Member Info for harvd

A realistic sale price for the Aftan mine (Tantalite Valley Mine) in current May 2026 market conditions is likely between US$22 million and US$28 million.

This range reflects the baseline of the existing legal award plus a "market premium" for the significant price appreciation in both tantalum and lithium.

Valuation Components

The "Floor" Price (US$15M+):

Kazera already holds a US$11.9 million arbitration award against the previous buyer.

This award is accruing interest at 20% per annum (approx. US$1.8M per year).

By May 2026, the debt alone (principal + interest) exceeds US$15 million. No rational seller would accept less than the cash they are already legally owed.

Tantalum Uplift (+US$4M to US$6M):

Tantalum metal prices have reached US$560–$640/kg, a 63% increase year-to-date.

Aftan produces some of the world's highest-grade tantalum ore. Applying a conservative 40–50% premium to the original US$13M valuation for the tantalum component adds roughly US$5M in value.

Lithium Premium (+US$3M to US$7M):

Lithium carbonate prices have rebounded to US$25,156/t as of April 2026.

Aftan's maiden JORC resource confirmed high grades (up to 5,259 ppm Li₂O).

In 2022, the lithium was largely "prospective." In 2026, it is a proven resource in a high-demand market, commanding a significant strategic premium.

Revised Deal Structure Considerations

A new buyer would likely face a higher headline price but could negotiate terms to mitigate risk:

Cash Buyout: A clean exit for Kazera would likely fall at the lower end (~$22M) to avoid further legal delays.

Contingent Payments: A deal closer to $30M might involve a lower upfront cash payment with larger "milestone" payments based on production levels.

Royalty Retainment: Kazera is unlikely to drop its 2.5% life-of-mine royalty, which is now exponentially more valuable due to current spot

prices.

Well most here know what we are waiting for. 2A permit granted "Imminently" could be tomorrow, could be next year but BANG! 1 to 2p uplift instantly. Supreme Court judgement in our favour and another offtake agreement BANG! Should be another 1p instantly added to the share price.

When there is little chance of the above occurring money can be deployed elsewhere to work.Those in the know "know" when to reinvest, I'm taking the recent share activity as a sign and have added. I may be wrong, but been here long enough, like FB, to spot the change in sentiment.

No advice intented,DYOR and good luck all.

You may be right Lamps about running a mine, hence the appointment of the technical director.

Something had to change the torpid progress this company was making, and I have high hopes these changes will bring about a successful future. I've waited long enough.

Good luck all LTH.

Big, big changes that should hopefully lead to a big improvement in the share price.

Why wouldn't the the interim CEO work his socks off, he has massive skin in the game.

I particularly liked this part of the RNS "The Company is also in advanced discussions with a potential new operating partner to support the optimisation of production and improvement in product quality and volumes at its heavy mineral sands projects.

Fingers crossed the potential this company has shown will now materialise in short order.

This information from AI regarding the tantalum price must strengthen Dennis's negotiating hand massively!!

2026 (Record Highs): As of February 2026, spot prices have reached roughly $152.50 per pound for concentrate, a nearly 60% increase over the 2025 average. This surge is attributed to severe supply disruptions in the DRC and Rwanda (including landslides and operational halts) coupled with explosive demand for tantalum-polymer capacitors used in AI.

As always, things look good for Kazera but that doesn't translate into an improved share price.

Frustration regarding the low share price ....who benefits?

There are 2 major investors who own around about 50% of the company. If they think that Kazera will be sold for a nice profit at some point in the future hopefully other shareholders should ultimately benefit too.

Do you think they would prefer to have more or less profit protected from tax? I hold my shares in an ISA and a sipp, so why wouldn't they as well? The lower the share price the more they can stuff in tax efficient vehicles.The longer it takes, the more stuffing they can do.

If you trust the directors and believe the narrative it might well be worth continuing to hold,but equally I don't think the share price will reflect the companies true value until it is sold (and the money is actually in the bank!) as there has been way too many false dawns.

You are either in or out, ignore the noise and let's hope that it comes good in the next 1, 2, or 3 years. I have to admit though this share has gone way past "patience testing" to just tiresome.

I suppose it's just depends on what you think might happen.

Most people have stated that they have been purchasing below the 1.5 offer price, maybe at 1.4p, which is great. But what if a takeover offer comes in next year at 8p? For paying that extra .1p to make 5.5p might seem inspired at that point!!

BUT it all depends on ifs,buts,maybes and timescales etc etc

But the worst case scenario is the warrants aren't worth buying because the share price is still oh so low and you paid .1p over the current market price. I'm hoping the company does deliver what it is saying it can 🤞

But the big question, how long is it going to keep ticking?? 2025, 2026, or maybe even 2027?

*redeem not pay

Why pay it off now if you can get another 10% bump in just 6 months time?

With all due respect, we are going to be diluted by a select few, can't imagine for one second that the loans will be settled with money.

What % shareholding is needed to become a supportive shareholder? Because I'm sure most shareholders would be happy to loan the company money on those terms if given the opportunity to do so.

Maybe the diamonds have been stolen.... again!!🤷🙄

Cheers everyone, fingers crossed we do get the 2A licence,and it arrives before 2026.

13th December brought us the good news that we had an off take agreement with Fujax, the share price responded with a rise to 1.55p since then we have had ;

1) Confirmation that the production of HMS has actually commenced.

2) Confirmation that we have made the first sale of HMS

3) Arbitration win of 11.9 million dollars with interest accruing at 20%

4) Awarded an extended diamond mining contract.

5) Notification that the chairman has purchased 30,000,000 shares at 2p indicating considerable confidence in the company going forward.

I have always said that Kazera has to have actually achieved business objectives before the market responds as there have been so many false starts in the past. But the listed items above have occured, and yet here we are nearly 6 months later with a share price not even 10% higher. I am starting to think I am really, really wasting my time here.

Is it just me that thinks the share price should be quite a bit higher or am I being unrealistic?

(Sorry for the rant, boredom and frustration has set in)

I personally think he comes across well and tries to answer the questions the best he can.

Must be tricky being put on the spot!!

Seems like all going well, if a little frustrating that nothing actually concrete.... Sit on hands and wait scenario I think!

But hang on a minute, I thought you said you did??🤣

Wasn't it only a few days ago you said you would try and sell some?

Bit more Buffety required, find an undervalued company, invest, and then patience.........

ATB, think we are all trying to achieve the same thing 😉

Many thanks Poppyseed.

Hi Poppyseed, could you also add me please @harvharvd

Why the optimism FB? More likely to fall 20% if all that good news lands 😂

After all of the hard work Dennis and the team have put in, I have to say I am very disappointed with the share price performance over the last couple of days. I had expected the sliding share price to at least recover to the price it was when the offtake news had landed. Proof of concept has now been confirmed and kzg are on an increasing revenue trajectory, surely a time for the share price to tick up?

A massive share trade yesterday followed by a few grands worth today and the bid price not changing a jot seems very strange to say the least. Does the market know something we don't? I hope not. Maybe everyone is just waiting for the new tax year?