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Https://www.youtube.com/watch?v=AkcapQ5OSi8

Interesting listen.

On April 24th, 2025 Alexkor awarded DBM an extension to its diamond mining rights to cover beach and shore diamonds as well as land diamonds. It came with a 12 month probation period which ends tomorrow. If Kazera have satisfied Alexkor that it can successfully mine their diamonds at Alexander Bay then its probable they'd want the diamonds on 2A mined as well. With Alexkor's connections to the DMRE its possible the mining application may be nudged a little. And you cant mine beach diamonds without mining HMS. Who knows but we can but hope.

Has anyone heard any news about the potential Arcadia DA with Xinhai Mining for their Swanson tantalum mine? The exclusivity period was 45 days from 2nd February I believe. Any positive movement for Aracdia would be beneficial for us too hopefully.

I've just been listening to Paul Hill's latest 'The Exchange' episode with John Chinery, aka The Oak Bloke, (well worth following on substack), and towards the end he mentioned Kazera. Now i know we've been waiting and age for the 2A mining licence but i loved Oak Blokes comment that when its granted "this share will POP". Here's hoping.

Just a thought on the possible timing of the 2A mining right award from the DMRE. Historically, the Minister of Mineral and Petroleum Resources (within the DMRE) has been the government’s shareholder representative for Alexkor. This means the DMRE effectively represents the state’s ownership interests in Alexkor .

In an RNS dated 24 April 2025 entitled 'DBM Awarded Extended Diamond Mining Contract' it states that Alexkor granted DBM extra rights to mine beach and shore diamonds but stipulates a 12 month probation period for DBM to meet certain operational criteria including capacity and production rates. A possible impetus for the recent upgrades to both HMS and diamond quantities.

It seems possible to me that the mining rights to 2A would be awarded by the DMRE/Alexkor after the probation period at the end of April 2026. Anyone have any thoughts?

Charles Archer also covered this situation when it first started to occur.

https://thatstocksguy.substack.com/p/if-you-turn-off-the-buy-button

With all the SP volatility over the past few days i took another look at Charles Archers ALRT article from November 17th.

'If you’re stressing about being down 50% in a growth stock (or getting very happy about being up 100%) you’re doing it wrong. It should form part of a diversified portfolio. There’s going to be huge up and huge down days. Don’t sweat it. This is an investment for the next five years.'

https://thatstocksguy.substack.com/p/defence-holdings-48c

Have Plexus announced a date when they will release final results?

My misunderstanding, thanks for the correction.

Https://www.youtube.com/watch?v=kD5rcQead7w

The above link is Dennis giving an investor update in which he mentions the application for the Perdevlei mining right being granted subject to appeal and then subsequently Alexkor appealing against it. Timing at 21:45. The possible reason for the appeal was purely my conjecture. As to any further appeals or objections I've only seen responses to environmental concerns that now seem to be resolved.

Very positive interview with Dennis this afternoon.

After a year of 20% interest the Aftan mine debt must be approaching £10 million and the total market cap of Kazera is £13 million approximately. Does that mean effectively Deep Blue Minerals and Whale Head Minerals are valued at £3 million? Your only paying 0.3p for the Diamond and HMS side of the business? With whats just around the corner, hopefully, that's insane value.

Please correct me if i'm wrong .

Derek, short for Dennis. Obvs.

Today's trading update was very positive and great testament to the work of Derek and his team on the ground. But it appears that only hard earnings numbers for the HMS and diamonds or news that the Perdevlei mining license has been formally granted will move the share price upwards any meaningful amount. Mid December should see the release of the Final Results so 9/10 weeks to go if nothing else drops.

Great summary FB, thank you.

I agree that KZG's potential is currently overlooked in the market. It will need Dennis to metaphorically smack investors round the face with wads of cash to grab their attention. I believe, (hope), we wont have long to wait for some slapping. Dennis said himself in a previous StockBox interview that the Walviskop operations should achieve a value of $40-$50 million, (~£35 million). On December 11th we will get the Final Year results outlining actual HMS and diamond revenues and if they're indicative of a £35 million valuation then that implies a share price of 3.5p, give or take. Nice uplift.

Then the 2A Perdevlei mining right, if granted, would give access to 165 hectares of opportunity. That would result in a possible 20x increase in revenues and a potential market cap in the region of a staggering £700 million. Work out what your holding would be worth with those numbers and tell me Dennis doesn't deserve a little more time.

But the 2A application is actually for a total of 3000 hectares, (600 x bigger than Walviskop), and who knows what they may discover there. Here's hoping for a very good Christamas.

A few things from the last 2 RNS's. Dennis says that the diamond recovery plant can process 20t/hour or 160t/day. That's one 8 hour shift each day. The average yield has worked out at 0.45ct/tonne.

Dennis also mentions that the current block will produce ~200ct/month. At 0.45ct/tonne that will need 445 tonnes of diamond gravel to be processed to get the 200ct. The machine can process 20t/hour so it can do the 445 tonnes in one day, ( working three 8 hour shifts). The diamond recovery plant can process approximately 30 times what it's currently doing. Why invest in a machine to only have it work 1 day a month unless your expecting to be doing something 30 times bigger?

The outcome of the Aftan mine situation and the actual amount of diamonds produced is important but its the granting of the Perdevlei mining rights that will change KZG from being a 'nice to have' share in you portfolio to a real revenue generator. So i imagine Dennis is having to play the poker game of his life to secure what must be of considerable interest to a number of other mining companies in the HMS arena. Revealing sensitive cost and pricing details to competitors in an RNS may not be to the companies longer term benefit however much we're all aching to know. We either trust Dennis to do the job or we don't, hold or sell. Its our individual decision. Personally i'm all in, (with fingers and toes crossed).

DEFENCE HOLDINGS: Is the UK's latest and best looking Boy Band line up we've seen for a while. Now signed to the Google record label they've recently announced their first album for December release. Pre order demand is looking strong with fans now paying several times the original asking price.

Andy, touted as the bands 'Gary Barlow' is quoted as saying "We're writing songs at a breakneck pace and we'll be announcing our second album very soon. With collaborations with Whitesnake and M.O.D. these boys certainly look to be going places.

It can be frustrating waiting for news from Dennis but he's never been one for hyping the company, only giving out hard facts when they're known. His track record is one of steadfastly sticking to the plan and successfully overcoming challenges as they arise. Delays outside the control of the company can't be blamed on the board.

The Final Results & Annual Report, likely due mid December, will give answers to the actual revenues produced from HMS and Diamonds.

The Aftan mine situation is a win win, either a £10m payout or a ~£2m/annum interest boost or full ownership of a Tantalum/Lithium mine to sell or operate.

Perdevlei: I believe the Perdevlei mining permit was originally granted on first application subject to appeal in 2021 and it was Alexkor that appealed against it. Understandable as Kazera had no evidence that they could sort the diamonds from the HMS at this time. Fast forward to today and Kazera has now demonstrated to Alexkor that they have the technology, equipment and experience to successfully separate the diamonds from the HMS.

In a RNS from 20/11/2024 it states that Kazera have now satisfied all the requirements of the state owned DMRE, (Department of Mineral Resources & Energy), who will issue the mining right. Its my understanding that it just remains for Alexkor to withdraw their earlier appeal.

And why wouldn't they? Kazera will be recovering diamonds for Alexkor that were previously inaccessible giving Alexkor £Millions in extra revenue for no effort whatsoever on their part. Another win/win.

It may be slower than we'd all like, including the BOD, but Dennis has always kept it moving in the right direction.

KZG is one of my largest risk/reward stock holdings with the risk decreasing and the reward rising.

Today's RNS raises more questions than it answers:

1. After 'optimization' of kiln 1 is the increase from 40 tpd to 45-50 tpd now the new maximum capacity for each kiln?

2. What improvements remain to get a further ~100% increase in output to achieve the 600-800 tpd form all kilns?

3. Are the existing and new revenue streams generating sufficient income to avoid a further fund raise to meet the debt requirements on 31/01/2026?

4. How much low grade quicklime is there for sale? What quality and purity is the new 45-50 tpd output?