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🤷
Yes Pi, continued silence.
However, there is a "1" trade in there today for those who believe in RNS witchcraft.....
We desperately need some positive formal news.
GLA
Closer to what nothings been said.
Another week closer !
And another week rolls by 😴
Greenwolf - I accept what you say appears to be the case as we haven't been informed any differently. So frustrating that the nomad felt the need to issue that last RNS, which one has to say was misleading following the QGC publication re Kabwe being shown as an asset of Shuka.
Just have to wait and see and pray we don't have to wait another month.
Clues mean nothing at all, until we get that rns stating we have something we have nothing end of.
The clues are out there, check out the marketing prospectus for the F9 ETF
SP7 - I respect your sentiments.
But burn rate figures are the facts that we currently have, including from previous annual and interim reports that cover our rainy period. The BoD dont need to wait for the Annual Results at the end of June to give us tangible updates on our finances......
If there was absolutely no interest in Rukwa they should have ditched operations last summer, offloaded associated assets and then turned us into a shell, with a bucket load of money. Given the rainy season runs pretty much October to April, it would have actually made commercial sense.
That is not what has transpired, so Rukwa remains a cash burning millstone around our financial neck. Indeed the last RNS stated "Upendo shall shortly have their representative join the board as one of six directors of the local subsidiary and there is optimism that this will assist the development and progression of the Company's prospects at Rukwa" - that doesnt support a view that they are not interested in the coal mining operation and trying to turn it around as a going concern..
I dont work on rumours or conjecture and, to be honest, what's gone on recently around X posts, potentially false RNSs etc, we need a bit more professionalism and confidence from our BoD about what are the real facts.
And, as I mentioned, the RNS from 18 March suggests Rukwa is an integral part of the future - they need to clarify that because we've never made it work since October 2017.
This has the whiff of turning into another false dawn and only the right RNS will change that.
greenwolf - i don't for one minute expect the company to have been continuing to spend £120k per month because as i understand it, they are not interested in doing anything more with rukwa's coal mine, despite the agreement with upendo.
i say that because qgc and gmi invested in order to acquire a new battery metal asset, and *****on van der burgh knows that there is no point in wasting money on the coal asset, particularly seeing the mess that the previous management presided over, and from that history, you can see that no one was interested in taking the company's coal.
therefore, and with qgc's financial strength, as shown with marula, i am frustrated by the delay, but not particularly concerned about the kabwe licence purchase arrangements being adverse to shareholders.
SP7 - I'm hoping we do finally get a silver lining in the cloud....
But, as I keep saying, time is not on our side and another month is swiftly coming to an end.
And the debacle recently around possible acquisitions, rumours, Nomad intervention, removal of presentations etc doesnt actually build market confidence, as it looks unprofessional.
Whatever anyone says on here we are burning cash every single day, which diminishes our pot of gold to reinvest and diversify.
We raised c£1.5m in June last year - at £120k per month burn rate (from our interims), it's reasonably straightforward to work out what's left.
A good opportunity presents itself for topping up for some as some selling drops the price.
Don't know when the visit to Zambia will take place, but hopefully (I know I have said this before!!) next week or the following week.
As shown by the QGC corporate presentation, which as you say has been removed, the asset being acquired would seem to be the Kabwe zinc mine. Why otherwise, include it in the presentation?
Stay patient is my message.
I posted the below on the 15th March. I still stick by it, I still believe it to be a Zambian copper company.
Jason Brewer states in the (now deleted video) re: the acquisition that Marc Nully has lots of experience in the commodity in that region.
https://x.com/Shukaminerals_/status/1768581063155089490?s=20
Look at the Board Change RNS Nov 2023
Mr. Marc Nally is an experienced geologist and exploration manager with over 25 years of experience in mining and mineral exploration in Africa, South America and Europe.
Most recently Mr. Nally was a Non-Executive Director and consulting exploration geologist of AQSE-listed Marula Mining plc where he was involved in the acquisition of several advanced mining projects throughout Africa and consulting exploration geologist to AIM-listed Tertiary Minerals plc with a particular focus on project generation in ZAMBIA.
Mr. Nally was a founding Director and former Managing Director of Moxico Resources plc, a private operating, development and exploration mining company that recently commenced COPPER mining operations at its Mimbula Copper Mine in ZAMBIA. He was instrumental in identifying and negotiating the acquisition of the Mimbula COPPER Mine (which is located in ZAMBIA) and the purchase of the Kalengwa COPPER Mine. (which is located in ZAMBIA)
Additionally, Mr. Nally has been involved in various exploration projects and start-up mines in multiple countries, including Russia, Spain, Finland, Republic of Congo, Ethiopia, Indonesia, ZAMBIA and South Africa.
I'm gonna stick my neck out and say they are going to be buying a Zambian copper company. Game on folks
Could if maybe.
Could it be that news on a new project is almost with us? The clues are all there as to the project, it's just a matter of timing now.