Member Info for Andii

♣ Last quarter the 2-phase drilling program was expanded to include a further 3-holes, and we completed the expanded 21-hole Phase 1 drilling program had been completed for a total of 1,026.37m on a 25m x 50m drill spacing pattern last quarter and commenced work on the Phase 2 drilling program, which is being completed on a 25m x 25m drill spacing pattern, with the program to be completed in the next 3 weeks or so

3) Previous RNS confirm the funding but do not go into detail on the finer points or the arrangements. Could you possibly clarify this point as funding is everyone's question with all companies we discuss in here.

♣ Incorrect the RNS was very specific on the tranches of funding, the overall quantum, the number of shares and against what specific milestone it can be drawn against

♣ Subsequent RNS have also clarified this – the processing plant and equipment purchases for example confirmed that this fell under the Q Global funding

Again hope that this is clear on the processs and plans

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Back 14th december 2023 the first Ore sorter was installed and commissioned

https://ibb.co/80J5FT6

Plant optimisation continued through january as the Ore sorter must learn the Ai. 89% recovery reported - above the 80% planned.

https://ibb.co/GQr28Qc

February the 7th and new jaw crusher arrives

https://ibb.co/pbWL5qM

The CEO tweets this:

"Further to the arrival of the new McCloskey jaw crusher, new Bell B25E ADT, Kobelco SK520XLDLC-10 excavator, JCB467ZX wheel loader and the sensor based Tomra COM XRT 1200 ore sorter, are scheduled to be delivered and commissioned"

McCloskey jaw crusher

https://ibb.co/R9x65nK

Bell B25E ADT

https://ibb.co/yfMnjs2

Kobelco SK520XLDLC-10 excavator

https://ibb.co/6JV5SSQ

JCB467ZX wheel loader

https://ibb.co/yy03m4J

sensor based Tomra COM XRT 1200 ore sorter

https://ibb.co/mz3cpBc

1) When do you think that economic assessment will be completed?

♣ As above we know the numbers and is being independently verified so I can release it – believe me that day cannot come soon enough

♣ Again we have invested over the past few months over US$3.5m in new mining and processing equipment

♣ The brand new mining equipment secured last quarter included a JCB 456ZX wheel loader and a JCB JS305 tracked excavator and this was in addition to the Kobelco SK380XDLC excavator, a JCB 3CX backhoe loader, two new JCB 456ZX wheel loaders, and two new Bell B25E articulated dump trucks, that were secured and delivered to the Blesberg mine site in early Q2 2023

♣ Two sensor-based, XRF ore sorting plants (“XRF Ore Sorters”) were also secured last quarter for total consideration of approx. ZAR 40.6 million (£1.7 million)

♣ The XRF Ore Sorters have been purchased as part of the proposed expanded processing facilities that are to be installed at Blesberg and will initially include a new and expanded crushing and screening circuit, a mica removal vacuum screen and the XRF Ore Sorters.

♣

♣ The expanded processing plant is capable of producing up to 5,000 tonnes per month of a +20mm saleable high-grade lithium spodumene product from both the current stockpiled material from the historic mining activities and from the broader development plans of a large scale hard rock open pit mining operation.

♣ The XRF Ore Sorters purchased comprise a Rados SRF100-8 ore sorter with a 30 tonnes per hour (“TPH”) capacity, which has been acquired from Rados International Technologies (Malta) Limited (“Rados”) for ZAR23M (£990,000); and a Tomra COM XRT 1200 ore sorter with a 120 TPH capacity, which has been acquired for ZAR17.6M (£750,000) from Q Global Mining (Pty) Ltd, a subsidiary of Q Global Commodities.

2) How much drilling is required to be able to confirm a robust feasibility study on the asset and therefore the economics of the grade? Or are you focusing on a core element of the asset first?

♣ We commenced a ZAR26M (approx. US$1.35M) resource drilling exploration and mine planning program at Blesberg last quarter

♣ The Program was aimed at defining a maiden JORC Code 2012 compliant Mineral Resource Estimate solely on the immediate Blesberg pegmatite and which was considered sufficient to support a larger and longer-term hard rock open pit mining operation of +10 years.

♣ In addition to the drill program, airborne geophysics and multispectral satellite imaging work, exploration trenching program, geological modelling, open pit mine design study and an initial mining works program, slope stability, groundwater and geohydrology studies, environmental management studies and discounted cashflow analyses and competent person reports are to be completed.

After the 100m at todays share count, Q will own 37%

After the extra 47m Q can give us near £5m for before 2026, plus further overhang shares issued for warrants and licences to other parties, max Q ownership is then 42%

If the share price doubles or better, Q will be paying a big premium if they want to get up to 51%

https://twitter.com/AndrewMathieso3/status/1755887320295752132?t=ppFeJ0cfZL-WWfZ3oKJV0w&s=19

If Q gives us £4.7m cash for 47m extra shares, they would own 46%

There is a long list of share dilution events forecast to give shares to previous mine owners, plus 20m warrants. Q could be diluted down to 40% or less in no time at all

See the map with 51% ownership

https://qgc.co.za/

Exploration results overdue for Blesburg, and a maiden resource declaration of 8-10million tones of lithium resource has been spoken about in videos. Not bad considering the existing resource, as per map on link above, has 0.78Mt at 6%Li

So a possible increase of the lithium resource of 10x is now overdue.

Geology discussed from 5m30 in the you tube video in my 15:15 post

Here is a report on world titanium

https://pubs.usgs.gov/pp/1802/t/pp1802t.pdf

Sandstone returns 1 search result

Quarts 6 results

I think it is this video that explains the unique geology of this discovery

www.youtube.com/watch?v=sKCJ2EzFF_o

Incomparable to any other deposit in the world. Every google search for Titanium in sandstone I find, the TiO2 is contained in quarts. In crystals. It has been randomly captured over millions of years into quartz.

EEE is different. The sandstone has sucked up the titanium like a sponge then stayed in position undisturbed over the ages . Continuously over 40km.

Here is the billionaire investor soundcloud interview from 4 months ago. Talks about Maru from 14 minutes

https://shorturl.at/kpHOW

Todays anouncement had been known about for over a year.

The billionaire investor has advanced so much cash and engineering services and built the blesberg mine.

Now, over and above the original 100m shares, he has the option to buy more st today's price of 10p. That's us fully cashed and Q onboard heavily now. Expecting the floodgates of news to open now that billionaire owner of Q global are fully committed.

https://youtu.be/1KHVbe9nkfc?si=Ll7Hvog6RERKKd9u

The 100m at 3m75p was agreed when t

https://youtu.be/1KHVbe9nkfc?si=Ll7Hvog6RERKKd9u

That was the placing agreed in February when the price was 2.5p. It was a huge premium to the then current share price.... its not a discount, its historical and its why we have a processing plant at blesburg and so many other developments have happened!!! Come on mate, keep up

Tweets from the CEO today, something about deals being signed whilst JB is in capetown, and the offtake too

https://twitter.com/JB_MiningAfrica/status/1755216960395079922?t=U7Mo2SHmIeek0Nm1rRA98w&s=19

So far in 2024

End of tax year share price pressure

Overhang of warrants

All of january had no big RNS

Sorry, didn't do the maths. Thought Hoof had implied that the 40% drop was from xmas when he said

share price down since xmas & thats right fella, down 40%

So let's look at that, in the last 12 months

the low to the high is 260% rise

the low to now is just over 120% rise

the high to now is around a 40% drop

the last low after the high to today is still over 25% rise so buying the dips would have done you very well.

Actually, the share price hasn't moved too much from back in March 2023 which is incredible really.

This is a pre-revenue junior mining without any JORC's yet released, it is always going to be a roller coaster.

Blaming an enthusiastic CEO for a drop in share price when his predictions on timeframes is fine, but from a fundamental point of view, all the massive re-rate news is just about to arrive so I don't see the point in starting name calling, making accusations against management when they are what, just over a month late with their predictions?

Odd behavior.

Taken from a post on the EEE board this morning

'Everything you buy in 2024 (whatever price) will be worth far in excess down the road. As Warren Buffet says, when a company’s fundamentals go up, but the SP goes down, he’s delighted to see it & buys more."

So billionaire investor arrives after you invested - tick

You are sitting on a 88% profit for a year - tick

No promises were made in RNS about a timeline for offtake- but we know it is all signed up my Marula so we just need to wait - tick

Financial figures indicate between £20-40m free cash flow from the first project which could start from this month - tick

Market cap currently les than projected 2024 FCF - tick

Management keep buying shares and taking shares in place of wages - tick

Share price down 40% in the last 10 days and we should not trust management and fill this board with doubt??

Sound's like you maybe want a lower price

Recording date: 6th February 2024

Junior explorer Empire Metals has made waves with its recent discovery of high-grade titanium mineralization at the Pitfield project in Western Australia. Initial drill results reveal extensive near-surface deposits that could be amenable to simple and low-cost processing methods.

As Empire Managing Director Shaun Bunn stated recently, “We’re not a low-grade sand mineral operation or a complex hard rock mine. I think we can define a fairly simple processing route now.”

This combination of scale, grade, and potential cost profile makes Pitfield a prime takeover target for titanium developers looking to secure supply. For investors, it also provides leveraged upside to rising titanium demand and prices.

Last December's 40-hole, 5,718m drill campaign intercepted broad mineralized zones. Significantly, Bunn notes, “every hole from top to bottom [was] in titanium mineral.”

High-grade intercepts begin at surface and extend beyond 400m depths. Three diamond holes encountered over 300m of continuous mineralization grading up to 26% titanium dioxide.

With the immense mineral system confirmed, Empire has moved to metallurgical testwork and flowsheet development under newly appointed Process Development Manager Naurel Marriott.

The goal is to devise a simple beneficiation process leveraging the high natural density of titanium minerals found. This may involve low-cost gravity and magnetic separation before final upgrading.

To lead these efforts, Empire has recruited two industry experts with over 72 years of cumulative experience specific to titanium. Initial lab and pilot testing over the next 6-12 months will pinpoint the optimal recovery process.

Rather than expend effort on a formal resource estimate at this stage, Bunn’s priority is to demonstrate commercial viability. Within 18-24 months, he hopes to have an on-site pilot plant operating.

As Bunn explains, “let’s not try and drill this thing out and have a JORC resource because that doesn't answer the fundamental question - how do we get the titanium out and what do you make once you understand that?"

With positive metallurgy results, the timeline from demonstration plant to development could be compressed. The recent $3 million financing provides a runway through these studies.

For investors, Pitfield represents a unique entry point to the titanium space, just as supply shortages are forecast. As the world moves aggressively toward decarbonization, titanium will be one of the metals most critically in demand across green energy and EV applications.

In Pitfield, Empire controls what may shape up as the most significant undeveloped titanium deposit globally. The next 6-12 months will go a long way in quantifying just how significant.

From the scoping study you supplied;

https://minedocs.com/22/Titan-PEA-6292022.pdf

This other USA company, Iperion X - what I noticed from the document;

They were able to define a JORC mineral resource of just under a billion tonnes of mineralised ore after only 107 drills.

EEE currently at 64(ish) but the next 40 will be mostly closer spaced in target areas (including 4x diamond drills)

From Iperionx-

"The Mineral Resource is based on 107 drill holes totaling 4,101 m, and occupies an area roughly 6.2 km (north) by 3.6

km (east);"

"Production target of 243 million tons of mineralized material over a life of mine of 25 years"

(EEE have so many billions of tons of mineralised material, EEE are in a different league volume wise)

Clay was mentioned, which is more difficult and costly to process

" In the FPP, the feed is de-slimed to separate clay and the sand. The slimes are directed to the thickener where they

are thickened and then filtered."

The actual titanium content is low, contained in sand. This is more of a rare earth deposit with more expensive mining and processing costs, although it is a great piece of work and looking forward to the EEE version from the same author.

It's only dropped 40% in January. January is tax deadline and xmas hangover month which is always a risk on a low liquidity share when there is no big january news items.

Great entry price, wish I had found you now and not in december (thanks to Jason for his info on the Hive group that got me interested)

Estimated £68k buys vs £25k sells today

i spoke with him on the phone for half an hour back in december.

the share price has risen 83% over the past year, but i am sorry that progress hasn't been as fast as you has hoped.

admin expenses were around $50k a month back in december so actually, you could argue that the progress made to date is quite incredible compared with the staffing costs.

if you have been following closely, jason has covered thousands of miles over the past week and has attended numerous meetings and conferences.

the big ticket item, the offtake agreement is out-with jason's hands now so we are at the mercy of the offtake partner.

you do know that the modus operandus of merula has completely changed over the past 10 months due to q global's involvement. *****on himself is quoted as saying that it would have taken marula two years to acheive what they have done in 9 months.

the share price and the fundimentals are two totally separate entities. the share price has risen 83% but the fundamentals have risen perhaps 10x. from first site visits to fully funded processing plant and operations in under a year just doesn't happen in the mining industry. surely you are aware of the progress unfolding????