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Good afternoon Pricey

You and I have been through the dark Satanic mill with BZT and it is very satisfying to see it finally emerging blinking into the sunlight. I think the market is slowly realising what Charles Archer has been banging on about and you and I have been quietly repeating .... this is going to turn into an extremely profitable venture. with 8000 tons of CU and a hugely valuable gold and silver 40% bonus on top. Good for the shareholders good for the company and good for the 200 or so Namibians who will find gainful employment at the processing plant and the pits.

CB has pointed out that he was looking to incorporate a prepaid off take agreement into the funding mix. This coupled with our own self funding from Blackstone share sales and the imminence of production should make our agreement more appealing to shareholders than KEFI's production in 18 months-2 years.

It is the small Capex at H& G of $10-15M and the low hanging fruit of the open pits which makes this project so interesting.

Older posters may remember Devon Loch. This horse was five lengths clear approaching the finish line in the 1954 Grand National. It suddenly jumped and collapsed on its belly. It was the Queen Mother's horse and she had assumed he was home and hosed. So perhaps we should not "safely assume "anything but I am very confident, Paul.

I think we can safely assume that the funding package and the upgrade plans for the processing plant have been safely agreed by now. They have had many weeks to pin down the details .The EGM requires at least 21 days notice and they will want to get this out of the way well before Xmas interferes.

So I expect we shall receive Mr T's "door blowing RNS" within the next ten days. High flying copper prices and Colin's negotiating skills should make for an exciting few weeks. Archer predicts a bonanza 2026. we may not have to wait that long.

I had wondered what had become of Kwak. The CB berater extraordinaire. Last time he graced us with his opinions BZT was around .020 . He was always a little loose with the the figures however. CB arrived when BZT was .40 and he bought his first chunk at .36. So the subsequent decline was not quite as precipitous as he claims. He might argue that a 90% decline is not a great deal more palatable than 95%. Anyway it is a very different company now and if he cares to stick around for a few more weeks he may see a company worth many many times what it was when he last kindly advised us.

Yes I think he was very satisfied that his long term predictions about looming copper shortages and positioning his projects accordingly are looking very smart. The icing on the cake of course are the gold and silver contents which now amount to 40% of the total value. (31.00 g/t AG and ..42g/t Au). In other words at 1.36% Cu every ton of ore will deliver $150 Cu, $50 AG and $50 Au. That's a lot of icing.

I only added 2 million and yes you are right this is a lot higher than most of my current ISA. However I think we are close to a major event and this just might set us off towards the much greater targets, so today's price may look very cheap in two months time. I am very keen to hold as many as I can afford in the meantime.

Was delivered by CB in the first half of the year. Full Licence, Blackstone merger, plant acquisition etc. At the interim he informed us that key equipment has been ordered and we know he has the funds for this thanks to BSX share sales.

So I have used this dip to buy in some more shares this morning and am fairly confident the value will bounce once the Funding EGM/ RNS comes out. So like most of the posters I am very happy with developments this year . I am punting on an early December EGM.

I don't think anybody was suggesting the BZT with its projected 7000 tons annual production would plug the gap caused by Grasberg disruptions ((700,000 tons pa). Reports suggest could lose 35% of this next year. However BZT could benefit from related price increase when it starts production . I hope this will be sooner than 12 months, Irish.

Incidentally I see Copper is proposed to join the 2025 critical metals list along with silver in late 2025. Also worth noting Manganese has been on it for some time which bodes well for our Kanye Botswana project when this finally gets moving

These copper prices look more sustainable than the previous highs which were mainly driven by lunacy of Trumps tariffs on all copper imports. (He had to revise them when he realised the stupidity of it TACO) .

CB talked about the majors buying up one another and how this does not lead to any increase in production. He predicts the copper price is now going to drive renewed interest in the likes of BZT which is close to production and others like AFP's Ongombo. I understand the plan is to share many facilities with Ongombo and I wonder if it might make more sense to merge the two projects more formally. When BZT starts production it will soon be delivering a lot of cash and could surely fund the Capex at Ongombo. This is preferable to a serious dilution of AFP . Both projects in Namibia with similar operations. Shareholders in both companies would benefit if all the synergies were contained under one legal framework. I wonder if Swanny would approve? I think he has a bigger holding then the chairman.

Hi Pricey

It looks to me like we are entering a commodity supercycle with Gold at $4,000 silver at $50 and copper at $5.00 lb. I know the dollar is weak but even so.

CB has been banging on about this for a long time and everything seems to be aligning for BZT as it transitions into a producer. Assuming I can still use the word transitions in this context...If the Sunday Roast boys and Charles Archer are correct we will be able to pay off any debt we incur raising the $15m capex in a few short months and the mcap can keep rising rapidly as we rerate. Watching the SP rise is relatively new experience for LTHs but as Nodinero says is a well earned one. If it carries on rising like this he may need to consider changing his name.

Chrisp

I would rather not get into a debate about whether Hope Gorob or Luansobe is bigger. CB did say H & G was the better prospect when I asked him at the GLR presentation last year. But GLR has several interesting projects and this is why I am invested here. The main difference is H & G is ready to start producing, has a longer license and looks to be in the process of securing the required funding > the market only focuses when a project is about to happen . GLR's time will come .

Well I hope it does blow the bloody doors off.

I have been checking how long it takes to secure a funding package for similar junior miners to transform into producers and it seems to take around four months.

Examples are Austral/Glencore $A21m , Develop Global/Trafigura, Orion/Glencore and Excellon/Glencore. There are many others with different situations in various jurisdictions but if the project is shovel ready and fully permitted and is not looking for large sums which require bank syndicating then we should be completed in Q4 sometime. The principles of the off take agreement and the SPV were explained at the AGM but the documentation is complex.

But will be a pleasant surprise for Christmas.

I agree Cyber. CB has said he does not like making "small talk" announcements so when it comes it should be significant,

Today's rise in copper is down to partial disruption at the massive Grasberg mine in Indonesia, This contributes nearly a million tons pa to the market (3-4%) . The rise shows how tight the market is and H&G production will be easily gobbled up by the steady increase in demand globally,

Is on one heck of a roll with his top tip Defence Holdings (up 500% in a month!) .Fortunately BZT is another of his favourites. He has consistently championed us and those that followed his advice when we were languishing in the .020's are now quids in. I do not see our Mcap reaching the dizzy heights that Defence holdings could achieve as a junior UK Palantir but i think a £40m Mcap is a fair target once we are producing. If the exploration of the extension also on H & G licence proves successful this SP of .25 would be a shoo- in.

Is the plan, remains the plan !

Messaged CB last night to enquire if all still on track. I reminded him what he had said at AGM: e.g. that he was planning on putting everything together that required shareholder approval and placing it before the shareholders at a general meeting. . This would cover acquisition of processing plant, SPV etc and the spell out the complete finance package needed to establish our mining operation. CB confirmed that this was the plan. Cannot be far away now.

Happy to accept the nomination RMC thanks. I have some way to go before I qualify for the job sadly. But as Chairman Mao said "a journey of a thousand miles starts with one step" . We have taken quite a few steps recently... To quote the great helmsman again I think the pending funding package announcement will be a "Great leap forward".

I have been (politely) pressing our dear leader for news and he politely reminds me he cannot tell me anything material. He has however assured me that that all is going well so we will have to wait a little. I agree with RMC and I think we should take this opportunity to top up. Once the news of the funding is announced along with all the other production timelines and construction contracts. we can all sit back and watch the SP take a running jump , I appreciate BZT have a lot of legal work to wade through to get this all ready for us to vote it through at the GM . The sun is beginning to shine on CB again and the rest of his stable are all champing at the bit, but I think BZT is the front runner.

African Pioneer up 100% in 3 months Mcap now 3.1m outsider but fast improving

BZT up 200% in six months Mcap now 8.0m (currently the front runner)

GLR up 30% in 6 months Mcap now 13.09m. Class horse with huge upside

XTR up 33% in 6 months Mcap now 6.0m. Once the clear favourite but had a bad fall at Bushranger Brook and barely recovered.

The big rise in BZT reflects the relative proximity to production and its share in BSX. AFP is maybe the next project off the blocks with Ongombo. It can share the BZT Ore processing plant remember . GLR is also potentially close to production with Luansobe. This leaves XTR trailling out of the frame in the production stakes. My serious money is on BZT but I have bought back in to AFP today (despite the irritating spread) as it seems too cheap GLR has so much potential and I bought a small stake last week. Luckily before the big rise.

i have decided to reinvest in glr after listening to cb on mid week roast. i must admit i fell asleep half way through but heard enough for a small reentry.

i was at the presentation in the city last year and everybody was enthusing about glr and the tie up with cooper lemon. sounds like things might be happening soon.. my dad flew dakotas ferrying gliders over on d day minus 1 .he described it as a fairly mundane affair until the search lights lit up the ****pit. at this point everybody jumped about trying to get out of the glare as you knew what was coming next. holding shares in cb's companies is a little similar. there is a gradual build up with very little happening and then all hell is let loose. we have had some action over at bzt with more to come i hope and glr must surely have its day soon.