Member Info for Major-Tom

Pbow, I personally think that whatever the outcome of the election the result could be the final catalyst to a bid for SOLG.

With Gold prices at ATH's and expected to continue to rise amd copper looking like it could follow suit SOLG must be on the radar of many entities. I expect bid(s) once the election is over and there is a larger window of political stability to transact and progress the project.

Trying to work out why an eventual win fir Luisa González is seen as an issue. Shes as a protege of Rafael Correa and I don't believe there were any issues for SOLG during his time in office. Is there really any risk from a González victory?

Definitely agree that MKA has comfortably broken out of the downward trend. I personally thought it broke the trend in late Novemebr last year.

Expect a little resistance and sideways action around current price until more news is forthcoming.

Dont know how much this was discussed. Talks positively about Ewoya however around 27min in suggests Ewoya final investment decison may be dependent on spod price recovery. Ia this the first there has been any concerns over FID at current spod price?

Yes agree Fulmar. Must be based on historical data from Anglo. Maybe validated by drilling so far.

I was always sceptical on the Large scale Mining Lincence application because of the requirements to satisfy the application. I assumed it was some sort of move to counter the court claims or all some hiw part of the JV negotiations. Granting of the licence suggests there is a lot more known about these li excess than I thought. Maybe legacy data from the old Anglo / Equinox exploration phases that Anglo have on file.

As I said earlier IMO this is very significant new.

Been silently watching developments with ARCM over last few months. Got to say hats off to them and Anglo. The granting of a 25 year mining lease on such highly prospective ground is a massive derisking event. The licences and legacy issues were one of my biggest concerns here. That now looks to be removed and more importantly I think it proves that the Zambian authorities really, really want to work with Anglo to advance these copper deposits to what could well be 1 or more Tier 1 copper mines.

IMO Very significant news indeed.

Git to be realistic. The key point from that statement is the inability to agree offtake due on favorable terms dur to the current lithium / Spod prices and the knock on effect this has on ALL being able to fund their share of the CAPEX.

Suggests to me that, despite the low AISC's, funding and therfor the development on Ewoya is dependent on the lithium price increasing considerably from current levels.

Given the lithium price will likely see a relatively lsow and steady increase over 2025 this will likely have a serious delay on the Ewoha development which will intern likely mean further funds require to be raised in the mean time..

Cannot belive how this has played out. Neil and Amanda were so bullish on the offtake and RAT. I understand that RAT is entirely out with their control but they must have / should have known the issues with securing offtake agreement

Sold out on that little bounce. DMs Conduct has been nothing short of disgusting. To proclaim that Amsden as a proven commercial discovery 1 week before it is officially declared non commercial is either incompetent or dishonest. I can't invest in incompetent or dishonest management so I'll take my loss, learn my lesson and move on.

GLA

Just took another £10k of MKA stock. BFS great endorsement of the HPMS technology and now Cohen and Co appointed.

Key point to consider this appointment has nothing to do with Magnito, Hypromag, HPMS recycling. They have been appointed by Lancaster relating to Songwe and Pullway. Funding, JV, sale................ who knows but IMO songwe and pullway have been discarded in terms of market valuation and any significant news them should have a significant impact on SP.

I think the market realises that with the impending election it will most likely br early 2025 before ratification of mining lease and the value driver that will follow. Suspect, excluding another offer from assore, that this will be pretty stagnant until the new year.

Previous 33p p/share offer valued the company around £215m.

Post Tranche 2 dilution the same £215m would equate to around 31p p/share.

I don't agree that nothing has changed since last offer. The grant of the environmental permit and mine operating permit are equally, if not more important than ratification. Also need to consider that ALL's funding position post raise is much stronger and will almost 100% be enough to see us through until ratification and the subsequent MIIF investment and offtake deal.

All in all I expect Assore would bid somewhere between £215m and £250m. Equating to between 31p and 36p p/share.

All guess work I know and no idea if such a bid would be acceptable.

Maybe Asskre have an anti dillution clause. Maybe the BOD would like Assore to make another offer.

I guess if this does trigger an offer under the 3% creep rule you could view the AGM vote as a proxy vote on whether shareholders at large would like Assore to make another bid.

Yes, PP, I hope that we don't have long to wait.

Lanier, any meat that was available to be consumed should have been presented appetizingly in this moorings RNS.

One of my bug bears with Nick is his embellishment of rather vague regulatory news in investor calls. Often in the past there has been quite a significant miss match in what he say in RNS and what he say in investor calls.

Pp, my thinking below on the compulsory offer requirements on the thread below.

There will be plenty of people interested in taking over ALL / Ewoya / the Cape Coast assets. Assore have first mover advantage. If they don't capitalise on that soon I think they could face some stiff competition.

Regarding a compulsory take over PP. The relevant yakover code for ALL is the ASX takepver rules. The 30% rule dose not apply. The relevant rule is the ASX 3% creep rule. I have posted a few time over the last couple of weeks my understand of this and why I belive that a mandatory offer will be required once tranche 2 goes through.

Agree, Assore will continue to buy up Piedmonts share of ALL. And, If the opportunity arises they will buy out their project level investment too. They have already shown they want this to themselves so IMO will continue to buy up whatever they can. IMO, there is no danger of this project not getting funded and into production. Only question is how long and who by.

Agree Steven. Its a holding RNS. Guess they had to put something out. To me the bullet points are :

3 New targets drilled.

Target 1 = Positive for oxides but not what Anglo are looking for.

Target 2 = Negative and not worth following up on.

Target 3 = Promising and worth following up on.

Not sure how the market will take this mixed news. Anglo still have plenty of time to find something significant. Its just the nature of exploration on this scale. It can take a very long time to find that Tier 1 deposit. So far no sign of that. But, so long as Anglo continue to find mineralization that keeps them interested in the licenses we always have the chance.

Time will tell!