Member Info for SeisNav

DG / Ella / Out of Luck / whoever you happen to be logged in as at the moment,

It's not a matter of me being right or not.... I'm stating facts. Try it sometime you might like it!

Further to the Settlement Agreement as first announced on 18 February 2022, the Company announces the grant of options to the claimant parties over 3,000,000 new ordinary shares of no par value ("Ordinary Shares") of the Company ("Share Options") with an exercise price of 5 pence per Ordinary Share. The Share Options are exercisable immediately and will expire on 31 March 2024.

Following the grant of the Share Options there will be a total of 20,133,334 share options over unissued Ordinary Shares, representing approximately 1.75% of the Company's current issued Ordinary Share capital of 1,150,519,886.

Continued...

Other Facts:

Nick has recently been to Zambia for talks with the Minister for Mines and Minerals and other government officials. I’m not aware of any other CEO’s of junior exploration companies which have had this opportunity. The minister has said that they are actively seeking greenfield opportunities to develop new mines.

The settlement of the court cases included a limited amount of cash, but more importantly, share options in the company… they know the potential value of those shares as well as anyone.

We have brought onboard Valentine Chitalu as NED. Former CEO of the Zambian Privatisation Agency… make of that what you will.

We have Rothschild and Co as advisor with no retainer, only a fee on completion of a transaction.

These are just the things that come immediately to mind... I'm sure I'm missing some others, but these are the reasons why I'm happy to remain invested.

Geology Facts:

Our licenses closely follow the geological boundary between the Upper and Lower Roan strata. All of the major deposits found in the Domes region are closely associated with this boundary.

All of the major deposits are also closely associated with major fault lines caused by the creation of the domes. At least 5 major fault lines cross our licenses and the copper anomalies match these fault lines very closely. See the images for more details:

https://twitter.com/NavSeis/status/1438948359990087685?s=20&t=CneyryDBzWf7p7Ss6zfPuw
https://twitter.com/NavSeis/status/1438950139822067713?s=20&t=CneyryDBzWf7p7Ss6zfPuw

Geochemistry Facts:

We have a ‘copper in soils’ map covering the whole of the license areas, created by near surface soil sampling over several years. This map has identified multiple areas of interest. During the exclusivity period with Anglo American they used these soil samples to have further assays done in order to map where copper has been enriched or depleted relative to other elements (Scandium in this case). This is the same method that was employed by FQM to define the Sentinel deposit. The results show that the same fluids that caused Cu enrichment at Sentinel had also caused enrichment at multiple locations on our licenses. The surface oxides which show this enrichment are actually an indicator of deeper sulphides which have been oxidised near the surface.

Geophysics Facts:

An airborne geophysical EM survey across the license areas reveals anomalies which are closely associated with the geochemistry data. A new survey with closer line spacing, carried out last year, will provide more detail and help in the targeting of further drilling and identification of potential new targets.

Drilling Facts:

Shallow drilling at multiple locations has shown oxides with some of the best grades seen across the Zambian Domes. Deeper drilling last year intersected sulphides at Fwiji and Cheyeza East. Drilling was severely limited by Covid and the malicious efforts of our former director. Our number one target is yet to be drilled.

Anglo American Facts:

They explored our licenses in the 1990’s and identified many of our current targets. They completed full technical due diligence during the exclusivity period and announced that they were sufficiently happy to proceed to a commercial transaction. No agreement was reached during the EA and it was agreed not to renew it in order to allow us to talk to other interested parties. Nick confirmed that negotiations were continuing with Anglo American.

Other Facts:

Nick has said that a deal would likely already have been agreed if it were not for the malicious court cases which prevented this from happening. With the cases out of the way at minimal cost to the company, we are free to complete on the deal, although other interested parties wanted further talks… it would be prudent to talk to them first before proceeding with any deal.

To be continued...

They couldn't get the financing sorted, so it looks like Golden Square will try to find a new buyer, hence the longer extension.

Social media in general has become increasingly weaponised to drive particular agendas, whether it be ‘influencers’ on instagram trying to sell products, YouTubers creating controversial content designed to attract attract views and create revenue, ‘fake news’ on Twitter and Facebook to forward political views. What was designed as a way to connect people and share information has degenerated into a cesspit of lies and misinformation. These message boards are not immune from that either. It’s a great way to find out and share articles and facts about a company but once you start putting your faith in the opinions of anyone on here you are at risk of being played. Stick to the facts… they are out there if you make the effort to look for them.

That is for the current JORC resource estimate not the new target which is defined in the first paragraph on page one. Further exploration is needed to try and prove it up. Nothing to get excited about at the moment though!

Still work to be done I think, but our target lies within the estimate so more promising than I expected. I’d pretty much written off anything else coming from Sturec so this is good news. They just have to prove it up before 2024!

https://wcsecure.weblink.com.au/pdf/MTC/02504198.pdf

“The Resource Upgrade Royalty

If, at any time in the period between 19 November 2021 and 19 November 2024, the Šturec JORC Indicated and Measured Resource exceeds 1.5 million ounces gold at a grade greater than 2.5g/t (inclusive of recoverable Ag equivalent), MTC will pay Arc a further A$2 royalty per additional ounce of gold . This royalty is capped at 7 million ounces of gold.

Any consideration due under the Resource Upgrade Royalty may be satisfied in either cash or by the issuance of ordinary shares in the capital of MTC.”

Teaye, sorry if I’m stating the bleedin’ obvious but you do realise that OOL and Ella are one and the same bloke don’t you? It’s just that you appear to be treating them as a genuine investor. Just thought I’d point it out for the benefit of any newcomers out there!

Ah, I see it was announced last month…
https://im-mining.com/2022/02/21/first-quantum-owned-kalumbila-minerals-changes-name-to-fqm-trident-to-better-reflect-three-licence-identity/

I wasn’t aware of the ‘Intrepid’ target though.

I’ve just noticed that the Sentinel /Enterprise licenses have changed name to ‘FQM Trident Ltd’. Were they not under ‘Kalumbila Minerals Ltd’ until recently? The other FQM mine is still under the name ‘Kansanshi Mining Plc.’ Something afoot?

I wonder how many executives of junior exploration companies have had meetings with the Zambian Minister for Mines and Minerals recently? I think you can count them on the fingers of…. One finger!

When I was checking out some of the nearby license applications that I believe are linked to MM I noticed some were not listed as registered companies. Didn’t they get Al Capone for tax evasion in the end? :-)

Just a thought… might they be clearing up our license areas prior to some transaction? ;-)

It looks like they have started a bit of a cleanup of the applications. The longstanding one by Mushinge across Afrimin and other licenses is now gone which is nice to see. I wonder how many other licenses he has… he could end up losing some in the planned limits which they are planning to bring into force. It would be poetic justice if he couldn’t take up the application at Kalaba!

In the second paragraph it states:
“ Roan copper concentrator entering its commissioning phase post the period under review, expected to fully ramp up its production during May 2022.”

Maybe they are expecting to start and complete ramp up in May!

Charles
The Roan ramp up has been delayed, they are now targeting completion of ramp up during May. See the latest RNS.

Ray, it might be that we are producing low levels of cobalt now, but maybe not in large enough amounts to sell on a regular basis, hence no mention in the last set of financials. Leon saying “in any appreciable volumes” would suggest to me that we are producing some already, but not at scale yet.