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Hold tight? That's what you said the last time you insinuated some imminent action, then you admitted selling off the rise you generated

That is already assumed in the 5 million liquid assets I believe

How do we have left in the coffers. If I remember correctly at half y/e on 30th Sept 2023 we had about 5 million in liquid assets. We were burning about 1.5 million per annum ( presumably this is higher now given increased activity) and also we had the additional 1.5 million spend in relation to increased share of BC. This leaves maybe 2 million to bring Luansobe to open pit production assuming we go it alone.

Bottom line question.. can we fund this year and become self funding through Luansobe or do we need an asset sale ?

On 28th Feb, IKY said the drill results were back and looked great. Why would the Company not publish these results?

Thnaks Iky for the heads up on the fresh, long awaited drill results.

On the 13th Feb you also said "Wow" without elaborating. Your latest comments about Kimatavi suggest this was not related to the Wow...can you give any hint on the asset the Wow relates to and possible timescales. Appreciate these are just tips with no guarantees!

Yes indeed and what about Kamativi assay results?

I presume that since Luansobe is open pit is ready to mine, a mining plan exists. I don't recall ever seeing the cash flow forecasts - does anyone have a general idea?

Are we due the next licence round form the cadastre soon?

Where the two offers on Luansobe and the Kamativi offer mentioned publicly?

Thanks CHRI5P for elaborating on expected timelines. Fingers crossed for good news soon. This together with Luansobe licence news will hopefully give the SP a leg up

Samples prepared on 21st August an 17th Oct. Does it really take 4 to 6 months for assay results to be be provided? If not, why would these not be disclosed if they were good?

Analytical.. fine, your analysis supports a view of "why", but not "why..NOW" so unless you have further info not shared in the half year report I see no support for Q2 sale view and wild speculation is the reason this share often disappoints

Leaving should have been licence

On Kash.tu... nothing has changed since leaving granted in Feb 22.

Dec 22 half year report showed no tangible progress

Dec 23 half year report said things were bogged down..even CB was not bigging this up but you expect sale within 4 months? I think that is cloud cuckoo land..

I think there is very little chance of kas..tu delivering by Q2. Half year report from our usually exuberant spinmesiter CB was rather downbeat. There may be value in the ground but this is old news and further drilling to prove it up is stuck in a quagmire of local interests. Why would anyone buy it up now ?

Analytical..what are your views on ka***u? My reading of the half year report is a bit downbeat. Many local interests and impacts to resolve, business plan an exploratory drilling yet to be decid ed. Doesn't this look more long term? Thanks

Good question abort majors taking over exploration flipper. I guess wildcatting success e is not so good and most small companies fail. CB maybe has shown great foresight here or maybe just lucky (not so lucky elsewhere) . The business model (buy promising assets to prove up and sell on) is indeed looking exciting in it's potential but I hope the model will balance shareholder return via special dividends on realisation of assets. Some reinvestment will also be necessary to sustain the model but it needs some visible shareholder return also to provide a share price rerate

PUTUP.. thanks for the elaboration

Straycat..apologies I misread your comment as a harsh criticism instead of an acknowledgement that we all mess up

A little harsh Straycat.

So, if I understand correctly, in steady state at 100K etc a fair value estimate is around 280p per share, so an mcap of around 650 million. At a conservative rough ballpark.. 100k *365 * 3 (assuming a rough 3 ponds nett per barrel) distributed to shareholders as dividend i.e. 100 million pa, so around 15% yield

Ok this is very rough and ready but to me it means PUTUP brings a sense of realism .

Straycat..if you have a different methodology which suggests this is a gross undervaluation, it would honestly be good to hear more. I appreciate fair value and spot price can be grossly misaligned but this occurs transiently and is often driven by hubristic expectations of retail investors.

PUTUP..so at 100k production, $70 Brent, current PSC your fair estimate including receivables is around 230p ?