Member Info for Ella10

Hi Fulmar, SeisNav,
I'm guessing maths isn't one of your stronger skills..... or perhaps it is?

Thanks both,
I did see that a comment had been made about a mine and also wondered if it could be Ka****u.

Anyone attend the JLP meeting today? If so was there any mention of zinc?

https://www.lse.co.uk/rns/ARCM/casa-mining-revised-transaction-terms-m5wodskwrybxf80.html

Hi Kully,
I agree the court cases in Zambia are very relevant - do you really think any majors want to take a stake in assets that are embroiled in legal cases and quite likely to remain so for the foreseeable future. Zambia may be trying to improve their attractiveness but I don't think any major is likely to become involved in this for a long time. Obviously just my opinion and not investment advice.
If you look at the Rackla presentation of the 18th Dec you will see that they need to raise CA$15m and not just the CA$5m mentioned in the ARCM RNS.

Lets's see if $5m lands in our account by Friday...my guess is it won't!

The following from the Jan 2020 RNS gives the apparent reason why the first attempted sale of CASA fell through:
'The reason for the termination was that an updated legal title opinion was not able to be completed by the long-stop date. However, the Company's title opinion, that has been independently audited, confirmed that all Casa title issues were in good order, which was provided to Century.'

Did anyone have any further info on what the issue with the legal title opinion may have been? I read this as a potential issue with CASA mining owning Leda mining rather than ARC owning CASA Mining but could be mistaken. The latest info I have found related to the CASA option to acquire Leda is the following

https://www.mmg.com/wp-content/uploads/attachments/e_2013-06-24_VA_Leda_Amendment%2520Deed.pdf
 

50p by Chrismas?

Hi Fulmar,
Will that help our $3.3m liabilities for Casa?

This $3.3m liability doesn't seem to appear in our last accounts. We currently don't have Casa sold. The existing liabilities for Casa alone appear to exceed our cash position.

Smoke and mirrors..
Can they move CASA liabilities off the accounts for a third year?

Previous post posted before edit finished

From the 2018 annual report
'The Long term debt relates to deferred consideration of US$ 2,000,000 incurred by Casa Mining Ltd when that Company purchased and cancelled shares from a shareholder, Tremont Master Holdings. The amount is unsecured, non-interest bearing and due for payment in April 2020'

Tremont relationship to Denham Capital
'Tremont Services is a Mauritian based investment advisor to Tremont Master Holdings, a Mauritian domiciled investment holding company funded by Denham Capital  (www.denhamcapital.com).'

So it seems the CASA liabilities are $3.3m. The $2m was due in 2020 and conveniently CASA was 'sold' then. The $2m Rackla are supposedly paying to Denham Capital and the $1.3m appear to be existing CASA liabilities that are conveniently not in our accousnts for the last 2 years.

As previously highlighted the Black Rock Petroleum shares don't appear to be a convincing security for $3.5m.

From the 2018 annual report
The Long term debt relates to deferred consideration of US$ 2,000,000 incurred by Casa Mining Ltd when that Company purchased and cancelled shares from a shareholder, Tremont Master Holdings. The amount is unsecured, non-interest bearing and due for payment in April 2020

Long term debt relates to ed and can Ltd when that Company purchased and cancelled shares from a shareholder, Tremont Master Holdings. Th is unsed, non-interest bearing and due for payment

Tremont relationship to Denham Capital
'Tremont Services is a Mauritian based investment advisor to Tremont Master Holdings, a Mauritian domiciled investment holding company funded by Denham Capital  (www.denhamcapital.com).'

So it seems the CASA liabilities are $3.3m. The $2m was due in 2020 and conveniently CASA wa sold then.

There is also the small question of copper!
One tiny section of Massive COPPER sulphides with a resultant assay of 4.3m @0.59% copper for a full years exploration is not really terribly impressive....

Randox are also heavily involved in the University of Ulster.

Small_holdong,
Apparently drilling was delayed due to the court cases. ARCM apparently decided shareholders didn't need to be told this. I suggest folk contact the NOMAD and ask them to do their job.

To me it looks like they need to raise more funds than originally announced and this presentation has been fleshed out to try to convince investors that they are serious.
As for Black Rock Petroleum providing surety for $3.5m......

Time to provide shareholders with a proper update on the deal Nick!

Hi Teaye ,
Could you please explain that theory?

Denham capital looks very interesting

The shares supposed to be used to guarantee $3.5m of the Casa deal are down to $0.02 so worth $70k if they continue trading.

From May RNS
'c) As a condition to closing, Arc will receive a US$3.5m loan note in favour of Arc, payable by Golden Square on or before December 31, 2021. As security, Arc shall receive 3.5 million Common Shares of Black Rock Petroleum Co, an oil and gas exploration-stage company registered in Nevada and which is listed on the OTC Market in the United States;'

Hi F79,
The company Stout posted info about has some interesting conductance values. One of their conductance values is the same order of magnitude as B1. They have drilled that target and have assay results available so it is interesting to see what that conductance value meant for them.

I came across the following which discusses conductance and conductivity. Obviously I can't vouch for it's correctness.
https://d2zbxcnktjvvs5.cloudfront.net/1516887194/johnson-2011.pdf

Hi MH,
Have you found a decent fairly simple reference to any geophysics interpretation of conductance?