Member Info for Andii

ThedaDecay. Today's CEO and CFO share issue RNS is identical to the one we see on the 1st of every month. It is their monthly employee incentive shares being awarded. They have much larger share options but can't purchase them for another 6 months yet.

I'm chosing to quote the shareprice as it was for almost a year when I was researching them 7 years ago - when they stated that they would be producing in the next few years. The fact the share price then plummeted and recovered is subjective. I'm just stating that many holders could potentially be flat on their holding if they believed the hype 7 years ago, and it's quite typical for a mining company share price to fluctuate like theirs has in the 5 or more years leading up to production

Marcus, try around 35%. The Mali government have taken around 25-30% as per new rules on foreign mine ownership.

I remember when kodal were 30p about 7 years ago. Share price today, 35p. I'm hoping that Marula will far exceed those types of returns with their quick to production model, multi commodity and minimal dilution.

Dee, 0.1% of mining projects make it to production. If Jason had been successful on the ASX, and the stats show the odds are massively against that happening, then Jason wouldn't be the CEO of Marula mining and none of us would be here.

If Jason had a highly successful past in mining, he would be joining companies with large JORC ready projects and securing massive loans and bringing in other large stakeholdslrs. Not fast tracking projects for cheap in Africa.

Dee, you yourself backed some mining companies which delisted. We all learn from our mistakes

Hoof, the consensus amongst hundreds of members of the telegram page for the past two years is that marula share count would reach about 500m. Today we are at 300m so significantly under.

Marula have not raised shares for working capital.. Their admin costs are very competitive. I don't know of a CEO on earth that wouldn't issue £500K of shares in order to gain almost £10m in free cash flow over 5 years. That's a good business deal however you look at it.

I'm really interested in what fantasy world you live in where CEO's don't need to announce commissioning progress in an RNS because they already told the market in a video, and in which companies always hit every single one of their targets every time.

I remember Kodal minerals stated they would be online almost 5 years ago. Prem would be o line 2 years ago. Your average miner usually faces delays of 3 to 5 years. Yet Marula, at 2.5 years, when they miss those timelines, must be run by an incompetent CEO who lies in every single RNS.

Please sell up why are you here if you think the CEO lies about EVERYTHING. Save yourself and the rest of us the anguish, for your own sanity!!!!

Plenty of photos a day videos of Kilifi on twitter.

RNS out today confirming the stage we are at of the commissioning and sales to commence during May

Are those international companies 2.5 years old pre revenue?

Jason on telegram this morning

"Still 3 days this week - and has been 4 RNSs over the past 5 trading days - so lets see what the rest of the week has in store"

Mental eh Panchol!! A rumoured huge seller yet the share price remains anchored and doesn't drop below 3.5p. Makes you wonder if there is also maybe plenty of buyers. Bodes well for first revenue RNS's or seller being exhausted

I'm not comparing Marula to other miners. I'm explaining how business transactions are carried out and how there isn't usually a massive winner vs a massive loser. For example, had the share price have been 20p today, the Kilifi owner wouldn't have wanted shares as the upside would be much less.

Claiming that the market never lies is also a fallacy. There is literally a difference of PE from 1x to 500x for similar companies. Does that suggest that the market is always right? No, there are literally a whole haot of reasons why a comapny share price can fall. Choosing a successful micro cap company listed on the London stock market over the 2 years has been very difficult compared to 4 years ago. Emyet the market is always right? Marula is 2.5 years old yet they are a failure? The share price is higher than it was when marula first listed.

I've sold out of shares which fell by 80% or more. I have also sold when a amshare has 10 bagged. My average in Marula us around 9p so on paper I am only down around 60%.

And what has my wife or girlfriend got to do with Marula mining?? Wow Hoof, come on!

Yes Hoof the £1m they have to wait for.

But as explained previously, they stand to only make $500k in 2025 from their 20% share

So they opted for £1m cash end of 2025 instead of $500k profit from the project in the same time frame and a further £500k worth of Marula shares. Its more cash short term amd a hedge against any further delays in delivery.

Makes perfect sense.

You have self confessed to not following other junior mining companies. So you will fail to realise that it is very typical for an existing Explorer to give away 70 to 90% of a project in exchange for a larger company coming along and taking the project into production. It's a very common type of transaction.

An alternative view to yours Hoof is the existing holder sees more upside value in Marula shares than the expected long term profits of Kilifi. Whether than £10m or £50m. You never consider the positive connotations to the deals being struck by Jaspn as you are in some sort of hypnotic trance where everything Jason does is bad. Your opinions are abusive and non balanced. You would literally be impossible to do business with and would be a toxic executive member of any team. You remain anonymous and refuse to phone Jason to discuss your concerns despite crossing the line of libel with many of your accusations on this message board. You didn't attend the zoom call yet heavily criticised it's content.

A reiterate, there is only one clown in town and it's you Hoof

Kilifi existing owner get £3.1m cash for a project that was in care and maintenance. And 22m marula shares (almost 10% of Marula)

Not bad for a mothballed project is it

Why are they selling the asset? Please explain, do you mean the final 20% which they are getting 2.5x the shares and cash for (£1.5m for 20% today vs £3.1m for 80% mid 2024)

Because silly hoof, without Marula they wouldn't have a project. It was sitting in care in maintenance back a year ago with no development finds, no offtake partner, and no .manganese supply agreements

They are selling it because without Marula they would have no revenue.

They want shares because they are impressed with Marula so far and want a chance at future share price appreciation

Hoof, who are you on about "they are selling" and "they can see what is happening and still want to sell"

How do you know the kilifi original owner has sold a single share?? You don't, that is FUD

And how was Jason to know Q uinton would have a bad year and have to modify the share agreement to be via CMC? That was impossible for Jason to know at the start of 2023 when the deal was penned. Jason has had access to over £3m of development funds which has kept Marula going as a going concern and allowed projects to be delivered. Yet you keep peddling the notion that Jason is a Co man and a failure? I'm really confused by your logic

"He is involved in 5 companies and 5 assets with just Marula"

That's called having subsidiaries and means that cash is paid to local companies and if one company goes bust, the parent comapny isn't liable. It's basically how 90% of companies with multiple projects operate??

Exactly Micky. The value of the 20% is approx 2.5x what the value of the 80% was. Which makes sense as the project is now 1 month from revenue at a higher manganese price than it was in July 2024 with development still 6 months or more away.

Marula get the final 20% and can make over 100% ROI on the transaction over the next 5 years, yet some posters would have us believe it is a terrible deal and the actions of a clown CEO? Makes you laugh doesn't it

"More made up Brewer figures" come on Hoof, that's your come back? 1.5/10 for effort there

Here is the document that shows past and outstanding kilifi shares and payments. *yet to be updated with today's additional 12m shares and £1m cash*

https://drive.google.com/file/d/1cdAWylrVBFc-cjP3VDAWGoR5KNy7-J2L/view?usp=drivesdk

Hoof, if delivering 5k per month by keys day June, that's $1.5m revenue. What is the opex? 50%? Tax, 30%? So 20% of $1.5m =$300k, minus 50% cost = $150k, minus tax $100k. That means Kilifi existing partner could earn $500-600k in 2025.

OR after today's deal, they get 12m shares worth £500k and £1m cash at the end of 2025

$500k if they hold

£1.5m if they sell, plus future upside in share price and dividends

Kilifi has in 2024 cost £100k in cash and 10m shares (at 10p so total £1.1m equivalent) at today's share price that is about £500k in cash. What did it buy? A plant with no offtake in care and maintenance with no agreements in place for manganese product from local miners.

On top of that was a further £2m cash so total value of 80% was around £3.1m which fell to £2.5m or less with the drop in share price.

Today's RNS, considering there is now an upgraded plant, a 5 year offtake agreement, and agreements for manganese product with local miners, the remaining g 20% is worth £1.5m (£500k of shares at 4.5p - a premium to today's share price, and £1m cash paid in December)

So £3.1m (now worth £2.5m) for 80% at an earlier stage of development

Now £1.5m for the remaining 20% as the value of Kilifi on paper has gone up significantly.

And delivery has been delayed a month. So delivering manganese to Baosteel in 10months instead of 9 months. And no penalties.

On paper it makes perfect logical business sense.

Because the seller had no money to develop. They didn't have the expertise to increase the product from.20% to 40% manganese. And they didnt have the connections to negotiate a deal with the largest steel producer in the world?-

They want shares. If they wanted to buy 12m shares in Marula, would they be able to buy them at 4.5p? There has been leas than 1m volume every day. If anyone tried to buy 12m shares they would be paying a large premium very quickly. Furthermore, If they waited for the cash, they might only see $1m free cash flow for their 20% in 2025. How many shares could £1m buy if the sharenprice 5 bags in the next 6 months?

£1m x 15p = 6m shares. Buying shares with cash and they could have 6m shares. Taking shares today and they have 12m.sjarws plus £1m cash at the end of 2025

£500k worth of shares (less than 5% dilution and a firther £1m in cash by end of the year, for 20% which could be worth $12m in free cash flow over the next 5 years.

Question for you Hoof, if I invest £1.5m in the bank and get back £10m over the next 5 years, have a made a good deal or am I an idiot?? Serious question. Just trying to understand what you would consider a good deal as it sounds like your basis for a good deal maybe resides in fantasy land and not the real world.

Yet Hoof recons it's a confetti deal, overhang, a pump and dump, and a failure of management

When you keep referring to clowns, are you referring to yourself?? 😁😁