Member Info for Ella10

Soon?

Hi Chri5p,
Please see my post below
'Oiltap,
I suggest you read the RNS again. There were 2 parts to the deal. The SFR investment in GLR shares was unconditional at the time the RNS was released, whereas the sale of the licences was conditional with a long stop date of July from memory. Can you please point to any evidence that this deal has now completed and the money is in the bank. I am not suggesting that it won't complete just that there is a lack of evidence that it has completed. The fact that SFR holds shares in GLR is ZERO indication of the sale of licences having completed.'

So I assume the suggestion is that for Kalaba and/or Cheyeza East to provide our revenue by the end of next year we will have completed sufficient exploration of our LEL to support a large scale mine, got all the preliminary assesments completed, had our large scale mining licence granted and got the plant in place and producing. Great - can't wait.

SwanseaRich,
That's correct.

https://www.parliament.gov.zm/sites/default/files/documents/acts/The%20Mines%20and%20Minerals%20Act%2C%202015.pdf
Exploration can be performed under a mining licence but not the other way round.
In addition there are strict limitations on who can be granted a small scale mining licence unlike an exploration licence
'3) Small-scale mining shall only be undertaken by a citizenowned, citizen-influenced or citizen-empowered company.'

https://www.sandfire.com.au/site/PDF/2a951a58-703c-446d-9cc7-13907bd312c9/PRNPerentitopartnerwithSandfireontheMotheoProject

AMS are to JV with a local Botswana company.

Hierarch,
Thank you for emphasing my point. You can state there is not an issue a million times and it won't make any difference but will clog up this board. :-)

I agree that there appear to be much more promising prospects on our licences, however company has spent shareholder funds and effort developing the demo plant at Kalaba and on a scoping study that was stated to include Kalaba.

The small scale exploration licence for Kalaba has been absorbed by the Handa large scale exploration licence. A mining licence for Kalaba no longer appears to exist. I agree that we haven't lost the area but there appears to be no longer a mining licence. This is significant considering the legal proceedings and would therefore expect an RNS.

I am anticipating an RNS before 8 am tomorrow to explain the loss of the Kalaba mining licence.

'An independent firm is being engaged to undertake technical and financial modelling for an initial open pit mine, examining several pit layout scenarios and economic parameters.'
As far as I can see the phase 1 drilling hasn't expanded the shallow mineralisation present in the system. The IP survey shows potential for expanding the system significantly in at least 2 directions. The mineralisation marked on the latest long section suggests the last 2 drills of phase 1 haven't expanded the near surface mineralisation to any significant extent. I assume the open pit mine modelling is based on the historic resource. I am struggling to see what has happened in phase 1 that has driven the decision to go ahead with modelling an open pit mine. Is it purely the outlook for copper together with the potential shown by the IP survey. Have I missed a substantial expansion of near surface copper?

 

After reading today's posts I have great confidence that Manica will be producing significant revenue imminently and I'll be able to write that debt off. :-)

Hierarch,
There was always an exploration license covering Kalaba but the mining license that also existed appears to no longer exist. This is not an admin change.

Hierarch,
An exploration license covering the Kalaba area exists BUT a MINING license no longer appears to exist. Quite happy for you to point me to an active mining license that covers the area.

Lets hope we are all very, very, very, very please with progress when an update lands. It better be convincing in terms of content.

Hi Orowe,
License changes visible at the time of the IC were splitting and name changes. A mining licence being no longer in force is a major change. I am assuming it is deal related but would have expected some confirmation. If we still have no news on Thursday I will start making some noise and I tend to be quite good at making noise that can't be ignored.

On the 4th May we were told all our licenses were in good standing. It appears the Kalaba mining licence in no longer - we need an explanation. I am giving it to Thurs and if we haven't had some news I will start making some noise.

There is an SEL within the boundary of our LEL that covers FWIJI does anyone the the history behind this? I would have thought if licence areas were being tidied up then this would be a prime candidate if Fwiji was on the table but I don't know the history.

Hi SeisNav,
I had a look and also couldn't find assays for drill 3 - there was mention of it being mineralised and a mention that the complete assays for it hadn't been received yet, so possibly the core went awol. It's a bit frustrating that we don't know what depth they drilled most of the holes or indeed if they were angled. It will be interesting to see results from the first few deeper drills. The licence area does seem really promising.
I think the start of drilling RNS will give a few clues as to what the story is. I really expected to have heard something at this stage as the disappearance of the Kalaba mining licence requires an explanation - if it was part of a deal I expected it to be the last item after everything was agreed and therefore would have expected to have heard something by now. This is not just a rejig of licences but a significant change to assets and presumably strategy that requires an RNS.

Ah SeisNav,
I now appreciate the difficulty of finding ref points even with absolute coordinates...