Member Info for EarEyeAm

Definitely a buy. Last time anyone would have got that price for a sell of that much stock was 21/4. And it ain't no worked sell either, as they would never have achieved an average price that high either.

One thing I'm not too pleased about is this:

"Both Zenith and Ajax have each agreed to invest an initial £200,000 in Reveille, each securing a 25% interest in the issued share capital."

So we get 25% of the Uranium project, but AC and Ippolito Ingo Cattaneo, presumably a relative get 25% to themselves for a £200k investment. That seems way too good a deal for them based on the value of the project. We just raised a load of cash, we should have invested £400k ourselves and got 50%, instead we have them carving off 25% for themselves.

This Uranium spin-off, combined with the placings announced 2 days ago, suggest to me that AC and the legal team have concluded from the ICSID hearing that Tunisia is not going to make a list ditch attempt at a late settlement, otherwise Zenith would have held off on both the placings and uranium spin-off and waited for the settlement cash instead. So we should now look at the ICSID claim running it's course, with the decision announced later this year.

Roll on the Solar. Next up quite possibly a sale of one of the groups of projects that are close together, so 50-60MWp sale and cream some profit to invest in building other projects. (As per AC's interview yesterday or the day before).

RNS OUT on Euronext:

Spin-Out of Uranium portfolio and Investment into Reveille Resources

https://live.euronext.com/sites/default/files/company_press_releases/attachments_oslo/2026/04/29/671933_Zenith%20Norway%2029.04.2026.pdf

EXPERTS!!

The Company is pleased to announce the appointment of TWCOG LLP ("TWCOG"), a leading advisory firm with offices in London and Singapore. TWCOG was founded by Mr. Anthony Way, who has participated in more than sixty international disputes in the oil and gas industry and has provided expert testimony in over fifty arbitration cases. His extensive experience includes involvement in multiple ICSID claims concerning the expropriation of assets by States from oil and gas companies.

TWGOG has worked closely with the Company's independent reserves evaluator, Chapman Hydrogen and Petroleum Engineering Ltd. ("Chapman"), a professional engineering and reserves evaluating firm based in Calgary, the epicentre of the energy industry in Canada, with more than 50 years of experience in the oil and gas industry.

Quantification of Damages

TWGOG, having reviewed previous damage quantification, has reappraised the claimed amount under the ICSID Arbitration, which as last announced on October 3, 2024, by the Company, was previously calculated in the amount of US$503 million.

A new total claimed amount, considering various additional breaches and obstructions, has been assessed in the total amount of US$572.65 million

Nobody will see the calculations for legal reasons.

The figures WERE NOT calculated by Zenith.

The figures were calculated by experts from the Oil industry and ICSID approved loss adjusters. We can be 100% assured that every penny claimed is valid and, not a penny more than we are entitled to has been claimed

Late reported buy 714,594 shares at 16.35p, £116.84k

Thanks for this Nordinvestor, very interesting!!

I said in the past that a decision would have very serious implications and financial damage for Tunisia and that they would have to pay the cost using their foreign currency reserves, these are confirmed in the article.

I thought Tunisia would eventually realise how bad the situation for them actually was and they would try to cut the impact by making early settlement of say 50% of what was being claimed, but unfortunately Tunisia stuck it's head in the sand and hoped the storm would blow over. Trying to get the case dismissed by throwing in last minute curve balls was tried, but never going to fool our legal team or the ICSID. So it's no wonder we see heads rolling in Tunisia.

And as I said, the Tunisia legal team were completely out of their depth, also something confirmed in the article.

Tunisia can still afford to pay the fine even if it's $1bn by the time ICSID have added Punitive Damages and interest compounded monthly for 3 years. It shouldn't get near a Sovereign Default being declared or seizing assets.

"As of early March 2026, Tunisia's foreign exchange reserves stand at over 25.4 billion Tunisian dinars (approx. $8-9 billion USD), providing about 107 days of import cover. Reserves have seen a slight increase from 2025 levels due to rising worker remittances and tourism revenues, though they face pressure from external debt servicing and high import costs."

The Iran war cutting supplies of Gas is going to push Spain to build out even more renewables and therefore a need for even more BESS. It looks like being one of the BESS sales hotspots for the next decade.

"Installed BESS capacity in Spain grew by 589% since 2025 blackout"

https://www.pv-magazine.com/2026/04/29/installed-bess-capacity-in-spain-grew-by-589-since-2025-blackout/

Ah, the negative spin trundles along, day after day of baseless nonsense intended to put people off buying the stock, baseless nonsense that those posting it know full well is baseless nonsense. Don't fall for it.

As usual, if the negative spin fails, just start harping on about the Directors and their salaries, where nobody can prove any facts so the negative spin can be perpetuated on baseless drivel. Same trader mind games as always.

How many times did I say the pipeline would be down tools for the rainy season and that it was scheduled into the timeline?

How many people said I was talking rubbish?

Well, the proof of the pudding is in today's RNS. 'PLANNED SUSPENSION '.

"Approximately 50% of pipeline welding has been completed. Trenching activities are scheduled to recommence in May 2026, following the planned suspension due to the current rainy season."

Final Results RNS just out.

Placings RNS at 7am, it was announced already on Euronext. Multiple placings, debt settlement with shares issued, new convertible loan note. A lot to read, don't give up until you at least read down to AC's comment!

https://newsweb.oslobors.no/message/671573

"some weeks" of back and forth before the Arbitration Panel go off to deliberate. Result in the second half of 2026, in the past they said summer (June to August) and by year end, so it a bit vague on when we'll know. I hope at the end of the back and forth that the ICSID advise of their expected timeline, so we have something more concrete to go by.

"An excellent week in Paris with Prof. Thomas Clay, Charles Michel, Julie Spinelli, Ben Juratowitch, Matthieu Gregoire, and Simon Le Wita. We are confident in our legal position, and following proceedings that clearly demonstrated the Tunisian authorities’ arbitrary conduct, we have full confidence in ICSID recognising the merit of the claims."

We know from what Tunisia said in their submission to ICSID, they want the claim dismissed at this hearing. They were not indicating any interest in early settlement.

Seems from the Zenith X post that it's unlikely the claims will be dismissed. So the Arbitration Panel will go away to assess the claims, determine who is right under the Law, determine if the amount claimed is justified, then make their decision.

I can't see it going well at all for Tunisia. They seem to be treating this like children arguing over who's toy it is, so amateur it begars belief.

I'm sure there's plenty on nonsense and abuse behind those lines of green I see, but I only see a green line, so none of it enters my world.

No uptrend lasts forever or we'd all be billionaires by now.

Every break from an uptrend whether a break upwards or downwards is an opportunity, some investors consciously take the opportunity, automated trading software always does, automated trading software is used by millions of investors so automated trading is 'the crowd', it's not people looking at screens all day. The chart tells the story of the crowd, of the millions of automated trading systems that make the trends and swings in small cap stocks. A lot of people misunderstand Charts, so there is lesson 1 for them.

Meanwhile, I'm looking at a possible Pennant forming now, it's not fully formed yet but if it does form then I'll do a new chart that shows it and post it on here.

Plenty of decent sized trades today, not beer money trades.

Scroll down to the ASX chart on the link below, then click on 1 day setting. Looks good to me. Momentum built over the day.

https://www.asx.com.au/markets/company/A11

"A mining feasibility study (Pre-Feasibility Study - PFS, or Definitive/Bankable Feasibility Study - DFS/BFS) is officially signed off by a Qualified Person (QP) or Competent Person (CP), typically under the guidance of the company’s Board of Directors and senior management."

"Qualified Person/Competent Person (QP/CP): An independent or internal professional (engineer or geologist) who certifies that the mineral resources, reserves, and technical aspects of the study are accurate according to professional codes."

Elevra don't sign off anything, they are given the information in the DFS after the Qualified Person/Competent Person has signed it off.

Still the baseless nonsense continues all weekend.

There is no such thing as DFS approval by Elevra, the DFS is signed off by the chief geologist and that's it, just like an accountant signing off accounts, the chief geologist is the expert with expert knowledge and experience to sign it off, Elevra have nothing to do with it.