Member Info for CHRI5P

Someone sold 3.1 million shares today I expect they desperately needed the money.

The buys are coming through I think we might finish in the blue.

I must admit I was disappointed with the RNS initially even though I had thought the stronger pound would result in a lower payout. April next year I suspect the UK interest rate cycle will have ended but not reversed and the pound will be weaker. I also think we might get more than the £2.1 million when we sell the shares due to a higher Afrimat SP and a weaker pound. However, I am not expecting £5.2 million in total.

First tranche payment of ZAR150 million (approx. GBP6.4M) in respect of Sales Claims to be settled by the issue of Afrimat shares calculated on a 30-day volume weighted average price ("VWAP") on the payment date.

Afrimat are up 20% for the month so we will get a possible 10% bonus?

Correct Analytical. Birdy cannot be blamed for the pound. When he announced on an RNS that we should get £5.2 million Truss was PM. Since Truss leaving the pound is more than 20% higher against the dollar. Birdy cannot be blamed for the SA government's slow progress but at least he had a timeline and so we get half the money before the official sign off. Yes a slightly disappointing RNS but £5.2 million was never priced into the SP. In fact there is only the SFR deal factored in the SP and anything else in the pot is an added bonus.

If we need money we have £3.5 million in SFR/Afrimat shares we can sell and Birdy quite often delays monies owed to him so a placing is still not required this year.

Due to the stronger pound we are getting less money and in 3 stages. We should be getting around 2.1 million quite soon but it is in shares. Afrimat shares might spike due to the semi confirmation and so we might sell the shares at a higher price.

A nice buy just gone through - until the license application is in and RNS'd there might be a bit of nervousness. The next 6 weeks will be very critical with drilling data, PEA and the license application. I will not predict the outcomes but the SP could be very volatile.

I think the fund raise at AFP demonstrates the strength of a company not requiring a placing. The £5.2 million means that we should not need to go through one because in 2 years time we will cash coming in monthly from many mining operations. AFP raised £790K excluding costs and increase the share's traded by over 15%. Dilution is the killer for most AIM explorer's not the actual asset. Basically we will have our cake and eat it.

Owning mining shares can be frustrating and especially AIM exploration. However, the minority can be very rewarding. Most AIM exploration will fail or you lose 90% of your holding and this will bring down the SP of even the great exploration companies. GLR are moving at pace with most projects but expecting tomorrows results/essays today is natural but it takes time and we should not overpay to speed up the process but wait for the hopefully good news. We already have had many fantastic RNS this year but they're just not being picked up by impatient investors who are now chasing AI. EUA went up 100 times in 14 months, GGP similar and GLR will also have it's overvalued moment. It might be next week, next month or next year but I am more convinced about GLR than when I first invested in EUA at 0.2p and even after the crash EUA are still valued over 3p. I am not invested in EUA because GLR is IMO where you need to allocate your AIM exploration funds. Have a good weekend everyone even you Iky

Iky you're so annoying - this is good news

I hope all is well and the SP recovers. Mannnan you posted on a WTI board to look at EUA which I did 4/5 years ago. I lost a lot of money on WTI but made a fortune on EUA and have been able to retire at 55. So thank you. I bought in over a 12 month period at 0.44 and sold out at an average of 13p. I sincerely hope the SP recovers but it is not looking good.

Cjen agreed I am speculating but £4 million is a lot of money for drilling. Money Laurence would like to have had. The good news is we will find out soon because we seem to be moving at pace.

My previous post was poor English but I hope you get the idea.

I thought we needed a PEA for the ML but for funding purposes would be better for a larger JORC.

The plan is dependent on the drilling and you cannot plan for an end game until that is completed.

I think if you read the RNS's then there is a general plan.

Initially we were to produce a PFS to get a ML but this was dropped for a PEA. No where did it say we needed to complete more drilling for the ML. The cost to complete a PFS was £650K but a PEA will cost less.

£4 million will be spent mainly on drilling Toral + a small cost for the ML and a EL for Antonina (no guarantee on the EL)

When we have the ML and the drilling complete we will own 49% of what we hope is a much larger mine resource.

Everyone then needs to pause for the next stage and will depend on what we have. Will we a much increased resources area, will copper be included and what are Denarius's finances like.

If all the drilling is positive then Denarius will take up option 2 or we will need a large placing to basically match Denarius to produce a PFS/DFS for a much larger Toral/Antonina. Not to difficult to understand.

CJ, Shed the drilling of 043 was confirmation within the block and was drilled to a deph or 491m. We are drilling 11 holes at an average deph of 635m which suggests a few holes might go beyond say 1,000m. Do we think we might be drilling for copper? The copper was not that great in hole 043 due to it's deph but could we be going much further down to accommodate copper in some of the drilling.

Spec7, BB, Highside

Well said shed. I have BB filtered. I can't remember one informed post from them. I have lost money and lost 100% of one miner but I realised my error rather than blame everyone and everything. BB must be very sad and maybe they need help.

The 500k is my trade. I tried to buy another 500k and then 250k but was rejected. I put a limit order for the week of 250k at a limit of 1.21 but Hargreaves rejected a limit order (FFS) saying the price for 250k is 1.24p.

Proving up in all that sand is expensive and is the reason the Kalahari is under researched. Cobre is doing our work for us because any success they have will filter on to value for our licenses. CB bought these licenses knowing the potential but has spent little on them because of the cost to prove up. KAV have had no success yet they might have huge resource but their drilling doesn't hit the target. I cannot say how well CB did getting SFR involved and he is such a wise old fox.