Member Info for Zebediah16

So the investment in a topdrive is paying off.

Assuming we have a gusher ( could be oil or barrels of liquid) there isn't much evidence of pipelines or storage tanks

confusion over Ezhik, but thanks

mm - its a chicken and egg situation innit. You are assuming that an offtake agreement, a mining licence etc, will be enough for the SP to rise to 2p. But its not a given, maybe the market would like to see actual mining, given the chequered history of GLR

So the plant hire people need to be paid, unless they are on 6 months payment terms. There needs to be some working capital raised. As soon as you start operating, you start spend money. $2 million a year works out to be $500k for 3 months working capital

Maybe a short term bridging loan will do , maybe Birdie will do the honours . Maybe he has got it covered . Dont know why you are chucking - you are only repeating what been posted so far

Ageos: Oh I see what you mean now . Bit slow today or as ever

Thats the advantage with a topdrive isn't it . You couldnt stack the pipes like that with a rotary table

is that really the full stack of pipes?

thanks very helpful

ZEN has invested in a drone - thats all the information that this tweet delivers

premature to say they screwed it up . if they did it would leak I'm sure

they just haven't advanced much from last Friday

A placing is finance at the highest risk level, where Banks usually refuse a loan

Banks will loan money if GLR have an offtake agreement. Banks loan against assets, but they also loan money to companies who have a solid business plan. Otherwise there wouldn't be much banking. To say that Star Zinc would be worthless without finance is a strange thing to say - what matters is the strength of the business plan.

It would be better to get a Zambian Bank loan IMO . It would be good to have Zambian bank invested in the future success of GLR. Any disputes along the line would be political in nature

But this is all up to CB and his cost benefit calculations. We wait and see

rns's are often issued when the market is closed at 7.00 AM. they also sometimes issued after hours on Friday

We surely should expect a tweet tomorrow because tomorrow is another day. At some point they have to tweet an update

an alternative to a placing is a bank loan once the offtake agreement is signed. This is perfect for a loan: low risk , stable cashflows, high margins.

The loan application would be a simple spreadsheet page :-)

cost of sales for the year $2 million
working capital 3 months $500k; 6 months $1 million

I think cost of sales is a generous figure given what we know. There is no other costs till mining starts

yes placing. Depends how much cash they have. CB seems confident but that could be leaving out important details as AIM CEOs do. No mention of any beneficitation plant to be installed, just hiring a mobile primary crusher

Distance from Kabwe to Sable is 100 km by road.Thats 4 hrs round trip for a truck 2 trips a day. So hundred tonnes a day , thats 2 trucks (at 30 tonnes per load). Doesnt seem like much. As long as JLP pay monthly it should work out
Strict 30 days!!

The difference between the 21 Aug and 26 June RNS may not seem great but it is crucial

This is a process of QA/QC where all drill hole data, core samples and geological inferences are rechecked. There are 52 holes drilled and lots of sample data. If you have been with GLR from Concordia days, you may recall that the project failed at this second stage, where an initial estimate could not be validated

tiger
yeah I got the impression that it would be visual - " selective mining" and all that . You know it when you see it , you cant miss it!!

CB also mentions other prospects as well. He mentioned Glenover and Ferber interestingly Right now of course Star Zinc overshadows everything

worth listening to - starts around 17 mins .

Colin keeps emphasising the ease of mining. High grade willemite is "easily discernable" ( I assume visually) and reduces the total tonnage that is trucked to Sable. A kind of beneficiation process that doesnt cost anything

" While in-house attributable revenues are projected at about USD15 million annually at current price"

I read the revenue figure as what GLR should get , as a net figure. $13 million is of course a gross profit figure , excluding taxes, direct wages etc. But even wages will be minimal if its all contracted out. I would assume the mining would not be so simple after a couple of years and costs may increase. But it does feel very frontloaded.

But GLR should be on to Kashatu next, and we should be hearing reports of this prospect . Thats enough to keep investors interested

"This includes approximately 340,000 tonnes at 21% Zinc for 72,000 tonnes of metal above a cut-off grade of 8%."

Dont forget there is an element of frontloading. Higher grades go first. Does anyone have any idea of the estimated development costs for Kashatu?