Member Info for CHRI5P

The exploration license will run out at the end of November 2023 but if you read the 12th November 2020 RNS it explains that by then we will have applied for the full mining license. I have noticed from owning shares in CB's companies that he actually starts mining before he gets a DFS. If all the exploration work is done then there is no need to have an exploration license what you do need is a mining license. It is all about convincing the authorities that we are going to mine the area because we have the data, the resources are in the ground and it is an economic venture. The grant we received in October 2000 was all about more drilling and testing and so I apologies for miss-reading the situation in November 2020 when I read the PES and wrongly and thought we were close to a PFS. Until the grant work is finished we would never going to have the completed data set for a PFS. I expect this time next year we will be ready to apply for the full mining license.
Funding is critical and this is the case for all exploration mining because we don't have a revenue source yet.
Ideally, within 6 months we will have a partner but if not then yes a placing will be required. However, if the drilling results and the metallurgical results come in positive then the SP will increase and the placing will not be as bad as if it was done today. The other thing is with the cost within the company being reduced and the exploration work done we might not require the amount of money we normally request.
We cannot be sure how much time and money we require to get this to a PFS and mining license and even though we are close there are no certainties. I agree with Shed that we have de-risked but this is just the natural process of proving up the project and sadly there is still a risk that what we have in the ground is not good enough. However, this risk is all in the SP and more so any good news on the drilling and Mets should give the SP a well needed boost.

Well done BrickSA. What is the point on owning a stock you do not believe in anymore. Obviously, I hope you are wrong but we will see.

I was actually thinking that we would get an after hours RNS today or one tomorrow?

I think today there was lots of buys to fill a big sell - it feels a bit like last week when that chap sold 5 million- remember he had 3 million left!
I am very happy due to the cash and the amazing mining potential in our portfolio.

It is not nudging up because it did not fall as much yesterday. The closing sell and bid today is the same as the close yesterday. Sometimes the closing trade dictates the price rather than the mid price which gets resolved the next trading day. Happens all the time on AIM.

Sorry, 140K not 150K

Just topped up a 150K at 1.06 - it will obviously show up as a sell.

SFR are not some poxy minor on AIM. They have just completed a $Billion deal in Spain. Selling 5 million shares would raise peanuts. They would also want to keep their options open and buying out GLR might still be part of it.

Dividend would be nice but the company can't due to having no retained profits. I agree we do not need anymore projects but we need to keep cash for exploration costs on existing projects.

What I like about CB and GLR is that he's an opportunist when it comes to buying other projects but also he make good deals. Take the SFR deal he realized that the cost of drilling the license areas and proving them up would cost a huge amount and it was better to sell to a big player in the area with a huge payout if they came good. That deal alone showed what he is about - doing the drilling yourself is expensive and far riskier. The thing is other small minors in the area will need to spend millions and still might not be successful on their drills and will need to dilute their shareholders time and time again. CB/GLR does not want to raise money he likes projects which give back during the proving or sells and takes a royalty to keep the cash situation sustainable. Many exploration minors dilute their shareholders to oblivion or have to sell out before the work is done - I am confident that CB can get the best outcomes for each project.

Buy backs for an AIM exploration company would be a waste of money because they need the cash for ongoing exploration/drilling/proving up. CB takes advantage of low prices to buy potential exploration area's. Not all will have the X factor but CB seems to have more winners than loses. However, in the exploration world due to the ongoing costs you have to have big winners and we might have one or two in our portfolio. The good thing is we do have income and I expect the Star Zinc income is rolling in and this would not need to be RNS'd each month just the first one. Not having to do placings for an explorer is important and cash is king to keep the lights on while you uncover that big one which I am sure we have but time will tell.

Good to hear from you BricksSA. Yes the exploration game is a very risky business and placements after placement are normal. Hence, why we are worth only £3 million. My view is the exploration licence end date only matters if it is us requiring more drilling. I believe the next lot of drilling will be our lot. The important thing for the next 6 months is being able to demonstrate what we have and that it worthwhile someone taking it to the definitive feasibility study (DFS) not the PFS but the one that guarantees the loans to construct and the start of the mine. The silly thing is why on earth did people buy these shares in August 2020 at 25p (I sold some). I say this because today the data of what we have looks much better and price of zinc our largest resource is at 20 year highs. Why did people like BB buy shares 10 years ago when we were so far off the proving of the asset and the resources price lower. The answer is not about what is in the ground that is the same but we are actually much more de-risked now and we have much more data. My point is we are either cheap now or at absolutely total insane valuations in August 2020 or 10 years ago. I think we're at a bargain price but the risk of more dilution is also very high. Time will tell.

Acciona Energia of Spain are testing zinc bromide batteries made by Gelion at its photovotlaic testing plant. They are testing the batteries for the storage of solar power. I read an article the other day saying that there is not enough lithium in the world to fully electrify the it. The price of Zinc will keep rising if it becomes the metal of choice used in battery storage.

I'm looking at your posts and I think things are lining up for a good summer for EUZ.

YG27 I am retiring in a few months time before I am 55 and is totally due to investment return.
The thing about timing a sell is it impossible to call the top because people will just keep buying even when the numbers look ridiculous. The old saying the trend is your friend is quite important. So now real growth shares are crashing and the trend is saying that this will keep going for a long time and SMT are only invested in real growth with no core holdings like Microsoft. If you want tech buy PCT. So growth is still expensive, the macroeconomic is certainly against growth and the trend is not growths friend. I predict 400 before the year's out.

YG27 you are missing one very important point the downside has only just begun and like many young investors you are too young to either understand or contemplate. The move from extremely over valued growth stocks held by SMT to value/core stocks will be massive.

jaskk - your point is very valid
The private equity (PE) portion will require loads and loads of new money to keep them going and SMT will just not be able to take part and so they will get diluted. If they do take part then their PE percentages keeps rising and so do the risks. Finally, if SMT do not take part in fund raising by their PE investments who will - many of the PE companies SMT invest in will run out of money. Yes, similar to Woodford.

From the Nasdaq high of 2000 it took 16 years to do a new high - growth is in decline and so is SMT for many years to come.

Yes you are talking about shares which are way over valued and if it was not for Amazon cloud they would be losing billions. Think about the quality of the earnings not the badge.

YngGun27 you are talking about Microsoft, Alphabet and maybe Apple - how many of these shares do SMT invest in?