Member Info for SlurmsMckenzie

Thanks for the insight chaps, this is only my second foray into industrial metals, after tarnishing my non existent rep with a few potash companies (yes that one and a couple of aussie ones). Variations between industries are to be expected I guess.

The main takeaway from the email is ""Our target completion date for the full project finance package remains to be by the end of H1 this year." Talk of later in the year seemed to have spooked people more than any offtakes news.

My point being Anne might have assumed the key concern was the split between equity and the lenders, and that's the big bang that's coming for an announcment.

If there's cash for offtakes then yes they're part of the package, but like I say it's not really a direct answer about offtakes.

This is not a hill I'm willing to die on btw just raising an alternative point of view.

Thanks for the reply was.

Most other investments I've been in have announced offtakes seperately to finance and before.

Neither the email or the response specifically mentions offtakes, I think there's been a leap taken here.

I'm not seeing anywhere that off takes are part of the finance package.

I know it will be dependent on having sales but it's not clear enough to me.

I've tried to come up with something for the list but you guys are too good, got everything covered.

So I'm going to come up with some new b****cks

If in doubt just remember A.R.C

A = Anglo American (due dilligence complete, they're not fannying around)
R = Rothschilds (these people won't get out of bed unless they smell a deal in the region of hundreds of millions)
C = Copper (start of a strong bull cycle possibly even super cycle and we have it).

I thankyew.

ps wouldn't want to be out of this for the next few hours.

"Zamsort retaining Cheyeza and Muswema"

That's the main thing, I eyeballed it and came to the same conclusion, and of course that's where the deeper drills are planned.

Losing 50% of the license area might have nothing to do with our friend Mush it might just be part of zambian law upon renewal, or we could be Afrimin.

Confirmation would be nice.

Although there's nothing to worry about at all.

Not until I confirm we have the good bits.

https://portals.landfolio.com/zambia/

If people search for Afrimin and Zamsort on this, you'll see what is meant, obviously helps if you remember what the old license area looked like.

I concur SeisNav it's like it's been split with half in Afrimin.

"I have more faith in Prestige Worldwide (wide wide) than I do Golden Square."

I should clear that up, in case it's a bit niche.

That's the fake company from the film Step Brothers.

Golden Square are just a bunch of chancers, their website it's paragraph after paragraph or corporate balls, that doesn't really go anywhere or lead to any accountability.

I have more faith in Prestige Worldwide (wide wide) than I do Golden Square.

Anything to do with Zambian mining law giving a max of 10 years for exploration licenses?

I had a bash yesterday at seeing what was in which mining area based on the mining cadastre and the presentations as far as I can tell Fwiji is in the Zaco license area

The injunction as reported but not verified would be against zamsort.

People have a right to know why the change of plans in terms of raising equity.

FOr the drilling

Not the acquisition.

After rereading the RNS and listening to people on this board I'm of the opinion that the company *has* told us the reason. It's further deeper drilling than they would have done previously. This is not a problem for me and it's quite exciting going forward.

However not for the first time, we've been left with an RNS that could have been a little bit better in getting the comms across.

It's not a new opportunity that the money is being raised for.

It's for drilling.

I don't think anybody would see raising cash for new licenses as deceitful.

And fine if it's to drill deeper , wider or into a hypercube if you must but at least tell us why the plans changed from 2 weeks ago when you were saying the company was fully funded for drilling.

It's not often I take the contrary side to F29 but I agree he (Meyer) has a point, and he's not the only person to raise this point.

I'm remaining invested but people just don't want to address the elephants in the room.

The company should explain why they've gone back on there statement and they should speak up about CASA.

(I do agree with the sentiment that Meyer should maybe have tried to get that info considering he actually works for SP Angel).

The only explanations i can think of is perhaps either they were dependent on CASA after all, despite what they said or a lot of money is going to the Rothschilds and various other.

I'm weighted towards the latter.

Maybe but then we've been promised another placing.

I'm generally supportive of ARCM

But it seems like there's been a sleight of hand involved here.

Misdirection to acquisition, whilst the other hand raises funds for drilling, which we were told wasn't needed.

Hi Westie,

The part time status is a good point given there were concerns about the cost of another exec.

I think there were concerns from another poster about NED Kelly being a replacement for Hayden as well which isn't the case. Different roles and a skill set that should help Hayden.

RedRoy - unfortunately I suspect you're right. Eml just not big enough.