Member Info for CHRI5P

I agree JL but from what I have experienced mining companies go mining on indicated and don't wait for a measured one which is clear when mining starts

From my experience measured only gets recorded once a resource is actually mined and can be 'measured' so showing an indicated resource would be required IMO.

CB used to say inffered is enough for him to go mining but indicated is required for a Feasible Study to raise big bucks.

I think that the best thing for PL253 is it's location regardless of how much copper is actually there. The compition between the 2 possible buyers is enough to create a bidding war. PL 39/40 didn't have that. We should not spend too much on PL253 unless we sell other assets because the early drilling can be unhelpful and ask more questions. It is not cheap to complete major drilling programmes and at the moment our cash is needed elsewhere.

I just don't think the bid price was ever 0.95. One MM was asking for 0.95 while accepting below mid. This encourages people like myself to think we have an even better bargain but it is a mirage. Everyone knows they can buy below 0.9 now and it is orderly.

Yes their is a large seller and there's been over 10 million buys just below 0.9. Encouragingly the sell price held up. The placing was at 0.8p last year and we have had selling intensify between 0.9 and 1p.

If and when we can clear 1p I expect the seller will have gone and the SP will charge ahead

We have now received 7 million from SFR for work and purchase prices costing around 1.5 million and we still have 253 and a stake in the licences sold. Great deal making CB

This is a good deal with SFR and better than the previous one.

The last deal involved 8 licences for a similar price tag but also included a caveat that SFR would have first say on future licence sales apart from I think 253. So this deal shaped todays sale.

Last time we needed money to buy quality licences in Zambia but I think SFR had enough on their plate with a big acquisition to digest.

This time the deal includes drilling targets as well not just spending amounts.

If the drilling is successful then it should filter down to GLR SP.

This a very good deal at a great price considering it is still a long way from being mined unlike Luansobe and requiring huge capital spend.

A seller can only sell their shares once. This is good news and shows CB can get deals done without a fire sale. Let's all keep positive

To think those relatively under explored licences are worth over 7 million dollars to SFR and we're only worth £12 million with all our assets and 3 million dollars coming. Stupidly cheap comes to mind

Just done a dummy buy and can get a further million at 0.898

Hi JL, the point is that they are not sells. Two of them were my million buy bellow 0.9p I think you'll find that they are all buys.

Hi JL, the point is that they are not sells. Two of them were my million buy bellow 0.9p I think you'll find that they are all buys.

Heaven forbid I am quoting IKy

CB indicated that Zambia and Zimbabwe are core assets. Does mean news on Kamativi soon and IKy might even be right. Even forgive I am quoting IKy.

JL don't you think the very reason 253 is not being sold is because the licence below might not be too far away from a JORC and CB actually thinks this but can't RNS a speculation.

Quite a few buys coming through now.

The 2 million trade this morning was part of an ISA transfer yesterday afternoon IMO

1p to buy

Assets like Ferber sold non core

In the next few months I think we will say we are going to start mining at Luansobe and we are in talks about raising funds to start the process. This could put a rocket up the SP and the warrants get excercised. This is basically what BZT did. We have warrants in issue which could raise big bucks. We might also be getting an income from Molefe next year and other assets like Ferber.

This is why we had the convertible loan in pĺace ready. Even if we get a good SP run we won't need a placing and it gìves the warrants a chance to be exercised. We could be talking $7 million enough to start mining!