Perspective13 Aug 2025 18:12
Today's RNS on the Kalahari is significant, with no NDA restricting the details AFAIK. PL253, located between two major discoveries, one of which is supported by a joint venture with BHP, and therefore remains a key asset. There is also a Sandifre License just below the BHP JV license on which we have $80m bonus potential. The updates on PL039 and PL040 are equally noteworthy, given their proximity to recent discoveries and active mines. This concise update confirms the Kalahari Copper Belt (KCB) is progressing well, with clear potential for growth.
Some discussions today focus on the lack of news about Luansobe or Ka$hitu open pits. These assets, with approved small-scale mining licences and significant contained metal value, are ready for monetisation, as previously mentioned by Cooper Lemon on the Luansobe Open Pit, and the options for that pit mentioned by CB several times. GLR isn’t required to develop an underground mine for these open pits, which simplifies the path to value. NDAs are in place—believe it or not—but the strength of those assets is undeniable. The remainder of the license has another mining license and the deeps potential
While GLR’s PR is known to be very poor, the priority is for CEO Colin Bird to outline a clear production strategy for the open pits if that is the direction of travel. It’s likely he’s considering a sale or lease of these assets, securing a share of the substantial value through a joint venture.
You now have a choice:
1. Dwell on uncertainty, feeding negative sentiment that could harm short-term prospects.
2. Hold steady, focus on potential, and engage the Executive team directly via email—politely but persistently—to share your priorities as a shareholder.
3. Organise a group to pursue a no-confidence vote in the CEO, a straightforward process some are already exploring.
4. Sell your shares and step away.
I’m choosing option 2: focusing on the assets and engaging with the company. It's the logical choice IMO.