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On the 20th Oct the pre-collaring of the KCB drilling was announced. We were led to believe this was to allow the prospectus to be issued without any changes.
Companies house lists Ben as having resigned from Teathers Financial PLC on 3rd Nov. The prospectus is dated 18th Nov The prospectus still lists Teathers under Ben's directorships, as it is within the last 5 years, which is correct.
Nothing incorrect or seemingly significant to KAV but it seems a little odd.
https://twitter.com/KoBold_Metals/status/1629506366971756545
Speculation, at the time, was that Mike Moles shares were purchased from Chuck Forrest. Chuck Forrest is another that I believe has links to Reunion Mining (and also historic links to KAV).
I think at one point last year KAV moved away from the keel and sills model only to return to it again.
HI Analytical,
Not sure if it's already been highlighted here but there's a recent presentation now available on the website.
Nice overview
https://galileoresources.com/wp-content/uploads/GLR-Presentation-Feb2023_v2.2.pdf
My interpretation of what Leon says at about 28mins in, is that the tailings will be upgraded to close to 2% before being transported to Roan to go through the concentrator. I don't know what this initial upgrade process is but wondered if that's a simple cheap upgrade process that could also happen on Luansobe ore. I have asked on JLP board if anyone knows the initial upgrade process that the tailings go through.
My interpretation of what Leon says at about 28m is that the tailings will be upgraded to close to 2% before being transported to Roan, to be put through the concentrator. Does anyone know what this initial upgrade process is likely to involve?
I think we are going to see an announcement on the KSZ within the next 2 weeks. A lot of folk have been itching to get back to B1 and there has been very little said about the KSZ recently. More talk of the KSZ would have kept shareholder interest, particularly after the funding so I think there may be something in the pipeline.Perhaps a JV on at least part of the area -possibly not with a major but someone like Kobold. That would perhaps account for the silence, the appointment of JB and the talk of acquisition. I think it would be positive if it does happen, I realise a lot of people will disagree.
SeisNav,
I do think the JV will happen in some form but there are obviously some things going on that we are not privy to. I get the impression that it is something the gov have influence over and considering the delay is so short one assumes they are confident of an imminent resolution. The statement you highlight is precisely the reason that I think the gov have influence over whatever the issue is - it smells of 'Zambia is the Switzerland of mining'.
'We are also pleased with the progressive reforms being undertaken by President Hakainde Hichilema's administration and the Ministry of Mines.'
When KAV announce their next target in the KSZ, it would be ideal to see the size, conductance, and chargeability of the conductor and the same for a known deposit of comparable size (possibly from Norilsk). I'm not sure if they have access to enough data but it would add some additional confidence.
The JLP strategy seems to fit well with the Zambian gov stated intent of having plants that support small scale and artisanal miners.
https://www.lusakatimes.com/2023/01/17/zambia-and-uae-sign-landmark-agreement-for-2-billion-renewable-energy-investment-2/
So from the RNS
'All substantive commercial terms of the proposed Joint Venture remain unchanged from those previously announced.'
So AA and ARC are in agreement with regard to the major JV terms that impact Arc.
Duncan says it depends on the commercial terms that they can land - so another party in the discussions have yet to agree to acceptable terms?
Kopara?
Ministry of mines - the licences or terms of the licences?
Something else with regard to the licences?
Something else???
I would guess something that the government has influence over.
The assumption that PWB helped in the financing, at a difficult time for the markets, is why I haven't been shouting about an extra mouth to feed with regard to him. I do, however, think the decision to collar 5 holes in order to support the placing was a mistake in many ways.
I have also expressed my surpise at Jeremy Brett becoming a director. I am hoping there is some significant news on the way that justifies his appointment. I haven't found him amongst the Reunion boys network.
Keith,
Totally agree on point 1, that's why I have been saying it's prudent for them to reassess their data and targets before announcing their strategy for the KSZ.
I wonder if getting access to another known area of mineralisation would help them understand their data better?
FKC,
I suspect Peter Wynter Bee played a part in obtaining the recent funding.
I am still really struggling with the logic and feasibility of a mining licence. Obviously security of tenure would be an advantage before Anglo spend many millions, but I can't see that the application would look anything like what AA might want further down the line. Zambia is keen to support small scale and artisanal miners but I'm not convinced Anglo would have that sort of activity and associated risks on their licences. Yesterday's JLP RNS and the opposition to FQM's solar/wind farm made me wonder if it was related to getting permission for infrastructure on site but I still come back to the fact that they are unlikely to have sufficient detail to plan this in detail. Do the mining licence applications give more influence over any infrastructure improvements in the area?