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BS I think GLR had a number of plans and offers but until we had the mining license they were all theory and subjective. Hence, no information in detail. Now we have the mining license it is time to negotiate and realise the plan. You can't dig a hole until you possess a shovel.
These calculations for the open pit are tricky. I did think your 60/40 was a bit optimistic. My view is 25/75% of the turnover. So, if the open pit has 56,000 tons contained copper (see jorc March 2023) then I work it our to be 25% * 56,000 *$10,000 = £140 million over 4.5 years and we own 75% I think.
We still need to prove up all our copper assets while the price of copper is high. Only Kamativi could be put on the back burner while Lithium prices return. I would still have sold Luansobe but we might have not had good enough offers. The Luansobe asset I suspect will be farmed out to a contractor and we get a percentage
Sorry for playing devils advocate but why on earth should we get an RNS to say we have received the money? I said this in July last year when we didn't receive an RNS to state we have received the shares. Shouldn't we only receive an RNS if the money is held up or won't be paid because that is a meterial difference to what had been RNS'd. Colin I am not expecting an RNS specifically on the money but maybe put a note in the next RNS probably concerning Luansobe to placate the nervous nellys
I read the AFP results and I thought that when they explained that the deposit in their licenses were too small for SFR demonstrates that the licenses that SFR bought of GLR are not too small and we could be getting some very good news from SFR, even this year.
CB bought some GLR shares and one of the many reasons might be that he knows GLR will not be having a placing any time soon but AFP will need one very soon and he will obviously need to take part. AFP used around $650,000 last year and at the end of last year they had £375,000 cash so they will need a placing this year. I obviously think GLR is in by far the best position but I also think XTR with all their cash coming in are in a better position than AFP.
Non or limited news/RNS in the last few months means people sell and buyers put off. A company with such an asset and at such a low price is a bargain. I might buy more but it would mean I need to make the company aware of my holdings
37/38 minutes into the interview CB says we know we have domes talking about the Kalahari licenses. He then says later that 253 is obvious and we will be drilling the others (I expect 39/40) to add value!
I am glad no RNS this week because I think the longer we wait the more details we will be given on a possible sale but more likely the cost and estimated revenue from using a contractor to mine it.
CB said there is a new report in the last few days on Luansobe as identified more ore by re-working all the logs and they will be diverting some cash flow from mining the pit to start drilling on the deeps (hence some but not all of it) and it is attracting lots of interest.
I think what I said on Sunday that GLR is described now by non Zambia assets and the Zambian assets is important with most of the former being sold off or JV'd in the near term.
CB said there is a new report in the last few days on Luansobe as identified more ore by re-working all the logs and diverting some cash flow to more drilling on the deeps (hence some but not all of it) and it is attracting lots of interest.
Shinganda still on for an IOCG
Interesting work on the NW licence but not allowed to say too much at this stage (RNS will be need to update this asset soon)
In Kalahari licence P39/40P very prosperous and 243 (253) in the middle of Cobra - talking with Sandfire but not others yet but likely JV's eventually with someone and 253 is OBVIOUS and they want to add value (more drilling) before talking to anybody else.
Kamativi, CB confirms continuous Lithium grades which delighted them but not the market - they took a Chinese group out there!
Bulawayo now drill ready with targets.
Yes, I would like to sell some assets to reward shareholders which is unlikely to happen in the near future but the assets we have are looking very good.