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Yes Elcobble I agree, some CEOs want to make a quick name for themselves then hop onto the board of a large company.

Bernard wants to maintain his geology interest and see what else he can find where others missed the signs.

Suay Chin chickened out of developing Bougouni before Bernard was on the scene.

Fatou has been drilled before, he read the results thought he spotted something they missed, where they had previously thought there was gold on the site it was poor and he spotted some anomolies in the areas of the site where they thought there was no viable gold and so far it is better than Bernard expected. He is no fool.

Yes George with Bernard being a geologist I think he will have a good list of areas which have sparked his interest over the years.

Our next purchase could be interesting. Not sure if he will go for small quick flipper multiple projects or large potential sites.

If we don't get the offtake and (hopefully) floor price completed before the end of the month and or the licence transfer, it is going to be a crazy 12-14 weeks. With RNS after RNS.

Once the cash rolls in both Hainan and Kodal plc are conservative, I reckon they will ensure a good cash buffer in KMUK for the mine and a good cash buffer with Bernard and his team in Kodal PLC.

Nielle will be taken to Maiden quickly and probably sold. Then Kodal plc will have both a large lump of cash and regular income.

KMUK will set aside cash for the flotation plant, however I think we will move onto the 2023 mining code and they may take their time with the flotation plant dependent on lithium market conditions. Slow build tightly managing costs in my opinion.

Fatou we will have to see the final potential size, if viable and whether they retain, sell or JV with Hainan or another.

Surin,yes, you can understand why Hainan is targeting Asia for its market with the DMS production.

It is paying off for India keeping out of global squabbles.

Wow George when you look through all of that history you remember just how far it has all developed. You see Bernard with photos here there and everywhere.

Some effort gone into this.

Guys like us finger tapping next to a phone, pc or tablet - makes you feel a little bit guilty!

Can you expand Onlyking?

Muppetguru, I suppose if the offtake was for a long period it could impact the sale price if it were to a third party unless it is disregarded due to the benefit of a guaranteed profit against an upper limit.

But if the buyer is Hainan who also has the offtake it has no value.

Muppetguru I would imagine that the government will have rules around this too. Otherwise for instance Goulamina which will soon be owned 100% by Ganfeng, Ganfeng being the mine owner and offtake partner could pay a low price to the mine which would in turn mean that the government gets a low payment. They must have been there in the early days with some large gold mining companies.

Yes George, we need the company with the offtake to remain in business and remain competitive. Those high peaks can knock them out of business.

If he pulls a good floor price then that is half of the chat board debates gone.

Then the licence and there isn't much left to worry about in an AIM mining context.

It was interesting what he said and I think many don't realise that only one in a hundred explorers manage to get to the point of BFS that we achieved last year.

Where we are now is amazing and we are really just looking at the final pieces. But Hainan has been at this stage many times over and they bring a lot to the table at this stage and for our Steve this is what he does virtually all of his career.

Yes George or it could be a concrete price for example 1100 dollars min then either taper or a concrete upper price maybe 2,500 dollars as an example.

Hainan know what they can sell batteries for and know the range that they can pay for their raw materials and maintain that price range.

What Elon Musk was screaming about when lithium peaked at those crazy highs. Avoiding those.

Sleepy I think this floor price negotiation with Hainan is more interesting.

Over here often referred to as a collar price.

If successful we will end up with a 100% offtake and guaranteed profitability no matter how low the market price of Spodumene sinks - that is an exciting prospect.

This will probably mean that they will want some sort of cap on the price too.

The higher the collar price the lower the cap price normally.

Good for us and good for Hainan if Spod goes sky high again.

Mannhole - exactly.

PS Fooca unfortunately the brash presentations about selling ore to make money don't align with samples and logistical testing from a mine licenced to sell concentrate in my opinion.

You are completely aligned to the CEO Hay and look where you both have ended up.

Only difference is Hay managed to get a bank full of money even out of the final deal. A million at the end was it?

Good link George and the this was the first quote from the CEO

https://www.mining.com/web/lithium-miner-says-mali-stops-direct-shipping-ore-operations/.

Regarding ore.

All of the communications regarding everything are on the Leo Lithium site. It is also worth listening to the late videos of Hay and his attitude and some of the other people also in the videos.

The Simon Hay supporters are convinced like Fooca that Hay is perfect and done nothing wrong others have a different view.

When they announced they were going to ship ore I asked where all of the RNS releases were for storage, movement etc and nobody could provide it.

All the regulations etc surrounding mines and use of public roads for a different purpose I was astounded that there were no releases that Leo investors could provide.

From the down under Africa presentation

Correspondence received from the Ministry of Mines in July

on various matters, including:

• Direct shipped ore (DSO)

• Status of the Government free carry stake

• Overall progress of Goulamina Lithium Project

• Firefinch / Morila Gold Mine

Leo and Ganfeng have:

• Met with the Govt. and discussed the above issues

including relief from duties as per our agreement

• Made a submission to Govt. outlining the benefits of DSO

& provided information on the lithium industry

• Provided documentation to effect the 10% free carry stake

Fooca has messed up, used to boast with others how they were the best and now they are facing a loss. So taking a swing at us.

Cheers George.

Produce and guaranteed profitability - I like that.

If the floor price with guaranteed profit for KMUK is agreed that will make a big difference to the outcome.

I imagine if lithium goes over a certain price some sort of tapered cap will apply.

Very interesting.

Dazguard I was in one lucky to get out with a profit the main guy died unexpectedly. Then the project did not have the same momentum.

If the floor price with guaranteed profitability gets the green light from Hainan that is one concern that some can cross off the list. 100% offtake with guaranteed minimum price should the spot price fall below a certain level.

Onlyking, we are in a good position no concerns.

It is always stressful the nearer we get to the major event, inflexion point.

You have been here before too, with an oil share?

Hopefully Dazguard but we are not producing until December/January so until then I am not paying much attention.

White buffalo agree everything is going to plan so it is a waiting game the licence doesn't have to be resolved until production - but for us it would be good to see earlier.

All looking good.