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Should have 6 months of drilling in the dry season
Newsflow to come from Botswana first
will take a while for essays to come through on Zambia about 6-8 weeks for results so don't expect essays to come quickly.
They are not looking for a partner for Bots yet its a strategic licence.
Still looking at other licences got out bid on the last one.
Can't tell us how many rigs they will be using Anglos are driving the comms.
Can say they won't have a problem getting rigs.
They were going to raise after the JV but decided against it
Didn't expect the sell off from the Pension fund.
It is his duty to make sure Arc are in a good cash postition in this market.
strong cash position now.
Anglo are methodical in their approach. will be surveys envirnomentals etc there is a process for the LML's.
He stands by what he said in December most exciting Copper play he has seen.
Did say something about BHP/Anglo deal if it effected the JV in any way there were others interested in the project.
The only part that gives me some hope is the one client must be big.
It should be noted that of the current pipeline figure of £330.7 million, there is one single client that accounts for approximately 57% of the total pipeline.
O'Brien | It's certainly got to go in drilling. I think for us right now, we've waited a long time to see what Dumbwa is made of. Dumbwa is a fantastic target. It's unique, it's high grade, it has all the makings of a really exciting story.
We still have three other targets to go and drill. We have KoBold, we have the excitement around that, we're pumped to be partnered with them. I mean, as I said, they're bleeding edge. They're doing things that nobody else has really ever done. They're moving forward.
We have the amazing geological team but a big drill program at Dumbwa is going to be super exciting for us, and then we're making our own plans now to attack something else that we have, which is oxide. You sort of have copper oxide in the top part of the stratigraphy and sulfide deposits down deep, right? So we're looking for these big sulfide deposits.
We also have oxides, and now we're looking at an approach to doing that. So we're looking for funding, and we're going to go out and start chasing oxides and see if we can put a resource together that would create a near-term mining situation.
In Zambia, 75 per cent of their export earnings are copper, totally mining-centric country. You've got every big player in the picture. You've got First Quantum, Barrick, Rio (Tinto), Anglo (American), now KoBold. You've got Ivanhoe just north of us in the DRC, which is a much tougher jurisdiction.
So you've got jurisdiction. What kind of scale are you dealing with? Well, every deposit pretty well in that region is a billion tons. So you have copper deposits that are at the very, very highest end of the spectrum.
The grade is there, the geological makings are there and then you have four or five of the biggest mines in Africa surrounding you, certainly Kansanshi being the top African copper mine and you then can think about runway to development. You're not looking at something that's going to need 10 years to move towards production, and we have to arm wave that we're going to build a mine.
Midnight Sun will never build a mine. That's not our goal. That's not our plan, but you have all these mines in the region that could certainly take advantage of that and if somebody finds something big enough on our property, or if we find something big enough on our property that we actually think it warrants a standalone mine, that's something to be figured out at that point but we don't need to aim for that. So it's really the right thing to be looking for in the copper space.
TMO | I imagine the company has some major plans going into this year. What are some of the things that you're most looking forward to?
TMO | Do you think this is one of the best times investors can get in on Midnight Sun? And if so, why?
O'Brien | Well, I think it's the best time to be investing in copper in general. Certainly we're going to be obviously very biased and say it's the best time to invest in Midnight Sun.
If you're looking for something in the copper space, first of all, copper, there's a new demand for copper that we've never seen before, That's right on the horizon, right? So you're probably, let's say 18 months out from seeing a new phase in copper that's going to be driven by electrification. That's going to give us a couple of decades probably of runway where you're going to see demand for copper like we've never seen before.
Never in my lifetime, never in your lifetime. Huge demand for copper and what you really have to look at is not just a demand for copper based on electrification. That is certainly the driver, but you have to look at copper projects globally.
So you have a lack of new projects coming on stream. You have a lack of discoveries being made and the discoveries that are being made are typically porphyry deposits. They're typically now, I like to say the low-hanging fruits been picked. So the easy ones to find have been found.
Now we're into these projects that are really deep, they're really expensive, and we're talking CapEx (capital expenditures) that's beyond what any junior could probably ever tackle. So huge CapEx, tough jurisdictions, they're very deep and you have to look for projects that are quicker to get into the pipeline of development, that are going to be able to reach production stage more quickly and that are probably lower CapEx, so meaning open pit, and then you have to think about jurisdiction. If you look at Midnight Sun, you have jurisdiction
It was a rainy season in Zambia, and that makes it very difficult to move rigs across the ground. It's not that there's a lot of rain days today, but they're in the process now. We're waiting for the ground to dry out. We're waiting for rainy season to end and be gone, get back to the beautiful 75-degree weather in Zambia and get the drilling underway.
TMO | Briefly we talked about the new science that is going into developing these targets. Can you recap the significance of this?
O'Brien | I think if you look at the approach that KoBold is taking, so in particular they're working on a project. If you look at our entire project, just to slightly digress here, we have four big individual targets.
So the property is essentially split up into four pieces. Each of those targets has the potential to be one of these billion-ton domes region deposits but basically they're focused on something called Dumbwa, and the deal that we struck with them is just for Dumbwa.
The rest of the property remains with Midnight Sun, and we're going to advance that on our own. But Dumbwa itself is a 20-kilometre-long soil anomaly, which that fact in itself is exciting, but it gets up to 0.73 per cent copper in soil. So the entire property is covered in a blanket of soil, if you will, and to find trace copper is usually a good pathfinder to something bigger going on.
In this case, the average grade of each mine across the domes region is 0.59 per cent copper spread across all of them. We have ore grade 0.73 per cent copper in soil across this anomaly, which is pretty spectacular. So KoBold is basically utilizing that. That's their pathfinder. They know this is the target they want to attack, and so they have a big drill plan for that.
While we are waiting for the meeting interesting interview from midnightsun on Copper
TMO | The last time we spoke, Adrian, we talked about the massive property Midnight Sun has in the heart of Zambia. For those who missed our last discussion, who is situated near you and what target of yours is of particular interest at the moment?
O'Brien: The property is really uniquely located in that in Zambia there's kind of a traditional Copper belt known as the Zambia Congo Copper Belt. It runs from the DRC (Democratic Republic of the Congo) down through Zambia, but then there's another area called the Domes Region and that's where we're situated. So that runs east to west, and it's basically a belt that hosts billion-ton copper deposits. So there's four or five big, well-known mines in the area.
When you talk about who surrounds us, right next door to us, and I mean six kilometres away is Kansanshi, which is First Quantum's flagship. You have First Quantum Sentinel Mine, further to the west, Barrick's Lumwana Mine, which is like ground zero for Barrick's move to becoming a major copper producer, and then above us you have Ivanhoe's Kamoa-Kakula and one called Tenke that's owned by China Molybdenum. They bought that a few years ago for $4 billion.
TMO | You are partnering with KoBold Metals, $15 million over four years. Has there been any recent developments around this, and what will be the first steps in terms of work on site?
O'Brien | So KoBold of course, is kind of a newer player, right? They're an AI mining company that's come in the last couple of years, really, really bleeding edge, exciting. They're using new technology, novel technology, AI combined with traditional geoscience in order to expedite the development of assets. And so they've taken on projects all over the world, but this is kind of their flagship copper exploration property.
But they've built the absolute best geological team and so we're a few weeks into the deal being announced. We've started now to dig into what does the actual geological approach look like, and it's being led by David Broughton. And if you don't know David Broughton, David's probably the top set copper expert in the world. And he's leading this program. He's built an absolute top-notch team of the best geologists out there, and so David's leading the way.
They've just sort of shown us what their plan is. It's aggressive. They're getting ready to drill. They have two drill rigs ready to go. Their plan is to basically attack this thing. It's drill ready. So we don't need to do a lot of preliminary work, and they have a really aggressive drill approach. So we're getting close.
PFP I actually am more excited about our assets in Botswana than zambia at the moment for the reason that Anglo will dictate news flow for Zambia and they are not a junior explorer, they don't need to ramp it, at least with Botswana news flow can be released as they go, survey news due in a week there. I do wonder if the Chinese would be interested in a Jv if they find anything meaningful.
The team are now prioritising the completion of the first White-Label transaction, the implementation of the security token and the IM securitisation programmes. Alongside this, we are focused on ensuring our corporate funding is sufficient to implement these priorities as the Group moves towards the breakeven. Looking further ahead, we hope to be able to generate sufficient returns for our loyal shareholders which includes both institutional and retail investors."
While I think they are progressing and its good news the banks are taking an interest now, his focus has to be on funding.
WHI View: Arc is back in the swing of its exploration, and we expect plenty of
news flow throughout the year. Arc is fast-tracking the Botswanan exploration as
the surrounding licences (owned by the Chinese MMG Group after a take-over of
the private company Khoemacau for $1.9bn in November 2023) have been drilled
on either side of Arc’s licence and have been shown to contain high grades of
copper and silver – e.g. 4-5m of copper grading up to 3.2% copper. There is every
expectation that these zones of copper mineralisation trend into Arc’s licence and
the work programme proposed will very quickly confirm or deny this theory in
our view. In Zambia, progress is out of Arc’s hands as Anglo American take over
as operator in the JV, but we expect them to spend quickly and wisely as they
return to some of their favourite ground in Central Africa – ground they used to
hold and anomalies they prioritised. We continue to see fair value in Arc at 5.8p,
but note that any discovery in Botswana or Zambia should have a meaningful
impact upwards on the market perception of Arc
Arc Minerals (LSE: ARCM), an exploration company forging partnerships to discover and develop Tier 1 copper deposits, is pleased to provide an update on activities at its Joint Venture project in Zambia and at its Virgo Project within the highly prospective Central Structural Corridor of the Kalahari Copper Belt ('KCB') in the Republic of Botswana.
Highlights
Zambia:
· Following the end of the rainy season, the Arc Minerals Joint Venture partner has commenced work at site
· Work programme to include core diamond drilling, initially at two identified targets
Botswana:
· Ground IP Survey over copper targets in PL 135/2017 anticipated to be completed by next week
· First phase of 2,000m Reverse Circulation Drill Programme to commence this quarter
· Prospecting License Renewals submitted
Nick von Schirnding, Executive Chairman of Arc Minerals, commented:
"We are thrilled to be commencing drilling activities imminently in both Zambia and Botswana, following a lengthy rainy season in North West Zambia.
Extensive studies have been carried out on the stratigraphic hole which was completed by our joint venture partner in December 2023, providing valuable insights and geological data of the deeper part of the Kabompo basin.
We are also very excited to move onto the next stage by ramping up activities on our licences in Botswana with drilling to commence this quarter."
SeisNav talking of our ex ned interesting post from Advfn.
atboy1nc1 May '24 - 07:44 - 8910 of 8917
0 20 0
Mushinge,
You are sadly your own worst enemy!
This will be the Options in question:
hxxps://www.arcminerals.com/news/rns/rns-details/2022/Arc-Minerals-Limited---Grant-of-Options/default.aspx
"Further to the Settlement Agreement as first announced on 18 February 2022, the Company announces the grant of options to the claimant parties over 3,000,000 new ordinary shares of no par value ("Ordinary Shares") of the Company ("Share Options") with an exercise price of 5 pence per Ordinary Share. The Share Options are exercisable immediately and will expire on 31 March 2024."
Options clearly indicates an expiry.
Your financial acumen optics are of your own making - personally classifying you as extremely poor.
You also sold Arc shares to Stone Creek Global Ltd. Not fully understanding the exotic derivative on exchange.
Proverb of the boy who cried wolf.
Https://www.mining.com/anglo-american-copper-assets-worth-35-billion-report/ Zambia could add a lot of growth to Anglo's share price.
It will obvioulsy take about 6 months before we really get any indication if they have hit the mother load or not in Zambia but I wonder if the news licences will have any Cobalt in them, looking forward to finding out where they are.
https://www.mining.com/web/britain-agrees-on-deals-for-clean-energy-critical-minerals-with-zambia/
Interesting read especially about capital being available for good projects. The Anglo deal being one of the best in a long time.
https://www.mining.com/gates-bezos-backed-kobold-says-zambia-copper-find-largest-in-a-century/
Zen there is a lot to read in the rns its the longest one I have seen yet we need the deal signed and binding to get revs in to give them some cash. At Dec they had 5k's worth of cash. They have made the effort to cut wages and admin costs which defo needed to be done. But right now they need a few more million to keep going. So the question is where are the funds coming from a raise or a deal.
Https://www.mining-technology.com/news/kobold-intends-to-expedite/
Will be interesting to find out what licences Arcm are looking at.
Wonder how many rigs Anglo will have when they get going in Zambia.
https://x.com/Tertiaryplc/status/1783104147438379266