG. But folks want instant riches now. That can only come with TIER 1 re-rating. Bird's Kiwara @ Kalumbila was also SHORT at 0.45% cu copper @800Mt. Same grumble from what I gather and it was silent for some time, until one morning First Quantum bought it for US$260m. In those days, it has to be at least 0.5% and Lawerence said 1% [copper & gold equivalent ideally to attract a major]. First Quantum even developed PANAMA COBRE in Panama jungles with 0.1% cu copper but it is surface. The capex was some $10bn from overruns but this is from recall.
Even $2bn is hard to raise, never mind $7bn and upwards. So, this is the forte of First Quantum to squeeze it into a Tier 1 as they did with Bird's Kiwara @Kalumbila and FREE NICKEL thrown in next to Kalumbila, Zambia. This must be explained as you mentioned folks are upset about that. I cannot GUARANTEE that will be the case as I am not privy to Bird's convo with potential buyers etc.
AFRICAN PIONEER JV WITH FIRST QUANTUM:
Firstly, there is NO MINERAL RESOURCE STATEMENT in the AGREEMENT of 22.1.22 asked for or agreed to be produced by First Quantum. Why not? IT COST MONEY TO ROUND UP ALL THE NO'S FROM THE DRILLS THUS FAR. Mr Bird sai
Looks like my previous post disappeared, but i'm pretty sure its 300mt across all licenses, not each one, for FQ to reach the next shareholding level. Roast hosts said this specifically. If theres an RNS out there that says different please share.
Started: news, 19 Feb 2024 12:11
Last post: news, 19 Feb 2024 12:56
Contd
KAMOA STYLE MINERALISATION on WESTERN FORELANDS.
-COLIN BIRD, CHAIRMAN, AFP, 23 OCT 2023 RNS:-
The option period had extended to 17 Jan 2024 for FQ : "wish to complete SUFFICIENT WORK to DECIDE on the PROSPECTIVITY of the other 2 licences. Option period SUCCESSFUL for AFP & FQ with the ====//WESTERN FORELANDS & KAMOA STYLE MINERALISING environment BEING ESTABLISHED//=== as well as ==//NEAR SURFACE MINERALISING fold/thrust -===FURTHER TO THE EAST===on our licences.//
We are particularly eager & excited to see the OUTCOME of current TURACO drilling===GIVEN THE BROAD INTERCEPTS REPORTED AT SHALLOW LEVELS DURING THE 2022 program."
---INDICATED MINERAL RESOURCE, 28 FEB 2026-[AFP -FQ OPTION PERIOD TO EARN 51%]--
There have been a lot of AFP RNS's since 22 Jan 2022 and lots of details about drilling etc. Yesterday, Sunday Roast interviewed JACK DANN, GEOLOGIST at POW to talk about AFP/FQ and the details I have cited yesterday. Dann informs that the 300,000 tonnes are for EACH OF THE LICENCES [4] and that REVENUE is into TENS & HUNDREDS OF MILLIONS.
COLIN BIRD INTERVIEWS:
[1] "INITIAL PROGNOSIS IS BETTER THAN KALUMBILA."-24 Oct 2022, Sunday Roast.[Mr Bird re-tweeted this yesterday, Sun 18.2.24]
[2] "ABSOLUTELY TERRIFIC --==D I S C O V E R Y, =MAJOR DISCOVERY."-Sunday Roast, Season 5, Ep 64, 7 June 2023.
[3] "MUCH BIGGER THAN KALUMBILA."-SO6_13 Midweek Takeaway with Colin Bird, 3 mths ago. [Sunday Roast]
[4] "SUNDAY ROAST FEATURING JACK DANN, GEOLOGIST @POW talking about AFP/FIRST QUANTUM JV. 18.2.24.
---------------KALUMBILA WAS SOLD BY MR BIRD AT KIWARA PLC FOR US$260M TO FIRST QUANTUM--
First Quantum went on to develop Kalumbila into the world's 14 largest copper mine and largest in Africa.
Kalumbila , NW ZAMIBIA is about 80-100km from the current AFP 4 licences JV'ed with First Quantum.
----AFP SALE OF 4 LICENCES ?---
Under the agreement with FQ, AFP CAN SELL the 4 NW licences but 1st right of refusal given to FQ.
Jack Dann made the point that AFP WILL OWN 49% OF JV [FQ 51% at 1st Earn in, INDICATED RESOURCE MINERAL REPORT.]
AFP PRESENTATION, MAR 2023:
"PHASE 1 DRILLING COMPLETE.
LARGE ANOMALIES DELINEATED.
30KM STRIKE LENGTH.
Phase 2 drilling planned.
Shallow drilling peak up to 3% cu copper.
Near surface intercepts 0.5% & 0.75% cu copper over>50m.
Combined target strike length 45Km.
Immediate neighbours: Rio, FQ & Anglo.
Percussion drilling over 3 licences/AFP.
KAMOA to N.ZAMBIA expected to produce SEVERAL TIER 1 DISCOVERIES, copper/cobalt.
FQ delivered multiple LARGE near surface copper in soil targets with good CONTINUITY.
Another LARGE anomaly delineated.
7 near or at surface cu copper in soil targets identified.
-----TARGETING NEAR SURFACE >1 BILLION TONNES @ >0.5% cu copper [+CO COBALT]."
---------------------SIGNING OF OPTION PERIOD FOR ALL 4 LICENCES AFP -FIRST QUANTUM.-----------
dated Fri, 16 Feb 2024. Shares of AFP rose 16% as reported in the press on this RNS.
------------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
Started: news, 18 Feb 2024 12:58
Last post: news, 18 Feb 2024 17:51
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
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 ?
Started: news, 18 Feb 2024 17:07
Last post: news, 18 Feb 2024 17:48
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."
Started: news, 18 Feb 2024 01:30
Last post: news, 18 Feb 2024 01:30
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]
Started: news, 18 Feb 2024 01:05
Last post: news, 18 Feb 2024 01:05
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.
Started: news, 17 Feb 2024 20:34
Last post: news, 17 Feb 2024 21:53
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
Started: news, 17 Feb 2024 15:24
Last post: news, 17 Feb 2024 15:49
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.
Started: Metalhead25, 16 Feb 2024 07:15
Last post: PaulFG, 16 Feb 2024 20:33
@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...
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.