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A list of items JbB is working on today.
https://twitter.com/JB_MiningAfrica/status/1768547191822377344?t=cAsXkFbb5sVCRodEcHvHgg&s=19
One of them being "RNS's final edits"
Wouldn't want to be sitting on the sidelines over the next few weeks!
Key offtake interview takeaways:
"Finalizing Offtake Agreement: Marula Mining is finalizing a long-term offtake agreement for spodumene ore from the Blesberg Mine. They initially worked with Traxxis but terminated this for a more long-term arrangement."
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"European Partnerships: The company is focusing on European-based groups for the offtake agreement, citing cultural fit and regulatory transparency in Europe as key reasons."
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"Selection Criteria for Partners: The criteria for selecting a partner included international market access, logistical capabilities, and strong personal relationships. They narrowed down to two groups, eventually choosing one based in Switzerland."
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"Market Challenges: The process was complicated by a significant drop in spodumene prices in the last quarter of 2023, creating challenges in finalizing the deal."
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"Long-Term Agreement: The agreement is for an initial three years with an option to extend for another three years, covering 100% of production."
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"Operational and Tax Considerations: The agreement involved considerations like VAT, royalty, and export purposes, leading to a shift in the counterparty to a South African subsidiary for tax efficiency."
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"KYC and Banking Details: Finalizing the agreement also involved resolving Know Your Customer (KYC) compliance and banking details."
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"Future Plans and Confidence: The agreement is seen as a long-term transaction that underpins Marula’s operations and provides confidence to investors and shareholders."
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"Focus on Single Party Offtake: Despite receiving over a hundred inquiries about their product, Marula chose to align with one group for operational simplicity."
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"Progress and Future Developments: Marula Mining has made significant progress in a short time with the Blesberg project and is focusing on other key contractual agreements. They are also working on expanding their operations in Kenya and South Africa."
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"Upcoming Developments: The company is expecting the arrival of the Tomra unit to increase capacity at Blesberg, and they are awaiting exciting results from their graphite exploration in Kenya."
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"Ongoing Projects and Listings: Marula is actively working on various projects and plans to complete listings in Nairobi, South Africa, and London within the next four to six weeks."
Https://twitter.com/JB_MiningAfrica/status/1767803551890198762?t=WDcnOSqhwfU-5Q4oi69cDA&s=19
Lots of good news recently on our graphite interests in Tanzania and investment in manganese in Kenya.
Investors also rightly wanting to see the overdue RNS on the offtake on our Blesberg Lithium and Tantalum Mine.
Rest assured news to come 🙂🙂🙂
@MarulaPlc #MARU #ItsComing
Blesburg Lithium mine alone has had £1.1m spent on exploration (in 2023)
November 15th RNS:
"The approx. ZAR25 million (US$1.35M) resource drilling and mine planning program continues to proceed well and is both within budget and ahead of schedule"
December 6th RNS:
"The Phase 2 drilling program has now been completed with 21 diamond drill holes completed for a total of 1,250.00m drilled"
"The combined Phase 1 and Phase 2 drilling programs were completed ahead of schedule for a total 42 diamond drill holes for a total of 2,386.67m drilled"
"Phase 2 diamond drill cores and additional samples in the granodiorite remains on track to be completed in December 2023 with assay results expected to be received in Q1 2024"
"Mineral resource estimation is underway and the Competent Persons Report are being prepared"
"Release of the assay results from the Phase 1 drilling program and JORC Code 2012 compliant MRE is expected in January 2024
The Phase 2 drilling results, once received in Q1 2024 are anticipated to increase the confidence level of this JORC Code 2012 compliant MRE and further expand and confirm the extent of the lithium mineralisation"
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Sounds like we might very soon get a lithium maiden JORC based on phase 1 + phase 2 results
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Page 20 for money spent on exploration and mining equipment
https://marulamining.com/assets/files/qglobal/2_Rule_9_Circular.PDF
This does not include other machinery purchased on hire purchase under new equipment credit agreement
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Todays video talks about the CPR for the graphite asset being released by next week.
Q global CEO the billionaire very bullish on marula and was anticipating dual listings and offtake to be complete by the end of the year. I guess even successful billionaire mining entraupener's get the timeline wrong too. Should we start calling Q u I n t o n Rodney?
https://youtu.be/j5VOfPzrxCo?si=yjBNuQJUIKTdIDG9
They (Q global) have however committed to further exploration and development funding, see RNS January on Tanzania exploration budget approval
https://www.aquis.eu/stock-exchange/announcements/4435809
Here is another interview with Q u I n t o n, this tike shorter. Talks about Marula having some of the best assets he has ever seen. And he knows his mining. "Marula is currently 20 or 30x undervalued" - that was at a share price of 9p in October
https://twitter.com/Share_Talk/status/1715295384090624071?t=d9GpyOj45V5PXJKxwdQEiw&s=19
And let's not forget, in a year marula have carried out first stage exploration on four separate mines, increased the Lithium asset area by 80x, collected the ourchase and building of mining equipment for 2x mines, one copper and one lithium. And become the first miner in the world to prove successful dry processing of lithium.
They have also now almost completed four Competent Persons Reports on four separate assets
New video out
https://youtu.be/RefRu-FcuSk?si=acGj53BSsIGaqhdk
Sounds like they are accumulating these key assets where they already know the assay results - before announcing them! Operating under the radar!
Maybe the offtake agreement is being slow balled by design?! Wow
Here is the interview with the new 30%+ shareholder
https://youtu.be/j5VOfPzrxCo?si=yjBNuQJUIKTdIDG9
He got the timeliness wrong too. And he is after the dividends to start probably more than anyone else
This looks like very high grade jumbo graphite. (Today's tweet)
https://twitter.com/JB_MiningAfrica/status/1767452198844109214?t=-BdsuMqXsLF_RL_GWuB3Bg&s=19
RNS just released.
https://www.voxmarkets.co.uk/rns/announcement/d122515a-744e-4fed-a199-5438cb9de12b/
Results from phase one exploration due soon.
Here is an example of what the graphite licence holds: up to 90% graphite in places.
https://twitter.com/JB_MiningAfrica/status/1726594047870222833?t=5dmAjUyIz9QdRNVJYX21yw&s=19
https://twitter.com/JB_MiningAfrica/status/1650053548372029440?t=KhPzggtPKySqJqX9azvK-Q&s=19
https://twitter.com/JB_MiningAfrica/status/1649694380230320128?t=fwk6WXWYyeXcHceITVM4Mw&s=19
My last comment was being sarcastic wishihadnt due to the tone here recently.
All I know for sure is, revenue in 2023 = nill
Revenue in april 2024 with two producing assets should be over £1m with a gross margin over 50%.
Those crunching the numbers will see incredible growth from 2H 2023 into 1H2024 then into 2H 2024. Hopefully we get updates on revenue quarterly starting from April for anything earned in march. $$$$$$$$$ =o))
Spot price for super jumbo 95% purity is around $1750
Spot price for small flake 95% is around $600.
https://blackrockmining.com.au/quarterly-activities-appendix-5b-cash-flow-report-6/?doing_wp_cron=1710142912.7765378952026367187500
There was talk on here that TSG may have been the customer that have tirupati $1m prepayment in August, in exchange for a 10% or more discount I believe?
I'm not sure where you get all those figures from as quantities sold to individual customers is condmfidential.
Was it TSG that helped with some of the technology to build 30ktpa plant for $17m? Or was it another company? Some graphite miners are having 17ktpa plants built for $50m don't forget so whatever you think you've found, there is also incredibly cheap capex to consider. Outsourcing is not a new phenomena and the figures you are suggesting aren't huge. The TGR total admin costs is around £2m a year which again for a company on track to make over £10m revenue is pretty competitive when considering competitors.
Anyway here is that video again. One of the better use of this message baord is for sharing informative videos and articles on the titanium industry. This one featuring another titanium explorer at early stages run by an Australian company.
https://audioboom.com/posts/8466190-midweek-takeaway-with-sapan-ghai-cco-of-sovereign-metals-and-charles-archer-long-term-ftse-aim
Can't believe I'm being harrased on etiquette by a grammar nazi. Bit hypocritical!
No idea wishihadnt, I guess it heavily relies on the ramp up speed of blesburg, lithium price, average grade and how much they can get for the byproducts. And once free cash flow is achieved, how rapidly they choose to expand.
For once I'm not going to do any calculations as they don't appear to be too popular 🤣
Bulletin board opinion is now discouraged. Only facts from official independent reports are now considered acceptable.
Revenue will most likely arrive before these reports are issued, but we can't trust revenue alone until we see the official independent reports confirming the resource sizes and the economics. Kind of a catch-22 really
GGP journey from 0.5p to 38p took around 2 years. At their peak valuation of £1b they only owned 30% of their discovery and were still 4 or 5 years away from production.
EEE is only 10 months into the journey.
Here is a podcast on sovereign metals discovery. Really interesting what they are saying about the upcoming shortage of titanium.
https://audioboom.com/posts/8466190-midweek-takeaway-with-sapan-ghai-cco-of-sovereign-metals-and-charles-archer-long-term-ftse-aim
Also,.if your a geek like me and enjoy reading other companies feasability studies, you will notice that sovereign require 3Giga litres of water per year, enough to fill 1200 Olympic swimming pools. Much of this will come from rain water but they will take from the local river also to top up their dam.
As Sean B said in his latest interview, the soft mineral sand miners need to mine 10x more material than we do as their discoveries are usually around 1%TiO2.
Back to mining companies, some catalysts are usually JORC, feasability studies and TR-1's from institutions.
* Any new lithium mines brought on stream in that S.Africa/Blesberg area would be fed into the Blesberg machinery;
* Graphite - could look to do a quick DSO product to get revenue or they may try and get a higher value product to take advantage of the jumbo flake prices. Balance of quick to production Vs not giving away too much value too quickly
* Zimbabwe & S.Africa really good for copper and lithium projects. Tanzania & Kenya great for critical minerals.
* Nickel - very few nickel sulphide projects around. Tanzania is a possibility.
* Manganese - looking at a project in Kenya
* Aspiration to have cash generating assets in both S.Africa and E.Africa so they can operate each area independently * Important to consolidate Marula’s position and they want to increase their positions in S.Africa & Zimbabwe as they have a very good S.African team.
Posted at 22/2/2024 11:54 by gasman10
* Offtake not yet signed. European company based in Switzerland. Got a meeting on Monday and if no positive outcome will look to take an OT forward with another party. Lots of interest. 2 in particular and 1 is keen to invest to produce a carbonate product. OT’s generally specify a 5% minimum product and the price can be higher for better grades;
* A different project is under review for potential production in Q1;
* Kinusi scheduled to start producing in Q2. They are looking into options for copper cathode in the future to maximise revenues and not let too much value go early on;
* There was 36k tonnes of stockpile at Blesberg last year and that’s increased by around 40%. The Tomra should arrive early March and should not take too much commissioning - operational second half of March hopefully;
* Korridor is really good but they have 3 other lithium projects under review - 1 of which is adjoining Blesberg!!
* Copper OT’s are already in discussion;
* Listings will go in the previously suggested order:-
- NSE approx w/c 11/3 - Fader Investment Bank to confirm when submitted the listing document and NSE to confirm it is acceptable - then good to go;
- JSE quickly after that as the NSE is the gateway into the JSE;
- LSE hopefully in Q1 as well but following the other two and we need to meet the £30m requirement.
* The Tomra takes 5 x the material of Rados and they are looking to use in series together. Tomra first to remove the other minerals and then leave a cleaner spodumene for the Rados to process;
* Newsflow: no need for any concern - Jason has been in 3 days of negotiations but RNS’s are being worked on and May have announcements end of this week and through next week;
* Q is very happy with progress. He is busy finalising his billion dollar fund in the Middle East and US but is keen to accelerate development into alternative metals and minerals;
* Blesberg - assay 1 is due 1st or 2nd week in March ish. Assay 2 poss end of March;
* Dividends are important to Jason as a major shareholder and it is not just a box-ticking exercise for the NSE. They have full intention to pay divis when cash flows allow;
* Deals - in South Africa and Southern Africa - relating to copper and lithium. RNS’s soon!!
* Once production and revenues start, they will be looking to move away from share based acquisition payments to cash based payments;
* Blesberg - down the line we could look to move into battery manufacturing to maximise revenues and Eastern Africa is positioned well to be a battery hub!!
* CPR’s are complete for:-
- Blesberg
- Nkombwa Hill
- Kinusi
Graphite CPR’s are being completed asap. All of the CPR’s are needed for the LSE listing
* $406 AISC - so we are very comfortable at these current lithium prices
* Value of bi-products from Blesberg will exceed the operating costs of the mine ?
* Any new lithium mines brought on stream in that
â—¦Updated presentation will be released and will include numbers on both Blesberg and Kinusi - operating/mining processing/admin and revenue streams and margins (This is potentially delayed due to new input from Jana changing the Kinusi economics)
â—¦Lithium oftake agreement Lithium (Monday/Tuesday)
â—¦Blesberg phase 1 results / JORC statement â—¦Blesberg Airborne survey results â—¦ Blesberg Satellite survey results â—¦Kinusi Phase 2 drill plan/commencement (Hopefully an announcement soon, might be included in a more general operational update)
â—¦Tomra COM XRT 1200 ore sorter arrival at Blesberg
(Expecting this in the last two weeks of march)
â—¦Blesberg non Lithium arrangements (Likely not until the non lithium sample results come back)
â—¦Korridor update â—¦New Auditors and expanded finance team â—¦Nyorinyori and NyoriGreen phase 1 staged share payment â—¦Nyorinyori and NyoriGreen phase 1 results â—¦Nyorinyori and NyoriGreen phase 2 exploration activities updates â—¦Zimbabwe Lithium â—¦Kenya Copper â—¦Kenya Lithium â—¦Bagamoyo update â—¦Bagamoyo phase 1 staged share payment
â—¦Bagamoyo expansion? â—¦Community engagement updates â—¦More Exercise of warrants
â—¦Environmental, Social and Corporate Governance update? â—¦ Research / Brokers note (Could land at any time)
DISCLAIMER - All of the above is my personal view and not company endorsed