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There's definitely some truth in the Kamran Sattar story. I did some investigating when he said it.

ATM did do a placing in June 2018 at a price of 2.7p - so his claimed price is believable.

Kamran appears to act as an advisor, and two of the people who he seems to advise are Brendan Kerr and Stephen Pycroft. They were all in Bushveld together, are now all in Reabold Resources. In 2018 they were in ATM.

After the June 2018 placing, Brendan and Stephen were listed as owning 25 million ATM shares each - so pretty significant stakes.

If they've been selling down, it's easy to see how it could have had the effect we've seen.

Unfortunately, I just assume the worst from Fryer.

The tweet says "This is video is 1km outside the Molulu camp", and "this road can easily allow 40-tonne trucks".

I understand some people want to read that as "there is only 1km of road left to complete" and "ore can now be sold as the OM Metals 40-tonne trucks are on the road".

That's not how I read it, as to me, that's not what it says. If there was just 1km left to complete, he could easily have said that. In fact, it would have been more natural to phrase it that way, but he didn't.

If OM Metals trucks are ready to collect ore - he could easily have said that, but he didn't.

This morning we get a video of the bridge - with no context at all.

I just don't get it. I might read too much into the words used, but I think CEOs should be careful what they say, they should mean what they say, and they should take care to ensure that what they say can be clearly understood.

There is also the Kamran Sattar story to consider.

In the Andrada Telegram group he claims to have been a large seller over recent times, having been one of the very early stage investors with an average of 2.7p.

He claims to be a friend of AV, and was onsite in UIS for the first mine blasting (he shared videos) and he still seems to think Andrada is good company, but he sold because he wanted to invest in Bushveld. Sure enough, on 28th June there was a TR1 released showing he'd personally bought 6.11% of BMN, and holds more through his Portillion Capital investment vehicle.

He does also say he suspects a future re-merger of BMN and ATM. From what I can see, he doesn't seem to have a great track record of predictions or large investments, so make of that what you will.

Whatever his views, it does seem to explain some of the selling pressure over recent times.

It’s a dreadful tweet because this road is a key path to revenue for a listed company that has had a difficult past. Communicating in a vague manner, and hinting at things which might not be what they seem, is not a straightforward, honest way to behave.

You, in your own words, are having to assume things, and that’s not good.

Dreadful tweet.

At least it shows they’re alive, but doesn’t explain a thing.

The lack of updates is strange.

Since the roadworks started on 29th April, there's not been a gap of more than 10 days without a road progress update - in fact sometimes in May and June there were updates every day.

There's now not been one since 28th June, so 26 days now without an update, which on a 90 day project is quite a gap given the way the updates started.

It's probably too much to just assume there's a problem, as it's still within the 90 day timeline (ends 28th July), but given the history with CRTM, the sudden silence is a little concerning.

In my opinion it's not those that have affected the share price here though. It's the Strategic Process which was announced around the same time and has so far, 14 months in, delivered nothing, and yet must have been a huge distraction for management.

I do think something must surely be in the works with the Strategic Process for some news soon, given the recent deal to buy out the 15%, and the comments by AV in the interview post the recent quarterly results. He did say - "this won't only be a financial partnership, it will be a technical partnership". I might be reading too much into the words, but to me it sounds like there's the outline of an agreement there. He's saying "it will be", not "we're hoping for".

I'm hoping some news on that front is enough to get some movement over the next few months, otherwise it's a long wait until we get the positive revenue impact from the ore sorting from April 2025.

Yes, including the typical Russell style of quoting fabulous grades, and then at 20mins 20secs saying - "Now, I'm not suggesting that's what we're going to mine". Why quote them then ?

If Russell is able to produce even one 40 tonne truckload with an average of 30% grade copper ore - I'll parade around Molulu naked wearing just an "I Love Russell" hat.

@Dicko80 - I wouldn’t get too excited about the prospects for finding 30% copper grades.

There was no real information included with that “highlight” but the previously reported 13.02% grade turned out to be a 2cm depth !! Not worth the fuel to extract it.

There’s an offtake to supply 1.5% grade - let’s see how that pans out first before getting excited about 30% (which would be 6 times the highest grade copper mine currently known in the world).

@AIMing_high - The RNS states he owns 8,261,211 shares, why do you think otherwise ? What am I missing ?

@Iknownuffin - well, at least you’re qualified to talk about unsubstantiated nonsense.

Let me remind you of May 2023 when I said Molulu was a long way from producing meaningful revenue.

Your response was “The reality is we are weeks from revenue which is meaningful to the company.”

How has that played out ?

@katstrangler - Thanks, a few of those today were me :-) Very easy to move the price of this.

In for the road bounce, hopefully.

Great interview here from this morning (different from the Proactive one)

https://www.youtube.com/watch?v=GzerFgiiQLw&pp=ygUPZm9jdXNpciBhbmRyYWRh

Av fully acknowledges the "chatter" and frustration around the Strategic Process and explains why todays RNS is so important.

I wouldn't be surprised to see SMU selling it on at some point to Askari.

Look at the location of ML129 - it's surrounded by the Askari licences.

https://www.askarimetals.com/our-projects/uis-lithium-project/

I only just noticed - those monthly payments are at a fixed amount over the next 20 years !!!

With inflation, they will in effect reduce each year until they're pretty nominal.

That's a great payment term.

@pekingduck - I understand your point, but this seems like a good deal. An immediate 15% uplift in all future revenue , and reading between the lines, the minority shareholding seems to have been delaying something with the strategic process.

I'm happy with this. I just don't understand why the announcement couldn't have been "stage managed" better to avoid some of the wording in Fridays quarterly announcement and the pain it caused to the share price.

Anyway, plenty of strong buying this morning.

He still might.

For all you know, that eye-watering offer might be dependant upon 100% ownership of ML133 and ML134, which we now have.

Would seem to clearly show there actually is something bigger in the works - which is something we were all starting to get concerned about.

That’s good, but just beware they’ve got the numbers wrong in the table before the conclusion.

They’re using 2,600 tonnes per half year, but ATM have said it’ll be 2,600 tonnes per year. So they are basically doubling the tin revenue from what it will actually be.

(Joke)

- First truck went to OM Metals this morning

- It was Russell buying with the proceeds of his previous sales

- He’ll disclose it at Christmas