If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Zambian Govt have stepped in to honour the Glencore US150 million payoff via a 15 yr loan to ZCCM satisfying one of the last conditions precedent to the deal with IRH. Following link refers https. ://zccm-ih.financifi.com/download/zccm-ih-transaction-completion-announcement-mopani-copper-mines/
Like any major transaction the IRH deal is subject to conditions precedent. Three of these were approved yesterday (RNS 8497H issued by ZCCM including approvals by 1. The Lusaka Securities Exchange 2. The Securities & Exchange Commission and 3. ZCCM-IH Investment Holdings plc. Things are moving in the right direction, maybe behind schedule but all positive so far.....
Can’t see any reference to this in previous chats but ZCCM have confirmed IRH bid is moving on to ratification by it’s shareholders at an EGM on 23rd Feb so all looking +ve this will move ahead. Massive Glencore debt to be dealt with, so a good reason for all to vote in favour. RNS released 5th Feb on ticker ZCC.L.
Barclays update state that Avenir Registrars confirmed the acceptance of the Indemnity Notice on 23/09 and are reviewing. No indication of the timing of this review given. Assuming they issue a replacement certificate it will still have to be converted to electronic through CREST so I would imagine we are still weeks away ......
Barclays have made no progress. They apparantly have had to sign an Indemnity Notice which was sent by tracked mail 2 weeks ago. From what I can find out these are required for "lost certificates". See :- https://www.shareregistrars.uk.com/media/5cyb3lx0/letter-of-indemnity.pdf That just seems to add a little more confusion to the situation . The Registrars are still to respond ,,,,,,
Barclays the same. Apparently the share certificate received doesn't match the holding and they are in discussion with the Registrars (Neville I presume) for correction and reissue. Then there will be a wait for conversion on to CREST so likely to be a while yet .....
Analysts at Berenberg raised their target price on mining outfit Tharisa from 200.0p to 220.0p on Thursday, stating the group's recent acquisition of its Black Economic Empowerment partners' 26% stake in Tharisa Minerals would be accretive to its net asset value.
Dorfan01 you mention Tjate at the end which, apart from a short time when they received the Mining Licence, has never really had any perceived value on the share price because of the huge investment required to develop the mine and build a smelter. The innovative Kell Process (https://www.kellprocess.com/experience ) which is being incorporated into Sedibelo Platinum's new mine ( https://im-mining.com/2020/12/11/sedibelo-platinum-expand-ppm-operations-leverage-kell-technology/ ) may just change that.
The World Platinum Investment Council seem to have a different perspective .... https://platinuminvestment.com/files/834432/WPIC_Platinum_Perspectives_July_2021.pdf
Jonah58 and JLPpos comments on 6th June.
This announcement might add weight to your thoughts
Extract from miningweekly.com/article/bauba-completes-acquisition-of-nuco-chrome-stake-2021-07-05
Further, Bauba is also in the process of concluding an offtake transaction with a nearby platinum-group metals (PGMs) concentrator, which, if successfully concluded, will allow Bauba to capitalise on current strong PGM prices, which are anticipated to generate considerable cash flows.
These cash flows may then fund the further expansion of Nuco through the future development of its additional and significant chrome ore resource, a chrome ore spiral wash plant, associated tailings storage facility and potentially a PGMs flotation plant to capture the PGMs in the fine chrome tailings, Bauba commented.