Member Info for Andii

Here is the website for Jacques Perold who is doing the CPR and JORC for Blesberg

https://peroldearth.co.za/About-us.php

We get this at the bottom of many of the RNS's

This announcement has been reviewed by Mr Jacques Perold (PrSciNat, MGSSA, MIQ MSc(Eng), MSc(ESPM), NDSURMA, Datametrics), who is engaged by Marula Mining plc as its professional consulting geologist.

Mr Jacques Perold is a professional geologist with 37 years of experience in the field and extensive knowledge of all aspects of mineral resource management.

Mr Jacques Perold is Member of the Geological Society of South Africa (No. 965505) and a registered scientist of the South African Council for Natural Scientific Professions (Reg No. 400171/05) in terms of section 20(3) of the Natural Scientific Professions Act, 2002 (Act 27 of 2003) in the field of Geological Science (Professional Natural Scientist).

Let me just check back the RNS's.

You know what?! It does not look like the assays have been released. And after 18 months too, how disappointing!

We have had in RNS 27th March 2025 this statement;

https://www.lse.co.uk/rns/MARU.PL/environmental-authorisation-for-blesberg-9vdyn8z7ps219ah.html

"· The finalisation of the CPR and JORC Report have been delayed whilst additional sample analysis of 1,273 samples is required and can proceed given the Environmental Authorisation of the Mining Right and inclusion of these high-value minerals

· The CPR and JORC Report are expected to be issued in Q2 2025"

10:10

the style of that investment the amount of that investment and the long life

10:16

that that has to support so there's a lot of work which has been done there you talk about those drilling

10:22

results you talk about the CPR and and so on and so forth I think I addressed a bit of that in my first kind of summary

10:28

that the drilling results the JORC compliant resource and the CPR is all to be released this quarter the reason it

10:34

hasn't been released is because it has been continually updated given the additional minerals which been

10:39

identified the additional test work which Jack Perau our competent person has requested and he's not going to sign

10:45

off and he's told us he's not signing off until everything is captured there and he's controlling the outcome of

10:50

that so we are working to get that done the analysis, the assay results have

10:56

come through all of that is being compiled now but it is a far more broader a CPR than we ever contemplated

11:04

the drill results we're very again confident with what they're showing already they've shown that the lithium

11:10

mineralization which wasn't able to be picked up previously in drilling programs because the majority of it was

11:16

not diamond drilling and as I said a lot of the pegmatites in South Africa differ

11:21

from what you get in South in Western Australia where they are very zonal at

11:27

Blesberg and this has been um Blesberg and that numis one pegmatite has had over a hundred years of historical work

11:34

done on it you can see it in all the South African geological journals a lot of historical work but over two years

11:40

we've done more than what's been done in the previous hundred we've spent over 2 million pounds worth on exploration here

11:45

we've done an extensive drilling program those results will come out the competent person the JORC resource and it

11:51

will demonstrate what we've got and how that lithium mineralization extends well beyond what was originally contemplated

11:58

and is picked up in in the host rock in the other minerals and basically it's

12:04

you know there's really no waste there now at Blesburg everything is of value

12:10

everything will be mined processed and if all goes to plan there we will producing both a high value lithium

12:17

product and multiple suite of other minerals which will create a significant return for our project investment okay

Buk, this was asked directly at the Q&A 3 weeks ago https://www.youtube.com/watch?v=Ljo2JpS4_M8&t=3s

Blesberg is discussed from 2:06 but the drilling and Competent Persons Report is discussed below:

7:34

Jason Brewer:

(Blesberg) you know it it's great but it's challenging and it's certainly given our

7:40

competent person who's doing and finalizing the competent person report JORC compliant resource report and is

7:46

going to be releasing all that data it's giving him a lot of challenges because he's not going to sign off until

7:52

everything is captured hence the new applications which capture all these extra minerals hence you know the

7:58

additional testing work which has been done over the course of the past year so hopefully that's a great update there on Blesberg

Mark Fairburn:

elsewhere i don't know if it's fair to say Jason that Blesburg has

8:30

gone a bit on the back burner i mean the next question that that came in was about drilling results that were never released people seeing this as bit of a

8:37

a red flag any chance to we can release these ahead of the CPR and if you're not if not can you explain um why to reduce

8:45

the negative views

Jason Brewer:

so I guess there's a couple of questions there is on those drill results and also is it fair to say that Blesburg is on the back burner look

8:53

Blesberg not on the back burner i can categorically state that the challenge has been a lot of the work which has

8:59

been undertaken um and this is undertaken by our general manager of operations there Hank Vanzel supported

9:05

by Martin Westerman has been in I guess a lot of desk work in terms of getting

9:11

the mining rights application in getting that approved it's going to be one of the first mining rights

9:18

applications approved in that Northern Cape province for decades so it's a

9:23

major accomplishment there in South Africa when you do a lot of that work as well as the environmental reports the

9:29

financial reports the social and labor development plans there is a tremendous

9:35

amount of work which goes in there to get that done so it certainly hasn't gone on the back burner there's been a

9:40

lot of work been done there but a lot of that work has been ticking off all the regulatory approvals to allow us to move

9:45

away from look we've got a mining permit a two-year mining permit which we're halfway through from a time perspective

9:51

and turning that into a 10-year then into a 20-year mining mining right so there's a lot of work to get that done

9:58

that work has need been needed to be done to allow us to then commit to the installation the joint venture

10:04

requirement for the big lithium sulfate plant okay producing the carbonate that is needed because of this

10:10

the style of that investment the amount of that investment and the long life

Thanks for the compliment. I'll stick it on my CV

First 10k manganese sale shouldn't be far away. The plant was working 10th May

https://x.com/JB_MiningAfrica/status/1921422962063704066?t=HpKvSHS95fy4u3CMxVhpLg&s=19

Estimates of around 50T per hour output OR 500T a day. A 500 ton of 37% material is worth $4.5x37x500 = $83k a day revenue working a 10 hour shift

"Current projects and linked RNS" compelte list in a file stored in this directory. Credit to Kev W, thanks

https://bit.ly/44znwfo

So as per video today, first 15k of manganese sales happening in June

Project is 100% owned

Offtake agreement in place with largest steel producer in the world for 5 years

Manganese Sales - 1.07 million tonnes

Gross Revenues - US$182.5 million

Pre-Tax Operating Project Cashflow - US$63.5 million

Government Taxes (at 30%) - US$20.1 million

Post- Tax Cashflow - US$43.4 million

NPV - Pre-Tax at 10% - US$48.3 million

IRR - Pre-Tax - +100% p.a.

(All figures above from RNS)

New video just out

Marula Mining CEO Makes £600K Share Purchase StockBox interview

https://youtu.be/4Gs7y9ebX6g?si=NBPGt4UX2QrHvfZB

You realists who have been shareholders for years and bought much higher.

Question, do you believe 4p is a good buy in price?

One of our general managers Jana helped develop and managed copper 360 in south africa before coming to Marula to work on Kinusi

https://m.miningweekly.com/article/copper-360---women-in-mining-2023-08-11

Buk, did you listen to the 49 minute interview I posted the other day of Q u I nton talking about Marula in 2023?

https://youtu.be/j5VOfPzrxCo?si=rOx0_dn78QRedrDW

I'm very famous in South Africa for opening up multiple Pits on one mine so

35:17

a lot of guys don't they look at their blocks and go they're going to mine one block out and they're going to mine another block out I look at the

35:23

opportunity and go okay so we're sitting with let's call it 10 different strike zones and potentially those are 10 mines

35:31

you know so I look at it as a cost center per pit and say that's got to make sense not as one M what a lot of

35:38

guys do is they mine this block it's not feasible that M's that block specifically borderline and that one's

35:44

very profitable so they take all three together and it becomes out very average we look at it and go start this block

35:51

does it make feasible sense yes it does okay great how much profits on each one of them so we go through open this one

35:58

open that one so we'll open up three or four blocks on a mine that should only have one cut so we can do what they do

36:04

but just in a different mindset okay they have major equipment sometimes even on cold drag lines various things like

36:09

that their cost centers are through the roof where we can do many we call them Minit operations so we we control the

36:15

costs very carefully we understand that that has to make sense otherwise we close it down

****

a lot of guys put their money into

36:57

big listed companies they're like okay my money's safe in B buletin my money is safe in Anglo America they've got

37:02

results they've proven themselves a period of time but to get into that stock to get into that share at that

37:08

point you only got a very small fractional uptick don't you you know percentages whereas you're getting in

37:14

companies like this yes your gains are substantial but were you risking it you

37:20

know who you risking it with and I think that's where people just need to do their homework I've heard of multiple

37:26

stories of nickel projects and various things like that where the guys are listing in Canada and they're only going

37:31

to go to market in seven eight years time I'm looking at this going I would never get involved like 7 eight year

37:37

view of what how you going to how you going to sell that

Buk, I know you hate me using Ai but I had 15 minutes to research thus trying before leaving for work.

You also demand that a company produce in depth feasability studies before spending money developing assets.

In Marulas case, the kilifi manganese mining plant was already operational, and the manganese feeder kines in the district have been operating for a.lomg time. It is free dig, from surface and above 20% manganese grade in the ground so they only need to assay the material being mined, then assay the material produ ed from the plant. This has all been done and the Kilifi Plant optimised and now producing. Baosteel the largest steel producer in the world did their DueDilligence and committed to a 5 year offtake agreement starting now.

Jason made these comments in Shuka minerals over the weekend, talking about Shukas CEO and Marulas chairman/geologist Richard;

"I have known Rich since we played rugby together at the Royal School of Mines - and that was some time ago.

He is of course looking to build a good strong team to enable him deliver on the Kabwe acquisition - and the Board members he already has in place bring great value - Mark in particular given he was the founder of Moxico in Zambia which is now Zambia's newest copper cathode producing mine."

**

OK, so we have a man working with Marulas chairman and geologist who has brought online a 10ktpa cathode plant in Africa. So I asked Grok for the details and how they would translate across to Marulas Kinusi copper plant (remember the kinusi 3%+ copper mine is an existing artisinal mine so they know what they can mine thanks to a decade of artisinal mining by Marulas partner there takela mining.)

https://grok.com/share/bGVnYWN5_3dfae69f-dcbb-42ab-b356-01861041fcc5

Can you tell me about the Moxico mining company in Zambia and their copper cathode production plant? What is the ore grade of the project, what was the capex to build the cathode plant and what are the production rates and recoveries, and cost to mine each ton and profits?

Can you adjust the Profitability of phase 1 and compare it to Marula mining kinusi operation which plans to use average grade of 2.5% copper and 10,000tpa cathode with power and water already available near the project

Answer;

Conclusion

Profitability: Marula’s Kinusi Phase 2 is estimated to be slightly more profitable ($57.8M vs. $54M net profit) with a higher profit margin (66.7% vs. 63.5%) due to its higher ore grade (2.5% vs. 0.97%) and lower operating costs ($2,200/tonne vs. $2,500/tonne), driven by efficient ore processing and infrastructure advantages

"Pounds not pence" was a slogan used in an interview in 2023 and based on a higher share count than it looks like we will end up with. 400 shares at £1 share price = £400m market cap, £1.50 = £600m. Nice cool 40 bagger

Https://x.com/TheSaintCharts/status/1929176108509147593?t=pKOY4EzqBT0c-o1rlSAsRg&s=19

1min10 seconds, Marula chart, target 18 to 21p

100%. Expecting traders and new share holders to arrive this coming week, and co graduations to them on a nice entry price.

When did you last hear of a £600k director buy in a £10m junior miner?

Did Jason or his Kenyan investment company have £600k available when the share price was at 16p? Who knows. Was Maruoa worth 16p at that time, maybe not? Lithium was at $1500/t compared to about $850/t today. 3.75p is clearly a screaming buy where as 16p back 15 months ago was clearly more risky.

For those who bought at 16p with no director buys and a falling lithium price, commiserations for not reading between the lines. For those buying today undwr 4p with revenue about to commence and the CEO making one of the largest share purchases seen of any small cap miner in recent memory, congradulations.

Ppanchol, as discussed in the most recent 2 hour Q&A when that point was raised by investors, Marula is much bigger than just Jason. There are regional managers and an oversight committee and many stakeholders who collectively decide each and every decision and the direction of travel. In this regard, blaming jason for each and every decision is out of order and not based in reality. Marulas revenue in 2024 was about £75k, corporate costs under £2m. This isn't a full time demanding job. Jason does PR and orchestrated deals and negotiations but the day to day running of the company is run by the various project managers.

*16m bought by Jason and related parties, not 36m. A cool £618,750. That's over 6x Jasons annual Marula salary

36m shares bought by the CEO (and related parties)

27m shares due to AUO cancelled to be covered by cash (proves management believe 3.75p.is undervalued)

Did the confetti cannon just go into reverse and start hoovering shares? Hoof, is this the actions of an incompetent CEO? Please let us know your thoughts as you had so much to say earlier