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3.57%

27.0¢ nzuri copper limited

Ann: Monwezi returns positive Copper and Cobalt results, page-53

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El Jefe

6,058 Posts.

875

04/02/18

20:56

Post #: 30810277
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Originally posted by mineralised ↑

- The extra 5% will come from shares in Kalongwe mining co which means we will go down in proportion with GICC, so not 80% but more like 80.9%, plus I expect GICC to convert their balance to nzuri shares once the mine financing is executed

- The Ivanhoe clawback applies to the JV exploration ground which is adjacent to kalongwe mining license, so no clawback on the kalongwe project itself (and it’s 302kt contained copper today by the way)

- Changes to mining code have been anticipated since 2015, just not a profit based sur-tax. All companies operating in finance, mining, processing have priced this in prior.

- Huge difference between this situation and TZ, which was 20% govt equity, 50% local ownership via TZ stock market, 6% copper royalty and a ban on concentrate exports. The changes DRC have made are still in line or under many jurisdictions, except the sur-tax.

Still waiting to see it signed by Kabila and read the detail / fine print to do my math, not relying on a sound bite passed around by western media.

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Ah yes of course.
Thanks for clearing that up.

NZC Price at posting: 33.5¢ Sentiment: Buy Disclosure: Held
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