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I think I posted in January that we would need an RNS to give details on the 80% ownership and that would come first. So we are now waiting for the exploration licenses extension. Reading through the RNS it is clear that they're lining things up and Iky's post last night was a push. The potential buyers would require the licences extension. This could be a large JV deal but CB I want cash today and not possible in 4 years time. We have other assets which can provide the big sale.
ID you might be right. I have not used the phone for over 10 years. I used to trade investment trusts warrants and I would be buying over 10 times the NMS Barclays would ask me if I wanted it to be showed or hidden. If it was my last buy then I would show it. I also was called up by Barclays once to ask if I would sell a large number of shares at bid price (price 9 - 11) because they had a buyer. I sold them and bought a car. I miss the old days when I could call up and ask for a much better price which Barclays would accommodate.
I have traded a small amount of my GLR holdings like you FS but I am now at my highest holding ever due to the number of potentially re rating RNS's that are waiting to be disclosed.
From what I gather and this was a few years back when I used to phone to trade and I was wanting to buy a lot Barclays had the option to not disclose the buy so I could possibly buy more without the price moving and the same when selling. I only trade online now and have not tried or looked to hide trades.
iani we did not need the nw zambia licence i personally think cb bought it through glr because non of his other companies had the cash to. the licence is speculative but that's what exploration is at the start.
for me shinganda, sfr kalahar, own kalahari licenses, bulawayo, kamatavi,luansobe and even ka****u and ferber are ahead because in all there's been enough data to show there are deposits there.
Andrew444 I agree when you said CB is all out for a big find due to his age but GLR have 5 or 6 other prospects which are far more important than their NW Zambia licence. If GLR find dust it will be of little importance to GLR.
Yes a good day but will take it with a pinch of salt due to XTR falling back today from their large rise yesterday. If there is one company in CB's portfolio where news/RNS is imminent then it must be GLR with such a huge number of prospects. Maybe tomorrow is the news we've been waiting for.
I am sad to see the demise of any company owned by so many British investors. I do think like with SXX there will be a small payout. For me when a company makes the decision to mine it's not de-risked it as just changed the risk profile. The told you so people who enjoy rubbing salt into a deep cut should do everyone a favour and ... I am a previous HZM investor so I have followed the company so I do feel for you. The easy bit of investing is to sell when you're up but taking a loss can be difficult and extremely painful with that glimmer of hope replaced with sadness. I hope the financing can be agreed.
The reasons for me wanting GLR to concentrate on exploration and not overspend can be shown by looking at SXX and HZM. Too many investors think a prospect as de-risked when the decision to mine is made. However, the risks of huge financing and construction over runs let alone the possibility of a falling resources have just begun.
Absolutely not, GLR bought 29 licenses in the Kalahari for less than £400,000, spent £100,000 on them and sold 8 to Sandfire for £4,000,000 without putting a drill in the ground. Luansobe is already to mine and the JORC was announced 12 months ago. When there is a race for a number of licenses in the right postcode, the right initial helicopter reports and the ground rock sampling then you will get the interest.
ID, Ongombo needs money to fund the construction of the mine and it will not cause dilution. What that really means is AFP will give away a percentage of Ongombo to another mining company to take the project to production. This could be anywhere between 51% to 75% and AFP will be the smaller partner. When mining CEO's say non dilution they mean a percentage of the mine is up for sale.
Agreed FS. AFP is the silent partner who as given away 75% of their licences to FQ for them to get the project to the funding stage of constructing the mine. XTR and GLR are the 'FQ' partner not the 'AFP' partner. XTR needs to spend $5 million and GLR $2.5 million to get to the same stage and receive 75% of the licences and are ready for the funding of the construction of the mine. XTR pays double GLR but owns twice the area. If one of the licence areas hit it big then FQ, XTR or GLR will hit the big time but AFP will be a 25% winner or a third of a winner compared to FQ, XTR or GLR. GLR only as one licence but if they hit a big deposit they will own 75% ot it.