Member Info for Jeremiah99

The govt won't want to wait around for ever to see progress there. In my more paranoid moments I wonder if we are purposely being led to the cliff edge and into a position where, for want of funds, we have no option but to give up the majority of Zulu (possibly to one of GR's cronies) merely in exchange for enough funding to drill it and prove it all up.

https://youtu.be/pq3qugKs1k4
From the fozzer on ii

Take us to the moon with you Ann...:-)

You have a wild and fertile imagination, CB. I think you'll even find many an atheist calling upon God at times of dire need, as we appear to be finding ourselves in at the moment.

Yes a couple of 1%+ cu eq drills at 100m+ thicknesses and the SOLG s/p will collapse as they'll all be piling in here! :-p

Please God, let them find several million tonnes of cu eq and enough funds for the drilling without having to give away an arm and a leg to the majors.

I remember stupidly predicting up to 20p s/p on the back of 2% cu eq going through the demo plant at 15tph, later to be bumped up to 90 tph. The Casa mine was turning up the odd 100gms/tonne drill samples so that was supposed to easily attract a buyer. Sturec has had $20m spent on it so surely we could recoup most of that. But no, nothing has turned out remotely as expected so far (rather like all my other AIM investments) All I can say is something has to deliver as promised sooner or later, or am I really the world's worst investor?

Hopefully you are correct and there are large areas of deep rich copper veins. I expect grades and thicknesses will vary tremendously over such a large area. I'm not sure we will see much at 1% cu eq though, particularly as the cobalt price has dropped significantly this year. Anyway, majors will be happy enough with 0.5% if the quantities are there.

Not by me, they're not. Happy to be proven wrong but after the Kalaba damp squib I'm personally not taking anything for granted.

Yes, talk of dividends is utterly fanciful when the life of the company has hung in the balance for months on end and the heart rate monitor has seemingly flatlined a few times recently. Let's get out of ICU and onto the recovery ward before we can even start to dream of a golden future.

Yes, I doubt he would fly economy - he'd get stuck in the seat unable to deplane, and get carted back off to Joburg. :-)

is still in her dressing room with her feet up and a sherry or three, watching re-runs of Dallas/Perry Mason/Game of Thrones/Suits. Says she don't know nuffink about no 'Game Over' and shut the blinkin door on yer way out, it's effin' draughty in 'ere!

I found it sobering that NvS said majors may only be willing to inject $5-$10m for a 90% cut (c. 31mins onwards) basically leaving us with almost nothing. It highlights the importance of the sale of a non core asset, or the early Cheyeza drill results being positive enough to shift the s/p up into a zone where dilution for further drilling will be less painful. Better for us holders to dilute by 20%-30% and fund our own drilling than give away 90%, particularly if one is able to buy more to offset the dilution.

Speculation didn't serve us well as we embarked on the Kalaba drill programme. Who was the muppet that said we must surely have scoped out 300kts of contained copper just a few months into the drilling, based on nothing at all?

The fact remains that had we sold assets for a lump sum or had the demo plant turned enough profit to fund some of the drilling as originally intended, then we could have better protected shareholder value and kept more of the pie for ourselves. Still, we are where we are and if we can't do a 20 bagger, a 10 bagger will just have to suffice!

Ay, you'd be first to that thruppenny bit in middle't motorway! :-p

I guess majors buying in to Arcm means via more share issuance/dilution? We really just need enough for the first drilling run, and if those results are good the s/p should jump, meaning less further dilution as it will be done at a higher price.

For a long time we were chasing what we thought was a £20 note being blown along the road. Turns out it was only a £5. Now a £50 note has appeared so we've changed tack to chase that instead - and have attracted a horde of helpers expecting a cut. ;-)

So, in the absence of any non core divestment or income from the demo plant, it is looking likely we will have to dilute or give up more of the pie than we had originally hoped. I can see why others have been vociferous about NvS's shortcomings lately. Hopefully the pie will be giant sized and plenty big enough to share if we need to.

You guys are all heart. Casa just happens to be our most liquid disposable asset the sale of which would negate the need for dilution or JVs at unfavourable terms, but it won't fetch a great price if the area it's situated in is riddled with a flesh eating viral outbreak, and aid workers are being attacked by suspicious locals and militia groups. Of course, Johnny come lately traders won't want these inconvenient truths highlighted..

The number of Ebola cases steadily growing in the DRC is likely to squeeze any offers for Casa to the bare minimum. I'm more concerned about the victims right now though, to be honest.