Member Info for Jonah58

Hi HTC. One point you didn't mention in your somewhat downbeat analysis of the Inyoni expansion project is the flexibility it gives us with regard to composition of the feed. This improves not only the resilience of the operation but also its longevity. This will add value in the long term which is not easy to quantify using the sort of fag packet calculations so beloved of retail investors posting on bulletin boards.

OMG Kaiser! Do I remember Smokey Hills! It would be truly ironical if we ended up there but you have a point. We have already done the due diligence after all. There was a thread about a year ago where we speculated where the Eastern limb ore was coming from. Maybe worth checking if that is 40km from Smokey.
Not so sure about smelting - uses a lot of electricity. Sable can produce sulphuric acid and presumable the northern processor too. Transport costs from the Eastern limb to Zambia would surely be prohibitive?

Add my thanks, Sharehunter. Great post. Answers a lot of my questions. I will be adding on any dips.

You are absolutely right, Tricky, about Roan Antelope and Luanshya. My understanding is, however, that Roan also applies to a copper rich geological seam in Zambia and it is this which gives its name to the Roan project. Having said that, the two are pretty close to each other!

Like everyone else here, I pricked up my ears with the several mentions of cobalt, but I wonder where it is going to come from. I was under the impression that most of the cobalt was in the northern operation dumps, though, frankly, Roan is pretty northern too. Sable already had a cobalt circuit, I believe, to process the material Glencore was shipping in from DRC.

The other point, also noted by others, is the insinuation that a new plant in the eastern limb is all but a done deal. I don't think the current feed from the east will be enough to justify a dedicated plant in the long run. So Leon must have his eye on further material and I suspect it is something specific that is already under negotiation.

Any views?

Good positive RNS. I suppose the putative‘equity raise’ might be to purchase the mothballed facility.

Monday

Spot on Kaiser. BMR rises from the ashes. The company did not become defunct, just delisted. I guess we still have the option to buy out the royalty but would we want to. There are no immediate plans to monetise Kabwe and we would earn 29% of the royalty anyway due to our holding. I wonder what Colin’s plans are.

Spot on, Barnetp for a whole host of reasons, which begs the question 'what is responsible for the rally?' There was no immediate response to the results published on 19th April, so we can discount that. If a greater than 100% surge in share price had been due to a spurious article, I think the company would have issued a speeding ticket. The fact that they have not done so implies that they know of a good reason for this rally.
Since April 19th, the RNSs have concerned shifts of holdings between major players, the admission of previous non-voting shares to be voting shares and the premature departure of the CEO. Therein must lie the clue to what is gpoing on, but my naive lack of understanding of company shenanigans leaves me high and dry. Can anyone with better market insight here read the tea leaves? What to you think, Dactions, I respect your views and you have been here longer than most?

Thank you for explaining that Dactions. I was struggling to understand what was going on.

Have to say I am with Charles on this one. As far as I know, there is only one active but depleted copper mine on the island. It has a leach pad and electrowinning refinery but I believe the owners are going to relocate this as part of their new Apliki joint venture with Venus minerals: https://www.venusminerals.co/media/attachments/2022/04/11/press-release-venus-minerals-and-hellenic-copper-mines-finalise-jv.pdf

So one outfit, at least, believe they can operate profitably in Cyprus provided the price of copper holds up. I accept Kaiser's point that the Cu grades are juicy but what I don't know (or even understand) is how long any new operation by Bezant is going to last before the resource is depleted. I cannot see a concentrator and refinery built from scratch being of interest to us shareholders unless there is a good 10 years + worth of material.

My guess is that we would not be having this thread were it not for CB's interest in Bezant.

Anyway, we should get a clearer idea of what is going on after the meeting in May. Maybe our trials on leaching sulphides in Zambia will be relevant. Maybe Chesterfield will be interested. Who knows!

The reason I think you are wrong, Bendog, is the huge volume. Most traders are happy with 10% and delirious with more. They could have got that easily by now, but they are still buying. This seems like a genuine re-rate to me

Remarkable volume in this share today, with shares changing hands around 6.1p which confirms my recent post that the current rise is no P&D but a genuine and long overdue realignment. Not sure about traders, BC. This would be a dodgy share to day trade with a spread of nearly 5%, but no doubt there will be chancers looking for a quick buck. We all have our theoretical exit points.
Meanwhile, the only red flags I can see are at the ends of long logs being carried by lorries in Gabon.

Yes Moz. Definitely not a P&D (famous last words!). Which begs the question of whether anything else is informing the marked increased volume of share deals (over 110 today already). For instance, nobody has picked up on 'railroad's' good post drawing attention to the sale of 350,000,000 shares from Rhino to a third party (who?) and the conversion of some of these shares to voting right shares. Any ideas?

Yes, BC, a bogus article. But, as Dactions points out, it did draw attention to our little company which he/she rightly referred to as a gem.
Another interesting point. We dropped only 6.7% today having gained nearly 40% yesterday. This is NOT the typical pattern of a P&D. The Sp is re-rating and awareness of our potential is increasing.

Two things, Rick. First, my understanding is that there are still certain regulatory approvals which need to be in place before we can move into this business. Second, we need to have access to land to plant the trees. I am aware that a certaine acreage has been identified, but I am not aware of any RNS stating that this has been bought, or a concession agreed.
I get the impression that some posters think we can leverage our existing forest for carbon credits, but I can't see how that would work. Our business model does not involve planting new trees. We just take a few from each hectare and allow the forest to regenerate naturally. The purchaser of a carbon credit needs to see carbon sequestered that would not have been removed from the atmosphere if they had not paid = new trees on previously unforested ground.

Still a bit of duck positioning to go, so we are in no position to announce a big carbon offset deal just now - but yes, the ducks are getting more organised by the minute. One step at a time.

ike most posters here, I give te article zero credibility. The retrace today was predictable as chancers bank their gains. But some of those that bought yesterday may have been more canny investors. They might even have read our recent sustainability document. (https://www.woodbois.com/report/) and recent RNSs
From these they will have learned that this is a well managed, ethical and growing company. That currently our growth in income is limited only by shipping restraints. That within the calendar year 2022 we should obtain Forest Stewardship certification opening the doors to a raft of new clients. That within this quarter we will be commissioning a new veneer plant which doubles the output of the most lucrative part of our business. That we are on a path to divesification and huge growth. That our carbon credit business is moving forward apace.

I hope these investors will eschew the cheap quick buck and hold on for a long term gain - not 20000%, but something really valuable at a time when investing wisely presents a huge challenge.

Barnet, that acreage includes our holding in Mozambique which is currently a bit dodgy. We can’t sell carbon credits on the acreage we harvest as it’s already there. We will need to buy or arrange a concession on unforested or degraded land and then develop the credits by planting trees. It takes several years before a new tree starts sequestration a significant amount of carbon. It will happen but not in a rush!

I am quite heavily invested here and am optimistic about our well run company, but the article is quite frankly wildly optimistic. Today's readjustment, however, is no more than bringing the SP in line with the placing price and, on current form, it certainly deserves to be there (or higher) irrespective of any journalistic exuberance.