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Very desirable before you long. Nice buyout at 200-300 million for our entire company and I will be happy with that. Multiple good copper assets and extra thrown in as well
https://oilprice.com/Metals/Commodities/Copper-Mining-Stocks-Poised-to-Benefit-from-Growing-Demand.html
- we have a strong mineral resource at luansobe and some very interesting drill results at kamativi and shinganda
- I was also caught up in the hype on Bushranger xtr -Colin got that completely wrong and essentially misled investors about what to expect and the likelihood of a deal, whether deliberately or not -maybe he was convinced himself that it was an imminent big win - well clearly it wasn’t , in 2022 anyway
But what’s in the ground is in the ground and Colin has proved that he can get it very right as well as very wrong .
I think the cb factor means this share is quite a lot cheaper than it should have been given we are really not far from having a v profitable mining operation or perhaps an asset sale. I’ve seen that as an opportunity personally to get more shares for less money.
I did get a whiff from the last Roast that a sale was still an option- personally I would much prefer that. I’m not sure our executives have enough experience at either setting up or executing a mining operation/profit share (see unclear and tortuous Manica deal).
So hopefully lessons are learnt, get the asset oven ready and flog it or have a simple easily managed deal with a partner to get the $$$ rolling in
Considering there's a mining operation starting this year, are there any photos of the mine? Are they building a mine or using an existing plant?
I'm new here so forgive me for not being as well informed as the LTH.
You really do have a lot to learn I am afraid. Too much for a Bulletin Board to help. Good luck. Try investing in BT, Lloyds or something a bit more predictable and tangible !
It's a simple question. I've looked through the website and Rns's. You can't mine without a processing facility. And if we're supposed to be mining by September I'm sure it should at least be being built or have an off take agreement?
Lmao 🤣 just looked back. DD? I'm afraid you are the one who needs to learn and also grow up a bit.
Lucky - according to this weeks podcast, the ground is covered in jungle and undergrowth. Once that is cleared they have to remove the top 10 metres to get to the ore. The ore will be excavated and then processed by Mopani or whoever. Eventually they will be able to access the deeper ore via a mine (plan B). This will not be done by GLR according to Colin. The alternative/concurrent plan is to drill to 1200 metres and hopefully find more ore (plan C). At this point the whole lot will be sold to Mopani as an extension of their existing Mopani mine. According to a podcast there has already been a drill to 1200m which did find copper - 1% ?. However they have been unable to find the records.
This is my understanding but others can correct me if wrong. When production starts - ????
3 processing plants close by, ore will be shipped amd sold to the processor, removing the need and cost of processing
You can sunshine. It is called 'toll processing' and is used all over the world to avoid Capex and make small reserves commercially viable. Get it now ?
Thank you Flipper!. the response I was looking for.
This is what boards are for! To share information, not insults. Take note Irish! Looking at your posting history on all your investments, you are very confrontational?! I hope your life improves.
So, we expecting a deal with Mopani? I assume we will get rns confirmation with figure and breakdown in near future. Has Colin said they have been in talks with Mopani?
How naive can you possibly get ?
Lucky - Colin has connections to JLP. JLP is involved with Mopani. Their name has also been mentioned on the podcasts. But as said in yesterdays SR podcast, the Chinese are desperate for ore so maybe they will offer a better deal. An RNS could be issued today. But then it could be next year. If the Chinese offered a great deal I doubt Colin would say no.
Irish, the last response to you. Considering you didn't know what DD meant, you shouldn't be calling people naive.
Unlike you, I don't assume I know everything. There's nothing wrong in saying, I don't know.
Everyone can't know everything all the time. That's whys people share thier thoughts and information with each other. It helps grow the human race and thier intelligence.
Also, there are people that Google stuff and then act like they knew all along.... you spring to mind.
Grow up, you don't know it all.
There are three distinct elements to the Luansobe:
a) The Open Pit - delineated - can operate on its own
b) Underground - delineated - can be reached on a ramp down from the pit
c) The 'deeps'
The JORC gives details on grades and tonnage for a) and b)
c) this is what makes it interesting for Mopani. Read: https://mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10400372
Grades are significantly higher the deeper you go. The tonnage - mention of 65mt - hence CB's and Cooper lemons comments on 60-70mt
The open pit is as easy as it gets. Low overburden. 1% grade. 0.25% Break Even (cut off) grade. I would not sell the ore. I would outsource the mining, the transporting, the processing and would hire a guy or two to make sure it all comes together. The numbers are compelling and a significant multiple of current market cap.
Operate the Open pit as above = $$$ , drill the remainder of the site and if good enough - sell to a third party. Likely Mopani given it is along strike - they could probably use the existing shaft.
Copper is ripping: https://www.livecharts.co.uk/MarketCharts/copper.php
Flipper, thanks. So guessing there's been very little talk of mine plan, mopani etc. Can we assume colin is planning on outright sale?
Colin doesn't strike me to like being involved with mining, just exploring.
Ana - "Likely Mopani given it is along strike - they could probably use the existing shaft".
Isn't this the point. Currently it is speculated but not proved. If GLR was a major I assume they would just drill some deep holes and answer that question. For GLR it a risk given the costs involved. As previously mentioned, does Colin play safe or throw the dice ? All purely IMHO and happy to hear alternative arguments.
The Open Pit is proved hence the small scale mining license with minutes showing approval, the Cadastre updated, and waiting on the RNS from GLR. The open pit prodction is what would pay for the deeps exploration (as well as other assets exploration) IMO. CB and team does not need to be experts in open mining - simply hire guys to do that - CB has the contacts. Exploration of the 'majority of' the deeps is best run in parallel with Open Pit mining.
Copper going gangbusters and this has had barely £4k of volume. Laughable.
We might have plenty of decent assets but someone is obviously doing something wrong.
Time for Bird to hand the reigns over to someone who can take this forward.
Get on with it or retire Colin.
I'd disagree, Colin is (as he never fails to mention) a miner. He'd love to go out on top of an operational mine with his name on the flag. That said, the one thing he likes more than mining is the money, and he's quite capable of pivoting, look at the JLP move from deep mining platinum to the conroast tech and the direction the business then went in. So I think the running of an operational open pit is very tempting to him, but reality and a large offer may well take his attention.
Ob.
I agree Obidiah. CB always looks for optionality and he now has it. In spades. What we as shareholders want to see is monetization very soon as promised in 2023. Now we have the Luansobe Open Pit license in place, more £ in the bank, and a flying copper price plus a great Copper macro outlook. Getting there.
Interesting moves at Afp. Probably a suckers rally but I live in blind hope much like here 🙄