Member Info for cakejesus

What is better than the 4 9s? The 5 9s. This would open Bres up to the nuclear applications of graphite, which of course comes with a premium price. Who knows if they are testing for it, but if Mike is as savvy as we hope, there is a decent chance we may see some movement here as well, opening up even more revenue streams.

I think the suggestion we are facing more delays when it comes to financing is a reasonable one, after all, in the mining space delays are a feature not a bug. I thought it would be fun to engage in some speculation while we wait. This quote from the updated DFS says to me at least it may not be so far "several new offtake agreements have been signed (including higher-value niche sales) and these are now reflected in the revised DFS model. " Could be completely wrong, but these new offtakes could/might be part of ongoing financing discussions suggesting they are decently far along. At the very least it suggests there is strong interest in this period of quiet. Enough to hopefully push us to financing.

Unsure if this has been posted, but here is the updated investor presentation for March.

https://blencoweresourcesplc.com/wp-content/uploads/2026/03/Blencowe-Presentation-March-2026-1.pdf

Seems they are targeting H1 (Q2) for the funding solution, will have to see if the bureaucracy plays ball with that goal.

This could be an interesting negotiation tactic to help move things along with the DFC/Americans to secure supply away from Chinese companies like BTR, showing them that Bres has a plethora of options. Will have to see how this plays out, would much prefer a western supply chain focus personally.

Https://www.youtube.com/watch?v=DnEaAkAletc

Here you go

I liked the nod in the interview towards "US government stockpiles," sovereign recently made a deal with Traxys to supply project vault with their graphite, not too unreasonable to think they may be incorporated as an offtaker in some way in the coming months.

Rotter, this is the original announcement from Hainan which kicked this all off. The final point seems to say that its KUMK that will pay with the potential right to claim back. https://static.cninfo.com.cn/finalpage/2024-11-05/1221625178.PDF (here is the link to the announcement).

II. Main Contents of the Memorandum of Understanding

It is clarified that the Bougouni Lithium Mine project will be uniformly governed by Mali’s new Mining Law.

The Mali Government commits to approving the transfer of the Bougouni Lithium Mine project’s mining rights from FM to LMLB, with an initial validity period of 10 years. Upon expiration, the government promises to renew the permit based on the mining law conditions in effect at the time of renewal.

The Mali Government agrees to issue the necessary permits for construction, development, and export during the project’s construction period, while also exempting customs duties on imported equipment and materials required for the project’s construction and operation.

The Mali Government and its investors may acquire a 35% equity stake in LMLB, classified as preferred shares. Of this, 10% will be granted to the government free of charge, while the remaining 25% will be purchased by the Mali Government and its investors for approximately USD 4.3 million.

In accordance with local Malian regulatory and policy requirements, KMUK and FM will jointly pay a total of USD 15 million in taxes to the government. This amount will be paid in two equal installments: one within 5 days of signing the Memorandum of Understanding, and the other by March 31, 2025.

Note: According to the Investment Agreement signed between Xinmao Investment, KOD, and KMUK, the taxes arising from this transaction are to be borne by KOD. Therefore, KMUK reserves the right to claim the aforementioned USD 15 million in taxes from KOD.

Personally I am expecting a delay, perhaps of a few weeks. Bernie has always done what he said he was going to do, just not usually as quickly as he suggested, I am sure everyone can remember how tantalizingly close previous news has been! (Poor Mrs Aylward, I hear she is still being tantalized to this day!).

Would love a nice RNS to prove me wrong though.

Here is the one I use.

https://www.metal.com/Lithium/201906260003

Translation:

Hainan Mining Co., Ltd. (hereinafter referred to as the "Company") held the fifth extraordinary general meeting of shareholders in 2021 on September 8, 2021, and reviewed and approved the "Proposal on Investing in the Construction of Battery-Grade Lithium Hydroxide Project (Phase I)", and plans to invest no more than RMB 1.056 billion to build a 20,000-ton battery-grade lithium hydroxide project. The project is located in Yangpu New Materials Park, Danzhou City, Hainan Province. The implementing entity is Hainan Xingzhihai New Materials Co., Ltd., a holding subsidiary of the Company, and will officially start construction at the end of 2022 (for details, please see the Company's Announcements No. 2021-062, 2022-084, and 086). Up to now, the above-mentioned project has completed all civil engineering construction, equipment installation in the metallurgical section and the wet process section, and the main structure installation of the entire plant building (structure), and recently achieved a successful trial run of the metallurgical section. In the future, the company will actively promote the stable production commissioning of the metallurgical section and its process connection with the wet process section. It is expected that the project will be officially put into production and qualified products will be put into production in April 2025. The company will fulfill its information disclosure obligations in a timely manner according to the progress of the project. Investors are kindly requested to invest rationally and pay attention to risks. This is hereby announced.

Hainan's plant is almost done, should line up nicely for full production.

https://news.futunn.com/en/notice/303905579/announcement-of-hainan-mining-co-ltd-on-the-successful-commissioning?futusource=news_web_stockpagenews&lang=en-us&ns_stock_id=70489004863921&global_content=%7B%22promote_id%22%3A13766%2C%22sub_promote_id%22%3A24%7D&level=1&data_ticket=1734432124226062

Nice video on X

https://x.com/KodalMinerals/status/1889971020272120238

Https://x.com/MatthewManzi22/status/1887737263616106981

It was the lepidolite mines that helped drive down the price at the highs (as generally uneconomical at lower prices), will be interesting to see what this signals, pre-empting the bull run? Or driving prices lower? Will be interesting to follow, having that floor should help us either way.

Slightly disappointing, but when you consider it guarantees profitability no matter what, and there is no cap (with prices to hopefully carry on rising) a slightly lower floor is an understandable trade off.

I would imagine its because its the Chinese New Year holiday, which ends tomorrow, KOD and Hainan usually like to release at the same time, so we should get an RNS tomorrow.

This one isn't too bad.

https://www.metal.com/Lithium/201906260003

Part 2.

Recently, after friendly consultations among all parties, the Agreement Parties signed a supplementary agreement to the aforementioned "Offtake Termination Agreement" regarding the payment of the remaining USD 10.5 million termination fee, specifying that KMUK will pay Suay Chin the second termination payment of USD 5 million within 3 business days of signing the supplementary agreement. KMUK will further pay the third installment of USD 2 million by November 30, 2024, and the fourth installment of USD 3.5 million by December 20, 2024. All other provisions of the "Offtake Termination Agreement" remain unchanged.

The Company will ensure timely disclosure of information in compliance with relevant laws and regulations, and advises investors to exercise rational investment and be mindful of associated risks.

This announcement is hereby made.

Translation below.

In May 2017, Suay Chin International Pte Ltd (hereinafter referred to as "Suay Chin," KOD's former largest shareholder) and Kodal Minerals PLC (hereinafter referred to as "KOD," a 49% shareholder of KMUK) signed a "Binding Term Sheet for the Offtake of Spodumene from the Bougouni Lithium Project," agreeing that within three years of the Bougouni Lithium Project's commencement of production, Suay Chin would have the priority right to exclusively purchase no less than 80% of KOD's lithium concentrate.

On November 16, 2023, Xinmao Investment Co., Limited (hereinafter referred to as "Xinmao Investment"), a wholly-owned subsidiary of Hainan Mining Co., Ltd. (hereinafter referred to as "the Company"), completed the subscription for 2,937,801,971 new shares in KOD, becoming its largest shareholder. Additionally, Xinmao completed an equity infusion into Kodal Mining UK (hereinafter referred to as "KMUK") to achieve effective control of 51% of KMUK's equity, thereby obtaining the mining and exploration rights to the Bougouni Lithium Project.

In March and May 2024, the Company and its subsidiaries, KMUK and KOD, along with Suay Chin (hereinafter referred to collectively as the "Agreement Parties") signed the "Agreement to Terminate the Binding Term Sheet on Offtake from the Bougouni Lithium Project" and its supplementary agreement (hereinafter referred to as the "Offtake Termination Agreement"). This agreement stipulated that KMUK would pay Suay Chin a termination fee totaling USD 14 million. After receiving the first installment of USD 3.5 million, Suay Chin agreed to relinquish its priority right to purchase no less than 80% of lithium concentrate from the Bougouni Lithium Project within three years of its commencement of production. Additionally, KMUK was required to pay the second installment of USD 3.5 million to Suay Chin within 10 business days of the effectiveness of the offtake agreement with the Company, with the final installment due within 10 business days following either the first shipment of spodumene from Mali or October 31, 2024, whichever came first. In May 2024, Suay Chin received the first USD 3.5 million termination fee from KMUK, officially terminating its priority right to purchase no less than 80% of lithium concentrate within three years of the project's commencement of production. For details, please refer to the Company’s disclosures on the Shanghai Stock Exchange website, announcements numbered 2023-037 and 2024-037, 048.

The Board of Directors of the Company and all its members hereby guarantee that this announcement contains no false records, misleading statements, or material omissions and assume legal responsibility for its content's truthfulness, accuracy, and completeness.

Release from Hainan

https://www.moomoo.com/news/notice/301277349/announcement-of-hainan-mining-co-ltd-on-the-signing-of?futusource=news_web_stockpagenews&lang=en-us&ns_stock_id=70489004863921&global_content=%7B%22promote_id%22%3A13764%2C%22sub_promote_id%22%3A57%7D&level=1&data_ticket=1721207386598465

Https://x.com/EngageInvestor/status/1856033413171409053

Bernie holding an update Friday at 2pm.