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We all agree there are lots of opportunities but we tend to disagree on the timelines for monetisation and realisation for the SP

We should surely hear about Shinganda and WF drill results in the next few weeks…hopefully another ramptastic update from CB but doubt it will shift the SP above the recent ceiling. We need Luanaobe monetised for that and I suspect all we will get is “progressing” news for this year. Hope I am wrong.

…and it is almost 6 months since the second license was issued

Unexpected?

Yes..8 months gone since the luansobe op license was issued

We’ll see..I said 7 million , you said 15 million net to GLR if we outsource OP.. The other difference between us is that I openly admit when I am wrong. Which were the 2 sales you expected last year? LOL

Blimey..not even a copper price pump...

Yes likely a short term issue, there is a lot of interest and commitment by Zambia to increase production and surely longer term they will make electricity supply more robust to drought. Only concern is whether it will impact our ability to bring an oven ready Luansobe into production (if this option is followed) within the next 18 months in that it may create bottlenecks in the processing chain.

Great find.. thanks

The drought in Zambia was a big issue last year, in particular the hydroelectric power generation for the mining industry? I know the forecast late last year was for improve rainfall this season due to the anticipate easing of the El Nino but we are well into the season now - is anyone aware of whether rainfall is back to some normality?

Pipeline and contract renegotiation will unlock the FDP. In addition though we still plan to have another pop at the Triassic. Valuable exploration upside - Expensive drill but high quality oil to add to our mix.

We need a much bigger deal than glenlover to rerate

Ok fair enough we get bogged down here. I put what you may consider as an outlandish underestimate of nett to GLR. Of 5 to 7 million average after discount to present value. Ana says closer to 16 - I of course hope he is correct

but hopefully GLR will provide roper cash flow estimates in the near future if we go this route.

Why Chri5p? Let's suppose the mine was owned by a co with enough in house resources. Does the 0.25% cut off have a different meaning or are you saying they still make a profit at this concentration?

You did not read and understand my calculations and you continue to evade the question which is a key point for nett due to GLR. You are rude ..nuff said

You are evasive..You make no allowance for contractor profit in your calculation. I was open about my assumption perhaps you would like to correct your calculation with your assumption for contractor profit?

The cut off grade is the cost. This recovers the contractors costs. You think the contractor will do this for no profit?

Ok ..but you assume the outsourced companies only recover their costs? I attributed a 75% distribution of profit to them ..GLR/statunga get the other 25% for sitting on their hands and no capex/opex outlay

6 million ton, 1% grade, 0.25% cutoff, 10 year LOM, annual output taken as average, 75% of asset - all stated many times in RNS etc. What is your calculation - perhaps we differ in that I discount to present value at 8% pa?

For clarification rising Cu alone only adds to income not costs. But no accounting for inflation here which could affect costs but not income ( since it is in encompassed ih the Cu price for the latter)