Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
I'm with you on that one Agent. There has been many exploration licenses granted and no RNS, also cash injection into the company, no RNS. This time the commitment to RNSs on both fronts.
A statement of intent and reflection of the directors attitude this season for GLR. Big things ahead and shareholders kept up to speed
GLR sitting good now. Cashed up, de risked for investors and enabled for the projects in the pipeline. License soon to be RNSd. This should be sitting attractive to the market now
I understand your point on this 3CB, but Luansobe has 60k tons of copper between 30 to 60m deep. XTRs bushranger is 100's of meters deep. The overburden of 30m in Luansobe is concentrated with enough copper at this price to pay for itself and require only simple machinery and mining equipment to extract it. They aren't comparable as they are different types of asset
18p maybe not, but would warrant many multiples of today's SP
Galileo in the Sunday Roast. Just skipping through. Landed on 1h 8 mins they quote Colin and Martyn have said thered no RNS as of yet about Luanosbe License as they haven't received the paperwork yet
https://embeds.audioboom.com/posts/8493525-sunday-roast-featuring-paul-johnson-investor-charles-archer-long-term-ftse-aim-investor-and-f/embed?link_color=55ACEE&source=twitter_card&utm_content=card&utm_medium=social&utm_source=twitter&v=202301
Ah well reminded about SFR/AFP CHRI5P, thankyou. Having the mining license to Luanosbe imo has solidified GLR amongst the top running Juniors in Zambia. A demonstration that they can take an asset through to production ready. The big boys spotlight will be on us. Its just how we carve ourselves up for sales. Everything that people have mentioned seems very plausible. (Sorry Sumo I wouldn't want £20m).
I'll take anything as long as it's lucrative, but my guess would be that it's kept simple for now. Luansobe will be sold with a royalty and the money will be put back into shinganda, and the Western Foreland. Botswana i have no idea, SFR own 5% of the profits from whatever is to come and CB will likely want his 7% exit strategy
One thing is for sure, I'm looking forward to seeing how it all unfolds
No doubt Sandfire will capitalise on this. They are worth nearly double than a year ago and a year ago they were raising billions of $ for re investment without even having earned a penny from the KCB.
Where will that investment go........companies they are already involved with. GLR, Cobre and AFP
Sandfire Share price up 56% in 6 months!
We original had
370,477 @ $5.2
I think we sold approx 1/3rd recently (I can't find the remaining number)
Now the Share price is up to $9!!!!
So we have recovered the value we sold and then some
They seem to be capitalising on the big mines that have previously been stalled due to bad management and Dept. Seeing the scenarios as an opportunity and coming in with a 51% stake buy in and helping with the debt. Mopani and now KCM.
The more money pumped into Zambia the better. The more competition for all the assets. The monopoly game and land grab is picking up pace
Hopefully Iky. Surely this license solidifies whatever plans we had in store for Luansobe. So if not an RNS for the license update, surely one is to come soon about the strategy for the asset. Or even better a "blow the doors off" bit of news about a sale or lucrative JV
The Minkng Cadastre has now been updated with "Approved for Granting" for the small scale mining License over Luansobe
https://twitter.com/Sharedata12/status/1781442869888250112?t=vA9w-YOglj7tig4-qnEDyA&s=19
This is huge now. Can't wait to see what GLRs next move is. 60kt of Copper in that asset
Me too. Possibly a variation of deals we have seen before. Sell off the small pit and the business model of deep extension post pit exhaustion. As part of the contract the "buyer" funds an expert at exploration "GLR" to explore the deep while the shallow is worked. 51% GLR, 49% buyer initial split for the deep section. As GLR proves up a resource, the dependent on contained copper, the % ownership changes on a sliding scale. Say ending up at 80% buyer and 20% GLR if there is XK tons of contained copper. Much like the AFP/ FQ arrangement for the North West Foreland. Little downside to both parties that way
Hi Coyote, same on my end. It won't load. It was 3 parts originally. Whe whole exploration license, then 2 small scale mining license apps. The top or most norther we can easily see is the smal pit as it's the same shape as the reports on Luansobe. The middle one is what we assume to be the deep small scale mining license app
I have temporarily posted a summary on twitter from my old screenshots. It very well could have changed as the cadastre is not known for its accuracy
https://twitter.com/Sharedata12/status/1781037168674160904?t=yve-NZRZFjR-9wLm9mlIvw&s=19
I'll delete the tweet later tonight or once you say you have seen it
I have an old screenshot of the licenses
34542-HQ-SML is starunga (now deferred) but is not related to GLR. It was coincidentally applied for at the same time as Luansobe but was in fact to the south east of Mulufira.....so nothing to worry about. Unfortunately for them it was at "validated pending approval" before it was Deferred
LUASNSOBE
Shallow - mining license app is 34543
Deep - what we were referring to deep mining license app 34545
The cadastre is very "sticky" at the moment so hard to load them up
I'm on a similar mind set as you Money. The 79th mining licence Comittie sat 11th-12th April. So the GLR team have been sat on this for a few days now before we got to know about it. For the 3 years I have been investing in GLR, we have never actually been granted a mining license, so this is new (but excellent territory). We don't usually hear about exploration licenses granted.
However
A mining license is literally the key to unlock absolutely all that hard work that has been put into the asset so far. Millions of pounds and 2 years of time. Surely we need to celebrate with/update the shareholders on this huge turning point.
Also there surely is a forward plan now based on the succes of this unlocking of the value in the ground. Sale/mine etc etc.....a huge update is just waiting behind the scenes. Put it this way, we aren't going to do nothing with it now are we :-)
Hi Coyote
By coincidence it is on this screen shot of Luansobe (west). The G-Tec license is to the east. It is the larger of the 2 concentric squares in the purple large scale mining license that is Mulufira. Amber larger quare, clear inner square
Or type the number in the search below
https://portals.landfolio.com/zambia/
It was worth re visiting the calcs again that you posted. A picture that improves as the copper price continues on its rally.
All lining up for a sale imo. The mining license can't be far off now
On another note, 3 more weeks until the Glenover cash injection £2.1