Member Info for Lucky520

Think it may have been peter?

There was someone on her not that long ago, can't remember his name but he reduced his holding from above 3% to below 3%. It was quite a while ago and yet haven't had a tr1 that I'm aware of. Anyone remember that? How many months do you have to process that?

This was from the Feb RNS......

A number of Zambia based open pit contractors have submitted tenders for the pit operation and it is expected that a contract will be awarded shortly.

I'm sure we will get an update shortly!!

Yes it's a car crash interview if your invested but if you weren't it's a fantastic interview of someone telling the truth for once. Wouldn't it be a much safer investment platform if all companies told the truth? Much less chance of losing your hard earned.

I thought the same conker when he came out last year, but actually now if you listen to it again (link provided below) with the benefit of hindsight he was actually telling the truth and not dangling a carrot!!!!
He said Mozambique won't provide major cash flow to pay for large exploration. He was right! We have had to raise over 10 million and that won't even pay for all of bushranger.

https://m.facebook.com/sharetalkUK/videos/2811103715882008/

Andrew I added on the the percentage they reduced for recoverable copper and gold because I don't know if the current jorc is based on recoverable copper and gold. Doing it that way you get to the 2mt quicker based on what's in the ground.

Screenlearner, no don't need the asseys as my calculations were based on the current jorc being at .15% and none of the new drilling.

Meep, I'm not guessing. I'm basing my calculations on the figures quoted by the company and yes I included the gold and converted it to copper equivalent. All done with a piece of paper and a calculator, no super expect nor super computer needed.

Just done some maths from the figures quoted on the open pit rns. According to my calculations we are at approximately 530k tonnes copper equivalent at .15 cut off. So that means we only need to quadruple the current jorc.
I have a few concerns regarding the 2mt buy out clause.....
What cut off will be used for the 2mt? Will it be .15 as that is economic?
Also my calculations are based on total copper equivalent not recoverable copper after the deduction. Is the 2mt based on the ore reserve or the recoverable amount after the deduction.

It's imminent!

I hope we never hear anymore about the xrf machine! We were told the xrf was not accurate so why tell us the results. If the geologist are using it as a tool to help him then fine just don't tell us the xrf machine has said we have 2% copper and the the assays say 0.2%.
Hopefully they learnt that lesson in January too.

I agree iceberg I think they may have finally learnt not to over promise and let the results do the talking, not Colin!

Iceberg I'm well aware I'm not a customer! It was an example of professionalism. I don't want news every few hours, I want facts and the truth, not promises and maybes and information that doesn't come to fact which basically is a lie!
Yes the news stream from bushranger has been good.
I'm so happy bushranger came along because I would still be waiting for fairbride, eureka and kelengwa!
I probably wouldn't be here anymore as I'm sick of chasing the carrot!

Joemann, I'm afraid it's not the first weekend nor the first time! We kept being told one thing and another happens. I can forgive a bit of delay now and again but it happens regularly. If there is a delay for one reason or another then tell us.
If I told my customers I'll be there at 8 then I'm there at 8. If I'm late then I'll let them know. If I kept telling my customers I'll be there at 8 and turn up at 12 without telling them I'm sure they will get pis*d off very quickly.
This is a multi million dollar company which could end up in the hundreds of millions.
They need to be professional!
What's going on with kelengwa and eureka?
Both of them were close to production in February I believe? What's happened there? Why tell us something and get our hopes up to then go silent?

Rant over! Colin take note!

I have listened to it again and he does contradict the rns. Why, I don't know? If the hole has stopped why say it continues in the rns?
Colin can we have some clarification on this please.

Drilling of hole BRDD-21-007 is continuing from adjoining pad about 100m distant, with a third, steeper angled hole already under way from the first drill pad

Colin Bird, Executive Chairman said: "The Phase 2 drilling programme at the Racecourse deposit is now well under way at two sites. The first completed hole, BRDD-21-008, encountered strongly developed copper mineralisation, as anticipated. Drilling of the initial hole at the second drill pad is still continuing and we will report on this hole when completed. Work on site continues to progress rapidly and the third hole of the programme has already commenced."

Phase 2 Drilling Progress to Date

Drilling commenced as planned at Racecourse from two drill pads utilising one diamond drill rig at each pad. Hole BRDD-21-008 was completed at 591.4m depth and drilling on hole BRDD-21-007 is continuing. Drilling on a third hole at the first drill pad is already under way.

I thought the same lol if bhp drag out the negotiating the copper price rises and they gain from sales!!

Could see copper price rising this week.

https://www.bloomberg.com/news/articles/2021-08-01/top-copper-mine-brought-closer-to-strike-as-workers-snub-offer

Would anyone on here know what classification our 2mt would need to be to trigger the buy back clause?
I have tried to research but haven't found anything.
Will it need to be a proven resource or would inferred be enough?
I would also like to know how much infill drilling will be needed for the various classifications.

Inferred Mineral Resource is the part of a mineral resource for which quantity, grade (or quality) and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be of limited or uncertain quality and it is also reliability.

Indicated resources are simply economic mineral occurrences that have been sampled (from locations such as outcrops, trenches, pits and drill holes) to a point where an estimate has been made, at a reasonable level of confidence, of their contained metal, grade, tonnage, shape, densities, physical characteristics.

Measured resources are indicated resources that have undergone enough further sampling that a 'competent person' (defined by the norms of the relevant mining code; usually a geologist) has declared them to be an acceptable estimate, at a high degree of confidence, of the grade (or quality), quantity, shape, densities, physical characteristics of the mineral occurrence.