Member Info for Chilli300

Https://www.youtube.com/watch?v=-1YsZHt2zrA

Vantage has a lots of twist and turns to go no doubt..

But certainly with Vantage, Chikundo, Las Huaquillas (Fidelity) and even more exciting for me Uranium and Vanadium side (plus DISA angle) then yes maybe Fell

To be honest this might even be pre news on Chikundo EV1, not just Vantage bid

Haven't even seen PHLC on best bid before and SNGR is rare even anywhere near

LIONS BAY RESOURCES RECEIVES APPROVAL FROM THE BUSINESS RESCUE PRACTITIONER

Vancouver, BC, March 25, 2026 - Lions Bay Capital Inc. (TSX-V: LBI) ("LBI" or the "Company") announces that further to the Company's news release on March 23, 2026, the Business Rescue Practitioner ("BRP") for the Vantage Goldfields Group has called a meeting of creditors to approve a rescue plan put forward by LBI's 47.5% owned South African associate, Lions Bay Resources Pty Ltd. ("LBR"). A number of major creditors have indicated they will support the plan at the meeting to be held on April 9, 2026.

The decision to call the meeting is a major breakthrough in the long running quest by LBR for the acquisition of the assets of the Vantage Group. Vantage was placed in Business Rescue following a crown pillar collapse at the Lily mine in 2016 and comprises numerous mining leases in the Barberton region of South Africa with a historical resource inventory of 4.5 million ounces of gold*, a central metallurgical complex and extensive underground development.

As announced in the Company's news release of March 23, 2026, LBI increased its loan facility from Metals One plc from CAD $4.0 million to CAD $10.0 million to provide additional support to implement its South African gold strategy. LBI has now drawn down CAD $8.7 million of this facility and advanced the funds to LBR to assist with the Vantage acquisition.

LBR has made a global offer USD $40.0 million for the Vantage assets. It has already deposited USD $6.0 million of this into the Trust account of the BRP and has agreed to deposit a further USD $4.0 million before the creditor meeting.

The balance of USD $30.0 million will be placed in escrow in London as soon as practicably possible and distributed to creditors on receipt of a Section 11 approval under the Minerals and Petroleum Resources and Development Act.

The Company is currently assessing several funding structures, including but not limited to, traditional debt facilities, equity investment into LBR, direct equity through a public listing on a London, Toronto, Hong Kong or South African stock exchanges

The technical advisor link from 2024. Which is same time as when Novacore were staking ground in red basin

https://myriaduranium.com/myriad-uranium-appoints-douglas-christopherson-to-technical-committee/

There’s an interesting line of thinking emerging around Metals One (MET1), NovaCore, Myriad Uranium and Subatomic — but it’s important to be very clear upfront: this is speculative pattern recognition, not proven coordination or strategy.

What we can say factually is that there is a growing overlap between people, assets and capital in the US uranium space. NovaCore (part-owned by MET1) includes Neil Herbert and Douglas Christopherson, both with UraMin pedigree. Christopherson has also had earlier technical involvement with Myriad Uranium, including work tied to Red Basin and Copper Mountain. Myriad has now sold Red Basin to Subatomic (backed by 8VC/Overmatch) for $2.5M and retained a 10% carry, while also entering into a broader strategic alliance beyond that single asset. So there is already real transactional linkage between these groups, even if indirect.

At the same time, all of these entities are operating in very similar geological and strategic territory: early-stage, district-scale uranium opportunities across the western US. Myriad’s work at Copper Mountain highlights a district-scale exploration mindset (large geophysical anomaly footprints and structural targeting), and NovaCore is pursuing a similar basin-scale uranium thesis in New Mexico. MET1, separately, is building exposure across Wyoming, Colorado and New Mexico. So even without formal coordination, there is a shared technical and geological “language” being applied across multiple vehicles.

Where it becomes more interesting — but still firmly speculative — is that the same technical individuals and networks have touched multiple assets now owned or funded by different groups. Subatomic has a financial interest in Red Basin. Christopherson has previously worked on that system and is now embedded in NovaCore. MET1 holds a stake in NovaCore and separately owns other US uranium assets. That creates what you might call an “ecosystem overlap” — not a structure, but a network.

However, and this is critical: there is no evidence at this stage of any coordinated strategy, consolidation plan, or shared development roadmap between MET1, NovaCore, Myriad or Subatomic. NovaCore is an independent vehicle with its own board and incentives. MET1 only holds a minority stake. Myriad has pivoted its focus to Copper Mountain. Subatomic is building its own uranium portfolio. These are separate entities making their own decisions.

So the most grounded way to frame this is not as a hidden master plan, but as a technically linked ecosystem forming around US uranium, where:

The same or related technical minds have influenced multiple projects

New pools of capital (e.g. Subatomic) are entering the space

Assets sit in similar geological belts and are being evaluated in similar ways

That kind of overlap is often how future partnerships, deals or consolidations eventually emerge — but it is not proof that they will.

The following is a summary of a post shared on the Lily Mine Barberton Workers Facebook page regarding the “Judgment 23 March”. This is not an official court-published judgment or document, but rather a community interpretation of recent legal developments.

According to the post from how I'm reading it, the Business Rescue Practitioner (BRP) has submitted a supplementary affidavit requesting that the Court postpone its judgment and allow for the publication of entirely “new” business rescue plans, rather than amendments to an existing plan. The proposal reportedly involves publishing these plans immediately and convening a creditors’ meeting to vote on them shortly thereafter. The post raises concern that this approach may fall outside the scope of Chapter 6 of the Companies Act, which typically governs amendments to existing plans rather than the introduction of completely new ones mid-process.

The Facebook post also notes that while there is support for potential investors such as Salamander and others who may bring funding, there is frustration that the process appears to be operating outside strict legal parameters. It emphasises that business rescue is intended to be a structured and regulated legal process, and suggests that continued deviations from the Act could undermine its effectiveness.

Importantly, the post states that the Court’s recent decision does not determine the final outcome of the business rescue, the suitability of the BRP, or the ultimate fate of the company. Instead, it is described as an interim measure that effectively manages the situation for a defined period (referenced as roughly 90 days), during which further clarity is expected to emerge.

As outlined in the post, the Court has imposed ongoing reporting obligations on the BRP, requiring sworn updates every 30 days. These updates are said to include progress on publishing any new plan, convening and voting outcomes of creditor meetings, funds received, the status of any Section 11 mining rights transfer application, environmental remediation steps, mine security against illegal mining, and an accounting of post-commencement financing already spent.

The overall interpretation presented in the Facebook post is that the Court has allowed additional time for a revised rescue attempt, but under strict supervision. The tone suggests concern that repeated delays and the introduction of new plans after many years could risk prolonging the process without resolution, though this reflects the view of the posting community rather than an official legal conclusion.

So as far as I'm aware the following updates are due in the next few weeks and certainly going into Q2.

Next phase for MET1 is surely about timing of underlying catalysts across its portfolio rather than new narratives. Several developments are now clearly queued over Last bit of Q1 and into Q2 2026, which the market may begin to price in. Or not !

Evolution Energy Minerals (EV1) – Assays → Drill Transition

At Chikundo, the soil sampling programme has now been completed, with samples undergoing QA/QC before dispatch for assay.

Thisgives you a clear near-term sequence:

• Assay results (Q1 2026)

• Geological interpretation and target ranking

• Transition into a ~1,500–3,000m RC drill programme (subject to results, permitting and funding of which arguably they sorted recently)

Importantly, the broader 2026 timeline suggests:

• Jan–March: assay results and target definition

• April onwards: mobilisation and initial drilling (dry season start)

So near-term news flow is likely to be assay-driven, followed quickly by drilling confirmation of a VMS system. (or not)

Chilalo Graphite (EV1) – Financing & Development Milestones

Alongside exploration, Chilalo gives you a parallel development catalyst track:

• Q1 2026: resource development + pre-build works

• Q2 2026: completion of project financing

• Q1 2027: mining contractor appointment

• Q4 2027: first commercial production

The key near-term inflection is clearly project financing in Q2 2026, with funding discussions already underway via advisors and institutional channels.

This is critical because it transitions EV1 from optional story → funded development asset.

Fidelity Minerals (FMN) – Ground Access → Operational Activation

At Las Huaquillas, Fidelity has now secured surface access and initiated construction of an access road, enabling entry to historic workings and exploration zones.

Key near-term steps:

• Road construction underway now

• Completion targeted early April 2026

• Follow-on: mobilisation, underground access, sampling

• Preparation for drilling and updated NI 43-101 resource

This effectively marks the shift from concept → physical execution, with visible progress over the coming weeks.

CleanTech Lithium (CTL) – CEOL → Final Ratification & PFS

CTL has now agreed CEOL terms with the Chilean government, a major de-risking milestone.

Next catalysts:

• Q2 2026: expected ratification of the CEOL decree

• Publication of the Pre-Feasibility Study (PFS)

• Introduction of a strategic partner

This is arguably the most binary near-term catalyst, as ratification converts CTL into a state-backed, long-term lithium producer framework (40-year contract).

Putting It Together

Across the portfolio, the pattern is possibly:

• Q1 2026: (or early Q2)

– EV1 assay results

– FMN physical access progress

– Ongoing CTL de-risking narrative

• Q2 2026:

– Chilalo financing decision

– CTL CEOL ratification + PFS etc etc

Stacked catalysts. And possibly other updates o

New Position - https://evolutionenergyminerals.com.au/board-and-management/

Ray Voorhoeve

General Manager Site Operations

Ray Voorhoeve is an experienced mining and operations leader who has served as General Manager – Site Operations since June 2023. He brings a broad and practical background spanning mining, industrial relations, construction project delivery, and multi-country operational leadership. Ray began his career in South Africa’s mining sector with Northam Platinum, gaining technical and operational exposure within a high-performance mining environment. He later joined Samancor, then part of BHP Billiton, where he served as Industrial Relations Group Manager. Entrepreneurial by nature, Ray went on to co-own a construction company delivering residential and commercial building projects in Jeffreys Bay and the Steelepoort region in South Africa. He later transitioned into international operations when he was recruited by RBR as Country Manager for Mozambique, where he oversaw major project management assignments, including accommodation and camp construction for Sasol Temane and the Total LNG Project.

Across his career, Ray has earned a reputation for building reliable, high-performing teams, strengthening corporate governance practices, and ensuring efficient, stakeholder‑aligned site operations in challenging environments. He holds an Honours degree in Industrial Relations from the University of Johannesburg.

The Plant has three potential revenue streams being the production of electricity and steam, and gold

roasting. Subject to receipt of a competent person's report, it is expected that the Plant will require

approximately USD $4.5 million of investment to restart production of steam and power.

Update re Lions Bay Resources Offer for Vantage Goldfields

Plan to acquire Vantage agreed

Further to the Company's announcement on December 24, 2025, Lions Bay is pleased to provide an

update on LBR's offer for all the assets of the Vantage Goldfields Group ("Vantage").

Vantage was placed in Business Rescue following a crown pillar collapse at the Lily mine in 2016 and

comprises numerous mining leases in the Barberton region of South Africa with a historical resource

inventory of 4.5 million ounces of gold*

, a central metallurgical complex and extensive underground

development.

Following several months of negotiations, LBR has now agreed on a plan with the Business Rescue

Practitioner ("BRP") for the acquisition of the Vantage assets. The BRP is expected to sign and publish

the plan imminently at which point LBI will announce further details including the final terms of the plan.

The Vantage acquisition could provide all the necessary gold-bearing concentrate feed (having

historically produced such concentrates) for LBR's gold roaster project in Newcastle, should LBR decide

to reconfigure the Plant to include a gold concentrate roasting complex.

LBR is also considering the possibility that the Plant could feed power into the grid in Newcastle which

would become available for use at the Vantage mines, through South Africa's wheeling charge system.

This may have advantages including avoiding periodic load shedding customary in South Africa and

above-inflation power price increases.

*Historical resource based on a Competent Persons' Report ("Report") dated January 1, 2015,

prepared by Minxcon Consulting (Pty) Limited and authored by D van Heerden. B.Eng. (Min. Eng.),

M.Comm. (Bus. Admin.), ECSA, FSAIMM, AMMSA. The Report w as prepared in compliance w ith the

South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral

Reserves (July 2009 Amended Edition) ("the SAMREC Code") and the South African Code for the

Reporting of Mineral Asset Valuation (July 2009 Amended Edition) ("the SAMVAL Code") and

Section 12 of the Johannesburg Stock Exchange listing requirements. Mineral resources that are not

mineral reserves do not have demonstrated economic viability. A qualified person has not done

sufficient w ork to classify the historical estimate as current mineral resources and the Company is not

treating the historical estimate as a current mineral resource.

First-ranking fixed and/or floating charges over the following LBR assets:

LBR's bank accounts and all present and future monies credited to it;

a fixed charge over the Vantage tailings;

LBR and LBI are required to use their best endeavours to procure that certain other significant

shareholders of LBR grant a fixed charge over their shares in LBR in favour of the Company.

The Facility contains certain cross-default provisions which amongst other matters deals with the

performance of LBR in relation to the acquisition of the Vantage assets and the application of the

proceeds of the Facility. The Facility contains market standard representations and warranties from both

LBI and LBR in favour of the Company.

Metals One is an insider of Lions Bay and the loan is considered a "related party transaction" under

Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions

("MI 61-101").

Strategic Investment in Lions Bay Resources (LBR)

LBR to acquire cogeneration plant in Newcastle, South Africa

Metals One has announced its intention to convert USD $1.8 million of convertible loan notes ("CLNs")

into shares of LBR for a direct holding of 30%. It has advanced the full amount in order to facilitate LBR's

imminent settlement of the USD $1.36 million acquisition of a cogeneration plant located in the

Karbochem Industrial Park, Newcastle, South Africa (the "Plant").

LBR is a South African private company formed last year to create a vertically integrated South African

gold business. It is jointly owned by LBI, Metals One and by the Salamander Mining management team

("Salamander") headed by Graham Briggs (Non-Executive Chairman), the former CEO of Harmony

Gold, South Africa's largest gold producer and Lloyd Birrell (CEO), the founder and former CEO of Theta

Gold (ASX:TGM).

LBR will acquire the fluidised bed cogeneration Plant for USD $1.36 million with a view to restarting the

production of steam and power. The Plant was inspected and verified by TerraVista Solutions P. Ltd in

October 2025 and ascribed a replacement value of USD $39.6 million.

Pending confirmatory research and studies, the Plant may be reconfigured to include a gold concentrate

roasting complex, an alternative solution to exporting gold-bearing concentrate from South Africa to

Asian smelters for a significant discount to the value of the contained gold.

The Plant currently has the below specifications and associated infrastructure:

2 x 30 tonnes per hour ("TPH") Thermax combustion boilers

6 MW GE-Triveni steam turbine

The Plant is configured to take coal from local dumps and biomass as feedstock

Boiler house, turbine, control room and motor control centre

Compressed air plant and electrical sub-station

Inclined conveyor to six silos (1,500m3 each)

Lions Bay Announces Further Implementation

of South African Gold Strategy

Vancouver, British Columbia--(Newsfile Corp.

- March 23, 2026) - Lions Bay Capital Inc. (TSXV: LBI)

("LBI" or the "Company") announces it has increased its loan facility with Metals One plc ("Metals

One") from CAD $4.0 million facility to CAD $10.0 million to provide additional funds to accelerate the

creation of a vertically integrated gold business in South Africa through Lions Bay Resources (LBR).

LBR is currently owned as 47.5 per cent each by LBI and the Salamander mining Group with the balance

of 5 per cent owned by Metals One.

Metals One has announced its intention to convert USD $1.8 million of its loan facility into additional

equity in LBR so that its ownership of LBR would increase to 30 per cent and both LBI and the

Salamander Group would reduce to 35 per cent each.

In other significant developments LBR has reached preliminary agreement with the Business Rescue

Practitioner of the Vantage Goldfields Group on suitable terms for the purchase of the assets and

settlement of creditors. It is expected further details will be available in the next few days.

Additional Loan to Lions Bay Capital

To be applied by towards LBR's Vantage acquisition plan

Further to the Company's news release on December 23, 2025, Lions Bay has signed a binding term

sheet to increase its loan facility to CAD $10.0 million (the "Facility"), with the funds to be applied by LBI

towards LBR's Vantage acquisition plan and for general working Capital.

LBI has an authorised South African Reserve Bank channel for regulated lending and repatriation of

funds in and out of South Africa and has therefore been determined by LBI, Metals One and LBR that

advancing funds to LBI pursuant to the Facility is the most suitable route to provide the necessary funding

to LBR to advance its strategy.

The Facility is secured through:

First-ranking fixed and floating charges over all of LBI's assets, property, rights and undertakings

including (but not limited to):

LBI's common shares of Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC)

16,926,506 common shares

LBI's ordinary shares held (and to be held) in LBR (being 499 ordinary shares at the date of this

agreement) granted by LBI in favour of Metals One

All loan accounts to LBR held by LBI granted by LBI in favour of Metals One

All debt owing to LBI from GNT Mining in the amount of US$2.2 million, granted by LBI in

favour of Metals One

All of LBR's present and future right, title, benefit and interest in and to the LBR Bank Account

and all monies from time to time standing to the credit of the LBR Bank Account, together

with all other rights and benefits accruing to or arising in connection with the LBR Bank

Account (including, but not limited to, entitlements to interest)

Interest will be charged at 20% pa, which will be passed on to LBR

First-ranking fixed and/or floating charges over the following LBR assets:

Ah ok annoying. If you go

https://www.sedarplus.ca/home/

Lions Bay Capital Search in Profiles

THen search Documents

It will give their announcement

Https://www.sedarplus.ca/csa-party/viewInstance/view.html?id=0c11f8b7998bcd96a1be5c558e1ad02b3b441231b524d236#scrollTop

MET1 – Layered Exposure (Why this RNS is more interesting than it first appears)

One of the more interesting takeaways from today’s RNS is that MET1 isn’t just gaining a single line of exposure here — it’s building a layered position. On the surface, the headline is the 30% stake in Lions Bay Resources (LBR), which holds the cogeneration plant and is targeting the Vantage Goldfields assets. That alone is meaningful, as it gives MET1 direct exposure to both infrastructure and potential gold production.

However, there’s a second layer that’s easy to overlook. MET1 also holds roughly 19.6% of Lions Bay Capital (LBC), which in turn has a controlling interest in LBR. This means MET1 is effectively exposed to the same underlying asset base twice — once directly through its 30% stake in LBR, and again indirectly through its shareholding in LBC.

What this creates is a form of embedded leverage. If the strategy works — particularly if the plant is secured and Vantage progresses — MET1 benefits not just from its direct equity in LBR, but also from the uplift in value at the LBC level. It’s a more sophisticated structure than a typical single-asset junior, and one that could amplify returns without immediately requiring additional MET1 equity issuance.

That said, the structure cuts both ways. It introduces complexity, and markets often apply a discount to multi-entity setups like this until there is clear execution and cash flow. There’s also the risk of value leakage through multiple layers, particularly if further funding is required at different levels of the structure.

Overall, this feels less like a simple asset acquisition story and more like the early stages of a vertically integrated gold strategy being assembled across multiple entities. If it comes together, the layered exposure could prove very powerful. In the near term though, it may take time for the market to fully understand and price it.

I think you make a very important point there Fell. It's when all those private entities are working away in the background across Helium and Uranium that patience or belief is what is key. The question is now if we are part of a master plan that is much bigger than we are or not.

https://www.8vc.com/resources/apollo-partnership

https://www.deepfission.com/media-center/press-releases/detail/96/breakthrough-nuclear-startup-deep-fission-emerges-from-stealth-mode-with-4m-in-backing

https://www.overmatch.vc/about

Timothy Chilleri is a co-founder and the CEO of Subatomic, a uranium exploration and development company focused on bringing assets into production in the United States. Prior to its founding, he spent a decade in the industry as the founder of Golden Rock Research, a boutique market research and advisory firm focused on uranium and the nuclear fuel cycle. Prior to this, he was the head analyst for Sachem Cove Partners, a dedicated uranium hedge fund conducting extensive fundamental due diligence on the market and public investment opportunities. Before his time in the uranium industry, he was a physical commodity trader for Olam International, Red River Foods and Interra International. He began his career as a Series 3 licensed futures and options broker and earned his Bachelor of Arts in Economics from Wake Forest University in 2008.

Https://thediggings.com/usa/new-mexico/catron-nm003/township-nm230020n0100w/map

If anyone is geeky enough to be interested in who owns what where in red basin, this is the link to explore

The Novacore claims are NC followed by a number

https://thediggings.com/mines/a02sj000005vribyae

Which this one as an example will give you Nc 329 Novacore Exploration 34.3687°N 107.8727°W if you want to look on Googleearth or similar. Of which they have a total of 762 Mining Claims https://thediggings.com/owners/10635865

At a higher level, there are signs that MET1’s asset base could form the foundations of a U.S.-focused uranium platform aligned along established mineral belts, combining exploration exposure with downstream optionality via DISA. However, there is currently no evidence of operational integration across these assets, and no confirmed linkage between NovaCore and either Subatomic or DISA. Any platform thesis therefore remains conceptual rather than executed.

Two interpretations can reasonably be held at this stage. The first is that venture-backed capital entering via Subatomic could ultimately drive basin-level consolidation, in which case NovaCore’s position may become strategically important. The second, and arguably more grounded view today, is that NovaCore (under Herbert/Christopherson influence) may follow a Uramin-style path of proving the system through drilling first, with monetisation coming later. These are not mutually exclusive, and the most likely outcome may be parallel development that only converges once geological continuity is demonstrated.

In summary, Red Basin is likely a single geological uranium system with multiple parties holding different parts of it. There are credible overlaps in geology, people, and emerging capital, but there is currently no demonstrable coordinated strategy or corporate linkage between NovaCore, Subatomic, and MET1’s wider assets. This should therefore be viewed as an evolving framework rather than a definitive conclusion.

DYOR — this is early-stage and highly subject to change.

The Myriad transaction is a key datapoint. Myriad sold its Red Basin project to Subatomic Industries, a venture-backed entity supported by groups such as 8VC and Overmatch, for ~$2.5m cash plus a 10% free carried interest, alongside a stated strategic alliance beyond Red Basin. This introduces venture capital into the basin and suggests early-stage platform-style thinking, although it does not in itself prove any broader coordinated strategy.

There is also a notable technical overlap. Douglas Christopherson was directly involved with Myriad, conducting detailed reinterpretation of historical datasets and helping shape exploration strategy at a system level (including work at Copper Mountain, not just Red Basin). He is now involved with NovaCore. Alongside Neil Herbert, who has prior experience in building and monetising uranium platforms (e.g. Uramin), this suggests a consistent exploration philosophy focused on district-scale reinterpretation rather than isolated targets. This is a meaningful linkage in terms of technical thinking, but it should not be overstated as evidence of corporate coordination.

MET1’s own behaviour adds another layer. Its investment in NovaCore has been communicated in detail via RNS, with clear emphasis on scale and impact, whereas its increased ~19% stake in Evolution Energy Minerals (EV1), despite being material, was only visible via regulatory disclosure and not proactively highlighted. This asymmetry suggests a tiered approach, where certain assets are positioned as core narrative drivers while others are held more quietly as optionality.