Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Haven’t we got palladium, nickel, rhodium and gold and aren’t we next door to Ivanhoe Platreef mine !
The latest financial Jz states:
The project shares similar geology to Anglo American Platinum's Mogalakwena Mine, the world's best PGE mine, as well as the adjacent Ivanhoe Mines' Platreef Project, where shaft sinking on two shafts is progressing to a depth of in excess of 980m.
It stated that recent increases in the prices of palladium, nickel, rhodium and gold had resulted in the weighted price of the basket of metals contained in the ore of the company’s Platreef palladium/platinum/nickel/copper/gold/rhodium project, in South Africa, increasing to a new, multiyear high.
Palladium, nickel and rhodium have been three of the best performing metals this year, said Ivanhoe.
https://m.miningweekly.com/article/record-palladium-spot-prices-to-benefit-ivanhoes-platreef-project-2019-10-17
The latest financial Jz states:
The project shares similar geology to Anglo American Platinum's Mogalakwena Mine, the world's best PGE mine, as well as the adjacent Ivanhoe Mines' Platreef Project, where shaft sinking on two shafts is progressing to a depth of in excess of 980m.
We have depths of 30m open pitiable! Surely something must be going on in the background
Again in the latest financials:
“The high nickel and palladium to platinum ratio in the Platreef mineralisation, found at shallow depths, coupled with the increase in nickel and palladium prices over the past 12 months, make the Zebediela Project an exciting Ni-PGE targets. “
That’s my thoughts ofd. As I read it they have up until the 4th October to submit the following:
o Signed shareholder agreements
o Share certificates and shareholder registers;
o Articles and memorandum of association of the company;
o Provide detail in relation to the theoretical full funding of the mine; and
o Any other agreement or document relating to the agreement;
- and commence with environmental studies in order to obtain the requisite environmental authorisations that accompanies the Mining Right.
According to the DMR
A mining right may not exceed a period of 30 years.
A mining right is granted if:
* the financing plan is compatible with the intended mining operation and for the duration thereof
* you have made financial and other provisions for the prescribed social and labour plan
How long does it take:
* If your application meets all the requirements, the regional manager will notify you in writing within 14 days of receipt of the application if it has been accepted.
So by my reckoning no later than the 18th of October (14 days from the 4th October) we will have a mining license obviously pending the submitted information is acceptable which tbh I cannot see why it wouldn’t be! This includes financials. If it’s not acceptable the same applies :
“If the application is not successful the regional manager will return the application to you within 14 days.”
If the Minister refuses to grant a mining right, you will be informed in writing, within 30 days, stating the reasons for the refusal.
https://www.gov.za/services/mining-and-water/apply-mining-right
Will we be notified on or after the 18th October? You decide :) I suppose it all depends on the outcome !
I see South Africa open for business imo so I don’t see a problem!
Ccc March YE17
Page 20/24
17. SALE OF NIKETO CO. LTD.
On March 15, 2017, the Company sold all the shares of its wholly owned subsidiary, Niketo Co. Ltd. for
7,068 44,905 88,882
proceeds of $100,000. As at March 31, 2017, the $100,000 of proceeds have yet to be received, in the amounts receivable and prepaid expenses balance on the statement of financial position.
and is included
https://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00020118&issuerType=03&projectNo=02655005&docId=4156257
Well we know Niketo is owned by a Cypriot company Mr Zorbas? The same address as Alegana same as Corrales Trading same as a few more ! The question is did the money get paid over and who actually owns who ?
Niketo (JZ) own URU shares or do Ccc ?
The sale of Niketo took place on 15/03/17 and according to the link below transfer of shares took place on the 26/7/17 and 15/02/18 within Niketo so who knows what that was ?
Ii it this part which could mean it’s the case ?
“John Zorbas has a beneficial interest in 15.18% of the share capital of the Company, indirectly through Captor Capital Corporation.”
https://opencorporates.com/companies/cy/HE262330
I get what you are saying ofd as there’s quite a few scenarios to consider?
Say they go down the route you’ve suggested, they would still be trading in the US so still own shares in URU? Maybe they are trying to distance themselves from the elusive one and preparing a deal to that effect?
The other option is JZ owns Ccc shares through Niketo some how ?
Don’t forget we know Niketo is a Cypriot company (as stated in Ccc accounts) and yes same address as the others but with Niketo only been a subsidiary / Holding Co of NWT all shares owned through Niketo were kept within the parent company NWT (Ccc) hence why Ccc still own the same amount of shares they did back in March 17 through Niketo (118,511) !
Page 8/24
Niketo Co. Ltd. (1)
Registered Republic of Cyprus
Principal activity Holding company
Latest shareholder dated 23/07/19 states :-
Captor Capital shares 118,511 15.8%
* John Zorbas has a beneficial interest in 15.18% of the share capital of the Company, indirectly through Captor Capital Corporation. John Zorbas exercises control over Captor Capital Corporation due to his position as Chief Executive Officer and his shareholding in Captor Capital Corporation.
All Ccc business is in the USA ( hence Mr Rogers new role) don’t forget the reason why Cannabis start up businesses began to trade with the Canadian Security Exchange (CSE) including Medmen as that was the only legal platform to do so at the time ?!
All speculation until we finally do get to know ! ATB
Information is information Anto so if it it helps all the better people can take it or leave it :) You’re most probably correct Anto in regards to the change of accounts maybe they are trying to start a fresh ?
I’ve been told that Ccc are expecting to have the information to the CSE in the next few weeks but don’t know when the CTO (cease trade order) will be lifted So make your own mind up on that ?! To clarify that’s not come from Gavin which as you’ve said seems to tell you what you want to hear !
It does seem more to it than accountancy issues imo but does that have to be negative ?
Interesting times ahead ! ATB
No problem Anto , nobody actually knows why Ccc is still suspended but the longer it drags on the more talk there is but it’s hearsay that’s all !
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS December 2018
Page 15/19
Professional fees
Business advisory fees
Share based compensation
https://webfiles.thecse.com/sedar_filings/00020118/1903011705351551.pdf
Yes I agree Anto news is due,not sure whether it’s over due in regards to the mining license as I read it that’s the 18th but yes drills again as I read they have finished and as you’ve mentioned the quote from the RNS Dtd 30/8 it does tend to point in that direction?
You would have thought before submitting the licence application those results would have been quite important to which direction we decided to go!
The latest presentation is nearly five months old so again finance news should not be far off, especially everything should have started by now along with the recent:
“Proof of Concept with potential declaration of a JORC-Compliant Resource”
This started beginning of September and ended at the start of October so I cannot again see how this can be accomplished without the latest drill results.
“The JORC Code provides a mandatory system for the classification of minerals Exploration Results”
“Public Reports prepared in accordance with the JORC Code are reports prepared for the purpose of informing investors or potential investors and their advisors.”
http://www.jorc.org
In regards to Ccc unless they can prove that work is on going and the CSE are satisfied, in another 30 days they will be delisted but it can be extended another 30 days as per my previous posts. Not sure what’s holding that up if it’s only accountancy issues! Maybe it’s the $9m in professional fees that needs explaining?!
MRS second creditors meeting should have taken place with an update regarding their finance package to decide whether the Board will seek to agree a Deed of Company Arrangement with the Voluntary Administrator.
So yes there’s quite a few news updates to come.ATB
So we have the possibility of news this month / this week on the mining license, dare I mention the 18th October been the possible cutoff !?
Not only that according to MRS RNS dtd 16/09 we should have some news on the second creditors meeting which should have taken place between the dates of 7th -14th October ?
“If the re-financing is successful, the Board will then seek to agree a Deed of Company Arrangement under Australian law with the Voluntary Administrator, by which control of the Subsidiaries would be returned to the Company following a vote at a second creditors meeting which typically takes place in the next 3-4 weeks.”
Thanks Y000 that’s interesting so it confirms a few things, they are still an investor hopefully a 8.48% BEE partnership so that ties in to my question who is going to make the rest up ?
Indeed very interesting times ahead. Thanks again ! ATB
In regards to the BEE partnership
New rights: applicants for new mining rights must have a minimum of 30 per cent BEE shareholding comprising: a minimum of 5% non-transferable carried interest to each of Qualifying Employees and Host Communities, and a 20 per cent effective ownership to BEE entrepreneurs (5% of which must preferably be owned by women). The “carried interest” is essentially a free carried interest but arguably permits notional vendor financing without any form of security”
As far as we know we have 8.48% BEE partnership who is going to make up the remaining 21.52% as per the MSA report ?
You would have would have thought to obtain the mining license the BEE structure has to be in place ? This was one of the major changes with the new Mining. Charter as it went from 26% ownership to 30% !
It could be either Anto imo I cannot see how we can raise circa of $1m for the mining licence other than introducing a partner or an outright sale ? It looks either way Umbono will be playing a part in it somewhere? Other wise why have we stipulated the terms for them being involved going back to April 2017 if they are still not applicable?
I read it that Umbono were employed for that very reason regarding our future development?
“services including project management, coordination of mining rights application, mineral rights management, finance and accounting, technical, metallurgical, engineering and geological services and corporate finance and capital raising”
Just staying on Umbono according to the report by MSA back in 2014 they state the following.
“Ultimately, if all activities occur as scheduled, URU will apply to convert its exploration licences to mining licences early in 2017. With that in hand, the development timeframe required to move into production is expected to
be about 24 months. Whilst Umbono Capital as an URU shareholder provides significant BEE credentials and technical support to the project, URU would like to see the project’s BEE ownership extended even further. That said, URU is on the hunt for suitable partners and recognises the importance of fulfilling this South African regulatory requirement at a grass roots broad-based community level as well as through the empowerment of new entrepreneurs. “
I do believe if the world base Metals prices hadn’t had declined like they did we would have stuck to those dates which I have said previously but I think this article is possible more relevant now considering the next stages especially raising finance etc ? MSA are still our “ competent Person.” according to our website
So if we are still thinking of extending our BEE partnership even further I wonder who that could be and when ?
http://msagroupservices.com/news_uploads/zebedeila.pdf
Ofd if you recall I mentioned previously that the 90 days can be extended if :
will extend the period of suspension for an additional 90 days if the Exchange is satisfied that the Listed Issuer has made progress towards curing the default or breach that gave rise to the suspension.
In regards to delisting :-
4. Delisting
4.1 Following a 90 day suspension the Exchange will, without any prior notice, delist a Listed Issuer’s securities unless the period of suspension has been extended in accordance with Section 3.2(b) of this Policy.
In regards to Ccc losing their shares they are still trading in the USA on the OTC market so that cannot happen as they will still be listed in the US
Cease trading order stated:
“all trading in the Company’s securities has been ordered ceased, subject to certain limited exceptions for trades outside of Canada.”
“Captor Capital begins trading today on OTCQX under the symbol “CPTRF”.
Upgrading to the OTCQX is an important milestone for Captor, one we have worked hard to achieve as we continue to implement our long- term strategy to enhance shareholder value," said Captor Capital CEO, John Zorbas. "The OTCQX will provide Captor with increased liquidity and exposure to existing and future U.S. investors, while giving those investors an opportunity to participate in the long-term potential of the lucrative cannabis market."
https://webfiles.thecse.com/sedar_filings/00020118/1903180602119121.pdf
Thanks jimmy everything is good now but it certainly puts things in perspective and makes you realise what you’ve got :) health is wealth !
Certainly pivotal times here and exciting too, abundance of news to come yet including the drill results, I’m expecting those to be pretty spectacular!
“newly discovered Ni-PGE resource found adjacent to and in the footwall of the existing nickel resource."
You have a good day as well ! ATB GLA
I surrender, believe me I’m reading your posts correctly I don’t think you are ready mine correctly ?
You were not Initially referring to whether or not we should get an RNS regarding they have submitted the latest information required for the completion of the application you were assuming all the information was submitted on the 30/8 hence surmising the deadline was the 29/9 and still no news ?!
You are putting information out to try and spook people saying that we should have had news by now ! Not a necessity imo I’ll be happy once received the licence !
Comments like “cooking the books” etc !
As I’ve said before we are not MRS we are just your major shareholder.
Jono
You don’t know when the dmr received all the information for the application??
How can the DMR accept an application and decide on the outcome without “satisfactory completion of all regulatory requirements by the Company.”
The material information required has to submitted at the latest the 4th October
As stated in the RNS 30/8
“The DMR will now process the application, and the Company looks forward to receiving the mining right in due course subject to the satisfactory completion of all regulatory requirements by the Company.”
You can keep telling me your assumption dates as much as you like!
I don’t know if they will issue an RNS regarding an update that’s not what’s I’m referring to !
Yes it would be fantastic if we do but I’m quite happy to receive the mining licence either way all is good !
Maybe the mining application got submitted on the 26th September giving 14 days for acceptance so that takes it to tommorow for news ? Hence the big buys ?
This is again is assuming the relevant information got submitted on the 26th September!
My point is nobody knows when it did apart from the ones who do !
What I’m stating is that the 18th October is the last day for us to be notified for approval as long as information has been submitted!
I know I said it was my last post on it but there you go :)
In regards to RNS’s MRS win hands down with that! It’s one of the reasons as I mentioned previously regarding your RNS dated 27/9? It all costs money !
How many would you count as important?