Member Info for FunkySausage

Data previously posted this about Luansobe.

Anyone want to Hazard a guess at value of this

500k tons of rock a year, say at an average of 1% Cu. = 5000 tons of copper a year
Current copper price £7750/ton ish
= £38,750,000 max NPV per year (if I have terminology right)

Comparing to SZ where we were going to just sell the rock to JLP at Sable refinery (£10m a year for 6 years) we were destined for approx 50% of the (what I'm calling NPV per year). So using the same ratio

£17.5m a year revenue from the small open pit to us for 8 years

£140m total

A sniff of us getting that £10m a year shot us up to 2.68p so imagine what the SP will do on the journey up to £17.5m a year.......not to mention copper prices returning to £10k per ton hopefully

We are waiting for shiganda results, to see if there's any gold, we know there's copper and await the results to see if there's any gold there also, a nice 12km x 6km target, love that.

We also await roughly 5mill for rye gelnover sale, this should also be in very soon, we already know the compnay has raised money to buy the rest of it out, a nice extra chunk incoming as well as out star zinc money, all very nice for drilling money.

Luansobe to be up n running early next yr, that should also bring in a substantial amount from the open high grade pit, cant wait to see the jorc for lunasobe, should be incoming at some point soonish.

The SF deal has upto Feb 2022 to be completed, im sure someone can provide the rns for conformation. If my memory serves me correctly, SF have ti pay us after 30 days of producing a Jorc. While SF has 7 licences of ours under their wing amd are happy to spend 4mill drilling them out, we also have a huge land holding in the Kalahari with a oval shaped Dome target, Mr Bird recently spoke about targeting this. So we still have legs in the Kalahari other than the SF deal.

We also have luansobe that is meant to start our mining adventure, we have the Jorc incoming at some point this yr, Mr Bird estimated that it would be 10 - 12 yrs high grade open pit, churning through 500k of dirt per annum, this will seriously contribute to our coffers either through revenue or sale or both.

There could also be a JV for Ferber, Mr Bird spoke about the neighbour recently in one of the podcast.

We have the large High grade zinc at ka****su that also needs drilling, probably a easy sell to the star zinc guys.

We have the new lithium project, which sounds rather tasty as well as the gold and copper, grades sound good, the new aerial data sounds fantastic, certainly some good size km there.

There's also some licences held for magnesium and iron, covering hundreds of KM, these haven't had any work done on them yet

Big sell this morning for 80k plus

I thought the interviewer seemed surprised he didn't say Luansobe

Thanks Data

The open pit sounds like it's growing by the day, Luansobe sounds like it's a real game changer for us, it's certainly gonna bring home the bacon, Colin has done us proud with this and a few others, I noticed Colombo is missing, not surprising, the Kalahari deal should provide us with plenty of spare cash while we wait for luansobe to come online and we start seeing some real cash coming in per month, what's not to like here ) happy days

Thanks for posting the podcast Cast-iron, I just don't have the time I used to these days to research independently as I would normally, these 2 little baby girls are taking all my time up, I've gone from sitting around bored researching, to full time daddy, I didn't realise how consuming this parenting malarkey would be, but im enjoying ti the max.

GLR certainly looks like it could go seriously mental over the next 6 - 12 months, guess I'm gonna have to grab another million shares while I can )

Ana

Yes it should be done rather quickly, I think there's a deadline to provide a Jorc for Lunasobe, so should be done all rather quickly, again this looks to be aimed at around Feb 2023, like lots of other good stuff

Flipper

Aren't the 30 holes just a re log ? Along side the 3000 drill campaign

There's just no rush to buy if you haven't already, that's all, it's quite evident that the global economy, especially the west is about take a hit, through combined factors that have created a perfect storm, not seen for decades, these combined events of covid, war, inflation, money printing males the next 6 - 18 months rather a challenging climate, the market wide drop will leave no one out, regardless, all the big miners are down, the small ones worse, this is how it is, patience now is crucial for entry if you haven't entered, if you are already in and a LTH, then you are used to holding through rollercoasters, in the end you will have nothing to worry about, as the recession will be long gone and if you can you will wait for the full up cycle to be in full swing before you cash out maximising profit, there maybe short term pain along the way, investing is never quick or smooth, but patience is everything, whichever side of the fence your sitting atm

It should also be remembered that we have retained 17 licences or so, this is after handing over 7 for SF to drill and purchase from us ( hopefully )

Colin also said in one of his interviews, he has retained the best licences for GLR, im sure once the SF deal has finalised, we will start a drill campaign on our remaining licences in the Kalahari, we have only done the minimum to retain the licenses so far.

SF have to pay us on their release of their first Jorc, that's this quarter according to SF, Feb latest according to rns and Colin Bird, Sandfire been spending 4mill on our licences, any not spent is returned in cash to glr, SF has multiple drills in yhe area drilling, so it shouldbr be a issue with them drilling it out in time

The rns also says payment within 30days of Sandfire announcing the Jorc, so if SF are doing the Jorc in this quarter, we should get paid a little bit early, so it could be before xmas

Thanks for that, your right, a much better scenario, 80 looks.like a good possibility.

The dome should provide a good chunk of that, shame we don't know the grading required, it should be either 0.5% or 0.4%, so if there's a good chunk of high grade in the A1 dome it should hopefully gets us half way there on that alone

On that math, it's 1.6 bill contained copper for the full 80mill, not a easy target to max out, but we can be sure of receiving a good chunk of that, every 10mill is a bag ) reckon we have atleast a few bags worth there at worst and ofc 8bags at best. Happy days )

We have so much going on atm, all points towards Feb 2023, Colin bday yr, reckon its gonna be a corker for all involved here )

Yea SF has fallen alot recently, like most miners in the current climate, but are fairing better than most sectors, 200k contained copper for 10mill, I could be wrong but for the 80mill would we not need to have 1.6bill contained copper ? , across 7 licences, shame we don't k ow the min grade for calculations, but average used to be .5% but it seems ti9 be getting to .4% these days, that A1 copper target should be juicy enough on grades to give us a very good head start, would be nice to know how much drilling has occurred so far, good news is they haven't given back any licences , sp there all in play

Atm we basically have nothing, once the lunasobe Jorc comes in in this qaurter, it should give us some momentum, then we just have to wait for mining luansobe and the kalahari deal to come off, that's all coming along in February, not long to wait, plus we have other licences that will help with pockets of info and we have the glenover cash to come, which is half our market cap, patience is everything )

Cobre has done well recently of the back of finding copper 150% on 1 day, they have nothing like what we have either, with glr licences far superior

Yea there's rumours of a 600bill stimulus, tge zero covid policy has really hit them, it has also caused alot of the supply issue inflation in the world, Asia could escape the harshness, but the west unfortunately certainly wont, US enters technical recession, Germany on the brink and the UK, gonna get a bit more messy before the celebrations start, still bargain shopping around Xmas should be fun

The board has done us some justice and shoukd be rewarded, while it's quite common for companies to give generous options to the board and company, it must be remembered that Colin took shares instead of a wage and also didn't take any bonuses for the deals he has got us, he could of easily taken those bonuses, but he choose not to, from that I am happy for him to be rewarded with options, lets see how we are doing late Feb early March when alot of deals will come together and hopefully pay off.

With the US China and the EU all falling into/towards recession cash remains king, the summer bounce looks to be over for now, where will tye prices for commodities fall 2 ?