Member Info for cyberiachas

An extremist position. Apply extreme caution to numbers and promises made on podcasts.

Show me the accounts stating £4m cash? they would also show all liabilities including accounts payable for goods and services rendered but not paid - you take those away from your headline cash figure to give your real position. We don't have any debtors as we haven't sold anything

There may have been £4m in bank/liquids but also plenty of liabilities/payables so £3.5 (or less) would be a far better assumption as that was said on a podcast - its clear that those should largely be ignored

When I first saw this Luansobe RNS I was pretty disappointed, no asset sale and no imminent production.

However it has been pretty obvious to most for several months that there would be no production this autumn, especially as the mining license took a while.

So at least we have an update and some work has been done recently further defining options for production and probably increasing the deposit size - imho that was imperative to make a potential buyer realise we are ok to go it alone without a strong ££ buyout offer.

I actually bought some back this AM at .94 as there is still the POSSIBILITY of significant upside - but there are plenty of risks along the way so don't believe those who say its a slam dunk - junior resource mining in Zambia with no JV partners and an 81 year old CEO ( I wish CB every good health but would be in some degree of trouble if he did become incapacitated) - this is a speculative investment but the assets are still good.

I agree with Flipper at 10.21 - yes we have cash/liquid but £3.5m does not go that far when drilling in NW, Shinganda and what looks like plenty being spent at Luansobe, plus general overheads and kalahari costs - 1 year or less I would say with that going on, so of course there is the possibility of a raise, its AIM.

Unfortunate it’s a case of You Don’t Know like the rest of us and maybe Colin too

If you want to characterise it as moaning it’s up to you I guess. I’m reacting to a complete failure by the company to meet its stated goals and promises as we get into September- and to not even bother to give shareholders an update.

Give me something to be positive about and I will be - I still hold plenty here but I feel it could be a good 6 months before meaningful action and the company should also consider it’s management structure- ie someone to succeed cb who is objectively v old for this role.

We were all hoping for pretty near term action on luansobe - mining by September, so yes the hypothesis has changed

I don’t see an alternative positive one for the next few months and repeating IYKYK doesn’t cut it for me.

Honestly willing to hear the argument for holding here and maybe adding when it goes to .9p or lower

Your hypothesis was 3 asset sales in the first half of 2024, have you sold out?

Well I just followed my own advice and dumped £10k of these - like someone said there are better opportunities elsewhere .

To sit there multiple times saying production in September/October and not have a word about it since shows disrespect and a lack of leadership which is not good enough.

Cooper lemon sat next to him and said it so their credibility questioned too - when is the agm?

This was an opportunity for CB to say something and stick to it this time after v serious overpromising on XTR and elsewhere - if he can't get it going then maybe it is time for him to pass on the reins here and elsewhere. Quite a few of us on here have been v patient and supportive but enough is enough - if there is a half decent offer for Luansobe, take it and get on with developing the other assets, its clear that in fact he doesn't want to mine it.

Interesting that even die hard optimists like Analytical don't have much to say - its time to make some serious moves or pass on the baton.

I sincerely hope CB is lining up a deal on Luansobe in whatever format - there is zero news on a mining plan, for an operation that was due to start September/October - why say it if you're not going to do it? or at least update with a change of plan - currently very unhappy with this situation. Happy to fully eat my words if he does a deal, but not if its 2025

We seem to be way overdue an FQ update on the 4 optioned licenses, not to mention Ngombo where there should be some kind of mining plan by now?

Also in the April 24 FQ update RNS the following drill results were awaited with nothing to date:

· A 772.3m deep diamond drill hole completed over the Ikatu on an Audio Magneto Telluric ("AMT") generated target. Awaiting results.

· 9 reverse circulation ("RC") holes drilled at the Chipopa target for a total of 780m. Awaiting results.

That's at least 4.5 months ago now - update please BOD

Any particular reason that you are feeling bullish right now Paulfg? or you just see it as a good entry point?

That could be months so I really hope that isn't the case. Fair enough if CB is in discussions but for me there has to be movement on the current Luansobe licence in the next couple of months as this was promised several times

I don’t see a major wanting to buy up this still largely unproven bag of sweets - a deal with jlp on luansobe quite possible for offtake if cb has someone lined up to get it out of the ground.

A cash up front sale for that with maybe an option on the deeps would be best and give plenty of funds to develop shinganda which is still 2 or 3 steps behind . Also funded for the NW where the really big prize could be.

In the long-term we are all brown bread. A global recession could easily occur in the next 6 months with all of the massive leverage, high interest rates and govt borrowing out there, china could have peaked and be on the floor for 5 years, or this significant supply gap could occur and the price goes up rapidly.

Truth is no one knows as evidenced over the last 3 months. Supply gap focus caused bulls to pile in and push the price up to $11k, then the reality of chinese demand weakness and general slowdown brings us down to 8.8k

i would think the key starting metric is how far above breakeven is the current copper price. as much as mr friedland says it will be $15k in a couple of years he's going to be biased as he sells it for a living

I think a small/medium sized chinese buyer would be very influenced by the spot price and the likely direction of travel of the copper price in the next 12 to 18 months. Luansobe open pit is not a 20 year project and the likely buyer is not Rio or BHP

Of course it would be very nice if Colin followed suit

Probably nuts but i just went back in to average down. XTR has plenty of cash at bank and a lot more incoming in the next 2 years. It has Silverking and some very well placed licenses in NW Zambia and a roll of the dice with Bushranger if copper does go above $12k over the next couple of years, and rolling a 6 would be a pretty big payout. Fingers crossed and all that.

Personally BS I was referring to the optimism and posts on here that a deal was in the offing with an RNS baking in the oven , obviously that hasn’t appeared and the longer it doesn’t with copper falling I can’t see a deal being better than it might have been a month ago - and my sentence started with the word IF

Well if a good offer for Luansobe has been turned down I don't see it getting any better for quite a while, perhaps the other way as copper currently plummeting