Member Info for Ella10

An interesting Sandfire announcement.
https://www.sandfire.com.au/site/PDF/52cedaa3-4051-4381-ae74-fe71adc106dd/ProposedissueofSecuritiesSFR

I assume these are for GLR but the quantity of shares and VWAP appear different to those in our RNS. I wonder if the deal has changed.

Mr Negative,

Only the sale of the licences and cash and shares from SFR are still conditional. The earliest completion can be is 30 working days after the agreement so we will have missed March dividends. The GLR shares have been issued to them.
I totally agree we need to be kept informed....

Hi Oiltap,
Where did you find the info that QH has share options in GLR? The Nov RNS does not mention consultants as owning any shares and I am not aware of him falling under any of the other categories but could well have missed something.
https://www.lse.co.uk/rns/GLR/issue-of-options-b6knb5cgvfzvngz.html

Hi Shorn,
This comment was in the quarterly activities report - not sure if it is referring to the same drill as the recent assay results but I'm assuming that it probably is.
'Subsequent drilling is planned to target across the northwest structural zone to intersect the breccia down dip, where the sulphide cemented breccia may change from chalcopyrite dominant to the more copper rich bornite dominant. This will also test for a possible ‘causative’ porphyry intrusion to the breccia and Boda system. The planned drilling is to commence early January 2021. '

Hi 3CB,
I can't answer that. I was just clarifying that the dome mentioned by Padmaster was on the included licences.

Hi Padmaster,
The dome feature mentioned in the Nov RNS is on licences PL250/PL251 which are in the included licences to be sold to Sandfire.

Cheers for the info. I'll have a dig to see if I can find any other info showing they'd be likely to support a mine here.

Hi CE,
I haven't a note of his exact words but enviromental concerns was my interpretation of what he said. Please feel free to quote him directly. Perhaps you could also persuade someone to post an email from CB stating that there are no concerns in relation to getting a mining licence assuming the resource is economic.

In the interview CB mentioned environmental concerns as one of the reasons for reusing th drill pad. It made me wonder how that consideration aligns with mining a monster. I've no idea if it os an issue - did a bit of googling but came to no real conclusions. If it is a significant concern it would be have a similarity to something else recent I have observed.

Iceberg,
look forward to your 10 line summary of that wee doc.

Is the fact that Racecourse is in the Vulcan State Forest likely to impact valuation?

Hi Phoenix,
Hallf the deal hasn't quite completed yet. Previously I had seen no risk this completing. This weeks stunt means I am no longer sure. Not the fact that SZ has been derailed but Monday's antics.

Thanks Westlad.

Hi DC,

From the RNS
'If the Zinc concentrate grade is 25% for a sale at a zinc price of US$2,500 per tonne this would result in a royalty of US$18.75 / dmt whereas if the Zinc concentrate grade were 30% a sale at a zinc price of US$2,500 per tonne would result in a royalty of US$22.50 / dmt.

So for $2700 and 15% I make it $12.15 and not $20. Admittedly, I may still be missing something.
I cannot see how we can get anywhere close to £300k. We're obviously not all going to agree. When I suggested we mightened get 95% of the max possible value some people suggested that could never happen and put some rather strong words around it but appear to have changed their tune to now think 3% is great. Seems a bit odd.

I can't see anything wrong with my annual figure for 100% if a 3% NSR is £300k.
To use given figures
6000 tonnes
Grade 15% (which is very slightly enhanced)
Zinc price $2500

$2500×0.15×0.03 x 6000 = $67,500 = £48,600 per month

So higher than my original £15k a month.

I do not believe an "artisan" mine operation in Zambia will be producing £120m worth of ore a year.

That would make 100% equal to £120m a year...
It's more likely to be in the region of £15k a month.

Hi Shorn,

Whover took the placing shares on the 30th Sept also got warrants. I think it is only if shares are held and breach a declaration threshold theat the recipients are named.
https://www.lse.co.uk/rns/XTR/issue-of-equity-01t8qcgwv89gslw.html

Hi DC,
I mostly agree with your post and am currently collating info that I plan use in a constructive manner.

What you're suggesting is people who think the company behaved inappropriately should move on and not look back. This would mean there would never be any action taken to rectify any issues. Not sure this is what the regulatory authorities would promote.

As an aside it appears to be warrant season - both JLP and XTR have had a bunch of warrants exercised in the last 2 days. It will be interesting to see if GLR follow suit (I don't think they will).

Phoenix,
Please read my posts again and highlight any where the tone was not that I was concerned about the implications available but hoping that it would be ok.

Hi Phoenix,
Could you please elaborate on the following statement
"Ella you changed your tune few times. "