Member Info for jeligknight

So if we step back, as someone said the company was in-between a rock and hard place. Sadly the general market sell led to an across the board decline, people talk about debt, debt will be their to build a plant leading to revenue, on one provides debt pre revenue and the company would be crazy to take debt pre revenue. A Strategic will come for construction or once we have the pilot plant and they can test our lithium.

So we started last week, we had good support from funds, Regal stood there corner, JCAM who many here deride has exited down to around 2% up in the 60’s have been in at 20 and 30, and 47 and they ivested for 10%. Rab, Miton, Terra Capital, L1, Hardon, all supported, many of the initial individual shareholders from the IPO averaged down.

Before people start railing again, any person or fund is here to make a return, and everyone too, some are looking for 50% some 100% some multiple that is a market, I have a long term view of 2-3 years with CTL. Some funds will sell on the way back up, that is a market, there is group here sometime that wants to demonise institutions but without them nothing gets funded.

In a perfect world I would have loved 4/5 funds a few million each but so many have a nothing below £50m cut off and we now fell below that, so the institutional audience is limited today. We had £6m orders from institutions and HNW’s, mostly current shareholders. We then had to reach out to the wealth managers and private client brokers. The issue was this was 121 mining conference in London. There are about 8 mining company out looking for cash and cash is king and the only was to get to the min was to agree on the discount and warrants. Initially the offers were around 20 pence. Several funds stepped up and gave ooders at 22 pence with a half warrant. The final book was over £10m . FDC raised over 90%. We gave funds and existing sharedholders. 100% of their orders and cut all PCB’s and everyone else back equally, about 45% across the board

Brokers don’t like Open offers, they are a pain and time consuming. The company insisted not because it needs another 500k, we had that in the orders but because it does want to make sure that everyone here get the same opportunity as those in the placing.

Offers are trickly, you have leak issues, you can only go out to under 150 not regulated firms which is why you cant just reach out to all your sharehodlers. To reach investors you have to go to PCB’s. if we reach to everyone then you’re the territory of issuing a full prospectus and that is 4-6 months’ work and hundreds of thousands of pounds.

Now the company can go to share holders its knows so if you a significant shareholder I would make sure Gordon or nick has you details.

So lets just review where we are.

We started with 500k tonnes of resources, we are now over 2.4M.

We have proved we have battery grade lithium

We will have a pilot plant constructed any day.

We have

My understanding is that ASX is dealing with a back log of listings and the process is very slow. The company had hoped it would be finalised by September then October then early November. The issue facing the company is that we are currently seasonal for exploration work. When producing you can weatherise and produce all year as many mines do. But CTL is above the snow line. If the company wanted to move forward with committing to this season’s exploration cycle it had to raise fund before end of November to leave time to do the work in the Chilean Summer. Its not an option to really just go slow and wait for markets, you essentially lose a whole season. I fully believe we will progress to the ASX, but it looks like we won’t get approval till Dec or Jan and then we miss the season. We started looking at the market but there is quite a process to capital raising, review of working capital, certain due diligence update, placing letters, circulars, updating investor decks, verifying the deck. . This takes a week or two and we had all been working the basis of the ASX. The decision was not taken lightly. Not one is happy with the price or dilution here. Speculation on chat rooms on a raise while correct also lead to market sell off. Aldo and Jason as main board directors and founders will also significant dilution in this round just as we all have. However it was really felt this was the best long term option.

Now this is my personal belief and entirely mine and not the company’s but I think we end up getting bid for. Once you get the pilot plant going and sending samples and another season of dilling we become and interesting target. There is real uplift in M&A activity. The public market is down but industry is showing real signs of concern about securing lithium supply, and we are in Chile as a free trade country to the US. This has real value. Maha and Aldo had a fantastic trip in China, saw a number of DLE plants, chemical companies, battery companies, car companies. There is a real industry excitement in the company and assets.

I personally take solace from remembering 4/5years ago telsa was almost out of cash and going to be sold to google. I wish I had brought shares in tesla then.

On the Pilot Plant the company is late. We are late and no bones about it and has lead to frustrato there were some shipping delays, engineering delays, pump issues, it happens and sadly all out of the control of management. However it is all progessing in the background, albeit slower than anyone would of liked, I hope we will get some new updates very soon.

The pilot plan is key. Soon after its completed construction, they start commissioning, this about 3 weeks, then we start to produce. We will produce what is called an eluate. Its lithium in solution at 1%. The pilot plant is there to test the upstream extraction and the DLE process. Allows the company to trial different resins, tweak various pr

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written on phone please forgive typos, and missed words

dear all, firstly as well the ctl broker, i’m also a shareholder, not only me, but my father, mother, cousin, ex-girlfriend, cousin, my cousin’s wife, my cousin’t best client, my brother children’s college fund, my 5-6 closet friends and every major close client, i have my stock at 30, and 47 and my family last purchased at 72 and no family have sold. as such i’m acutely aware of the concerns expressed here.

i remain a huge supporter of the ev transition over the next 5-10 years, the lithium sector and ctl within that sector.

i drop in here occasionally to try and give some colour and where possible some clarity. while there is some very inciteful and sensible input here you do also get some very tenuous speculation and misguided comments. i would like to reiterate that nothing here should be taken as investment advice, and as company fdc publish research notes on our clients but they are not independent research as disclosed. they are based on robust financial modelling and sector analysis based on financial numbers from the scoping studies etc.

if we take a step back we raised money a year ago for exploration, the dle pilot and to pursue the asx listing, this is all clearly disclosed and we said the funds would last a year.

when gordon references debt etc, i believe he is talking about construction finance. the company has been approached by a number of parties to explore debt financing of the plant. usually these conversation start a good 12-24 month before you would close. the company has a potentially highly cash generative asset once they get to production. the margins are huge, we are expecting to be around $4000 a ton cost, this will put us firmly in the lowest quartile of cost producers. only really the large evaporation pond producers are lower. if you think lithium could drop roughly 75% and we would still have a 50% margin.

as a side bar when you deal with an exchange it is a laborious process. a lot of people knock aim and knock nomads, but the platform does allow for the quick decision to raise capital once you listed. the standard list the tsx is the same as the asx and rightly so there are there to protect investors and they ask a lot of questions, they query everything as they should. . the company has been working diligently on the process which is far more onerous that an initial aim listing, its more akin to main board listing. the exchange asks a question the company replies within 2-3 day, then you hear nothing for 2 – 3 weeks. you basically back to the bottom of the pile and when you reach the top you get another, it’s not like you have a case officer who is there desperately trying to move you along. if they are busy you just wait and personally i think they tend to favour clean asx listing over a dual listing for their time. so it’s just a very involved process. but……

Many thanks again AEGOS

Empire Metals* (EEE LN) 5.15p, Mkt Cap £29m – Geologists see Pitfield as potentially developing into one of the world’s great hydrothermal metal ‘districts’

• Empire Metals is exploring for titanium and copper within the newly discovered Pitfield giant hydrothermal mineral system

• Pitfield is in the process of being defined as potentially one of the world’s district-scale sediment-hosted metal deposits.

• Many of the world’s major mining camps are built on giant sediment-hosted hydrothermal metal systems with Pitfield showing similar characteristics.

o Examples are the Central African Copper Belt, Athabasca Basin Uranium in Saskatchewan Canada, Red Dog Zinc-Lead District in Alaska, and the Carlin Gold Belt in Nevada

• Empire Metals is still looking for copper though drilling is currently showing significant scale and grades of titanium mineralization.

• The scale of the potential titanium deposit looks unlike anything we have seen before with a strike extent of 30 km and a 5km deep keel identified by coincident magnetics and gravimetric geophysical surveys.

outstanding contribution to Caledonia

over the last ten years

[which]... increased production, reduced costs and ... [delivered] ...

exploration success which we believe will, in due course, extend Blanket's life of mine ...

against the backdrop of a challenging operating environment and the COVID-19 pandemic

which introduced a new set of unanticipated operational challenges

• Diamond drilling is ongoing, and we are waiting on assays before further analysis. A second phase of RC drilling is also to soon commence across the extent of the core of the geophysical anomaly where high-grade titanium values have been identified by surface sampling and in the recent drilling.

• Neil O'Brien, Non-Executive Chairman, Ph.D. Economic geologist with over 35 years of international experience and former SVP Exploration & New Business Development at Lundin Mining is involved.

• Shaun Bunn, MD, Empire Metals is a metallurgist with >35 years' experience in exploration, mining, processing, and project development.

• See recent presentation for further details: https://www.empiremetals.co.uk/investors/reports- presentations/

Conclusion: We are not trying to guess the value of the titanium at Pitfield as this is far beyond anyone’s comprehension just now although the scale is impressive. Empire Metals is focussed on finding the higher grade, most valuable parts of this giant titanium deposit.

We are additionally interested in the other metals, such as copper, that the hot mineralised fluids which formed this massive hydrothermal metal system might have carried and deposited across the district.

*SP Angel acts as nomad and broker to Empire Metals

Thanks 4k

Many thanks

Don’t know why I didn’t google it, going a bit senile already.

Not good for 50 😩

Apologies so can the metal be create as I thought eee tio2 was only good for pigments.

Thanks in advance

Good evening AGEOS,

Many thanks again for your time and information.

Would you mind explaining what “synthetic rutile grade” [95% TiO2] is and what it is good for.

As in my junior basic understanding I think I understood the difference between ilmenite and rutile.

Thanks in advance.

BW Jeli

Https://www.youtube.com/watch?v=DQ1eEJOV71s

Many thanks AGEOS,

Another high quality post.

Is it ok to copy it to the telegram group etc.

Best wishes

Jeli

Nice post 4K, hope you don’t mind I shared the info on Advfn.

Thanks a lot

J

I put mine up for 32

I believe it is a roll over, hopefully a good sign

This old RNS is a good read 4kandles.

https://www.londonstockexchange.com/news-article/EEE/giant-copper-province-potential-at-pitfield/15685842

GLA

Jeli

Hi AGEOS,

Many thanks for all your excellent posts with high quality information.

Please forgive me for being cheeky but can I ask do you own shares in EEE and how many?

Many thanks and apologies:

J

Andrada Mining (“ATM”) has released assay results for the first batch of Reverse Circulation (”RC”) exploration drilling results undertaken at the ATNN01 – ATNN14 pegmatites, within licence ML133, also known as the Lithium Ridge Project. Situated ~35km SE of ATM’s flagship Uis Mine, an exploration drilling programme comprised of 24 RC drill holes was implemented to investigate the continuation of selected outcropping lithium-enriched pegmatites at depth. The programme yields ~800 chemical analysis samples with the results of the first 14 holes, comprising ~400 samples reported in the recent announcement. The programme was designed to investigate the subsurface morphology and metal endowment of pegmatites containing elevated lithium values at the surface. Results confirm lithium mineralisation along the 4km strike distance covered and indicate intersections at higher lithium grades compared to those at Uis (~0.72%) with a weighted average grade of ~1.06% Li2O. Weighted average tantalum grades of ~79ppm were in line with Uis’ ~86ppm. The company’s offsite metallurgical programme has shown the ability to produce a saleable petalite concentrate from Lithium Ridge. Together with the ongoing commissioning of the lithium pilot plant at Uis, balance sheet de-risking post recent convertible note and bank loan financings, and a strategic process still to be concluded to select a funding partner to participate in the acceleration of the Company's lithium development, we believe the 78% discount to our GBp 33/sh target price should continue to close. More evidence of potential for Lithium Ridge to supplement Uis petalite output Out of the 14 holes covered in the announcement, highlights include ATNN 08, which intersected 14m at 1.80% Li2O, 0.08% Sn and 70 ppm Ta from a depth of 8m, including an 11m subinterval at 2.13% Li2O, and hole ATNN 02 which intersected 27 m at 1.24% Li2O, 0.14% Sn and 116 ppm Ta from a depth of 31m to 58m. License ML133 is situated along the D1903 road linking to the B2 highway and sits within ‘truckable’ distance from existing processing facilities at Uis, where a pilot lithium circuit has been constructed. The company expects the remaining 10 drilling holes to show similar results in line with the channel samples over the remaining 2km mineralised strike distance. With successful results achieved through the programme, it is probable that ATM will undertake further drilling initiatives aiming to establish a JORC-compliant resource within this area of the licence in future. Lithium pilot plant commissioning being “finalised” As detailed in our June 12th upgrade note, ATM produced the first saleable bulk lithium concentrate from the off-site pilot test, processing material from Lithium Ridge using dense medium separation ("DMS"). This petalite concentrate is being tested for conversion to lithium carbonate and lithium hydroxide. Additional beneficiation steps available to ATM include froth flotation and sensor-

TDT

Thanks and all my shares are held with Freetrade, looking to transfer out from them, I have not been given info like you have.

BW

J

Many thanks for all your posts TDT

Could you please point me to that AGM extra share authority.

Thanks in advance,

Jeli