Member Info for Ella10

I suspect Mr Bird observed what happened when previous RNS were issued and decided the market needed time to digest the info. I may be wrong and maybe I'm missing the body that is virtually guaranteed to be buried in an after hours RNS...

Billy,
DO NOT expect 24p by Easter. That was a tongue in cheek comment alluding to a discussion on here a few weeks ago.

To me he sounded confident of 1 million tonnes of contained copper ( although he didn't specifically say it) and I suspect he's expecting it to be 2 or close to it.

JDAU,
I'm afraid I don't have the figures. I'm sure CE said to expect 24p.... and I believe EVERYTHING posted on these boards...

It looks good shame they didn't confirm the locatiom of drill 3.

I'm expecting 24p by Easter.....

Is the acquisition of the KCB licences from GLR too insignificant to SFR to warrant it's own announcement? I had a look at the Sandfire announcements earlier and didn't see anything. Will they just get announced via the annual report.

He refers to " major breakdown in machinery" as a material event that would be reported.

Maybe we'll get an after hours update with a little more meat than normal. This would allow time for it to be digested by opening tomorrow.

Thanks C7. I guess the price quoted looks a tad better than the accompanying statement.

I am not aware of XTR saying drilling suggested Bushranger contains less copper than initially expected!! How can XTR be incorrectly quoted like this - it isn't voicing an opinion but supposedly quoting the company?

I have no idea what this site is but it claims that shares fell on 20th Jan after XTR said drilling works at bushranger suggests the area contains less copper than initially expected. Is this a genuine site?
https://m.marketscreener.com/quote/stock/XTRACT-RESOURCES-PLC-36899376/news/Xtract-Resources-Down-24-As-Copper-Findings-Fade-In-Bushranger-Project-32236262/

If you search for 'oz minerals northparkes a logical buy' you will find a Credit Suisse doc with info on Northparkes when it was for sale in 2013. It has lots of figures in it from page 3 no idea what they all mean...

Interesting info Andrew. The following seems to give some good info on Northparkes around the time of the sale. I haven't read or yet. It seems to be a bit of a sales pitch to the shareholders of a potential buyer.

Search for 'oz minerals northparkes a logical buy'

The April RNS does refer to the Sept 2018 RNS. My reading of the reference to the risk in the Apr 2020 RNS is that it was a risk the company acknowledged it was carrying at that point in time (ie Apr 2020).
Hopefully a RNS is imminent. There are obviously other avenues that can be pursued to get clarifi ation but an RNS in the very near future would be preferable.

Hi Westlad,
Previously you said "Cannot see how JLP or Zopco have anything to do with it. 19653 is held by EPZL (GLR and 5% Zambian Government). " and now you have said I am making cryptic and sweeping statements. I have quoted the rationale and am normally careful to highlight assumptions.
The above statement is incorrect JLP has the LEL. (assuming no further change has been made that hasn't been RNSed). GLR announced an offtake agreement with Zopco during the period the mining licence for the Star Zinc resource was being applied for. I quoted the RNS that clearly refers to carrying a RISK in relation to the SZ and Ka****u licences.

Neither DC nor I are sure what the end result will be but are obviously both expecting GLR to benefit. It was me who highlighted the application was an artisan application and not in GLRs name.

You say "there needs to be more more to the logic..." could you please expand on your logic.

Hi DC,
I can see the logic in your assumptions however I'm not convinced this is exactly the way it will go. The Ka****u licence is in the same boat as the LEL for Star Zinc and this is one of the other nearer term projects expected to be progressed. I assume both SZ and Ka****u will be resolved in the same manner. I do think it's likely either JLP or GLRs Zambian subsidiaries will be involved and I also think offtake signoff with Zopco had some bearing on the licence application. Time will tell and hopefully not too much time!

We need confirmation that the risk mentioned in the April RNS hasn't been realised.
'at its sole election and RISK, to proceed to the completion of the acquisition of the Kabwe Residual Rights (Large Scale Mining Licence 6990-HQ-LML) , including the Ka****u Zinc willemite exploration prospect ("Ka****u Zinc") and the remaining 15% of the shares, that Galileo currently did not hold in Enviro Zambia Limited (the "Sale Shares") (together the "Acquisition). '

It will also be interesting to see what the plans for ka****u are.

From Toodyay ASX report 2007:
"The Racecourse Prospect covers a significant copper (and minor gold) mineralised zone of 1000 metres strike length. The tabular mineralised zone varies from 30 to 130m in width and has been intersected to a depth of 350m. "
If the third drill gives us some confidence in strike length then making some large assumptions on continuous mineralisation and using the three drill results you can make a guestimate at the additional tonnage added to the JORC.

I hope that guy with his bucket and spade realises the expectations being placed on him. I assume he's in good shape. :-)