Member Info for Dee12345

The intervals are too small, and they're beyond small for the depth.

At least the dusters are still located near Havieron!

Give it 5 years, and they'll pump this garbage all over again.

Why did anyone expect anything different?

Andii,

You're a nice guy - But we've all been there where we've made a bad investment, and struggle to call it until it's too late.

MARU is done, and worse yet, it was never going to succeed, either.

Start over, and put your money into making money, rather than chasing good after bad.

If you're worth it at an investor, you'll make it all back and then some in time.

I was told to wait until now and "then I'll see"...

Anyone got them yet?

Here are some Assays for you:

https://www.lse.co.uk/rns/WSBN/confirmation-of-hydrothermal-gold-copper-system-tvttilberg6aedn.html

6,000 Metres Drilled, and 3 years later there's another 5,947 Metres of Assays still not published.

You mean very strong BYE?

Funny, because I asked, and then got told off for asking.

Nobody but the CEO truly knows what's happening.

The only guarantee is what you're told is happening is different to what actually happens.

So yes, clueless - Because facts are meaningless here.

Yup Roland, it means Marula will be no more than a shell for someone else to back into.

This allows the CEO to play the same game again in the future with a new company, and getting away with not having any audited accounts.

Never accepted money from a company, and never will.

It's just, I was told I was clueless for not buying into tje story here.

No need to get bitter Molire...

We've all lost money somewhere, and it always ends in tears with this CEO - like it did with every single ASX company he was involved in, and now the UK market.

I've not been paying attention at all lately - Has he just folded the assets into an entirely new company?

I wonder whether that £1 Million from GMI even hits the bank.

They filed accounts of £100.

But you guys keep on believing.

Andii,

Non-Recourse means they can't seize OTHER assets outside of the scope of the SBLC.

E.g. car finance. They can only seize the car. Not your house, jewellery or TV.

I guess you love revisionist History Molire.

I called RAMP from 0.17c.

It's on my Twitter.

I called out WSBN from 2022.

Again, it's on my Twitter.

No coincidence.

The slightest bit of good news, and you MARU holders start piping up.

I'm not paid, but I'll call this out even more, because too many of you guys are making personal accusations.

Keep talking nonsense, yet you can't even tell me who's putting up the collateral for this loan.

So there's no collateral provided by anyone?

That's what you're saying?

Wishihadnt:

The loan is against an SBLC.

The SBLC is a Letter of Credit from a Bank.

When buying something internationally, you tend to use a letter of credit, which is the bank agreeing to lend the funds. You do this instead of a bank transfer for security.

Letters of Credit can be tradable instruments. SOMEBODY needs to have 6 million in funds or assets for that Letter of Credit to be issued. I don't know who that is.

If Peter issues Paul a letter of Credit, Paul can issue that to a different bank to cash in or borrow against.

That's what has happened here.

It's the original bank that is on the hook, and they then seek recourse.

Molire, WSBN is a pump and Dump. RAMP hit dusters on follow-up drill. I'm still 100% up.

What's your point? At least they have released drill results ;)

Pulled from my Twitter in response to Andy:

1. The Corporate Re-Structure was likely to be in line the requirements to secure funding.

2. It is €6 Million that is being borrowed AGAINST a Standby Letter of Credit.

I'm assuming the SBLC is a Transferable SBLC that is being issued by a potential off-taker as payment for material (likely Copper or Manganese).

The SBLC is likely a credit facility for multiple transactions, or a revolving SBLC to cover multiple shipments using a single SBLC.

In essence, the off-taker is using the Letter of Credit to make payment against/for delivery, and Marula Mining is using the SBLC to monetise pre-delivery.

3. If the grade and scale are there on delivery, then #MARU will do well.

If grade and scale are not there (which I don't believe it will be), then the debtor can seize anything related directly to the transaction - i.e. material and the plant.

It's risky as hell, and it can pay out, but previous form tells me that it'll all go Pete Tong as soon as it comes to delivering a saleable product.

As I said, the hype, the hope, and the letdown. This is just starting another cycle.

If that money goes to making shipments, and they successfully manage to do so, then well done.

If it fails, then the whole operation is on the line, and the off-takers will undoubtedly be wanting their money back, and so will the US debtor.

As an addendum, I would add that as usual, nothing is ever made 100% transparent and clear, and there are always follow-up questions required for clarification.

Yes mate, even I lost money in ACP, and probably should have seen the warning signs..

A bit like how none of you lot are seeing any here.

Would you give up 60% of your project to a 3 years in a row suspended company with no cash for only £25,000 in shares if it was any good?

They could issue £25,000 at 5p, £50,000 at 10p, or £12,500 at 2.5p... It would still all be the same.

Always smoke and mirrors here, and yet another garbage project being added.

Forget PREM, MARU is the new Banter Share.