Member Info for CHRI5P

Well said FS

So Denarius shares are up over 30% this week. I hope we can get this uplift on any shares we still own.

I don't think anyone mentioned the NW Zambia

I am waiting for some more money to come available and then I will be buying millions more shares.

If we don't get a deal in the next few months then it will suit me because I expect the moaners will finally sell up and I can get their shares even cheaper. So CB only do the right deal and ignore the moaners who give you no respect considering you have put together an amazing array of prospects.

Over the last few days my target price is now up to 20p from 15p.

Very interesting and this could fly next year.

Absolutely WW

My post below is if we complete a new JV with Jubilee. I am not ruling out a cash offer of over £50 million from a third party. I just don't believe Jubilee can afford an outright cash offer.

Good analysis JL

Jubilee want to own at least 51% of any mine so that they have control.

If we say the deeps with no mining license are worth say £5 million and the 2 licenses £45 million that hits my £50 million value for Luansobe.

For Jubilee to get 55% and GLR 45% they would first need to buy out the third parties 25% in cash.

30% of 45 = £13.5 million.

£5 million might be for capex to put into Luansobe to get the mine running, £3.5 million cash to GLR and £5 million in Jubilee shares.

For me that is how a deal will be done - similar to the SFR but without the bonus.

A good RNS today and underlines why we needed to have a fund raise in September.

£20 million is no way enough for Luansobe. We still have a lot of short term investors wanting a quick buck to move on to another share. CB take a long-term view even it means we don't do a deal in 3 months time.

JL you are right to bang on about copper because the stuff we have in the ground is going up long-term. Maybe if we don't get a deal more of the weeds will sell out and I can buy more at an even lower price. My target price over the next few years is 15p. So anything lower than £50 million for Luansobe would be a mistake. My target is mine so it is my opinion and my mistake if I am wrong. I got a 100 bagger with EUA so a 20 bagge frrom here for GLR is a very reasonable possibility IMO.

Bottomsup Jubilee are not big enough to take over GLR but they possible could agree a JV on the 2 Luansobe licenses.

There's no doubt in my mind that the cash raise and this deal is linked. Jubilee probably gave GLR a deadline to be able to anounce/transact the deal. We have to complete work and spend the money within 8 months. There's no way we could use money from the proposed two desls. Even a deal is done in January it can take 6 months to actually get any possible money which would not help the bottom line.

Yes JL we concentrate on the exploration and Jubilee the production of the mine. The capex spend for BZT's H&G is £12 million but Luansobe open pit is far bigger so the capex spend might not be that much. However, if we're doing a deal with Jubilee is on both licenses which would increase the capex a bit.

I was not in the camp that thought Jubilee would be a partner for Luansobe but this collaboration suggests that another deal with Jubilee on the open pit licence could be more likely with Jubilee taking on all the capex spending for a percentage of the mine.

It sounds a great deal and it suggests the reason for the cash raised in September was to facilitate this deal.

I suspect the moaning group will be anoyed about not getting a sale of some sort. This RNS suggests to me a deal is in the making but not quite at a stage to announce.

JL I think Iky is the most disengenuin poster I have ever come across. They make up posts at will and nothing they claim comes true. I suggest everyone take an ocean of salt on everything they post. 3 months ago they told everyone buy PREM at 0.20p equivalent and that CB should be like the Prem management. At the time I said PREM is likely to go bust and I announced I would filter them. PREM is down to 0.06p or 99% over 3 years.

By the way MM on this one Myles is definitely not the idiot. You really need to read the RNS again.

MM if we don't return capital and that might mean handing cash out and Denarius shares but that might be expensive to administer so selling the shares and handing cash out could be the preferred option we are unnecessarily giving our capital to Marula shareholders. There is absolutely no benefit for Marula to do your option because they're giving away too much of their assets to EUZ shareholders.

This is the RTO and before that we need to delist officially and share out the capital to shareholders. So inefect we will be a shell company ready for a RTO.

MM yes the deal is 9 EUZ new shares for each Marula share. There's 335 million Marula shares so that equates to 3.005 billion new EUZ shares + 102 million old EUZ shares changing to new shares. So 3.1 billion shares. If EUZ new shares are valued at 2p then the company is worth £62 million. The old EUZ shareholders have been given around 3% of Marula for their listing while Marula get an AIM listing +£25 million long-term funding for giving away 3% of their company. Not much dilution for Murala. As I say win, win. IMO.

Sorry to hear about your Mrs Funky and I hope things work out.

I obviously would like a deal or 2 by the end of the year but not just a silly valuation that is not worth the paper it is written on. PREM is back to it's lows again and we don't want a deal like they delivered for shareholders. I just have this feeling that we have 6 licence arears where money is required to move forward and 2 ready to offload to someone else.

Additionally, just over 4 years ago we sold 7 licenses to SFR so progress on this would be nice but we have to understand that a JORC would need to be announced on those licenses which takes time and money. Hence, why SFR gave up on AFP 's licenses early.

We should not underestimate the prospects we have and are definitely not appreciated by the market. CB bought these unloved licenses on the cheap and yet very few investors understand or appreciate that fact.

Yes Marula will be in charge pre RTO and EUZ will be around only by name. Marula are paying 3/4% for EUZ 's AIM listing which is a condition of the long-term funding. It seems a no brainer for both parties.

MM I don't see it coming back on AIM until the RTO if it goes ahead. If the RTO goes ahead their will be 3 billion shares not 102 million. So 6 would value EUZ at £180 million. Now I could see EUZ being woth £60 million or 2p a share. The current price is 3.52p on the JSE which is about right. 2p for the capital we have and 1.52p for the RTO.