Member Info for CHRI5P

My own view is that we will get paid out by Denarius and that might be worth £15 million or so. Due to the BOD owning more shares now I hope they will wind up the company to pay out a special dividend. This is a good outcome and not unreasonable to think.

If you research the legality of paying a dividend then you cannot have retained losses. However, if the company is wound up then it can pay a one off special dividend to shareholders regardless of the accounts showing a retained loss.

Shinganda is the one to spend money on more drilling and without a JV or partner to realise what could be a huge find. We have many other prospects which are nearly at a stage to sell. It might be worth spending a bit more on Shinganda because the potential looks to be enormous.

A company in the UK cannot pay any dividend unless the company is in profit for the life of the company and is paid out of profits. So if XTR has accumulated losses it needs to make enough profit to clear them to be able to make a dividend payment.

An RNS tomorrow and everything will have been forgotten.

The Lithium price is still double it's lows of 2021 and China will be ramping up production of EV's and flooding the market while the price is lower. I suspect demand will start to come back this year. Iky yes you're too negative on CB with regards to GLR but you have calmed it down a bit and Ana you do seemed to understand where CB is coming from.

The XTR was a deal that needed to be done and they will have a lot of cash to do some exploration in NW Zambia but XTR have nothing in their portfolio to match GLR's top 7/8 prospects, hence their SP is now down since the RNS. However, if you listen to the podcast yesterday CB would rather sell at a lower price than risk huge amounts of spending and possible placements. This would suggest over the next few years all our prospects will be sold and the only anomaly is the open pit at Luansombe but as Ana suggests a sale could be tied into the much larger underground area in Luansombe.

Let's be positive but extremely patient

So the last podcasts one yesterday for XTR and one early in the month for AFP. the main take away is Shinganda yesterday and Luansombe in the first podcast. GLR is certainly the place to be and our RNS could come any day now.

Thanks Iky, I don't expect details from you other than your source is still adamant that their information is sound. I don't want you to compromise yourself. I would love to see that RNS and you send a post sarcastically saying I told you so.

Data the results are for pre September 30 2023 so maybe it was changed a while back just in case the money was not spent pre Jan 21 2024?

Yes Agent I missed that. It would IMO slow the sale process up because we will need to own the 80% first.

3 large sells to start the day, hence the price fall.

Luansombe looks to me the most likely asset sale first if there is to be one.

I will accumulate more if price falls below 1p

Sorry, to make the point but CB in the summer RNS wrote to complete a feasibility study not a pre feasibility study. A feasibility study means we go to the next stage of raising money to construct the mine. The feasibility might be for a open pit mine which costs less and similar to Luansombe.

Don't get me wrong the ARCM deal was good for them because they didn't have the cash and portfolio that we have.

Thank you Iky

Ana I think the ARCM deal is not for us. We will have already done the work for a feasibility study which will be 2 or 3 years into the future. We will be able to possibly sell the lot for 2 or £300 million.

We are going for a feasibility study on Shinganda and paying for it to increase our holding from 51% to 65% if there can be shown to be more than a million tons of copper there. Paying for all that work for an extra 14% must as CB wrote in the RNS demonstrates commitment - it certainly does. This could be the big one we pursue to a fully producing mine.

GLR own 29% of BC Ventures (who were the sellers of bulawayo and Kamativi) and the end date for spending £1.5 million to aquire 51% of BC Ventures is on the 21st January 2024. I expect news to confirm 80% ownership of BC Ventures very soon. I am sure it's not been announced yet and any offer might need to pre date this announcement of 80% ownership of BC Ventures. Just a thought.

The deal for Kamativi might be ready but need confirmation of the assays from the all the drills.

If the grades match or are better than the initial hole then we should be off to the races and £50 million + in the bag.

If the grades are somewhat lower then we will need to consider more drilling and a potential JV.

Finally, grades are just not commercially high enough and hole was a lucky drill.

Still all to play for.

The Kalahari licenses were sold with no assays just an helicopter report and some samples. Although we are waiting for Kamatavi drilling results on the rest of the drills. We didn't do one drill on the Kalahari licenses sold to SFR.

My birthday on Thursday and we had a good RNS on it last year but which RNS if we do indeed get one next week?

I don't think you're a ramper Iky, bloody Google

I agree CB's had poor outcomes with some of his companies (low copper grades XTR and GLR 10 years ago), long waits on mining licences (GLR and BZT who required more information to be submitted) and poor communication (over expectations or non contact). However, the deal making with GLR over the last 4 years involving the Kalahari was amazing and allowed us to my kamativi, Luansobe, Bulawayo and Shinganda. The sale of Glenover will allow us to develop these assets to sell. I'm sorry who and why is it we have these lovely assets answers on a postcard. Just for the record again I don't believe you're a rapper in fact quite the opposite.

Iky I have welcomed your latest posts. Speculation on all types of information is good even if they end up being wrong as long as it is not blatantly ramping which I know you're not.