African Pionee. Share Price (AFP)

The lack of information about drills carried out by FQ in MAY ! is ridiculous. Honestly I just think this company is just not on CBs radar at all for now as he's busy at BZT and TIR just now. That's zero excuse for no update though.

One crumb of hope is that BZT awaits final paperwork and a financing package to get Hope and Gorob into production in 2025. There has been discussion previously how that could be tied into Ngombo so that might end up moving forward at the same time.

But the FQ licenses? no one has a clue

I could be totally wrong, probably, but we seem to have dropped off FQ's radar altogether. I noted they are carrying out drilling activity with someone else in the area (can't remember who it was now TYM(?)) but nothing done here in a year.

I'm beginning to think I backed the wrong horse for Zambian Copper, based on the fact they'd already landed a JV partner.

Suspicions backed-up given the utter zero comms from AFP BoD.

Thanks for the post Analytical. It bests the pitfiful levels of communications from the company by some degree.

Cardo's question is the right one. Whilst anything could have happened one clue we have is the current interest in our partners other Zambian holdings from Manara Minerals.

Looking at this deal the Saudi's appear to be interested in a minority stake in the Zambian copper assets of FQ.

https://www.youtube.com/watch?v=HTGdzYg8rrs&t=4s

Our partner is in a tricky situation due to the shut down of Cobre

https://globalflowcontrol.com/newsroom/first-quantum-engages-in-partnership-discussions-for-key-zambian-assets/

My conclusion and it may be way off so DYOR is that we are not the top priority for FQ, however a recapitalised FQ with a partner like Manara which is interested in copper exploration could nonetheless be a positive for holders here.

Defering the decision on the licence renewals until after a deal is concluded with our partners might be the reason for a lack of news here and for the continued silence from our BOD.

Indeed a deferral would seem a logical step under the circumstances.

Perhaps this is wishful thinking on my part and admittedly it is little more than guesswork but it wouldn't be our place to speak out of turn when we are the most junior partner in this set up.

GLA.

And the implication is?

Zambian License https://www.mmmd.gov.zm/?p=3780

27768-HQ-LEL African Pioneer Zambia Limited Ag, Au, Co, Cu, Ni 18042.4464 ha North Western, Mwinilunga Deferred 23rd JANUARY, 2025

27769-HQ-LEL African Pioneer Chongwe Limited Au, Bi, Cu, Ni, Pt 21277.9047 ha Lusaka, Chongwe, Kafue

Rejected 23rd JANUARY, 2025

27770-HQ-LEL African Pioneer Zambia Limited Ag, Co, Cu, Fe, LST, Mn, Ni, Pb, Zn 38427.7263 ha North Western, Mwinilunga

Deferred 23rd JANUARY, 2025

27771-HQ-LEL African Pioneer Zambia Limited Au, Co, Cu, Ni 44295.7795 ha North Western, Mwinilunga

Deferred 23rd JANUARY, 2025

27767-HQ-LEL African Pioneer Zambia Limited Ag, Au, Co, Cu, Ni 16213.6379 ha North Western, Mwinilunga Deferred 23rd JANUARY, 2025