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GLR have taken out a placing for Star Zinc:
"The directors believe that the potential ore at Star Zinc lends itself to a simple trucking operation for parties looking to enhance their feedstock with high grade zinc ore and early- stage discussions have started with potential off-take partners."
By "parties" and "potential off-take partners", they surely mean the Kabwe Project?!
Way back on 09/09/2013, some figures were produced for the wash plant tailings in an RNS. An IRR of 197% was pretty decent.
The project has changed significantly since Borrelli and then JLP became involved. One would think that those numbers would be improved significantly by JLP.
From the Chairman's statement in the JLP RNS this morning :
"I am pleased to announce that at this stage we have a very full understanding of the Kabwe Project and are confident that revenues from Kabwe will be achieved during the fourth quarter of this year. Since acquisition from BMR and all of our development work, we are convinced that, whilst the zinc and lead project was potentially a good earnings platform, the contribution of vanadium will significantly enhance our earnings potential from the Kabwe Project."
https://www.investegate.co.uk/jubilee-metals-group--jlp-/rns/funding-secured-for-kabwe-project-and-acquisition/201903211058295953T/
Here we go, at long last!
You can draw your own conclusion as to whether BMR thinks that argument carries any weight as per their tweet on 9th January :
"We are reviewing these slanderous accusations with lawyers and may take legal action; it should be anticipated that any repetition will be met with a very robust response from the Company"
You might want to tread carefully with posts of this nature.
I see it has 10 pages. More of a leaflet really.
http://webcasting.brrmedia.co.uk/broadcast/5bfc0a9dde87317597836b02
Includes "its Kabwe Project where the lead, zinc and vanadium recovery strategies have been advanced".
Hopefully have a positive vibe about Kabwe.
Why is it strange? A tweet is a tweet.
I suspect you're right. It is difficult to know where we are at present with anything without any official news from the Company. All we have to go on are releases from JLP (and GLR to come that for SZ). The continued silence from the Company is unacceptable.
Aren't JLP due to pay us £1m in the next couple of weeks if they confirm they want to proceed as JV Operator?
Looking forward to an earth shattering RNS (or three) at some point this coming week.
Come on AB. Cometh the hour, cometh the man.
Without actually seeing the licence, which us minnows haven't seen, I would have thought that it could be as open as the processing of the tailings. So, as long as they are being processed, if just for zinc, then I would have thought that the conditions will be satisfied.
Good tactics then to get that aspect up and running to satisfy the conditions to protect the licence, which is key.
Again, the JV will have obligations on the operator, ie JLP, to not breach the terms of the licence, so they will have to crack on with complying with their terms.
Good to see JLP being proactive with the ZG.
Could do with seeing some up to date photos so we can see the progress being made on the ground and JLP committing fully to the project as it doesn't seem to make sense that they are getting on with things and all of their efforts so far, without fully committing as yet.
It would be good to get the new Nomad news sooner rather than later.
Yes, there has been a notable increase in the number of trolls whilst we have been suspended and expect it to increase in the next couple of weeks. We've heard it all before over the years so it's all water off a duck's back for the long term holders. It's laughable at times.
Jlp are cracking on with the zinc circuit. Some capex reduction and improved grades coming. What's not to like. Not sure about the licence conditions but they might be able to get away with just implementing the zinc to satisfy the strict conditions. That way, they can perfect the lead and vanadium process with the pressure off. Zinc is a good one to go for first up anyway as we can make the zinc fertiliser as well as the purer zinc.
Jlp have been incentivised enough by BMR to make it worth their while in getting on with things to the mutual benefit of both companies.
Interesting times ahead.
Thank you for taking the time to post that.
Sounds pretty positive to me. At least we know something needs to happen by early August.
Onwards and upwards.
Lol. That post certainly was a load of old boilocks!
Thanks bjlabuk
Doesn't Rule 41 apply if a company applies for cancellation? We haven't done that. The six month time limit is in place for that scenario to make sure that the cancellation process doesn't go on and on.
Otherwise, I can't see any 6 month time limit issues other than reverse takeovers and submission of accounts. WRN have been suspended for over 3 years and are still listed.
We need a new Nomad in one month, that's for sure.
Which rule is it bjlabuk so that I can read it? Couldn't find it when I looked.
We need a new Nomad within one month OR readmission. We don't need both.
Out of the two, I suspect that it will be a new Nomad as we are "in advanced discussions" with one.
Appoint a new Nomad and then we just let JLP carry on.
There, panic over.
I think an EPB is needed to deal with the V as they have only approved Pb and Zn so far. That will take a couple of months for Zema to approve so, hopefully, that can be submitted to them sooner rather than later.
Processing V from the off would be great news. That's the real jewel in the crown for the value of the tailings.
Looks like a Bed and Isa to me. Just someone happy enough to use their entire year's Isa allowance, confident of getting a good tax free return on them.