Member Info for Kullybahia

Reighton do you have a twitter handle or you just on here?

Totally agree there Ortus. If a low ball was in the pipeline, they wouldn't have bothered drilling.

Gameangler, thanks for clearing that up. I've been under the impression that Nick and Remy want a sale. But speculation has led me to believe otherwise. Strong would like a sale, as everyone gets something. With Nick and Remy's holdings and warrants, a sale is more likely, alongside the other big holders.

Just a quick question about earn in. Surely Arcm would negotiate with AA carrying the cost of drilling and jorc and dfs for a % of future profits?

Looking like MM is the likely seller. Wether he's got some shares locked in when Arcm upper their stake in the licenses is debatable? No need to worry about the selling, as buyers are getting bargain prices, considering the EA. If Nick and Remy were selling, then that's definitely kneejerk reactions. The more the appointment of Caleb, the more likely they are negotiating a JV. A good earn in with AA for a decent % is probable outcome. We've got the quantity and quality that majors are hunting for. The right commodity which price is higher than 6 months ago. And one less NED for a much better one. No doubt that Nick is keeping things under wrap. Negotiating takes time and at least 40% earn in would suit everybody if it comes to a JV? Remember we are still getting other majors asking for a deal, so we have options. Not many juniors have multiple majors wanting a deal.

Doesn't this guy have other companies he's running? Read it somewhere? Maybe decided to move back to running his businesses, while the endgame is happening. Fits in with Caleb coming in last month, and him leaving. Remember having a Zambian on the bod is seen as good in the country for any type of deal. Obviously with little to go on, speculation mounts, and kneejerk reactions. Pretty sure the assays are being kept back while discussions regarding a sale are ongoing.

Considering the recent appointment, and the fact that he's got a jv with two of his mining companies, and is local to the country. My first impression was what the hell! But we don't know what /how negotiations with AA are progressing? Fwiji is a monster deposit just sitting there, nearby Sentinel Mine is the host. So David Wood was eager to drill it first, because he knew that was the missing copper he couldn't find, when working for FQM. When the other eight drill results are published, we'll know roughly how much of a Tier1 deposit? AA are directing the drill program, so getting them to discover deposits for us is a bonus and they are doing it for free! Muswema is next priority, but I suspect that there's significant copper in the main parts of the licenses. West Lunga disappointed so far, being in the North. Suspect they missed mineralisation, so maybe drilling will be prioritised on confirmed mineralisation. There's a lot more twist and turns to navigate, having the new man in gives us a jv route? Much prefer a buyout, but AA will determine that. Just a game of patience and see what is eventually negotiated.

Refinancing the notes means no share dilution. Current trading will be weaker due to lock down. But this is not NFS, AMGO. Dividend may be reintroduced next year, once full year results are known, and how much free cash is being generated? Personally I'd like the company to buy back some notes, to reduce interest payments and then room to pay dividends.

Hi truth, you still pi**ing off the LTH'S? Here is a story about the company that came to my attention. I recently left logistics people, found a agency job working with Hermes. Was talking to a shunter in Peterborough. He recalls the story of Eddie stobart jnr, son of Eddie stobart. Eddie married an American woman who was a Mormon.The Midlands bank had the Mormon Church as an investor. She managed somehow to persuade the bank to lend £60m to the company,interest free. So Eddie decides to go get more work and expand. Coca cola had over 140 sub contractors. He went in and said we either do the lot or nothing! Rates of work were 40p per mile in the 80's. So Eddie offered 10p per mile, and landed all the work. Ho hoho, Eddie the man. In the 90's HSBC went on a spending spree, and bought the Midlands bank. They wanted their money back, and Eddie struggled to get the money! Scroll 20 years forward and the same problems exist in the company. Going around undercutting doesn't necessarily mean profits. Same old, same old, I laughed out loud when he told me this story. Now to the peeps on here looking for a couple of bags. £250m debt isn't going away too soon. EBITDA profit isn't Net profit, so still struggling to really make money. Doesn't surprise me though, profits are wafer thin, and I'm talking thinner than some models. Only Wincanton really makes money in this low profit sector, contracts with Tesco, Morrison and Amazon are usually very low to break even? But do carry on, if you think the company is investable. I'll pass on the chance, worth a trade if drops sub 5p.

Yes, we do have some cobalt. Previous drilling showed some in the assays. A bit of gold also, but to really prove up other minerals, we'd need to drill the entire resource. Something we don't have is a large amount of cash to work with? Hence only 8000m of drilling in current campaign. The plus side is hitting sulphides in Fwiji, its pretty nailed on we've got Tier1 there. Only guess is what happens after the drill results are examined by AA?

Totally agree with your comments on sale of both licenses. Only posted a 4th alternative, because some were suggesting it as a possibility? Personally I believe AA will buy out the licenses, after the current drill campaign has concluded. After all relevant data has been analysed,or if bid is rejected? It'll be sold to another major? Personally believe we have numerous Tier1 deposits on the licenses. Nick and Remy have referenced Voisy Bay discovery. Reason is that they only drilled the assets, then concentrated on the eventual sale. The grades at Voisy Bay were exceptional and it didn't go cheap, many on here are commentating on low offers? Don't see a low offer ever being accepted by Nick and Remy. Close to two nearby mines, quantity and quality of copper, very few similar around the world. Chacopyrite hosts sulphides, and they are finding it, not just at Fwiji, but also at Cheyeza East and West. The fact that David Wood is working on the licenses is a bonus. Nick could learn more about the assets from him, than anyone else in the world. Just a case of waiting for the pending assays, and what comes next?

The 4th alternative is to sell part of the license? The reason I mentioned Fwiji, is that the pictures of the assays that were posted on Arcm's twitter account. Clearly showed sulphides, which are more extractable than oxides during production process. David Wood is concentrating on the North area for a reason. FQM'S Sentinel Mine has some missing mineralisation, for when David worked on the license? I'm guessing, but pretty sure that David is finding the missing copper under Arcm's licenses to the north? We could sell off Fwiji, and get a great deal, assuming that we have sulphides at depths. Thus enabling us to develop the rest of the licenses, without the need to raise further money? Remember West Lunga is also in the North of the license area, and could also hold significant mineralisation? All will be revealed over the next few months. One thing I'm pretty confident on, the offers will happen. Tier1 is when the big boys come into the game, they don't waste any time on anything less of value.

If Fwiji has massive sulphides at depths of 250m+ and its looking that way, then deposit is Tier1. This increases the value of the license significantly. AA will want to be able to negotiate a buyout, without a bidding war by another party? After all the drilling results are in, and this is being directed by David Wood, AA's top geo in Africa. The problem lies with how many Tier1 potentially is on the licenses. To drill sufficiently would require roughly 100 holes at 500m depths? Currently we are drilling 8000m at roughly $2m costs? So $1m =4000m,so $12m = 50,000m of drilling with multiple rigs and lab costs? Remember some holes have already been drilled, and hit mineralisation. These would be drilled further at depth to find out how deep the mineralisation is? There are three possible scenarios that come into play. 1 AA make a very good offer in excess of $1bn.2 Nick rejects the offer, and another party make an offer, creating a bidding war? 3 the sp hits a new high, Nick raises $15m at say 15p.With $5m from Casa due next year. That gives the company $20m to start a massive drill campaign next summer. And as my favourite expression in mining, Drill the hell out of the resource, further proving up the licenses, then sell to the highest bidder? We'll have to wait and see if current drill campaign has sulphides at depth. And more importantly, how much % of copper. Personally the fact that they are concentrating on the North area, close to the DRC border? Suggests to me that David Wood knows what he's looking for, and finding the sulphides with ease!! Previous drill campaigns have seen the sp go up, then sell off. This time is different, yes there are traders ready to sell on assays. But the overall feeling is we are getting a buyout sometime in the future?

Even if AA don't extend their exclusivity agreement, because China is their Head Honcho. We'll have a much higher sp in 6 months time, and $5m from the sale of casa. So could raise an easy $10m with Institutional investors on board. Then my favourite expression (DRILL THE HELL OUT OF THE RESOURCE). GGP did the exact same thing, and look where it is now. We've got the Tier1 assets, just a case of how much and how deep. Afterwards, we could get a major involved post drilling. Thus creating value in the ground, with minimal dilution and a higher mcap. Remy did reference Voisy Bay, GGP and solg in previous interviews. Clearly Nick and Remy have over 31m shares and warrants, so definitely want the best deal. With the Chinese buying up Tier1 assets of industrial and precious metals, the assets will be sought after. We've got the aces up our sleeves, and the majors know it.

Think this China is only here for his/her agenda? Should be ignored, as is playing games. I'm here for the eventual buyout, and not to make a quick buck! Some like to create arguments on bb, in order to gain an advantage? Simply put, ignore!

AA have to either make an offer, before the deadline or if they want to extend by a further 6 months, then have to pay for a minority % of the company. Which I'm assuming would be higher than the current sp, if drill results come in as expected? It's in the agreement, so with $5m from casa next year, and AA buying into the company. There would be enough money to DRILL THE HELL OUT OF THE RESOURCE, with multiple rigs active. Then after drilling, just open the data room, and let the bidding begin? Remember Nick said he wants to make private investors wealthy, not the majors. If they can keep the majors away from the assets, long enough to get decent drill results at depths to 500m?Then they don't need to do anything afterwards, but wait for the offers?

Some people on this bb would be happy to get 10p. If you understand mining, (I'm definitely no expert). Then Tier1 assets are where the big boys come in, it's the same in all types of minerals. I'm pretty confident that we have a few Tier1's on the licenses. Only problem is that we need to drill them out, in order to get a good deal. We don't have the money to drill them, (Kiwara had $20m spent before being sold for $260m). So hitting those sulphides at 250m is going to help keep interest in the licenses. We've already found mineralisation all over the licenses. So now is to add value via 8000m drill campaign. We haven't been given much to go on, because of the confidentiality agreement, by way of the conference call. Nick admitted they've drilled 3 holes in Fwiji and hit mineralisation, so not a bad effort. He also said that 2 holes in West Lunga didn't have any mineralisation, but there could be some at deeper levels? I'm sure the next rns will be transformational, in providing the info for follow up drilling next year. AA to keep involved will have to buy a minority interest, that money and numerous drilling rigs next year, to drill the hell out of the resource. Then with copper price much higher and a bidding war to create a perfect storm? For AA to make an offer now, it'd have to be closer to $750m,depending on drill results?

That's why they want Institutional Investors on board as the sp rises. Sticky money means less day to day selling, creating a new base floor. That would make AA stump up potential $20m for 10% of Arcm. Then we drill the hell out of the acreage, and at depth in already proved up holes. Then hit mineralisation at depth, that's Tier1 classification. Then a bidding war may be if it plays out like that?

The day the exclusivity deal was announced 14th of July, Remy bought a further 1.5m shares on the open market. They had been negotiating for months, so were in a closed period. I'm assuming some basic structure to the deal in hand was made? Now nearly two months later, and people getting itchy feet? Whether there is enough data to make an offer is speculative? After all there's a lot of acreage to still drill. I'm expecting a extension, with an increased sp. AA would have to buy a % of Arcm as part of the current deal in place. Which would give Arcm the necessary funds to really drill out the resource and create much more added value to the licenses. But as always a waiting game, who's going to play chicken with possible multiple Tier1 assets for sale?

Everyday I look at the buys to sells. Not always correct but since AA announced exclusivity deal. There has been more buying than selling, but always like today, some volume not accounted for? About 1m shares that have not been printed! My calculated guess is someone is accumulating, with aid by the Mm's? Just a observation, but could be wrong.