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F79, good summary, thanks for that.

With regard to the LML applications, it may be done in our local company names rather than Anglo Exploration so that in the (unlikely) event that Anglo decided to dissolve the JV, the licenses would automatically revert back to us, with no need for further action required. I would guess that Arc / Rothschilds have insisted on this.

Why exactly that are applying for them now is open to speculation, it could be any of the reasons you have stated or it could simply be a way of transferring ownership back to Zaco / Handa as stated above.

Nice! I think once those two licenses are transferred we are as good as done!

This thread, as always, seems to have veered into the ditch so here’s my original reply to F79 in case it’s of use to anyone. I’m off to the pub, don’t sign the deal without me! :-)

* 19906-HQ-LEL - Handa Resources - Status Active: Expiry 9/9/2024 - no change.

We did divest the Zamsort licenses from Handa, 8248-HQ-SML & 23243-HQ-SEL
33404_HQ-LML Handa Resources status: Application

* 23005-HQ-LEL - Zaco Investments Ltd - still pending renewal - no change.

32254-HQ-LEL Anglo Exploration Zambia status: Application

* 28700_HQ-LEL - Afrimin Resources Ltd -
Status: Active Expiry: 31/03/2025 - No change I can see but appreciate their is some open debate on ARCMs situ with the afrimin area.

Areas I've observed a change are:

* 23004-HQ-LEL - Zaco Investments Ltd - now active from pending renewal

32564-HQ-LEL Anglo Exploration Zambia status: Application. Also covers the previous licence at Fwiji : 24958-HQ-SEL
33402-HQ-LML Zaco Investments Ltd status: Application. Only covers the northern part of 23004_HQ-LEL but includes area that was previously 24958-HQ-SEL
33403-HQ-LML Zaco Investments Ltd status: Application. Only covers the southern part of 23004_HQ-LEL

* 24958-HQ-SEL - Zaco Investments Ltd - was active due to expire 15/09/23 but no longer listed on cadastre on a search.

Now absorbed into the new applications as listed above.

Also new application 32583-HQ-LEL Anglo Exploration Zambia status: Application.

I think there will be further application(s) forthcoming before things are finalised. I spotted something today which whilst not directly related to us, may point to further activity. I’m not going to mention the details here though.

Ella / DiamondGaezer taking genuine points out of context… who would have thought that!

Frankly if you are still questioning the massive potential in these licenses (show me anywhere else on the Copperbelt that even comes close) after all the so called wonderful research you have done over the last 2 years, then I have to question either your abilities or your honesty.

I just get tired of hearing the endless talk of dividends. Leon has laid out the probable timeline for that… after the Northern project has been brought into operation. It’s not going to come any sooner so why harp on about it? Any genuine investor (and I mean investor, as in someone who is invested in the company rather than just the share price) should be excited about what’s going to happen here over the next 2 years… I know I am.

Did the company need a dividend to re-rate from 2p to 20p at the peak? No they didn’t. Will the company re-rate again when they have proved that earnings are continuing to grow massively…. Yes they will. Presumably you will be along to admit you were wrong when it inevitably happens?

I should add that the fact that we see further license(s) being applied for around the boundaries of our area shows the commitment and belief of Anglo in this area. Let’s not forget that as well as the considerable data that Arc has generated over the last few years, Anglo have historical data from when they were exploring the Copperbelt in conjunction with Equinox. Due to political reasons they left Zambia and the licenses were left to be explored by Equinox…. Who discovered the Lumwana deposit and were then bought out by Barrick Gold for more than US$7 Billion! Let’s hope there’s another Lumwana or two waiting to be unearthed within our licenses :-)

VS, my view is that we just need to have the exploration licenses confirmed in order to have the JV progress. In order to avoid surrendering half of the Zaco areas at renewal (as is standard practice) I think they have agreed that the applications will be in the name of Anglo Exploration Zambia to claim the whole area. Obviously this would have been done in consultation with Rothschild & Co to ensure everything was ‘by the book’. In the longer term, LML’s have been applied for which are in the name of Zaco Investments so ultimately we have a guaranteed 25 year ownership of the whole license area as part of the JV (or even in the unlikely event that the JV was cancelled)… fantastic for us.

Unfortunately during these periods of exclusivity it seems that no communication is being permitted. We saw the same during the negotiations prior to the deal being announced… total radio silence. I’m sure there will be plenty of news flow once it is again permitted. That’s likely why we are seeing very little on social media too at the moment.

Anyway we will find out very soon, either the deal will be announced or a further extension will need to be announced. Hopefully the former!

Yeah, there are more fakes here than in an Indian Rolex shop most of the time :-)

You’re not nearly cryptic enough to be the ACTUAL Ruffles!

I don’t think we will be waiting for granting of mining licenses, that’s likely further down the road. As far as I understand it Anglo will just need confirmation of the status of our licenses. You are not going to get a running commentary on the status of things so don’t expect one. It will be announced when things are ready. They may well already have all the information that’s needed to complete on the JV.

I don’t know how long you’ve been waiting valueseeker but I’m guessing its not as long as many who are invested here… try a little patience. As Warren Buffett said, often successful investing comes down to doing nothing. If your a trader then fair enough but for many, the JV is just the first stage. The big returns will be further down the line.

* 19906-HQ-LEL - Handa Resources - Status Active: Expiry 9/9/2024 - no change.

We did divest the Zamsort licenses from Handa, 8248-HQ-SML & 23243-HQ-SEL
33404_HQ-LML Handa Resources status: Application

* 23005-HQ-LEL - Zaco Investments Ltd - still pending renewal - no change.

32254-HQ-LEL Anglo Exploration Zambia status: Application

* 28700_HQ-LEL - Afrimin Resources Ltd -
Status: Active Expiry: 31/03/2025 - No change I can see but appreciate their is some open debate on ARCMs situ with the afrimin area.

Areas I've observed a change are:

* 23004-HQ-LEL - Zaco Investments Ltd - now active from pending renewal

32564-HQ-LEL Anglo Exploration Zambia status: Application. Also covers the previous licence at Fwiji : 24958-HQ-SEL
33402-HQ-LML Zaco Investments Ltd status: Application. Only covers the northern part of 23004_HQ-LEL but includes area that was previously 24958-HQ-SEL
33403-HQ-LML Zaco Investments Ltd status: Application. Only covers the southern part of 23004_HQ-LEL

* 24958-HQ-SEL - Zaco Investments Ltd - was active due to expire 15/09/23 but no longer listed on cadastre on a search.

Now absorbed into the new applications as listed above.

Also new application 32583-HQ-LEL Anglo Exploration Zambia status: Application.

I think there will be further application(s) forthcoming before things are finalised. I spotted something today which whilst not directly related to us, may point to further activity. I’m not going to mention the details here though.

It makes a change to see you whinging about something other than dividends summit. Nice one.

Tony, it’s in the part of the world that all of the majors are rushing to invest in… as I’m sure you well know.

Looks like the second eleven are out tonight! :-)

PGM’s before costs were about US$1,875. They stated the intention was to stop the JV eventually so I’m not assuming anything from that. If we do get something that’s a bonus.

I’m only calculating earnings so no idea if US$120m revenue is reasonable or not.

Also, just noticed you have 25,000 oz PGMs for the period, the expected annual production is 44,000 oz, or 22,000 oz for the period.

Are you sure you’re not calculating for 12 months rather than 6 months?
For the last period, the average PGM basket after deducting costs was just over US$1,000 / oz
The average copper price for the period was US$7,800 / tonne.
Leon said we would be selling first cobalt in January so I wouldn’t expect anything from cobalt in the period.

My calculation was US$38m for the period. I have allowed for 10% reduction in chrome / PGM production due to the load shedding issues in SA. Hopefully that proves to be pessimistic!

F79 I’m sure that Ella was well aware that the Fwiji SEL didn’t expire, after all, he’s known for wonderful research and wouldn’t have missed something like that. It has been removed, presumably as a consolidation of the new licenses. It wouldn’t have been removed unless we applied for it to be removed.

I noticed that Ella has started trying it on with JLP as well now…. He’s not going to get such an easy ride as he does with the CB lifestyle companies he usually hangs around on :-)

For the benefit of new investors, people who I don’t trust on this board include Ella10, PeggyCilla911, Travelcard, NorEsco. You are of course free to make up your own mind.