Marula Mining Share Chat (MARU.PL)

Clear as mud RNS out should be ok to let rip

Revenue

The trust has gone, the only way to change that is revenue.

No one believes the jam anymore.

CONFUSED??????.Another date that sp does not react normally.7 to1 on buy side no movement.The other day a £60 sale dropped sp 3.5%.I know there are market games but this is getting painfull.

Andii

The aim/plan means nothing with Jason.

The plan last year was to get the accounts out on time. How did that work out.

When we got suspended Jason aimed to get us trading again in a couple of days. That panned out with Jason blaming everyone apart from himself. You know taking responsibility for his failures.

We aimed to be dual listed last year. What we got was some Micky mouse exchange where all Jason’s rich mates were waiting to buy our shares and so far we have done £15.28 worth.

He aimed to have the OT signed by Xmas but we had to wait Tim March for a contractual start in May and next week it’s July and …….

Do you want me to carry on

A Google search on "how do serious investors manage risk?" returns the following:

Strategies to manage risk in your portfolio

Avoid putting all your eggs in one basket by diversifying across different asset classes (e.g. stocks, bonds, commodities, properties) or countries/regions. Diversification reduces concentration risk and minimises exposure to a single asset.

So, even if an investment seems very likely to do well, serious investors wouldn't go all in as that would not be managing risk effectively. I agree with that approach. My largest holding is in MAFL where the last stated NAV is a very cautious 26p per share against a share price of between 11p/12p. The NAV has risen every quarter for years and the directors are good deal makers on small salaries and large personal holdings. But I still wouldn't put all my eggs in a MAFL basket, however brilliant the company is. Serious investors spread risk....

I do believe this is the aim/plan. Why? Because Marula mining is QGC's first and largest investment in battery minerals in Africa. And they have just been given access to £1billion dollars.

https://waya.media/uaes-f9-capital-qgc-partner-to-invest-us1b-in-producing-green-metals-in-sa/

If you honestly believed that, you would be throwing every you had into this share.

But I dont think you are because

1 you know that is a delusional ramp and it’s complete garbage

2 deep down you know that Jason would mess it up anyway.

Andii Hahahaha

Beyond the initial 60kt/year 6% lithium spodumene currently ramping up at Blesburg, there is significant upside potential beyond $11b once a lithium carbonate plant is installed.

Marula are aiming to have this in production by the end of H2 2024. Kodal minerals aim to have their carbonate plant producing in 2029.

https://x.com/JB_MiningAfrica/status/1806228601034940596?t=k_ZJbzUKCrZvc197zwCCgA&s=19

Well said Timmit

I remember asking a CEO at an AGM about his £120k salary (more than 15% of the company's market cap) and why he'd never bought any of the shares he was expecting us to buy. His reaction was enought to make me sell up - the company still flatters to deceive several years later...

Well said always invest in management and the story.If both are ok invest.Years ago I invested in an oiler they found gas off Africa.The CEO said announcement at AGM 3 weeks away.I bought in and waited as we approached the AGM volume of sales started to increase I thought this strange.Then 2 days before meeting sp began to fall I smelled a rat and dumped it all.At the AGM he announced a share dilution to his mates at 55% discount to the sp.What a twat and he did not give a hoot.The sp fell from 90p to 42p straight away people where shocked by this.The sp never came back and at moment sits at 0.25p so that worked out well.

I was one of the 2p and warrants invetors back in Nov/Dec 2022. I went to the AGM in Nov as a "fresh" investor with a set of shareholder proxies to vote on a particular resolution point.... The only other investor attending was known by first name by the directors there not because he was a large shareholder but because he had been in ASMO (as it had been) for years and had seen his investment of several hundred thousand pounds shredded to just a few thousand through confetti shares being issued. The company had no direction, several failed ventures and looked dead in the water.

Jason had joined earlier in that year and things started moving. I realise to some he is a Marmite character and they will either never like him or never distrust him. In my experience as an accountant dealing with hundreds of clients over decades I find that Entrepreneur mindsets are optimistic (sometimes wildly so!) and that can be reflected in the deadlines they set for themselves and others. That optimism works well when not accepting "No" as an answer from a Government or having a vision to accelerate growth and bring momentum to projects.

I've spoken to Jason a number of times and I sense he falls into that mindset. So, anticipated event dates being missed will be annoying - to some more than others. My take is that it is the other side of the same coin rather than the rampant dishonesty some are implying - optimism v "don't tell 'em Pike" caution. In my experience, very few CEO's get the balance right. It will too little shareholder information for some if the CEO is very guarded and more of a white knuckle ride from the optimists.

In Marula, I'm investing in a business not a share price. If I feel another company has better prospects in the medium to longer term I would sell up here and invest in that business. If I feel the company's prospects (my investment) could be improved by implementing certain actions I pick up the phone and discuss it with a director (as I have done with 4 different listed companies in the last month). I certainly wouldn't be "jousting" on a bulletin board with other posters and launching ad hominem attacks on company directors. That's not what serious investors do...

Very interesting post .I invested in marula at start of year.I trade 1 third and hold 2 thirds.My average is now 10.6p at over 300k shares.It can take nearly all morning to sell down if volume is low.I have been into shares for more than 35 years.Marula is quite unique in many ways it is equipment rich and a minnow of a company it has strong backing and does move very fast for a mining company.I follow the story the basics are marula is an expanding company very close to having real money in the bank we will discuss closer to end of q4 should be very interesting.

First 100m shares in 4 tranches were invested at 3.75p, the market price at the time. Without this investment we could be at 0.7p not 7p.

5th tranche of shares to be invested at 10p as announced in February

https://www.aquis.eu/stock-exchange/announcements/4463334

Rose tinted glasses still on.

The old saying you con not educate stupid.

What did Q pay 3.5pps.

You go and live in your deluded bubble,

Just for a giggle how many times have you had to explain to your partner how this will come good next month and have been saying that on repeat every month.

Let’s hope so, I do think if Jason would have came out at the start and didn’t promise so much then a lot of the trust would still be there. Will this come good I still think it will. Will it be this year, I doubt it. Just feel there is a lot more delays and empty promises to come before we see a decent SP.

you are far too simple to understand.

Φ i am still up significantly over my total of 7 years investing and am quite successful in life, but i'll let you make your own opinions

rule number 1 never fall in love with a share. unfortunately you chuggs, marcus fpoovone and the rest of the deluded have gone a step further and fell in love with the ceo.

Φ i would agree with this, and even more so in a bear market. but this share has gone from 2p to 15p quickly and holding on at 7.5p with an average of around 12p is not my definition of falling in love as my position has not dropped anything as much as other losing shares i have followed over the years. i have made that mistake before and this doesn't reach that criteria (yet)

just for fun, take off your rose tinted glasses and try to look at marula as a neutral.

many have and have invested. many more in africa want to. the small cap market doesn't have much liquidity currently with a lot of money having left london .

you got ramped in by jason at 14-15pps. since being in has anything happened when you was told it would. as a neutral how many red flags can you see.

Φ q u i n t o n got ramped too then as he subscribed for 47m more at 10p. he must be very peed off? oh no wait, he keeps updating his website and is in the process of securing $100m investment from saudi arabia to invest in marula second and third stage project developments.

honestly how many, don’t bring up kod or prem how many with marula.

the closest related peers should not be discussed on a stock bulletin board? don't really understand why not?

don’t you think the ceo should be held accountable and answer why he talks rubbish.

yeah, and he holds investor meetings (last one was in may) and regular zoom calls roughly every 2 to 3 months which are an open forum with no questions not addressed.

or shall we have this same conversation in 2-3 months.

sounds good to me! if you disappear, i will know your true intentions...

but but but we have £25 billions worth of material in the ground and we will be getting so much in dividends. didn’t jason say this year

jason has never said £25b. i calculated back of the *** packet at over £40b in-situ value but jason would never announce something like that without jorc's and cpr's to back up his statement.

do you believe him

yes, and so do his team, partners and some other very high net worth individuals who have invested. fujax, qgc, just look at his twitter or linked-in and read through some of the supporting comments and praise he receives from people on the ground - including local government officials.

Hi Hoof, yes,we are slowly on the mend,thank you. I agree that revenue is everything now, I do remember jason once saying that he admired Caledonia mining, a steady revenue generating,dividend paying mining company. Taking a step back from the day to day stuff, I am confident that in a years time,a healthy and growing revenue stream will see Marula with a strong balance sheet and in a position to start paying a dividend like Caledonia mining do. It may take a little longer, but that is my hope.......and we all need that.

Now do the next post

Let me address your previous post

Where they are located

South Africa - very mining friendly jurisdiction

Kenya - emerging economy with ambitions of growing mining share of gdp from 1% to 10% quickly. Very supportive local government

Other Eastern and Southern African countries which are much safer and score highly on anti corruption and security matrix.

What material they have

High grade manganese with byproducts (b-p still to be announced)

Easy to process lithium with very valuable byproducts. Stockpile enough to support offtake agreement until end of 2026. Huge expansion potential in ground already owned.

Copper and Graphite assets.

How much land they have.

Plenty enough for 10 year mining. Huge upside potential at for example Koridor which is 80x larger than blesgurg

Is there ceo a bit of a liar

Hugely ambitious and optimistic but this is his first mining company tenure as a CEO so maybe his ambitions sometimes don't materialise on time. See my below post about original offtake delays having a knock on effect on every other timeline

Does there ceo miss all there own targets

See above

Is there ceo a bit of a cowboy

This is conjecture. There was a previous directorship where the share price crashed and the CEO was done for fraud, but Jason had already resigned a year before the company collapsed and a court of law found nothing wrong with Jason's conduct.

He has also had the billionaire investor do due dulligence on him and Marula is QGC's largest metals investment to date.

Statements like that I find peculiar from someone invested

You are far too simple to understand.

Rule number 1 never fall in love with a share. Unfortunately you chuggs, Marcus fpoovone and the rest of the deluded have gone a step further and fell in love with the ceo.

Just for fun, take off your rose tinted glasses and try to look at marula as a neutral.

You got ramped in by Jason at 14-15pps. Since being in has anything happened when you was told it would. As a neutral how many red flags can you see.

Honestly how many, don’t bring up kod or prem how many with marula.

Don’t you think the ceo should be held accountable and answer why he talks rubbish.

Or shall we have this same conversation in 2-3 months.

But but but we have £25 billions worth of material in the ground and we will be getting so much in dividends. Didn’t Jason say this year

Do you believe him

Sigh. We go round in circles here don't we. I posted this last week, here it is again:

In december Marula were anticipating offtake signed and sales in January with Mercuria. But they got messed around (put on hold due to relatively small offtake size), so instead chose to go with smaller more agile outfit Fujax.

Regards to the NSE, working capital was discussed as one of the last items needing sorted out. (see series of short videos from february) https://youtu.be/aqzcprmvbb8?si=7zjdyz_xdydxzszx

Then in March we get a new manganese mine - of course this meant having to update prospectus and re-submit documentation again due to change of business. At this same time, the CEO of the Nairobi Stock Exchange changed which likely caused even further delays. And in the mean time, Marula were still growing and expanding to the point where they now have more projects in Kenya lined up for investment (Kilifi is the latest), with another unknown Copper and Graphite mine yet to be announced.

If there were question marks over working capital requirements in february against this backdrop of expansion with zero revenue so far in 2024, is it little wonder that the NSE listing is not getting approved until July when revenue from Larisoro (in Kenya) and Blesburg (in South Africa) fully satisfiy any doubts on the source of working capital.

There was also talk about difficulties of flowing cash between separate countries in Africa, I can't remember the specifics. But we now have two solid sources of revenue on Kenya and South Africa to allow expansion in both.

*******

Just for fun, some stats on : HoofHarted

Last 40 posts. The word liar was used 10 times, the word lies was used 22 times, the word andi was used 17 times.

Andii

Please stop being a fool. Stop comparing companies. I’m not invested in kodal I don’t want to invest there and I don’t care what they are worth.

Hundred of different factors value a company.

Where they are located

What material they have

How much land they have.

Is there ceo a bit of a liar

Does there ceo miss all there own targets

Is there ceo a bit of a cowboy

Was there ceo the best thing since sliced bread, got a bit carried away with themselves started messing up and rather than put there hands up and except responsibility tried to lie there way out and lost a lot of respect and trust from the intelligent investors.

Revenue is the only thing that will change things here. Last week Jason said 2-4 weeks. One week gone will you be questioning him if he misses again or just let him keep messing up. 1-3 weeks I feel it won’t happen

Here are some recent communications from Jason on the marula telegram group

https://x.com/AndrewMathieso3/status/1805831072116023363?t=1yb9BTSMuFGH8fAI6CLVFQ&s=19