Member Info for ChameleonMan

Just off to Stansted with a genuine gold-plated shovel from Chelmsford market and a one-way ticket to Oman on a cheap Thomas Cook flight! Wish me luck?

Surprised at the negative reaction to the RNS here today considering it added 2.56% to the SP.? As I posted the other day (below), this is just the first of a series of value-adding news items to be released. The recent price fall has shaken many but its a great opportunity to make money. Just watch the SP tick up as DA works through this list!

“There is no doubt in my mind that value will be created in the next 9-12 months. The newsflow has been outlined as follows:
· A maiden co-product (quartz and feldspar) Mineral Resource estimate (DONE!)
· An infill drilling programme to upgrade existing Inferred Resources to the Measured & Indicated categories for inclusion in mining reserves in the DFS
· Completion and submission of the project's Environmental Impact Assessment study for approval by the Portuguese authorities as part of the project permitting process
· Decision on the preferred lithium processing methodology and pilot scale test work results
· Updates on EU/Government funding
· Framework agreement on royalty finance
· Framework agreement on offtake contracts
· Maiden Ore Reserve estimate

I wanted to review myself so the total remunerations ( salary, pension, bonus) for 2018 are:
DAvid Archer £365,784
Dale Ferguson £215,795
Staff (56) costs £1.8 m

Both directors got slightly less than in 2017 but still a decent whack for a company with no income?

These days when the banks are charged to deposit money, I expect to be paid to borrow money, not just have it interest free! Paid to drive an EV - I’m warming to the idea!

Ps showing as a sell!

Trisse clearly plays the long game. I am wondering if he will top up his holding? Had another £5k myself just now below the placement price.

I note that King Corbyn has promised to stimulate the tide of EV production, car hire and surprisingly, car ownership in the first year of Labour government “The party has revealed it would provide state loans worth up to £33,000 for 2.5m people to buy electric cars during its first parliamentary term, at a net cost of £3.5bn in lost interest payments. The money, averaging £27,000 per car, would come from a £250bn national transformation fund that Labour will finance through extra borrowing.”
I’m no fan of the red flag but maybe that’s the sort of thinking we need to get this EV revolution going?

I share your frustration but have a more forgiving attitude to DA and his optimistic targets. In spite of delays I still think he is one of the good guys running AIM companies.

Jonners, an answer to what exactly?

Hi Benchcar, nice to hear from a new face. I don’t believe any amount of money thrown at Moz or Oman would have made much difference. It’s the culture and bureaucracy to blame in each country. The additional money is to complete the expanded scope of the DFS due to additional resource finds which DA is keen to include to increase the value of the project. Should be seen as an investment in future value. Tough if you have a short - term focus but cornerstone investors and most long term holders will have the patience to see it through to completion

There is no doubt in my mind that value will be created in the next 9-12 months. The newsflow has been outlined as follows:
· A maiden co-product (quartz and feldspar) Mineral Resource estimate
· An infill drilling programme to upgrade existing Inferred Resources to the Measured & Indicated categories for inclusion in mining reserves in the DFS
· Completion and submission of the project's Environmental Impact Assessment study for approval by the Portuguese authorities as part of the project permitting process
· Decision on the preferred lithium processing methodology and pilot scale test work results
· Updates on EU/Government funding
· Framework agreement on royalty finance
· Framework agreement on offtake contracts
· Maiden Ore Reserve estimate
We would all like to start mining tomorrow but these are the process steps that must be followed. What happens to the SP in the meantime remains to be seen but as no more retail finance is required we won’t have further dilutions from this. Why did we need to raise more last week? - in a way we are a victim of our own success in increasing the resource which has required additional work and therefore extra time to complete the DFS. I would urge folks to read the RNS again as the answers to most questions are there and prospects remain good in spite of the price reaction. I am treating it as an opportunity to grab shares cheap - now available below placement price!

The Lithium story continued to unfold....
“Battery metal bulls suddenly have more to cheer about. This week saw the flashy launch of VW’s ID. 3, a mass-market hatchback that symbolises the potential market for the lithium that powers its battery. Last week, China’s Contemporary Amperex Technology (CATL) bought an 8.5 per cent stake in Australian lithium miner Pilbara Minerals. The investment by China’s biggest battery producer — and supplier to carmakers including VW, Toyota and Volvo — was seen as a vote of confidence for the sector, which supporters say will be a big beneficiary from decarbonisation and the mass adoption of electric vehicles.”

“Shares in China’s largest lithium producers rallied on Thursday on hopes that prices for the battery raw material have hit a bottom after a dramatic two-year decline. Shenzhen-listed shares in China’s largest producer Tianqi Lithium rose by 6.6 per cent while Hong Kong-listed shares of its rival Ganfeng Lithium rose by 4 per cent on Thursday.”

Wasn’t it always so? Few wearing diamonds and gold jewellery think of the toil that is required to provide these shiny rocks or would tolerate a mine within earshot of their villas? Likewise the requirement for increased food production is well documented but the government isn’t rushing to fund our Sirius’s potash fertiliser mine. I’m afraid the lithium industry will continue to struggle even though we are enabling a carbon - free future?

Arms crossed body language throughout the audience suggests passive aggression to me but at least no tomatoes being thrown. Sensible to profile the Portuguese nationals involved in the project.

Not sure that Rivian has revealed its battery supplier yet? Surely not Chinese? Making pickups as well based on a “skateboard “ configuration! Saw that Ineos is entering the SUV market in the U.K. surely another opportunity for electric propulsion?

I know Trisse was posting on ARCM but not for several weeks. He may be recalibrating his thoughts on SAV given his recent (June) views on funding etc “No revenue so will rely on market for cash. We have enough for the rest of the year and it’s said no more placings to retail. Capex will be funded through debt and pre payments from customers and maybe some streaming deals etc, plus a bit of equity probably. From 2021 free cash flows should be strong above $70m/y...”
Not sure whether this week’s fundraiser entirely meets the “retail” classification but it wasn’t provided by auto, battery or other industry partners which was how I read his view, which no doubt came from DA or sources close to him?

Never thought I’d ever say it but good for you Jonners! But just 20%? Give yourself permission to think bigger? 50% just gets us back to where we were on Friday. Licences confirmed for Oman and Moz must be worth a few pence? :)

After yesterday’s bombshell and the understandable PI reaction, the hope that the SP fall was overdone was undermined by further price erosion today. Not a peep from DA on the usual channels. No director talk, no director buys. Are they equally shocked? DA must be also carrying a large paper loss. Maybe some director buys would help towards restoring reputations?Surely our FD could now afford to replace the shares he sold earlier around the 9p mark? Only liquidity has improved. Sales of £20k barely cause a flicker in the SP and are soon matched by buys. We must be at the point of greatest pessimism and greatest opportunity? We may see-saw here for a while before the outcome of the battle between optimists and pessimists is decided. Any views? Trisse, IB?

Oops, I meant 2p not 3p!

I share your pain this morning - I’m down £40 k on paper so hurting more than most. However.... my view remains that we will recover from here and I have spent £10k just now on that basis. There was no shortage of buyers at 3p for the placement and I’m pretty sure Al Marjan wouldn’t be so keen without a clear insight into likely near-term developments in Oman and Moz. Seems like the staff also had a whip- round! I’m therefore happy to top up at or near the placement price. “Be greedy.....”!