RE: Mine - Process - Profit27 Apr 2024 14:02
@InvestPest - I for one would be very interested to hear anything you find out about the road. Unfortunately I don't believe that the official CRTM communications are reliable, so any independent information is valuable.
The issue of the suitability of the road was known about since CRTM started, so it is surprising that it's recently become the blocker to any progress. The initial prospectus said -
"Access to the project area is from Lubumbashi City to Malambwe village travelling northwest on the N5 (Kasenga road) on good tarred road, from Malambwe one travels in a NE direction to the Molulu project area which is accessible through “Mama Sifa’s” farm on poor dirt road."
"Although the route to Lubumbashi City is mainly on the N1 tarred road, the last 20km are on a dirt road. Although the Company plans to fund the upgrading of about 12km of this road, until this takes place, there is a risk of difficulties getting to the Project and/or trucking minerals produced from the Project for processing as in the rainy season the dirt roads can become treacherous." .
"Road rehabilitation to commence immediately to provide trucks transporting copper and cobalt ore with a stable access road during the rainy season, which typically runs from October to April;"
"One of the first activities that the Enlarged Group intends to undertake after Re-Admission is rehabilitation of the dirt road leading to the Project. Historically, the road has not been well maintained, which coupled with several rainy seasons, has made the road treacherous. Using a road grader and creating a simple drainage gradient would allow the road to be used in all seasons. The upgraded and improved road would in turn allow for the ore hauling trucks to deliver ore to third-party processing plants in the Lubumbashi or Likasi areas, following expectedly successful oxide mining."
This was all written in 2022.
Funding has also been raised on several occasions - the initial raising in 2022 said $320,000 was to be spent on "capital expenditure including road rehabilitation". There was a raise on 9th Jan 2024 of £215,000, which was to be used for "used for advancing the diamond drilling campaign at Molulu and for the upgrade of the public road to Molulu". Then the latest issue of CLNs on 10th April 2024 to be used for "Improve the public road to Molulu".
It's all very perplexing.