Member Info for Jeremiah99

That's the figure that popped into my head after it hit .18p I don't know if it's the 61% fib retracement target or whatever but if the Zim govt dawdles I can only see the s/p drifting further from here.

If we don't ever discover a big saleable deposit I think these shallow high grade resources may be our get out of jail card allowing us the potential to go it alone. Sooner or later we will divest a gold mine or two and have the funds for a bigger plant if that's to be the future chosen route. Of course a juicy tier 1 discovery and a quick sale for a big bucks would be preferable, but the alternatives wouldn't be too disastrous in my view.

My v. rough estimate of the contained copper in the first high grade area of CE was 50kts (which somebody else corroborated) Add the latest 30kts plus some bits and bobs and you get around 100kts. That would probably be equal in value to half our current Mcap. Our gold holdings should probably be worth more than half our Mcap, so we are starting to look a little undervalued right now.

Having said that, although that 250x250 area is too small to interest a major and would probably only sell for c. £3m as is, if we exploited it ourselves you could be looking at several years of mine life at 90tph. Depending on the economics the net profit to Arcm could be somewhere in the region of $6-8m a year. Add in a few more similar discoveries over coming months and years, and you have the makings of an organically grown small to medium miner.

IMO we are a long long way off Sentinel's size. They have 5m tonnes of contained copper, and after drilling the best bits of CE we probably have under 100kts. The 250x250 area mentioned in the broker's note probably contains c. 30kts of copper. Agreed we have better grades at shallower depths, but theres just not enough of it. Majors are looking for 100mtrs depth at 0.5% cu eq kind of ballpark. I know it's not what people want to hear but I prefer to be realistic.

Maximum interval was 20 mtrs in just one drill, so the resource is a bit sporadic so far. I would guess somewhere in the tens of thousands of tonnes of contained copper? Probably not enough to interest a major just yet, even with them lately saying they need to target smaller deposits as the big ones have mostly been discovered already. CE should be big enough for us to go it alone if we ship ore to the Kalaba plant, and remember there was once talk of upgrading it to 90 tph. Perhaps the timing of the concentrate sales RNS was to steer our thinking in that direction? I'm still hopeful that we come across a big enough resource elsewhere that will make a major sit up and take notice, but one day running up to 90 tph of 1% ore should still generate Mcap boosting revenues, IMO.

Put me down for 1.63p as long as the prize isn't an evening out with Heid!

It would be good to finally shake the Bozmonkey off our back and hold shares in a proper company, albeit the one that wangled Kabwe out of our hands for next to nowt in the first place.

Come to think of it, didn't they only have 10,000 tonnes stockpiled for the plant anyway? So I suppose they are eking that out and using it as proof of concept rather than for serious revenue generation.

Well every little helps but I'm not too impressed with the output so far after so many months of processing. It was supposed to process 10,000 tonnes a month, at 1% that's equal to about 100 tonnes of pure copper, or much more if concentrate. Lets hope it's just teething troubles and things pick up a bit.

Sooner or later the science is going to catch up and a process will be developed which will penetrate the rocks and release the hydrocarbons without chemical fracking. Whether that is fishbone tech or some kind of futuristic nano robotics or whatever, who knows? By then the debate may be more about burning fossil fuels per se, rather than whether they can be extracted in an environmentally friendly manner.

Perhaps, though HH seems to flow nicely, there may be billions of barrels locked up elsewhere in the Kimmeridge Weald-wide which may only ever be recoverable by fracking? If fracking was ever declared environmentally non-damaging Ukog's Mcap would probably rise substantially.

Phone in fracking debate on LBC radio right now.

I don't suppose old Donny boy is rooting for us and advising us? ;-)

If the US govt had our backs they could simply have leaned on the GG to come to an amicable agreement over the arbitration. To leave it to an independent international arbitration body (assuming they aren't corrupt) is perhaps leaving things too much to chance? Unless of course we do have a very good case..

Has the weasel finally ground us down into abject apathy? JLP seem to be doing well lately, any royalty crumbs for us on the horizon?

I can only see we're making slow but steady progress in the background. Good looking test results for Amitsoq and talking with possible JV partners there, when really we all thought it had been put on the back burner and forgotten about.

HH - drilling more or less done on the first horizontal. Ready to flow within days. A couple of months more testing and they should be ready to commission an independent CPR which should add value to Alba almost overnight and perhaps allow non equity based borrowing to progress our other projects.

Clogau. Not sure when the first drilling will be but could go ballistic if big grades are found.

TBS. Were hanging onto Bluejays coat-tails a bit but if Rio like what they have there's no reason to think they won't be interested in our Ilmenite too.

It's taken a while but I really think we are going to start seeing some payback from these carefully chosen projects in coming months.

I was gonna say £100m+ but I like your figure better, Baz. ;-)

Don't forget to factor in the GE result - BoJo returned to power + great horizontal flows = unbridled joy and merriment. Steptoe somehow getting his toe into the door of No. 10 + disappointing horizontal flows = abject misery, tears and snotters. The reality will lie somewhere in between.

How did you arrive at £60k? I didn't see the figure in the RNS, and it is concentrate not high grade copper. If correct, and added to the recent £80k from the warrants, that's probably another dozen or more drills paid for.