Member Info for Ella10

Hi CE,
', with drilling planned to commence in the current week' - I would hope that 'the current week' even in CB language doesn't translate to over 4 months later??

Hi HE
At least it seems that there is someone on the ground in Botswana. I did think news on the sale to SFR might have arrived today - I assume the fact that just two weeks was added to the long stop date means it was pretty much done and dusted. I find it difficult to imagine we have had any significant finds with the drilling and CB has kept quiet - Mr Bird please prove me wrong!

Hi Teaye,
Spot on - some of the posts are very flakey.

Hi Rocktapper,
Stirling work, but it appears that that particular rock is very dense and may need a few additional taps ....

https://bw.linkedin.com/in/omphile-ntshasang-2b9b7255

SFR had six rigs working on the A4 deposit alone in December. Currently they have 5 rigs split between A4 and regional exploration going up to six in mid Sept...

One of the licences we are selling to SFR is in the Motheo Expansion area. I did wonder if the rig they are expecting in mid Sept could be busy on licences currently owned by GLR.

From a post on another board

https://www.proactiveinvestors.com.au/companies/news/959531/sandfire-resources-hits--stand-out--intersection-of-45-metres-at-22-copper-and-426-gt-silver-from-439-metres-in-botswana-959531.html

It's quite along article, here's some tasters:

"Sandfire Resources Ltd has hit a whopping 45 metres at 2.2% copper and 42.6 g/t silver from 439 metres in step-out drilling at the A4 Dome, west of the Motheo Copper Mine in Botswana, Africa. This intersection, which also included 2.1 metres at 8.25% copper was returned 1.2 kilometres southwest of the recently upgraded A4 mineral resource." and...

"“It also confirms the potential to discover high-grade vein-hosted mineralisation in other domes within the Motheo Hub, notably the A1 Dome, 25 kilometres to the northeast. In the meantime, our regional exploration effort is also gathering momentum with three rigs targeting extensions to known mineralisation in the T4-T23 area, approximately 80 kilometres west of the Motheo Hub, and systematically working through other targets such as T5, T14 and T45.”

"Sandfire has a clear pathway through the A4 satellite deposits and is beginning to demonstrate the huge potential for further step-changes in its growth trajectory of this largely untapped region."

From the June RNS
'Xtract has agreed to spend at least A$350,000 (£189,000) on exploration drilling and resource definition drilling on the Tenements within twelve months of the date of Completion. The exploration costs will be funded from existing cash resources and future cash flows.'
We have spent well in excess of this amount so that box should be ticked. However the April 2020 presentation suggests that the annual expenditure commitment is spread across the 4 licence areas. The amount per tenement is fairly small but does anyone have any thoughts of how/if this commitment on the other tenements will be met?
 

I wonder if Kanye and Mindea are likely come to an arrangement where drilling is provided in return for X amount of cash plus an ability to earn a % stake in Kanye? I realise shares are probably easier to distribute , but with it being a JV and POW having so many projects a minor earn in stake in the JV might provide more incentive for a speedy, successful outcome on the KCB?

SQ52,
We will get more detail on the locations/angles of the holes when we get the assays. It would be nice to see the model updates as the assays drop but it pronably depends how much overhead there is in producing and reviewing a version for publishing.

Cheers Slurms - a rational response.

Hi Fulmar,
We had a dog called Shep. He was an extremely intelligent dog and I was under the impression that all dogs of that breed were intelligent. I guess you do always get an exception to prove the rule.

Hi Fulmar,
Are you suggesting ARCM were in discussion with Rio, prior to the middle of July when the exclusivity deal with AA ended?

Interesting, there appears to be a disconnect between POW and KAV on the super warrants. From KAV Sep 2020 RNS
'Should Kavango exercise the Acquisition Warrants within 12 months of issue, they will receive 1 for 1 replacement warrants to subscribe for Power Metal shares, exercisable over an additional two years at an exercise price of 5p per share (the "Super Warrants").'

Hi F79,
Folk have haverefuted my posts with a personal attack on me. I don't see people providing any examples of incorresct or misleading statements in my posts. Look at the reasoned polite arguments SeisNav and Fulmar have provided (Not!l). Someone posts info taken from the company sources they have access to and they get personal and irrational abuse. Court case resolution and Rio involvement posts with no confirmation of sources are acceptable?? Investors are entitled to see a balanced view. I don't need to post with rose tinted glasses there are enough folk on this BB who do that.

Hi PGTips,
Last year's annual report hasn't been issued yet as it was delayed and is due before the end of the month.
All sorts of reasons the interims could be delayed- perhaps covid is really causing significant delays in issuing a report, perhaps there are some complications caused by items that require correction or perhaps their books aren't looking too healthy and they are taking the standard AIM approach to delay telling shareholders for a along as possible.
I am hoping part of the reason is that the director options are going to be revalued due to them having surrendered them in a closed period.
I am sure I will find much to fascinate me in both reports when they are finally issued.

I think there's a chance we will get the first assays next week. CB seemed super confident about mid Sept and I think he is really trying to ensure he doesn't over promise on phase 2.

Oiliest,
You forgot to add 'hit' :-).

Maybe he's going to announce in the IC that Kalaba has been sold for £3bn and AA, RIO and BHP are in a bidding war for Fwiji. They'll probably also reassure shareholders that they are fully funded through to the end of 2022 and that the surrender of options really was for the benefit of shareholders and explain how the 50% decrease in SP was for our benefit. The CASA loan has now been all sorted and we're getting a fantastic deal that commences payments in 2050. I'm sure it will be educational.