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The Land grab will come gents. 253 will be bought of us simply to stop any other company taking it in a monopoly. AS the PLs either side become more valuable, that will bring up the value of 253. "Money for nothing and.......

I like your thinking CHRI5P on 250 and 251, 366, and others. Sandfire chose to keep them for a reason. 250 and 251 are spread out in and around T3 and A4. part of the deal was that SF had to spend $2m on these licenses alone. Although i think we let them off with that as COVID hit and then their Plane that does the airborne magnetics broke. More browny points in the back pocket for us. we may even get offered an early "cash out" of our deal. more options for us

This is a harsh spread, MMs wanting the brakes on for now.

253 we still own and is definitely one of my favourites too. it cant be in a better position to be bought our by BHP/Sandfire/Cobre

Last years AGM they muted conversations were being had at that point. that was before the recent success of the Kitlanya projects from Cobre

we are in all the right places, we just need to ready ourselves for the land grab/asset grab when copper goes through the roof

Jan 2021 RNS l, states a success payment of up to $80m is due based on Sandfire finding 750kt contained copper in the licenses we sold them. It's a sliding scale from $10m at 200kt to $80m at 750kt

Nearly 4 years in now, we are likely due an updatein the final results. We were told its a slow process so 1 or 2 updates a year is the norm.

I'd like to know what documentation is used at proof for contained copper. Estimated resource document, inferred resource, or JORC. The first.ofnthe 3 is better for us

Great news! the more success on the KCB, the better reflection and value increase on all PLs close by. We sold PL366 to Sandfire and subject to an $80m payback. PL366 is 1.5km to the south of ARCM PL162. drill holes in 366 have already shown visible copper in hole BDDD004. That central area of the KCB could be the next hot spot

CBs contacts were one of the main reasons I invested in Galileo. He has his feet under the big boy table in Zambia. Close ties with the Ministry of Mines and Zambian government (the ministry owned 5% of Starzinc), FQ, Jubilee......now IRH (Mufulira mine). I believe he has contacts with Ivanhoe as well.

Mufulira being just 7or8m away and having the ambition ot does, is a good thing for Luansobe. They won't quadruple copper output simply by extending their current mine. They need surrounding assets like ours.

JLP also in bed with Mopani. AGM feedback is that we were talking to IRH before they bought Mopani. There's something going on, Leon, Colin, IRH etc

Let's see how the rest of this year unfolds, I imagine we have learned from SZ and have a mote watertight arrangement in place with Luansobe

Final results are due next week (maybe the following monday) for period ending March 2024. The "post review period" sections will be interesting and sometimes its what's left out is the tell. Last October and November were good for RNSs, hopefully the same this year

The contract appeared sound. We recieved $83k and then another $140k odd pending assays after that. The mine was sold to Siege at risk due to the proximity of local housing. On an Artisanal mining License. It got shut down temporarily due to blasting showering the local settlements with rocks. From what I could tell there was a big dispute locally. (Google starzinc mungule road, youtube , fb and newspaper articles come up).

The mine then continued to operate from what I can gather illegally over covid. You could see this on Google maps and sentinel viewer (videos on my twitter). Probably brought on in desperation of the mining company Siege and needing to pay off debt. They eventually got a small scale mining license amd the mine operating legally, but by then all respect for our contract of several years ago, likely gone. I take our reluctance to contest this through legal means is probably due to the people we are contesting having no respect for the legal system. I'd imagine some corruption along the way also, rocking the boat could be costly and risk us being black listed on other licenses we have/need in process now

The mining cadastre in zambia is volatile to say the least. The deferral will be rectified quickly by the CooperMelon team. The same happened with Shingandas large scale exploration license when they were renewing.

Final results soon. I feel something brewing. Initial drilling results shinganda, Western Foreland drill results, luansobe next steps, bulwayo and Kamativi next steps.

Not long now

Final results this week or next. We could likely understand more around how Luansobe will be carved up over the 2 mining licenses on it. The recent one certainly wasn't submit at the expense of, finances, time and effort for nothing.

Also there shouldn't be a reason why drill results from Western Foreland haven't arrived yet, it was only 700m. Could be this week also

Excellent find Analytical! I think we could be expecting news to follow shortly of the JV now this is through. Just like the RNs for the initial license, GLR won't have wanted to release information until they have the letter for second license which then allows them to press the button on 1 of the various option they have been deliberating over. Exciting times ahead

Hi BS

I went to the AGM last November, i did a couple of posts on the info that was spoken about during the AGM. If you click on my name and scroll back that far you should be able to see them still. in the AGM members of the Board spoke about offers and interest on Lu as well

The question now and I hope soon to be answered is "what are the next steps?" I believe no lore drilling in the short term until the small pit is firmed up with releasing funds. Modern digital modelling with the 70 odd drill cores we already have will do. However I think we will be testing 550m next when it comes to it. A quick bit of research shows an open pit to go through the below for a mining schedule to be created

We appear to be mid way "2"

1. Data Collection & Analysis

Geological Data

Surveying

Drill Samples

2. Design & Planning

Pit Design

Equipment Selection

Infrastructure Planning

Processing Constraints

3. Scheduling & Simulation

Mine Scheduling Software

Detailed Scheduling

Iterations

4. Review & Optimization

Internal Review

Financial Modeling

Adjustments

"External consultants have been used to generate a mining schedule for internal planning and more specifically to facilitate the process of obtaining mining contractor quotations and to provide the basis for negotiation with third parties currently offering a range of participation scenarios to jointly develop the Project."

Way behind on all the BB messages.

For the open pit part, a few good bits to pull out that make the extra wait worthwhile (rather than forcing mining now or sooner)

As predicted from the drill cores, the overburden has copper in it, making it processable and pays for itself

A better model will confirm cut off and depth which can affect contained copper by 75%.

Both the above make a huge difference when setting up a contract with 3rd party miners. Example, they take 100% profit until their initial outlay for overburden is paid off + "X" % ( free overburden is then worth understanding. Also they get 10% (making these numbers up) of 40kt copper or 70kt. The latter we would offer lower %

Disappointing we aren't where we wanted to be, but definitely worth getting this right

Same FS, Final results should he in approx 3 weeks. Although I really hope we get separate updates for each project. Bulking it altogether in final results takes the shine away from progress made

Nice action today!

Nearly 4 weeks since drilling started in the Westernforeland. We will have completed the full scope of 700m easily by now. Which means we could be updated this week.

Seems there's cause for celebration on one of those drill cores in North west Zambia tonwarrant a photo with it?

https://x.com/ColinBirdMining/status/1823423352234762289?t=rufOB6U2bogzcrYSPBGu9Q&s=19

Cobre on the move again. They are proving win and win at the kcb. Expanding exploration into their northern territory now. Just like their westerly licenses and our PL 53, we have PL40 next to where they are enow drilling. I can see more collaboration between them and us. They are drilling 1900m in an area we have already put a similar amount down. I can see Cobre being the next big buy out in the KCB . Their succes reflects on us though also. Out licenses automatically become more lucrative alongside theirs