Member Info for Ella10

SeisNav,
I think this will convert the coordinates on the drill map to the same as the mining cadastre
https://epsg.io/transform#s_srs=20935&t_srs=4326
I'll try to work out some rough coordinates.

I realise this is a little cynical and has only just occurred to me. The surrender of the share options has never sat quite right with me as it seemed as if directors wanted to release funds for some unknown reasons. The accounting period was changed such that the latest accounting period is up to Dec 2020 this means that any payments made under the surrender of options will not be seen until accounts for period ending Dec 2021 are issued - is this a coincidence?

SeisNav,
Great work and very reassuring. It's interesting that the yellow area on Sentinel doesn't expand the area very much.
I found this map of some of some of the Cheyeza drills - it's not very accurate.
http://s2.q4cdn.com/256050873/files/doc_downloads/CheyezaEast_Geochem-DDH_Labels.pdf

APR - great facts - have you the mine design finished yet??

I just want to see an update with some substance.

After hours today??

Does anyone know if assays for all mineralised sections are likely to have been logged. I'm wondering if the historical drill data will be available to support an expanded JORC at a lower Cut-off. I assumed it would be but the reason I ask is that I was looking at what appeared to be a check on BRC016 for 1.5m at 200m - I assume they were trying to confirm if there really was a gap in mineralisation between the two higher grade sections. This made me wonder if they were doing a check on existing assay results or if those results were not logged and they wanted to recheck the core.

Has someone hacked CE's LSE account?
:-)

I wonder how long the EM survey by drone will take. The Recent IP survey took a month. It wasn't clear how much of the licence area would be flown but reading some bits online the suggestion seems to be an EM survey can be much more successful at aiding an understanding of porphyry mineralisation.

I think there's a good chance of an update this week but it may well state
'We may have suggested we started drilling a few weeks ago but we're planning to start in about 9 weeks - we know our shareholders won't mind that we're starting 3 months later than announced - after all what's 3 months between friends'
:-)

I could request the RNS be updated to clear up the ambiguity. I don't plan to do that .
COLIN BIRD
Please clarify the payment date in your next GLR comms.

Oiltap,
In one statement the 90 days only applies to the signing of the agreement and in the other statement the 90 days applies to both the signing of the agreement and completion.

Completion was never going to happen before the signing of the agreement therefore if the 90 days was expected to apply to the completion date it would have just stated 90 days after completion. The table containing info looks like it is extracts from the contract. I think we should have been paid by now.

The following 2 statements are conflicting
'US$50,000 is payable upon completion and the balance of US$700,000 due at the later of i) 90 days after the date of the Agreement and b) Completion.'
And
'Payment of Consideration: US$50,000 will be paid on Completion and US$700,000 paid at the later of 90 days from i) the signing of the Agreement and ii) Completion. Completion will occur once the Star Zinc Project Licence has been assigned to Siege'

Let's hope the contract is less ambiguous...

There are 2 similar but conflicting statements in the RNS. Completion was always going to be later than the date of the agreement so it makes sense that the 90 days only applies to the date of the agreement.

HD,
Here is the link to the cadastre - search for siege.
https://portals.landfolio.com/zambia/
From the RNS
'US$50,000 is payable upon completion and the balance of US$700,000 due at the later of i) 90 days after the date of the Agreement and b) Completion.'
So should already have been paid.
90 days after the agreement has lapsed as the effective date was in Feb and completion as defined by the assignment of the licence has also occured.

HD,
According to the RNS all $750,000 dollars is payable in the on completion or 90 days after the agreement. The 90 days are about up and presumably completion has occurred so due anytime if not already paid.
On reading the RNS again I found it interesting that the royalty is for use of GLR info rather than any project/licence ownership.

....

Iky,
Assuming the RNS on the sale of licences is accurate, the conditions on the sale completing are regulatory conditions so unless anything crops up there the only thing either company could have an influence on is the time it takes to complete.

I wasn't surprised the deal hasn't completed yet - there was no evidence that it had and these things take time. The big positive from this RNS is that CB took the opportunity to let shareholders know that it was ongoing, hopefully a sign of the improvement in comms we can expect in the future.

Interesting RNS. So the SFR deal hasn't completed and I don't need comment on the 3.5 million in the bank.....