Movement over at Shinganda. Great news for us with the large scale exploration lisence being renewed (under Garbo resource). we have a major interested in this asset and the market has previously liked our progress with the test pits and drilling, producing good copper and gold results.
https://twitter.com/Sharedata12/status/1673263153168228355?t=UBEu-7JyLx889WjmfC6Tew&s=19
Drill rig en route
https://twitter.com/ColinBirdMining/status/1669255276489240582?t=HKjdw5bGYRMbLBwlmgkQrw&s=19
Information found at
https://www.mmmd.gov.zm/?p=2559
Agreed Analytical @ Cyberia
Here is a link to the Afrimat news update of the same deal
https://www.sharedata.co.za/v2/Scripts/News.aspx?c=AFT&x=JSE
I think also we all have to remember we are a minority share holder in Glenover Phosphate, being bought out by Afrimat. CB will have a minority influence( if any) on the deal. Disappointing the whole £5.2 in cash isn't arriving in one go, but then again we would be incrementally spending it so does it matter in the long run. £2.1m to arrive in 9 days will give the SP a good boost as it has done in the previous tranches, albeit they were cash. This route de risks the money coming to us and the way Afrimat are going they are doing takeover after takeover so they should be worth alot more in the months to come.
Something went un noticed it feels the other day when you posted a link Analytical..........a picture of Colin and Martyn ib SA looking at earth moving contractors.
The other companies quoted in the # have no requirement for them. Great insight for us at GLR.
Every source of info is useful when you look deep enough and join the dots. Altho your main source is what you read of bulletin boards and you get that wrong most of the time.
Colin posting about a mobile drill rig on shinganda would previously be un known if not for twitter.
Flipper/Analytical, I think this is a good indicator. "Full steam ahead", CB down in Joberg and posting about drill rings in shinganda. He must feel safe to do this, maybe a sum of £5.2m getting closer he knows about
Iv seen that somewhere Castiron, just trying to find it.
China’s Zhejiang Huayou Cobalt recently announced that it had agreed a deal to purchase 100% of Arcadia for US$422m.
Arcadia is in a pegmatite crag, kamativi mine and our PL is also in a pegmatite crag. This is one of the reasons why CB is comparing them im terms of lithology. The Kamativi tin mine closed some years ago. However, in 2018 Chimata Gold Corp (Zimbabwe Lithium Company) announced a new JORC (2012) compliant Indicated Mineral Resource of 26Mt @ 0.58% lithium within the Kamativi mine tailings.
Since we border the mine, we are also in a pegmatite crag and have 1000ppm lithium in surface grab samples. We could end up drilling into a very lucrative lithium resource......tin probbaly as well.
0.58% lithium just in the tailings next door, the chances of higher grade in our underground drill samples is quite high
Also it's open cast mining, so cheap to get going once the resource is firmed up. You can see why this appears to be one of CBs favourites
Great news Sandfire are further investing in the Kalahari. The Monopoly is starting. it is no coincidence that this news is released now they are just starting to produce concentrate. the fact they are on the run up to revenue will have allowed them to raise the cash. This is really good for us, and other companies affiliated with them. They will be wanting the key areas in Botswana next. PL040 and 039 are already next to CCCs Zone 5, soon to be Sandfires Zone 5. We also have 253 next to their T3. Cobre are likely to be next in their buyouts.
We also have Bulwayo, which reading between the lines from the interviews and other contacts with CB, seems to be his favourite asset. There's also plenty to go at with that. I think we see still outstanding assays too
That would be the best way to milk every drop from the asset I suppose. Multi bag on the open pit, use the funds to prove up the deeper resource and sell on nearing end of life of the pit. The fact we have options is the re assuring part.
It's been quiet for a while and I di t believe for 1 minute the project has been sat Dormant. I'm looking forward to hearing what is coming next for it
Luansobe for me is still the "Jewel in the Crown". Zambia is investing as much as it can into the Copperbelt region and has held another Expo. the Chinese are taking more of a grip. Luansobe is certainly in the right derestriction at the right time while the money is being spent.
IMO, the mining license needs to be applied for in terms of the open pit and the pre strip complete. at this point, 500kt of contained copper close to surface i believe will warrant a £100m price tag as long as it has all the right permissions previously mentioned. We could be looking at £25m a year for 6 years if we continue to mine ourselves selling ore to JLP.
id be happy for the sale. meaning 9p sp
my prediction
taking into account the 75:25% split we are still 3 fold profit at 1%. those are good numbers. for the stage 1 open pit aspect i'm expecting updates on this iminantly. in the mean time you can see jlp letting put snippets of info.
leon c stated in the last jlp rns that they are still pushing hard on the copper expansion (rns mainly about cobalt), so looking good on that front also for our most likely customer for the ore. jlp 22.5% up last week. if they do well then increases our chances of success as well.
sandfire also up last week to over $6, 15% profit from when we acquired our $1.5m in sandfire shares.
ka****u with 3 liscence apps over the top all at "app" stage and trucks and diggers visible on apple maps.
things coming together if you know where to look to get ahead. just need that all turning real for the market, which it will and a profit for those taking positions early
Https://www.moneyweb.co.za/moneyweb-podcasts/moneyweb
Yesterday: Afrimat integral asset manager mentioning Glenover in the sense of Phosphate, vermiculite and rare earth's. The latter 2 of which we will get paid the final £5.2m
This shows they are wanting the acquisition and is a paperwork excercise to complete.
It's comforting to know that the Afrimat team have already successfully completed 8 acquisitions in Africa already, so Glenover would be the 9th
I get the gist thats about right for some of the otherr companies reading the BBs, altho I haven't researched finances myself into the data sheets etc. It can't be far off now the £5.2. The competition commission has authorised it, just the South african regulatory body now. Fingers crossed for us. This money is the catalyst for all of our other projects.......luansobe being priority to get monetised
https://twitter.com/Sharedata12/status/1654549748030775297?t=HUZJ41UMVxlU_gGs7q6OHA&s=19
100% Castiron. Hopefully now Sandfire is producing copper concentrate from T3 at Motheo we will see the SP increase in value