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that % split would will be interesting. i would expect 60% glr, 40% contractors doing all the capex. that gives us serious $$ over 10 years - possibly 15 years+ with the mine ramping down into the slightly deeper asset. at the same time, drilling out the deeps also on that site next door to mopani opens up a whole new chunk of copper - 70mt ore at 2%+ ? shinganda (iocg) and nw foreland obviously benefits - two assets for sale/jv once and only when significant value is added in by the drill bit. ka****u zinc - a huge amount of money in the ground there, hopefully the locals etc. can agree a deal to get it out. let's talk dividends :-)
Agreed Ana we use a contractor and they take a large percentage but we retain ownership.
What's interesting to me Chris is Martin stated on several occasions they were looking at JV or Scheme of Arrangement, or other mechanism which indicated or implied that the ££ hurdle for what they wanted for the open pit had been reached. On the one hand a sale would be good - the question is how much would we get - compared to how much we could get from mining it e.g. Would 2-3 years mining it ourselves give us what we would have got in a sale - as an example. In terms of using contractors we must not go down the route of Star Zinc and selling it and getting a royalty. We must retain ownership in a situation where we are utilizing contractors to do the heavy lifting. At the end of the day, the asset is king, and we can swap contractors out. Either way I believe the asset is 'in play', and expect plans to come forward once the execs have received confirmation from the ministry, and no doubt some legal stamp from their own lawyers. Belt and braces. Then there is the underground and the deeps cherries on the top. Great position to be in.
We still need to prove up all our copper assets while the price of copper is high. Only Kamativi could be put on the back burner while Lithium prices return. I would still have sold Luansobe but we might have not had good enough offers. The Luansobe asset I suspect will be farmed out to a contractor and we get a percentage
I just want the main focus now to be on Luansobe, get that up n running smoothly and then really smash out the drilling on all fronts, a huge re-rate from the mining income and nice bounces from the drill campaigns, super charge drilling luansobe so it's fully prepped for sale
Colin has effectively nearly 9% of this one , a very good reason for him to make it sing with projects rather more advanced than his other cos - if he wants a big win on the next 9 months then GLR is the place
(Barring first quantum hitting the copper motherlode for AFP in the NW)
Drill ready targets identified, drilling campaign postponed from September last year, US$2300 gold price.
… RNS by EOP next Friday and it’ll shake off the ones selling on the rise for a quick ten percent . Adios Amigos.
Not sure of what the RNS will contain but feeling it’s going to be juicy for the lth and possibly not what were expecting.
Despite a few wobbly moments in his career I’m convinced Big Col has his finger on the pulse with GLR and knows it. Who dares wins Colin, aye 👍
I'm with you on that one Agent. There has been many exploration licenses granted and no RNS, also cash injection into the company, no RNS. This time the commitment to RNSs on both fronts.
A statement of intent and reflection of the directors attitude this season for GLR. Big things ahead and shareholders kept up to speed
GLR sitting good now. Cashed up, de risked for investors and enabled for the projects in the pipeline. License soon to be RNSd. This should be sitting attractive to the market now
Could be next. Drilling the 'wedge shaped' anomaly/mineralisation which runs parallel to the Shinganda Fault Splay now the coffers have been replenished.
I must admit, well done Colin for posting a RNS about the sale of Glenover today. Much appreciated. We can now look forward to progressing our other projects with a much stronger hand without the need to sell low to keep the lights on or issue a rights issue. Again, well done.
I have my fingers crossed for more good news soon regarding the open pit. GLA
As a holder of other CB shares I must admit GLR looks the best positioned . The 370 k shares in Sandfire ( i think this right qty) are even producing a small dividend . Onwards and upwards please.
I agree WWT.
Looking forward is now the much better and more rational option - things are slotting into place for GLR. I expect a PR push once the RNS around the mining license issued - even though it is approved in the MLC 79th Results, shown fully as an active license on the Cadastre etc.
I also hear that the roast guys were with the Cooper Lemon guys today. And CB will be having a discussion with 'the hive' telegram group in a few weeks time.
GLR has no debt, it has ample funding for the next year or more, it has Joint Ventures, shares in SFR, licences in the Kalahari and now a 10 year licence to mine Luansobe ... the list goes on.
Comparing GLR with other companies associated with CB whilst failing to compare assets and financial standing is disingenuous.
3CB, I'm with you.
I recognise and applaud CB for Kiwara, great success.
There have been failures along the way as well, the least said about BMR the better and there have been projects which didn't turn out exactly as promised!
Out of all CB's public companies there is only one where todays share price is higher than one year ago and that is TIR and I don't think they do much mining!
Yes, we all want to make money and hope that CB is more than a one hit wonder, but a touch of realism is reasonable. Read some of his other company's boards, hardly over flowing with joy and comfort.
I've said before and will continue to say, CB is too thinly spread, multiple companies, multiple projects in those companies over multiple continents.
Let's hope for a good succession plan.
P.S It's a 10 year mining license valid until 23/04/2034. Then renewable as is the standard process.
I am very depressed today as we received 2.1 million ... is that ok for you 3cardbag ?
3CB, Kiwara is mentioned by CB because it was an exceptional achievement - rarely matched on AIM/ASX/TSX juniors. Jubilee was set up by CB. He also named FQ. IF he can repeat any of that success here then the market cap will respond accordingly. We now have a mining license, more cash, liquid investments, an investment from Sandffire, and fantastic acreage in Zambia, Kalahari and Zimbabwe.
Chief Ramper.
Wow. When did you become the post police?
Well if its not you as Texaschaser they sure have the same mindset and post very similar posts ... go take a look.
As for the rest of it ... yawn
WWT. just for the record, I have never even looked on ADVN much less posted in a different name.
You're completely missing my point in which my previous post was a counter to the usual "here it goes, there she blows" posts about the sp, when in reality, it jumps up a bit on news, partly due to MM spread, then sinks back again.
Only a big sale or commencement of mining will see a meaningful re-rate in sp and it's all down to the lack of trust in Bird due to previous habit of overpromising and under performing. Once again we hear him boasting on Sunday Roast about his only meaningful achievement 15 years ago.
Until it happens I will remain a hopeful sceptic and continue to call out the usual suspects when they ramp.
One day ...................
Yep ☹
Same old story... 😴