The chair of the meeting, Adam Smits (AS), jokingly said it...

The chair of the meeting, Adam Smits (AS), jokingly said it couldn't begin until I turned up.  Nearly late but for me and the other attendee, other than, BOD (Apologies TB, MA, PR) and legal folks, an informative 45 minutes.
My notes are a bit chaotic and limited so the comments below are worth checking with a phone call or email to the company if you feel any clarification is needed.

Recent ASX queries (?AVZ in particular) are having an impact on information flow from companies especially through non authorised sources.  This was mentioned a couple of times and probably applies to meetings such as this where a slip of the tongue can bring unwanted attention on a company.  Hopefully none of what I post below rates in that category with a couple of edits made.

There wasn't a presentation as such rather a series of photographs of the infrastructure (camp, fences, culvert pipes etc) and a new conceptual video that shows modifications made as a result of the DFS - Some of the photos have been posted previously on HC and the video, which has some variations from a previous one, is or will be available soon.


My main takeaway from the meeting was that the company is trying to be as prepared as possible for when funding (if ever) comes through to go to construction and ultimately production.
Not much different from previous meetings but the impression I get is things happening relatively soon rather than a lot later.

The other SH asked when that might be?  No comment - as would be expected.

Adam did mention a rough build time of around 12 months and 6 months for ?equipment (didn't ask what that entailed leasing trucks?/dms? etc??).  Nor if that would be 12 months or 18 months though I would suspect the former.

PREPARATIVE WORK
In terms of preparation it falls into three main areas on the ground - Access, communications, and accommodation.
Most of these have been covered before but most will probably be completed this year.

ACCESS: They are fine tuning (govt approvals, land owners, etc etc etc) the planning for 28 Kms of 8m wide laterite all weather road from a carefully selected junction on Ivanhoe's property. Good relations with IVN and have been granted? (don't actually know this- sounded positive) access rights across Kamoa Tenements.


The Minister responsible for approving the road has apparently been on a site inspection.
As part of the 2017 budget they brought in piping for the many culverts that need to be constructed.  They hope to get it completed before the coming wet season.


COMMS.
Currently no phone or data access at Kalongwe -(probably satellite but not mentioned).  Construction has just begun (photos of footing holes 3 x 3X3X3m or so) for a comms mast on a hill with line of site to Kamoa/K.  This should provide high speed data links and phone when complete.


CAMP ETC
As with the other two items above getting a functional camp up and running for a construction crew of up to 250 max. will mean that when a funding and construction decision is finally made they won't have to wait for these to be built.
The photo showing the mess facilities doesn't really show that one of the sea containers that seem to be supporting the roof is actually a fully equipped kitchen facility that should be capable of providing meals for the entire construction crew of 250 (AS).
Water: original 1000l upgraded to 20Kl tanks - sourced from the river with appropriate purification.
While not part of the camp the Fence is progressing slowly and steadily with labour from local villages.  They hope to minimise access by artisinals and unauthorised folks.

Mine Site/plans.

The DFS identified an 8 year initial LOM vs a previous estimate of 5.  This increase plus the need to keep the site compact but allow for possible future expansion (read phase 2 SXEW)  has lead to some redesign work.

Lycopodium feed work progressing well and there could be an update next month.

The term EPC came up several times and may be quite an important step towards enabling finance.  Not something I understand.

Very roughly:
Stage 1 value estimates 80/20 Cu/Co
Stage 2 value estimates 50/50 Cu/Co


EXPLORATION
Drills moving back to Monwezi 2 after a short program at Mamba.
One target at M2 will be the potential updip projection of the carrollite bearing vein - quite optimistic from the approximately 200m down hole depth in DKAL126  (some 150+m to near surface).


Adam stressed the word potentially - if it works out great otherwise tech success.
Hole 125 could add a few meters of strike potential to the SW.  The comments about 126 and structurally controlled mineralisation IMO suggest traces to sub economic.
From an earlier post of mine on Mon 2.

A grader is needed to restore the Kasangasi road after last wet season.  Next drill site following Mamba to Mon2 I believe.

Since drilling at Kalongwe SW even during the wet this will be left until later.

As Mineralised has mentioned there isn't any ground available to be pegged at the moment.  According to AS this is because the World Bank conducted a regional aero magnetic (+-?) and have somehow locked up  the ground for the time being.   NZC asked for access to this data but were refused and chose to fly their own MUCH higher resolution survey.


SXEW sounds like it can "hoover" up these smaller deposits, tailings from DMS, high grade stock pile to produce a feed stock of some 10-20% concentrate.  

Geology
At Kalongwe there are multiple mine fragments compressed together by complex structures (AS paraphrased).  This may be relatively unique in the immediate area and possibly explains why this is the largest deposit (my thoughts).  Passing comment that came up when mine fragments were mentioned.

KOLWEZI CU/CO PLANTS
AS mentioned 4 plants being constructed in the Kolwezi area in addition to existing? plants at Likasi and Lubumbashi.  The latter two were initially being considered as a destination for mine concentrate but it looks increasingly likely that the  shorter (~80 Km) haul to Kolwezi may prove a more economic option.

AS commented that the Chinese built plants have "small front ends".  I gathered he meant they were NOT suitable for most run of mine ore but rather designed to handle a concentrate from the kind of operation NZC plan to build.
Initially these plants (AS) most ore would be sourced from ethical artisinals but during the wet such sources may not be available so a steady supplier could fill any gap.





CORPORATE
There was a 3 month hand over period for the incoming/outgoing CFO/secretary.   

Employee incentive options (1Gun Trader basically I asked the question you posed) -  part of the salary package for both AS and MA who did not receive upper end Annual salaries when signing on.  The vesting nature over time also makes such options less open to "abuse".

Didn't ask about legal issues.

DRC mining code and Cobalt price decline mentioned as a couple of obvious negatives.   Risk associated with the Congo perceived vs real - definitely exists but up to individual investors to decide.
The new CFO is going to visit DRC soon which is something her predecessor didn't get to do.

NEWSFLOW??

Hint about the flow sheet from Lycopodium in the near term from AS.

I imagine there will be relatively steady updates on the drilling and periodic releases of assays from that work.  Should be fairly soon for DKAL126 - carrollite hole.