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ARCM for me.
Currently in exclusivity agreement with Anglo and waiting on announcement for a deal on ARCM's copper assets so expecting a very healthy period when that happens, or possibly takeover news. I've loaded up but DYOR obviously.
I'm feeling ultra positive
We have a company here with great / in demand assets that we get to invest in before the heard arrives it seems. If everyone knew about it we'd be having to pay a lot more than 4p a share so depends how you choose to look at it.
When it goes it will go big as many will clamber to get in and considering we have AA and their Geo's happy enough with the copper to proceed to DD then it's an even bigger gift of a price IMO.
We might get a deal confirmed within the original 6 month period. That would be nice.
The exclusivity could remain in place after a deal is confirmed too. For example an acquisition or partnership for Zaco or just Fwiji confirmed this month and the EA extension remains in place for a Zamsort deal. That would be very nice.
I found an old Ortac presentation the other day and it put some perspective into how close we could be to something big and how little we need to wait to find out.
Zamsort / Zaco history:
Kalaba prospect first reported by the Rhodesian Congo Border Concession (RCBC) in 1928.
The Roan Selection Trust (RST) investigated and explored the area in 1958-60.
AGIP explored for Uranium in the area in the 1970’s.
The Anglo-Equinox JV ‘re-discovered’ the Kalaba Prospect in the 1990’s and carried further exploration across the Kabompo Dome, including ARCM's current license area.
2002 Anglo leave Zambia including selling their stake in the Konkola mines (ouch).
In May 2006 Zamsort Ltd was issued with Small Scale Mining License (SML) and later on in the year applied for the Large Scale License Area (LPL).
2013 Anglo want back into Zambia but we now have their old licenses.
Equinox subsequently challenged the grant of the LPL but after a fight it was finally granted to Zamsort on the 15th August 2014 after instruction from the Attorney General. Game on for Ortac / ARCM shareholders!
2018 / 2019 Zamsort was split to allow the formation of Zaco to satisfy Zambian mining regulations.
2020. 18 years after leaving the country and after 8 years of unsuccessful exploration elsewhere in Zambia (! ? !) Anglo have returned to Zamsort / Zaco and they want the copper back. What other options could they have?
93 years on from when it all started it feels like we may be entering the start of the end in that a major is very likely getting on board to take steps towards mining the copper if they offer the right price.
If the BoD decide there's more value to give it another year or to offer the assets out to other majors then so be it because that will be in our best interest. Either way the SP will surely be many multiples of what it is today soon enough.
Heads we win tales we flip again, and again, and again etc.
I believe CGT will apply for profit above the value of the shares at the time they were suspended (whilst not held in an ISA).
That's my take which seems logical to me, but I'm not an accountant either.
Hi SmallHolding
It doesn't matter who's right or wrong I'm merely pointing out what some people believe to be true based on questions answered directly by the company. This doesn't reflect my own view on what should happen because it's obvious that some confusion exists, and I agree with the 4 potential outcomes you listed and the way the comms should happen.
For what it's worth I think there should be an RNS at the end of the exclusivity period (whenever that is, not necessarily 14th Jan) maybe for no other reason than to avoid any confusion.
Anyway I think I'm going to retire from the specifics of the EA / extension debate since it's been discussed a lot now. The only reason for my post was to share what I believe the company have confirmed to be true.
SwanseaRich
In answer to your question yes someone has contacted the company and the reply (as I understand / read it) was that we have effectively entered into a period of due diligence that is now allowed to extend beyond the original 6 month EA period.
As such I don't believe the company see's the need to make any announcements at the end of the original 6 month period, since the RNS's of 14th July and 7th December cover this already.
Semantics to a degree, but not if people are planning to buy / add subject to expecting news around 14th January to confirm that AA are moving closer to making an offer. For me that news landed 7th December so I'm personally not expecting that an extension confirmation RNS in January is required.
And do we know that 14th January was the 'deadline' since we can't be sure the EA started on the same day as the RNS of 14th July?
Thanks for getting back to us with that Lovelyboy. Lets see what the next few weeks brings with news. It's good that a bit of excitement is coming back about the prospects of BOU.
GLA
Lovelyboy
How did that hunch pan out?
I expect the prospect of low ball offers would have been quashed before due diligence. Don't you think the deal would have been agreed in principal based on the technicals / data before AA being allowed inside to perform DD on Zaco and Zamsort?
It seems to depend how we interpret the released wording but my opinion is that 1) Graham and others are correct in that the exclusivity period ** has already been agreed to become extended once 6 months have passed ** and that the RNS details cover this already without the need of another release. OR 2) that the plan is to confirm an offer or complete a transaction within the original 6 months which feels possible if the tech review ended early December. In which case talk of an extension will become irrelevant.
Either way I believe what has been announced covers that an extension has been agreed already in the event that DD / offer / transaction etc will exceed the initial 6 month period. I also believe Arc have clarified this to be the case when asked but best to make our own enquiries to confirm direct with Arc.
Let's say as an example they need a maximum of 2 months to complete DD plus a transaction. They're going to agree on that as a separate set of activities with their own timing. They won't wait until the EA expires when they already know it might take up to 1st week in Feb. So there's no logic not to agree an extension when DD starts, if one is needed.
Also I don't think Arc have referred to Jan 14th (please say if incorrect)? Haven't we added 6 months onto July 14th AA RNS ourselves to come up with this date? Could the EA have started earlier than this as I don't think Arc would need to release the RNS on the same day, just within a timely manner?
There's no way to type messages. Do you need to activate something JP?
Thanks Neilin62 your gallant efforts are massively appreciated
Private group is a great idea.
Does anyone have preference for Telegram v Twitter?
Maybe a resolution to vote on adding neilin62 to the board?
;O)