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Cmon let’s face it. Our mate Colin is at that time of life where’s he’s gunna go out with a big bang to secure his friends, his patient lths families future.
He’s getting the ducks aligned then wallop and I’m retiring.
Take your time Colin as I know you’re gunna show the nay sayers, doubters and bitter ones and make your final exit.
I think colin knows to dig deeper for luansobe, he said it a few interviews ago when Kobold announced their discovery at depth, there could be alot more there than we know )
P.S I have assumed a 87% recovery rate when calculating some of the contained metal values.
The numbers are interesting Chris. Bezant, across 4 Open pits - 1. Hope, 2. Gorob, 3. Vendome, 4. Anomaly, there is approx 24,600 tonnes contained Cu metal. Contrast with GLR which has 58,000 contained Cu metal across a single open pit. I would suggest it is easier to mine a single open pit than 4 open pit mines - the chances of all of them running simultaneoulsy would be very low, and there would be a lot less coordination and replication of onside kit as an example. The contained open pit copper metal in luansobe is 135% higher than the Bezant Open Pit. In addition there is the additional 6.3mt Cu inferred which CB has previously stated might be amenable to ramping down into that area. Until we see the mining plan we cannot know for sure. The big prize which CB is pursuing is the 60-70 mt of ore previously mentioned in various documents. If it is there - and it is, after all between Mufilira Mopani Mine and Kobolds massive discovery, then that is likely to be a world class orebody e.g. 60mt @ 2% which is 1.2m contained and at $10k average over that LOM would be $10.4bn for that element alone. The question then becomes how do you value it for sale.
In terms of the Luansobe Open Pit on its own (ignoring the 6.3mt subject to seeing a mining plan) @1.5% Cu grade that gives us 94,500 tonnes of contained metal with a value of $0.8bn in the ground.
Big numbers. The key point for me is Bezant is gearing up towards mining - subject no doubt to the mining license approval. Compared with Luansobe which has the first small scale mining license already approved, GLR is gunning for a second small scale mining license on the same site, and has potential blue sky of 60-70mt. I Expect CB is weighing up going it alone, verses the Chinese processing facility now taking the majority of the risk, doing the mining, hauling, and processing with some larger monthly kick back to GLR, while he pursues the big prize of a world class orebody on the same license. Then there is shinganda and the Western Foreland from a copper perspective.
The hourglass has run down to this point. Decision time.
The ARCM PL135 license is adjacent to the Sandfire LIcense PL367/2018 - which was acquired from Galileo and on which there is a (across the acquired licenses) potential $80m bonus on a sliding scale.
https://galileoresources.com/investors/rns/kalahari-copper-belt-exploration-update/ with last update ' PL367/2018 – Four multi-element soil anomalies identified as priority targets with infill TerraleachTM soil surveys planned.'
ARCM is in a good position and runs paralell to Galileo's PL039 - "The north-eastern section of the Licence is dominated by a prominent NNW-SSE trending conductor, the geometry of which suggests this area is situated at the southwest end of a conductive dome. If the interpretation is correct, the potential exists for the discovery of the highly prospective D’Kar Formation/Ngwako Pan Formation contact. The setting of a conductive dome with major faulting within the Licence suggests that a A4/T3 style dome drill target with possible mineralisation "
I have been expecting PL039 to be sold off - given the recent successes nearby.
The turnover of the copper from the Luansobe open pit is $50 million for 10 years at current copper prices. That alone should value GLR above $50 million.
Open pit wise Luansobe as twice the copper of BZT's HG and AFP's Ongombo put together.
KcB! Bloody predictive
Drills commencing on their JCB licences which will hopefully give good results, and in turn increase the price of our own licences. It's great in a way that every other company is doing all the hard work with the result being our licences improve in value with every good find.
All ready to be nicely sold off at a huge premium.
Interesting numbers for bezant. I think GLR’s open pit is more lucrative given tonnage, grade, cut off and lom than bezants open pit element. Bezant will be mined. Glr already has an open pit mining license with a second on the license in application pending and also plenty of further blue sky - potentially a world class ore body. I’d like to see the open pit mining decision made. Time to get off the pot.
I just got round to listening to yesterdays BZT podcast. Not much about BZT but I thought positive for GLR and XTR. I wasn't expecting drilling in NW Zambia this year so that is a positive. October could be interesting .........
We're close flipper, if he closes the deal for luansobe for processing and mining in one go then it's done, but we are still in negotiations, but imo it's coming at some point.
I always wondered why Colin never went to Oz for licences, maybe he did on another company idk
Colin pushes bzt to one side and pulls the glr paperwork in front of him …
Shouldn't todays RNS for BZT have been for Luansobe ?. Luansobe has the mining license !.
Probably another podcast
....birdie seems busy over at bzt with another rns this morning. I wonder 🤔 what he has for us lot here.
Funny how every time Colin opens his mouth the shareprice stagnates or falls
Interesting that the offtaker might be the miner as well. Maybe the deal overall would be better than independent processor and independent miner/haulier.
Talks with a processor for processing and possible mining the asset, could be sooner than we think, the processor mining it for us is new )
Does that mean nothing worth reporting has happened on our non-Luansobe assets in the last 3 months?
And the sp is down again... what a joke.
Ana I liked that CB is after the deeps which could contain 1 to 1.3 million tonnes of contained copper up to $13 billion of copper.