Member Info for andmillsy

Live youtube from the event. You can rewind to see AA and Rio CEO's speak if interested.
https://www.youtube.com/watch?v=uPDdn0XL-L8

The new guy?
https://www.linkedin.com/in/charles-long-4382212b?originalSubdomain=uk
Think this might be him.

Hard to find much info. He appears to be known as Charlie on the Audere website as referenced in the RNS https://www.auderesolutions.com/people

He has done a number of interviews / podcasts in the role of analyst from time at Beaufort which can be found on audioboom.com and search for Charlie Long - I haven't taken time to listen yet

Very different CEO imho

I know I have said this before but surely given Uranium global shortage we are a screaming takeover target

Indeed CMRS a big surprise.
Martin stepping down and CMRS starting to focus on Africa "acquisitions focused on the country 'arc' of Namibia, Botswana and Zambia"

I would have expected to have received an update by now on the MIMDAS survey. I'd like to have other news but this one for me had a fairly clear expectation of dates. What was stated in the 28 Feb RNS created this expectation:
"The survey is expected to take four weeks to complete, with extra time anticipated for analysis and interpretation of the results - As results come in, Xtract will be provided with an interim analysis which will continue to assist with targeting"
This was reinforced in the interview after this RNS https://audioboom.com/posts/8039136-traders-cafe-with-zak-mir-colin-bird-executive-chairman-bezant-resources (please ignore reference to Bezant in the webpage - it is XTR)

As a minimum would have expected a completion statement for MIMDAS by now given we received a commencement statement. Of more value would be an updated drill plan informed by the survey.

In addition to this the market is probably waiting news which may now be considered overdue for example:
1. Africa gold alluvials and hardrock production and income which based on recent quarters could reasonably have been expected to land in April given the prior 2 quarters were reported within 3 weeks of quarter end. Hardrock income was reported for Q4 so the process to collect all relevant data shouldn't really be taking them longer.
2. Assay results from BR - none in April but 3 assay RNS in March and 2 assay RNS in Feb
3. If the rig is still drilling at BR then further drill completion RNS could have been expected since 6 April RNS

I would like to think that Colin is busy creating a coherent and optimised news flow or that the team are so busy on decision to mine and proving up 2mt that publication of news is delayed possibly due to confidentiality agreements. Hence I am sitting tight and trying to remain patient.

Many other investors will just perceive delays, assume delays may be bad news and react accordingly hence the drift in SP.

Ella regarding your post a few weeks ago on Quinton Hills presenting at Mines and Wines - he isn't showing as a presenter any longer ... intriguing.

"This event next month has QH presenting the rediscovery of Bushranger. I believe the Mines and Wines event was originally planned for late 2021 and presumably includes same material as originally planned. Each presentation is only 25mins.
One of the presenters for Newcrest is Cameron Switzer. He is their Regional Exploration Manager Asia Pacific. It also appears that he worked for Straits Resources during the period that they were exploring the area. Newcrest's Chief Geoscientist is also presenting.
It might be interesting to be a fly on the wall for any conversations between the three of them.
https://minesandwines.com.au/papers-2022.php"

It was a very strong RNS indeed.
CMRS o strongly.... not the same here

Interesting Mr T
New(ish) director for this entity is Evan Kirby who is also Tech Director at Jubliee. He also has connection with David Cornell who is involved in Mankayan potential ASX listing.
Might be reading too much into it but he has a recommendation from the group metallurgist from Lundin. Yep - Lundin who bought Josemarie for $485m last year which is in Argentina where Lundin have a big presence....
https://www.linkedin.com/in/evan-kirby-13730615/?originalSubdomain=au

Thanks Ella - the other interpretation is that this CNT step relates to decision to mine and it may not be related to further exploration activities within the existing licence. It appears the NT bar is lower for exploration than for mining e.g. you can have a low impact licence - referenced here https://www.regional.nsw.gov.au/meg/exploring-and-mining/native-title

The CNT application being related to a (potential) mining application would be consistent with what I am seeing in the NSW TMS system where there appear to be no other CNT activities for other exploration licences but only appearing for mining licences.

I am intrigued / frustrated however about the lack of confirmation of new drill permits so your theory may be valid.

EL5574 as mentioned yesterday has an open application against it with case id CNT89.

After some digging around in the NSW TMS system I've not found any other exploration licences which have applications against them, open or completed, with a CNT type case id.  Its a manual process to check as you can't search by case id starting with CNT.

There are plenty of examples of Mining Licences with resolved CNT case ids against them.  

This may relate to Certificate of Native Title - providing proof that Native Title has been extinguished to support a mining application which is a requirement of the Mining Act.

Looking at Minview and enabling all Native Title layers hopefully this is a formality but an important step towards decision to mine.
https://drive.google.com/file/d/14IuMj19YNBXD8e-ICTqfo8sw1pa4FfkV/view?usp=sharing

Background Information:
Mining application form - section 11 regarding Native Title:
https://drive.google.com/file/d/1s4wQnq9wn5K7sHdlw74Xe8YQiyAGUYIG/view?usp=sharing
Requirement in the Mining Act for a Mining Licence Application to provide evidence that  "The Minister must not grant a mining lease unless satisfied that, either native title has been extinguished over the entire application area, or that either the  ‘Right to Negotiate’ process, or an applicable alternate regime under the Native Title Act 1993 (Cth), has been completed. You should provide proof that native title has been extinguished. If native title has not been extinguished, you will need to undertake the ‘Right to Negotiate’ or alternative applicable process before a lease can be granted.

Yes and worth the time

I am not sure what to make of this.
https://drive.google.com/file/d/1N1WBBSBQnQ1utLnSt_4h9qqK5zNJmp0F/view?usp=sharing
It is a screenprint of a new activity / application which has appeared on NSW Titles Management System for EL5574.

I haven't looked at this portal since the last application on EL5574 changed to Resolved / Completed - a few weeks ago. It seemed reasonable to assume, given the timing, this was the application and permission for new drill locations etc but as we know there hasn't yet been a RNS with a drill plan issued to confirm this.

This new application has a resolution date of 23 May but the last one ran a month late on approvals.

I think the case id CNT indicates the type of application e.g case id starting CTM is Change of Technical Manager and CAG is change of Agent. However there isn't a glossary defining case id reference so I can't decipher the meaning of CNT.

Iwantthatone I agree with your comment on the categories for Josemarie. I was trying to make that comment in my "proven resource" comment but your terminology is more precise.
Fingers crossed for the best possible outcome and a great negotiation by Colin.

It appears the Kendrick Resources website has gone off line.
Here is the London Stock Exchange year end filing history and the year end report, which is still quite current, was filed on 9 July. Link below was the more recent interim financial statement.
Clearly there has been a lot of recent filings ...
https://find-and-update.company-information.service.gov.uk/company/02401127/filing-history

Colin involved here and I understand IPO just completed apparently. Listing due soon.
http://www.kendrickresources.com/documents/2022%2002%2014%20Kendrick%20Interims%2030%20Jun%202021%20final%20signed.pdf

Interesting the seller of the Scandinavian resources referenced in the interim report is ASX listed Pursuit and their technical director is Jeremy Read (Bushranger in Oz)
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02332108-6A1016147?access_token=83ff96335c2d45a094df02a206a39ff4

With you on that Mojo here are some thoughts on BZT from while away last week
.I have to say that I think there is substantial upside which can be realised on the share price. The main drivers for me in order are
(1) Mankayan and sellling our stake
2) Hope Gorab
3) Manganese
4) Caerus
Others likely have different view of order my main drivers were perceived time to revenue balanced with cost and timescale to achieve
Clearly 2, 3 and 4 need funding

To avoid dilution, even loan results ultimately in dilution, we need to sell Mankayan stake.

I would like to think that might have been something Colin has been trying to achieve while in Oz but I have no certainty of this.
I think the fear of dilution is holding back the SP and the fact that timescales aren't clear. No one really wants to tie up their capital in AIM company for too long hence nervousness for new investors holding back SP.
Prickly it would be great to get any insight from Colin in interview how he sees order of priorities and why in that order.
Also if you could explore scenarios to realise value from Mank with timescales and potential outcomes

Today's RNS seems positive but how to pay for it...

Ignore that it is there - my RNS feed not working !

https://www.londonstockexchange.com/news-article/CMRS/cyprus-joint-venture-update/15426632

CRK and Steve
The following context may help on Josemarie buyout - some notes I had made earlier when I reviewed the technical report

1. Josemarie is 3.5Mt Cu Eq and relatively gold rich. (7751 mmlbs CuEq with gold 0.22g/t)
2. Josemarie sold for 30+% of NPV ($485M sale price v NPV $1.5bn)
3. Metal prices used for NPV now appear low as the report was written in late 2020 it assumed Copper $3/lb, Gold $1500/oz, Sliver $18/oz.
4. Sensitivity analysis provided in the technical report shows that increasing metal prices by 20% gives NPV of $2.9bn versus $1.5bn.
5. The buyout by Lundin of Josemarie is described as being a buyout of a sister company as Lundin family already had shares in Josemarie. The NPV buyout percentage was perceived by financial commentators as a good deal for the acquirer - Lundin - perhaps considering the low assumed metals price.

Factors which may influence an NPV based buyout of Bushranger versus the percentage achieved for Josemarie
1. 5 years up front capital spend with no revenue at JM.
2. Challenging geopolitical environment at JM - risk factor
3. Challenging inflation, exchange rate at JM - risk factor
4. Seismically active area with resources at high altitude, 7 hours from nearest city and average temperate -1.9C at JM
5. JM has (likely) greater level of proven resources than BR and total resource size at JM is 3.5Mt

https://audioboom.com/posts/8072935-traders-cafe-with-zak-mir-colin-bird-executive-chairman-galileo-resources