Member Info for Catbert

According to Lenigas Red Setter appears to be most similar to Telfer.

The core images show a considerable amount of information which can easily be fed into AI for more analysis. The amount of copper related minerals present can be viewed and these give an indication of the likley copper grades present. The gold is harder to discern from the images and will need assay.

Perhaps the images taken are cherry picked sections however a copper mineral depending on which one it is has a specific amount of copper in it therefore a visual inspection could be reasonably accurate albeit rough and ready way to assess grades based on the percentage of copper minerals visible in the sections shown.

What they have shown seems to have a lot of copper related mineralisation. Check it yourself.

The MT results of the dome structure seem to show a stronger signal at depth. If this correlates to higher grades of mineralisation that would be very good news. The next core samples are eagerly awaited.

Telfer is a multi domed structure. We still have two other targets R1 and R2 both of which according to the MT appear prospective for Breccia pipes.

Neither has been drilled yet. Theoretically at least we could have three breccia pipes.

GLA DYOR

They have Florent to speak to the locals.

My guess would be that Aubrey will be dealing with consultants as we are not yet running a mine and most of the technical expertise is not in country hence he is listed as Hybrid. Aubrey has a lot of experience of project managing relations with consultants as you will note from his profile. Mott MacDonald being a case in point.

I would imagine that he will need to visit site but he could do this accompanied by Florent and or an interpreter. The relations with the locals will I would imagine be already in the hands of Florent.

Engineering Consultants are most likley to be English speaking even the Chinese ones.

The discussions which Aubrey is concerned with are most likley to be technical in nature - the laws of physics are something of a universal language already.

Being a French speaker would perhaps have been a desirable rather than an essential quality for the role.

From what I can tell this pattern has been observed by posters here since about 20th July and seems to account for something in the region of about 12m shares based on annecdotal reporting through the chat.

A poster late in July also reported that he'd been approached by a broker to see if he was willing to sell shares ( the poster stated that the broker wasn't a run of the mill type broker). These transactions do not seem to have had any effect on the share price.

I'm not well enough versed in these things to suggest what is going on. Anyone got any ideas?

Data source was LinkedIN I have a lot of connections so maybe you will need to use a premium account and you can only view up to your third level connections, look up Zanaga and then look up people. I was incorrect about his CB experience it is DRC experience.

Some of this system is not at great depth at all i.e. 75m from surface in some instances

https://wishbonegold.com/wp-content/uploads/2021/03/WSBN_RNS_Red_Setter_High_Resolution_Magnetic_Survey_Results_10jq210218.pdf

It looks like our new lad has started. I've had a good look at his profile and he's a pretty accomplised and super hands on person with in country project management experience (CB) plus he's worked on some big Iron Ore projects (BHP) and he has a decent pedigree in the water management discipline so perhaps he's busy on the tailings project and whatever else they need to sort out.

But finally we have someone who looks like he's a hands on miner type Marty is more strategic and our other guy, Florent is a commercial bod.

Aubrey looks ideally matched to our project as he's got a tremedous amount of project management experience so I'd imagine he'd be an ideal point man for any of the various consultants we need to engage with to move this forward.

He's not got any pellet related experience but my guess is that aspect will be handled by someone else.

If we are to progress into the FEED process and assuming that is done by external people we'll need a person on site who knows the lay of the land to co-ordinate activities for us. I'm reading this appointment as a signifier of progress. Hopefully this isn't over egging the pudding but IMHO it means something. You can hardly say to people doing the feed "Oh yes Zanaga it's over there in the jungle, Good luck, let us know how you get on".

Maybe I'm reading too much into this but it's easy to extract Aubrey's CV and whack it into some AI to interpret how he might suit our purposes. https://www.linkedin.com/in/aubrey-thiel-05193343/

It might be even better than that if it is open pittable which it might be the surface geo looks similar to the Telfer tier 1 areas everything is lining up with a Paterson style deposit with eveidence of multiple hydrothermal events. Won't know for sure until we get the lab results but .........wow!

AI analysis of the paper https://www.perplexity.ai/search/analyse-the-attached-paper-eva-fvJzm5gTT7GzPoheeEsVQQ#0

Question asked "analyse the attached paper evaluate how it proves or validates any of the technologies offered by fusion antibodies"

I confess. The AI did send me to a silly place yesterday. I apologise.

Thanks for your comments and I will need to check things better before I post. Some of what I posted is possibly correct and some not.

The central idea about how SWFs behave is still in play however. Equally it might be that our BOD and their pals have raised a leg on us.

There is evidence for the aspirations of a number of big Gulf based players (not American) in the market we serve and there is even some degree of rivalry between them. So much so that a means of operational security might be required to prevent their intentions from becoming public knowledge- something which GIS might serve a useful purpose for.

The formation of Orion ADP in January and our deal in March re the offtake may be a coincidence. You can easily read the profiles of the Orion people to understand their expertise.

Then there is the question of availability and scarcity of a resource such as Zanaga.

After this bout of AI assisted reserach I'm as Oscar Wilde one said "far better informed but none the wiser". GLA.

It's probably better if I just go back to sleep.

Bear I believe Marcus is fully awake. I'm the one who's been asleep. GIS for example. It is incredibly difficult for investors to hold when we don't know the full story and more so on AIM given it's horrible track record. Yet we might all be, despite our reservations, in the right place afterall.

The dark pool transactions those large ones that don't move the share price. The fact that Heeney, Eagle, Greymont and Regatta now own 60%. It means something.

My best guess is now that GIS is a shell built for a specific transaction possibly on behalf of a sovreign wealth fund or similar.

The 20% offtake and marketing rights provision for Gulf Iron and Steel (GIS) can have substantial, positive effects on Zanaga's project scalability and market positioning:

Influence on Scalability

De-risked Volume Commitment: With 20% of production pre-sold to GIS, Zanaga secures a reliable, anchor buyer. This not only stabilizes revenue projections, but also helps justify increased production capacity, making it less risky to scale up output or fast-track project phases.

Bankability for Expansion: Lenders and investors favor projects with secured offtake. A committed customer like GIS can unlock more favorable funding for project expansion, construction of additional modules, and potential upgrades (e.g., pelletizing, DRI feed) if demand grows.

Catalyst for Modular Growth: The presence of GIS as a foundation customer may encourage staged expansions—Zanaga can develop in modules, knowing a portion of output will have an assured home, and progressively ramp up as market demand and additional offtake deals are secured.

Potential for Co-investment: Anchor offtakers such as GIS sometimes evolve into equity or infrastructure partners, which can accelerate capacity expansion or vertical integration (e.g., joint steel or pellet plants).

Influence on Market Positioning

Strategic Credibility: The GIS partnership signals to the market and supply-chain participants that Zanaga isn’t just another speculative mine—it is aligned with a real, strategic player in the steel sector, lending additional legitimacy to the project.

Entry to Strategic Growth Markets: GIS’s network and market reach provide direct access to high-growth steel markets in the Middle East and Americas, where new capacity and decarbonization initiatives are driving demand for high-quality iron ore.

Premium Product Branding: The GIS deal, especially if focused on DRI-grade or high-value iron ore, allows Zanaga to position itself as a premium supplier aligned with the energy transition and green steel trends—important with shifting ESG expectations in the resource sector.

Negotiating Leverage: With 80% of output still uncommitted, but a cornerstone agreement in hand, Zanaga can approach new offtakers, governments, or financiers from a position of strength.

Elphick is tied in to February 2026. Perhaps you can go house hunting in March? I'm just guesstimating so DYOR and

...collaboration, indeed The OMDA and the Oromia regional government are not passive regulators but central stakeholders with binding authority over both the legal, financial, and community frameworks of the Tulu Kapi Gold Project. Without OMDA’s explicit board-level approval and ongoing regulatory sign-off, the Tulu Kapi development cannot proceed. This integration ensures greater accountability and alignment with regional priorities, shaping the project’s risk profile, stakeholder relations, and local economic impact.

Luckily for us the Ormoia government has a seat on the TKGM board and is an active participant in the oversight process.

The Oromia Mineral Development Authority (OMDA) and the Oromia Regional Government are deeply integrated into the Tulu Kapi Gold Project, playing a decisive and hands-on role at every major stage:

1. Direct Participation in Project Governance

Board Representation: The Tulu Kapi Gold Mines (TKGM) Board—the main project governing entity—involves representatives from KEFI, the Ethiopian Sovereign Wealth Fund, the Federal Ministry of Finance, and the Oromia Regional Government/OMDA. All critical project decisions require their approval and countersignatures. OMDA's seat on the TKGM Board ensures that regional interests are directly factored into all major agreements and project governance.

2. Essential Approver of Key Project Milestones

Final Approvals: Definitive project documentation (financial, legal, and operational) is only legally effective once signed by OMDA and other board members, making OMDA’s formal sign-off the final regulatory hurdle before full-scale project launch.

No Federal Bypass: OMDA’s August 2025 directive—and formal correspondence with federal authorities—makes explicit that no mining or exploration license in Oromia is valid without its written consent, even if previously granted at the federal level.

3. Regional Oversight and Regulatory Controls

Oversight of Early Works: OMDA has actively monitored the completion and third-party certification of all early and major works—covering site security, community resettlement, land access, and environmental safeguards. These certifications are a prerequisite for OMDA’s final sign-off.

Community Engagement and ESG: OMDA is responsible for ensuring that the project meets environmental, social, and governance (ESG) standards—especially community compensation, relocation, and ongoing consultation requirements.

4. Financial Stake and Local Content Requirements

Project Equity: The Oromia Regional Government holds an equity stake, with financial participation in the form of TKGM share subscriptions and involvement in the structuring and allocation of project revenues, royalties, and employment creation.

Local Procurement: Project design prioritizes local procurement and regional economic development, in line with OMDA and Oromia government policies for maximizing local benefits and job creation.

5. Procedural and Policy Influence

Sequenced Approvals: OMDA’s approval is the last formal step in a sequential board process including federal and regional government entities; no financial close or significant new expenditure can occur before their sign-off.

Proactive Regional Policy: OMDA’s newly-asserted regional oversight is intended not only to increase regulatory control but also to assure that mining delivers sustainable and equitable benefits to Oromia. Which it should and Kefi understand this hence the level of coll

Https://www.futuremarketinsights.com/reports/iron-ore-pellet-market

https://djj.com/rising-demand-for-dr-pellet-lump-in-emerging-markets_-sifw-2025/

The United States currently faces significant limitations in domestic capacity to fully meet future demand for high-grade (68% Fe) DRI-suited iron ore pellets. While the country produces at least 4 million tonnes per year of DR-grade pellets as of 2025—mainly from major Minnesota operations—forecasts indicate that domestic demand could more than double by 2030, reaching at least 8–10 million tonnes per year, or higher, if green steel and EAF initiatives accelerate.

Can the U.S. Meet the Growth in DR-Grade Pellet Demand?

Current capacity: U.S. DR-grade pellet production is approximately 4 million tonnes per year.

Required by 2030: At least 8–10 million tonnes per year to become self-sufficient for the expanding EAF and DRI steelmaking sector.

Capacity challenge: Industry reports and market research consistently point out that global high-grade pellet supply is tight, with further U.S. capacity additions hampered by both the need for premium iron ore deposits and logistical constraints on further plant expansions.

Will the U.S. Need to Import More DR-Grade Pellet?

Global context: High-grade DR pellet supply is forecast to remain structurally tight, with many new EAF plants and green steel projects requiring material that is in short supply even globally.

Import reliance: U.S. import volumes for iron ore pellets have fluctuated over the last decade, and with demand rising, the U.S. will almost certainly need to import a growing share of DR-grade pellets to meet its decarbonization and new EAF feed requirements—unless domestic capacity is dramatically expanded.

Key supply factors: Buyers often sign long-term contracts with North American and international miners to secure DR-grade supply, but even then, the market is “relatively tight,” supporting significant price premiums for DRI-suited pellets.

What about tariffs? Currently the tariff is 15% with CB for this product verses 50% with Brazil, Iran isn't an option and neither is China due to tariffs and political issues so unexpectedly perhaps Zanaga could be a source for this product for the USA.

Gulf Iron and Steel? Hmm? They didn't say which Gulf did they.

Thanks StarBright.

I am concerned that investors still haven't recieved adequate details about who precisely controls GIS and their precise identities or indeed the specifics of the terms related the the 20% marketing rights.

This is an asset which can be monetised so my question is was this asset used by any of the new parties to raise funds to buy in.

If so have we effectively, albeit indirectly, lent them the money to buy a share in our business?

In such a huge informational vacuum it is difficult to know.

I'm no expert but according to my AI the following :-

Directors of BVI companies can still be held accountable for unfair prejudice. The statutory remedy for unfair prejudice is codified under section 184I of the BVI Business Companies Act, 2004 (as amended). This provision enables any shareholder of a BVI company to petition the BVI Court if they believe the company's affairs are—or are likely to be—conducted in a manner that is oppressive, unfairly discriminatory, or unfairly prejudicial to them as shareholders.

Key points:

The BVI Court has broad discretion under section 184I to grant relief if unfair prejudice is established. Remedies can include requiring the company or another person (which can be directors or controlling shareholders) to acquire the aggrieved shareholder's shares, compensating the aggrieved party, setting aside certain corporate decisions, appointing a receiver or liquidator, and regulating how the company is managed going forward.

Directors can be found personally liable if they have breached their fiduciary duties or acted improperly in a way that causes unfair prejudice to minority shareholders. This includes misapplication of company assets, improper dilution of shares, exclusion from management, or failing to provide necessary financial information.

The courts apply an objective test—whether conduct is unfairly prejudicial does not require bad faith, intentional harm, or a technical breach of duty alone. Even strict adherence to legal rights can, in some circumstances, be considered unfairly prejudicial if it damages a shareholder's legitimate interests.

Notably, recent large cases, such as the Privy Council decision in Yao Juan v Kwok Kin Kwok & Crown Treasure [2022] UKPC 52, have confirmed the courts' willingness to hold directors accountable and to impose robust remedies—including liquidation of the company—where major decisions were made without proper consultation or notification to fellow shareholders.

In summary, the courts in the British Virgin Islands remain robust in holding directors to account for acts of unfair prejudice, providing extensive remedies to affected shareholders.

11.53% spread seems excessive. That being said the market cap at under £16m seems very low given the potential and the fact that FAB now has a patent for Optimal.

Https://www.linkedin.com/feed/?highlightedUpdateType=SHARED_BY_YOUR_NETWORK&highlightedUpdateUrn=urn%3Ali%3Aactivity%3A7360656658756169729

I think they call that a mankini Glenmorangie. Let's hope we never see any of our board wearing one.

Some volatility was inevitable here. Particulalry given last week's excitement. You can tell the traders by their boasting and name calling. I enjoy reading their posts and watching them take lumps out of each other. It keeps things interesting but they are more interested in charts , technicals and who looks good in the 2:15 at Haydock rather than in fundamentals.

Hopefully most of them have taken a decent profit and are off to find the next big mover.

For those, like me, who enjoy a decent snooze between the occasional sortie to the fridge, this still looks like a good place to hang out.

The thing with scientists, and I mean proper eminent people with serious academic credentials is that in my experience they don't do hyperbole. Quite the opposite.

In acedemia scientists don't want to publish garbage.

They know that what they say will be tested and verified by others as clever as themselves.

Scientists are careful with what they say. Being proven right is the currency of their trade. For this reason they are quite unlike most AIM business leaders.

This week FAB will be presenting a poster at the conference in Phildelphia- this is a significant moment (August 11-13th).

Whilst the work conducted by Dr Mitchell Ho has not yet been fully validated it is nonetheless still possible to publish a poster with the results and progress to date and of course due credit to the methods and suppliers (FAB).

If you look at Dr Ho's profile https://www.linkedin.com/in/mitchellho/ you may note that in addition to his role at the NCI his role at the Oxford University Press.

Do you imagine that Dr Ho would allow a poster to be published if things had not gone well?

Furthermore do you imagine that we'd have the official launch of Optimal scheduled for December and presentations with both Dr Buick and Dr Ho without the validation process completed?

Fusion Antibodies is attending the 13th Annual Immuno-Oncology Summit US 2025 this week, where they are showcasing their OptiMAL™ Platform for novel antibody discovery and their Ab-ility™ in-silico developability platform.

This event focuses on advances in preclinical and clinical immuno-oncology, including topics like bi- and multispecific antibodies, antibody-drug conjugates, allogeneic and in vivo CAR-Ts, TILs, TCRs, as well as data science applications in oncology. Fusion Antibodies will be involved in poster presentations and marketing activities centered on their core technologies at the Summit.

This hasn't even really started to get going yet. IMHO GLA/DYOR.

buffett_protege hilarious name, presumably not named after the sage of omaha as he would not be investing in a mining exploration or development company so i assume the "buffett" part is referring to a table piled high with sandwiches, sausage rolls and pineapple and cheese chunks on ****tail sticks.

recycling old news to try to scare holders? a new account set up to troll two shares with some chat gpt research on news items in the area.

there are regional tensions as there are moreorless everywhere in the world but these are long standing and quite importantly ethiopia is seen as a bulwark against some of the more extreme elements in the region by the usa .

indeed the most recent high-level us military visit to ethiopia took place in june 2025, when general michael langley, commander of us africa command (africom), traveled to addis ababa and met with prime minister abiy ahmed and other senior ethiopian officials. discussions during the visit focused on deepening us-ethiopia counterterrorism cooperation, strengthening defense ties, and addressing regional security in the horn of africa, particularly in relation to threats from extremist groups such as al-shabaab and isis.

essential details of the visit include:

general langley reaffirmed the us commitment to enabling african-led security solutions and supporting the african union’s efforts in regional security.

meetings addressed the importance of intelligence sharing, joint operations, and building capacity for ethiopian and regional forces.

the visit took place immediately after general langley's stop in somaliland, where he conferred with local leaders about maritime strategy and regional defense, also highlighting the sensitive geopolitical context around ethiopia’s efforts to secure maritime access via somaliland, a topic that has caused tensions with somalia.

general langley’s engagements in ethiopia also involved senior military leadership including ethiopia’s chief of general staff, field marshall birhanu jula, where both sides agreed to strengthen military and defense cooperation.

the us continues to emphasize support for regional stability, cautioning against further escalation in ethiopia-somalia-somaliland tensions that could undermine counterterrorism efforts.

this visit underscores a renewed american strategic focus on the horn of africa, with the us seeking to enhance partnerships, counter external influences in the region, and maintain security of critical maritime routes. while primarily military in focus, these discussions also reflect the broader, historically complex security and development partnership between the us and ethiopia.

us policy in the region is that they don't want instability in the horn of africa indeed they see a large growing democratic country like ethiopia as a key enabler of this approach. nobody wants a war of the sort suggested. it would shut down the red sea. that benefits nobody.