The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Saleable copper ore? I mean… there are exploration companies with nothing to show for themselves but an exploration licence, in not-very-sturdy political environments, valued over double what this is currently at.
Hi Carling, yes I have read the details of the court-ruled legal injunction on Zamsort, specifically for the Kalaba mine and licences held with it. I have a link which breaks down the $5.8m apparently owed to the former owners of Zamsort and why...
https://www.themastonline.com/2021/03/09/terra-metals-shareholders-sue-zamsort-over-5-8m-in-sold-shares/
And a link to a source stating an injunction is in place
https://afaa.ngo/page-18371
Can’t figure out whether or not they have a leg to stand on as I am not a lawyer and don’t have enough knowledge on the history of this transaction. However, “ZAMBIA Mineral Exchange Corporation Limited (ZAMEX) has obtained an order of injunction at the Lusaka High Court, restraining Zamsort Limited from the use, possession and management of the plant, equipment and mining licenses for Kalaba Mine in North Western Province”. The extent to which this affects our mining licences is unclear to me.
- Awaiting $5m from sale of CASA (due 19th March 2021) (RNS 18 March 2020)
- £2m raised by placing from institutional investor mid January 2021
- $7m consideration from Sturec sale if JORC proven to exceed 1.5m of gold at greater grade than 2.5G/t (RNS 11 August 2020)
- Proof of Concept study suggests $15m-$20m free cash flow from Zamsort at conservative copper prices of $6500/t (currently at $9000) commencement of which can be achieved within 12 months time as of last December (RNS 15 Dec 2020)
ARCM are in prime position to go alone. Fortunately however they’re in an exclusivity agreement with Anglo American (RNS 14 July 2020), who have spent 6 months doing technical analysis, proceeded through due diligence and have announced formally that they are now in a negotiation stage (RNS 13 January 2021) with ARCM for their copper licence. NVS (our leader) used to work for AA and has a good relationship with them, he has also hired Rothschild Co to assist with negotiations and has recently surrendered warrants for around 70m shares in ARCM! With 14 targets within our licence area, multiple tier 1 asset possibilities, ARCM are in a fantastic position to sell, JV, or go alone to prove up these huge assets.
Please feel free to add to this with any of your fag-packet resource estimates and repost. CASA payment is due any time now, leaving us in a great position.
Who does not understand the RNS. ARCM introduced 50m’ish warrants in September 2020, exercisable at different prices. ARCM committed to giving 6-monthly updates on them. There are now currently only 27m left unused thus far.
Well there’s that.. but PREM also only has some £50k in the bank and no revenue stream. RHA is dead in the water currently. We NEED a JV if we are to do anything with this EPO, and given GR’s track record of placings and raises I am a little concerned about when that Well might dry up! Also it seems GR still doesn’t have that confirmation on his desk otherwise we’d have the details by now? And it is Zimbabwe after all... Just saying, new investors be careful, a lot of us have been stung by this share.
I do however want to see the share price continuing to rise ??.
For the record, I’m still invested. Just voicing concern.