The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Full year report due before end of June.
Interm revenues will likely appear in RNS in quarterly updates or when received.
We haven't received any revenue in 2024 yet but are aiming forn$1m this month and a lot more next month
Everything seems to be progressing really well in terms of operational updates but when can we expect some firm numbers to back up the good news ?
No worries Tebbin.
The youtube video I linked to the indaba #MARU presentation was the whole 8 hour presentation. Here is the 20minute Jason Brewer section
https://youtu.be/UiiDQpaqghc?si=Qb0LrGWeYYlljxAv
He talks about Blesburg lithium mine from around 7 minutes
Here is the presentation he is using
https://marulamining.com/assets/files/2024/presentation/Marula_Corporate_Presentation_May2024.pdf
A lot of talk about first revenue from both Manganese (the mine was invested in 3 months ago) and lithium before the end of May. The profit margins sound eye watering (on lithium) as the byproducts should more than cover all operating costs
My thanks to andii for his many great posts. The time has come with the progress of the many excellent projects, to be a big fish in a big pool.
Niceone andy thankyou
The video presentation condensed into 5 minutes
https://x.com/MarulaPlc/status/1793539526423621655?t=yuIpIcxgf6EMeOM7osaoGA&s=19
Definitely needs more exposure ,that may come with shipping and revenue.
Maybe Q and JB will make the move to a large Exch. instead of empty promises. Then the more richer Investors will drive the SP to the level justified by the projects.
Jason doing a presentation today
https://www.youtube.com/watch?v=Jh6qbpqGPNI
Manganese sales complete by end of this week-
250-500kt per annum target
9km strike, less than 2m deep
looking to join 3 smaller pits into 1 big one 1-12m deep
- sea freight costs out of Mombasa have fallen dramatically
Copper – Kinusi (Tanzania)
Just over 1km strike – 20m wide
Production in q4
mining licence in place
6% copper being discarded as waste by artisnal miners
H2 development - processing equipment on site in July
Doubling licences from 10 to 20 over next month
CPR at Kinusi - September
Graphite flake (Tanzania)
3km strike
1000$/ton(unprocessed), and - post-processing – a much higher price, production in H2
- Graphite at Nyori - processing plant being looked at and into production before yr end. Resource work on Copper and Graphite completed by end Sept
- Blensberg - Funding secured - end July for carbonate plant
Also looking at producing solar hub to power blesberg and NEO at Henkries
CPR on Blesberg out mid June
Drilling and blasting at Blensberg to commence this quarter
- was hoping to announce new acquisition today - even had breakfast meeting on Sunday - but not quite ready
one also next week
The effing games MM play ratio 10:1 on buy side no movement.Then 2k sell drop 2% .
Direct link to file
https://t.co/bpUlZXovd0
Https://x.com/marulaplc/status/1792800281941639601?s=67
#maru 50 page report out today. CEO Jason B is at an Africa indaba mining conference today
Get the salt n pepper ready
Https://audioboom.com/posts/8502655-zak-mir-talks-to-jason-brewer-about-the-london-junior-mining-space
Zak Mir interviewing Jason Brewer. Brewer, a director of multiple London-listed mining companies, discusses the operations and strategic focuses of his companies, such as Marula, Neo, Shuk, and Unicorn.
Drilling contractor is on-site to complete the work for the next mine production blast @MarulaPlc Rig for drilling the production blast being unloaded on site last night #MARU Larisoro Manganese Mine #Manganese @JB_MiningAfrica
https://x.com/Share_Talk/status/1791790732543426635
https://x.com/Share_Talk/status/1791852231022571706
"Marula mining prepare to start deliveries of lithium"
Video from 9th May 2024
https://youtu.be/ztBXBAd15kM?si=t-6xUlw1-hFUQUUK
53minutes Jason speaks. At 1hour18 minutes he tells us that feldspar revenue could equal the lithium revenue. Feldspar is a free byproduct.
10th April 2024
https://www.youtube.com/live/tdCnhiaSYyk?si=Jh3XD0h736tkKmlK
Offtake agreement discussed. Targetting well over 5000T a month. Minimum offtake is for 50,000T by the end of 2026 which is less than 2000T a month
19th March 2024
https://youtu.be/b39sFN_hXcI?si=0o8SieOSuz-qNfHG
1st May 2024
https://twitter.com/JB_MiningAfrica/status/1785597723866996973?t=HCuQbbIOSMdaB2pPtaPtbg&s=19
"Phase I assays being re-assayed given high content of lithium in the granodiorite - the host rock.
Indicating the spodumene lithium mineralisation is not just in the pegmatite zones but 'seeped" into the host rock and leading to wider lithium distribution."
This will likely lead to larger resource size over a broader area and not just contained in the known pegmatite.
"Cores also re-assayed for additional minerals particularly beryllium which has been identified in high concentrations in the test work on the fines."
Current price for beryllium is US$965/kg - so on a per tonne basis a potentially very valuable by-product at Blesberg
"So the mineral suite at Blesberg is far more broader and significant than first thought and goes well beyond just the pegmatite and spodumene."
Should have news on manganese next week looks like some buying going on looks good for end of month.
Guys who has the last news from Blesberg? Was it in an interview? Brewdogs not mentioned old bles much lately. Gulp
Apologies!! This is a NEW second manganese mine being looked at called Kilifi.........
5000T extra above the original 2000T of manganese stockpiled ready for sale https://x.com/jb_miningafrica/status/1791330598448976242?s=67&t=vC2CFL3GZPCQWix6S9rfGg
7000T at $120/t profit = $840k profit. 60% owned by Marula = $504,000 profit sitting ready to sell
At todays copper price of $10350/ton, the adjusted Kinusi revenue is 1.3119 x $28.5m/year which makes the revenue $37.4m. The opex consists of $10.9m/year which remains constant but cost of artisinal material increases from $2.7m to $3.5m. So profit is then 37.4 - opex (10.9+3.5) = $23m vs $14.9m previously.
An increase of 1.3119x copper price increases the profit margin by 1.54x
Pre tax operating cash flow of $136m over 10 years then becomes $209m.
And this is based on DSO processing and 2.5MT resource size. This could easily be 10MT so $836m free cash flow before tax is possible.
https://twitter.com/JB_MiningAfrica/status/1785587543108440312?t=3MT6_h81PF8Ja1ffCi84wg&s=19
The Kinusi copper processing plant under construction
https://twitter.com/MarulaPlc/status/1738179733869773312?t=G1mrdJZTkbREicOgzhjmoQ&s=19
Quite a lot of those things mentioned have orogressed apart from listings and Tomra delivery.
Here are notes from the following zoom call in March
https://docs.google.com/document/d/1OXucCyUJnw1YLVs2carsflmPQ9vJk_R2Ih8B6L_IOwU/edit
* Value of bi-products from Blesberg will exceed the operating costs of the mine
* Any new lithium mines brought on stream in that S.Africa/Blesberg area would be fed into the Blesberg machinery;
* Graphite - could look to do a quick DSO product to get revenue or they may try and get a higher value product to take advantage of the jumbo flake prices. Balance of quick to production Vs not giving away too much value too quickly
* Zimbabwe & S.Africa really good for copper and lithium projects. Tanzania & Kenya great for critical minerals.
* Nickel - very few nickel sulphide projects around. Tanzania is a possibility.
* Manganese - looking at a project in Kenya
* Aspiration to have cash generating assets in both S.Africa and E.Africa so they can operate each area independently * Important to consolidate Marula’s position and they want to increase their positions in S.Africa & Zimbabwe as they have a very good S.African team.
Then cross reference with notes from the zoom call:
Posted at 22/2/2024 11:54 by gasman10
Notes from last nights zoom call.
* Offtake not yet signed. European company based in Switzerland. Got a meeting on Monday and if no positive outcome will look to take an OT forward with another party. Lots of interest. 2 in particular and 1 is keen to invest to produce a carbonate product. OT’s generally specify a 5% minimum product and the price can be higher for better grades;
* A different project is under review for potential production in Q1;
* Kinusi scheduled to start producing in Q2. They are looking into options for copper cathode in the future to maximise revenues and not let too much value go early on;
* There was 36k tonnes of stockpile at Blesberg last year and that’s increased by around 40%. The Tomra should arrive early March and should not take too much commissioning - operational second half of March hopefully;
* Korridor is really good but they have 3 other lithium projects under review - 1 of which is adjoining Blesberg!!
* Copper OT’s are already in discussion;
* Listings will go in the previously suggested order:-
- NSE approx w/c 11/3 - Fader Investment Bank to confirm when submitted the listing document and NSE to confirm it is acceptable - then good to go;
- JSE quickly after that as the NSE is the gateway into the JSE;
- LSE hopefully in Q1 as well but following the other two and we need to meet the £30m requirement.
* The Tomra takes 5 x the material of Rados and they are looking to use in series together. Tomra first to remove the other minerals and then leave a cleaner spodumene for the Rados to process;
* Newsflow: no need for any concern - Jason has been in 3 days of negotiations but RNS’s are being worked on and May have announcements end of this week and through next week;
* Q is very happy with progress. He is busy finalising his billion dollar fund in the Middle East and US but is keen to accelerate development into alternative metals and minerals;
* Blesberg - assay 1 is due 1st or 2nd week in March ish. Assay 2 poss end of March;
* Dividends are important to Jason as a major shareholder and it is not just a box-ticking exercise for the NSE. They have full intention to pay divis when cash flows allow;
* Deals - in South Africa and Southern Africa - relating to copper and lithium. RNS’s soon!!
* Once production and revenues start, they will be looking to move away from share based acquisition payments to cash based payments;
* Blesberg - down the line we could look to move into battery manufacturing to maximise revenues and Eastern Africa is positioned well to be a battery hub!!
* CPR’s are complete for:-
- Blesberg
- Nkombwa Hill
- Kinusi
Graphite CPR’s are being completed asap. All of the CPR’s are needed for the LSE listing
* $406 AISC - so we are very comfortable at these current lithium prices
* Value of bi-products from Blesberg will