Member Info for EarEyeAm

Everyone is hoping for a takeover and money in the bank this year, some won't admit it though, probably because of their trading agenda.

As per the below, saying that Zenith own the assets is an admission of guilt, it's not a get out clause for the crimes and breaches of treaty they've accumulated for 4 years. The Tunisian legal team should be telling the Government they have no chance and, best make early settlement. If they aren't saying that then they are either scared to or are no good at their job.

“The arbitration proceedings have been initiated following a series of measures taken by the Tunisian government to the material detriment of the commercial interests of investors in the Republic of Tunisia, including, inter alia, unreasonable and arbitrary obstacles in connection with the development of the Sidi El Kilani and Ezzaouia concessions.”

“More specifically, these include actions in violation, inter alia, of the terms of the Sidi El Kilani and Ezzaouia concessions, respectively, and unjustified obstacles to the sale of produced oil.”

“Since 2022, the Tunisian authorities have repeatedly obstructed and delayed the sale of oil from the concessions, preventing the continuation of production through deliberate obstruction of oil sales and preventing EPT from generating revenues and operating as a going concern.”

Andrea Cattaneo, CEO, commented:

“It is extraordinary that the Tunisian authorities have persisted along a now clearly established path of arbitrary behavior, illegal expropriation, and systematic violations of contractual and legal obligations – all while an international arbitration has been ongoing for almost four years. The latest illegal sale of our oil represents yet another blatant act of illegal confiscation.”

No worries here.

Tunisia would do well to choose early settlement before the Court throws the book at them. It will be much more exyfor them and the publicity will be very bad for their hopes of investment into their country.

Tunisia can't expropriate Zenith Energy sites, then wreck one of them and say "not our problem, you just need to spend $10m to get it working again".

The ICSID court will see right through all these dirty tricks.

The Treaty is there for just this kind of abuse of an investor into a country, the expropriation, the attempts to delay the cases or have them heard in their own country so that a biased decision can be made, making up false accusations of financial crime against subsidiary staff to try and get them extradited and imprisoned after a short meaningless trial in a kangaroo court as a way to end the litigation, selling our assets, etc etc.

There's a reason we have multiple leading Arbitration Lawyers and that none of them have questioned our claims, they all believe that Zenith's claims are based on rock solid evidence, otherwise they would have told Zenith to drop the case and they certainly wouldn't be representing us. The fact Charles Michel is also backing the case speaks volumes about how solid the case is.

The entire case is based on expropriation of assets. Turning around now and saying that the sites are owned by Zenith doesn't change their past crime of expropriation, all it does is admit they are guilty of expropriation.

Saying Zenith own the sites doesn't make Zenith liable for the damage, it's clear from what Zenith say, that Tunisia is liable because they expropriated the assets so it's their job to take care of those assets until the dispute is resolved "Taken together, these developments provide further compelling evidence of the ongoing damage suffered by the claimants."

Tunisia stopped Zenith from exploration, development and production on its licenses. Expropriation.

Tunisia sold Zenith's Oil and didn't give Zenith a penny. Theft.

Tunisia have stolen equipment from Zenith's site. Theft.

Tunisia have damaged Zenith's site. Damages.

No blame for anything can be switched to Zenith.

"People here don't believe me"

Everyone believes you, it's just that certain people with an agenda to disinform will try to make out they don't.

Spodumene for April contracts up again.

+59 now $2313

🤡🤡😂😂

Today's RNS has me thinking about Punitive Damages.

The case for the expropriation of Zenith's Oil and Oil Assets is a clear cut case, especially after today's revelations. The $640m is based on the losses incurred, because these are tangible numbers that loss adjusters can work with

In ICSID and ICC cases, it is left to the Court to decide if any ADDITIONAL sums should be awarded for Punitive Damages.

In today's RNS we see that the site assets have been removed, vandalized or broken, such that significant investment in new assets would be required in order to bring the site back into production.

This is where Punitive Damages should definitely be awarded on top of the claim.

Punitive Damages also apply to any of the shenanigans Tunisia has used to delay the case, to prevent Zenith producing or selling Oil, and many other elements in this claim.

I'd personally slap Tunisia with a £50m Punitive Damages award for trying every dirty trick in the book in order to try to make Zenith Energy give up.

I said last week it's getting to squeaky bum time for Tunisia. This admission of guilt shows they can feel the squeak getting louder and louder, basically they have crumbled and their legal case with it. There's no way on Earth they should continue with their court case façade, which only leaves EARLY SETTLEMENT as an option.

"The formal recognition by the Republic of Tunisia of the claimants' ownership of both the Concessions and the associated oil inventory represents a highly significant development in the context of the ongoing proceedings before the ICSID. This is because it directly supports the position consistently advanced by our subsidiaries and further reinforces the strength of their claims."

"We also note the highly unusual nature and timing of the extensive damage inflicted on the Robbana concession. The fact that critical infrastructure has been vandalised and equipment removed, rendering the site inoperable for an extended period, raises serious concerns, particularly when considered alongside the continued pattern of conduct that has caused sustained harm to the claimants' assets and operations in Tunisia."

"Taken together, these developments provide further compelling evidence of the ongoing damage suffered by the claimants. Zenith's claimant companies remain fully committed to pursuing all available legal remedies to ensure that their rights are upheld and that full compensation is obtained."

Blame for the damages to the infrastructure are not being put on Zenith, that is clear enough from this excerpt:

"Zenith considers that these developments have further exacerbated the damages suffered by its subsidiaries."

** SUFFERED **

April +28 $2254

May +250 $2460

Keeps increasing month by month, with September contracts now at $2500.

https://www.cmegroup.com/markets/metals/battery-metals/spodumene-cif-china-fastmarkets.settlements.html

"Zenith's claimant companies remain fully committed to pursuing all available legal remedies to ensure that their rights are upheld and that full compensation is obtained"

"ALL AVAILABLE LEGAL REMEDIES"

There are only TWO available legal remedies:

1) Arbitration decision

2) EARLY SETTLEMENT

I firmly believe that the admission of Oil ownership in today's RNS is down to Charles Michel speaking directly with the Tunisian Government and telling them it's his expert view that the Oil belongs to Zenith Energy. Clearly talks have been progressing outside of the Arbitration legal framework, which points to one thing, actively "pursuing all available legal remedies" including EARLY SETTLEMENT.

Takeover Bid Exclusivity Period:

"The Atlantic Board appointed Canaccord Genuity and HopgoodGanim Lawyers to assist it with its assessment of a Transaction and granted exclusivity for those discussions on 23 January 2026." The info leaked, causing a spike on ASX on 19 February, the company were told by ASX to explain the spike or halt trading, this spike happened almost a month after and 3 days before the exclusivity period was to finish.

So what we know from that, is that to enable Due Diligence on the company making the offer and, to discuss the offer, terms, etc, Atlantic Lithium will do a one month secret exclusivity period, even if the offer is a price that the board would accept, the Due Diligence has to be done before any announcement is made, because if they announced an offer that turned out to be a scam (See past UPL RNS for an example https://upland.energy/corporate-update-3/ ), it would cause a pump and dump by the scammer and Atlantic Lithium Directors would be left with egg all over their faces and having to explain it to the authorities and to investors.

Ratification was announced on 19 March. If offer(s) came in the following 7 days, then they would be kept secret until 20-27 April while Due Diligence and discussion is completed. It's possible that a bidder could request the optimisations were kept secret during discussions, which might explain why they've not RNS'd that information yet.

It's 14 April now, so that's 6-13 days to find out if any offers arrived in the first week after Ratification, or 1-13 days if they want to recommend any offer that might have arrived the week after Ratification.

SharketMare,

It's you that's talking nonsense, clueless nonsense at that. Not even worth wasting my time dissecting your failed logic, sticking you on filter instead, BYE!!

Stick the easy money where the Sun don't shine.

Hold the stock for the takeover bid, 50p+, simple, no need to watch the share price, no need to try and trade it when you don't know if you'll lose out because the takeover news lands on ASX overnight. I'm not selling any of these and I have a lot of them.

There is no way on Earth that Atlantic Lithium would appoint Lawyers for a low ball offer. We all know how much Lawyers cost, a fortune, money that Atlantic Lithium would not waste discussing a low ball offer that was the same £222m they flatly rejected 2 years before. The only thing that warrants Atlantic Lithium paying Lawyers is if the offer was 40p+.

"The Atlantic Lithium Board appointed Canaccord Genuity and HopgoodGanim Lawyers to assist it with its assessment of the Proposal and entered into exclusive discussions and provided due diligence to the potential suitor (being an entity not otherwise associated with Atlantic Lithium), in relation to the Proposal."

Trades history:

Today - 184 so far - 3.25m

10/4 - 111 - 2.2m

9/4 - 154 - 2.3m

8/4 - 189 - 2.4m

7/4 - 205 - 4.2m

2/4 - 106 - 2.2m

1/1 - 142 - 1.6m

Manx71,

Not a chance. By flatly rejecting the offers of £222m (30pps now) the board made it absolutely clear in 2023 that they would not enter discussions on any low ball offer. There's no way they would then go into discussions for a low ball offer 2 years later with the project worth far more.

Below 40p is not something the board would enter discussions for.

40p is not worth putting to shareholders because the board say the company is worth more.

40p is a starting point for discussions, it's not a low ball offer but at the same time it's not high enough to put to shareholders, that is the reason they go into discussions, so that the company can advise the bidder of their valuation and hope that the bidder raises their offer closer to that valuation.

Something else I just noticed on the chart, the two previous rises were at the same time of year as now.