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This appears to suggest that changes in assets were expected from the start of the deal in May 22 - The Agreement sets out the core principles under which the Joint Venture will be formed subject to satisfactory due diligence, a restructuring of the Company's assets in preparation for the Joint Venture......
There were licences coming up for renewal and due diligence to do meant deal was delayed first time due to Cadastre being closed as checks could not be done, once it opened on 19th Oct, the deal went from needing due dilgence to be done to working on signing docs and opening of the cadastre for new applications fulfilled the restructuring required and Anglo stepping in to keep the licence areas. So Cadastre are sorting out the licences and due diligence wording has been dropped.
See - https://www.dropbox.com/s/4m88yymofft6xre/ARCM%20Licences.jpg?dl=0
The whole thing was owned by Zamsort when it took over licence Kalaba Extension 19906-HQ-PL 100k hectares. Now this was first given in 2014 so by the time ARCM got near it, they had to give up 50%......That 50% became Zaco holding (light blue and green)..... Then approaching 2022 Zamsort gave up what is now Afrimin (white) and lately the Plant area (dark blue).....The remaining Zamsort area was renamed as being Handa (red), it appears to have had some extension to 2024. Afrimin appear to have got Chez West, Jatuma (Central African Resources (CARE) Limited - supposedly should have been next in line when it was given up), Zamsort plant area has Kalaba (Cupriferous Resources Limited - supposedly should have been next in line when it was given up) and Zaco is due for renewal, so it appears Anglo has been allowed to take what is much more than 50% to keep everyone happy (news suggested Zaco was not a new entity and should not have had it), they also encorporate little square for Fwiji (light blue) and rest of Zaco is (green).
Mining Licences - (yellow) is a Handa application that covers parts of Handa mostly, bits of Zaco and a random bit not covered before in (light pink) squiggle.
(dark pink) is 2 random Zaco licence applications
So despite all this shufflng AA are still up for a deal which has not changed in offering even Afrimin area was gone before the deal was struck, clearly discussions have gone on with the ministry as to best way to keep the licences in the deal and if there had been issues then the deal would have been stopped and publically confirmed. The Anglo area that was Zaco has to be to be in Anglos name so it can be brought back into the JV I suspect. Probably been allowed because Zambia are aware that drilling will commence stright away and X will be spent over the next 5 years etc, which is what they want to see and rather that than some 2 bit company with no money able to make a dent in it.
Bottom line deal is active and licences are shuffling/renamed to some plan that all parties are happy to remain in the deal.
The magic words - (but don't know)....but i am going to wildly speculate a lot.
ARCM and you lot live rent free in Bonanza's head..... very vocal about somethign he has no vested interest in. He can be found spouting on AD VFN too.....sad life you waste your energy with so much hate
In March 22 - After an extensive tender process, we are very pleased to award CPC Engineering the Detailed
Engineering Design contract for the Mahenge Graphite Mine. CPC Engineering has the right mix of
experience in designing and building graphite projects in Africa, but has also committed a very
experienced team to work on the FEED contract for Mahenge.
Oct 22 - Construction Management will be undertaken by an integrated team, which will be led by Black
Rock’s Construction Manager and consist of selected Black Rock personnel plus personnel from a
suitably qualified EPCM services company which will also be providing construction management
systems.
The rationale for using an integrated team approach is as follows:
? Promotes a flexible execution philosophy (EPC vs E/P/CM vs Self Perform work-packages)
It looks like they moved away from Chinese involvement and now they have IP on the final design, not sure they will hand over knowedge of CPC design to Chinese even for help inhouse. Think Posco involvement may have driven this.... its all about protectionism..
This guy might be taking a more lead role - Daniel Pantany, GM Engineering & Technical: Civil Engineer with over 22
years experience in mining project development in Africa and Australia
across a broad range of broad range of project delivery roles including
EPCM, EP, and lump sum EPC contracts. His most recent position was with
CPC Engineering including secondment as Project Engineering Manager for
Syrah’s Balama project. BKT’s Study Manager for Mahenge since 2018.
Blackrock have ZERO epcm contract, they actively moved away from thay and is mentioned in their latest info. They had an Aussie company CPC do the final FEED and they announced the mine build would be done internally with outside help...
KOD had already sold its soul to the devil getting a Chinese investor in and gobbled up a fair amount of holding during desperate times in Covid when finding funds was tough. But todays announcement shows what you could have to give away when you rely on a Chinese funder for paying the restaurant bill - https://twitter.com/KodalMinerals/status/1615987048078364675?t=Oxd5ND8huUPunsBYEw5Rtw&s=19
They will take 50% of the project and take shares in Kod itself. On one had that is a fair amount to give up in a lithium booming market but equally they will produce and that is the end goal. They are up 38% on that news despite the dilutive terms. As some of the posters below have said with a level head (as supposed to the twitter spivs telling you it will get to 64p on a home broker note or equal BKT that has 3x the NPV) there will be sacrifice. Accept that it is a real possibility and you eill not be disappointed ypu didn't get the promised land by twitter spivs. Graphite still harder to raise funds than lithium.
expect the worst case and be pleasantly surprised if it better.
Not sure that would affect bank announcements, completion another thing, but the banks in the bag welcome.
They are Australian and the banks won't be Chinese....
This is one of the things you are waiting on - https://blackrockmining.com.au/black-rock-signs-mou-for-grid-power-supply-to-mahenge/?doing_wp_cron=1674090320.3318829536437988281250
All those advantages to promote will be ACPs advantages too, but not all the effort to implement it and deliver it. Once BKT is financed you can then make the assumption that all that benefits this project too and advertise as such.
You do not waste money and time promoting.....waiting... It will be lost in the ether. A 10% up day and 3 down days....etc. Once the project can start to move behind BKT then they'll be singing like a canary.... You waste presentations and interviews on no new material. Get BKT finance out of the way you can then finalise DFS and promote the new figures and move fwd with everything else.
Latest early Feb was BKT prediction for Bank finalising their thing so time is closing in. Could be any day, who knows. Could have been a year ago but it wasn't....Ce la Vie....
This is horrifically conservative of course.....
Can you internally visualise it or must we learn of everything in life YOU find interesting, odd or weird?
I thought you said you were leaving, but nope that didn't happen either, you just keep adding your petty little gripes to the board that no one cares for. Go away and live your life... or Fulmar will continue to live in your head rent free...
I just observed that int he last year some 70 to 80 million 3 p warrants were exercised, hence like climbing through mud to get from 3p to 4p.....those extra shares are being taken off the table for a quick profit, but they clearly decided not to carry that extra risk into the deal. With some warrant holders in large sums already, a quick skim of essentially free money. They have systematically sold this share down from 5.5p, when they were probably takign warrants like candy. Then for the rest of the year every bounce sold again and again, only current buy volume able to over come the overhead. However for those looking to get back in and getting in before the deal, silver lining is that 3p warrant conversions are giving you a liquidity event and a low average entry....
Year End 2020 - MB = 27,612,311
Adding 12.3m CLN shares = 39.9m shares as per Yr end 21
It would seem someone can't add up in Aug 21.....but since when was detail a strong point of ACP.....
However adding a further 7.8 m in Mar 22 does reflect the 8.1% quoted current holding of 47.7m shares... The figure that should have been quoted when querying how much MB and potentially family owns. Show me a list of other AIM companies with Director holdings of at least this quantity. Few and far between no doubt. So we have clarified that MB has sold no shares and that he did not use CLN interest cash to buy warrants and no longer has any benefit from CLNs... infact all CLN interest was converted to shares and sunk into the company so that it did not have to raise funds to pay for the CLN cancellation....all the opposite that some would suggest was and is the case.
Including family interests.... I have to this day not seen that quoted, I looked at 3 other Yr ends just now and 2 didn't have it and 1 had it.....so out of 4 in total in the lat 24hrs it is 50/50 if it is written as such. Whether declared correctly is one thing. If true then that means 'friends' must hold a fair chunk...if again believed.
Are you serious Pumpky? Reading not your strong point either.
More clown posting - 'He had just short of 40m at the end of 2021 including family interests'
Truth - Aug 2021 Matt Bull held 45,521,492 Ordinary Shares.... in March 2022 Matt Bull added 7,852,273 Ordinary Shares comes to a grand total of 53,373,765 shares..... looks very similiar to less than 40m if you are an idiot, but to everyone else just over 53 million
HIS PERSONAL HOLDING.....jeez, directors and TR1s do not report the holdings of anyone else..... comedy central via Amtech
As Mark Twain said....'Never argue with stupid people'......graciously demonstrated by Amtech.
Ladies and Gentlemen,
I give you Amtech.....spreads lies (proof below), constantly spouts libellous comments (just read many of todays posts), when his lies are shown up, he goes back to the only thing he knows best to do, spam the this board that ACP 'thought...presummed' was going to happen imminently....didn't.....welcome to bringing a greenfield mining projects to production 101 folks....£$%^W^ happens.
Fails to agree that what they are waiting for is advantegous and would be chosen as a path by any self respecting company...... but Amtech just doesn't want to be in the red and would rather sacrifice all these positive reasons just so they can break even again.