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365 days in a row you have underestimated the timescale to bring assets to fruition 🙄

Closing paragraphs of the report...

"The Junior Mining Sector is facing unprecedented times in terms of its ability to access funds to implement business plans in the best possible technical manner. Secondary placings are difficult to achieve, often insufficient for needs and hugely discounted.

Your board is familiar with this situation being part of the normal business cycle, but this period in the doldrums has been much more prolonged than historical norms. My recollection says that the dot-com boom is the last time that we experienced such adverse financing conditions. We are advancing our business on the premise that it is always darkest before dawn and the fundamentals are almost certain to bring a new beginning."

You must be myopic if that doesn't' t make you ponder the financial security of this Co.

". For me AFP due to lack of money sold out too cheaply to Face. "

So we had 1.4 m march 23 in cash, 43k march 24. Yes we received 2.3 m from Glelover sale after but ausual burn rate of over 1m pa plus extra commitment of 750k NW Zambia. Been saying a long time that cash call may come before some of these assets are materialised...

Er...it was CB that said it would be in production by sep/Oct. Levi said it would be much longer and was lambasted by the happy clappers walking round with goofy smiles on their face.

Indeed DC...it is a bit concerning that, as a tiddler contracts, with local companies are not honoured and get written off...stinks a bit. Hopefully future arrangements are with companies with some substance and muscle.

Interesting thanks...maybe we will get an update in full year results due soon

Ana.. do you have further information to support your definitive statement that Star Since is producing? The last info I can find is from 11th Oct 93 company statement that says there are "unsubstantiated" reports of production which they were pursuing.

No it didn’t..we had to wait almost a month after the MLC statement so more likely mid Nov

If you read the RNS properly there is no indication of a sale. It only mentions ongoing negotiations for JV

I suspect Luansobe open pit and shalllows won’t be sold and they have to go for the dogs dinner option of managing. Multiple tenders/contracts. The potential is great but if there was a suitable offer in the pipeline they would not be putting so much effort into the mi big plan/tender process.

Good find on the 2nd license

I would go for 30 to 50 million ifor open pitn line with chris5p previous estimates maybe upgraded 20% due to lat RNS increases. Whether this creates up to 3p or 5p SP depends on payment structure and timescales and how much is distributed via special dividend. If it only ends more exploration the SP response will be quite muted.

Thanks DC .. I stand corrected

As far as I recall they said there were multiple interested parties not offers

The RNS says they are developing a detailed mining schedule to enable them to TENDErR contracts. Where did it say there are offers on the table?

.. and to address the "great" wwt question.. they do not have sufficient information and are not considering contractor offers. They have a plan to develop a plan to invite tenders

Competitive tension my arris..if there were multiple bids in action for a sale this would drive a good offer and we wouldn't be looking at this dogs dinner optionality. There is no concrete plan only " optionality" .. the company does not have resources at hand and it is a serious question as to whether they have enough funds to carry through the long delays and fund the exploration on other assets. Hopefully SFR will ride to the rescue with the most advanced appraisal position

So no clear candidates lined up to for the easy options (purchase or outright manage) so backed into option of coordinating piecemeal option by different contractors. Still have to complete plan, negotiate with multiple contractors, coordinate the individual contractors allowing for availablity. This is a long time off as Levi stated months ago .. in the meantime we burn through our liquid assets.

"Production remains dependant on a number of factors as announced previously but including permitting and the availability of funding."

Availability of funding.....how do the happy clappers feel ? A chance to accumulate more at diluted prices?

When is CB's Board appointment up for renewal?