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Lithium is definitely flavour of the year

£1.5m spent on the project nearly and we are at the time of seeing what we get back for our investment. Could be 8 weeks away if we go by some similar assays times from PREM as a comparison

I personally feel its worth the wait and to look at the bigger picture.

The environment: China building 2 new copper smelters in North zambia, mopani being bought out and chambeshi smelter being made operational again (15km South luansobe) 4 smelters around Luansobe means 4 customers .USA, UK, China investing billions in helping zambia increase its economy (see article below)

https://thediplomat.com/2023/09/china-and-zambia-a-new-chapter-beyond-debt/

20 year deal re structured by China for debt with initial 3 years no payment required. What is zambia planning on doing in just less than 3 years?..... Coincidentally increasing copper from 6-800k tons a yr to 3m tons. Zambia needs this to happen, it needs copper assets.

We have copper assets. we are cashed up to span the duration of sale/get into production.

All of the above aids our mining license app on luansobe. It's just a matter of time imo.

Ontop of this, the 20year dept re structure from China shows to me that they are looking that far out planning. This means our deep copper asset part of Luansobe that could take 8-10yrs to start production is a viable asset for sale today. Even better for us as we aren't reliant on getting just the pit monetised to get profit from our asset.

The MMs are starting to be generous now. The spread is 5% and price below a penny. Perfect buying opportunity. We'll be back up to 1.3p in not time

agreed, ka****u and luansobe literally just waiting for a mining license. in the mean time we could really so with a "next steps"

ka****u had a report released stating it had made an initial pit analysis just 3m deep, 250x300m and high concentration of zinc. we know a contractor has been in ans scraped the top off an eare already with pics from the same report and satalite. what is the offtake agreement with the contractor? where might the ore go? iv dome some research and zinc ore is at a shortage in zambia. they are having to import in from the congo. we know our ore is in demand so whats next?

luansobe- cb said we have a south african firm waiting to work with us. again just waiting on a mining license. last formal update was a block model was being updated. what's the next steps? what's the offtake agreement?

i feel these 2 assets were left out of the operations update for a reason that's market related and not because there's something sinister lurking.

kamativi same as above. the market seems to like kamativi and reacts well to any news. so far we are spending £1.5m to increase rhe value of the asset and only getting 29% of the value back. in july that will jump up to 80% and will affect our mcap immediately.

we have been down this low before and then one day we just rose to 1.5p and then again down below a penny, and then one day we just rose to 1.3p. i'm not particularly worried. frustrated that we can't seem to get the market to realise the value of our assets and hold it there maybe, but not worried.

I'm with you CHRI5P, KCB update or Kamativi assays from the remaining drill cores

Hard call, it must be getting compressed in the background and will come all at once for all the assets

agreed, everything is coming up together and at the same time. ka****u, luansobe, shinganda and kamativi, all steadily chipping away.

2 (laun & kash) of then waiting on mining licenses so focus being given to the others in the mean time.

the luansobe mining licenses were submit in march this year, i have a hunch this is what cb was referring to in october. he has been in sa and got a contractor waiting and ready to work with us. this feels like the big news but out of our hands at the moment.

This is great for us, the more lucrative Ngami, by default the more our PL253 is worth

the zinc went somewhere, that's for sure, as we did receive a payment of £86k at one point and £300k was on its way. i remember cb saying initially the payments were delayed due to assay checking at the vendors

my calc based on purely the artisanal aspect of ka****u was using prevous formulae known to have been the set up with sz that both we and eventually siege were involved in. sable would have been ideal, but what we do know is siege had/has plans to get up to 16000tons a month trucked from sz to whatever their supplier is. i did a ballpark figure of 20000 tons a month for ka****u as the zinc is only 3m deep (as apposed 2p-40m for sz), it's literally on the surface in mining terms.

what i find really interesting about ka****u, is they have scraped off a large proportion of overburden already and trucked it away

you can see this if you zoom in on google maps.....or the picture bottom right on the below link

https://twitter.com/sharedata12/status/1647623667155628033?t=m1dwk0awumpig5r856qupw&s=19

they wouldn't waste their time of they didn't think the license was imminent.

Upon checking, I think you're right Sumo. The website says Zinc is under review at Sable.

Agreed, it's huge! Imo the start will be paced by the ability of the artisans. Once into that process, the taps will open for the full 5m tons

We will also have it proved up at that as well so benefiting us 2 fold, revenue from the Artisana and multibagging, and proving the asset up......similar to luansobe plan but all alot closer to the surface

For what it's worth I actually think the average concentration of the small near surface pit will be about 25% this would give us £75m

some great numbers there analytical.

here's my spin on the short term artisanal aspect.

initial pit

250x300x3m deep

zinc price £2650

average concentration 15%

225000 tons of rock

33750 contained zinc

50/50 split profit with artisan (as was the arrangement with starzinc)

£45m to glr

20000tons a month trucked to sable (owned by jlp) 7km away. means 12 months until the initial small pit would need extending

https://twitter.com/sharedata12/status/1709996290556203352?t=hzmlbya9dfgd2zhjmeadlq&s=19

then we are onto the huge numbers. ka****u is truly massive, so there is plenty more in the asset than what my small calc shows. i think a small scale mining license will be applied for in parallel to the small scale artisanal starter pit.

It's not really interesting, MM has purposely left out that that African Minerals is holding the shares in the lock up period on behalf of Carboda....... who owns the other 71% of BC ventures (Bulwayo and Kamativi). We own 29% and have committed to spending $1.5m on the asset to raise our stake to 80%......they are our partner in the joint venture.

Carboda can't do it on their own with BC ventures therefore they need us. If they sold up now they would be making a loss as we gave them 50m shares at a price of 1.2p. Also, If they were interested in cash they would have stuck with the agreement in August 22 and not the addendum deal in October 22.

There is Lucky, the Roast guys set it up.......it is very quiet. you could try emailing the Audioboom team or if you add me on Twitter @sharedata12, ill PM you a link (im sure ill be able to figure out how to do it)

Unlucky this time on the License report. strangely Shingandas Large scale exploration license wasn't on the 75th update, but you can clearly see it awarded on the mining cadastre. this just goes to show that the license could drop any time rather than having to wait for the 76th update

it feels like its all lined up for ka****u

every time i watch a presentation from the zambian mining minister he mentions prioritising artisanal minors so locals can get benefit from their country's resources. we have 3 artisnal mining license apps over ka****u and there is 3 more over the old kashtu footprint (we had to give back 50% of the area as part of the license process) 1 of which has been approved for granting.

it shouldnt be long now for ours

i think you're right analytical. for a time on the mining cadastre "dec 21" siege were referenced as the name on the small scale exploration licence request over ka****u

see below

https://twitter.com/sharedata12/status/1467200499996934160?t=26oczyrbodv0bzyvmiz_dq&s=19

i don't believe if the relationship with siege had gone sour over sz we would have worked with them or be working with them on ka****u. we must have an arrangement, what that is i don't know. iv messages joel asking

Https://twitter.com/Sharedata12/status/1706006772228505957?t=qPLyhHS0rrdv8ecB2Gc1Qw&s=19

Here is a time lapse of sz over the last 4 months from sentinel viewer. You can clearly see the asset is being worked and getting deeper.

I have messaged Joel asking for an update on the royalty arrangement. I believe Colin is too good of a business man to have written off complete. I suspect it is a temp pause until Siege fine their feet. I think also the rock will need to go to a buyer and assay approval etc etc which takes more time than us share holders factor in

BFG, Analytical - I agree

that's all i know about SZ. CB once replied to an email of mine noting the difficulty with the proximity of the locals. however since then the small scale mining licence has been awarded and using "Sentinel viewer" and comparing pictured over time, you can clearly see the mine is operations. SZ is mentioned once in this years final report with just under £10k next to it. presumably money in.

the subject of SZ is my only bugbear of GLR. presumably we written off the remaining money owed and paused the payments so help Siege keep afloat while they struggled on with an artisanal mining license and unable to use explosives. it wouldn't make sense to cripple them with fines etc, however neither does it make sense to write off the arrangement. I would really like this arrangement confirming.

Hi Money, it seems we have never written an RNS for any asset (to my knowledge) of obtaining licenses at approval stage. Its something I'm going to ask at the AGM, however having read the AIM Rules there's some wording relating to an RNS is required when info could affect the SP but "...not in the public domain..." (words to that affect". I suppose a license granted is in the public domain. ill still confirm this though