Member Info for Kullybahia

8000m over 18 holes in the drill campaign, up to 500m depth. So drill Fwiji first, before moving onto Muswema and Cheyeza. Those drilling holes of over 500m will take longer to drill, then sent to the lab for results. Easily after the July 7th deadline before results will be known. So leaving AA hanging out to dry, while we wait for the feedback? Clearly AA should have given Nick $3m last year when EA was signed. To drill where they feel they can find those missing sulphides, with assistance from David Wood. Sometimes I wonder wether big companies have too many bean counters, and not enough boots on the ground? Better for us, we'll be able to keep AA hanging, while others watch on, and maybe approach Rothschilds with offers? Yes Tricky great investors call, believe some on here didn't bother listening to the call. They seem to be more interested in asking questions here, than doing some research. I'm working full time, yet can still make time for research on weekends. Lazy f*****s, do some research or sell up,or work on the tan?

Longfell an offer was made for Fwiji but fell short of what Arcm were wanting. Nick clearly stated in the 2nd call that, then there was dialogue between the two parties. Now we drill Fwiji to depths of up to 500m, coincidence no! Obviously AA have said show us those sulphides and we'll pay you what your asking. My enthusiasm is realism, no offence taken. Realistically AA are absolutely desperate for Fwiji (25m tonnes of copper), source David Wood. If they can buy this one deposit, they've probably done the best deal in a long time. Any other deposits are dependent on the negotiations, between AA and Rothschilds and Arcm. I'm hoping that they just want Fwiji, freeing money we can use to develop the other 13 deposits? We're now in the final furlong of the Derby and the EA is ticking. Any drilling will be revealed post July 7th, now kicks in Voisey Bay scenario.

Good comments there F79. Think regarding to not drilling Fwiji in February call, one can assume that maybe AA were happy with the drill results. Before a bean counter decided to ask for more meat on the bones, rather than taking David Woods knowledge as gospel. Clearly things have altered slightly since February, licenses separated, drilling reorganisation, and the main point from both investors calls were the fact that Nick and Remy remained very bullish overall. No sense of hiding any unknowns or dropping something late Friday evening. Every thing looks like a deal with Fwiji, wether any other deals is pure speculation. As for me, I think Fwiji is a done deal,just ironing out the eventual payment. CE plant is definitely going to happen next year and Muswema and Lumbeta are the next deposits to be proved up? Wether AA are going to JV other deposits or take the Fwiji only option is open for discussion with Nick? With the Copper price high, can assume that Remy pushed Nick into getting CE into production. Remy is looking more like a CEO than finance director right now. CE would pave the way for any future drilling on any new deposit and in Botswana. Current Zamsort drilling could be maintained by the hefty payment from Fwiji? A Jorc of Muswema and Lumbeta in few years time, with permits in place for production and we get the multi $bn offers.

What I'd like post commerce transaction with AAL is to buyout our partners if possible. Then Jorc the remaining deposits after drilling and sell off to the highest bidder. But keep Cheyeza for ourselves as a good revenue stream. We could effectively double the current planned production, and pay regular dividends for years to come. Any further licences could be bought quickly and developed, whilst no more dilution. possibly even a share buyback.

Listened to the conference call, what struck me was the confidence in Remy. Really is smart, intelligent and knows his stuff. Can see the small scale plant producing 3Q 2022. Also the fact that he was looking to get a license in the Kalahari Copper belt for 2 years. Great vision in him, to find another possible good deposit? And for very good terms, a real asset to the bod.

New guy comes on the bb, no problem there. We've all done it, but lacks subtely. Best way to make friends is to ask nicely , as you may be surprised by the intelligent answers from some regulars. Best not to ask too many questions in a single day, especially with the hot weather we're having today. Affects peoples moods, being nice and courteous doesn't cost anything. Buying shares in Arcm does cost money. Afternoon everybody, hope you are all well and one day closer to a commercial transaction.

With 417k tonnes of measured and indicated copper, that's $4bn in todays prices. Surely a net smelter royalty to a liquid fund would be a way of raising money without dilution. Plus a buy back in 5 years time, as operations move forward? Seems plausible as mines are expensive to get into production? Let's see what the management does?

The fact that we were going to drill Muswema and Cheyeza in February call, then this investors call Fwiji is the first drill target. Plus licences separated prior to any deal, suggest that the request of AAL are being done. On top of the requirements, we're keeping Cheyeza to produce from. Fwiji is definitely the deposit AAL want the most. Suspect that they've asked for some more drilling, and to 500m depths, to keep the bean counters happy. I'd put Kamoa as similar in size and grade as Fwiji, but is a underground mine. Kamoa is a beast of a copper mine, and further drilling has confirmed more copper. Will be in production 3Q this year, Fwiji could hold up to 25m tonnes if properly drilled out? I'd prefer just a sale of Fwiji, wether to AAL, is dependent on the price Nick is asking? Sentinel Mine is 40km away and their LOM ends 2033,another potential buyer. Ivanhoe mines, part owner of Kamoa could also be a buyer. Zijin mining is the other owner of Kamoa, and they could be a buyer. Then you've got RIO coming back to Zambia, so plenty of majors willing to make offers?

Even though we've a EA with AAL, doesn't mean we have to sell cheap. Sentinel Mine was opened in 2016,at a cost of $2.1bn with copper and nickel. They've a LOM until 2033,so would need to find a similar deposit nearby to process ore. Arcm could theoretically sell Fwiji, to the highest bidder if AAL don't give us what were asking? We've many options available, and are attractive now copper is above $10k tonne. Even the smaller deposits look good, if sold to a mid cap, via drilling out and finding sufficient grades.

I get what you mean Fulmar, averaging it out over 14 deposits. No offence taken, unlike the weather. But the 3 main deposits will be Fwiji, Muswema and Cheyeza, by size and grade. The other deposits will be drilled and sold for lesser amounts, so would appeal to a mid cap. Could get a better deal selling the smaller deposits collectively to one mid cap? Then Muswema and Cheyeza to a major? All possibilities in a resurgent copper demand super cycle?

Longfell I remember you asking me about the drilling of Muswema and Cheyeza in the February investors call? I was confused why they would drill away from the top target Fwiji. Think I said that they must be satisfied with the results? 40km squared acreage is definitely a large area to drill a few holes and be satisfied? AA are wanting Fwiji desperately, they want a bit more meat on the bones. In the disguise of hitting more sulphides, before making their move. I'm in the thinking of AA will buy Fwiji and the rest of the deposits will be sold. The deposits will be drilled out by the virtue of the sale of Fwiji money, giving us more value than JV.

Sentinel mine has 5m tonnes of copper with 0.5% grades that sold for ($260m). We may have 25m tonnes of copper, so both of them are open pit. But thats the only similarities, Fwiji is a top Tier 1 deposit , that rivals Kamoa mine in the DRC. Can't wait for the drill results, hoping we hit some massive sulphides to crank up the pressure on AA to pay up before the EA ends!! If not then we will find another buyer, plenty of players waiting for the chance to make a deal with Arcm. I'm going to say that Fwiji, is going to sell for more than most of us including me are thinking?

Fulmar $100m for each deposit is dependent on drill results? Firstly a good set of drilling results from Fwiji, preferably with sulphides at depths and continuing from X metres to Y metres. And over all the holes to be drilled. Then sale to AA, with better grades than Sentinel ($260m). Nick has gotta demand more than Sentinel price, we've much better economics. Open pit mine, strip ratio, metallurgical recovery rates, LOM, more copper, less capex, has to be a price in excess of $500m.

Forgot to mention also prefer a company that owns 100% of the asset. We don't have all the preferences, but we do have a lot of copper on our licenses, and a major in EA. And other majors knocking on the door for a deal. Sulphides and as quoted by a major. 'some of the best grades to come out of Africa in a long time'. Oh and the missing Sentinel Mine copper hiding under Fwiji, estimated to be in the region of 25m tonnes, according to David Wood!

Morning Fulmar, it gets even smaller when you realise that Brian Mcmaster is involved in HMI. And Nick is involved in EDL. Much prefer a CEO who is involved in one company. They can spend all their time concentrating on getting the job done. Also prefer a company with one asset, than multiple assets over multi geography. Much prefer a company with one mineral, that is easily understood. Makes life easier when it comes to making a possible investment decision. One asset, one resource, one country and a devoted CEO, Bod, that have skin in the game. If Fwiji was our only asset, we'd have had numerous offers? And the deal would have been done, at a much higher price than Sentinel Mine ($260m) for sure.

Fulmar I didn't know much about the Sentinel Mine prior to Arcm investment. But you are correct in that after 8-10 drill holes it was sold by Colin Bird. Considering that the grade is 0.5%,and they've got to process a lot of pay dirt. That's an inferior deposit to Fwiji, by all economics used in calculation of mining. Strip Ratio, LOM, Capex, Opex, Grades, Metallurgical recovery rates etc etc. $260m v Fwiji with drill holes showing serious sulphides if we hit in next two months and possibly 25m tonnes of the red metal. Nick's gotta be asking for a lot more than what First Quantum paid for Sentinel Mine.

This mine has 3 owners, Ivanhoe mines (39.6%) Zijin mining (39.6%).DRC gov (20%).Nick mentioned he'd been approached by a large Chinese player, in the February investors call. I'm guessing that it's Zijin mining, with Kamoa mine going into production 3Q 2021. With 600k tonnes planned per year, and good grades targeted in first 5 years of 6%.

Ignore the Sentinel Mine produces 600k tonnes, I'm getting it mixed up with Kamoa mine owned by Ivanhoe mines. Sentinel has low grades of 0.5% with 300k tonnes production , thats had $2.1bn spent to get into production. Kamoa is the better grade mine, with 600k tonnes per year. My bad, what with other mines nearby and so much discussion to take in.

Late morning everyone, guess there are 3 possible outcomes here in the next two months. We get a JV. We get a buyout of all licenses. We sell a part of the license (Fwiji). Prefer the latter, we get funds to develop the remaining deposits, and AA get their prize possession. Nick can't discuss, but the separation of the license around Cheyeza so we can produce from a small scale plant. Suggest that a partial sale is incoming. If Fwiji hits great drill results, then Nick will demand top $? David Wood has suggested that it's host to the missing copper from the Sentinel Mine? 25m tonnes, and of good economic scale. Sentinel produces 600k tonnes per year, so at 500k tonnes per year, life of mine is 50 years! So thinking that way, Nick isn't going to sell cheaply. The reference to Voisey Bay, suggests he's prepared to negotiate with other suitors. First Quantum are the owners of the Sentinel Mine and 40km is easily accessible by rail built for purpose? If Sentinel were to buy Fwiji, they would produce 1.1 M tonnes per year, that's breathtaking. Considering that Sentinel has early production grades of 6-8%,Fwiji fits perfectly with their production agenda. Sentinel was sold for $260m by Colin Bird. I don't have much details of how that deal was brokered, and how much the Copper price was, or how much drilling was done? Would suit me fine if Fwiji was sold for a much larger sum than Sentinel, but we're not negotiating with AA. 2 months left on the EA, and we can only speculate. ATB everyone.

Thanks Ortus, this whole license renewal and separation makes it difficult to understand what is really going on. Really looking forward to a commercial transaction of some kind!! Come on AA give us $$$ for Fwiji.