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Good work Coyote

I believe we are outstanding further assays from the 2000m drilling programme.

From starting in Sept 23 we were reported 8-900m drilled in November

Hopefully they got most of the remaining 11-1200m in before the wet season

They seemed to ike the look of hole 17

I think you're right HD, 26mt and 0.58% on surface at the Kamativi (ex Tin) mine, just "over the fence" we are getting drill results of 1-2% less than 60m deep.

Im 100% certain in the AGM it was said we had spent over the £1.5m commitment on Kamativi and Bulwayo. Iv asked Joel recently to confirm if that now means we have our extra 51% as per the contract. He said hes travelling for business in southern Africa and will get back to me once he is back.

if there is $1.4 Billion being spent on Kamativi mine and processing plant, you can bet they will have done an analysis on when the mine is exhausted and where is the next ore is coming from, and/or how to get more ore to mix with the 0.58% to enrich is. Martyn was "....going to a meeting...." aftrer the AGM. a few week later Iky gets the first of his tests from his source

Good points Iky and my thoughts too. They also have first right of refusal on the rest of the licenses to buy and a chance to invest further and put a member on the board of directors. They wouldn't build that into the contract if they didnt think the company would be expanding.

My personal thoughts on the KCB now, are that it has stepped outside of the original agreement and some "give and take" deals are being done. SFR had to spend $4m on "sold" Licenses on 2 years from the transfer date (which has lapsed now) and a good proportion (50% ish) of that was for specifically drilling PL250 and 251 which are closes to their T3 and A4 expansion and Cobres Kitlanye (and our 253 as we all know). if they didnt spend it, then we would receive back the delta from the $4m.

in the half year results we got an update on each of the "sold Licenses" and in relation to 250 and 251, there were no drill updates as said in the contract. In the AGM Martyn was telling me that there were problems with SFRs AGG survey plane and it had been getting repaired for a long time (I'm sure i mentioned this in my update from the AGM around October November....but hasn't become poignant until now). This is probably why there are no drill results on 251 and 250 as there couldn't be an AGG survey to direct where to drill.

however on the flip side, and this is just my opinion, now they appear to be flying again, they are giving us results on PL253 for free (most likely in payback for not getting as far on 250 and 251 as they should have). I imagine though the essence of the original deal still stands and they will drill 251 and 250 and we need to see the results when they arrive albeit delayed

all imo

Your behind the scenes hints fits in with this article Iky

https://www.google.com/amp/s/www.herald.co.zw/remodelled-kamativi-mine-back-in-business/amp/

Chinese company and zimbabwe putting huge effort into lithium in kamativi and the mine and processing plant expected to be opened up by the president this quarter, particularlythe open caste mine section. 1.4 billion project. A simple Google of kamativi zimbabwe and there are multiple articles of the town of kamativi once again becoming a boom town. CB must surely have got in there with our Kamativi new discovery. Seems like it's just a matter of time for us

This is very interesting. A major giving away money and advice for free. Total 6 small cap companies, at $0.5m each to create a cohort. No obligation either....apart from what seems like a moral standing to continue to work with the major post the period of collaboration. This shows that majors are sniffing out small caps with an appetite for investment.

Maybe a similar mindset with kamativi and the hints thag Iky has been able to get hold of. In comparison, kamativi is way more proved up that cobres assets (understand they are copper and lithium and in different countries....but by comparison we are further along the exploration journey). What offers must we be getting:-)

Ps Iky, thanks for your posts. Personally I think you made it quite clear that something has been achieved but it is completely out of your hands on when the market will officially be notified

I think that could be the case CHRI5P. Alot did happen in kamativi and bulwayo at the back end of thr Yr. The AGM was November and the RNS reported up to September as you say. No info in the "post period under review section" which would have been the ideal time to mention the expenditure and the increase in holding. I'm not particularly worried, just asking to have it cleared up

Hi AgentSmyth

I contacted Joel on Whatsapp regarding our holding in BC ventures, he said he would email back and im still waiting. ill chase him up.

at the AGM, CB definitely said we had settled our expenditure on Luansobe (£4m), Kamativi (£1.5m) stating we had actually spent £1.75m, and Shinganda (£500k)

so by rights, we should now own 80% of BC ventures a stated in the 24th July 2023 RNS

the half year report on 28th December never mentioned the above and still spoke in the past tense as if we still have to spend the money to gain the remaining 51%.

ill feed back on the BB when Joel Confirms

Thats on Luansobe

That's right, i predict 9 months from application (sometime in Feb) until we see movement on the cadastre. this is from looking at the cadastre most days and seeing other licenses progress and drawing a gut feel duration. it seems to fit, as CooperMelon are drawing up the Pit design now and that is one of the last things required for the application.

A good article released today by Zambias ministry of mines

"PROMOTE SMALL-SCALE MINING AS IT HAS POTENTIAL TO GENERATE MORE LOCAL JOBS AND SUPPORTS THE RETENTION OF EARNING WITHIN THE COUNTRY"

Luansobe small scale mining license springs to mind

Full article below

https://www.mmmd.gov.zm/?p=2670&fbclid=IwAR2LY8NKSqPLf-ol_hroxDF1G2xIO2YDp9IQFRCM3YhWk1OsXl70NbYof8s

Thats my thoughts to CHRI5P. We see this share oscillate from under a penny to 1.3 on nothing, so no need to panic. 13% up this week still and plenty more to go. Every week brings us closer to what we know the directors are working on

We are probabaly getting close to the time Assays coming back from kamativi drills now as well

Good work FS!

Xtr also up 20% today.. maybe off the back of the same rumours of Colin going to Africa. Where there's 2 lots of skoke........there's a big fire

Looking good here. Having spent a few years in this share it usually behaves like this before some official update. Indications are looking promising of IKys snippet of info

Rumours of Colin in zimbabwe, AGM info of meetings being held discussing assets with potential buyers. AFP interview plugging luansobe in relation to Mopani and MMs taking on shares

Something is bubbling in the background

I think someone has said this before already. The £2.2m afrimat money comes In April. From now until then it is the rainy season in southern Africa and the majority of our work and progress will not be on a table top reviewing data and making deals. I'd expect little operations and little expense, so the 2 tie in quite nicely.

I have just had chance to go into detail on the interim report and look back at the March 2023 financial results to cross reference. £1.4m cash down to £88k in 6 months and some sandfire shares reduced.

Agreed in Sept inly having 88k in the bank I un nerving. During the AGM when asked about cash CB replied we had enough to allow us to do what we wanted well I to next year. He also said they wouldn't let the treasury get below £0.5m and that if needed they could sell shares and confirming with Joel that they could "get their hands on the money" within 24-48 hours. .......this would be the preferred option over any sort of placing.

The above seems to add up, as in the day in the AGM there was no mention of having sold any shares, so I believe to be a recent thing. Brinign us back up to the £0.5m ish.

I specifically asked about expenditure commitment in the AGM which was £0.5m on shinganda, £1.5m on BC ventures, £4m on lunasobe. The reply was we are all settled with that and infact we are on about £1.75m for BC ventures. The only outstanding commitments we have is for the new license in North West Zambia of £750k for phase 1 over 18months

The "post period" sections does not explain this at all in the report which I believe it should have. Iv messaged Joel and asked for confirmation.

I also too would rather wait for the right climate and a good deal for Luansobe. I believe the directors when I saw them and that they were shifting to sale of assets mentality and genuinely trying to do their best.

From looking at the zambia mining cadastre (constantly) I feel about 9 months is the time it takes for licenses to display some sort of change. That would make end of Jan early Feb for luansobe mining license. Not essential for our sales strategy, but it would sure help imo. I also asked Martyn about how negations of sales work. Example if I was a major, I would jjsy put low offers in on assets or just wait for the minor company to run out of cash and get desperate and then take advantage. He said it isn't like that and there's demand. If there's an interpretation of "greed" I feel its because we are sitting in a good position and we want the best so why not hang on and see what the next person around the corner would offer.

Jlp should be getting a good deal out if luansobe. 60k tons of copper at $8.5k ton copper means gross $0.51bn in the ground. If it costs them $4k/t to process then that's $240m gross profit for them.

That means we would want to sell luansobe open pit for a share of that value. 40% would be €96m

Analytical, It was definitely the value of the rock in the convo.

Aeris, I understand what you means. JLP paid $30m for a big pile of rock that contained copper. If they could extract the copper for free they would have another pile of copper that equates to $8.50 per ton.

The process challenge they have is to make that second pile of just copper as cheap as possible and their limit to do this is $4k for every ton

Ella

That's very interesting. At the AGM, CB said he had been in talks with (at the time) both would be bidders for Mopani. Now that's IHF, we know CB has been speaking to them :-)

It would seem so. The 6mt over the life of the mine comes to a high value still only at $9 rock

I'm confident something is in play and that we are getting the best deal possible which takes time