Member Info for CHRI5P

Copper up 3% over 11000

The news is good but for CB companies good is not good enough

The longer it takes to get a mining license RNS out the more likely IMO that a sale deal is being negotiated. Time will tell but I would still sell the Luansobe at the right price.

Iky you're being quite restrained. The money being received is good news and shows we don't need a placement any time soon. I believe in GLR but not the PI's who invest their money in AIM because that is who we rely on to buy the shares . GLR is to small for institution money so we have to convince the novice investor to take a punt. Colin's reputation among investors is in tatters and this is due to the failings of his other companies but not GLR yet. We seem to have the better of the prospects and Shinganda looks super interesting. but the worry is that the over promise of XTR and co will fall on GLR. The problem IMO is Colin is all out trying to achieve a billion dollar company when for me I would be very happy with a one hundred million one. I still think we need to sell some assets and reward shareholders now rather than the possibility of creating that billion dollar company but many moons away.

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.

That is correct FS

OK Ana - due to it being on profit you are actually very generous. I think turnover is better and takes the cost out of it which is a better deal for us even if it is lower than 25% of turnover.

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.

Agreed Ana we use a contractor and they take a large percentage but we retain ownership.

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

It will mean dilution at some stage but even with the 12% charge (not interest) and the 50% warrants a conversion price of 2.8p is at a good level compared to the SP last night.

AFP have anounced a complicated loan facility of up to 1.5 million

CB did say non payment would mean we would retain the asset and that the drilling programme would be scaled back

My personal view is due to not receiving an RNS then we should assume the money was received.

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.

Not yet T72 - I am waiting for money to come available first.

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

Is 253 already ready to be sold/JV'd?