Member Info for Bridgedogg1

Looking at the Q1 sales figures you can see where this is going.

"Sales in the first quarter were £3.0m.....Sales in March 2024 were £1.5m."

So considering sale have risen every quarter for at-least the least 6 quarters we can assume/hope sales are at least £1.5m / month and growing since March. If it were to stay at £1.5m per month that would gives us the lower £17m sales target for 2024, which I am sure is where they got the figures from - they are obviously giving the lower end of the range for everything at this stage and I think this target as well as others will easily be beaten, by quite a margin.

If Zulu was producing without issues and there was no debt then the current £60m market cap might be justifiable.

Want to see a big ruse from this. Funding sorted, operational issues getting sorted, order book full- massively undervalued. Let’s get this up to where it should be with the risks/issues built in - 5p - and then rise into double figures as the risks/issues are resolved.

I think you have until 17th. Call your brokers and they should be able to link it up to your account.

£6m of new shares into mcap of £2.5m is a lot. I don’t know why they raised so much at this level. RF until it was exhausted would have been much better, just and 8% discount! Wanted to buy after placing but for me it’s too many shares.

After yesterday’s presentation the buying is back. Positive news flow should continue.

Pretty much in line with WPP but revenue down 20% is more than expected I think.

Good luck

Operating loss of £2.4m (H1 2022/3: £2.7m)

· Cash of £1.2m as at 31 December 2023 (30 June 2023: £2.6m)

· Cash of £1.2m as at 20 March 2024 following recent receipt of R&D tax credit of £0.8m

So cash burn £200k -£400k per month. Keeping spending tight they could last until July but why say you need to raise cash in the next few weeks at last update if that was your plan? Maybe they have received better advice but in all likelihood fundraise coming soon.

Sorry that should be ‘tailwinds’

‘Total disconnect between share price and value’

The chairman should be more careful giving financial advice, stating that shareholder ‘will’ get a reward from here. All seems very confident. The figures are all based on worse case senarios. they are going for under promise and over deliver. Cash headroom calculations dont include open offer which is extra.

Key headwinds are EV uptake and upcoming legislation around brake dust pollution which I will have to look into. Order book is secure, we have a better product than the only competitor and operational issues being dealt with.

I anticipate more institutional investment coming in.

“Scrappage was 25% in 1Q24, well down from 2023, and SCE states the current quarter’s 17% expectation.”

Great progress 👍

Fairly well balanced. Key for me is:

The £390m order book and the environmental benefits are robust. The furnace maintenance issue reported last year, at the heart of the process, has been addressed. The cash-damaging scrappage problems have been reduced, as methodology has matured from a development-style process.

We have an in demand product with a strong margin. They will buy whatever we can produce. Ramping up production to meet demand was always going to be tricky and imo they tried to do too much too quickly buys it’s given a great opportunity to get in at the bottom of what will be a strong turnaround story.

I can only see positives coming out of today’s presentation. Final furnace installation, reduction of scrap, contract pipeline, current manufacturing capacity, progress on loan access.. I have added my questions regarding these

Oh yes that’s right, the Canaccord and director shares were issued yesterday.

I’m surprised Kod holders can’t accept that what has happened to Leo is not a positive development for miners in Mali.

Yes they sold 0.9%. Could be to fund the open offer shares which are 15% cheaper.

But if you want to be a xxxx about it - if Leo Lithium's 40% of 211mt @ 1.5% Li20 is worth $342.7m how much is KOD's 49% of 31mt @1.1% Li2O worth? I'll give you a clue - its less than the current £87m mcap. And will the Mali gov now be taking 30%? So on reflection, yes my suggestion is to sell.

I dont believe it is, I didn't call anyone stupid or encourage anyone to sell up. Just pointing out the realities on the ground. Is that not allowed?

The key part is section 7:

Resulting situation on the date on which threshold was crossed or reached 5.13% (The new holding)

Position of previous notification (if applicable): (Blank mean 0% held before the declaration date)