Member Info for prickly

CB used to say that the SP of a junior copper miner was akin to a copper call option. Not anymore sadly. Bush Ranger could be viable at $10,000usd per ton and above we are told. So we are now at break even level and no major in their right mind would get involved in a project to break even. i think we can safely discount BR for now which leaves the African ventures which are being funded by our gold mine sale. We were told at the AGM that the copper ventures held out much better prospects than our 23% of Manica. The current SP is despairingly low The race is on to see if if one of our licenses can be profitably developed before the sales proceeds run out.

There seems to be a consistent seller off loading sizeable chunks which is depressing the SP and me.

I have just been in contact with CB. There is a lot of understandable concern about the exasperating delay.

He is 100% confident that the license will be awarded . He says that the management is actually conducting all aspects of project management as if we actually had the license in hand. All the Ducks are in a row. Certain key aspects such as finance of course cannot be finalised until we receive the formal announcement > The date or timing of this is in the hands of the ministry and hence beyond our control. He did not want to speculate any more on this as he is aware that his 3 week prediction has irritated many shareholders . So there we have it. Just need to hold on till it actually happens.

Belonging to a centre left faction of the Democratic party does not make her a Marxist. I doubt if she wants to abolish private property . Her father was a professor at Berkeley and his mother a civil rights activist and prominent cancer researcher. She may want to expand the healthcare sector in the US and possibly even reform the police. Both good ideas in my view. Does that make me a Commie? I think you should stick to mining Analytical. I find your views on GLR quite informative but your political comments sound like a bar room Trumpite.

Chrisp

I think the greater risk would be an economically illiterate president creating a worldwide recession with huge tariffs and imposing massive trade barriers, effectively ending the free trade era which brought prosperity and better living standards for most of the population.

It now seems likely that the licence will be finally signed off within weeks if not days. CB maintains all is ready to go and the licence is going to be the catalyst that gets everything into gear.

I queried if this is really going to happen as planned. There is little evidence elsewhere in his companies. At GLR the Luansobe licence was awarded . The mining licence is the Holy Grail he explained. Luansobe was awarded at the end of May in Zambia and the GLR SP has gone nowhere since then. It maybe that they are looking to sell Luansobe outright. And news will appear soon , so this case is not comparable. In another example XTR had arranged a deal whereby it was paid 23% of the profits in its gold mine licence in Mozambique. This arrangement was abruptly curtailed when the 23% was sold back to the contractor for $15m. Which we would have received in three years as income.. Not a great deal but apparently it was getting too difficult to extract payment from the contractors.

CB also said that 290 licences have been granted Namibia in recent times and only 4 have resulted in mines. He gave this as an example as to why Namibia is now being much more selective in how they are awarded. So we may be suffering undue delays due to this new attitude. We have had to submit hundreds of pages of applications and supporting documents.

I was accused at the meeting by a fellow shareholder of whingeing and I do not doubt that CB and his team have put a great deal of effort and money into submitting this H & G application and it may well turn into a proper functioning mine which could reap millions of profits and completely transform BZT. To do this we need a detailed plan to coincide with the news of the licence. This plan should detail the costs and prospective profit share based on $9,000 per ton. Shareholders deserve this.

Hope is what keeps us alive on Aim Rmc and the very occasional ten bagger.

I see Clontarf has leapt up in the space of a few days . Nearly a ten bagger. Hopefully BZT can do the same. The licence and prospects of mining 8k tons a year could do it for BZT too. Eh Mr T?

On the day the License RNS was announced I met Statunga (aka Cooperlemon Consultancy who own 25% of Luansobe)

I got the distinct impression that consultations with buyers were already underway. Bear in mind that management knew in advance the license had been granted as did anybody who looked at the Zambian mining register.

We should not confuse absence of evidence with evidence of absence. CB and co are not going to give a blow by blow account of the negotiations . An announcement will come soon and it should be very good news.

Small exploration companies like us have to try to balance the interest of their shareholders who want to sell out in the short term with the requirements of Permit issuers like the Zambian Government who want us to go ahead and create jobs and royalties. CB's job is to keep both options alive.

I think Statunga (Copperlemon) will be pushing for an outright sale and this must be the favourite option atm. The UAE purchase of neighboring Mopani will have done our sale prospects no harm. CU rebound to $4.65 or 10k would help.

I think we can safely assume the license will materialise. I believe CB when he says they have done all they can and we just have to wait on the minister's signature. The copper price seems to be holding around $10 k per ton and this should be enough to proceed once the bloody license drops. The processing plant is ready to go and the contractors are all lined up. We long suffering should get some respite soon but don't ask me when.

Can't believe I wasted 15 minutes listening to them natter about private schools and Donald Trump. Good lord.

Couldnt agree more BenH. What on earth makes them think we are interested in their low brow opinions about trump politics and private schools. They should stick to ramping junior miners and hopefully giving us reasons to stay around,

Howezap

https://investingstrategy.co.uk/mining/investing-strategy-the-xtract-resources-edit/

Yes I went to the presentation. Aimed at City types. Around 50 pitched up. Cooperlemon were there and gave a brief talk.. Chatted to them afterwards. I think we are working with some good people. They know their way round Zambia and there is a lot of action from Big boys who are keen to get involved.

Cyber

I also heard the rumour that Cooperlemon had sold a mine in Zambia recently . Quite a large sum of cash . Dare not repeat the figure here but rest assured it was many multiples of GLR's market cap

Notwithstanding the recent correction in CU price I would like to quote from Peter Archer's analysis of GLR .

THE BOTTOM LINE

"GLR has built a significant asset base, much of it within Zambia and much focused on copper-which is potentially about to go stratospheric.

With multiple plans for assays, potential mines, joint ventures Cooperlemon et al it is well placed to benefit from a perfect storm."

The presentation was about Copper and CB's group of companies . GLR featured prominently as Cooper Lemon from Zambia also attended and gave a short explanation of their role in furthering copper mining in Zambia. Copper lemon own Statunga which has 25% interest in Luansobe along with GLR. Otherwise all other companies including BZT were given equal prominence. All very positive. The impression I got from the Zambians was that the tide has turned and there is a lot of interest being generated in copper mining as the much heralded copper shortage is finally focusing the big players..

Incidentally the license for Luansobe which was announced yesterday should galvanise GLR's short term prospects. Hopefully HG license will have a similar effect on BZT.

Thanks for posting this Link. Makes a good argument for investing in BZT so I disagree with RMc. Especially at these levels NB Willy's punt was marked as a sell. BTW

Article refers to Mankayan which surely should happen in the foreseeable and the mining license at Hope which should appear any day now. Described as the Holy Grail for juniors. Very encouraging

Andrew quite rightly attributes the poor languishing SP to to the collapse in confidence when the spurious guidance of 2mt turned out to be 1.3 mt. . Since then other boats have been floated but everyone is nervous about the skipper . However this rising tide of copper may come to our rescue and bail us all out. Inshallah.

And the closer the company is to production the more sensitive it is to copper price fluctuations.

The Namibian ministry of mines cadastre does state that EPL 7170 is "Renewal pending" They seem to be having problems with their website but CB has assured us that it is only a matter of time . I asked him if he was chasing them and he said it is counterproductive constantly chasing them. It is immensely frustrating watching the copper price surge and our SP collapsing but selling out now would be desperate.

i prefer this bb when we stick to informed comment and criticism . tempting though it is to **** off posters, it does not really get us anywhere. shareholders all ultimately want the sp to improve.

have listened to the zambia special and even allowing for the "sponsored" element it is all very positive. the more appetite for copper investments the better our prospects . i was particularly intrigued to learn just how close luansobe is to mopani which has just received a $1.1m injection from uae. as they say we just need to prove up these resources a little with some more drilling. but hopefully not much more. i think the good days are not far off. offers should then materialise if the copper price remains around $10k per ton . my friends in the jewellery business tell me the current high gold price is bringing in lots of folk selling off their spare gold. these price hikes tend to focus interest and stimulate investment.