Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
AA will do more airborne at their expense? AA expertise on site cannot be elaborated on, but within their team we know of the experience specific to Zambia and neighbouring discoveries.
Kalaba plant - no real appetite to process copper and looking at leasing it out to a 3rd party which makes more sense where ARC take a royalty. Small scale production from CE depends on economics of scoping study. All mineralisation is in saprolites so no drilling or blasting and will be cheap and whether the board has the appetite.
MRE is led by market need and will result in a small resource as haven't drilled enough - not in game of ticking boxes which improve attractiveness to majors - would rather drill out a massive zone quicker.
We are funded until next year from raise in May. Next year onward getting cash from CASA which will more than likely increase if deal renegotiated. No placing scenario this year even with COVID. Get extra cash if needed from warrants.
CONF CALL SUMMARY:
not here to make the majors wealthy
other majors than AA looking at ARC and creates competitive tension
On slip way to something very very big. Don't have personnel or capital to take it into production, although not ruling it out if that's the better options for shareholder return. NvS has seen it done before in Indonesia. Current strategy is to drive shareholder value and quickest option is a sale as opposed to years of path to development.
have had subsequent approaches since. there will be more competition as and when things open up. not putting up the white flag and saying highest bidder takes it now.
drilled 3 holes on fwiji and have early indications of copper mineralsation - everything weve drilled weve hit mineralisation. if results match previous campaigns that will be another big tick in the box. Vassilli is very excited and still need more holes for a better picture and aiming for another significant discovery. Results released over the next few weeks but depends on SGS hold up from COVID-19. Zambia not hid badly but some recent breakouts in Lusaka.
each prospect on its own could be a company maker. extremely confident that sitting on multiple tier 1 targets. NvS is more confident than he has ever been. A different ball game now. Unheard of to have this number of targets in such a small area. Have too many and don't have resources to attack them all and drill deep
approached by medium-large London institutions
CE follow up work = met test work (not typical mineralisation) to feed into existing grade model to reveal how much copper is in situ, which will in turn feed into a scoping study
May deploy further rigs at CE and Muswema
1 week to 10 days for an update on geological model on Muswema. Significant sulphides in hole 5 and some copper mineralisation at the end of the hole. but suggesting that they need to look again but to the south west
wide range of take out expectations - trying to find multiple deposits. A lot of upside if we do things correctly OVER THE NEXT FEW MONTHS - listen to Indaba Battlefield presentation by Remy for a better flavour :-)
Casa sales with deferred payments - potential options remain as we have security over the underlying shares. Discussions with a third party which may open a much improved and revised transaction in our favour - early days but higher gold prices has eeked out more interest and in discussions with them but cant say anything at the moment, and looking for more upfront cash resources ($45m royalty is back ended so looking for more cash upfront). Want to be a pure play copper company but every extra $ helps.
Expect next payment on Sturec in August and they're already drilling there.
West Lunga - 2 holes drilled but didn't intersect the signature expected so requires more work.
AA will do more airborne at their expense? AA expertise on site cannot be elaborated on, but within their team we know of the experience specific to Zambi
Muswema results won't be released until they're received in full from SGS. Approx 40% are still outstanding due to covid shutdown. Assays on initial holes of the current campaign will not be turned around in the same timeframe as last campaign due to covid backlog.
Mali on the whole is far from safe https://httpsahel-elite.com
Bouguoni is relatively safe.
Tanzania is safe unless you're an albino.
I agree with you on Vox guff, but not where AK's spoken word is concerned.
I will bow to your drilling knowledge, but to me, AK's words "drill out" could be inferred as deepening the existing Amdigh well.
The plan of attack was to drill the wells and then return to complete them and put them on production on that return visit. No well integrity concerns were included in the Amdigh discovery RNS so i'm assuming they wont be drilling a new well as a producer for the EPS.
phnom.....they WILL go back to Amdigh
Vox mkts podcast 8th Aug 2018 from 07:50
AK: There is another very strong prospect which we'd like to drill called Zomo-1, and then i think you can assume that there is additional upside on the Amdigh discovery which we'd like to drill out, test and also put in preparation for production"
;-)
Based on the choice of language in BA's stocktube piece on 22 Aug, and the sharemag event on Wed night, I think we'll almost certainly see the JORC on Wed morning, allowing you your champagne breakfast with the other retirees on Thursday mor😁
26/7 AGM Statement
The lithium licences held in Mali and Niger are located in Bougouni, a region which is rapidly emerging as a premier lithium belt. Initial results have been encouraging. Most recently, the latest stage of drilling has concluded in Niger with samples to be sent shortly and we are expecting assay results from Mali, that were sent to be assayed as a single batch, before the end of August.