Member Info for Castaway

Higher!

Hi Echo, My take on asset sale is that it would need to be proved up more which would take longer and then you need a buyer - Thorny may be rich but it is on the small side for a major to take on and though it reduces the risk to BOD it would value the asset way below its potential if mined. The Chairman has stated he would like to actually mine diamonds and IMO this is the best opportunity - due to the fact it is small and potentially very rich (based on Marsfontein) - low capital requirement and fast return IMO it is one BOD could do whereas the other world class licences/assets the company have are going to be way out of reach to mine. The other knock on effect of mining Thorny would give BOD a much larger market cap and that in itself would attract II's and the ability to debt finance the larger assets going forward.

The options are:
1) Raise finance to mine it - 100% profit!.
2) Get a JV to fund it and mine it - lose 80%?.
3) Take a royalty and allow another co. to mine it - lose 95%.
My personal choice is 1) SA is cheap to mine in,there is a lot of equipment available - $2-3 mil would do it if it's commercial IMO - based on Marsfontein if Thorny is only 50% of the size it will still be $200mil+ at today's prices and the technology has moved on as well with XRT.
IMO BOD need to grow some and go for it!

Sorry wrong link https://www.youtube.com/watch?v=uzSm6ayRNjQ

https://www.youtube.com/channel/UC7oPkqeHTwuOZ5CZ-R9f-6w

I don't believe you can spoof a market with 239 shs :) - it's taken forever to list and very early days - there are probably few platforms set up for ZNC yet.

Google showing the current ZNC s/p at CAD 0.75 for our 41mil shs that equates to around £10.80 per URU share by ny calculation - so not bad if it holds , but early days so let's see.

The investment case for URU is simple IMO - the asset is great but URU management have not exploited it's potential for whatever reason, which is unimportant to the investment case today.
The BoD have decided Zebediela will progress more quickly on the TSX and I think that's correct, it seems to be the best for junior mining stocks right now and Zeb gets exposure to a new market with new management.
If you look at the NPV of the asset at current value of Zeb Nickel shs and hence URU it is priced too low IMO.
It's a simple case - if it is undervalued Zeb shs will go up on the TSX and URU shs along with them.
I think it has a way to go yet, we will see when it starts trading on the TSX very soon.

Noob I think the filing statement released yesterday covers that - see https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00048558

Noob re. listing - from the RNS 3 days ago - " Transaction is expected to occur on or about 30 July 2021" - I agree with Klein IMO listing will be Tuesday - BR have been busy if you want to keep up with progress on TSX see https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00048558 they have been busy! - may change to Zeb Corp. on listing.

IMO Birdy will prove it up sell it to AA and move on and good luck to him

Screenlearner - probably not "orders of magnitude" unless XTR go on to mine Bushranger - then it probably will be - what I should have said multiples of current s/p - apologies!

I have been investing in AIM miners for over a decade and learnt that CB is prone to issue shs like confetti - so was wary of XTR after being in bitten by the Bird in the past - however coming late to the party I see how XTR are putting together a serious mineable project with Bushranger - the model announced recently is worst case and every mineable tonne of Cu added makes it more viable - this is not spectacular but copper these days is always low grade and it will get worse as richer locations become mined out - what we have is a decently large decently rich project that will probably be mined and for a minor like XTR it is going to rerate the s/p by orders of magnitude. I have been loading up. It was over 8p a few months ago and we are further on - I think Birdy has a winner this time!

Our partner in Botswana has just raised $50 mil, $6 mil of which is for "Other M&A; continued execution of portfolio strategy; funding of success in Botswana" on page 11 of presentation below.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02398960-6A1042294?access_token=83ff96335c2d45a094df02a206a39ff4

If you check out the independent technical report prepared for Blue Rhino this year you may find out why URU is a good buy at current s/p. See this https://www.rns-pdf.londonstockexchange.com/rns/9390Q_1-2021-3-2.pdf
Has TW read it? See page 123
The PEA projected pre-tax pre-royalty NPV (of Zebediela) is $1,018,000,000)
OK there is a lot of work to do to get to there, but we own 80% of that and current MC is around £5.7 mil so even if you take convertibles and options into account IMO there is plenty of upside.

The s/p of URU is now dependent on the s/p of Blue Rhino or Zeb Nickel Corp. as it will be known - the subscription was increased due to demand on the TSX which bodes well - if they market Zeb well over there (and it is in their interest to) URU shareholders will reap the rewards. I am hopeful of a multibag from here - depends on how good ZNC management are. Presumably Zorbas has an exit strategy - big it up on TSX sell the shs and div shareholders? - this is a liquidity event for him and all the other shareholders. I appreciate many here are down, but I am confident there will be a good return from the current s/p - Zeb is a $bn project it must be worth £50 mil + if a bit of cash is spent on drilling etc. If you work that out then £20+ is a possible s/p here - just depends on how good the new management is.

ripley, VAST is still potentially massive. However Atlas loan was a huge mistake, if that is sorted and the potential convertible death spiral stopped then it will multibag. The assets are world class, it just depends on Prelea sorting it.

I have traded MCRO for about 4 years, it always drops after a big rise and vise versa I have never lost money trading it - I have been buying recently - this share has a regular pattern it is traded by insti's IMO, they short it and then when they decide go long - hopefully they are deciding to go long right now - could drop further but there is a big upside from here IMO.
PS anyone who thinks rampers or derampers on this BB affect the s/p are delusional - unless they trade in $millions! - which let's face it we don't!

If they get any of the options - Bolivian Lithium, Ghana etc. this share will multibag - I understand the frustration of LTH, however not much downside from here IMO and plenty of upside. rampers/derampers we make our own investment decisions do we not? - nice that some want to protect the stupid!

Hi ripley, I am still here and still invested in BOD - just watching it all unfold, it has taken a while, but things seem to be moving this year......