Member Info for Kullybahia

That's February call, on a separate note I predicted only 10 days ago that copper would be $4.7lb by end of May. Apologies to everyone, its already that price with 3 weeks to go. Next time I won't be so Conservative.

The change of drilling target from Muswema to Fwiji and no changes to Zaco license, compared to Zamsort, makes me question? Wether AA want to buy only Fwiji. After all its their top target on the licenses. Maybe AA don't have the stomach to buyout all the licenses? They just want Fwiji, as can clearly get into production without any other partner? With other majors offering deals, Nick may decide to sell certain deposits off separately. Thus we would be able to fully fund and drill remaining deposits, and sell to the highest bidder? Speculation but would love a sale of Fwiji to AA. ATB everyone, Nice weather for the weekend hopefully, pubs are fully open for the public.

Fwiji may hold 25m tonnes of copper, according to David Wood? That's $250b of copper sitting there, so production of 250k tonnes per year for 100 years. Maybe AA are only interested in Fwiji, this way they get the CREAM, and we get the money to drill out all remaining deposits? Possible scenario playing out. Certainly we were going to drill deeper at Muswema and Cheyeza in February call? I was even questioned why were not drilling at Fwiji by Longfell…

Morning Fulmar, haven't listened to the investors call. Will wait for it to be available via Arcm twitter account. Heard was well received by shareholders.

Going back to the previous investors call, I'm sure Nick said we would be drilling deeper at Muswema and Cheyeza? Haven't listened to the current investor call yet, but Fwiji is being targeted for drilling by those who listened in? 500m depths, strange that were now changing drill targets? Could AA be wanting confirmation of Fwiji, before a commercial transaction? And is it feasible that AA only want to cherry pick this target? If so, we would have money to prove up the rest of the licenses, and production to come.

AA clearly don't have the stomach to a overall buyout of the licenses. Scared of getting burnt? Most on here are in the camp of JV, and prove the Tier1 deposits. AA previous acquisitions have been on JV terms and bringing in a partner. Nick has turned down one major, so he must be wanting XYZ amount of money. Juniors need to make sure that they don't sell to Majors on poor terms.

Cattleman you got your rns, a bit earlier than forecast. Good to get Casa deal done on better terms than originally contract.

I remember a while ago working with some colleagues from Africa. There was always football stories we talked about, it was the main topic. I asked about someone who hadn't been at work for some time? A friend said that they were in Africa due to their father's death. Anyway they said that everyone makes a claim for the inheritance. It's how they do things over there, sons, daughters, nephews, neices, cousins, brothers, sisters, you name it. I laughed when I was told that they don't do wills. So what do the old people do, they spend all the money before they die! Leaving f**k all for anyone. Same thing playing out here, with claims for Arcm's licenses. Weather isn't good, bank holidays, Bah Bah.

If we've some of the missing copper from the Sentinel Mine, then that's a good thing. How much no one really knows, not even David Wood? If we were to totally drill out Fwiji, Cheyeza and Muswema and Lumbeta, then we'd have a better idea of how much. Numerous drill rigs over 4-5 years would be needed, and about $200m expenditure. Only a Major can finance that type of expenditure, AAL have some big decisions to make as July 7th is end of EA!

I watched the video on David Wood about a year ago. Convinced me that Arcm's licenses are where the missing copper from the Sentinel Mine is. If not all, then some of it, Fwiji is where David is reflecting on. Won't speculate specifically, but 40km squared is a massive area to drill. Would take a few years with multiple rigs drilling. That's what AA are trying to figure out, before putting ink to a deal. Cheyeza is 80km square, so twice the area. Muswema looks pretty big as well, so no way can a few drill holes determine what is under the deposit. AA have to figure out if there are Tier1 deposits or not? Not an easy decision with Fwiji and Muswema not being properly drilled out. Cheyeza on the other hand has hit mineralisation in every hole drilled. ATB. Bank Holiday weekend so let's enjoy the weather, starting to get warm Fulmar!

Meant Westerly into Lumbeta not easterly, my bad apologies.

Muswema is adjacent to Lumbeta, practically twins in deposits. If there is mineralisation found at Muswema? It might continue easterly into Lumbeta? That would create a convincing argument for AA to make a commercial transaction of some kind? Remember at depths, suggest that AA are wanting a bit more meat on the bones, before making a move?

Compared to some CEO's on AIM, Nick has come across very well. Recent placing was out of the blue, however another asset has been bought. Post commercial transaction of Zambia licenses, we head into the Kalahari Copper belt. If Nick has misled investors, Institutional investors aren't worried? When they sell off, then I'll be selling. Otherwise just hold for a few months more.

Currently the world uses 25m tonnes of copper per year. That's going to increase to 30m tonnes by 2040. You might say so what? They'll increase capacity to keep up with demand! Wrong, since 2015,there's been one major development thats gone into production. Investment into green projects around the world will need to be diverted into more mines. A mid cap copper company averages 25k tonnes nameplate per year. That's a lot of ore to process even at 1% grades. 25k = 2.5m tonnes of earth to process, very labour intensive, even with plant machinery running 7 days a week. Where's the copper going to come from? Juniors with probable Tier1's on licences. Even then we'll still not be able to keep up with demand. Investment is very cyclical in the Mining sector, when supply is abundant, Miners stop or ease production. The sector will need 100's of $Billion to meet future demand. Any junior with probable Tier1's will be sought after for sure. I know one that fits the requirements of any major miner. Research and patience will be rewarded for long term holders. GLA.

If I had to pick which metal to be invested in for the next year? It would have to be Copper, based on pure demand and supply deficit? Don't get me wrong, Gold is a good play, but I like the Copper chart. Its not even started IMHO, $5lb by October me thinks. Let's see if it does play out? ATB everyone, including newbies.

Also $4.7-8lb by end of May, is realistic as Chile mining unions threaten Gov over early pension release. 28% of World copper production is from Chile.

Now $4.39lb, end of May and its going to be a lot higher. Already hit this years high, $4.7-8, lb is my target for end of May.

Scania trucks ordered are irrelevant as they are leased, always keeping new trucks is standard practice. Always posting drivers jobs is because they are poorly paid, nothing new there it's ongoing. Ebitda is a accounting practice used by many companies to disguise profits or lack of? Why not state true profits or losses, no too much to ask? Guess the debt is down, that's one good thing from the YE accounts, but nothing to get excited about. They have a lot to do before becoming cash positive and no debts. But do carry on if you think they are going to be a good investment in the next few years. Remember ebitda isn't net profit, and they have massaged previous years accounts before.

Wait a minute, they've lost the low margin parts of the TESCO contract! Thats all low margin with TESCO, regardless of how much of the contract they have. They don't have high margins in the logistics sector as a whole. It's just image to see lots of trucks on the road. Anybody that has worked for them (I have with ESL and Logistics people, the same as a driver). Everything they do is by undercutting rivals, its in their DNA. Thats why they are where they are, always looking at turnover and not profits. Volume driven business with no real assets. Trucks leased, trailers leased,depots leased. IForce is Fulfillment centres and they have a few around the country. People talk on bb's without proper knowledge of the business model. Buy anyway next rns should be incoming, lost contract needs to be announced, as price sensitive information.

Fulmar think Africa is starting to change regarding foreign investment. Tanzania has a woman leader, and she is known for her diplomacy. The previous leader was knick named The Bulldozer, he didn't like foreign affairs at all. Tanzania is $50bn economy and growing at 8-10% per year. HE1 is drilling next couple of months time, awaiting seismic data. Also ACP are awaiting for the final mining licence and finance. So thing are happening, wether Zambia is also moving in the same direction is something I don't really know?