Member Info for Ella10

The area marked for one of the licences appears to be an area previously PL650/2009 which mod resources quoted in an Apr 2014 RNS as being 177km2. This doesn't tie up with the area size quoted in the ARCM RNS. It may be that the licence area was reduced in size but it looks like the area marked in the map which was included in the ARCM RNS.

Hi Phoenix,
I don't know but I would hope the company aren't wasting shareholder money redoing surveys that already exist.

Hi DC,

If you do a search for 'PL651/2009 mod' you should find a minerals concessions map of metal minerals for Aug 2014.

It is obviously out of date but you can see the shape of the various licence areas and there fore how one licence relates to another. They must get a different number on renewal or reallocation. GLRs PL39/2018 was PL651/2009 which was relinquished by MOD in 2014 due to low prospectivity.

The location of PL162 as shown on slide 8 and the coordinates of the survey for PL162 as shown on slide 9 don't seem to match up. I looked at other maps showing zone5 with the coordinates as per slide 9. PL162 appears to be either further to the east than shown on page 8 or the coordinates on page 9 are incorrect.

Viable,
It looks like some surveys Have been done on parts of these licence areas.
See slide 9 here:
https://www.investi.com.au/api/announcements/kmt/a858b189-395.pdf
And slide 5 here
https://www.investi.com.au/api/announcements/kmt/c27845f3-dd7.pdf

As far as I can tell PL162/2017 survey area is adjacant to GLRs PL40 which has also had a surevey completed and seems promising in the area next to PL162.
' Data obtained within PL40/2018 is interpreted by Galileo's technical team to show this area has a comparable geological setting to Cupric Canyon Capital's Zone 5 and Zone 5N deposits, situated only 25 kilometres due west (which are a subset of a combined sulphide resource of 502Mt @ 1.4% Cu and 17g/t Ag, including 185Mt @ 2.0% Cu and 27g/t Ag)'
Sandfire have agreed to purchase PL368 from GLr which is adjacent PL40. The following is froma GLR RNS
'PL 368/2018 at its southeastern boundary adjoins PL040/2018 where the Company is currently undertaking exploration work. Kalahari sand cover is thought to be quite thick in this area, however regional aeromagnetic interpretation suggests that the prospective lithological horizon may extend beneath the sands across a segment of the licence, forming a contiguous target with that being investigated on PL 040/2018.'
It appears that this area is looking very promising assuming my analysis of the 3 licence positions are correct.

It is interesting that SFR are purchasing PL368,
which apparently adjoins PL40, so is therefore in Cupric Canyon area. Seems strange if this was the only licence they were purchasing in this area. Still wondering what those extra SFR shares were for...

Sorry missed your link !

Hi DC,
Where did you find the maps? 75p sounds ok but you probably need to give your lifestory to them first which I do not like doing.

Hi Iky,
CB stated GLR was to be drillng the KCB by the 4th week of March. I expect the survey results to be released together with a drill plan and notice of approvals required before drilling begins. I obviously believe everything I am told therefore as time is running out I would expect an RNS tomorrow. :-)

Hi DC,
Yes PL043 is on the map and in the acquision of licences but not in the SFR deal.
I don't know where the africibum licences are - 2 of them were licence applications one of which is not included in the agreement. Just trying to understand what GLR have and where it is. Trying not to get too drawn in as I have sold most of my holding and am really pi##ed with comms at the moment.

Thanks DC,
I found that map did you find anything for the Africibum licences?
The other application (which may or may not have been approved) and PL043/2018 seem to have been left off the agrrement. It may be they were targeted for someone else but PL043 is next to SFR, I don't know where the application licence was.

Licence PL154/2020 (assume it was an application when GLR bought it) was included in the SFR sale so I think we must now own the other licence application if it is/was approved and PL043/2018 without any obligation to SFR.

I have been looking into the licences we acquured trying to understand what GLR will still own assuming the SFR transaction completes.

We bought 24 KCB licences, 2 limpopo licences and 2 applications.
We have agreed to sell 9 KCB licences.
There were 15 excluded KCB licences in the SFR deal which we still own.
There are 2 LMB licences which we own.
I assume we will own the 2 applications if they get approved.
However licence PL043/2018 is an oddity - it is neither an included licence or an excluded licence. It sits between a licence we still own and a licence SFR have agreed to buy - has it been the subject of a ' bun fight' that has got lost in the transaction???
Has anyone come across a map showing the africibum licences?

Easter Holidays - they're in April!! :-)
I wonder if 2 licences in the KCB are enough for ARC minerals.

Indeed I'm expecting an RNS in the morning giving the survey results and drill plan and letting us know all the relevant permissions are in place for the drill will be in position at hole 1 on Monday morning. :-)

Dibs61,

Read the bulletin board and look at the share price.

I suspect the company had drill1 assay results for quite a while before the RNS was released. The previous RNS had stated the length of mineralisation so the assay results had to back this up. I think CB knew folk would be a bit dissappointed by the grades so a fair amount of time was spent trying to check the results were correct and presenting it in the best light possible. I think they also realised the headache they had given themselves and so drill 5 gave less info in the RNS. Drill 2 should give a better idea of the different grades through the system and may not provide the same headache to put into an RNS. I am hoping we will see a slight improvement on drill 1 but if we don't we still know the size makes it a good prospect. Just my suspicions.

If they're good I think they could appear during trading hours this afternoon.

DC,
I guess if CB has any of our licences up for sale and he achieves somewhere over your valuation that wouldn't be too bad...

Announcing a placing and an acquisition paid for in shares in the one RNS seems strange. The placing will have had an impact on the VWAP and therfore mean the acquisition will cost more in shares. Was this done unwittingly or was it a specific strategy.