Member Info for GeologyStudent

It is difficult to determine fair value as this requires accounting for future earnings potential generated from the DMS plant. However, if one was to solely attach a value to a 60% equity stake in a 12ktpa operation, at the current copper price and expected operating expenditure, I would be inclined to give a range between �60-70mill. At 92mill shares in issue at readmission, I expect a target price of 65-75p. Further, I have read the two reports by Beaufort Securities, and in my opinion, they provide a slight conservative valuation. The share price could rise higher if the market accounts for potential value generated by the DMS plant which is expected to be constructed shortly.

According to the research report, �2.5mill of the �3.25mill CLN was loaned to the Mowana Mine, and the remaining �1.75mill will be used for working capital.

They have raised �3.25mill via CLN. They still require �1.75mill to complete the �5mill fundraise. As alluded to in the research report, this will be done via an open offer (I hope).

Kaz Minerals is expected to produce approx. 250,000 tonnes of copper this financial year.

If shareholders are invited to subscribe for more shares after the GM, I expect relisting in 4 weeks. The open offer will probably be available for two weeks after the date of the GM (13th November 2017).

The flotation plant is processing sulphide ore (with little to no oxide content) and will continue to do so with the installation of the DMS plant. It is explicitly stated that high-oxide ore is uneconomical. Things are materialising as intended.

Shares in issue will be higher than expected due to CLN fee shares, as a result my projected SP has dropped. I anticipate a share price of 70-80p+ upon readmission in November/December. Just my opinion.

http://www.alectominerals.com/investors/microsite.html

has been posted. General meeting on 13th November 2017.

Matala should be producing in Q3/Q4 too. Given Mowana and Matala, I expect 190p by year end 2018.

I suspect there will be 85million shares in issue; Mcap of �75mill; predicted SP: 90p. However, I believe it will range from 75-100p+ depending on sentiment and the extent to which future earnings generated by the DMS plant is accounted for. Upon fully operational DMS installation in Q3 2018, the SP could reach 160p. Just my take.

1)MJ was not CEO of African Copper (ACU) 2) Kevin performed an economic study of the Mowana Mine in 2008, I believe. The mine failed for a number of reasons; none of which put into question the integrity of the study. The reasons for failure are as outlined: poor geological model, poor management decisions regarding ore processing and depressed copper prices ($2/lb). Moreover, the design of the processing facility is not defective - wrong processing methods were utilised.

Leboam/Cradle Arc and Alecto are the two companies that are involved in the reverse-takeover. Leboam/Cradle Arc will own 60% of the enlarged share capital in the new entity. The owner of Leboam/Cradle Arc is Penmin which is controlled by Kevin Van Wouw. Kevin has been appointed non-executive director of Alecto as of last month.

http://www.zci.lu/ZCI%20Announcement_Cautionary%2005102017.pdf

press release state that the timeline for RTO completion has been extended to the 14th November 2017.

It'll be x shares per x you currently own, probably. You should look at Sirius Mineral's open offer.

Considering our attributable equity, a 12ktpa operation at the current copper price will probably be valued between £60-80mill. The shares in issue is difficult to accurately ascertain but I believe it should be approx. 80mill. As a result, we should see a SP of 75-100p which excludes the potential of the DMS plant. The DMS plant will approx. double throughput, and hopefully this will translate in the doubling of my SP projections in Q3 2018.

The private placement of £5mill has always been the intention of the company. As such, I have already factored this in my SP estimation. Further, I expect a significant uplift upon a successful relisting.

'Fund raising activities are continuing within the constraints of the Company's current situation of being unlisted and its future intention to re-list'.

I just received an email. Although there were numerous sections titled 'On going concern' in the Annual Report, the report was NOT qualified with respect to the company's ability to continue as an on going concern. The audited accounts were unqualified.