Member Info for EarEyeAm

At some point L0ngterm you might get it, but I doubt it very much, as all you do is stick your head in the sand and keep repeating like a broken record

Here's the FACTS!!

"Minerals and Mining Act, 2006(ACT 703)" I hope you understand that this is THE Legal document!

From the index: 25) Royalties

Item 25. A holder of a mining lease, restricted mining lease or small scale mining licence shall pay royalty that may be prescribed in respect of minerals obtained from its mining operations to the Republic, except that the rate of royalty shall not be more than 6% or less than 3% of the total revenue of minerals obtained by the holder.

https://www.brr.gov.gh/acc/registry/docs/MM-Minerals%20and%20Mining%20Act,%202006(ACT%20703).pdf

Clearly the Royalty IS WITHIN THE LAW, it is not referenced anywhere else, IT IS WITHIN THE LAW.

And here we see that, as I said, the new Mining Law will include the new Sliding Scale Royalty. And the work on the new Mining Law HAS BEEN COMPLETED, therefore expect it to be laid before Parliament imminently!!!!

"Major Legal Overhaul"

"The CEO disclosed that a comprehensive review of the Minerals and Mining Act, 2006 (Act 703), and the Minerals and Mining Policy 2014 has been completed."

Among the key reforms:

• Revocation of LI 2462, which previously permitted mining in forest reserves.

• Introduction of a new medium-scale licensing category to bridge the gap between small-scale and large-scale operations.

• Phasing out of development agreements, which he said had been abused by some companies.

• Proposed reforms to stability agreements.

• Introduction of a new royalty regime to allow the state to capture greater value during periods of high gold prices.

“This is not about punishing investors,” Mr. Tandoh explained. “It is about ensuring that when God blesses us with high prices, Ghanaians also share in that blessing.”

https://www.gbcghanaonline.com/news/minerals-commission-revokes-300-licences-announces-sweeping-reforms-at-maiden-mining-local-content-summit/2026/

The only way I see Ghana getting 'value add' from it's Lithium is by a company like CATL or BYD building a Battery Factory in Ghana, that company would buy the Spod, ship it to it's own Lithium Refinery, then ship back the Lithium to it's own Battery Factory. If that is to happen it needs to happen before Atlantic Lithium sign offtake agreements with other companies, which will start happening once Ratification and FID are signed off, in other words, within a short few months. This is another reason why bid(s) for Atlantic Lithium could come in immediately after Ratification, because buyers would want all of the Spodumene themselves, they wouldn't want Atlantic Lithium to sign those offtake agreements.

Panman,

ICC-2 Annulment potentially any day now, if that happens then the drop on ICC-2 will be seen by the market as justifiably invalid, backing up Zenith Energy's legal position on the Arbitrations, and the price could shoot back up very quickly.

ICSID hearing in April. Tunisia have just a couple of months to offer an acceptable settlement or be damned, because if they allow the hearing to go ahead then they have committed themselves to the decision of the Arbitration Panel. The deliberation is done in secret, so Tunisia would have no way of knowing how well they were doing, they would only see the decision when it's announced, so there would be no new information incoming to Tunisia for it to be pushed into a settlement, it must make that decision before the hearing based on the arguments and evidence they have vs what the Zenith Energy legal team have put forward. Our case file will be rammed full of indubitable claims backed up by indisputable evidence, so if Tunisia decide to go on with the hearing it would just be a case of them sticking their heads in the sand and praying it all disappears.

"The JV is engaged with the UK Environment Agency at both local and central levels to create a framework for future deployments, across the UK, of AFC Energy's future Hy-5 units through accelerated permitting."

Presumably as part of this:

https://environmentagency.blog.gov.uk/2025/07/02/improving-our-environmental-permitting-service/

Here' another reason a Lithium Refinery isn't going to happen:

"Constructing a lithium refinery typically takes 2 to 4 years from the start of major construction to becoming fully operational. While the physical build itself can be completed in roughly 24–28 months, the entire process—including, engineering, permitting, and final commissioning—often pushes the timeline toward the 3- to 4-year mark, with some complex projects taking up to 5 years."

And they currently have NO TAKERS, and it's Ghana, so you're looking at 6-7 years!

Ewoyaa will be up and running in 1 year, so a Refinery would only see about 6 years worth of it's output, and only 50% of that because the other 50% is already in agreements to go directly to Elevra (Piedmont). So overall a Refinery would only see 25% of the Ewoyaa Lithium when it's not even viable for 100% of it.

A Lithium refinery is NOT viable without at least THREE Mines up and running. It would cost $500,000,000 to build a Lithium Refinery, it's not worth doing it for Ewoyaa. No other Lithium mines are in the pipeline. It's a pipedream unless they find and prove up significantly more Lithium, which won't be happening anytime soon (look how long it took ALL to prove up it's resources to a DFS and FID viable amount.

https://www.ecofinagency.com/mining/2304-46675-ghana-refining-lithium-locally-a-500m-bet-warns-natural-resource-governance-institute

"Ghana will no longer ship unprocessed manganese, bauxite, or iron ore abroad. I say by 2030", he never mentioned Lithium in that because nobody is going to build a Lithium Refinery in Ghana for the output from Ewoyaa, it's not financially viable, especially when you take in the risks of a future Lithium price drop.

Ewoyaa will get Ratification, there's no other option for Ghana if it wants the World of Mining investors and Mining companies to believe what it said at the Mining Indaba about Ghana being the number one choice for Mining investment.

The Sliding Scale Royalty was created in order to facilitate the Ratification of the Ewoyaa Agreement, both are in Parliament and will sail through. All the other stuff that's going on around Mining is just good for the sector and good for getting companies to look at Ghana, and perhaps look at acquiring Atlantic Lithium once Ratification is in the bag.

Mahama unveils 6 pillars to transform Ghana’s mining sector at Local Content Summit

https://www.myjoyonline.com/mahama-unveils-6-pillars-to-transform-ghanas-mining-sector-at-local-content-summit/

Government puts measures in place to scale up mining sector in global value chain

https://www.gbcghanaonline.com/general/government-puts-measures-in-place-to-scale-up-mining-sector-in-global-value-chain/2026/

Ghana Advances Mining Diversification with Over 90 Active Exploration Projects

https://energycapitalpower.com/ghana-advances-mining-diversification-with-over-90-active-exploration-projects/

Demonstration day: Tuesday 3 March, 10:00am

PRIVATE INVESTORS day: Thursday, 5th March 2026, 10:00am to 12:00pm

As I've said before, I fully expect an INSTITUTIONAL INVESTORS day prior to the PRIVATE INVESTORS day, so that will either happen on 4th March, or 1st/2nd March.

There's no way on Earth they are going to do a PI's event day but no II's event day. In the past they have advised doing II event days prior to meetings and events that PI's were invited to. The II events are for 'sophisticated investors' that are allowed under the listing/FCA regulations to be told forward looking statements such as sales pipeline details, margins, expected earnings, profits, etc.

Armstrong Investments Limited. In case anyone wants any info on them.

https://services.gov.im/ded/services/companiesregistry/purchasefileanddocumentlist.iom?BusinessEntityId=103249

7MWp "Upon completion of the construction, the Company estimates gross proceeds of approximately €14.8 million, in the first 10 years." Equals €2,114,285 per MWp.

7MWp cost €3,870,000 including the land. Equals €552,857 per MWp

Profit: €2,114,285 minus €552,857 equals €1,561,428. A return on investment in the first 10 years of 282.42%.

The current 125.5MWp portfolio would have gross proceeds of €265,342,767 over the first 10 years, generating(!) €195,957,597 in gross proceeds.

A 200MWp portfolio (at end of 2026) would have gross proceeds of €422,857,000 over the first 10 years, generating(!) €312,283,023 in gross proceeds.

Solar panels last at least 25 years, some up to 40 years with minimal degradation, and these are now over 25-year-old technology. Newer panels are expected to last even longer with the new technology that Zenith Energy will be installing, so these numbers are not even the minimum return on these projects.

https://www.energysage.com/solar/how-long-do-solar-panels-last/

"multiple units, each producing up to 500kg of hydrogen per day, are planned as part of a UK‑wide accelerated permitting framework."

Boom!

PepeT2,

OK, no worries, as you say, it'll all become clear soon enough, and not a discerning factor as far as investing in AFC goes.

"A PRACTICAL ALTERNATIVE TO DIESEL, AVAILABLE NOW"

Boom!

PepeT2

Thanks! 😃

In 2023 AFC built the pilot plant, investors asked at meetings where it was and were told it was a secret location in the UK not too far from Dunsfold. Launched December 2023.

https://www.offshore-energy.biz/afc-energy-starts-its-first-ammonia-to-hydrogen-cracker-demonstration-plant/

https://www.waterstofnet.eu/en/nieuws-enkel-voor-wic-leden/worlds-largest-ammonia-to-hydrogen-cracking-pilot-starts-up-in-uk

The video is from 22 July 2025 and he says it's been there 18 months, so built December 2024. it's also 400kg/d.

Is it the same plant in the same location, as in, investors were lied to about it's location in 2023?

Is it the pilot plant that was built in 2023 that was moved to Dunsfold in late 2024?

Is it a separate pilot plant to the one that was built in 2023?

Nojhead,

If we undercut other competitors and sell at £15/kg then a Hy-5 at 500kg per day would be revenues of £7,500 per day, £2,737,500 per annum. ICL looking at multiples of this.

It soon adds up with a few HY-5 deployed.

Excellent news!! COMMERCIAL SALES of Hydrogen at a bargain price compared to existing suppliers, will have no trouble selling it.

Training at Dunsfold doesn't mean the pilot plant has been moved there, I don't see any room for it there, it's too big, which is part of the reason it was never built at Dunsfold in the first place. Also extremely complex, so I don't see them spending months at a time moving it twice.

On top of which, ICL is getting Hy-5 Ammonia Crackers. Operatives can be trained on Hy-5 units and AFC's in house testing systems until the pilot plant is moved.

"AFC Energy continues to work with its Joint Venture ("JV") partner, Industrial Chemicals Group Ltd (ICL), to establish hydrogen production, through multiple Hy-5 ammonia cracker units from AFC Energy (each capable of producing up to 500kg of hydrogen per day), at ICL's facility in Port Clarence, Middlesborough."

Current Market Cap £22.4m

7MW Solar: The sale value of these 3 properties, once in production, is estimated to be 9.1 million Euro. €1.3m per MW. At today's exchange rate is £1,133,704.

Existing Solar Portfolio 125.5MW. Once in production would therefore be valued at £142,279,852

200MW by year end. Once in production would therefore be valued at £226,740,800

Net Assets excluding Solar was £65.63m

Plus Uranium

Plus Arbitrations

Yet Current Market Cap only £22.4m????

Too late, I already got bored with this pointless conversation.

"This message has been filtered, please adjust your filters to view"

Nobody stays in a stock falling from 68p to 6p if they have at least two brain cells to rub together.

The old 'hard done by shareholder' is a very old and unprovable claim, for example, Sheriff89 has only been a member here since 4th Apr 2025, yet want's us to believe they were in here 5 years ago, which I for one take with a barrow load of salt.

In any case:

The price has GONE UP loads recently

The Royalty is just 15-16 DAYS AWAY

Ratification is IMMINENT

A share price ROCKET is about to TAKE OFF

Therefore, these 'digging up the past' posts are IRRELEVANT