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Regarding our contingent funding agreement. Best part of a month since the first drawdown was available. I presume we have not yet made this drawdown as it would be accompanied by a share issue at the 5 day VWAP.. ..such a share issue by definition is market sensitive so would surely require an RNS?

I am a rather surprised and annoyed that they could remodel the valuation our most advanced asset and not inform shareholders for two years - weren’t they regurgitating the out of date 2022 model during this time. In the meantime they have two cash calls.

Interesting presentation. I do not recall any RNS describing the 2024 block model re-evaluation of Luansobe. This model combines op and intermediate in single resource and surely changes the valuation.

Thanks Wwt, JL and Bup ..makes sense. Hopefully we will hear from GLR within the next month that they have fulfilled their terms and earned the 23% of Molefe mine as defined by Bup. Phase 2 drilling expansion does sound promising for another agreement

Bit confused about the scope of the GLR/JLP collaboration agreement. As I understand the 23% earn in applies to the current Molefe district and the drilling must be completed by July 28th. RNS states phase 2 drilling extends to greater Molefe and results due Q4 ..is JLP phase 2 drilling beyond the GLR agreement scope?

Molefe has a lot of potential but for Gzl monetisation wise it is next year stuff. Luandobe status please ?

Yes JL I wasn’t meaning to suggest GLR were sharing these increasing costs. However these costs need recovering by JLP before GLR shares profit so the increasing costs push back the timeline for GLR income.

With JLP costs soaring it will be a while before we derive income from the current agreement. Likewise Ferber ..drilling has yet to start I believe. Seems Luansobe is our only path to avoid further dilution. How far Has the dashed hope of Feb agreement put us back? The Co needs to update us pronto

C’mon GLR do something to support this share price

Nobody knows until the company updates us. What we do know is that the hope to finalise deal by Feb fell through.

It wasn’t an observation..it was unsubstantiated claim, completely childish and exactly what you had pontificated against shorty before.

WWT..

“ Looks like Iky dumped his 1m shares and has gone all in on Prem”

Non substantiated, childish dig….just trying to bait the guy.

“Childish banter and insults degrade this board..”

Puzzled why you would post this then follow with childish insults??

The problem is that barring some assay results from

Last years drill , notification of drilling targets on Ferber for later this year we have had no update on Luansobe or the other marvellous assets since early December. All we have had is more dilution. This lack of comms is damaging to the Company. Share price is bouncing off support at 0.7 p ..very slippery slope if this is breached, but this is often the trajectory and plan of aim companies..rob the the long loyal PI’s by share handouts

Never mind Molefe for now. Luansobe OP has considerably more value. Nett value increases because the Cu price increases on the receipt side but the costs (cut off) are fixed cu price wise at

We need an update on Luansobe ! Molefe income will likely be next year at earliest.

A seriously good quote from MM…

“ Have you ever considered a sale of a non core asset will be much better than dilution as interests in all other projects are not diluted.”

Selling one asset at sub optimal price to provide working capital is plain simple arithmetic. We have 9+ of them ffs. The company did this successfully with Sandfire previously ..an action saluted even by Chrisp.

To be fair the 0.2 to O.4 p is based only on annual revenue. If this was our nett income per year it is worth a lot more on the share price based on a P/E valuation. Even a modest P/E of say 4 would quadruple this additional share price.

At the moment we are held back by uncertainty when this income will stream and the potential dilution if Luansobe or some other asset does not monetise if we become cash strapped before Molefe delivers.

When a company is repeatedly failing to deliver shareholders could cut their losses or try to influence those managing the shareholders assets. The board needs more full time technical staff. A dedicated project manager would be a good addition and a full time focussed CEO would be a game changer to advance shareholder value and sentiment.

Spot on Levi !

We can gush as much as we want about our assets, sing Kimbya followed by sticking our heads up a lower orifice but as JL highlights the PR is atrocious and this is what drives sentiment