This is my last reply to PCS007, placing him on ignore due to...

This is my last reply to PCS007, placing him on ignore due to risk of being continually sucked into a discussion black hole caused by large empty brain cavity with a high density impenetrable core. No you were not right, it was not dilutive or steeply discounted and it was a huge fundamental boost to the company. Thanks for sharing your trading strategy Mr Belfort, I'm taking notes.

Tembo basically saved Nzuri. Copper was $2.20/lb, Cobalt was $10/lb. The former MD had health issues. Ownership was only 30%, progress was being blocked. Previous partner on gold project was looking for damages. So when you look at what they did, put their necks out and funded the company and a series of transactions to clean up the mess that was REGAL, it was well done, in my opinion and I was a shareholder, if you don't understand the issues then you don't get it I guess. The price pumped in the final days of negotiations with multiple parties thanks to port philip publishing. It was not dilution it was a rescue.

Second point re EUC and AVZ and promotion - no argument, but there's a very big 1 billion tonnes of difference between AVZ and EUC. Lets watch EUC drilling results closely and compare notes, its time for results. How much promotion does Nzuri need over next 12 months with the $10m in the bank - I doubt any. It has an ore reserve and a backer, just has to get on with it, no mystery or exploration risk, just exploration upside, a bonus. No cheap takeover, Tembo won't approve. No dilutive financing for mining, there is debt and pre-payment / steaming on offtake side. Eventually forward cashflows dictate valuation.

On dilution. EUC went past 28c and subsequently raised at 20c. AVZ went past 9c and raised at 7c with a free 10c option. This raise was less dilutive than those, specially considering the strategic interest involved compared to EUC.

On share price performance, its up to the buyers - if you come in to Nzuri looking for a cobalt trade, you need to find something else with more liquidity, because you will end up net 10-20% maybe - well if thats worth your time then so be it, all the best.