Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Ah yeah, the Tomra
The Tomra which we are getting second hand for a much reduced price of $750k. Bearing in mind Marula made zero revenue in 2023 l, I'm always amazed how much they are achieving.
The Tomra which was originally being operated at a coal mine under a third party JV, but where we are told there were issues which has delayed delivery.
This is also holding up a tranche of money from QGC so getting the Tomra operational is I'm sure high on the priority list. Maybe we should do a placing to speed up the process?
So the Tomra is 2 months overdue but it only costs $750k. If it runs for 5 months at full speed processing 4000t/month of lithium, forgetting byproducts, it can earn $500x4000x5 = $10m profit
That's a really impressive return on investment. Worth a few months delay? Absolutely it is.
Your like a spin doctor of the cynical point of view.
Andii
That’s just more jam from coco, we want revenue that has been promised. All his interviews are the same in a ramptastic kind of way.
He said nearly 2 months ago that the 2nd sorter was being dismantled and was looking to be shipped to site. He said last week the same kind of thing. Did he lie nearly 2 months ago or did he lie last week.
Poovone the only one keeps talking drivel in Mr head honcho that lies when it’s easier to tell the truth.
Seriously you have invested good money you should question the cowboy that’s in charge of it.
Would love to be on the doorstep when the politicians come around canvassing HH.
Larisoro, processing equipment to be delivered to take production to 20kt per month.
From Jason this morning
"Site visit completed at the weekend at the Larisoro Manganese Mine with inspection of the main open pit and extended pits.
XRF sampling consistent with historical assays with results at Site 5 of up to 48% Mn and at the main stockpile averaging 43%."
https://x.com/JB_MiningAfrica/status/1802937587406905824?t=evMvGKj5ZYDu6FaDJpoB1A&s=19
What is 43% manganese material worth in profits to Marula in 2025? (Based on 70% ownership)
240kt x $5.5/DMTU x 70% = $39.73m revenue minus $13m costs = $26.7m profit
https://x.com/Chuggley1/status/1796587978795647298?t=gdki7QrtsJ_hLW8Dnul3ag&s=19
$26.7m profit in 2025 at todays manganese prices without including any byproducts which we estimate to include Niobium and Tantalite
– Nb2o5
43,7%
– Tazo5
35,9%
On form today whofarted take your drivel elsewhere.Q has put up a lot of money here I think it beats your hundred quid.Mineing is a slow game maybearula had a bit of bullying about it but wait for end of quarter and the buying season on markets comes back value should at some point be priced in.
I linked two videos at 17:18 yesterday. One is a personal video from Jason where he head on adresses the delays with listings and offtake and gives good valid reasons which I believe.
The other is an interview and addresses the delay with the offtake which again I believe, and tells me that things never go to plan in mining.
There was an article shared on telegram recently with average timeliness to get a mine online. Lithium was 12 years. Now I know this was being explored years ago but it was mothballed for a long time so realistically I'm starting the clock summer 2022 which puts the localised timeline at 2 years for Blesburg. Which is incredible.
I'm actually not annoyed at paying 14p or whatever I paid at the top as I have then alps bought at 8p which has brpight my average down meanwhile Koridpr and Larisoro have been added which has added considerably to the fundamental value of the company.
Let me quote again
"Budgets have been applied to increase mining and processing to 20 000t ROM per month which can easily scale as we progress to Phase 2:
"Additional exploration budgets may be applied once the application for prospecting surrounding areas are granted. Infrastructure | Potential to extend product mix to include Coltan and further process Niobium and Tantalite which have the potential to improve value of this project into the billions."
Larisoro alone could be (should be) worth £100m to the market cap short term based on 2025 prospective revenue
Cool, so Q knows what he is doing and only talks truths.
So his statement stands, fair value would be seen by the end of January.
So if we are at fair value how does Andii feel that he bought on Jason’s ramps last year at 15pps.
He ramped you up to double fair value, that must smart a bit. Andii do you not want answers from Jason that he was lying about what everything is worth.
No don’t want to question the great man because he engages with shareholders and if we question him he might stop.
He tells you lies, untruths, misinformation. Complete rubbish. It’s not worth hearing. What would be worth hearing is his explanations for his lies and failures.
The point is Q has put his money where his mouth is. He isn’t going to wait for ever before the drill arives. If you can’t wait the short time in mining times with Marula,there are plenty of other companies where you can grow old gracefully.
I don’t care about other companies, I have invested in marula.
What is quite common with a lot of CEOs is they lie and they lie a lot and Jason is up there with the best of them. He has a history of it over the years and most investors thought that he maybe changes but know he’s still got it.
As for Q, the interview in October he did talk a lot of rubbish. In fact that interview could have been written by Jason. I like the bit we will see true value in January. Are we seeing true value now as Jason has said when he is telling the market how awesome he is how much he has achieved this year. Is this our true value or are we seeing the consequences of Jason’s actions that the market has had enough of Jason’s jam.
Making money keeps getting put back, do you not ask yourself why.
By that same logic then Q u I n t o n lied in October and November in those interviews.
So by that logic, the two largest shareholders, the chairman to be and the CEO have lied to you on purpose. Maybe best you cut your losses.
I compared KOD and PREM because they are lithium peers operating in Africa. Its very common to talk about a peer and compare. And then note how their share prices have reacted and what their valuations are. That's generally quite common on shareboards
Andii me old fruit.
Stop comparing marula to any other share.
I’m not invested in them and will not invest in them.
I’m invested in marula because of Jason’s spill.
You do know we had a deal to supply material 18 months ago which is the reason a lot of people invested in marula.
Jason has managed to take a cash cow and made it into a comedy sketch all in 18 months. That is a good effort.
But but but Jason is awesome and communicates with shareholders. The share price would be a lot higher if he didn’t. If he didn’t communicate so much then he wouldn’t have shown the public that he is a compulsive liar.
Being given information is only any good if it’s true, like it actually happens and unfortunately I can’t think of any truths Jason has told.
I use KOD as an example because that project has taken what, 8 years so far? And as a comparison based on profits vs market cap.
There is a large percentage of shares not in free float so that puts downwards pressure on the share price shouldn't here be a delay (a 6 month delay now) to a project making money.
Let's take another example. PREM, 1p share price high, 0.1p today. Makes the drop from 14p to 8p not look quite so bad.
The old CEO of the JSE was hoping to have the dual listing complete in February. Some things can't be forced over the line.
The LSE main market listing is actually a relatively new development. It was QGC insisted we skip AIM as they know what the potential of the company is.
And what has kod got to do with Jason.
I haven’t invested in kod and I’m not going to.
Maybe there CEO isn’t a compulsive liar, maybe investors dont think he acts like coco the clown.
Oh Andii you are a gullible silly little sausage.
So much rubbish I don’t know where to start but the really funny thing is poovone thinks you are talking sense.
Firstly A2X was a desperate move, he had promised NSE and JSE last year but obviously Jason talks the truth and it was someone else’s fault. It shows how desperate the A2X move was as I think we have sold £15.29 worth of shares on it but Jason lied when he said that half of all shares traded on the first day was done on that market. He even tweeted it which makes him look amateurish as the CEO he should have fact checked it first before making such a statement.
We are still waiting on the other dual listings, as you say Jason is making progress. He was making progress last year when he promised then by Xmas.
The OT was signed in March to start in May, plenty of time to sort that out as he had been stockpiling material for months as the OT was promised for Xmas. He even managed to mess that up. Jason can take a dead cert and still fail. If you look at his history other than looking like a dodgy car salesman he is a serial failure.
Everything else you have written is more garbage that comes out of Jason’s mouth, more jam he is good at spreading that.
Every RNS he puts out leaves more questions than answers.
Don’t put this down on me I’m just doing what Jason can’t and putting out the truth. Look the SP is back in the 7s, why? Because not just me but the markets doesn’t believe him, in fact all the good stuff you have put down on that deluded post the market thinks that Jason is a compulsive liar and doesn’t believe a word he says but hey I’m creating trouble.
Do you not ever look at the whole marula story and question it a bit. I mean if you are not then I think you really are a sausage because you should question everything when you invest your hard earned money on a cowboy like Jason.
Thank you for the synopsis someone with a bit of sense.The accelerated timelines can be difficult to pin down.When you add burocricy to the mix headbanging Marula have done 18 months work in 3.The payoff is within acceptable timelines keep up the good work Marula.
Where is the praise for this?
Blesburg was looking like being delayed by 3 to 6 months back in January. So Marula get to work and get Larisoro project kicked off. It is now online.
Could Blesburg have been progressed a few weeks faster without Larisoro, maybe? But Larisoro could be worth Billions. And at a minimum over $20m profit in 2025 at current phase one throughput.
Did bringing Larisoro on the books delay the dual listings? Maybe, yes. But it has allowed a very high margin business to come online. With known figures for what it has cost, the IRR looks to be over 100%. This is classed as exceptional in mining.
The board, and shareholders, should these decisions have been voted on, with all facts known, would always vote in favour of a new project of this quality over a dual listing. A dual listing is a nice to have, a new project bringing in revenue so quickly would always be a priority.
I really think you need to examine whether you want to be invested with Jason as CEO as what he is achieving is truly remarkable yet you keep accusi gbhim of being del boy and a lier. Really, consider what you are saying and try and appreciate the volume of work that is going on and how cheap Marula are.
KOD, kodal minerals - market cap £100m
Expected yearly profit based on KOD's first project based on their anticipated margin and 100% production = $60m/year
i think you need to take a wider viewpoint and consider what has been achieved with zero revenue in 2023 and a ceo only taking $70k a year salary
marula mining (from july 2022)
under two years - what has been achieved:
added projects:
◦ blesberg
◦ korridor
◦ kinusi
◦ larisoro
◦ nyorigreen
◦ nyorinyori
◦ bagamoyo
◦ nkombwa hill
investigating further opportunities in
kenya / south africa / zimbabwe
2 offtakes agreed - lithium and manganese
sustainable mining
community engagement & mayflower children's foundation
qgc - backed by mining mogul *****on van der burgh
future funding - auo investments non-dilutive loan
dual listing on a2x
listings being progressed - nse / jse / lse
kenya manganese mineral dealer licence
large shareholding by ceo and regular ceo communication with shareholders
there is a chance to make say £100m profit per year starting this year. the jorc's we can assume are going to be in the many billions for each project going by qgc website synopsis.
there is a lot which is outside of jason's control and he can only do so much at a time.
prepare the accounts, aquire new licences, finalise shipment of two offtake agreements, oversee change of plans at kinusi plus delivery of mining equipment, negotiate hire purchase agreements, organise delivery of tomra, write rns's, sign off competent persons reports for three projects, manage exploration budgets and planning, oversee infostructure build out at kinusi and larisoro including roads, drilling and power/water, oversee creation of presentations, fly between kenya, south africa and the uk. also dealing with a constant bombardment of shareholder questions whilst carrying out interviews and zoom calls.
you get all this for £15m market cap. i personally have no issue with missed timeliness. why?
the original offtake agreement fell though because the offtake partner weren't being quick enough as marula are too small still.
royalties and licences take time to organise and timeliness can be announced based on information known at the time according to the offtake/government estimated timeliness but ultimately things can be delayed outwith management's control
https://www.share-talk.com/marula-mining-plc-video-update-on-blesberg-lithium-mine-spodumene-ore-offtake-agreement/
the dual listings require proof of working capital. marula is the first mining company to list on the nairobi stock exchange and the nse just went through a change of ceo. the marula prospectus has to be constantly updated with new changes of business so every window of opertunity when missed then requires a delay and resubmission.
https://youtu.be/aqzcprmvbb8?si=7zjdyz_xdydxzszx
larisoro could be worth billions and has gone from inception to revenue in 3 months. (no rns on the billions, going by qgc websitbe that i linked below, but all studies are underway and details will be forthcoming in the future) where is the praise for t
Well whofarted is back RNS close
Andii
What has Jason said in all his presentations and interviews that has actually happened when he said it would.
Please tell me that somewhere in your deluded mind you think even for a split second that Jason is a bit of a liar and that you wished he would be more truthful.
I know the proper deluded like Marcus and Chuggs will never doubt Jason even when he finally tells one to many lies and the SP hits 5p.
I. Would love to write all the rubbish that he has said that hasn’t happened but I honestly haven’t got a spare half hour
A quick question was blesberg starting this May or next. More than likely delayed as he is thinking up excuses for the accounts being late again. Let’s hope we are not going to go through another suspension, especially like last one that was going to be sorted in a few days.
Reposting latest presentation videos from the 23rd of May
Here is @JB_MiningAfrica doing a 20 minute talking at Indaba
https://youtu.be/tjY9GQ5vzts?si=6Op0zVK8vjkDJwUW
And the short 10 minute Q&A session which followed
https://youtu.be/OyCKIv1w7Cg?si=K9ABE0nLCrBFvT1g
LATEST
PROJECTS
MARULA MINING
Blesberg – South Africa
Located in the Northern Cape Province of South Africa, the Blesberg Project Mine stands as one of the largest known pegmatite deposits with significant mineralization. Throughout its history, it has been recognized as the primary source of tantalum in the country.
The lithium grades observed in the sampled materials exhibit exceptional quality and value, presenting an opportunity to extract a high-grade lithium product from the existing stockpiles. This approach allows for efficient recovery without the need for substantial upfront capital investments or extensive mining and processing expenses.
Exciting developments are underway as we have recently deployed new equipment to the site, enabling Marula Mining to expedite the reprocessing of approximately 250,000 tonnes of stockpiles. Our focus will be on extracting spodumene from these stockpiles, facilitating subsequent sales of this valuable mineral.
LOM 10 years
Resource:
Measured 1.1MT
Inferred 4MT
Mineralisation
Spodumene 6-12%
Li2O 6%
Feldspar 8%
Tantalite 0.04%
LARISORO | MANGANESE
Synopsis
The Larisoro Manganese Mine is a conventional and shallow open pit mine which commenced operation in 2012 and has operated intermittently over the past 12 years on two granted and adjoining mining permits. Mined manganese ore has ranged from 18.82% manganese (“Mn”) to up to 55.01% Mn and has averaged 33.41% Mn over the past 6 years and which is crushed and screened to produce a +37.00% Mn saleable product that has historically been sold into the Asian markets. The current operation consists of 3 shallow open pits that extend over a cumulative length of approximately 600m and which have mined the highly visible and outcropping surface manganese mineralization by conventional drill and blast and load and haul open pit mining operations down to very shallow depths of between 1.5m and 12m.
The operation currently has mining and processing equipment, which we intend on upgrading to allow for scaling up the operation to 20 000t ROM per month. Coltan was also discovered during the due-diligence process and is not yet included in modelling but has the potential to substantially improve value as we progress to P2. The current licensing extends over a 5km strike, and applications for prospecting the immediate surroundings are already in process.
Statistics
Projects
Country
Kenya
JV Company
Marula Mining
Life of Mine
+ 5 years
Resources
Measured
–
Indicated
–
Inferred
–
Mineralisation
Mn
33,41%
Coltan
*
– Nb2o5
43,7%
– Tazo5
35,9%
Investment Strategy
PHASE 1
Exploration | Budget has been applied to define resources at JORC measured standards on the current property as well as conduct all necessary studies to scale up mining operations.
Infrastructure | Current infrastructure on site is rudimentary and typical of artisanal and junior mining operations. Budgets have been applied to increase mining and processing to 20 000t ROM per month which can easily scale as we progress to Phase 2
• Equity –
• Explore – $ 3 426 422
• Infra- $23 262 954
• Establish –
PHASE 2
Exploration | Additional exploration budgets may be applied once the application for prospecting surrounding areas are granted. Infrastructure | Potential to extend product mix to include Coltan and further process Niobium and Tantalite which have the potential to improve value of this project into the billions. Phase 1 studies required to conclude Phase 2 expansions.
KINUSI | COPPER
Synopsis
Kinusi includes a series of 10 licenses in a known copper hosting area, which has been exposed over the years to become a highly sought-after prospecting target. High grades of 7.0% Cu have been sampled with some reaching 31% Cu in value. Regardless of these results, we have modelled based on a discounted 3% Copper content in the ore based on large-scale mining. The ore is hosted within the pegmatite dykes showing consistency in strike and dip, with all artisanal operations mining at shallow depths of 4m below surface.
The current exploration programme has resulted in a resource increase from 5MT to 15MT and is anticipated to increase to 50MT as prospecting continues. The next phase of exploration is being finalized and will include diamond drilling, geophysical surveys and a variety of primary and secondary interpretation methods.
In the interim, access to current feedstock from previous mining at Kinusi as well as smaller surrounding mines proves profitable for short-term returns until exploration and establishment activities conclude.
Statistics
Project
Country
Tanzania
JV Company
Marula Mining
Life of Mine
+ 10 years
Resources
Measured
–
Indicated
–
Inferred
10 Mt
Mineralisation
Copper
3,00%
Gold
*
Investment Strategy
PHASE 1
Exploration | Budget has been applied to drill up the project to JORC compliant resources and conduct necessary metallurgical and engineering studies to maximize product potential on the project Infrastructure | Phase 1 Infrastructure is purely for a pilot concentrating plant to process the currently accessible feedstock available on the project until mining activities on the known areas start.
• Equity –
• Explore – $ 5 321 000
• Infra – $ 1 500 000
• Establish – $ 2 370 862
PHASE 2
Exploration | Further opportunities to increase the exploration are may arise, but no further exploration beyond Phase 1 is currently projected. Infrastructure | Plans to increase processing facilities from Phase 1 pilot plant to scale copper concentrate outputs and the potential. Gold potential may necessitate additional infrastructure to be determined based on economic evaluation in Phase 1
• Equity –
• Explore –
• Infra – $ 40 653 633
• Establish – $ 2 371 042
Not sure what's going on with the sp,hoping that some good news on deliveries and income will make it recover abit,and also yearly accounts are on time this month don't need another suspension again this year .
Looking forward to more news
Https://x.com/AndrewMathieso3/status/1801323867534987326?t=2GAzqS8M0Kh34SdRw2fUUg&s=19
Larisoro potentially worth billions $
Kinusi copper 15MT initial resource modelled at 3% would be worth $4.5b in situ value
Blesburg 4MT inferred resource at 6% without byproducts would have an in-situ value of over $4b and they have only scratched the surface exploration wise there with Koridor 80x larger.