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Errr unfortunately its down a bit

One thing Colin has been clear on is that he is not going to spend any more money drilling at BR in the foreseeable. To me that means until copper is solidly above $10k at a minimum - and I totally agree with that stance. There may be some further juggling of numbers and methods but its clearly worth zippo sub $10k.

Iky is moving the market! Keep it coming

Interesting roast today -Kev and Phil threw their hat in the ring with AFP as their top “blue sky” pick over next 18 months.

Need some Ngombo update as this gives us time to make the most of Zambia (and Kalahari)

Yes I read that , the proposed rail spur goes right through the nw Zambia licences pretty much

Yes worth remembering that we have a cash generating business that could be making £4-£5million netto per annum with the POSSIBILITY of a sale of Bushranger and a couple of very interesting exploration options.

Events in Panama with First Quantum show the importance of jurisdiction- BR being in Australia raises its value as much as any ore sorting and this will come to the fore more and more with increasing geopolitical instability .

A good hold or buy at a £10 market cap.

See below from Flipper56 0n GLR chat - The AFP and XTR licenses are on the line between that Bemetals Pangeni resource and Kamoa in the DRC.

https://www.bemetalscorp.com/news/index.php?content_id=180

https://www.bemetalscorp.com/_resources/reports/ThePangeniProjectTechnicalReport_April2018.pdf?v=0.676?v=0.853

The AFP and XTR licenses are on the line between that Bemetals Pangeni resource and Kamoa in the DRC.

GLR close too, very interesting area.

Colin looks to have a few numbers covered on this particular roulette table.

Thanks for sharing that CHRISP hadn't actually seen those, not showing on LSE for some reason - I'm sure those placing proceeds have been realised so gives around £800k cash equivalent as at june 23 plus whatever is incoming from sandfire

The last published accounts were for 31/12/ which came out 28th April showing 478k of current assets - no accounts published since then and obviously the £750k cash raise in June .

Correct nothing from sandfire as yet and difficult to say what that final “refund” will be

Reply to CHRISP at 23.46 last night

Fair comment that the AFP FQ jv might take a while to mature, but not sure where you are getting £400k in the bank from?

AFP raised £750k net in June and will also receive unspent monies from the Sandfire Kalahari work which should be £200k or similar .

Overheads are limited and there is little significant exploration going on. FQ is paying for everything in Zambia and there is the substantial Ngombo resource in Namibia surface level is being readied for production with partner negotiations underway (so we have been told). (A bit like luansobe here)

I’d say they have a good year of cash runway and if they can start to monetise Ngombo in that time .

But if I’ve missed that £400k figure somewhere please let me know where you see it 👍

Fingers crossed for GLR now

Https://audioboom.com/posts/8389369-midweek-takeaway-with-colin-bird-executive-chairman-of-african-pioneer-lse-afp-afp

Roast PR interview from this morning

Got back into this share the last couple of days - does indeed look like a no brainer. Read the seekingalpha page that someone shared here, hard to fault his reasoning that there’s a v big upside at Shanta

An additional bit of positive news today:

In AFP, First Quantum have entered into a JV with AFP on license 27767 (see their RNS). FQ will be spending money there on further exploration to obtain a 51% interest. They may also exercise their option on AFP 27770

Both of these licenses are adjacent to XTRs license 30459 - so it does appear to be in an interesting area.

All shown on the interactive Zambia ministry of mines licenses map.

A good RNS, clear and concise - very good to see over 80kg per month in July 23. If we can get anywhere over 90KG per month and keep the costs down the numbers will start to sing.

Just a question of using the proceeds wisely now!

Living on planet hopeful which is why I’m still in this share - but I take your point, pretty unlikely.

If we are generating even 7m net over next 2 years after overheads , I don’t mind investing 2-3m in a smart exploration program in nw Zambia .

Still leaves 3 or 4 m that should be distributed.

My main issue with xtr at the moment is the cryptic mumbojumbo that are our financial statements.

By accident or design ?

Either way I really really don’t like it - the financial reporting is not fit for purpose

As much as everyone was v disappointed that BR fell well short of what was promoted , this current £9.5m market cap is kind of ridiculous.

Some confirmation that we are indeed at 85kg plus per month gold and a clear demonstration of the net element that’s flowing through to xtr would demonstrate what a great entry point there is now and all the way up to 2.5p regardless of BR.

A million quid dividend wouldn’t go amiss either.

Well it did move the market a bit downwards unfortunately- I’ve got a few more sub 1p which I don’t think can be bad

Would it be fair to say we are due a kamativi update now as initial assays we’re going to zim for quick turnaround?

If they were looking very nice do we see a possibility of discussions already underway? I know the Chinese are very aggressive lithium acquirers at the moment

Looks like there’s a few people like you Money, selling out recently for want of updates and it’s a fair point of view - I think especially Luansobe news running quite late.

It strikes me tho that if you’ve been here 2 years it might be worth waiting another month or two. The kamativi results do look very good and lithium is a hot market so a deal could be in the offing. And as a few have said, the Zambian mining licences could come through at any time and I think we would then be able to get going straight away.

Obviously you might have a great investment idea elsewhere in which case good luck with it.