Member Info for BenAlder

As set out in the Announcement, the Company will use the proceeds for the following activities:

· Preparation for Disko 2025 fieldwork as well as stakeholder engagement; (sharpen pencils and call Kobold.)

· Preparation for White Flame Jameson Environmental Impact Assessment and drilling consultation; (Fill out the form and tick the check boxes. Call a mate.)

· Resampling and partner engagement at the Company's Outokumpu industrial gas asset in Finland; (Go for a boozy weekend and spend half a day wandering the site, if its wet we'll just get the map out. A few phone calls to fellow Del Boys in the industry.)

· Site surveys and regional sampling at the Company's Thule Copper project; (Another jolly with a couple of short days wandering about and picking up any pretty rocks they find.)

· Continued maintenance and engagement on Hammaslahti a historical state owned copper mine in Finland; (Got to keep paying the bills until they can sell it.)

and

· General corporate and working capital purposes. (Well they need a decent wage while doing all the above as well as buying shares. Should see them thru to January and the first placing as 80Mile. Wait until you see how much they will be asking for if they decide on what to actually drill!)

The Indian government projects that steel demand will grow by 8% in 2024 and 2025, primarily driven by ongoing infrastructure development. Since 2021, India has emerged as a key player in global steel demand, and this trend is expected to continue with robust growth across all sectors that utilize steel, particularly in infrastructure investments. In the first quarter of the financial year 2025, India produced 36.61 million tonnes of crude steel and 35.77 million tonnes of finished steel, with total steel production reaching 72.4 million tonnes, an increase from 68.5 million tonnes in the same period the previous year. Steel consumption per capita has also risen significantly, from 59 kg in 2013-14 to 119 kg in 2022-23.

In 2023, India produced 140.2 million tonnes of steel, making it the second-largest steel producer in the world. The country’s domestic steel-making capacity is projected to reach 300 million tonnes by 2030 and 500 million tonnes by 2047. This consumption growth is expected to be fuelled by increased government spending and urbanization. The government has introduced the Domestically Manufactured Iron & Steel Products (DMI&SP) Policy and the Production Linked Incentive (PLI) Scheme for Specialty Steel to support the sector further.

https://www.ibef.org/news/india-s-steel-demand-to-grow-by-8-annually-in-2024-and-2025-steel-ministry

I'd say its more to do with the fact that local consumption has dropped due to no more property and infrastructure projects of previous scale. Relying on exports. Not going to be a big demand for rebar.

The worlds/Chinas biggest steel company has warned of severe problems ahead:-

https://www.msn.com/en-gb/money/other/global-steel-giant-warns-of-severe-industry-wide-crisis/vi-AA1oNW29?ocid=winp2fptaskbarhover&cvid=e8fc687a42274949bd96593e7ee9a2c5&ei=67

Rob our Indiana Jones of geology, Del Boy of AIM, has a plan!

An experienced geologist and appointed qualified person, after analysing the minutia of all the old data sets has discovered new prospects within them of hydrogen, helium and titanium hitherto overlooked. Add in Disko and our portfolio overflows with riches.

There are also apparently, so many avenues to funding between the EU and partnerships waiting to come out of the woodwork, I tell you Rodney, this time next year we will all be .......!

Something completely different. Have you listened to 'The £6 Billion Gold Scam'? Make you trust what miners say as much as Mark Twain did them.

https://www.bbc.co.uk/programmes/p0hv1p87

Exactly, so only a tier 1 resource is going to be considered and probably only when prices are high enough to cover the high set up and extraction costs. They will be mined eventually, when all the low hanging fruit is gone.

However they need to find these resources in the first place. Disko could be one of those finds. The excitement of a significant discovery will draw the speculators in who will ignore or not realise the geographical implications. That's when to bail, don't wait for the build. eg Dundas.

They have to generate interest to fund future drilling and growth, else this will stagnate and be diluted yearly just to pay wages. Rod is doing this and, I'm sure, keen to explore as fast as he can, and seems to be trying to fund it in other ways than by placings, ...so far.

I expect them to drill Disko next year with or without KoBold or some other partner. They need to progress this if there is no action elsewhere. If it is supposed to be a potential tier 1 asset it only needs a couple of holes to see what is there and how rich the grades are in the first instance. Same for the Helium prospect, but I doubt they can afford both unless a partner is brought in. Rod did say to Sarah in reference to WFE assets that "the right people would appear at the right time." - Some old mate in mind?

They are slowly refining their plan for 2025 but we are yet to know just what that is and how it will be funded, but there is potential to find something significant and bring back the herd. I'm starting to feel a little more bullish now but need more info on funding for 2025.

Those mineral grade percentages seem rather underwhelming.

Gordonbennett - I told you so! Bought some here with my BMN shares on Friday. Nice to get a bagger so soon. Glad you recovered your loss quickly. This has legs I'll agree, another bag or two anyway, I hope. ATB!

Keep telling yourself that Marc001/NatResInv as you continually have. Trolls are always wrong.

You had an avg of 12p in Nov 2022. What is it now with your £160K worth of shares? Like the man said - "You got to know when to hold em and when to fold them." What price are you folding? Same time as the company, lol! Glory or Bust seems a strange strategy. Best of luck to you. You should buy some more too.

I wholly agree with your point. Buying a large position for the long term is madness for the reasons you've shown. AIM market doesn't help either.

But... Once the funding is sorted. Only the directors can make money on desktop studies, shareholders need drills turning. They will need to raise before next summers campaigns unless incredibly lucky with JV's and asset sales. Perhaps a raise and consolidation with the 80Mile launch as has been suggested previously. Once cashed up and with a fresh start they can really go to work pumping (metaphorically) the assets and there will be some money to be made trading the new company cycle, as the Boys rinse and repeat the last decade all over again.

Bet safely!

No I don't. Whist welcome it is no more than a short term reprieve and extension of rope. Some hope for the blind faithful. No actual change to the overall issues or value adding. Everything hinges on a vanadium price recovery to over $40kg. Not so much if, but when? Looking at the global picture probably not until next year and that might be too late. Fridays end of trading suggests that SP has already peaked in response to the news. Accounts wont help attract new investors. Traders will bail at a penny (if it makes it) and the SP will reverse and resume its ever downwards death spiral. Just an opinion. We'll see as you say. Best of luck! You should buy more. Not advice!

"Funding not only received to progress operations which were in jeopardy but a huge extension with the forward dated repayment element."

Well if Craig's hysteria is to believed anymore, he warned that the Vametco plant may have to stop production soon because they are unable to find spares.

"Furthermore, sustainable production at Vametco is currently being impacted due to its inability to procure critical spares. " - From Mondays RNS.

Last thing they need now is stoppages with the +£100M debt that is growing everyday.

And when do you see the vanadium price recovering to the extent that enough profits are being generated to service that debt and the high annual capex required to run the operation.

What stage or amount of debt being carried will Craig either halt operations or try and raise further funds to prolong the suffering and decimation of small shareholders?

Sorry if you are aware of all this and are just waiting to trade out tomorrow at 1p, if it gets there.

Ridgewalker - Yes thanks for bringing back old memories. AE, Did it twice, second time in winter. I had some mad adventures back then. I've always been a bit of a risk taker but along with the climbing, years ago, I'm giving up my AIM gambling now before that kills me. Fallen off too many ridges recently lol!

Stay healthy and get rich slowly my friend in County Leitrim. Slàinte Mhath!

PS This really is a dog!

Well I was wrong, saved to fight for another day.

Will the funds be received in time, this time?

Will there be support at Xmas when these funds are done and the creditors are back at the door? Assuming V prices haven't recovered by then.

Did he get any spares yet?

Not changing my tune on the future. Take the money.

Best of luck you gamblers. I'm out.

@Ridgewalker - Been there done that. Not so brave anymore, knees done. ATB!

@Bonxie -Firstly I suspect SPR have achieved their goal in buying Vanchem. However, along with other bidders they could make an offer for what is left. The administrator will sell to the highest bidder to get the best it can for creditors. Some creditors may not get anything as Orion and bond holders will be first in the queue. Shareholders will be wiped out.

Orion still has royalties which will go along with the plants unless bought out in the deal. So they don't care really.

Craig is desperate to close this place rather than allow the debt to get bigger. His every act says so. Last chance to sell before suspension and Craigs on the phone to the administrators rather than the lenders and solicitors to buy time. I bet it never trades again after today. Take the money and run.

If this was America someone would be suing someone $000M's for the delays in payment which Craig keeps blaming for all this mess. His decision making is also high questionable too.

KS and Acacia decided to vote for the deal. Acacia was bribed by giving them an extension for the money owed and

needed right now and KS told something to change his mind and buy more now. They may be privy to what going on but we are sure as are not, but it is playing out by someone's design as far as I concerned and this is going bust and private.

Maybe he is one of WildTigers customers!

They have about £90,000 worth of shares (1.88M). No doubt they will be sold very soon now that MUST has relisted.

I doubt that they would want to bring too much scrutiny on themselves. Their history, behaviour and connected relationships are questionable imo. Certainly red flags. Hence the new name.

No one is going to take Dundas seriously without further drilling. There will be zero confidence in the MRE's. They don't really see any great value there themselves or that would be a priority over prospecting.