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Cash offer of 84p...excellent news

Bulletin board morons always appear in quiet times. Worth reading the CEO's statement from September,

"The first half of 2025 saw us further strengthen our balance sheet. We raised £2.2m (before costs) from institutional and private investors and we are very grateful for their continuing support. The funds raised will be used to fund the Company's licence fees, the discovery area fees, technical and commercial studies and generaland administrative expenses. Following the fundraise the Company has sufficient funds to cover its expected overheads until the end of 2026, considerably strengthening the Company's position as we seek an appropriate development partner. It is worth noting that the 10p warrants which were issued as part of the transaction are already in the money and have started to be exercised."

Navitas reiterates FID by year end yesterday

Sea Lion

The Partnership continues to advance the development of the Sea Lion project (hereinafter: "the Project").

• The final investment decision (FID) for Phase A development is expected by the end of 2025, with production expected to begin in the first quarter of 2028.

• According to the Partnership’s estimate, upon FID, the conditions for classifying contingent resources from the first two development phases as reserves (totalling 220 million barrels of oil equivalent, Partnership share) will be met.

• With these conditions met, the total reserves in all the Partnership’s assets in the P2 category are expected to increase by about 74% to 519 million barrels of oil equivalent (Partnership share).

Regulatory:

• The Partnership is working to obtain final approval from the Falkland Islands government for the detailed field development plan, expected soon and before the FID, following the already received preliminary approval and final approval of the Environmental Impact Statement (EIS).

• The Partnership is in final negotiations with the Falkland Islands government on regulatory matters, including taxation, fiscal stability, transfer pricing, and more.

Project Financing:

• The Partnership and Rockhopper Exploration Plc (hereinafter: "RKH"), which holds 35% of the project (directly and through affiliates), continue to work together to close project financing for Phase A.

• A foreign bank is leading the financing, which will be provided as two identical and parallel non-recourse loans to the project partners (similar to the project financing structure used in Shenandoah). The senior project debt is expected to total about $1 billion (100%).

• The financing process is in its final stages, and the partners expect the financing documents to be signed by the end of 2025.

• According to the Partnership’s estimate and based on the banking model, Phase A development costs will total about $1.8 billion (including interest and contingency cushions), of which about $1.4 billion Capex (100%) will be invested by the start of production.

• Following the loan agreement with RKH, the Partnership is required to provide an interest-free dollar loan equal to two-thirds of RKH’s share of the required equity for Phase A, to be repaid from 85% of RKH’s free cash flow from Phase A.

• The total equity the Partnership will provide for its share of the project is expected to be about $734 million (including the loan component to RKH).

Commercial Agreements:

• All major agreements required for project development have been signed, including:

o Agreements for upgrading the FPSO (Floating Production Storage and Offloading), its lease, maintenance, and operation.

o Agreements for the purchase of critical long-lead items.

o Agreements with a drilling contractor and service providers.

o Agreements for subsea installation services.

Hearing that they have 27500 of spodumene at the port, not long until they ship their first load and receive their first cheque. Spodumene price continues to rally higher.

We have warm buyers, good to see. Lithium breaking through $1000. Kodal will get nearer $900 p/t in early December

Fabulous price move , great news for Kodal as it approaches first sales in early December . Should get nearer $850 p/t rather than $800 p/t. 30 000t...circa $25m first day check. Not too shabby!

Coming by month end. 30 000 t which will sell for around $800-850 p/t. A massive game changer for any miner.

240 000 t p/a run rate, set to double in phase 2

Looks like security around the capital is being sorted, insurgents being hunted down and irradicated , fuel supplies getting in.

A $65m investment bringing $100m of annual revenue, first sales this month. All ticking along nicely

Always work from two or three accounts, concerted noise.....it worked early doors.....failing now. High of the day was .31, low .2275.....heading back to .31

Quite amazing how this is still going on. Orchestrated knocking of a company. A few here are clearly shorting the company and are panicking . Do your research, read the RNS, look at the informed social media. They President has just opened the mine, the insurgent attacks around the capital have been over blown and being dealt with. The mine is producing loads of spodumene. The run rate is 10. 000 tp/m selling at about $850 p/t. Huge revenues about to kick in, will transform the balance sheet. Creating massive revenues for the government and employment for many. It's a win win for everyone.

Don't let the shorters scare you out of your stock.

Shorters are really getting desperate now after that RNS...........everything is going on as normal

What an absolute bargain today has provided. Great entry point for some as others s...t the bed.

Very good find.

Ramp up takes as long as it takes by the looks of things. It's complicated with multiple parameters . 60-120 days. The key thing is to get it right, add production, reduce input costs. If they get us up to 1600t p/a the royalties start dropping away.

Mataguafa was spudded around the 20th October , check out the twitter feed.

FYI Geopark has just bid for Parex. M&A back on in Colombia.

Arrow has a $20m facility to play with if they see something juicy.

Anyone got a link to this announcement? I can't see this anywhere

When does this date from?

Penny beginning to drop with this one.

Closed at 63.5p on the TSX

12p to 9p is a gift. Particularly with the fabulous Shenandoah news. Sea Lion FID now looks a 'shoe in'.

I've topped up 200k shares today

Late reported just popped up at .18. Chunky!

The remaining 1 833 333 shares they hold in 1911 gold now trading at c$1.06 has just topped £1m in value. Add this to the cash in the kitty and all those other investments . MC is too low.