Member Info for Dave85

1/3

Enjoyed reading the posts today and been grateful of feedback form this bb before so just thought I'd contribute a few thoughts. If glaring errors please don't hold back I'm just trying and happy to learn, like many I expect.

Using the slice of the block model from pg14 of the July presentation. I've constructed an excel spreadsheet and input the ~39 rows of data provided for the said slice. I assume it is one of the best slices. Using the key for the coloured blocks and using the mid point of the stated Cu ppm ranges designated to each colour. I counted how many blocks of each colour on each row. I assigned a row of the spreadsheet to a row of the block model.

The spreadsheet is simple just column headers of; row No., green, light blue, dark blue, yellow, light orange, orange, dark orange, red, light pink and pink.

The rows are designated by row number.
For example the bottom row of blocks shown on the diagram (sillily my row 1) are entered as..... (the numbers that follow are the total number of blocks (with some fractional estimation - 0.5s)) starting with total light blue (I ignored green).

10, 5, 5, 3, 0, 0, 0, 0, 0

2nd row up

13, 0, 3, 4, 1, 0, 0, 0, 0

3rd row up

8.5, 6, 2, 6, 0, 0, 0, 0, 0

etc

Next I had a full (all same) column of block tonnage currently x ((14 x 14 x 14) x 2.2).

Next I repeated the first section of the spreadsheet (save the row No.) in order to calculate the contained copper in each grade range in each row (very quick given existing work done).

Assuming a homogeneous sg of 2.2 and a block size of 14m x 14m x 14m giving a block tonnage of 6036t I could then use the spreadsheet to quickly (relatively) calculate the contained copper within each row, or the percentage of the slice that is modelled to be a particular grade, or in the same way, any particular row.

Blocks appear reasonably square on the slice diagram so I considered as cubic. Block height was estimated from the vertical scale on the below diagram and used estimated relative levels of 1125m - 580m to give the 545m vertical depth to the pictured deposit, then divided by number of blocks shown vertically - 39 to arrive at the 14m dimension.

https://www.rns-pdf.londonstockexchange.com/rns/3902L_1-2021-1-12.pdf

AIMO

Already spotted 2 mistakes/oversights

Today was 70 days since this (elephant in room)

https://www.lse.co.uk/rns/URU/existing-convertible-loan-note-amendment-gdudsgv0hqvz4wn.html

Seems there could likely soon be many more shares in issue. 20 days for voluntary 85p conversion.

Does the notification of potential (iii) prevent the election of actioning (i), don't know but doubt it.

Also

1,646,691 is 26/11/2020 updated issued figure.

So mcap becomes 3,705,055

& resultant implied sp 359.7p

Pep re your shares (imo) will remain tradable on aim market as they are now. We would maintain most (immediately after deal ~80%) of our current exposure to Zeb.

Its just that the resultant valuation attributable to that exposure would be dictated by the tsxv investors and their trading rather than aim investors and their trading as has been the situation heretofore.

Tired now.

AIMO

2/2

Good team mentioned JZ - background owner it seems for now ('controlling person').
WI took fsy from start up (extremely quick Google seems like it >400 bagged) to 750m usd Co, (i had heard (and considered buying last year) of them as interested in U investments) raised 70m in the process.
GM previously with HS (like DS) and CIBC - funding man (another)?
MV and JC I'm cognisant of Colbalt 27 shareholders views, they are very knowledgeable in the space and very well connected, PR team and tech oversight?

Assuming the warrants and options are exercised (I think they will (at least at some point)

The share capital would consist of

Uru granted in exchange for zeb - 41m
Transaction concurrent finance shares 8m (2m/0.25cad)
Existing consolidated brc share capital 2347826.
Options & warrants 86927 - two lots of.

41000000 + 8000000 + 2347826 + 86927 + 86927 = 51,521,740

Price paid by the 'Canadian' (?) seed money is 0.25c cad or 0.144447p gbp

Seed money seems to value 'post transaction Co' at 0.144447 x 51,521,740 = 7,442,160 quid or roughly twice uru current mcap (2.25 x 1,608,453 = 3,619,019) & (7,442,160/3,619,019 = 2.0564)

Uru would own 79.58% (incl opt & war's) so 7,442,160 x 0.7958 = 5,922,471 quid.

Sp 5,922,471/1,608,453 = 368.2p (+63.55% cf 225.0p)

But there's not much liquidity here and brc is halted (cptr is a route?), if the market is interested higher valuation cf that of the concurrent finance participants may be achieved or vice versa.

On immediate appearances then...possibilty of riser board tomz?

Maybe, or wait until it goes ahead, then 2m cad to explore, promote, discover, promote some more then see where the valuation is (& where Ni price is) before raising more and diluting us from the ~80% starting point. JZ still owed a chunk of money......not forgetting!

Not checked over the numbers so, again, mistakes very possible.

AIMO ATB

1/2

Just my quick first impression (could easily be mistakes etc &/or misunderstandings (please correct me)) just sat in the car waiting for someone in the rainy Peak District.

Potentially (isn't it always) great news, imo, basically I think we would be 'in at seed level' alongside JZ et al.

AIM rule 15 re fundamental change of business - why - its potentially disposing of its 'main asset'.

Sometimes if a company does this it becomes a cash shell and then has 3 options being; within 6 months do an RTO (under rule 14), or become an investment Co (under rule 8), or after 6 months do neither & get delisted.

RNS 6128L is explicit tho - in saying its is not expected, if the transaction occurs, for uru to become an AIM rule 15 Co, so the 6 month time span & above options would not apply.

Seems to me a way of listing zeb on the tsxv has been figured out whilst allowing listing/continued trading on aim. Canadian investors and those trading on the tsxv are generally as a whole considered the most 'mining centric' of the world exchanges. They know of and have plenty experience with Ni, voiseys Bay discovery, giga, Canada nickel, dumont etc.

RL said this was their aim all along and now it seems the stage has been set for it to finally happen, maybe even almost coincident with zeb pea quoted 8.5usd/lb Ni price and heightening anticipation surrounding granting of a mining license.

From 1:40
https://youtu.be/0n16fQev5KY (only taken 8 years)

BRC 'was' like an equivalent to an aim cash shell, its now been chosen as the vehicle with which to introduce the mining world to the Zebediela project. Little old uru will own almost 80% of BRC & will become a 'control person' (meaning uru will be able to affect materially - the control of BRC/then 'Zeb nickel Corp' or similar).

The current capitalisation of brc doesn't matter at all, the company is completely changing what it does, who runs it (except AD & DC), its assets....its valuation history/chart/previous activity (not much - been a CPC - means nothing lurking yet? - tick) is all but, completely irrelevant.

AIMO

"that order" should read "this order".

Final top ups (>2p) for me this morning 10176 + 100000 + 58316 = 168492 rounding off various accounts, and up to 500k averaging sub 2.48p with 400k isa'd.

Did the buys in that order, 100k barc apparently saved me >200 quid and got price 2.5p, then 58k they saved me >100 and got slightly lower price, finally smaller 10k saved just 8 quid and had to pay >2.6p. Seems a bit weird to me but not gonna read much into it, just posting (this para) in case its of interest/suggests anything to anyone.

Happy with my holding for now - losing expectation of chance of buying sub 2p and especially sub 1.5p where was hoping to get up towards 1m.

Will just wait it out now see what happens.

Have to say I do see merit in expanding capacity which I sure mgmt do too, just comes down to timing. Cash in hand/sales expectation/construction & commission time. I reckon mgmt will make good calls on this front and associated newslow may somewhat prempt or imv negate requirement for explicit sales targets. Doubling up (storage first maybe?) really doesn't cost a lot in terms of potential profit if sales do pickup 2021/2022. Still hoping for S-curve adoption.

AIMO ATB

Moving

Stage close to set

Georgia runoff

https://youtu.be/o3W61jgMOq8

So close and so important.

But a Democrat victory, imo, would see the medium term value of US dollar exit stage left, and very short term boost to metals prices feeding to positivity on ufo sp.

If republicans get it just slows process down but immediate sentiment wise, its a pretty big deal apparently.

Dem - warnock seems to have just made it, ossoff just flagging slightly.

AIMO ATB

My fifth ever ten bagger and the quickest so far (since 3.86p on 16/07/20 - averaged up very slightly, afterwards).

Fully derisked between 800 and 950% up and happy to let the rest stay put thru most of 2021 (q4 at least - current thinking).

Sounds like ramping but i think arb is genuine chance of 100+ bagger for me by then, such an unusual company (so far) and I've experienced that that goes along way when wider attention is cast in the applicable direction as will likely exponentially occur, in this case, as btc runs.

Have to admit wishing I'd have bought the kids a bitcoin each, was considering doing so all the way from 4k to 8k quid but prioritised elsewhere - house each within 2 years?? Not gonna do it now - maybe think/wish similar in another two months time.

Respect to the ones who built/held significant proportions of their net worth in here thru the tough times. Potential to realise millions most deserved!

AIMO ATB

3/3

No info is available but its doubtful either drill utilised downhole inclinantion/azimuth surveying such as linked below. Quite easy to image a wondering after 80 - 100m enough to explain missing the >17g material. 'Poor correlation' at depth of interest, imv corroborates this possibility. Personally expect further work & exploration success. They say they will fully define the, so far open, geochem anomaly (not expensive cf drilling) - its already pretty big.

https://www.devico.com/products/deviflex-surveying-inside-rods-fast-with-precision/

Paymaster - skarn deposit - 1.7km strike of so far intermittently mineralised and minimally explored area with some decent grades of base/precious/critical metals - Zn, Cu, Pb, and Ag together with additional Co and Te. Potential for buried porphyry and historically postulated to be part of much larger hydrothermal system.

Peg Leg - tungsten prospect but with high grade unexplored outcropping with Cu, aswell as some Zn, Pb and Ag. Nearby also good indications from spoil.

Mt Tobin - volcanogenic originated silver prospect 40-60m wide by 1.2km long, Pg103 - https://scholarworks.unr.edu//handle/11714/1597 described as low grade silver but some results around 100g/t.

Lucky - targeting porphyry copper on site of histocially assayed, shallow (<60m) and open intecept of >20m at 0.65% Cu, inclu to base of hole.

Mcap is tiny (~2m), number of shares still sub 1b, interesting parties associated and low overheads combined with some insider ownership. The recent/current PM market and Feb 19 spike demonstrates market is interested - only announced a drilling campaign - not results etc. The recent acquisitions and royalty indicate to me tym can survive for years. If some were waiting/hoping for it to die, that hope likely significantly faded.

Maybe balance of priorities in Sweden could swing towards need for domestic fluorspar production for batteries/steel etc and some required TSF measures finally defined and then met, and license reinstated at long last, creating jobs/economy boost and tym mcap appreciation.

If not, I just think couple of years out any PM explorer will (on and off) command valuations nearer 40-60m range leaving plenty of room for interim dillution before 10 bagger potential is significantly negated.

Sweden was voted 10th fraser institute - best mining jurisdiction 2019 (somehow! (tym - storuman, bem - kallak, aura - haggan))

Nevada number 3 (No.1 2018)

Finland number 2

Not a bad bunch in that respect.

Just recording some thoughts/notes for easier access.

AIMO ATB

2/3

http://www.scielo.br/scielo.php?script=sci_arttext&pid=S2448-167X2018000200261#:~:text=Fluorspar%20is%20a%20common%20raw,)%20%2B%202CaO%20(****).

https://youtu.be/XaEZo7QDh7s

https://www.tandfonline.com/doi/abs/10.1080/03019233.2016.1214379?journalCode=yirs20

https://en.m.wikipedia.org/wiki/Direct_reduced_iron#:~:text=Direct%20reduced%20iron%20(DRI)%2C,are%20suitable%20for%20direct%20reduction.

The FSA to AHF seems by far the greater risk supply:demand fluorspar wise. Steel side likely strong alongside steel demand.

Aluminium side demand on its knees recently - covid related - including aerospace - likely bounce 2021/2.

Major growth potential from Li-ion side

https://roskill.com/news/fluorspar-arkema-expands-pvdf-capacity-to-supply-ev-battery-market/

Above link includes decent general overview vid.

Prices recently holding up.

https://www.indmin.com/Article/3967354/Fluorspar/China-fluorspar-acidspar-prices-flat-despite-slack-buying.html

Below - not the best vid, imo, but another overview opinion to assimilate.

https://youtu.be/lcAMjzBrAkw

http://imformed.com/fluorspar-market-outlook-alternative-sources-ascendant-li-ion-battery-potential/

From link above - the, barage of questions on how much fluorspar required bit, caught my eye - people paying attention - market interest.

Sweden specific - (MB now gone & Norway - less prominant), Li-ion battery tech and resultant burgeoning appeal and utilisation with manufacturing centre - northvolt - they cracking on with it.

https://youtu.be/TfE0xswnPQY

Move towards PM recently and reason I began averaging down Oct 2019. Recent confirmation of gold mineralisation at pyramid. PYR9 only hole historically testing 750m soil geochem anomaly. Ended in >2g gold and interested high grade ~100m down hole. PYR9 twinned by TPYR1 but with the variable drill techniques, depth of expected intersection, time passed between hole completions, apparent sampling/assaying frequency/completeness, there appears possibility of missed intercepts.

AIMO

1/3

First bought due to fluorspar promise, now that is more on the back-burner but interesting nevada projects. The recent Finland royalty deal could end up covering the mcap on its own if explo success and serious drill out occurs.

New guy seems connected and highly experienced, and interestingly doesn't appear a serial exec - mike armatige

https://youtu.be/FRkkpyR4AYs

https://www.srk.com/en/videos/minex-forum-improving-public-perception-mining

Fluorspar space appears in flux currently with various uncertainties on both the supply and demand sides.

Supply - since 2011/12 prices reduced progressively in bear market before 2017/18 pick up and recent peaking before covid decline but still way above lows of mid 2010's. Prolonged low prices, increasing environmental concerns and more recently covid, have caused closures of smaller ops in main market purchaser - China - now actually switched from net exporter to importer.

New or at least recently expanding areas of supply - likely take years but potentially a major supply increase from FSA from phosphate derived fertiliser industry - currently limited and China based conversion to anhydrous HF only. Recent deal in US into this area. Change if happens - likely slow as existing plants cannot simply switch input feed, you need a new plant - costly cf sunk capital.

General deglobilisation trend and critical mineral status in many areas maybe points to increased aspiration towards increased regional supply. Europe has some from Spain and Morroco is close by - FSA route.

Demand steel production up worldwide esp China. Steel manufacturing in high demand and high iron ore price from covid expedited world wide govt infrastructure spending/stimulus with strong and growing domestic (sweden) manufacturing industry.

FSA to AHF from phosphate 1st US deal.

https://roskill.com/news/fluorspar-arkema-and-nutrien-sign-innovative-hf-supply-deal/

I was cautioned when found....

https://www.greenbiz.com/article/new-swedish-iron-processing-project-could-disrupt-global-steel-industry

....enviro lead move away from blast furnace but then read the stage of/use of fluorspar likely unaffected as still needed as de sulpidation post DRI method in electric arc furnace thru lancing.

AIMO

Lol, yeah but I remember thinking about all the sells and sp dropping in the run up to the spike early last year - wondering why now. Not bothering this time round (thinking about that) just patiently wait for Nevada and/or Scandinavia.

Started averaging down 18/10/19 then 123 days later (just reviewed what "quite quickly" actually was (bit longer than I thought)), 18/02/20 spike in one day to around 3X my av.

Equivalent time span would be day after may day 2021, I think a decent chance of some positivity (and repeated trimming) between now and then especially if PMs well into their next legs up.

Obviously accept no gaurrantees just most likely imv, only recycling gains, tho I'm cognisant each isa'd pound is precious this stage of comod cycle.

2021 - The Year Maketh - TYM?

AIMO ATB

.....here again, sub 0.27p, worked out quite well and quite quickly for me last time.

GLA

Maybe the months of waiting on a small paper loss will be worth while here.

GLA

That beautiful photo on the twitter page of junior lake (pondering why now / why that pic) made me think of the melting of the ice come spring (not suggesting that was why) and the temperature of the lake come summer/autumn (swimmable - maybe 18-20°C?).

Another thing came to mind re the temperature of melting ice and the heat energy required, cf heating of water - schoolboy physics.

This vid sums it up quite well from 1.45 to 5mins. Looking at the sp here I wonder if the trading since the ES holding reveal up to ~fortnight ago, could be in some ways analogous to a phase change.

https://youtu.be/8u8RYjJ7MHI

Volume being energy and sp being temperature - maybe lnd has recently completed its phase change becoming fully melted 0°C water.

Just a bit of a joke really but all triggered by the picture - perhaps - not much heat needed from now to raise the temperature - trigger being - newsflow/pr. Possibly helped along by some redistribution from others looking presently more like superheated steam.

Was supposed to have visited a mate in Vancouver over summer but covid stopped that. Putting it off a year or so with some of the hard fought airtransat flight refund put at risk here. If it goes the way I hope maybe some lnd proceeds pay for an upgraded belated trip, maybe even one including a symbolic glorious summers morning dip in the thunderbay area.

Google maps BAM co ords
50.378895,-87.905784

GLA ATB

Have been watching and a bit tentative to post it...as to not want to jinx.

My forth ever ten bagger (but more now actually), maybe I can view my 97% paper loss next to uppt with a wry smile and think yeah but...

Not got many here but sometimes a little goes a long way.

27058 cost me penny shy of 368 quid in July, could be worth 30k one day, no rush to find out tho.

Third time lucky with rp looks to be coming good - cheers!

AIMO GLA

And again....now at equivalent of 2.58p assuming aud:gbp of 0.562844 on xe.

Btw thats >260% above 0.7p here

Just an observation.

https://www.google.com/search?q=kp2+asx+share+price&oq=kp2.asx&aqs=chrome.2.69i57j0i30i457j0i30j69i60.4968j0j4&client=ms-android-samsung-gs-rev1&sourceid=chrome-mobile&ie=UTF-8

GLA ATB

Added more - palindromically, nudged (rightly or wrongly) by volume accompanied sp rise on asx.

Dramatic and lasting turn around in agg comods looks on, maybe helps kp2 out over time.

Need to get a move on apparently.

AIMO GLA

Great to see Maestrano closing the week at an all time high. Even more so as it seems to have been achieved following solid newsflow of real growth & performance with a minimum of pr and sentiment, hype etc.

Not feeling any kind of further urge to touch the sell button. Long term hold for me most likely from now.

Up to 17 months holding now and to paraphrase SI on admission - it has been a great experience and I look forward with excitement and confidence.

AIMO GLA