Member Info for Andii

Thanks gang for the correction. Glad we can have a nice civilised conversation on here keepimg eachother roght.

Correct, about £750k ($1m?) for the 500 to 750t to be sold in November.

Will be a few million $ a month "net free cash flow" (I think was the term used?) Once they reach 2000T a month sometime hopefully in Q1 2025

500T to 750T of ore being sold in November. That's worth a few million $. And that's before the stage 1 processing plant is installed - copper grades are high enough to just dig out of the ground and sell.

New mining equipment will increase production rates further. Visible gold at Kinusi could be between 6 and 12g/t gold. Nice byproduct.

Aiming for 4 producing assets before the end of the year, 2x manganese, copper and lithium.

Hoping to get several material RNS's out before the investor event in London on the 12th November.

The CEO just bought 1.7m shares on the open market

About £85k's worth.

He earns £96k a year so he just spent almost a years salary topping up over the past month. You don't often see that happening

The negatives:

Price of spodumene

Logistics issues in south africa

Projects being delayed 6-12months some times more

No effective dual listing in place yet

Poor price of Manganese

The Positives:

Larisoro operational with first shipment sent, delayed but now on track to increase capacity with new plant currently being installed to increase capacity

Kalifi manganese plant should be coming online this Q with up to " US$250,000 to US$400,000 of monthly free cash flow commencing from mid Q4 2024"

Production there can be doubled if working double shifts

Kinusi plant due to start producing copper worth $15m or more FCF/year in 1H2025

Blesberg selling spod ore and byproducts at a rate of 5000T/month once Tomra is online which should be days or weeks away

New aquasition before year end of an in production/ready to go plant

Yes Hoof, down 600. Hoping the zoom call can be arranged for tonight

Https://www.linkedin.com/posts/marula-mining-plc_maru-batterymetals-africainvest-activity-7252977974809911296-TG7K?utm_source=share&utm_medium=member_ios

Already up to 112 messages across the two telegram groups on Marula this morning. LinkedIn with 15k followers, many of them Africans who will be able to buy once the A2X link is fixed and JSE dual listing complets

Nice flowsheet showing the stages of the sulphate plant, see comments section in the below tweet from this morning

https://x.com/jb_miningafrica/status/1846854021652390054?s=46&t=LRJgtNqxgD4HJPCYmLMBZQ

Zoom call this week.

All zoomers welcome

"· Production and sales of high-grade spodumene ores and other by-product materials will continue whilst the work continues on the Joint Venture"

AUO shares-

20,628,914 outstanding of the 100m 3.5p shares from 2023. Will the rest be at 5p instead of 3.5p? If so it is effectively like saying, we are increasing the price of the outstanding warrants from 3.5p to 5p

Then there is the 47.8m shares at 10p which are still in play, fully funding Marula to 4 or 5 projects in operation.

Today's RNS reduced the overhang by 15m. Only 68.4m Q shares left from which we should get around £5.5m, £4.7m of which at 10p, a massive premium to the current share price

Https://x.com/JB_MiningAfrica/status/1846854021652390054?t=AK6v_hBkaEZilpD2X2Z8fw&s=19

"Set to produce a high value intermediary product in joint venture with Chinese battery manufacturer.

With sales prices of these product over 100 times that of spodumene ore sales it is set to have a significant impact on the Blesberg operation. "

$75,000/t? That would be 75,000 x 2000/year = $150m a year revenue

15m? Who is dumping 15m?

AUO are building a stake in Marula, there is an agreement in place whereby they won't take the company over when they get above 30% ownership.

Today's 15m shares are not being sold for a long time.

Do you understand anything about Q and AUO subscription agreement?

18 months ago the lithium price was $3000/t

That could have produced $2500/t profit

At 60,000T a year

That's $150m a year profit

At $3,000T lithium this would be 50p. And Prem would be at 1p. Kodal 300p

Unfortunately lithium is at $770/t. And there are logisticsl blockages in south africa. Should we blame Jason for both?

The Company has agreed to issue 15,000,000 new ordinary shares at a price of 5.00 pence per share pursuant to the AUO Subscription Agreement as announced on 31 January 2023 and as amended and announced on 8 February 2024

There was still £6m available According to the final results

New shares at 5p. The original subscription was 3.75p so Marula are receiving more cash for the same shares already ring fenced for development.

See 2023 RNS

https://www.aquis.eu/stock-exchange/announcements/3949540

This is a 25% premium to that agreement. Marula benefit.

Output will be 2000T a year of high grade lithium sulphate. This will require approximately 20,000T or less Spodumene. But they are using partly fines material which was previously a waste product.

This means there is still SC6 spodumene available for sale. Up to 5000T of it a month once Tomra is online.

"· Production and sales of high-grade spodumene ores and other by-product materials will continue whilst the work continues on the Joint Venture"

Next buys will be in a month's time

Jason likely back from his holidays any day now. Quick break before some big announcements? Fingers crossed

Https://x.com/marulaplc/status/1845749437575860465?s=52&t=bP4m_Zew61aH3lHN8Skq9A

From Marula minings twitter 2 hours ago

⏳⚒ Marula Mining To Announce JV For Lithium Concentrate Plant

"This partnership is more than just a strategic collaboration – it’s a technical game-changer for Marula..."

The JV partner have been working on samples sent to them from August 2023

https://www.aquis.eu/stock-exchange/announcements/4244378

This 27.5 ton lithium sample of 6 to 6.5% spodumene was sold for $3000/t and was tested and converted into battery grade material. It is off the back of that testing that the Chinese battery manufacturer wants to enter into a JV to create lithium sulphate hydroxide on site at Blesberg. Announcement on that is already overdue. The plant flowsheet has already been shared on twitter.

August 2023 spodumene price $3000/t

September 2024 spodumene price $764/t

https://www.fastmarkets.com/metals-and-mining/battery-raw-materials/lithium/lithium-prices/

The original offtake they tried to get in place by january 2024 proved difficult to secure against a lithium price in freefall.

The current offtake arrived april 2024, but still no deliveries.

From April onwords freight problems in south africa meant that rail freight and port freight are a real issue (no spare capacity)

The Tomra which was originally hoped to be on site and installed in Q1 2024 didn't arrive until Q3 and should be online any week now. This increases the output from 1000T a month to 5000T a month.

It is my assumption that when the lithium price dropped from $3000 to $1000 and below, with only the 1000T a month capacity with the Rados ore sorter, and with the cost of shipment in south africa through the roof, the decision was made to halt production from Blesberg.

They are likely waiting on three things;

An offtake agreement for the byproducts to be in place to increase revenue per tonne mined

Establishment of the Tomra unit to increase capacity and reduce costs drastically thought economies of scale

Start mining tungsten from the newly aquired northern assets

Asked about the 1m trade and also A2X. Here is the reply;

"On A2X Anchor were accepted as broker on that market but the more important thing is the link that is being established with the UK Markets which allows electronic settlement of trades within the day in South Africa - currently it takes up to 2 weeks. This will have a major impact on the tradability of the stock between the exchanges and remove a ‘barrier’ to trade.

So yes very optimistic as to the trading on A2X once this link is established later this month."

There's your NEO RNS Hoof.

BTW Jason confirmed to me the 1m trade a week past friday wasn't his buy, just to clear the air on that one

Been bringing my average down just nicely thanks!

https://imgur.com/a/uLiLU6g

£4k spreadbet positions opened Friday

Agree, quite disappointed with no Bles sales. Lithium saw the biggest yearly drop of any commodity over the last 12 months. Manganese also dropped from $5/DMTU to $3DMTU April to September.

We still have Tomra, Kilifi and a little later on Kinusi projects on the horizon to kick-start FCF this year and into next