Member Info for SeisNav

Yes, I think it will be very similar to the previous six months. One good thing was there was no load shedding during the period in SA so that might bring down power costs a bit (or not!). Chrome price seems to have stabilised at just over US$200 / tonne, I guess we have to wait and see what happens now the Chinese New Year holiday is over.

Gray1, thanks for the numbers. I just had a look at my spreadsheet and I'm showing very similar numbers to you, at least to the gross profit stage, I haven't gone beyond that. Chrome is a big unknown though, I tried to figure out what the overall margin might be but there are so many moving parts that I gave up!

Are you talking to me mags? I haven't changed my tune about anything. They had a pretty healthy cash position at the end of the financial year (end of September) of £725,000 which is pretty good compared to the previous year (£166,000) so there shouldn't be any immediate need to raise cash, hopefully enough time to see results from some of these projects. The company states in the annual report that they will need to raise cash within the next 12 months to continue operating but hopefully thats later in the year. The audited financial report is out today and on the website if you haven't seen it already.

Morning Dru. I probably need to read the RNS again with fresh eyes but I think it's likely that it was the same material that was mentioned in the H1 operational update. The problems with load shedding have been going on for a long time and I guess Jubilee was fairing better than most up until the recent problems with the grid instability / shutdown.

I do find it irritating that all of the calculations on the website are based on processing material of 1.5% copper grade and yet they have been processing material of 0.7%, that's well below even what they were using for calculations even in recent RNS's. The lack of clarity from one RNS to the next is frustrating.

On the face of it I guess you have to say it's a good deal, although we don't know how much cash went into securing the rights to the material. It should at least provide the cashflow to buy more high grade material and start to make Roan profitable. I just want to actually see it happening!

See... that wasn't so hard was it? Although with the number of boards you post on I guess you need to keep it brief!

Don't worry I'm still around! I just didn't feel like getting involved in the general melee yesterday thats all.

I see frog is trying to paint me as some kind of company cheerleader when nothing could be further from the truth. I put a lot of effort into researching the companies I invest in because this is now my job, so I take it seriously. If you want to call me a know it all then go ahead, it matters not to me. If people are talking their own book then I'm going to call it out, if you don't like it... tough.

How petty are you, wondering if the guy has had a night out or not?! If I was in Cape Town I'd be enjoying myself as well!

Every junior needs to raise cash to keep going, there's nothing different about Tertiary apart from it's very undervalued given the licenses it holds. Like any other explorer it's a gamble, they have assays due before the end of this month from Brunton Pass and there's also assays from FQM drilling at Mukai outstanding. We definitely don't have any assays due from BP though... I don't know where you got that from!

One thing I know, if you're not in it you certainly aren't going to win it, and placing or not, if one of those projects comes good I will be quids in.

Https://x.com/tertiaryplc/status/1887466970154479679?s=61

Good to see they were getting plenty of interest in the projects from the majors.

The problems started well before that, Mushinge started some baseless court proceedings knowing that it would stop Anglo from completing the due diligence on the JV. Arc eventually settled with him in order to progress the JV but in the meantime the mining cadastre was shut down for many many months for a clean up, this stopped the transfer of any licenses and further delayed the JV completion. All that time we burning cash and missing the opportunity to let Anglo loose on the licenses. Obviously they intended to do a cash raise at some point but were expecting (not unreasonably) the share price to rise on the back of the JV getting moving, then the Swedish pension fund decided they needed to sell up, forcing Arc to raise cash at a much lower price than they expected.

Still all of that is behind us now and the results some of us were expecting to see a couple of years ago are finally starting to materialise... onwards and upwards as they say!

They are on the list of exhibitors and they have an exhibition stand number. That’s according to the Indaba website anyway.

Tertiary were listed to be exhibiting at the Mining Indaba in Cape Town this week. It's a shame we haven't heard anything about it from them.

I doubt he is 'here'. Just look at his sad excuse for a posting history if you want to know what he's all about. I binned him ages ago.

That's probably the best interview Nick's done. I thought he set out the investment case pretty well. It would be very interesting to know who they are having meetings with!

Https://share.transistor.fm/s/96c08b01

I don’t think there will be any shortage of interest. The Zambian government delegation at Indaba was saying they already have meetings lined up with Ivanhoe, Rio Tinto and BHP, all looking for opportunities in the country.

Https://x.com/NavSeis/status/1886769569915609425

Here's the updated map with drill names and locations. The two drills at Muswema are 3 km apart so those results will be interesting to see.

Oh, I just noticed there are co-ordinates listed for all of the drill locations so I'll update them on my map. I can see that KKDD001 is in the Lumbeta area.

Looking at the drill names, there's KCDD002 at Cheyeza East, KNDD001 & KNDD002 at Nkwazhi, KMDD001 & KMDD002 at Muswema (so they managed a second drill before the rains), but also KKDD001. I wonder where that one is? They did mention drilling near Lumbeta so maybe it's that one but with a different name.

If I let my sentiment be ruled by the share price I'd have given up a long time ago! This is telling us that as well as a very significant oxide resource there is also a sulphide resource below it. Very little deep drilling has been done in that area so in my view it's very exciting. Still results from Muswema / Lumbeta to come and Muswema was the number one priority... maybe we now have two number one priorities!

From the Zeus research note:

"Arc today announces the results of the drilling by its JV partner in Zambia – Anglo American. Results from these early holes look impressive with significant highgrade copper (e.g. 7.7m grading 1.7% copper) or thickness (40.6m grading 0.6% copper); the latter are mineable grades as the Sentinel mine just to the east of the Arc/Anglo licences proves. Of the six holes drilled we are still waiting for assays from three so we expect more good news to come. This is an early stage of an intensive copper exploration strategy and we are encouraged today by the results in the RNS."