Member Info for cyberiachas

Probably makes more sense for Sidara to short Wood group - then their 85p offer or whatever looks a lot better if we are languishing at 35p. If they bought a meaningful % on the open market the price would shoot up and they would have to offer more overall.

Good to get these updates. Very early days in NW Zambia but at least things are moving forward.

Silverking looks pretty interesting and could be set up for fairly quick development as set out in the initial announcements about it.

I'm sure the NW Zambia budget is pretty constrained, rightly so. This drilling is a sideshow until we can monetise one of the larger assets.

Better that we get the update even if there isn't much to say, very early stage.

I'm hoping the very real focus is getting Luansobe into a sale or production position.

I've added a few this morning - the blackstone shares now worth around £5.8 million - BZT market cap around £3.5 million.

appreciate it could easily drop back 20 or 30% but when you look at the gold and copper there it is really very significant - gold alone has in ground value > $25 billion. shows how aim values companies very badly sometimes.

even at only a 50/50 chance of hope and gorob producing in next 18 months this share is a very good punt I think

I think there are plenty of question marks about GLR but delisting seems v unlikely to me. We have a decent level of cash and the potential for a good deal in 2025 especially at Luansobe. There would be a matched bargain facility if it did happen to delist and personally I would probably pick up some cheap shares at that point (if the business situation was the same),

personally I think that in your case you should wait a while longer given how long you already have. IMO but you did ask

Tbh the most likely story is that Monty is in fact...Colin!! (or maybe Hzap)- what a great piece of misdirection away from proper questions about strategy and where the money is being spent

cheers

R Friedland

Just had a quick look at Monty's posting history - investing in hi risk companies, getting into nasty vendettas with numerous folks when it goes wrong and clearly gone the full Monty on this occasion - filtered

As for JDAU I can vouch that he's been here since the alluvial gold deposits at Manica started forming

Definitely agree with you that the market is giving it a zero value

Tbf I was only quoting someone below who mentioned that number, I don't really know, but could be that over 2 or 3 years, there must be costs associated

Have to disagree with you when you say BR is worth nothing, even now.

If there is a 20% chance of copper being over say $14k in 2 years time (in the view of a major) and at that price the asset is worth say $300m (an arguments sake number) then there is a current EV of $60m. so a company that wanted to improve their balance sheet could consider taking it on for $20m or $30m

That's only one way of looking at it, but with the lack of new large scale discoveries even with low grades like BR, and the lack of significant new discovery discovery drilling going on BR could still have its day.

However personally it is NW Zambia that interests me and we have some well very well positioned licenses.

We don't have the cash or management time to do anything with it and it saves $100k per annum in expenses for BZT. All that matters here is getting the full mining permission at H&G and getting digging for copper.

I think I see Andrew's point which is that the flexibility by xtr makes the sulphide development more possible which gives us a better chance of getting that additional $3m ? I would think at least some additional interest amounts should have been added tho

Thanks Data - a grown up post!

I agree with you that there won’t be much news on glr until potentially a deal is made.

I’m not sure I’m that bothered about a bit more drilling here and there or plans for such.

We do have an oven ready project at Luansobe, so presumably the Boards focus is getting a deal done on that asap.

If it’s such a good and accessible asset why not just get on and start working it ourselves as promised last year?

Just hoping someone comes along and offers us $100m is not enough of a strategy given how long the wait has already been.

Yes it is essentially all about the asset but there has to be a management team in place that drives that to value either way - at the moment there is huge scepticism that enough attention being paid to that.

the upside for a brave investor is that if a deal does get done the upside is multiples so a good entry point potentially.

For me the Manica deal wasn't the worst as it is a relatively secure cash out from a difficult situation (which wasn't set up very well).

Bushranger - no comment

But I do have a big problem with the fact that there has been NO update on the NW Zambia drilling RNS from 30th July 2024 - here's the quote:

"Our work on the NW Zambia exploration licences has been very progressive to the point that we have identified initial drill targets which we expect to commence drilling before the end of the third quarter this year."

We are now nearly 5 months beyond the end of Q3 2024 and we have not had a word about this situation.

That is no way to run a company - apart from into the ground - note current share price

I'd be interested in the stat as to what percentage of mining licenses turn into an actual mine. Less than half I would imagine.

Luansobe: Good resource (but not big enough for a major), good location (in African terms), good macro environment currently. Whether any of that means a sale of the asset happens in 2025 or 2026 is debatable unfortunately. Hopefully someone with deep pockets is interested.

If CB manages to get the mining process started over at BZT on the Hope and Gorob mine in the near future that would concentrate the minds of interested parties for Luansobe IMO

Agree with you Prickly, we are well set up now here at last, I have been accumulating recently. £4.2 million of shares in blackstone (TBC of course) with probably at least £500K cash with a market cap of £3,9 million and awaiting final bit of paper to commence work at H&G.

No idea what the manganese might be worth but assuming nil or rather a small minus.

Having said all of that I wouldn't be surprised if we are still waiting for H n G confirmation in a month or two's time.

A LOT of buys going through but also a lot of people making a quick buck on the placing I guess

Some enthusiastic buying here which is good, being counteracted by people dumping their .02p placing shares, not so good

Agreed NTM I’m not sure we should have an executive chairman in place that can’t bring himself to buy £50k of shares in his company that is worth 10% of what it was when he was pumping its prospects to the skies.

If he can’t see the value at these prices why would anyone else.

Just seen that Blackstone was 36% up overnight, so somebody is liking it.

Mr T fair to say there won't be any significant share rerate here until that dratted piece of paper comes through - plus thee announcement of how the financing works and that its in place.

I'm also sure that as a 20% + shareholder in Mankayan bzt would have had a say in the way forward. Personally I think its a good thing its in the shop window and held in a public vehicle that investors and potential buyers can eye up.