Member Info for Coyote2020

Looks like a 30,000,000 buy at 16.38 today.

IamGold to sell properties known as the Bambouk assets to include early stage licences Boto West, Senala West, Daorala and the Senala earn-in joint venture found in Senegal for US$282m in CASH.
The assets sale remain subject to regulatory approval with transactions expected to close early in Q3'23.
Great news for Oriole, precisely what they need at this time. More cash into the coffers, more exploration in Cameroon.

Have a good weekend.

I guess Gates, Bezos and Branson were drawn to the Mingomba Mine, an extension of the Lumbambe Mine (formerly Konkola North), 6km to the north when they heard about Luansobe. As the crow flies, Mufulira to Mingomba, Luansobe is somewhere in between.

Kobold Metals, the company which uses artificial intelligence and machine learning to identify battery metal deposits, is investing US$150m in a copper mine in Zambia.
Kobold backers are, to name some, Bill Gates, Jeff Bezos and Richard Branson.
A JV with Australian private equity firm EMR Capital, ZCCM and Kobold for the Mingamba Mine 247mt @ 3.64% Cu say Kobold who take a majority stake.
"Our message to the world is that Zambia is here, and open for business" the Zambian President said as he announced the deal.
Zambia is a popular place.

Cobre and Sandfire enter into a collaboration agreement.

With record Lithium prices set to continue, Rio Tinto estimates committed lithium supply and capacity expansion will contribute only about 15% to demand growth over the next 30 years.
The world's second largest mining company had to shelve it's proposed US$2.4B Jadar Lithium mine in Serbia earlier this year after the government revoked the projects licences.
The company went on to say it is pursuing both organic and M&A growth opportunities and has approached some of the biggest investment banks asking for recommendations on Lithium companies and projects. Their goal at this time is make sure it's aware of ALL opportunities in the Lithium sector they said.

Should there be an NDA in force at Shinganda, which I believe there may be, otherwise there would be more known public information in this domain, can the topic be openly discussed on this website or anywhere for that matter?

All activity over the past day or two seemed to be conspicuous by it's absence.
Is there a NDA in place?
Or shouldn't I have mentioned that.

IOCG type deposits are attractive to major mining companies for a variety of reasons. Primarily, for their immense size and scale, polymetalic nature, decades-long mine life, simple metallurgy inherent in IOCG deposits and are therefore, low cost and low risk. For example, BHP the largest mining company in the world, owner of Olympic Dam an IOCG style deposit in Australia, host to the world's largest Uranium resource, fourth largest copper resource and fifth largest gold resource all in one place. You could say 'three for the price of one' almost.
Shinganda, obviously not the size and scale of the above, but has already become of interest to a Major. As MinorMiner says, with the change in government last year, Zambia has become a mining friendly destination. The major's who left are now on their way back, Anglo American for instance.

Correction - over 1Mt Cu contained at a lower cut-off.

At Shinganda, using ground magnetic surveying and grab sampling gave assay results of 1.42% Cu + 3.14g/t Au, 3.77% Cu + 1.24g/t Au, 1.79 Cu + 10.19g/t Au, 1.28% Cu + 6.08g/t Au. Nine target zones of copper/gold mineralisation were identified within an area of 12km × 6km.
Drilling commenced in May/June this year initially for three holes to test historic drilling (2 holes) at the Shinganda pit. The programme was extended to six holes as reported (RNS) on the 20th July. Assays for four holes for copper, not gold received, giving 50.3m @ 1.51% Cu including grades up to 11.4% Cu.
From the Sunday Roast podcast S4 Ep97 4.40 - 12.00 on the 16th October, Galileo are still drilling at Shinganda. Specialist consultants expert in Iron oxide copper gold (IOCG) type deposits have been brought-in sponsored by a Major.
The Kalengwa Copper Mine, an IOCG type deposit located 80km NW of Shinganda is purported to be the highest grade copper mine in Zambia, yielding grades up to 27% Cu.
The Kitumba project, another IOCG type deposit located 100km SE of Shinganda, previously owned by BHP then Blackthorne Resources mentioned in the podcast and now owned by Vulcan Copper Ltd, has a resource (M,I&I) of 27.9mt @ 2.2% Cu (614kt Cu contained) at a cut-off 1.0% Cu and over 1Bt contained at a lower cut-off.
Progress report must be in the pipeline.

The 'Dark Horse' Shinganda could be next up.
After initial reconnaissance/prospecting reported in May this year, nine mineralised targets were identified covering an area of 12km × 6km. With a favourable test drill programme of just three holes, extended to six and continuing (assays received for four holes to date) an external specialist consultant was brought-in experienced in IOCG type deposits.
Could this be the bazooka anticipated here.

Shinganda.
50.3m intercept from 21.0m including grades up to 11.31% Cu.

Presentation - 1st Dec'22.
Final paragraph;
Strong newsflow expected from BKM FS workstream updates and completion, permit milestones, BKM project financing and potential partnerships for BKM and BEUTONG.

Prices in China set a new record for Lithium Hydroxide in November at just shy of US$80,000/t.

Take a look at the article over on Mining.com titled 'Zimbabwe signs agreement with Tsingshan to set up Lithium operations' for the latest info on Chinese investment in Zimbabwe.

Taking the Luansobe calculation through to the Nth degree, the Mufulira Mine, along strike and a short distance away, has produced over 9mt of copper so far. At US$8000/t equates to US$72B in revenues.
75% = US$54B.

Could be the Consultant brought in by the as yet unknown entity at Shinganda.
The results were so good, he/she has been issued the options as a bonus.

Just a thought.

......is beginning to gain traction

having a considerable payload of three Copper projects at Luansobe, Shinganda and the KCB, Gold and Nickel Sulphide (battery metal) at Bulawayo, Lithium and Tin at Kamativi, and Zinc at Kash itu.

CASH
Nearer to £10m with the Glenover sale, Sandfire shares and paid dividends.

LUANSOBE
Progressing well. Strip away 20m or so of overburden (waste or non-paying rock) to reach the pay rock (7m @ 0.66% Cu from 21m). Proceed to 40-45m for better grades (2.43m @ 3.51% and 2.56m @ 2.78% Cu respectively) then on to 85.27m for the excellent intercept and grade 23.73m @ 2.63% Cu. Continue until trucking the ore out of the open-pit becomes impracticable, then move underground. Life expectancy for the open-pit is around 10 years. Early/starter grades seem acceptable where the world's mined average is 0.61% Cu. Mineralization is known to extend to a depth of 1250m, the Mufulira Mine's new shaft has a depth greater than two kilometres with grades in excess of 2% Cu.
'Nice revenue earner' for Galileo in the short-term. Longer term this prospect has all the components for a large scale operation of interest to the Major players in the industry. A quality asset (grade) and most importantly longevity, infrastructure in place, thereby reducing the risk. The Mufulira Mine first production was in the 1930's, 90 years ago.
With the Mopani re-structuring reported to complete by the end of this year and the needed $300m investment into the Mufulira and Nkana mines, a remit to treble output places Luansobe and Galileo in a prime spot.

....bound for fame and fortune, you know, this train.