Member Info for Ella10

IF the following is true I can't see how they can start drilling
'The Lusaka High Court has granted Zambian Mineral Exchange Corporation Limited (ZAMEX) an order of injunction restraining Zamsort Limited from the use, possession and management of the plant, equipment and mining licenses for Kalaba mine in North Western Province.'

https://zambiareports.com/2021/03/12/court-grants-zamex-injunction-zamsort/

The licences discussed appear to include the Zamsort/Zaco licences.

I don't think SH is that naive...

Would be good to get confirmation of start of drilling (which could appear today) and confirmation via RNS that any significant issues will be reported. I think the reporting on the early drills of the last phase was OTT but I agree that an update at the end of each drill (or two) would be good. They are also free to report when they find massive intercepts of gold... :-)

BCB,
I think there are 2 holidays in Botswana early next week so I wonder if drilling won't start until after that.

KAV announced on the 10th June
'Drilling is planned to commence by no later than 30 June 2021.' They now appear to have everything in place but drilling has yet to commence. So they have had a 2 week slip on what was a 3 week timetable. I think there are a couple of holidays in Botswana next week so I doubt if they will start before then.
Would be good to know what is happening with GLR.

Made it onto the leader board :-)

Agreed CE.

The AGM is looming so minds will be focussed.

So...
We may get the 3rd RNS of the week in the morning!

Hi fozzy,
NVS just emailed me to say they've just received confirmation of 60 million Tonnes of copper in Fwiji alone, the court has awarded Zamsort $50m In damages and the Zambian government have scrapped all taxes on mining related activities. Should be a bumper year for ARCM!

Really????
So in spite of the SP suffering a severe collapse and may investors calling for some info to be released NVS communicates with FB via email...
Posts up until now were reasonably convincing - that smells strongly of desperation.

We were told it was diamond drilling GLR were doing. The fact that MTR are doing RC and diamond drilling suggests 2 rigs so if the 2 rigs were running simultaneously progress would be less than 1000m. RC should be faster than diamond drilling but they may be using it for shallower holes so would require more rig moves.

Cheers Funky. A reasonable update from them.

If GLR announce activity at Ka****u commencing and JLP were to confirm some sort of progress regarding Sable processing Zinc in Q4 then we should see significantly more interest here and/ or If we get any signs of copper in Botswana we will also become more visible.

IF anyone is concerned that the court case may be impacting commencement of drilling can I suggest they contact the NOMAD outlining any concerns. IF there is material news then the company is obliged to release it.

The LSE filter must have broken on Graham this morning - I thought he had already filtered :-) :-) :-) :-)

Does anyone know how long arbitration typically takes in Zambia? I have had a look on line but haven't found anything terribly useful.

Tom,
We know from Graham that it's all part of the plan for the VWAP to be in the correct place for the Kopore deal.

SH,
I would be concerned that the injunction that appears to be in place against Zamsort is stopping drilling. As far as I can tell this was awarded on the 12th March so between the tweet of being fully funded and the surrender of director options. Zambia is Zambia so it is difficult to be certain that there is an injunction in place. ARC issued the statement about it being a bogus claim on the 10th March and issued a statement that their licences were in good standing in May but the timelines just seem too coincidental.

Steve,
I think,after a second read, that yesterdays RNS is just referring to further processing of the previous IP survey which we do have some pics for.