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Maybe this price movement isn't all that surprising. there were a lot of historic holders at 2p, 3p then there was the £3m placing at 4p I think. Those guys have made a very handsome profit at 10p so why not sell, makes sense. The good thing is that there has been high volume around the 9p or 10p mark and a lot of those low price holders have hopefully sold out and shares in the hands of those looking for 50% or 1x or 2x plus - that's fine - as the resource gets proved up further more buyers with deep pockets get involved with much fewer holders at sub 9p purchase price so a good chance of some significant quick rises again when more good results are forthcoming. Hold or accumulate at a good level here.

See HS2 or any major UK project

Helping kill the upward momentum of a stock you own a lot of (10m plus from what you’re saying ?) for the sake of a few hundred quid doesn’t seem like the best strategy imo but each to their own and we’ve all got bills to pay

Bit strange how some pretty small selling sends it down whereas a couple of days ago some heavy buying didn't do too much, hey ho

Yes there’s no reason we shouldn’t end up with a 50% share of the net. The devil will be in the detail , hope they’ve learnt the lesson from manica and keep it simple and easy to police

A lot of chunky buys there must be some news incoming

Re Zambia action re Kobold announced today:

https://finance.yahoo.com/news/midnight-sun-kobold-metals-join-112500501.html

Agreed moneyman, he's giving glr optionality by saying we can do the luansobe open pit ourselves then exploit the deeps , just means we get a full price the closer we get to that outcome. Could be sell the open pit, put some more drills in the Deeps then sell that to someone else probably to mopani

Not quite sure I follow the “share with contractors “ bit

8500 x 5000 for ease = $42.5m -the split would presumably be 70% contractor , 30% us - of which we get 70% which is our ownership fraction

So that comes out at 9m$ per annum in expected year 1 ? Might be wrong with this calc

NTMU you are right about risk reward on aim. The biggest risk is running out of cash and that will not happen here now so at 11m$ market cap with cash flow of $17m and some very interesting assets. this is not the company it was even a few months ago.

along With a444 and many others I put money in at levels multiples of the current level when I could have netted a handsome profit at 8p on my base holding in early 21. I got greedy at that point and added more at 4 and 5p so overall loss here too when a sale was promoted- you have to learn your lessons.

Cb got the promotion of br badly wrong we all know that - doesn’t mean we aren’t sitting on some v interesting licenses here (and the other cos) , money to invest as well.

I think there is also a strong local team around him in Zambia which is good news and a v capable operator in Martin Churchouse who is the chalk to Colin’s cheese

I think we are now in a very good position with $17m pretty much guaranteed cash, 2 licenses in the hottest copper spot in the world.

Bushranger in the back pocket for as and when we hit 10k copper.

I’ve been here since 2017 when the share price was 1p (albeit quite a few less shares ) scrabbling for a bit of alluvial gold income wondering if a mine would ever get built.

the current situ much much better imo

Wouldn’t be surprised if Colin adds another license in NW Zambia pretty quickly for xtr, maybe a couple , there’s one obvious spot to grab imo

What is the estimate for annual copper production from h n g once the license is approved and it’s up and running ? 5000 T copper per annum ?

That’s $42m , even at a 25% share that’s over $10m per annum share with current market cap currently sub $3m

Looks like my previous post disappeared, but i'm pretty sure its 300mt across all licenses, not each one, for FQ to reach the next shareholding level. Roast hosts said this specifically. If theres an RNS out there that says different please share.

As I recently came back from South Africa, I'm going to rate the "Big Five" GLR assets, in order of proximity of a deal (in my opinion) with a positive but not crazy valuation next to each of them :)

1. Luansobe open pit - $40m - either sold any time to mid 24 or we engage with contractor and take a good share with production by October 24. This will begin substantial monetisation either way in 24. At this stage I'm not going to bother to try and value the Deeps as more exploration will be needed. Though it could possibly be tied in to a sale of the open pit in which case $100m for the both with little or no more exploration by GLR.

2. Kalahari copper licenses - given their position and prospectivity these could be snapped up in the next few month - $20m

3. Kamativi Lithium (and Bulawayo gold?) - I think this one could be sold later in 24 based on some more drilling results and an uptick in lithium prices - $40m. Interesting that we have had no assays since Oct 23 which may mean it is already in serious negotiation (as Iky first heard pre Christmas)

4. Shinganda - a lot of unknowns with this one and it will require further GLR exploration $$ to prove viability - complete question mark over value at this stage, anywhere between $0 to $200m

5. NW Zambia - most likely this will take the longest to bear fruit and it could be dust, but given its location and the scramble for NW Zambia it could end up being a very valuable asset.

That's my take at the moment - if a deal is done on a couple of them in the next 6 months the stock will be a good few multiples of the current valuation, GLA

I think the GLR license is in a very good spot - Ivanhoe have taken a large chunk of Angola right next door to the west, and obviously adjacent to one of the AFP ones just JVd by FQ to the east.

Whatever you think about the AFP side of the deal, FQ wouldn't be committing millions more to the AFP licenses unless they had some very good indications.

Thanks for the input NEWS , the links didn't work for me but a google of mining weekly first quantum african pioneer does bring up the article - will have a look at the twitter link you shared

As the convo has moved to AFP I wanted to make a couple of comments ( I hold xtr glr and afp)

Chri5p is correct there is a non dilution route to getting ongombo to producing stage. A partner will be contracted to provide the investment and mine the copper. Clearly the % share AFP achieves is very important. This in my opinion is an efficient and profitable way to maximise this resource given that AFP (and really all colin's companies) are exploration and development companies rather than production companies. The numbers at Ongombo will be very nice even at say a 35% share of the resultant copper and it owns an 85% interest in the resource.

I did manage to speak to Martin Churchouse in person a week or 2 ago and he was confident Ongombo would be producing within a year. He comes across as a very capable person.

As for FQ licenses I would be very pleased to hold a 20% share of a very significant proven resource without the company having spent a penny (AFP owns 80% of the local license holding co so its 80% x 25%). At some point it becomes sensible for FQ to buy out AFP before the resource gets too big and they also then have full control.

MC was of course bullish about GLR prospects which as we know holds a lot of strong assets.

Yes with luansobe once we have licences and all the planning finalised so it’s more turnkey and really ready to go then it’s in play at the right price - I feel that’s another few months. It is v important that we have cash so can bide our time and let them come to us with the right $$$

Very true NTM in the mining exploration world it does always seem to be “this time next year…”

No doubt the nw Zambia is a great place to be right now.

Was talking to a mining investment ceo couple of days ago who has done deals on big Australian porphyria with grades not much higher than Bushranger - when I described the grades and size of BR he said it would undoubtedly be of interest at 10k plus copper - was good to hear, albeit just one conversation