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OK BS I apologise

Finally, when you compare GLR earn in period to FQ (with AFP) it is quite interesting. GLR gets 65% of the licence if they show the potential development of a 500,000 copper deposit whereas FQ get 51% of 4 licenses if it can complete a development study to show 300,000 contained copper. Both GLR and FQ can put things on hold after the first stage!

If you do the maths to get 10% from spending an extra 2 million then you would need to be pretty confident the licence is worth over 20 million. Phase 2 only works if we have found a big prospect.

Yes Aeris, it would need to show more than 500,000 to get a big enough investor interest and spike. But we don't have to complete phase 2 and spend 2 million in 2 years to get 10% extra. We can move slowly with 65% and park it for a while.

BS the funding for phase 2 was not in stone and we can walk away with the 65% and not spend the 2 million (maybe dollars). We can park it for now or sell it to get 55%. Loads of options but we won't be spending 2 million unless we know where the money is being raised if at all. Typical BS trying to intentionally be negative- are you sure you own GLR and not GRL.

Finally, the actual marker to prove 500,000 tonnes and a pay back in 42 months to claim the 65% would suggest a very good licence to own 65% of and hence the high relative cost to purchase the next 10%. Quite a complicated deal. However, we would need a massive interest and spike on the SP on the news to justify a placing to raise the £2 million or know an asset is being sold.

The reason I say sell it is because we will need to spend £2 million over 2 years to get another 10%. Even if we sell it for £4 million we get 55% or £2.2 million and save spending £2 million for phrase 2. Don't be surprised if we do reach the benchmark to claim 65% we actually do a deal. Otherwise, to commit to spend £2 million over 2 years we would need to be close to be selling other assets.

Aeris good point but it does say 18 months from September/October 2023. So we should know in the next few months. It would be good to get the 65% but we might sell it.

XTR lack exploration licenses so this is just to be expected. Unlike GLR who have a number of quality assets.

I sold out of BZT because it just doesn't have the assets at 3.4 at a loss. The 11 Argentina exploration licences could be very valuable but BZT doesn't have the money to develope them and who wants licences in Argentina.

BS please explain why you invest in AIM exploration? Most will go bust and you are convinced like Iky that with CB running the show GLR will also go bust. Selling up seems your best option.

The JORC was 2 years ago not 3

No BSM you are wrong the narrative is not that we don't want to sell or start production at the OP, rather we choose not to. Monetising the open pit in a rush will compromise the whole area. Selling the OP to A might get us £30 million but we then struggle to get £50 million for the other areas. Whereas, we might get £150 million for the lot with a bit more drilling.

Yes data and cyber I generally agree.

Luansobe is a puzzle and I think we can all agree it doesn't concern the quality of the asset but the waiting and the delays.

CB once said that which ever avenue we go down we need to make sure it is the right one before we received the 2nd licence. The delay in my opinion is that CB wants to sell the lot but at the right price and with copper on the up waiting might not be a bad option. A drilling campaign to improve the data might be worth paying for while the negotiations are being done. It would also be a better option if viable to sell than go it alone or with a partner. Hence, CB saying we need to get it right first time and hence the waiting. I believe P253 in Botswana will be the next deal because we have no plans to spend anymore money on it and it is in the perfect location.

KAV is a ponzi scheme. They are valued at £20 million but have nothing in terms of solid assets. A valuation of £5 million would still be too high because the cash that KAV has will be wasted. The best hope is for it to become a shell company and monetise the huge losses in the accounts.

P99 we have had 5 years of good RNS's adding multiple assets, a JORC, 3 mining license, only one placing and done 2 sales with a possible bonus to come. Anyone invested in CB's other companies might have cause to complain but not GLR. The AIM market is not efficient when you have KAV valued at twice GLR but with 7 drilling failures, no mining licences, no JORC's and a CEO with no mining experience or success at running any company - you couldn't make it up if you tried.

Offers Opptanality which would also mean closing the company

I get the impression from the RNS that we have until the May 13th to find a new RTO. If we don't I suspect the shares will be sold an the company closed. 2.5p is better than complete failure and the SP could rise a bit more before the 13th May.

Cyber, Luansobe OP cut off is 0.25% wìth a 1% inferred deposit which is far better than any other mine in CB's stable. If Luansobe doesn't get mined then nor will BZT or AFP's OPs which are much smaller with 0.5% cut offs.

TT yes, you would need a majority but first you would need an EGM to vote on it and I think you need 5% for that.