Member Info for kentan

OPTIMIZE PORTUGAL GOLDEN OPPORTUNITIES FUND - FUNDO DE INVESTIMENTO MOBILIÁRIO ABERTO and the OPTIMIZE DISRUPTION FUND - FUNDO DE INVESTIMENTO ALTERNATIVO MOBILIÁRIO ABERTO ... are the investors in SAV ... they have amassed a further 27,266,330 shares to take their stake from 5.215% to 6.275%.

So, I take it they have been accumulated over a period of time, with no RNS news, at the moment, of any reduction in the stake of current Portuguese holders or large significant shareholders in the Company whereby this large amount have been transferred.

Is it a combined, concerted, stake-build, by the Portuguese, to have the majority shareholding in future voting rights, to eventually take full control?

Hopefully, this shows further confidence by the Portuguese to progress the "BLP" in their country, against the continued repression by local activists.

This may also be seen that a green light has been given to the granting of the 2nd easements, which had appeared to stumble and had been delayed.

As usual, no impact on the SP.

Bubble, thank you for your continued interest in MFAI, I take it , like me, you have considerable funds invested in MFAI from a year ago when it was flying above 1.5p and find it hard to understand why the SP has fallen by 66.6% to today's 0.5p when for the intervening 12 months there has been encouraging news of further investments, either directly, or through SVV (1, 2 & 3). Prospects for all AI companies continue to flourish.

SVV's investment in Infinite Reality (Napster) is the jewel in the crown for Sure Valley Ventures and as I revealed below, they have strengthened their position by acquiring Landvault that benefits both seed investors (SVV & MFAI).

As I have found and been informed, it is very difficult to obtain the true NAV of all the companies in their webs of portfolios, a lot of it is pure speculation, which doesn't give confidence to future investors when there is no concrete platform in place and as such must be a contributory factor in depressing the demand for both SVV & MFAI.

I find it hard to understand, given what has happened in the interim, why the Directors of MFAI opted to forego their salaries, for the share scheme options, with not too ambitious striking targets (at he time) that now seem virtually unobtainable at today's SP, a serious re-rate is required.

Because there are a limited number of shares in the free markets to trade, it seems the MM's are determined to strangle MFAI's SP with low bids and little sales, resulting in massive spreads, so as to not miss the boat once encouraging news is released that would propel the SP back above 1p or more.

I seem to remember last year, that head honcho, Nicholas Lee, divested himself of some investments in SVV to tidy up his own personal investments and consolidate his exposure. He seems to be committed to MFAI and their JV's with SVV.

*typo .... Mindflair

I have just found out those figures I have posted are out of date, for early 2024, Landvault was sold for a massive $450m to in house SVV invested Infinite Reality in June 2024. But it shows what can be realised when investments are in the right sector. Let's hope others in the pot go the same way.

I was misled by Chat GPT, but it gives an insight as to how the funds are distributed with some very little exposure to Mindflair as a co-investor with SVV.

More recent seed investments, like Captur, look to have a very bright future, as long as we are prepared to wait.

Mindflair Portfolio — Look-Through Table

Company Fund Est. SVV Ticket Mindflair Look-Through Investment Est. Current Value % of NAV

Landvault SVV1 £400k ~£75k £800k – £1.2m 25–35%

Getvisibility (realised) Direct £150k ~£150k realised (~£900k+) historical

Virtex SVV1 £250k ~£45k £150k – £400k 5–10%

Wia Tech SVV1 £200k ~£40k £100k – £300k 3–8%

Low6 Direct £200k ~£200k £50k – £200k 2–6%

Precog Direct £150k ~£150k £50k – £150k 2–5%

Emergent Direct £200k ~£200k £100k – £250k 3–7%

Ittybit SVV2 £150k ~£10k £20k – £80k <2%

Literal Labs SVV2 £300k ~£20k £30k – £120k <3%

Momntum SVV3 £200k ~£30k £40k – £150k 2–4%

Other SVV1 startups (x5–8) £150–300k £30k–£60k each £50k – £200k each 10–20% combined

Other SVV2 startups (x5–7) £100–250k £7k–£20k each £10k – £80k each 5–10% combined

Other SVV3 startups (x3–5)

How to read this:

The standout asset is Landvault

It dominates the portfolio, drives a huge portion of NAV, this is typical in Venture Capital: one breakout winner

NAV Composition (Simplified):

Segment Contribution

Top 1 (Landvault) ~30%

Top 3–5 companies ~50–65%

Direct investments total ~15–25%

Long tail (15+ companies) ~20–30%

I was surprised to see some of the invested companies in their portfolio represent very little value, with minimal prospects of a substantial return, albeit they have only committed very low investments to these.

Those in the SSV (1, 2 & 3) funds are not individually listed, so hard to see MFAI's exposure and amount invested, but there are reports of substantial gains in the offing once they are realised .... currently, we can only guess at NAV's for each.

I hope this gives a broader insight into the company to understand the chances of any windfalls that may come our way.

....

So, in summary, it appears to be an exciting forward looking enterprise that is being heavily promoted in the US markets for a technological product there is demand for and future expansion planned. The recent seed investments, based on the terms of the contracts, could return a very good financial reward to those invested venture capitalists like Sure Ventures and their partners, MFAI.

Once they roll-out new innovative modules of their current product to the commercial sector their market value could take off .... but this will not be seen immediately, that is my concern, it will take time. But, to be in at what is effectively ground level, the wait could be very lucrative for all early investors and greatly reward shareholders in SV and MFAI.

I have posted this as a "hold" .... the current spread deters further investment in MFAI for me, but I live in hope.

Thought I would do some AI assisted digging on the latest investment that MFAI have a interest in:

While Captur does not publicly disclose a single "valuation" figure, we can estimate its market value based on its recent $6 million (£4.7 million) seed funding round completed in March 2026. [1, 2]

Estimated Valuation Range:

Based on typical venture capital standards for a seed-stage AI company as of early 2026:

* Implied Valuation: Seed rounds often involve selling 15% to 25% of the company. A $6 million investment at these rates would imply a post-money valuation between $24 million and $40 million.

* Industry Benchmarks: AI infrastructure and "Edge AI" startups in 2026 are commanding high revenue multiples, often ranging from 20x to 30x annual recurring revenue (ARR) due to their high growth potential and technical defensibility.

* Total Capital Raised: To date, Captur has raised approximately $10.44 million in total funding across its seed phases. [3, 4, 5]

Factors Driving Its Ongoing Value:

Investors and industry analysts value Captur based on its unique positioning in the "Edge AI" space:

* Scale of Operations: The company processes tens of millions of images monthly, which is a significant volume for a seed-stage startup and indicates strong product-market fit.

* Technical Edge: Their on-device engine performs validation in 30 milliseconds without needing a cloud connection, significantly reducing operational costs and latency for enterprise clients.

* Market Expansion: The latest funding is specifically earmarked for US market expansion and moving beyond mobility/logistics into retail and e-commerce.

* Proven Client Base: High-value partnerships with major firms like Dott, Tier, and HumanForest provide reliable recurring revenue streams. [1, 6, 7, 8, 9]

To explore the specific ROI Captur delivers to its enterprise clients or see more details on its US expansion plans:

[1] [https://finance.yahoo.com](https://finance.yahoo.com/news/captur-raises-6m-seed-round-080000795.html#:~:text=NEW%20YORK%2C%20March%2010%2C%202026%20/PRNewswire/%20%2D%2D,monthly%20across%20delivery%2C%20mobility%20and%20e%2Dcommerce%20platforms.)

[2] [https://www.lse.co.uk](https://www.lse.co.uk/rns/captur-raises-us6-million-1596rfwx7311cr8.html)

[3] [https://qubit.capital](https://qubit.capital/blog/ai-startup-valuation-multiples)

[4] [https://flippa.com](https://flippa.com/blog/how-to-value-an-ai-company-7-key-metrics/)

[5] [https://nordic9.com](https://nordic9.com/news/captur-ai-raised-a-6-million-seed-round-led-by-rally-ventures-joined-by-sure-valley-ventures/)

[6] [https://www.investegate.co.uk](https://www.investegate.co.uk/announcement/rns/mindflair--mfai/-captur-raises-us-6-million/9468248)

[7] [https://uk.investing.com](https://uk.investing.com/news/company-news/mindflair-portfolio-company-captur-secures-6m-seed-funding-93CH-4551964)

[8] [https://tracxn.com](https://tracxn.com/d/companies/captur/__9uRAA6zBpSGYFh-iY9Fq_zHkTFg0lqKSF8TDHxtZzn

This share is being played by one or more MM's who are pricing it so no stock is moved that is not in their favour. Probably why some have experienced being blocked to buy more. A near 43% spread virtually precludes anyone from buying and only distressed sellers will sell at the very low bid.

Today's RNS and the one previous should encourage a rise in the SP, but as we can see it has depressed the price, so someone is playing games to frighten sellers into parting with their stock.

Captur's innovative AI powered instant image verification system would be perfect to improve all CCTV applications, its further development could mean near perfect resolution and make those current grainy, out of focus images a thing of the past.

Security systems would be falling over themselves to incorporate Captur in their products.

Looks to be one of the most exciting uses of AI and with the Google man in the team its roll-out is encouraging.

I would like to know what MFAI's exposure and investment in Captur is (via SV) to ascertain a value to us shareholders.

So far, at this time, we are unaffected with what is going on in Iran and the Middle East, but it could have the benefit, in the future, with increased demand for non fossil fuel vehicles with lithium based batteries having greater, cleaner for the environment, increased requirement.

I do not knowat what % the 2nd land easements become unconditional for compulsory purchase, would it be 51% acceptance for the offers made to those resistant to sell landowners? ... Perhaps some on here with better knowledge can explain.

With their investment and commitment, the Portuguese Govt. must surely be applying pressure for the "BLP" project to proceed as quickly and seamlessly as possible.

It seems the latest "Project Update" RNS issued in good faith to appease those wanting news of "BLP", rather than encourage market support, it has had the opposite effect, as evidenced by today's sells far outweighing buys.

While there is confidence that the Lithim price has risen and likely to keep rising, as pointed out by others on here, it glosses over pertinent information and news of the required urgency for the easement situation to be clarified and some definite deadlines confirmed. It is all very well saying some 20% or more landowners have agreed to sell, but that still leaves at least 75%+ to accept. Knowing how those undecided have been courted by lawyers and naysayers to the project, to retain their opposition, with the possiility of getting a higher offer for their land, it seems this will not proceed as easily or as quickly as anrticipated.

The infrastructure continues to proceed with only a few hiccups and redesign of access roads and power supply overcome, so that bodes well, but until we get the easement approval, DFS and mine start-up and operating costs finalised it will continueto frustrate shareholders and impact on their confidence.

.... Sorry, I pressed the wrong button to spellcheck .... continued:

To my mind, the challenges are being propagated by ambulance chasing lawyers who can only think of their own financial benefit and using any which way they can to fight the inevitable. .... I would guess, those locals and their families, who own the land on which the project is being progressed, are only too happy for it to continue with their windfall, equivalent to winning the lottery, with the prospect of further expansion by the mining company to provide income and a bright future for their offspring in the years to come.

Just a thought ... how many of the lawyers involved are lining their own pockets by forcing the SP down to buy in at basement prices on the furore they commit by rattling the cage?

Think the disgraced former Prince Andrew would be sending memos to Epstein to get "balls deep" in SAV if he was still alive.

In the novel by "Cervantes" ... Don Quixote, a nobleman, who self appointed himself in his imagination to be a knight, was deluded to fight (joust with) windmills and other imaginary threats from rivals in Spain, in his mistaken belief to be protecting his fellow Spaniards... this has similarities to local action groups fighting to protect Barroso in neighbouring Portugal from the mounting threat by Savannah Resources and their "BLP".

It is propogated

Https://amg-nv.com/investors/press-release/amg-liva-to-install-hybrid-energy-storage-system-battery-at-aramco-site/

AMG Critical Minerals (NV) is firmly established in Saudi Arabia and collaborating with them ... so it would be no surprise to see them involved together in Portugal to provide processing plants and battery manufacture that would greatly benefit Savannah Resources and their involvement in the "BLP" project.

Could have been discussed at the recent delegation meeting with Portugal's Ministers and the Saudi's high ranking envoys.

After the obvious accumulating buying this week:

4/6 an RNS update

2/1 a TR-1

5/1 an easements announcement

20/1 a DFS

25/1 a new board member

5/4 no RNS

1000/1 we have gone bust

FRANKFURT, Jan 29 (Reuters) - ⁠Dutch miner ‌and lithium supplier AMG Critical Materials plans ⁠to reduce dependence on China by processing battery-grade lithium for electric vehicles in Brazil, Portugal and Germany, its head ‍of development told Reuters.

AMG development head Michael Connor said the firm aimed to create what he called a "lithium highway" ‍connecting those three countries to allow the company to bypass China, which he added was currently ⁠the only option for processing the material.

"Our goal is to build this processing capacity in both Brazil and Portugal in order to establish a Western provider for this expertise – something that does not exist ​today," he said.

EUROPE CAN CATCH UP WITH CHINA

Europe is trying to curb reliance on Chinese lithium as it shifts away from fossil fuels, but the region's own extraction and refining capacity is minimal. The world's largest producers are South America, Australia and China.

AMG produces spodumene ‍concentrate – a lithium-bearing mineral – at its Mibra mine in Brazil and ships the material to China for ‌conversion from about 6% lithium content to nearly 100%.

Only then is it sent to AMG's facility in the German town Bitterfeld-Wolfen, where it ‌is processed into lithium hydroxide, a key cathode material for EV batteries and stationary storage.

Connor said that Europe could catch up despite lagging globally. Lithium extraction and processing is, however, complex and ‌takes years to ramp up scale.

"Even if China has gained a significant lead, there's no reason Europe can't ​catch up," he added. "Once production takes place in Europe, it becomes much cheaper to produce lithium here than to ship it via China."

SLOWER-THAN-EXPECTED RAMP-UP AT GERMAN SITE

MG's Bitterfeld plant is expected to reach its ⁠full 20,000-metric-ton lithium hydroxide capacity by end-2026, two years later than ‍planned, which means missing an earlier goal of 100,000 tons by 2030.

Connor blamed the delay on weaker-than-expected market demand and ongoing checks by ​prospective customers.

AMG is the largest shareholder in London-based Savannah Resources, which ⁠is developing a lithium project in northern Portugal.

The Barroso spodumene deposit holds more than 39 million tons of estimated reserves, the largest in Europe.

Callit, .....not trying to talk it down, just concerned that those who are apparently seriously underwater with SCGL, post misleading and complete rubbish to try to encourage others to invest when the odds are completely against them,.... to get the SP to rise?.

I would only consider getting back in when there is actual trade happening with this company, not airy, fairy promises that seem to take them down blind alleys (EVOO/ONION/SEA-VOO) ... to date there has been no substance to the new CEO & Directors coming onto the BOD.

The only thing that is attractive is the value of being listed on the main LSE market, giving the opportunity to be a RTO target to get a full listing on the cheap and quickly. That is what attracted me 3 years ago and I was able to trade out with a handsome profit on last year's rumour based rally. Too dangerous to get back in at the moment.

Colenal & OSD ... good luck fellahs, hope you eventually come out on top.

One golden rule I always abide by: ... Never fall in love with a share, it clouds your judgement. The companies have no allegance to you as a faithful shareholder, so always make strict conditions, sell when it feels right, never follow them down blindly because you kid yourself it will all eventually turn around ... only to be shafted when they issue more stock and you are diluted into oblivion.

Colenal & OSD, thank you for your indulgence of me, I am only trying to be straightforward and honest ... whereas SCGL are not totally so.

My first assumption on this latest RNS was they were hoping the SP would rise on it to give them the opportnity to fund raise at around 1p, but that seems dead in the water now that realizations have come to bear the price down.

To make it viable and attractive now, they need to issue more shares at a discount (realisticly, say at 0.25p = to 1/4 of a penny) for 80m shares = £200k to cover interim funding and share offers to the 2 new directors ... that means further dilution of the current share price to around 0.3p.

The questions you now have to ask yourselves, .... "Is it worth me being in this share"? .... "Do I get out now to cut my losses"? .... "Will I ever see my money again"? .... "Do I trust the BOD of SCGL"? ....

I hope I am wrong, but it doesn't look good to me.

Recruitment?

Many more experienced trained mining staff needed for "BLP" in the not too distant future.

Colonel, I respect what you post, but as you and others have experienced in the past 12 months, this is not a share for LTH ... as they have demonstrated, the company, SCGL, has no regard for them ... it is only for those prepared to gamble with (like most Chinese are addicted to).

Happy for you and others to make profits, but for me the downside risk outweighs the upside, the odds are against me, there are safer bets at the moment elsewhere ... I am just giving you my opinion (not advice).

There were key words in their RNS .... like "refocus" ... that sends out warnings ... why do they need to refocus, when only 12 months ago it was the Holy Grail with JV's with the EVOO partnership that sent the SP spiralling to giddy heights .... what is different now? .... where is the substance?

I will only get back in when it is safe to do so (if ever).