Member Info for Ella10

I haven't unravelled this RNS yet. Presumably if asset sales and share sales conclude we will also get our loan repaid. One concern I need to work through is are we left with any significant liabilities if the 2 asset sales complete but the share sale doesn't complete.

Kopore are planning to acquire a new uranium project and have issued some ASX announcements. Their cash position from the end of Sept to the 6th of Dec appears to have increased by approx A$0.3m. I'm assuming this is from the sale of ARCM shares and presumably they also spent some money in the interim. My guess would be A$0.45m of ARCM shares sold.

Hi Clever,
Not me. I have however been wondering what the next dead duck will be to be produced from Mr Schirnding's ever disappointing hat.
We are due the AGM joining instruction RNS before the end of tomorrow.

Andrew,
Seems reasonable, the only bit I would call into question
'We know CB can be a bit “optimistic” with his predictions'...

Siege applications on the Ka****u area have now disappeared. Galileo Mining's application is still present. Boniface kaluwa has a SML sitting at pending transfer but it has been like that for ages.

Sorry, you misread that ! I really didn't say approved ;-). I meant to type transitioned to validated...

I don't think that it's coincidence that this was announced after the Siege SZ mining licence had transitioned to approved. I believe the check to transition to application validated is that the applicant is entitled to the mining rights.

I haven't dug around this new project yet but I would have preferred to see some income from either SZ or Ka****u before taking on another project in Zambia.

Thanks Ortus,
I hadn't spent time to find any links. I agree the Zambian government need to encourage foreign investment but they have also promised benefits to Zambians.
Folk need to remember that NVS was in charge when MM was invited to join ARCM as a director. NVS was also in charge when a lease for Kalaba was agreed with MM for no charge. There was obviously something odd about the lease, particularly as the use of As far as I am aware the the only income ARCM received the previous year was from the sale of copper from Kalaba so I think the class test would have required shareholders to be notified of this lease. We weren't notified about the lease until the annual report was published and possibly only then because it was already being heavily discussed on these forums due to the court case.

8ead,
IF the licence applications are approved then whoever these companies are would presumably have the rights. I don't know the ownership of the companies and the applications are still just that.

Extra Cover,
The source is the Zambian Mining Cadastre which is what I also used as a source for when the Kalaba mining licence disappeared. It contains information from the Ministry of Mines.
https://portals.landfolio.com/zambia

Hi Longfell,
You have been one of the more decent posters on here and I do feel sorry for any funds you have lost. However, for anyone who hasn't noticed I have zero sympathy for the serious rampers who turned into horrific bullies when I posted excellent research on items that weren't as they should be. Neither do I have sympathy for large holders who trade the share continuously but are, despite their best attempts, stuck unable to trade at the moment. Folk should be knocking on Mr Schirnding's door asking him to explain why he misled us and getting him to sort his mess out.

Oh dear - Perhaps 2p will be reached sooner than I predicted? I see Kopore are in a trading halt.

Hi Longfell,
As F79 pointed out we don't know if Kopore have started dumping their shares yet.

I agree Metalhead, but I believe this event was originally mentioned as the response to shareholder requests, from Aug/Sept, to hear from Mike and Hillary .

I think this hole is very important in terms of validating the model. If they don't find a conductor at the depth they expect then it calls the model into question. The model and their exploration methods being deployed on the KSZ are their big selling point. If we don't have a discovery on this hole but there is a conductor at the expected depth that would obviously be disappointing but wouldn't have the same significance as not finding a conductor at the expected depth.

I would certainly love to know what is in the SE anomaly. I suspect our geos already have a fair idea from some of the existing drills. .

I have reread the hole 29 info in the RNS numerous times and still can't figure out how to interpret it. The core is going for assay so surely this means there is a good chance of something worthwhile in it. The pyrrhotite-pyrite mineralisation was stronger, not necessarily the chalcopyrite. I am hoping we have some gold associated with this siliceous alteration and it is not just a barren silica cap. I cannot figure out how to read it.
Does 'slightly to the east of the southern extension of the Racecourse mineralised porphyry' mean we have hit another area or we are outside the mineralised zone? I think high silica zones can also be associated with epithermal gold.
'Based on preliminary logging, and subject to laboratory assays, the hole intersected zones of very siliceous alteration with traces of chalcopyrite from 66m to 525m downhole. A zone of stronger pyrrhotite-pyrite mineralisation with associated chalcopyrite was intersected across a 40m interval between 225m and 266.4m downhole. The main Racecourse porphyry body dips towards the west, and with the promising signs of porphyry-style alteration and mineralisation, it is interpreted that this hole drilled slightly to the east of the southern extension of the Racecourse mineralised porphyry.'

I also wonder why we haven't had an interview with the man himself lately. Normally I am pretty sceptical but I am finding it difficult to read the current situation.

 

The different coloured dots were, I believe, approved drill locations rather than necessarily planned drill locations - happy to be corrected. It may be some of these locatiins don't get drilled due to updated thoughts on best drill locations. We had approval for these locations but I'm not sure if all land access permissions had been agreed.

Hi Andrew,
I can see your point. I couldn't find anything that would link all three quite that closely.

Definitely worth taking a look at his tweets of the 16th March and the 18th May.

The Lachlan Transfer Zone is shown on page 4
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

It appears to be more commonly referred to as the Lachlan Transverse Zone.

Seems like BoD are desperate to get Zambians onside. Perhaps the reports about Chief Sailunga not being happy and causing issues for ARC have some merit?