Member Info for Laverda

Nice old proven technology been used the world over for decades.

Even better with them being production plants all the wear parts can be replaced 'easily', I say easily these are big plants and need cranes for many parts also many are cut and weld replacements (plates etc), bolts come loose.

The fact Steve has two smaller plants is also good, one can keep running while the other is receiving maintenance, more efficient use of service crew and of course production continues.

Also the smaller bearings etc are cheaper to hold in stock but can be used on either plant, if parts are cheaper you can carry more of them on site.

I also think the Leo Lithium issue needs closing off, once it is all in print and everyone sees it was all centred around Leo Lithium itself and the company's own actions it will get rid of all of the gutter press remarks.

It should also impact the gold mines too.

Possibly approaching election date on the 4th February, but it is postponed.

No way can their offices turn that around this year, was an impossible task.

It happened a couple of years ago, was it 2021? 480 dollars per tonne. Then it went up nearly 10 fold.

Market prices of new commodities, much like the profits of a new and growing company do not go up in a linear rise. They peak, drop plateu then rise and continue that way until the market is fully established where they then find their level.

We don't need high lithium prices as our initial model was not built on the high prices, however we should be in production around the right time to surf the next wave.

It takes years to build a gigabyte factory as each goes on line production will be taken up in offtakes, then slowly production will catch up the price falls then another factory comes online and so on. It will be a regular pattern.

Tin hats alright Daz, some other lithium companies with a mine quick but expensive to gain money to develop while lithium prices are high will not make it if the price remains low for 6 months, some maybe less.

It shows what we used to say in the early days, boring is good, literally.

Drill do accurate sampling build up a jorc and go to bfs. Don't trust existing results on the ground you are working, confirm with your own results. Not trusting results has been proven at our Fatou goldmine and in another company's mining operation where high impurities were not picked up in the old drill results.

That way there are less surprises when it comes to production.

Everything stacks up here, Bernard with his low cash burn and methodical working is bang on track to make us the multiple we initially invested here for.

I am fascinated to see what Leo Lithium's payment to the government will be for, the Morila goldmine, mining ore without changing their licence or a combination of both, we should see over the following weeks.

Leo is still a massive mine and will still provide a good return for their long term shareholders.

It will also be interesting to see if the government uses their payment from Leo Lithium to buy their stake in Leo Lithium. The 5% they can purchase.

One good thing in Leo Lithium's last presentation they laid out all of the reasons why they were in discussions with the government.

None of which relate to us.

Unfortunately the press of today don't report that type of information. No drama in it.

Hop, agree. I would prefer to have heard everyone was back working after the new year, the shift pattern of the original rig, when new rigs were expected on site.

Some plant updates will follow shortly as will Nielle and Fatou updates, just to let you know we are on it.

Along those lines would be better.

Danners one of the gold mines may have an RNS regarding the mining department.

Onlyking- They are unlikely too, his major investment has just clarified in an RNS, if it all works, profits will be marginal.

Sharebug, Kodal will be flat out busy.

Unfortunately, in Bernard style we will likely at some point get an RNS which most CEOs would have broken down into 3 - 5 RNS releases.

Fortunately at the business end Kodal is very well run.

However Bernard needs to learn how to manage investors. Since the start and up to first production he will get away with always running a market cap well below net asset value. Later in his CEO career he will not as it is judged alongside other management factors.

He needs to work on it this year if he wants to be a CEO of a large company.

Musicman, I tell you it is building up to an epic.

Red Bull at the ready.

He doesn't do short and sweet.

Andii really guessing values is pointless no matter how well supported any included values are.

On a small budget and with one drilling rig the lithium resource and therefore overall project leapt up 40%. I believe from reading something in the past that another two rigs are going to be on site. If the ground is as good we could be leaping a further 100% over a similar timeframe.

Nielle goldfield is close to maiden value and we have no idea what it could be worth.

Fatou is behind Nielle, Bernard had doubts about Fatou drill results which he has confirmed but also received surprise results from wider drilling.

Until the resources are all updated none of us have much idea.

Next door on lithium alone has an NPV of 2bn dollars. That was after two years drilling, I believe with two rigs.

They are really busy in the Mali mining office.

The mining code reviews, last one in 2019 and this one centre around gold mines. Licences issued then not mined, resources in the mining licence and tonnages mined bearing no resemblance to the initial submissions. Royalties etc difficult to track and apparently the government should have taken more tax from gold mined in 2021/2022 and possibly 2023.

The previous code brought in penalties and some form of taxation to deter this practice. However there was a loophole whereby gold ore could be moved from one of their mines to another for processing and somehow avoid this tax.

So ore rules allegedly have been brought in. However it appears that, for one example, B2B has three mines, two already feeding and another awaiting licence issue, feeding into one processing plant, so it is not straightforward, these issues which are being ironed out are creating the delay. B2B is currently being dealt with in the mining office according to B2B website.

But the government is adamant that the mines will not circumvent taxes. Which seems fair enough.

There are probably in depth articles about this, but because Fatou is not close to being mined and Bougouni has no intention of shipping ore I have not spent a lot of time on it.

But it gives a bit of background to the wait for the mining licence transfer and why we are proceeding to build and mine the way we are.

I have that horrible feeling that Bernard is building up to one of his war and peace RNS releases.

Please Bernard simple short and sweet RNS releases, not one where everyone picks up six good points and then debates the meaning of one paragraph for two months and somehow forget the good points.

For instance plant construction has begun on the xxxdate and completion should be around x ready for when it is expected to be required in y.

Nothing else.

Drilling: in addition to the rig which has constantly been working since x, two more equal size brand new rigs are now on site and operating.

I think we are going to get one which is going to run for pages, his idea is that he just does one interview afterwards - not a good plan if he is thinking that way.

Mister P it is a high risk investment, our market cap is around £20m more than our share of all of the cash.

It is not like we own much a few gold fields, 49% of a lithium mine.....

Paris & ELC, we do need to get moving on those goldfields.

We have the cash no excuses now.

Pedro if share price was a good indicator, how do you explain the high market cap of dud companies on AIM? If everything is in print to show they are a dud, do you invest because they must know something else for the share price to be high?

At anytime in this companies life, the share can go up or down, lithium price went sky high and people invested when it was at that price with the return that would bring, current lithium price will not excite them and they are gone.

Meantime old investors hoping for 680 dollars per tonne rising in our dreams to 880 dollars would have been amazing and a good return for us. We would have wet ourselves at 1,000 dollars per tonne and probably had a celebratory drink.

There will be good returns for us if the current lithium price remains when we start producing in 12 months time.

Any higher lithium price is just a big bonus.

I think the potential risks with Kod have been done to death on these boards. I can't think of anything that has not been covered except maybe an earthquake.

BFD no short term speculation of selling out due to the legal imposition on us before the licence transfers over may have a little to do with current volume.

Once that transfers you may get some speculators.

But it would be a mad time to sell, we want loads of drilling and build up that resource and get some idea of what Nielle may be worth.

Mr Spoons I will have another listen after work, cheers.

Mr Spoons, regarding the gold I asked a question at the last Q&A session, it was the first two questions, one about the offtake and the other regarding gold.

It was an interesting response, I may be totally wrong but from his answer I think he is more interested in Fatou and I wonder if Nielle will be sold and if it will even get to maiden value.

Have a listen and see what you think.