Ann: Processing Facility Update - Ore Supply Agreements Executed, page-93

Oz Quote
Q: Funny that, plus a little presumptuous. Why are Winmar planning to mine something that there is currently no evidence of existing, ie a copper cobalt resource??

Q: Surely the company needs to provide some evidence that a resource exists, before any thought of mining it!!

A: The Company had executed two binding Heads of Agreement with Congolese companies for Winmar to acquire 100% interests in 6 granted and contiguous Exploration Licenses located on the DRC Copperbelt and in close proximity to the Luapula Processing Plant.

A: During the Quarter decided not to proceed with one of the license acquisitions.
The remaining 5 licenses extend over approx. 500km2 are underlain by the main Roan Group which is the host to a number of large sediment-hosted copper-cobalt deposits located along structures to the west and east of the license areas.

A: The licenses are at various stages of exploration and development, with historical exploration activities including airborne geophysics, geochemical surveys, detailed geological mapping, trenching and pitting and both RC and DD drilling programs. Historical work has defined several project areaswhere the Company’s consultants have proposed further activities. Winmar aims to undertakeresource definition work, including metallurgical bulk sampling and mine planning to establish a JORC (2012) compliant resource.


Oz Quote:
Q: Why does the company want to mine their own resource if this model of buying outside ore is meant to be so profitable?? Something does not make sense to me

A: Ore Purchase Agreements in place for an initial period of 12 months, with an option for the Company’s recently established joint venture company, Winmar Lufira MiningCompany SA, to extend by a further 24 months

A: The Ore Purchase Agreements are proposed to supply 100% of run-of-mine feed to the Luapula Processing Facility until the Company has completed mine planning and feasibility study work on the several exploration licenses that it is also acquiring in close proximity to the Luapula Processing Facility and which are considered suitable to supply longer term run-of-mine feed

Oz Quote:
Q: Anyone consider that it is possible the company deliberately contracted more ore supply than needed because they suspect some might not pass the KUMI audit??

A: Yes , I think every single shareholder here thinks its a very good idea to have to many Ore supply agreements. We all know @KumiConsulting must now do there job and Audit the sites ( You would also be a fall if you thought @KumiConsulting had not already been advised perviously about them !

Oz Quote:
Q: 2.5% copper AND 1% cobalt grades in the contracts sound great, to me it is obviously pre-concentrated using artisanal miners. I have no problem with this, but the biggest question is COST/tonne delivered to the company, something there is no mention of.
The single most important piece of information has been left out of that announcement, yet people are prepared to make outlandish predictions of SP multiples, without it

A: Handwritten signs at the buying houses in Kolwezi show the varying prices offered for a ton:
"3% = $500" and " 15% = $7 000". @ozblue ill meet you halfway here buddy , I personally know off many different prices paid for the (ASM) feed that WFE have contracted . The above prices are from when the LME Cobalt price was nearly double todays value. It would be fair for one to presume that the ASM feed would of dropped considerably along with the LME price yeah !

A: I can imagine WFE will be keeping this figure close to there chest mate , why advertise to every mug out there what deal you have managed to pull off ! Never seen that happen before !

Oz Quote:
Q: IMHO it is holders that people should pay not much attention to as they have a definite motive to ramp a company. I have found that the best most independent information often comes from people that do not have an interest in a company. It is one of the reasons I don't post much on shares I hold anymore, I'm biased toward them.

A: What you talking about Willis Lol !

: Oz , I think your post was the perfect example why ( Not ) to always listen to non holders mate. After two sentences in it become obvious of 1 of 2 things ?

: You either ( Accidentally ) chose to cherry pick parts of the last announcement , and then you chose not to read this announcement in conjunction with past ones.

: Or you purposely chose to mislead this thread by not including or the relative information that was easily accessible in the old announcements.


OZ Quote:
Q: I have found that the best most independent information often comes from people that do not have an interest in a company

A: I have found the laziest, least researched and most likely ( As Proven ) to not read the entirety of company announcements , then include all announcements as one to come to the obvious conclusion You guessed it , Non Holders For what reason they will over ever know !


I am 100% backing @ozblue and any non holder to have there opinion on this thread , that is not the point of this post !


Ps. My personal opinion is they will use the funds from the artisanal feed ( To become cash flow positive fast ) and to at some stage increase the throughput capacity of the Production Plant , all while proving up the above 5 ( Various Stage of exploration development ) Cobalt Leases. The perfect plan in my opinion !