Member Info for Jonah58

A lot of shares changed hands today. Difficult to believe we ticked up if all the trades reported as sells really were sells. I’m happy that people are trading at 17.3 though. This is the price I paid more than a decade ago!

Good point RayP. InCaerus's recent investors presentation one target is the Kalavasos dumps:- "Low-Grade Cu (Au) DumpsTarget ->5Mt @ 0.5% Cu. Heap leach option".
0.5% is better than some run of mine ore.

Some good posts today from Nelson, NS and others - thank you. I'm amazed how quickly posters set to work digging out valuable information, and thanks to the CMRS posters too.

Of course, this is only and exclusivity arrangement (ask the good folk on ARCM about those) but is clearly a declaration of intent, and as has been pointed out, LC is on record as saying he is going to be very picky. He eventually turned down the Australian copper deal, but I don't think that was a JV model and this is - in line with what we are doing in Zambia.

With regard to timeline, I think some of the Kalavasa dumps have been evaluated, but not the others. The arrangement is for 6 months so they obviously need to get their skates on. I presume JLP will foot the bill for this evaluation, even if nothing comes of it (is that right?).

There appears to be no processing facilities on the Caerus tenancies. I suppose the construction of heap leach pads would not be too costly, but what about further refining?

It's great that we are seen as the 'go to' partner for this kind of venture and it will be fascinating to see how this all pans out.

Sorry, link does not appear to work but it is there. XTR RNS 7 Oct 2020, should you be interested.

This sort of thing seems quite common in Zambia! There was similar speculation and dubious press articles about another of my copper plays (JLP) and also with XTR (https://www.lse.co.uk/rns/XTR/comment-regarding-zambia-media-reports-ydfyagthppx9udd.html). Best thing is to follow the Ministry of mines/Cadastre and ignore the noise IMHO.

I think our current preferred method of mobilising tailings is hydro-excavation ( no digging). But Shorn’s point is worth repeating. There IS a difference between digging and blasting holes in virgin rock and helping yourself to piles of stuff on the surface. The former exposes the miner to high risks and rewards which are not attractive to value investors. Anglo was trading at a P/E of 8 last time I looked. So if we are predicting our sp trajectory the difference becomes more than semantic.
Of course you are most welcome here Shutts and I am confident your investment will do extremely well.

You are correct. A 0.1p per share dividend would cost us £ 2, 242 370 .

Spot on, Nelson. Kabwe is a top priority and am looking forward to hearing news on this in H2. It will accomplish something truly worthwhile in the region whilst simultaneously doing wonders for our ESG credibility.

With regard to cobalt in the third party deal, we simply don't know. I am assuming we are buying the re and selling the copper, rather than toll processing. It's a long term deal so will impact (slightly) on the amount of our own material we can process in the future.

The wording of the RNS suggests we are looking to 'gain access' to further refining capacity in ambia rather than expanding the facility at Sable. Is that how others read it?

DavidB. A lot of shares have changed hands at close to the mid-price where the designation 'sell' or 'buy' is unreliable. Due to circumstances I have reluctantly sold some of my shares today at 17.32 and it was recorded as a buy. (I'm still holding onto the majority of my shares here; just needed the cash).

I'm with you on this Shiner. 25 kt of copper will do wonders for our bottom line, but is peanuts to the big producers. I recall LC at one point mentioning we would be one of the top ten copper producers, but maybe that was a mistake. I can't imagine where it's going to come from unless he has a herd of rhinos, hippos and buffalos up his sleeve (not out of the question, I suppose,!)

Yes. I would dearly love to be reassured that Roan is on track. However, we have, in fact, ticked up today since Friday's close was 'falsely' elevated by a late uncrossing trade.

Spot on, Craig. I continue to attribute no value to Tjate in my calculations. The only ways to monetise the asset are eithe aJV or outright sale, preferably packaged up with a neighbour. As far as the latter is concerned, it would require a buyer with very deep pockets and a very long term view. I am not saying that such a buyer might not emerge, presumably from China, but there have been precious few straws in the wind. Also, I cannot see a mining operation starting from scratch that leaves an economivally significant amount of metal in the tailings.
Similarly, I think the basket price of PGMs will have to increase quite a bit more before a JV becomes even remotely feasible. I hope I'm wrong about Tjate, but meanwhile let's get on with what we do so well.

I am sure you’re right Sumo. Potential use of PGMs in fuel cells is huge. The hydrogen economy is lagging behind lithium cells as far as EVs are concerned, but not by much. It’s a cost issue. In the longer term it’s my belief that hydrogen will dominate in all aspects of energy production, storage and deployment. Unfortunately I may not live to see it!

Big spread yesterday and earlier today makes it difficult to work out what is going on, but on the face of it we have ticked up on the back of 3.5M sells! The last 2 million were definitely sells. Must be a buyer as well as seller in the background imho.

Good spot old cobra. Fancy doing some maths to work out if we would be due a TR1?

Have to agree with Gotreal. Why would retail investors sell on the back of a note that predicts a 30% rise in Sp within 18 months? We have an institutional investor selling in large regular chunks and for me the good news is just how resilient this share is. Just need to keep my eye on the bigger picture.
Not sure we’ll get a quarterly update but hope we do.

Hi George. Yes we are waiting for news, but certainly could not be further from 'dead in the water'. Try clicking on 'charts' and then '1 year'. Always makes me feel better!
Although Roan is not too far from Kabwe, I had not appreciated that the road can (and clearly does) sometimes become impassable in the rainy season. Should be back on track soon, though I suspect the initial copper feed will be little more than just screened, so we will need to be patient. I suspect the major ramp up will be at the back end of Q3.

Maybe he was referring to us as a minor!

Should get a TR1 if it was all the same seller

I can buy small quantities on HL for 15.5p