Member Info for ChameleonMan

Still listed prominently as a mining project. Even mentions the gold!

“MINING PROJECTS

Block 4, 5, 6 Copper Mining Projects
The exploration of a targeted 10,700,000 and 29,250,000 tons of 1.4 and 2.4 per cent copper in the Semil Ophiolite Belt in northern Oman and the development of gold and copper deposits from a central operating plant.”

I agree with sentiment but when you crunch the numbers deducting the Capex required, the net present value is only ~£20 million at current copper prices. We can’t get more out of a small-scale project like this on our own. Finding a way to reduce/share Capex costs would seem sensible pointing to at least a JV with Alara. Without a mining licence we can't even begin to unlock this value ourselves.

Just wondering how much we have spent in Oman. Looking back through the years we seemed to spend $4.8m on Al Thurya’s block and $3.8m on Gentor’s before doing any work. I’m guessing we spent as much again on drilling and scoping, PFS etc?

Almost poetic IB and you may be right but I just wonder if this Alara deal we are speculating on has been on the cards for some time and only subject to financing becoming available? If true the efforts to obtain a separate licence might have been wound down some time ago?

Reminds me we were expecting drilling results:

A 12 hole, 1,065m, drill programme underway at two prospective deposits - Bayda and Hara Kilab

·   Targeting extensions to the existing mineralisation and to build upon current resources in line with strategy to feed a hub and spoke mine development

o Awaiting anticipated decisions for Mining Lease applications for Mahab 4 and Maqail South

·   Bayda: a two hole diamond drill programme, totalling 560m, to test the area immediately below the historical intersection of 12.5m at 2.9% Cu from 185m (OMCO 32-141) in an interpreted mineralised envelope potentially up to 50m wide

·   Hara Kilab: a 10 hole, 515m drill programme has been designed to convert the current mineralisation into a Mineral Resource Estimate and  target potential extensions both along strike and down dip of the existing mineralisation, including a historical drill hole which intersected 9.15m @ 2.78% Cu and 0.39% Zn (11-4)

·   Drilling is expected to be completed in Q4 2018

Savannah is earning a 65% shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 Project and is a 65% shareholder in Al Fairuz Mining, the holder of the Block 5 licence.

On what basis? Remember we only own 65% of it.

Ps. Coincidence that Alara have surplus funds of £20-25m?

Well, Iceberg valued the project NPV at ~£20 million or ~2p per share so somewhere in that ballpark would be a nice offer, taking the risk off our hands and generating a nice bit of cash?

Thanks for the link to Sheldon’s twitter page. I looked up the morning briefing from SP Angel and they do seem to be going out of there way to link SAV to Alara’s new found cash! “Savannah Resources* also have projects in the area” This is how rumours start ( even though I’d already joined the dots myself). In full: “Alara Resources (AUQ AU) A$0.03/s, mkt cap A$18m – €60m investment agreement with Al Hadeetha Resources (Alara – 70%, Al Hadeetha Investments LLC – 30%, of ‘AHRL’ Al Hadeetha Resources LLC.) + (Alara – 50% with right to increase to 70%+, Al Tamman Trading Establishment LLC – 50%, of Daris Resources LLC) SAMA Global Investment of Qatar is investing €60m into Al Hadeetha Investments LLC for the development of the Washihi-Mazzaza. The Al Hadeetha Copper Project1 involves the construction of a 1mtpa copper concentration plant to support an initial 10-year mine life. The team are also planning several other copper projects to follow in Oman Savannah Resources* also have projects in the area *SP Angel act as Nomad to Savannah Resources”

They could probably afford to buy our Omani assets now. Might provide the scale that would benefit production and processing of copper in Oman. Would anyone be sorry to see it go?

.......d) shorters stopped shorting!

Hope you are in BCN Jonners? You could have doubled your money already this week #jamtoday!

I assume everyone is watching the action at Sonora and today’s report from Reuters suggesting that Southern Copper are sniffing around? 20% price increases per day at the moment following an antrocious drop in value due to a key investor selling and a shorting attack. Shows what a change of sentiment can do to these junior lithium stocks when the wind changes!

For me this is a confidence test on Moz and to some extent DA. If no response is forthcoming from Mozgov in the due timescale and DA’s guidance is exposed as no more than wishful thinking, I will discount our prospects accordingly. However that is 10 days ahead and there is no reason to be anything other than optimistic?

Response due from Mozgov on 21st March on final lease application. Scoping study phase of feasibility study also due by Q1. “Watch this space” said DA recently.......I’m watching!

Seems to touch on the old oversupply fear but the best line for me was “Overall, lithium is still a safe bet for investors due to the rapidly growing demand for it.” Simple but true.

I agree with you Osaka, our interests are now better aligned. 10p here we come!

Interesting podcast. I note that they see the 5 major Li producers needing to acquire juniors to meet demand. Worried that they may get picked off too cheap with the current crazy undervaluations. Most will wait until DFS is published before making a move even if they have to pay big dollars. The second half of the year could get interesting here!

A takeover would not be my dream nor I imagine DA’s? We are here for the full reward of his hard work and our patience. The impatient will drift away as we wait and you may get the lower entry point you are hoping for but even at current prices, SAV is very investable.