Member Info for Hemmings8

A shareholder registering potential unacceptable circumstances objection and why the extension was granted at the 11th hour might cause everything to go to review . Shareholders don’t know that the IBC objected to the extension. Write to:

Allan Bulman

Chief Executive, Takeovers Panel Level 16, 530 Collins Street Melbourne VIC 3000

Ph: +61 3 9655 3500 takeovers@takeovers.gov.au

and

Sean Ferguson

Corporate Finance

Markets Group

Australian Securities and Investments Commission

Level 1, 11 Mounts Bay Road, Perth, 6000

sean.ferguson@asic.gov.au

Let's go down fighting

Hi guys,

I heard back from the company, which I e-mailed before the results this week. They covered what was in the release:

1) Vele should be at full production of 160kt of saleable coal per month by April/May
2) Uitkomst continues to supply coal into the marketing agreement with Overlooked, but they are assessing alternative coal marketing opportunities
3) They commenced with early works at Makhado during February and these activities have ramped-up in March. The detailed construction execution plans are progressing and anticipate that these will be completed by the end of Q1 CY2023. This information is required by potential funders and we anticipate concluding the funding arrangements by the end of Q2 CY2023 and are hopeful that construction related activities will commence soon thereafter
4) No justification in the current share price

"I was equally surprised by the sale which appears to have been a desperate/urgent fund raise. We had inquiries from both AIM and our local sponsors yesterday on the same and confirmed that we do not have information any new we have not provided guidance on to the markets. "

Thermal coal prices have softened but goes on to add "The market's perception is still that we are a Thermal Coal producer which will change once we get going with Makhado as the bulk of our production will be hard coking coal currently trading around $380/t."

Looks like a buying opportunity to me. DYOR. Good luck all.

volatile stock, manipulated lower to take out stops. buying opportunity, back above 20 with positive news by end of March. Stay strong!

Any reason why AIM holders are not included in the issue? A bit of a snub to the long term holders registered in the UK

Didn’t think this was too bad looking forward, coal prices on the up, Uitkomst back to steady states and sales expected to normalise. Didn’t sell all we produced but prices are high so sell that next quarter. Operating under covid restrictions. Didn’t expect anything on financing.

Thanks. Anyone intending to call?

Clip of 187k just went through at 164 (~8p)

I sent a message to company secretary. He asked for my number to call me. He hasn’t. Poor.

Holiday in SA today.

Jantand, you heard anything my friend?

I’m going to buy more. So screwed, have to average in further

Could have done it at 30p...

Change in language. “Equity portion”

What does that mean for us?

B00oom, I thought we wanted IDC/PIC to partner us but had someone as a backstop.

Well we were all expecting that.

Impossible to get anything out the company

Typo Q1 to Q2.

Just noticed we’re due to have interim results tomorrow.

This is no doubt where financing moves from Q2 to Q3. Sooo predictable. Nobody returned any of my emails

Anyone heard from Randazzo? No reply here

Almost 200k traded in first hour on JSE

3 weeks until end of quarter.

Both on JSE and in London more volume going through on the offer side, but volumes minimal. Can’t really say manipulation when nothing going on. Will only pick up when financing is done

Numbers we are talking are peanuts. Madness.

M&G on last reported holder update was 20,125,000 so a little lower

Are company updating records pre-announcement?

Noticed a few anti MMSEZ articles around and EIA approval being a fair accompli with Chinese involvement.

Maybe our time is coming

Don’t care who’s running the show, all the matters is financing!