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Am keeping my eye on the Mining Indaba on this week, all the movers and shakers are in Capetown this week

Cath’s holding is pretty small now in comparison to other holders, chicken feed. I doubt it will dent the shareprice too much even if he sold them all. 4,173,924. (2.6%)

The one to watch is the distribution to the now delisted Novelion holders who collectively hold 14,040,250. (9.0%) Many of these holders will likely sell once they can (at the end of 2020)

Talk is that global interest from railway companies is healthy, more than the current team can handle. As a result I think we’re likely to see partnerships with rail asset management companies and engineering companies who will market the product and manage contracts on the company’s behalf.

Can’t see any reasons why this bull run in BTC will stop, the longer it lasts the stronger it gets.
Interesting to see it behave as a safe haven, just like gold

Given that JLP have confirmed that Kabwe zinc is on track:
“The construction of the zinc refinery circuit has progressed well and is on track to produce the first zinc concentrate during Q2 2020“

How soon will they be needing zinc ore feed from Star? Lets’s say May 2020. This is only 3-4 months away.
The Small scale mining licence takes a max of 90 days to get a decision so it should be imminent. Once this is in place I think the offtake agreement will follow swiftly afterwards and the crushing/trucking operations can begin with contractors.
I have a feeling that one more placing might be on it’s way for the mining activities, unless the offtake agreement offers a cash sum towards this.
In any case things are about to happen fairly soon and they will be transformational for GLR.

Added more today, BTC chart is looking good and perhaps another attempt at breaking 9000.
It can all change in an instant but I think the underlying trend is up

Havieron is now featured in all Newcrest’s presentations I’ve seen, the recent one from Newcrest’s general manager of exploration is a good read

Equally it will be interesting to find out who participated in the placing

All this saga and court nonsense just delays the inevitable.
The fact remains that the 2nd installment has not been paid and is unlikely to be paid because these investors do not look like they have the money to pay for it.
Even if they paid it in the weeks ahead would the PET board have any trust that they actually have any assets to back into the company?

The Orion deal is a 2.25% royalty on future Araguaia production. Endeavor calculated this to be approx 10p per share equivalent using P/NPV on base case.
This might be a ‘line in the sand’ for a future equity raise, we don’t know, it still depends on other factors. It sounds like Orion might well participate in a future raise too.
As well as bank debt it appears they are also in discussions with government agencies:
“Discussions underway with export credit agencies to originate government backed credit line leading to lower interest rate and longer tenner – Germany and China”

Thanks JD for the comparison to Lundin’s mine financing. As Endeavour led this I had a quick browse through their milestones and it’s made me feel a bit more comfortable. It looks like we’re in good hands. They went through the following 3 stages for financing:
1) May 2017 - $400m credit facility with Orion and Blackstone
2) Jan 2018 - $300m senior debt financing with a syndicate of banks
3) Feb 2018 - $400m private placement including Newcrest, Orion (at 13% premium to shareprice)
This was successful and they built the mine on time and budget.
This does not mean a similar strategy will be followed by HZM but it’s good to see how these things get done.

Given the finance package model I would be more happy if the equity portion was reduced as much as possible via offtake, royalty and streaming deals.
Unless of course the equity portion can be done at a higher shareprice that will be good for us shareholders. From my previous experiences equity raises have generally been done at a lower shareprice but in this case as Teck and Glencore are existing holders will they be prepared to pay a premium to increase their holding or is this just wishful thinking?

60/65% finance
35/40% equity + offtake

Good to hear that discussions with other interested parties are ongoing. The is a good chance that a better deal for Casa is on the cards. The original deal with Century was not a particularly good one anyway.

This is my take on it:
Michel Fayad transferred 14.93m shares to a company in US as collateral to get a loan (credit facility). He should have notified the market of this share transaction but he did not.
He is now saying the transfer was not for a loan (credit facility) but the US company is saying yes it was for a loan!

This all comes back to what I mentioned last week, Tamraz and his group of investor friends do not have any funds and have never had it. It’s all being done on suspect loans.
I don’t buy all this stuff about Tamraz being a billionaire, he’s never appeared in any rich list, his worth has never been valued and he’s likely bankrupt a long time ago and now trying to create money from thin air. Netoil Inc may well be an elaborate facade in my opinion. The £100m oil asset he is reportedly backing into PET is also unfounded. If it was real then why on earth would he effectively give half of it away (by backing into PET)? He would simply develop it himself or sell it on. What I’m most surprised about is the PET board going along with this deal in the first place.

Not a particularly good day to release the update when BTC drops from 9200 to 8500 overnight, but just goes to show how much aligned the shareprice is to BTC.
Whale traders are causing volatility in BTC because that’s how they make profit. Expect more volatility but my view is that BTC is in an uptrend in H1

Major mining conference coming up in 2 weeks, ARC are an exhibitor, so I would think they will time any news to coincide with this event, assuming they have something interesting of course

Great headline this morning and well deserved. Once US traders wake up they will sit up and notice, crypto is followed more in US and Asia then in the UK.

Does Tamraz and his old-time investor friends actually have any money to invest? It seems not and it begs the question does he actually have any assets to back into PET?
If so, why would he even need to involve an AIM micro-cap such as PET to develop an oil/gas asset?
It appears they did’t even have the cash available for the 2nd tranche share payment and have attempted selling some of their locked-in shares to finance it.

Me too, I’m betting on Star and Kash itu to bring in the revenue but a lot of money has been sunk into Glenover in the past to get it to SAMREC resource, metallurgy studies, PEA. Will be good to see some value unlocked in a Phosphate or Rare Earth deal.
I note that a Rare Earth project has recently been given the go-ahead in South Africa, perhaps a potential client for GLR’s REE ore in the future.
https://www.mining.com/steenkampskraal-rare-earths-mine-ready-to-start-construction/

Just been browsing Netoil’s website and not quite sure what to make of it.
Seems to be a site dedicated to showcase and associate to Tamraz’s current and former deals and bizarrely to any celebrity/politician that Tamraz has met over the years.

https://netoilinc.com/ltd/about-us/

What’s a bit surprising is the statement that they own 51% of Petrel, which is clearly not the case