Member Info for bohercom

Trying to reduce impact of them by after market close release as well.

The games continue.

>>> "The estimated date for this to happen has shifted from FY25 to CY25, big difference, carefully concealed."

I hate the way they do this. Referring to the expanded pre-concentration circuit, on 12th March they said “Commissioning of the circuit is planned for Q1 2025.” and then Fridays update said “commissioning commencing in April 2025". "Commencing" - so will it take 5 days or 5 months from April 2025 ?

No explanation, no details, no acknowledgement that it's been delayed by something. It's just changed, and it's as if they hope no-one will notice. Obviously they're not going to communicate every detail of what they do, I wouldn't expect them to, but this is the major expansion project that will (hopefully) transform profitability. More clarity is needed.

It's the same with the "CI2" initiatives they keep referring to in the updates. I've asked them numerous times over the past year what those initiatives are - could they just give us 4 or 5 lines on what the scope of CI2 is and what the timelines are. They just won't tell me for some reason. They keep mentioning it, but won't explain what it is. I thought perhaps I'd missed the details in an RNS or presentation so asked them when I could find details - they ignored my question.

All comes back to the communications again.

I used to get a reply from Investors Relations, and AV had forwarded some of my previous emails internally to get answers - but I've had nothing from them in over 6 months.

Only way I get a response lately is from Charles Vivian - he's very responsive.

Any shareholder who thinks the current communications and strategy aren't working should contact the company to express their views. I have done this several times over recent months, and have again today following yesterdays update.

To be told for 13 months that a Strategic Process is "progressing well", and then to completely change the scope of it with no further information is extremely poor.

To be told for a year that the petalite output from the lithium pilot plant would be sold, and told in Nov 23 that discussions with a ceramics offtake partner were "progressing well" - and then for this update to say there will be no commercial production from the pilot plant until at least after the pre-concentration circuit work is completed next year - again very poor.

To be clear, I'm still a believer in the long term growth story here - obviously, otherwise I wouldn't still be holding and topping up. Operationally, I think they perform great. Communications and Strategy however are currently abysmal.

If you feel likewise let them know :

Financial Public Relations - charles.vivian@tavistock.co.uk

CEO - anthony.viljoen@andradamining.com

Investor Relations - investorrelations@andradamining.com

Head of Investor Relations - Sakhile.ndlovu@andradamining.com

Agree, I topped up again this morning.

Operationally all is as expected, they always seem to deliver, but this damned Strategic Process is killing us.

The comms around it have been appalling from the very start. Let's not forget, ATM themselves said in June 2023 - "The entire strategic process is targeted to conclude at the end of September 2023."

There has been no meaningful update as to why it'll be a year late, and why the scope has now changed - that's just no good enough.

All good news. Not an exciting bombshell but steady and positive.

Tin hedge is a good idea, Tantalum sales, BWL funding on track, cash balance good, ore-sorting on track, and expanding the scope of the strategic partnership (which was always odd that it was just focused on Lithium as Uis) - they just need to get some result from the strategic process now. As we all know, it's taking way too long.

Some good chunky buys through this afternoon - all showing as sells on some platforms. 4.64 was buy price.

@Korriban - what do you mean by "I would want another sample to ensure my investment is still getting the results I got 6 months prior" ?

OM Metals haven't made any investment here. The agreement is that they take ore, they weigh it, determine the moisture content and analyse it - then they pay out depending on what they've got in that delivery.

Taking that small sample bag shown in the recent pictures doesn't tell them anything about what's in the next 40-tonne truckload. It doesn't tell them any more than the several truckloads they are already meant to have.

It just looks like they've never seen ore from Molulu before, which is odd.

The pictures on X yesterday of OM Metals taking a bag of sample rocks from the stockpile - "...in early preparation for their 40-tonne trucks arrival in the near future"

Doesn't that strike you as odd ? There were meant to have been several 40-tonne trucks sent to OM Metals in Nov/Dec 2023 before the road became unusable - why would they need a small bag of samples now ?

Nothing about the news this company reports is straightforward.

I think you're getting bit ahead - the ore sorter in the pre-concentration circuit won't be commissioning until 1st quarter 2025, and the 2,600tpa tin production rate is targeted for April 2025.

I'm keen to hear the Lithium and Tantalum numbers though, and what the status of the lithium off take agreement is for the pilot plant production - it was previously, like everything else, "progressing well".

Yes, if they were sales it was promising to see they didn't really cause an impact - someone wanted them !!

I think they were sales weren't they ?

Bit surprised to see a chunk of 1.75m being sold this close to the next update, but who knows, could be for any reason.

Yep, quarterly update will be released either this week or next week.

I can exclusively reveal that I've managed to get a sneak advance copy of the RNS, and the last paragraph reads :

"The strategic process to identify an appropriate partner to participate in the lithium development is progressing well. Further updates on the strategic process will be communicated in due course as appropriate."

Aaaaarrrrghhhhhhh..................

Interview attempting to explain it : https://www.youtube.com/watch?v=jAk_Mkc6kVY

I missed it on my first reading, but the 19th April announcement was for sales totalling £55,242.80.

This announcement says there was an extra £155,841.

So is it any way believable that RF didn't know he'd actually taken in £211,083 in cash instead of the £55,242.80 that was reported ? I can't think of any circumstances where that wouldn't have been noticed, even on a casual basis, let alone when you're making a regulatory announcement.

It would appear he has deliberately withheld this further information, even after being forced to make the first disclosure.

Well, the previous announcement said he’d been selling between Nov 23 and Feb 24.

This announcement says he was selling between Aug 23 and Mar 24.

When the first announcement was made - how did he not realise it wasn’t complete ? Or did he know, but just choose not to say anything.

Once again, very poor, and indicative of the way CRTM is run.

@pekingduck @sasa43 - I always appreciate your views on here, thanks. Good to see you're both still invested.

I agree with you both - this has been a "jam tomorrow" company for too long now. The market is giving no premium for "potential" due to the way the commercial strategy has played out over the past couple of years.

My major concern now is reaction to the Strategic Process. Having gone on for so long, I just don't get the feeling that it's going to be "eye-watering" when it comes, and the way it's been setup, anything less than that will be a disappointment.

I am still positive, obviously having topped up today, but I honestly thought large scale growth would be closer on the horizon by now than it is.

Yesterday evening I checked back on my ATM history - and I first purchased on 10th March 2021 at 5.4p.

They had just produced 194 tonnes of tin concentrate that quarter, and the tin price was 25,125. The Lithium and Tantalum weren't really on the radar at that stage, but shortly after I purchased they announced they were starting test work on them, but it was very early days.

I've topped up my holding many times since, it's my biggest long term holding.

Last quarter they produced 371 tonnes of tin concentrate, and in 6 months time they'll be producing 650 tonnes a quarter. - over 3 times as much as when I first invested. The tin price is now 33,200 - 30% higher. They're also now producing Lithium and Tantalum, and have some major investors on board.

I can't quite believe that I've been able to topup again this morning - 3 years after first buying - at a price below 4.8p.

I just hope it's the market that is crazy and not me.........

I don't think a small delay to the roadworks would be putting anyone off. I think it's more likely that investors don't trust that the revenue will flow easily once the road is finished.

The value of the ore is still a significant unknown - there's no information on the grades that OM Metals have received so far, or what they'll be paying. It's also unknown how much can be produced, both initially and over the medium term.

Fixing the road is obviously a step in the right direction, but without those two variables it's still the same leap of faith it's always been.

It was RF who had said he was using the ore for the road. He said that in a recent interview.

He's just contradicted himself.