Member Info for Gallmat

Tax credits.

I still need to read but this guy on X has actually posted some interesting articles and in a timely fashion

https://x.com/OC7990/status/1877820545363812738?t=Z8T2XXhDB7uiQJPfFopKOQ&s=19

BTW guys. I have asked a series of questions to cotec, today they thanked me for them. They will revert soon.

I was asking them

1. To expand on the competative landscape for securing feedstock. Are the people selling scrap focused on the price we pay or carbon intensity. And how we rank on both. Also asking if we are facing strong competition in our key focus area of electrical scrap ( I noted 1 other company was working on a solution).

2. If they have a cost curve for Nd. We know we have a low AISC, but showing our relative position might visualise the edge we have vs primary producers

3. I asked them about recycling as a business. How sticky is the moat when you build relations. I imagine if your output is good, you pay a fair price they are happy and have little incentive to move supply to others.

Given datacenters will grow 300pct in value per forecast, any relationship basically gives us great organic growth from partners in the first hub and spoke.

There were a few other minor questions, if there is anything interesting I will update u and also encourage them to formally comment in their next video.

Good weekend all!

Thanks Gareth for the Zak mir quote.

He has interviewed our CEO before , in this our CEO stated pat think the resource is 10 to 20m oz, way above the 7.2m announced so far.

I would highly recommend the vsa videos.

I also have a funny one of the ex director of the GSI ( Indian side) saying how the current announced resource is too low. It seems like india are making many of our arguments for us:

1. Is it valuable, they nicely auction it for us and say so in times of india

2. State there is more gold :)

3. They also once made an agreement to give us the license which was presented in court ( but did not do their side). Does indicate we have some rights.

4. They also said they will give a mining license to the winner of the auction, so many arguments about the mine not being developed for various reasons go out the window.

If u want Info just ask

Welcome guys. Glad to have you aboard.

We are a friendly group so feel free to ask questions. As background I speak to the CEO on a regular basis. Today I even had contact to clarify some things on the RNS.

Have a good weekend

Nice read, thx. I will add it to my archive

The CEO said it has been discussed very extensively. I just wanted to point out it was not done and dusted.

All new info is always greatly appreciated !

Typing like a blind man today. Apologies

Sheer

To be clear the seat and juridstiction are not the same thing. They agreed the location, but I am 100pct sure they will question the juridstiction ( merit)of the claim.

They will always day BIT is not relevant etc, it costs nothing to do this and even I'd you have a 0.01% change of winning the argument you make it.

Hope this clarifies your earlier statement that we are put of the woods

I am not talking down the chances of the SPAC, I like the stock alot.

Just focusing on the most perfect case is not my style. I like to consider what might go wrong and how I would react.

Things rarely go perfectly to plan so I just keep an open mind to all scenarios

I think myles has valid points. If the spac does not proceed then I am not so sure. But hey, like you say cross that bridge when we get to it.

In the next month or so we will have some hint on usa policy direction with a readthrough to the success of the SPAC listing.

Also remember challenging juridstiction ( authority) of the court is part of the course. If you are a government you will always argue there is no reason for BIT to apply. It is a zero cost argument.

My feeling is that there has been so much interference in india over the years this has to logically apply.

They did dismiss our license claim due to the recent change in the law, but the courts have never dealt with the issue of all the blocking before this date.

Juridstiction is my last mini fear

I know this one quite well. From where we stand now it is not as bad as it seems. I would say on a claim to market cap basis there are better options.

You always need others to be interested and to be honest having it locally just is a barrier.

If we have say 20m in sales and 7million ebita it will take time to get real cash built.

If we could even realise 50m usd from the mine we could probably replicate a wholly owned cotec operation without support. 50m to generate our own 260m npv projects seems great!

Releasing cash from songwe puts us just in a new level. Being funded with an expansion plan just drives the equity value of recycling business allowing expansion. It is really a virtous circle.

I feel so much rides on usa policy actions for our cotec business and also the change of our SPAC.

I never thought I would want Trump madness ( I dislike him) but come on Trump go nuts!

It does not look like the guys in usa want to go slow raising 53m usd. I think that is the mindset difference in USA vs Europe.

If they have a world beating idea, they give it a good valuation and go after it.

Maybe if we see something good from mine sale we will also become more aggressive.

As noted in vsa the ceo will be in london around Feb. Probably 2nd to 3rd week I hear

Happy weekend all

TBH I never really put much weight on the WA assets after the events in mali.

BTW, confidentiality implies things are confidential if any side requests it.

However I'm there is a legal obligation to disclose things we can. Listed companies need to update on material items so the claim amount must be discussed.

Checked with CEO. The main play here a nice SOC is very much in play.

This shows a trippling of projected data enter spend. So this thinking probably underpins that cotec can see a business that is 3x that of the DFS.

It is quite exciting, because our recycling business can have a strong moat if we are first mover. The business will be quite boring, with good margins and just expand naturally as our feedstock providers expand.

Really a beautiful setup if it can work.

I am not sure if they will be able to release the methodology now.

Just knowing if we will use npv/royalty/market comparable would be great. The royalty angle may not give the largest number but might make it easiest to pin down a Conservative award that is large

Data center articles.

If we can make agreements with key data center providers now, they are forecast to expand strongly. We would have a built in way to expand over time.

I think if we get news on any strategic partnership this will really jumps as it proves we are credible.

There is alot to play for here.

The SPAC can maybe set us free by giving us capital but if not I do not fear some equity.

The prize here seems big and it is a growing market

https://www.precedenceresearch.com/data-center-market

I think our focus is just electronic waste due to available supply. There is alot in the press about the growth of data centers. There Is also alot about how AI has huge power consumption and our electricity consumption will expand ( an interesting sector and boost for wind power).

https://www.goldmansachs.com/insights/articles/AI-poised-to-drive-160-increase-in-power-demand

Https://app.dealroom.co/companies/cyclicmaterials_earth

The company is private but I believe the value is close to 300m, this link shows a range up to 300m.