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District government happy with promises from TZM Resources, SA:-
While the population is still uncertain about what will happen, the Pebane District Government is certain that the relationship with TZM Resources , SA will be the best, unlike the one it currently maintains with Tazetta Resources, Limitada , which also explores heavy sands in the village. from Pebane.

In the “Letter”, the Permanent Secretary of Pebane, Robert Armando, told that TZM promised to pave the main street of the village; opening eight water holes in the three Administrative Posts (Mulela, Naburi and Pebane); and award 10 higher-level scholarships at each Administrative Post.

He also promised to build a conventional market at the headquarters of the Locality of Malema; offer an ambulance to the Administrative Post of Mulela; and build a Complete Primary School in Naburi.

The actions are expressed in a memorandum of understanding signed in September 2021 between TZM and the Pebane District Government, whose implementation will take place between 2023 and 2027.

As for the resettlement, Robert Armando said that, at the moment, TZM is designing the model house to be built for the population. He also assured that there is a possibility for the company to start its mining operations before implementing the resettlement, provided that the area to be excavated, in the first place, is not inhabited. It should be noted that TZM is ready to start operations later this year, according to the Pebane district authorities. (Abílio Maolela, in Pebane)

THE END.

“They say we're going to have to leave here and go live in Alto Maganha. They also say that we will have three-bedroom houses and that they will give us machambas”, he says, conveying the message that came to him through third parties, as he has never participated in any public consultation meeting.

The only thing that counts with ownership is your employment relationship with TZM and the existing working conditions. Joaquim is currently guarding the camp built by the Moebase River, which gives the forest its name. He narrates that the company does not provide food, pays precarious salaries and does not provide medical and medication assistance.

Domingos Ussene, Secretary of the neighborhood in Cuassiane, said he participated in three meetings, one of which took place last year and two earlier this year. In the three meetings, he says, the population received promises of improved houses, opening of water holes, construction of schools and health centers.

However, none of these promises have been fulfilled and it is not known when they will be fulfilled. He also adds that the population asked for the construction of a bridge over a stream that flows in the region and that ends up making the seat location of Alto Maganha distant. “We have to go a long way by car or motorbike because we don't have a bridge”, he says.

According to Ussene, Cuassiane is just over 10 km from the main town of Maganha, using the paths used by the population, however, “Carta” had to travel close to 21 km by car with four-wheel drive.

Who also still doesn't know when the TZM promises will be fulfilled is Aquima Ernesto, a family head who, in addition to a house and machamba, also wants a job. “We want the company to give us work to help our husbands,” said Aquima Ernesto.

To our report, Ernesto said that the community has not yet indicated the location where the resettlement neighborhood will be built, nor the machambas, however, the population has already identified the location for the construction of the village, which they consider ideal to continue their main activities. economic: fishing and agriculture.

CONTD...

In addition to the construction of the two camps, the company has already carried out the Environmental Impact Study, which found the need to resettle at least 204 families in the two Administrative Posts. It has also carried out a public consultation with the affected communities and signed a memorandum of understanding with the district government of Pebane, within the scope of its social responsibility.

The environmental authorities, at the level of the province of Zambézia, “close themselves in hearts” and do not accept to speak to our report. The Provincial Infrastructure Services confirmed the disapproval of the mining project in Cuassiane and approval only of the dry dock construction project.

The Chief Provincial of Zambézia, Fred Jamal, told the “Letter” that he was not aware of the Moebase dossier , however, he guaranteed that his institution has a magistrate dedicated to matters of the extractive industry.

In his interaction with our report, Jamal stated that it is common, in Zambézia, for projects to be approved after they have been rejected, all due to political pressure. The situation, he detailed, happens both in the mining sector, as well as in the lumber sector.

Fishermen have already been compensated and population awaits resettlement:-
One of the TZM Resources, SA camps was built in an area where the fishermen's camp was located. It is a place that housed the fishermen residing in the main town of Alto Maganha, which is just over 10 km away.

Pramuji Essilamo, one of the fishermen affected by the destruction of the camp, told “Carta” that fishermen have already been compensated in amounts ranging from 2,000.00 Meticais to 7,000.00 Meticais, an amount, however, considered insignificant by some beneficiaries.

“We used the camp for our rest during the fishing season, because our houses are far from the sea. There are times when we could spend a week, depending on the availability of fish and the behavior of the sea”, said Pramuji Essilamo, stressing that they are now forced to return home every day.

Essilamo says that the fishermen never had the opportunity to negotiate the values ??with the company, since the compensation was imposed by the district authorities. However, he assures that fishermen were never prohibited from using that area to access the sea.
However, if the fishermen of the main town of Alto Maganha have already been compensated for the destruction of their camp, the same has not yet happened with the population covered by the project.

In Cuassiane, for example, great expectations still reign, mixed with uncertainties about the fruits of the project. João Joaquim, who has lived in that community since 2005, says it is still unclear what will happen to him and his family.

CONTD...

Sent off an email - this is what Google Translate threw out below:-

Forest reserve on the brink of destruction in the name of mining in Pebane:-

A state forest reserve is about to be destroyed in the coastal district of Pebane, in the northeast of Zambézia province, in the name of exploiting mineral resources. This is the Moebase forest reserve, located in the community of Cuassiane, in the Locality of Alto Maganha, in the Administrative Post of Mulela.

At issue is the concession of an area to the Chinese-owned company TZM Resources, SA for the exploration of heavy sands, which starts from the community of Cuassiane, in the Administrative Post of Mulela Mualama, to the community of Marauanha, in the Administrative Post of Naburi, bordering the province of Nampula.

An investigation by the Center for Public Integrity (CIP) found that the heavy sands exploration project in Moebase was even rejected by the Minister of Land and Environment, Ivete Joaquim Maibaze, due to the existence of a conservation area in the area under concession to TZM , in However, “Carta” found that political lobbies are underway with a view to convincing the government official to change her mind.

TZM Resources , SA . is a public limited company, registered on August 21, 2020, at the Legal Entity Registry, under the Legal Entity Single Number (NUEL) 101361454, having as its objects the “mining activity” and the “general trade with import and export of mining products”.

However, in September of the same year, the company saw its share capital changed. At the time of its creation, the share capital, fully paid up in cash, was 100,000 Meticais, represented by 1,000 shares, with a nominal value of 100.00 Meticais each. However, since September 1, 2020, the share capital is represented by 100,000 shares, with a nominal value of 1.00 Metical each. It is not known who the Mozambicans are behind this limited company.

According to what "Carta" found, secret meetings, involving Pebane district and Zambézia provincial authorities, as well as Frelimo party leaders in Pebane district and Zambézia province, have been taking place in Maputo city, with the aim of convincing Ivete Maibaze to approve the project.

In fact, not only are political lobbies in progress, but also works are underway to install the machines. “Carta” was in the village of Cuassiane, in the middle of last June, and witnessed in loco the existence of two camps belonging to TZM , with a total capacity for 30 rooms. As far as we can tell, the works started in 2021 and were completed in the first half of 2022.

CONTD...

@Barna, did you read my posts and extracts yesterday of statements from Shaun and Sandeep as you seem to be behind the curve in keeping up with developments and information, you'd benefit from visiting the GGPChat forum and reading through the interview notes IMO or rewatching and reading recent information from both GGP & NCM IMOit would help you gain a more accurate understanding of current matters.
Also consider that if NCM can't justify purchasing 5% at $60m at a discounted rate due to internal financial protocols and factors such as shareholder dissent at SP performance, poorly received dividends and perceived overspend on growth and acquisition such as BruceJack, how are the BOD going to push through a bid or takeover attempt currently with ease? Anything is always possible, but they do seem to have a lot of other 'hurdles' besides rate of return rulesets.
And this 5% price tag was a value that was determined from almost 9 months old drilling data and conservative metrics such as price decks underpinning the option exercise VS a true representation of a FMV price determination. If NCM want to make a bid for Havieron or GGP, our board needs to build an actual FMV to judge the offer against to then decide if worthy to be put in front of us is my understanding.
And they've now got the capability and experience to do so thanks to bringing in the skills and experience gained through the option exercise ironically. Do you ever note the repetitive messages Shaun makes about GGP now having the ability to assess, understand and manage Havieron as owners.. well the independent MRE and pushing the value base up for the option exercise was an example of this capability and helped us retain 30% by shifting the paradigm from a conservative PFS to a still conservative but more appropriate MRE and indeed one that was supported by NCM's own recent resource update - again the point is - the $60m price tag was a price determined by a process not a true FMV exercise.
Painful as the process might be to get into production still, retaining that 5% will surely provide a better return than $60m in the years ahead than had we been reduced to 25% ownership :-)

* And you just recently announced that you've acquired a hundred percent of the Vivash Gorge project… just can you touch on that for us as well?
- yeah sure, I mean we… I think we… Zenith Minerals were looking , they're focusing on other things, it became a non-core asset in their portfolio
- they like what we're doing I think and so we had a very simple process to secure the license and we feel it's highly, it's been tested to a point but we feel not in the right locations… no disrespect to any of the predecessors who've gone on that ground and we're very excited
- I mean it's got a nearly I think, it's close to a 30 million ton resource, near DSO resource on its boundary in the central eastern part of the tenement defined by FMG and we feel that there's a continuation into this block as well as further targets that really have never been tested even on the ground, you know someone walking the ground taking some samples let alone drilling
- it comes with a fantastic granted permission of works for a big drilling program when we're ready to do that, it comes with Zenith support from… Zenith have been a great support in the process so we're yeah we're really excited by that
- and again it adds another you know another strategic project to the Iron Ore Company of Australia (IOCA) portfolio that also feeds into the development at the moment of the western hub for iron ore export which is the Onslow Ashburton onboarding project whereby they're looking at sort of a barge system
- where the material, you know the bulk material is put on barges taken out to deeper water where the where the bigger ships can get to and then loaded and sent off to market from there
- and where both Brockman and Vivash are sort of 250-280 kilometres from there which makes gain the possible you know, the economics really attractive as well.

* Well considering your success with Han**** I wish you all the best with Vivash and Brockman and we look forward to catching up with you again soon Bill.
- well thanks very much and yeah, I mean sort of watch this space, we've got lots of things going on and we're very excited in the team and hopefully we can keep updating the market and keep you know, keep working to our goals

* Thank you very much for joining us on share talk.

* I’m considering the project's close proximity to some major players in the area, is there any possibility of off take from some of these players?
- absolutely, I mean.. we'd like to think that the project is now on the map so to speak, maybe even six months ago it was still not really a known project and understood but I think now we're definitely yeah we are talking to some of the neighbours
- so you've got obviously FMG, RIO, BHP and other smaller groups as well who are both producing or looking to add to their portfolio, we're talking to those, we're talking to possible off takers who would then actually you know organize to get the material to the final destination to the furnaces and yeah there's definitely and there's definitely a lot of momentum out there
- and also with the contractors we're now doing official tenders for all the specific areas of work and they're coming back, they're really positive because they like the project, they like the team they feel this there's a solid longevity in the project
- and don't forget Han****, at the moment our current resource around 10.5 million tons of DSO grade is the initial resource and we still have many kilometres of ground, of ridges to test
- we did some work on those earlier in the year, we did some mapping and some you know surface sampling and we still… I mean I was just chatting to Bradley Toms our exploration manager in Perth, we've got another three kilometres of strike length, high grade results from the surface work that we've walked over as well and feel that they will have potential to just keep adding you know tonnage, high grade material once we get into production
- it's like well here's the next you know the next ridge or the next million two million three million tonnes to just keep increasing the potential of the project, and of course Han**** is only one, we still have Brockman to the west which we're still looking to try and drill in in the coming couple of months as a maiden drilling
- which from our historical again ground sort of surface work mapping we were getting even higher grades at surface you know, 63-64% with such a group as RIO who have drilled pretty much in the southern area up to pretty much the sort of boundary with yeah… we don't know their results, they don't necessarily have to publish them but the fact that they've been drilling up to the boundary and had to stop because you know they can't cross the line so to speak
- but that, that's very encouraging for Brockman which is you know the next I suppose the next one off the rank in a way.

CONTD..

* Speaking of moving ahead, Dan Smith your chairman was quoted as saying in the release that the team is fully focused on getting the Han**** project into production in the first half of 2023, now this seems like a very ambitious time frame?
- yeah it is, we've I mean we you know we issued a maiden resource, well it was September last year, it's quite scary how time flies in that sense but I think the key is and then follow up work, some initial metallurgical work to see the you know the more, the true sort of quality of the product and the products is great
- I mean it's really you know the greatest DSO (direct shipping ore) grade, the deleterious materials are very low in in comparison to what the market will sort of you know where the guidelines are for high-grade good quality products, so all that's looking very solid and it's a great project
- it's a simple for the commencement on especially on the ridge systems where the two of the three resources sit and where we've sort of focused at the moment, it's pretty much you're sort of shaving off the ridge you know, you're shaving off the material off the top so you're not having to do big traditional sort of open pit style mining at the outset
- product's great, location is fantastic, we you know we put in a miscellaneous license application to get the haul road access onto the great northern highway to transport the core, the ore, sorry up to Utah Point,…Port Headland
- Mining Plus who worked on the Fenix Project originally who would and they're doing fantastic they’re initial scoping study brought in some really excellent numbers really with a say a region of 65 USD dollars FOB (Free On Board) per ton to Utah Point for this sort of product is excellent and that includes everything, that's the mining, that's the haulage , that's you know taxis royalties all tied in, so a really great starting point
- and therefore you know we felt which is it's something really exciting that that we can progress and develop without you know going… without spending huge amounts of money or needing to spend huge amounts of money
- because again we don't need a railway, we don't need infrastructure to get the product to market and the way we're looking at it is third-party contractors, so we're not as a company... have to then commit to buying all sorts of equipment managing all that equipment, that's the contractor's role going forward
- and yeah so we just you know put our heads down, I’ve got Lloyd and Aaron and the team in Perth are doing a fantastic job, so we're we you know, we're pushing ahead we're sort of I’d say 70 plus percent in the process of getting all the necessary permitting
- We did apply for mining lease, I should have said that earlier already which is in process so we're doing the associated reporting, you know studies, flora, fauna, water, native title all those things are ongoing and yeah we're highly excited and we believe we'll be able to achieve that

CONTD..

Notes from Sharetalk interview re.Hamersley Iron Ore Project Update - 25 Aug 2022

Download Link:
https://www.mediafire.com/file/8atb5pmw37hoprf/Notes_from_Sharetalk_interview_re.Hamersley_Iron_Ore_Project_Update_-_25_Aug_2022.pdf/file

Created from a messy Transcript export from YouTube

* Hello and welcome to share talk I am Bonnie Hughes, today we are speaking with Alien Metals, they have a portfolio of projects in western Australia containing iron ore, PGM’s and silver, Alien is rapidly advancing its Han**** iron ore project into production and here to provide us with an update is Bill Brody Good, CEO, hello Bill
- hi Bonnie, nice to catch up again.

* Yes you too, so yesterday Alien announced a revised agreement to acquire 90% of Hammersley iron ore project. Alien currently holds 51% and Winfield 49%, can you give us some details and the significance it has for the company?
- yeah sure I mean this… Winfield were obviously the original holders of the Hammersley project which is the Han**** and the Brockman tenements, sort of very underexplored and when we acquired them initially at 51% we had hoped to get the deal over the line last year
- just everything you know, it's been a very difficult 18 months, two years for everybody, so we've now yeah we're really pleased that it's slightly different deal parameters to what we initially talked about last year, but it's still critically for us we feel it's a good deal for Alien
- but importantly it gives us that 90% control of the project which means we can really drive forward now with all the development work for you know parties we're talking too, both contractors who we're talking to for getting for doing the haulage for doing the mining for doing the access work
- it gives them more you know.. de-risks the project because it's not then concerned that there's a JV at a sort of 51-49 relationship that sometimes you know they can be a bit harder to deal with than just having us IOCA Alien Metals driving the ship and you know managing the project
- and from our point of view it just means we have that yeah, we've de-risked the project in the sense of ownership for and management as I said for us to really be able to move ahead or continue to move ahead, I mean we haven't really slowed down but it we feel it's a key step in the development process.

CONTD..

@Barna - Newcrest have officially given their reason as per Sandeep's statements and responses to the Q&A below around the expenditure would not meet their hurdle rate of returns set out in their own financial protocol.
Sandeep has a responsibility towards explaining his actions to his own shareholders but there is no legal basis I can think of that meant Shaun could have demanded an explanation if Sandeep hadn't given one publicly during his Full Year Results webinar.

NCM Full Year Results Transcript excerpts:
https://www.ggpchat.co.uk/viewtopic.php?t=467
We've announced today that we will not be exercising our option to acquire an additional 5% JV interest in the Havieron project. The 5% option price was determined by an independent valued to be USD 60 million based on the process set out in the Havieron joint venture agreement. Newcrest earned its current 70% interest through expenditure of USD 65 million and the delivery of a prefeasibility study. An additional 5% for $60 million does not meet our return hurdle requirements and we're very comfortable with our 70% interest. The Havieron team continues to work through the feasibility study, including the scheduled first ore, and we expect to release this in the December quarter.
The JV is moving forward with early works activities, including the exploration decline, which saw development rates accelerate towards the end of the financial year, with steady improvement expected to continue in FY '23.

Question - Daniel Morgan (Analysts)
Sandeep and team, question is on Havieron. I note you didn't exercise the option you had to get an extra 5%. Can you just talk through why a little bit broader, isn't the value of this 5% only going to grow? And what are some of the key assumptions in the option process you were clearly uncomfortable with paying for? And I note that you do talk about your return hurdles, which I imagine that this -- everything you've talked about in the past, I would have thought this would need it.

Answer - Sandeep
Yes. So, as you know -- well, as I said, the first 70% cost of $65 million, which is an excellent investment. And if you look at our -- as Sherry alluded to, we've got a very rigorous capital allocation program. We've got a lot of projects to allocate capital to. And obviously, we've also got our shareholders to think about as well. And in that context, it didn't make the returns compared to putting that $60 million somewhere else. We didn't need to do it, and we didn't think it would deliver the sort of returns and the sort of thinking our shareholders expect from an owner's mindset in this company.

A lot of the guys slating Paddy, Bamps and Hydro and others are focusing on the SP since the placing.

Some of these guys are fellow disgruntled fellow shareholders and well.. after the volatility here and the SP decline, you can either blame yourself for holding or averaging down or... blame other people for your own investing decisions.

In my life - I've only ever held myself responsible for my own decisions.

Value is subjective and controlled by many many things besides 'true value' such as sector sentiment, overall market conditions, the fundamentals and .... well the list goes on, I'm sure most of us know the score.

Some of these returning detractors however were very very vocal about Havieron in their previous visits upon this board over the years and declaring it a duster, being a tiny ore body, being too deep or too costly to mine. Now they're back here winding you all up over the SP conveniently forgetting they were stating the above. SP aside - Havieron is looking to be a potential 20MoZ type resource and very very economically viable as a project from what I can see.

Paddy, Hydro and Bamps all played a key part in convincing us it was a large resource and economically viable very early on and they were spot on - however they can't control the market, the sector, Option Exercise outcomes, NCM purchasing decisions and how Shaun is able to and chooses to fund us to production.

I would suggest listening to the MD's last interview***and reading the notes and then decide for yourselves whether you think Shaun is being truthful that this equity raise was an important step in helping GGP obtain debt funding and whether you think he can deliver or not and get us into production.

It's up to us as individuals to DYOR and make our own decisions and hold ourselves to account , this week was either a massive step towards GGP becoming production ready or it wasn't - we'll find out soon enough in the next few months as shareholders, if we choose to stay onboard of course.

Have a lovely bank holiday weekend :-))

***https://www.ggpchat.co.uk/viewtopic.php?t=484

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