Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video 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.
Oh well, the usual lack of interest causing the s/p to drift. But just watch people scrabbling to get back in over coming months should there be signs of a decent copper deposit.
Should have 6 months of drilling in the dry season
Newsflow to come from Botswana first
will take a while for essays to come through on Zambia about 6-8 weeks for results so don't expect essays to come quickly.
They are not looking for a partner for Bots yet its a strategic licence.
Still looking at other licences got out bid on the last one.
Can't tell us how many rigs they will be using Anglos are driving the comms.
Can say they won't have a problem getting rigs.
They were going to raise after the JV but decided against it
Didn't expect the sell off from the Pension fund.
It is his duty to make sure Arc are in a good cash postition in this market.
strong cash position now.
Anglo are methodical in their approach. will be surveys envirnomentals etc there is a process for the LML's.
He stands by what he said in December most exciting Copper play he has seen.
Did say something about BHP/Anglo deal if it effected the JV in any way there were others interested in the project.
(I wasn't on the call ... RNS this morning said most all too, you'd expect)
For a small while I'd hoped/guessed it might become a priority share for me but I'm plenty less sure of that now ( my small to mid size bet here has been and might easily remain very slow to see any further grow out )
The BIG hope here is always the Anglo expertise/ drill bit.. NvS had skills enough to get the JV done, at least.. but is limited in an awful lot of ways .. and is of course significantly overpaid .. and 'weasley cute ' enough to ensure he'll not be pushed aside here..
Ps: While the abusiveness on this BB was a shock to me at first, I'm coming round to finding it more entertaining as we go.. and so I've got that to keep me engaged here too :-)
Don't post rubbish, Jarv55! You'd need 51% of the votes cast at an EGM in order to oust him; you'd need a much smaller percentage to force and EGM. Since your statement ("its the first time he has been totally honest") implies that he is not normally honest, how do you know you can trust him this time? Were his lips not moving?
You would need 5% of shareholders to get rid of Nick and call a requisition one thing I will say about the call its the first time he has been totally honest.
Thoughts Lantier, Fulmar, Jarvis and Seis?
You loading up at these even lower bargainous levels?
GLA
TNR
XXX
Spot on, Peggy - Nick von Trapp and his merry munch of overpaid men need kicking to the curb pronto, the whole admin of Arc could just be put into care and maintenance whilst Anglo get on with the drilling, I hardly think anyone at Anglo will be on the phone to Schirnding asking his opinion about anything. Not unless they need someone to mismanage a local sweetshop (to borrow the words of John Meyer on Arc's poor management team, and he's one of AiM's most respected junior mining specialists.)
Perhaps the ramping will stop now, this has now become a long long waiting game, jam tomorrow and nothing more.
Peoples time would be better spent moving the management on, they have done nothing but destroy value here, IMO this will be below 1p in no time.
Glad to hear Cheyeza being one of the 2 top targets this drilling season. Should be fireworks from that one.
How do private shareholders go about changing the management at this company .When is Ni ck ever going to earn his outrageously high salary
@Valueseeker
Shard Capital Partners LLP were the Placing Agent for the recent raise.. - see the placing RNS
Probably Iexplains why we suddenly had an influx of posters who were fan girls of the former broker
Venting their spleen about NVS.
All nonsense really as the JV has 3 Directors from Anglo American alongside NVS so I'm sure they know what they are doing with their $85m!!!
Discovery and/or M&A, Valueseeker. Rest is all noise.
Agree with you - it's a waiting game. I'm excited to see how cheap I can buy some more shares...
As i see it, waiting game over next few months to get assay results back,but lots to look forward to when it arrives.
Wont lie, i was bored on the call and felt like another jam tomorrow type of call.
I have additional funds but definitely waiting and will watch for volumes to pick up...
We essentially had a 20m share overhang and because of this raise weve allowed a bunch of new loose shareholders to come on board dump stock at these levels and have free carry on warrants which has given us a bigger problem than before.
Very surprised to see us take on another broker...
As i see it, waiting game over next few months to get assay results back,but lots to look forward to.
Wont lie, i was bored on the call and felt like another jam tomorrow type of call.
I have additional funds but definitely waiting and will watch for volumes to pick up...
We essentially had a 20m share overhang and because of this raise weve allowed a bunch of new loose shareholders to come on board dump stock and have free carry on warrants.
Very
No! In short more guff. Nicks days must be numbered, imminently, shortly
Anything to report?
"Well, every deposit pretty well in that region is a billion tons"
At say 0.6% copper that equates to 6m tonnes of copper
At currently $9700/tonne that's $58.2bn worth...
.... but it's still in the ground so you can only attribute a few % of that value depending on many variables like grade, depth, jurisdiction etc...
So let's say 3% x $58.2bn = $1.746bn of which we would own c. 20%
So around $349m or £277m, or around 10-11x our current Mcap
To sum up my very very ballpark figures, I'd guesstimate that the discovery of each average sized tier 1 copper deposit would therefore add 20p to the s/p.
Not long now until phase two of the plan, phase one news issued, normal people try to ramp it up.
Phase two NVS trys to ramp.it up and convinces said phase one rampefs that this is the real deal, tell friends and family, ramp it on this BB big salaries and no results can keep going until a further raise required.
Imminently shortly and on it goes and goes and goes, pretty bad?
Quite right! I am heartened a little though to see that the wider market sees through Schirnding's jam tomorrow routine!
TNR you attribute so much "truth" to the share price in a given moment that you will never succeed.
Jarvis you really need to get out a bit more, perhaps take up fishing or find yourself a partner.
What you gonna do when the price tumbles again and you are left once again looking a fool?
Anyhow where is this broker note and how are your charts doing??
ATVB
xxxxxxxxxxxxxxxx
O'Brien | It's certainly got to go in drilling. I think for us right now, we've waited a long time to see what Dumbwa is made of. Dumbwa is a fantastic target. It's unique, it's high grade, it has all the makings of a really exciting story.
We still have three other targets to go and drill. We have KoBold, we have the excitement around that, we're pumped to be partnered with them. I mean, as I said, they're bleeding edge. They're doing things that nobody else has really ever done. They're moving forward.
We have the amazing geological team but a big drill program at Dumbwa is going to be super exciting for us, and then we're making our own plans now to attack something else that we have, which is oxide. You sort of have copper oxide in the top part of the stratigraphy and sulfide deposits down deep, right? So we're looking for these big sulfide deposits.
We also have oxides, and now we're looking at an approach to doing that. So we're looking for funding, and we're going to go out and start chasing oxides and see if we can put a resource together that would create a near-term mining situation.
In Zambia, 75 per cent of their export earnings are copper, totally mining-centric country. You've got every big player in the picture. You've got First Quantum, Barrick, Rio (Tinto), Anglo (American), now KoBold. You've got Ivanhoe just north of us in the DRC, which is a much tougher jurisdiction.
So you've got jurisdiction. What kind of scale are you dealing with? Well, every deposit pretty well in that region is a billion tons. So you have copper deposits that are at the very, very highest end of the spectrum.
The grade is there, the geological makings are there and then you have four or five of the biggest mines in Africa surrounding you, certainly Kansanshi being the top African copper mine and you then can think about runway to development. You're not looking at something that's going to need 10 years to move towards production, and we have to arm wave that we're going to build a mine.
Midnight Sun will never build a mine. That's not our goal. That's not our plan, but you have all these mines in the region that could certainly take advantage of that and if somebody finds something big enough on our property, or if we find something big enough on our property that we actually think it warrants a standalone mine, that's something to be figured out at that point but we don't need to aim for that. So it's really the right thing to be looking for in the copper space.
TMO | I imagine the company has some major plans going into this year. What are some of the things that you're most looking forward to?
TMO | Do you think this is one of the best times investors can get in on Midnight Sun? And if so, why?
O'Brien | Well, I think it's the best time to be investing in copper in general. Certainly we're going to be obviously very biased and say it's the best time to invest in Midnight Sun.
If you're looking for something in the copper space, first of all, copper, there's a new demand for copper that we've never seen before, That's right on the horizon, right? So you're probably, let's say 18 months out from seeing a new phase in copper that's going to be driven by electrification. That's going to give us a couple of decades probably of runway where you're going to see demand for copper like we've never seen before.
Never in my lifetime, never in your lifetime. Huge demand for copper and what you really have to look at is not just a demand for copper based on electrification. That is certainly the driver, but you have to look at copper projects globally.
So you have a lack of new projects coming on stream. You have a lack of discoveries being made and the discoveries that are being made are typically porphyry deposits. They're typically now, I like to say the low-hanging fruits been picked. So the easy ones to find have been found.
Now we're into these projects that are really deep, they're really expensive, and we're talking CapEx (capital expenditures) that's beyond what any junior could probably ever tackle. So huge CapEx, tough jurisdictions, they're very deep and you have to look for projects that are quicker to get into the pipeline of development, that are going to be able to reach production stage more quickly and that are probably lower CapEx, so meaning open pit, and then you have to think about jurisdiction. If you look at Midnight Sun, you have jurisdiction
It was a rainy season in Zambia, and that makes it very difficult to move rigs across the ground. It's not that there's a lot of rain days today, but they're in the process now. We're waiting for the ground to dry out. We're waiting for rainy season to end and be gone, get back to the beautiful 75-degree weather in Zambia and get the drilling underway.
TMO | Briefly we talked about the new science that is going into developing these targets. Can you recap the significance of this?
O'Brien | I think if you look at the approach that KoBold is taking, so in particular they're working on a project. If you look at our entire project, just to slightly digress here, we have four big individual targets.
So the property is essentially split up into four pieces. Each of those targets has the potential to be one of these billion-ton domes region deposits but basically they're focused on something called Dumbwa, and the deal that we struck with them is just for Dumbwa.
The rest of the property remains with Midnight Sun, and we're going to advance that on our own. But Dumbwa itself is a 20-kilometre-long soil anomaly, which that fact in itself is exciting, but it gets up to 0.73 per cent copper in soil. So the entire property is covered in a blanket of soil, if you will, and to find trace copper is usually a good pathfinder to something bigger going on.
In this case, the average grade of each mine across the domes region is 0.59 per cent copper spread across all of them. We have ore grade 0.73 per cent copper in soil across this anomaly, which is pretty spectacular. So KoBold is basically utilizing that. That's their pathfinder. They know this is the target they want to attack, and so they have a big drill plan for that.