Member Info for Andii

Shuka? As was well documented on Shuka message boards at the time, the delay and holding back of funds for Shuka were related to the executive board being grossly overpaid and not delivering. The executive board have since been replaced and alternative funding provided.

To suggest AUO are defaulting on transactions across the board is misleading as Marula have been in receipt of over £1m from this year so far

"The fund" you are talking about is the $1billion F9 fund. This was made aware to the market early in 2024. It is for future advanced stages of projects.

Marula at this early stage of development doesn't actually require this fund. We are already covered by the original AUO share subscription finding of which we have around £6m still undrawn.

Kinusi phase 2 will be paid for through debt and pre payments against copper sales.

Blesberg lithoum JV will be paid for through the JV.

Please explain why the F9 fund being late would affect current operations and growth?

It's also worth pointing out that in the broker research note, the Ebitda loss for FY2026 which starts in April 2025 is only £1m so it won't take many new orders to flip that figure to a positive = a position of profitability with the addition of just one new decent US contract win in 2025.

Yeah correct. Craig the CEO indicated during the interm results presentation that the 4x production increase will be filled with new contracts/customers not yet announced. This will take Ondo into profitability this FY year. The broker note has this date as a few years away hence looking forward to their revised note and increased price target once new customers are announced

Broker target right now is 72p based on current insurers.

https://imgur.com/a/rpouMXa

Interesting to see that nationwide are the largest current customer/insurer with a 2.23% share of the US market. They cover 3million households

State farm are in talks with Ondo. They have a 9% share of the Market.

Liberty mutual have a 5% share.

Those two combined are 7x the size of nationwide or 21million households.

Looking forward to the next announcements and future broker price target upgrades!

Potatoes potatoes.

4million grammes mentioned around 6:40 on the video

https://youtu.be/hIOWrGOfdZs?si=A3DbzAhG_ETsJ59Q

Maybe there is a bull case where operating costs are only $750/oz and they get $2750/spot. This then looks like $2000/t profit minus 30% = $1400 x 90% recovery = $1260 / 2 (50:50Jav) = $600/oz

In this bull case the average grade is 14g/t so 14.98oz a day x 600 x 365 = $3.28m revenue a year.

Not sure what their operating costs/margins are or what the tailings operations might bring in but that's my rough calcs

I've done the minimal of DD so forgive me if I'm wrong. Listening to interview

Aiming for production of 28tpd. (Not 300, not sure where I got 300 from)

https://youtu.be/hIOWrGOfdZs?si=A3DbzAhG_ETsJ59Q

Mine has historically done 4million grammes of gold over 12 years (1998-2010) That would be $285m assuming gold price of $2,000/oz. Thus was at 60t/day.

Sounds like they are getting the full sales price minus a 20-30%cut which is better terms than I thought.

Based on the above, to know the profit, would need to know the profit margin on the production plant. Assuming it was profitable at $1500/t so at $2500/t there is $1000/t extra. But costs will have increased vs historical too so maybe trim that to $500/t

Let's say at today's nice gold prices, margins are 50%. $2500 spot price minus 30% = $1750 x 90% recovery = $1575 x margin = $787.5 minus transport costs maybe 10% so $700. NTVO own 50% in the JV so could hope to see $350/oz for every ounce of gold sold.

Based on 30tpd, 365days and 28g in an ounce amd average 10g/t, that's 10.7oz a day, $3750 a day x 365 = $1.36875m a year revenue to NTVO

So please explain to me how much NTVO is likely to sell a ton of 20g/t DSO (direct shipping ore) of gold to the processor for?

It needs transported 70km then sorted, then treated with acid, potentially refined too? And the Processor needs to make a profit whilst selling for 20-30% less than spot.

How are you getting $140m of gold per year?? Thanks bonkers!

Let's say they mined what 300t a day? (Hugeky optimistic) Let's say it's average grade is 15g/t? So that's an in-situ value of $420k gold x 365 days = $153m. OK great. But the recovery rate is 90%. So $138m. They get 20-30% less than spot, so $103m.

Now that is what the producer can earn in revenue. What does it cost to process that gold? Let's say a 30% profit margin so $70m costs and $30m profit.

If they are making $30m profit, subtract 30% tax and that's $20m left over. How much are they going to buy the raw ore for from NTVO for considering they will be receiving 15g of gold and 1 ton of rubble in each delivery which needs to be transported 70km? I'm guessing somewhere between $10 and $100/t. So revenue to NTVO per year, best case = 300t x $100 x 365 days = $10m. Worst case $1m. Then they have their own costs out of that, mining costs, development costs and potentially the 70km transport costs depending on who pays for transportation.

Ondo featured in this video

youtu.be/cZQC6WSYNPM

Here is another review of the alternative device called Flume (**not Ondo leakbot**)

https://www.reddit.com/r/smarthome/comments/16cni5v/flume_water_meter_good_as_a_broad_sanity_check/

"Hey folks, I'm trying to understand why my Flume water meter didn't really do the thing it's specifically supposed to do, which is detect a leak in my home"

'Approximately' 0.01gallons per hour leak detection

This equates to 37.85ml per hour.

Ondo leak bot can detect 4ml per hour leaks.

So (Ondo is) ten times more sensitive and not reliant on mechanical meter measurement, so completely independent/standalone

Cheaper upfront BUT comes with a free repair service

Stands head and shoulders above the competition on any number of metrics

If Leakbot were to go head to head as an iot solution for the insurance industry then I believe it’s far superior.

https://imgur.com/a/5JEjB4p

Https://www.linkedin.com/posts/jefferybales_building-on-my-previous-post-i-would-like-activity-7244434847664873472-oeTH?utm_source=social_share_send&utm_medium=member_desktop_web

Building on my previous post , I would like to share more details about the Flume Water Home Water Protection Service.

The Flume sensor straps around your water meter (you can refer to our Installation video, which I will put in the comments, for guidance), while the Flume app provides real-time leak notifications and usage data right to your phone.

Once the sensor is secured to your water meter, it detects water usage by converting magnetic rotations of the meter to a flow rate. By measuring the turbine's speed, we can calculate the gallons per minute (GPM) being used in your home. This mechanical approach is a key differentiator for Flume, as our method of detecting water flow is not reliant on AI or machine learning, resulting in exceptional accuracy (99.9%).

After installation, sophisticated models are applied to the raw data to determine normal vs. abnormal water usage. By filtering out normal usage patterns, Flume can identify two primary types of leaks. The first is a “low flow leak,” which is characterized by a flow rate of approximately 0.01 GPM sustained for over two hours. If left undetected, these leaks can escalate into significant problems. The second type is a “high flow leak,” which involves a sudden surge of water (around 5 GPM for 15 minutes). Homes protected by Flume rarely experience this type of leak, as they typically begin as “low flow leaks” that we can detect and help homeowners address before they escalate.

Now that you understand how the system operates, remember that a picture is worth a thousand words. Take a look at the image below to see our system in action. Tomorrow, I will share part 3, detailing how we are working with Insurance carriers

// image below to see our system in action. Tomorrow, I will share part 3, detailing how we are working with Insurance carriers”

3.8m extra shares at 36.5p if all exercised by staff will bring in an extra £1.387m to ondo, paid by the employees out of there salary.

They are valid over 4 years so good incentive to stay with the company and work hard to improve the share price.

Also, if there was ever a take over bid, the collective employees would have their 3.8m options at 36.5p as a deterant to a lowball offer...

"Your offering me 50p?" - well I think this company can be worth £1 and I have options in my pocket at 36.5p so I reject the offer and will wait for the market cap to appreciate thank you very much!

There would have been a block listing agreement previously in place for 6.2m odd shares. The block listing is now amended to include the extra options. It means that the company can issue the shares on the go in small batches then account for them later in a block listing RNS update instead of releasing an RNS with every individual issue of options.

Posted on telegram;

AGM

NSE

The listing will get a lot of attention, because of that there will be a lot of involvement by a number of senior people in politics. It will happen Q1 2025, Jason hopes sooner rather than later. There will be no updates about progress so the next RNS on the listing will only be when there is a firm date.

AGM

Auditors.

Price Bailey were given a second chance last year. Timetable for accounts were agreed, but they didn’t deliver, time then lapsed and they went onto other things.

Cost of new auditor is not significantly higher. New auditor has the capability of main listing should Marula re-embark on that.

Handover meetings in progress. Final handover meeting scheduled for 8th of January.

Jason emphasised the board members strength of financial backgrounds, that the new auditors are already, demonstrating they better understand our business, and that he understands the importance of rebuilding trust and confidence.

"The peak Market Cap was £350m during the Maersk and Saudi days so you're not far off.

I'm thinking the same is possible during the MSC trials, as it's a way more attractive fuel for the whole shipping industry to take up rather than just Maersk. The shipping industry needs to drastically cut CO2 emissions, bioMSAR can do that now, it's also way simpler and cheaper to roll out across the shipping industry than Methanol, Ammonia, Biofuels, etc.

This is what will drive the share price up as the LONO trial progresses. First milestone of a successful Proof Of Concept trial could and should trigger a big rerating."

"Compound the effect of all these RNS’s and a February £5M cash raise could be on the back of a double digit sp."I’m looking at 1.5p e/s on a MSC commercial deal of say just 20 ships at $50 per ton ✅

Morocco is about half as big ✅

Utah can be twice as big ✅

Others unknown

Say 5.2p

But then the market multiplies earnings by a magical factor called P/E ratio

I’m thinking that will be somewhere between x 25 and x 50 depending on how novel and impactful our market entry (upon revenue) is seen to be

I think it will be high end but even at x25 on e/s of 5.2 that’s 130p value per share owned in our very early trading days

Blue chip within a year after"

"A lot of new faces here. For those that find it useful - I’ve written a small note below on why MSC are interested in BioMSAR and why, IMO, this product is such a game changer.

Quadrise’s emulsion tech enables biofuel derivatives like glycerine (a waste byproduct of biodiesel production), sugar oils, lignins, and other similar materials—lots currently being tested—to be incorporated into BioMSAR. These materials are normally too difficult or even impossible to use directly in engines and industrial applications for many reasons (eg viscosity, stability issues, generally poor combustion properties etc). They are, therefore, abundant and cheap. BioMSAR can utilise these materials (which otherwise wouldn’t have a noteworthy place in the biofuels market), producing a biofuel that can be used in existing engines and industrial applications, all whilst offering a significant cost advantage by undercutting the expensive biofuels currently dominating the market.

QED’s emulsion tech also improves engine efficiency compared to traditional fuels and standalone biofuels. This is due to the bioMSAR water content, which lowers combustion temperatures (reduces NOx emissions), and the fine droplet size of the fuel, which enables more complete and efficient combustion - essentially burning as “cleanly and efficiently as a gas”, one of QED’s key marketing messages.

Customers also have the flexibility to customise how “green” they want their fuel to be. Quadrise’s emulsion tech allows HFO to be blended into BioMSAR, giving users the ability to balance cost and sustainability by choosing how much HFO / biofuel to include.

It’s a bloody good product."

"On the subject of more RNS’s to follow in December and January….

There are two more side agreements to be signed between the four parties for the LONO trial to start.

I imagine Younes is going gangbusters with OCP to ensure the trial happens ASAP as his warrants are awarded by year end and a Gibraltar refinery is signed up. Another key position fuel hub for MSC.

Valkor don’t want to be hanging around either. They will want to supply MSC out of Houston and LA as their business model depends on it.

The SE Asia refinery ( Malaysia, around the corner from Singapore) will be buoyed by today’s announcement, seeing as Singapore is another key fuel hub for MSC.

To summarise, the imminent good news RNS’s to come within the next two months are, in no particular order.

1. OCP trial success.

2. ⁠OCP refinery supplier (Algeciras)

3. ⁠Valkor’s successful sample testing.

4. ⁠Valkor early adopter customer in Utah announced, and a local gulf coast shipper.

5. ⁠SE Asia refinery trial.

6. Two remaining MSC /Cargill/Mac2 contracts."