Member Info for Ibizamatrix1998

Hi Magnum, I ran the number with GROK and that cam eup with a bull case of £0.30- £0.36 once sanctions are lifted which could take some time. That is similar to your bull case scenario. EUA has funding for longer now and it is hard to see that the negotiators will roll back from here. Don't let the negheads get you down.

GLA

Hi JBG, there have been some negative posters since I arrived in 2016 and it is hard to read the board sometimes as all the comments are green boxes. I fel that CS was more upbeat in the webinar but many questions I submitted were not answered or addressed. The financing deal is better, the resources and reserves are still there, the 2nd listing should be up and running within the next quarter, hopefully peace too. Has the EV trajectory increased in the last 3 years? If so, there should be mroe demand for the assets and bigger players. I remember when many played the 7am red dot game and the sale SP with Ian and it seemed a more innocent time back then.

GLA genuine holders :-)

Hi, CS was a less evasive this time around and he did seem more upbeat. Last year was a nigthmare for EUA but he seems a brighter future especially with US investors and a thawing of geopolitical tension. The AIX listing should be done by end of June 2025 and there is funding for another 18 months. Overall a B+ but we need the war to be over and sanctions lifted. Is 18 months enough time?

GLA

Hi RR, here are my submitted questions FWIW.

1. Can you provide a firm update on the status of the dual listing? What stage is the process at, which exchange is being targeted, and how does the company see this improving shareholder value or market access in the current climate?

2. What is the current status and realistic timeline for announcing the DFS at Monchetundra and West Nittis?

3. How are international sanctions currently impacting operations, strategic partnerships, and the ability to monetise assets in Russia?

4. Can the company elaborate on the current status of discussions or negotiations regarding a potential asset sale or strategic partner, particularly around Monchetundra or Nyud?

5. With over 2.8 billion shares in issue and long periods of silence, how does the board plan to rebuild investor confidence and deliver transparency going forward?

6. Can you provide any updated clarity on how many credible parties are currently in the data room or still engaged in discussions regarding a potential asset sale?

7. With the recent £3.15 million funding from UK and US institutional investors aimed at replacing the Sanderson Loan and facilitating the dual listing in Kazakhstan, how does the company plan to leverage these funds to advance its strategic objectives, particularly in light of current geopolitical challenges?

GLA

Hi James, I registered for the webinar and submitted questions in the Q&A facility. Most of what we need to know is shrouded in NDA's, but that now feels like an overused excuse (as are sanctions). Why is the DFS not public - was one of my questions as well as asking for any positive news for long-suffering SH. If there is nothing new to say, why have the webinar?

GLA all.

Hi Miz, Agreed. I have also attended virtually and was very disappointed with the last one as it was just CS in a broom cupboard and none of the Board were there either. What I remember was the sudden increase in value in the "sand" due to "care and maintenence" duties :-) Also, there were sanctions even on certain scientific labs too. He was told to keep his head down and they have done just that.

GLAGH

Hi RW, the RNS states 184m oz platinum equivalent and some are resources and some are reserves and we don't have the MT upgrades yet either. I doubt £5.52 / share but we might get 10% of that at £0.55? Either way, there is a ot of upside from here.

GLA

Hi Hope, hindsight is 20:20 and you are right to question why there was nto a sale in the run up to February 2022. The SP had started to drift lower from the highs as investors became impatient. I too was waiting for the sale, RNS calling the buyer, dividend policy, SP Angel talking about massive dividend, data room open to various interested parties etc. I thought a sale was nailed on too. This share can move quickly so I remain positive despite funding issues and accounts due in June 2025? Trump wanted peace by Easter maybe so I'm in until the end. Been here since 2016 and if we get back to mid-30's that's still a huge bonus and early retirement. Hold the faith.

GLA

Hi Robinson & Ian, I think I had £0.79 before the SMO which I reduced to £0.49 and this is unchanged. Great to see some positive contributions to the BB and long may it continue, along with the SP rising. With the Munich Security Conference this weekend and rumours of a potential plan for peace, I have to say it - sorry - "wouldn't want to be out of this over the weekend"

Welcome back Tilly and all those with strong back to keep rowing ;-0

Hi Montmuzard & GrandQ, that makes sense about SP and sanctions. Some proper comments on here over the last few days and long may it continue. A slow and steady push from the lows without a speeding ticket is the tonic (rum) we're all looking for.

GLA

Hi Montmuzard, can you remember when the II funds started to buy in? from memory it was around £0.07 but I could be way off. Anyone out there remembers when index funds need to buy in? Holding since 2016 so let's get this over the line.

Is WandGrabbit still around?

GLA

Hi Cygnet, agreed. The downside is £0.025 whereas the upside could be 10X from here after the war is over. I see that $100bn didn't make it to Ukraine allegedly. Putin is saying that the EU will sit at Trumnp's feet and wag their collective tail. It's not boring for sure.

GLA

Hi JayMan, I sincerely hope that the SP gets back to pre-war £0.25, but even when the war ends, there will still be sanctions for some time and there is still the cashflow issue until November 2025. All this negative sentiment will weigh on the SP. Will we see high teens? Sale at II level of £0.26 back in the day?

GLA

Hi Ian, thought I would pop in to say hello to you. There was a lot of official correspondence referring to the "buyer", a dividend strategy, the NOMAD inferring a massive sale was close, the ACF report and last unconsolidated PGM mine - all indicated that a sale was very close which is why I held and continue to hold.

Great to see you in the background Ian as well as any others. I hope we will get to celebrate shortly(!!)

GLA

Hi Props, I have been here since August 2016(?) and I am still holding my original shares for my sins. SH were running out of patience due to the delays before the SMO and the SP has been decimated. I hear the arguments about the value in the ground, the last unconsolidated PGM mine, the EV transition and global lithium demand and proximity to NN. That's why I am holding. I also understand the extreme business conditions we are under. Trump is in on January 20th, CS has put up his shares as collateral and there are funds for 2025.

This is either the best/worst investment decision I've made and hope to retire a chamption - shortly :-)

GLA and enjoy the weekend.

Hi JB, Agreed. When EUA decides to move upwards it can be very aggressive and getting in can be hard as it can be volatile. The II bought in at £0.26 and it is unlikely that they will be happy with a 100% return for taking such a risk in this territory.

Can we get that high again? Who knows but £0.42 will mean no-one loses and that's the least we deserve after this journey :-)

GLA and enjoy the weekend.

Hi Del, did you get most of your questions answered? Some did sound familiar from the list you provided. There were 620 in attendance online so clearly there are a lot of people looking for answers. He is looking at legal structures to aid a sale without having our pants pulled down at the same time. All this should have been addressed in the last 30 months. Is he saying that all the investment banks and the combined BOD experience and "motivated buyers" can't find a solution?

GLA

Hi Summit, I watched live and whilst he responded to the questions, there were no real answers. Many of the questions did feel similar, so I hope he go the answers after all that effort.

1. Offers had been made and either rejected or did not proceed further. Didn't confirm what the offer was.

2. Didn't answer the questions about what he thought was "true value" of the project.

3. Considering full/partial sale, JV and MBO.

4. I feel assured now he has claimed that "the value of the project is more than the current SP would indicate" :-)

5. Dodged the question abour NN.

6. Legal structures being studied to mitigate haircuts.

7. Secondary listing expected quickly.

8. Mining must have been carried out to increase the concentarte value even after the sale.

Looks like it all hangs on the SMO ending, sanctions being lifted to allow a smoother sale. The TFA won't last forever and he is reluctant to sell the sand due to sanctions and discounts.

GLA

Hi, I am hoping for a £0.49 final SP but I understand that if there is a MBO those funds may not be available. it might be £0.26 which is where the II got involved back in the day which si around the SP pre-SMO. Anyone remember Tonyshu and his £3.59 SP prediction - I miss that level of positivity. Stay strong to all the Old Guard on here :-)

GLA

Hi Seasick, If Sanderson's saw the DFS and made a commitment not to trade for 90 days, does that mean we could expect a deal within 90 days? They have already lent EUA $20m for WK, so would having access to the data room and the DFS be inside information? I am sure they would have needed more assurances than CS shares - which could be rendered worthless - before parting with a potnetial $2.5m? Time will tell.

GLA