Member Info for Zebediah16

this 2000 hp rig from Ali Baba says it has a top drive. All yours for USD 1.2 million. They even have a volume discount if you buy 10. I would have seriously considered this and if I was AC I would have taken a professional oil engineer to inspect the manufacturing site

B Robotics looks like a workshop, albeit a largish one. I think they are a service and refurbish outfit, thats why they took so long to do this rig. It has got a shiny new coat of paint but I suspect the profit margins on this order are huge. Or they are inefficient which is also a possibility. I think AC did a disservice to this company by keeping all things Italia

https://www.alibaba.com/product-detail/supper-professional-oil-drilling-rig_60679928166.html?spm=a2700.7724857.normalList.17.36057ae4aWwiIn&s=p

Dont really mean a lot tbh . Maybe he is averaging down and in too deep

Really disappointed in this effort by B Robotics so far. A poor show. Not sure what was gained by a using an Italian supplier, other than a desire to help the Italian drilling rig industry. I wish we could verify whether ZEN got value for money

I'm sure its AC's personal charm and suits that swung the deal. He is good at this - everything but the company prime mission

They must have known or decided about this about 2 weeks ago. Thats when the pace of events at C37 seemed to slow down

or alternatively AC was clueless. This is where you need a oil industry CEO

about assembly of rig were misleading IMO. This is not a sudden decision that they took today

yeah there is a discretionary element (see item g), but still the formal requirements dont look too difficult. No formal JORC type resource statement required which can be returned again and again becasue it is incomplete

the requirements for a small scale mining licence dont look that difficult

http://businesslicenses.gov.zm/index.php/license/details/id/178

Completed application including the following
(a) A copy of the relevant prospecting permit
(b) A description and sketch of the area of land over which the small-scale mining licence is sought
(c) The proposed programme of mining operations including a forecast of investment, the estimated recovery rate of ore and the applicant's proposal for its treatment and disposal.
(d) A description of the mineral deposits in the area over which the licence is sought
(e) A statement of the duration for which the small-scale mining licence is sought .
(f) A tax clearance certificate issued under the income Tax Act.323
(g) Any other information as the Director may require

yeah I also made up my (hopefully paper) losses here with Bloc. Sold too soon though, the story with Zen is yet to play out.

I cant believe that they need a £400k piece of kit just as drilling was expected to start, something that Robotics had lying around. Are they going to airfreight it over? Will it really be delivered in 2 weeks?

https://www.galileoresources.com/kashitu_glance.htm

Kashitu is situated in the far south-east corner of the Kabwe Large-Scale Prospecting Licence (EPN 6990), 7 km SE from the historical Kabwe Pb-Zn mine area, and immediately adjacent to and South of the town of Kabwe, in Zambia. The prospect occurs just to the west of the Kashitu Dambo.

"The Company has embarked upon a fast track exploration programme with the intention of increasing the tonnage of raw ore at similar grades (20%) to produce a contained zinc resource in excess of 200,000 tonnes. "

thats from the website. So according Colin thats 14 months feed for Sable ( at 150,000 tonnes / year). So thats all GLR has got to sell

I guess GLR can make it profitable/ attractive for Sable for 12-14 months. After that the ore percentages supplied by GLR begin to decline. Or maybe not. Or maybe this is an initial agreement and new terms will be discussed in 12 months . Who knows

Star Zinc and Kashitu are two separately delinated resources, are they not? CB seemed to really suggest that they have done all the work necessary for JORC, and the process can be "fast tracked" from now on. They have what 5 - 6 months?

Regarding £2million maybe somebody did the sums based on what they knew at the time

There is no doubt Colin needs raise money. It seems for Colin, Kashitu is the new Concordia. He needs to pivot of this supply agreement to raise capital to develop Kashitu. Maybe 12-14 months will do it. Thats IMO

No doubt this company is skating on thin ice( if that is an inapropriate metaphor for Africa) but he seems to be at home in this environment

Regarding JORC, Colin says he has drilled 50 holes and that gives a pretty good resource definition. Maybe there are some additional steps, but the capital outlay behind drilling seems to be over

Then there is the mining licence to be applied for. Maybe thats a problem area. Assume the mining equipment and trucks are on a plant hire basis. So no major capital requirements if everything goes to plan. So where does the £2 million come from?

what isn't clear (to me atleast) is this business of supplying the Sable refinery for 14 months. After that what happens?

always look kind of dodgy

why would somebody be buying 75k shares in pairs

maybe the 2 million one yesterday was a bed and isa but it looks kind of expensive

wow 3.67 paid

AJB hope you are walking the dog as well !!! Group effort

*have all*

so who walks the dog when you are here gazing at your investments

Hmm I think anticipation of funding requirement is holding things back. Surface mining to 60 m with no blasting - looks like GLR needs a big truck and big digger. Whats the distance between the Sable refinery and Star Zinc ?

Can these be leased? Do mining companies really buy these things?

That truck is rocking from side to side

https://www.dmt-group.com/fileadmin/redaktion/images/services/engineering/Mining-Engineering_Digger-DMT-Fc.jpg

Twitter is great at timelines. Substructure unloaded at c37 on the 29th of March. Thats a full month assembling this rig

Not spudded yet . I am sure an RNS is imminent. Imminent I tell you!!