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The last set of accounts were dated 30th Sep. Obviously need to cover OPEX/CAPEX so expect significant more sales in the 6 months until the2.1 million was received. We really need/deserve detailed plans, timelines and cash flow forecast for Luansobe...

Who is waiting for what?

Co says they are waiting for official confirmation before releasing RNS?

79th MLC report states:-

SUCCESSFUL APPLICANTS MUST COLLECT OFFER LETTERS FROM OUR REGISTRY AND PAY THE APPLICABLE AREA CHARGES AND MEET ANY OTHER CONDITION(S) (AS THE CASE MIGHT BE) WITHIN THE STIPULATED WINDOW PERIOD AS ACKNOWLEDGMENT OF ACCEPTANCE OF THE OFFER;

The window expires on 20th May..has the Co picked up the offer letter?

Whilst we wait...what about all of those other assets...sale/JV of 3 by end of Q2?? Cat in hells chance.. but any news on exploration results or plans would be most welcome by all owners of this company. May even give the impression that we are not some seat of the pants outfit and attract more investors.

There would be no need for all this exhausting speculation if the management publish nte mining plan and cash flow forecasts. The Co was effusive about Sept/Oct production so they must have a plan in place unless this was just some utter BS "aspiration". If there is some delay we deserve some explanation and a firm project time table. It looks woeful that we have have a 500 million asset, an approval to mine it yet no published plan. We need a more capable Board imo.

Yes like publishing the plan.

Thanks..it has been like this for a couple of days now.

Anyone else having problems with the link to the 79th ml report? Thanks

Of course are much bigger, but profits are realised in the future. If they are just used to fund exploration there is significant risk attached, so let's see how the market responds. Had there been say a 20 million special dividend it's obvious we would see a factor 2-3 on the SP

Personally I am a bit disappointed that the much vaunted JV/sale of the open pit on granting of nte mining license looks like more hubris. If we mine there will unlikely be a return to shareholders for some considerable time, particularly if the income is just used to fund exploration of other prospects. Whilst the prospects are indeed promising the timescale for realisation is years imo and all we will get at e nebulous, hubristic podcasts. Consequently I don't expect an immediate big uplift in the SP if we mine the open pit. I would love to be proven wrong and see Chr5p 2p projection.

Given we are supposed to be ,mining in 5 months we should be presented with the mining plan now. I hope the next RNS will have some solid time projections as well as cash flow forecasts.

But thanks for the patronising comment

There is also a difference if they know that a special dividend will be paid on sale or the money goes elsewhere

There is a big difference in return timescale from operating the mine to an outright sale

"They will when they receive the official confirmation direct to them. They are following protocol. They have had the same notice so far as we have. Nothing stopping anyone doing the same."

Ye s but what they do have is a knowledge of plans for Luansobe and the timescale/magnitude of return on investment

Interesting, I wonder if it will take Cobre 5 months to respond on drill results.

A comprehensive update on all assets would be most welcome

Touche! It was embarrassing but at least I admitvmy mistakes with humility 🙂

I see your sale expectation times are already being repackaged from your earlier expectation of 3 in Q2

Luansobe ML news is due over the next few weeks... this is common knowledge. Do you hope for anything else IKY?

So if we went alone on the open pit, generating about 15 million pa (GLR's 75% share) we could say distribute 5m million as dividend and use 10 million to accelerate proving up other assets. Many investors would happy with a 5 to 10% yield which on Luansobe open pit in production alone would value GLR at 50 to 100 million i.e a 5 to 10 bagger?