Member Info for Metalhead25

Are we selling diamonds? Yes, this has been confirmed.
Are we selling tant? Yes, we made our first shipment, this has been confirmed.
Is the lithium deal happening? Yes, the first tranche of money was received and RNS’d.

I agree trust is low but (a) that is a hangover from before Dennis Edmonds’ time as CEO, (b) communication has improved (several recent interviews from Dennis), and (c) they really don’t have to RNS every single thing that happens

They’ve already paid the first tranche and there’s no need to RNS this one, worrying at this point is sheer paranoia

So they haven’t RNS’d the $400k this morning but, as I said previously, I’m not surprised by that because it seems to me it is not RNS-worthy; it is just part of the ordinary course of business. The investor paid the first tranche and had people on site straightaway planning the upgrades. I’m very comfortable that all is well

It’s only a bit of fun. Once it’s digested there will no doubt be an RNS, presentations etc etc

It’s (almost) definitely Hornsey’s report. If you look very closely at the white page below the book you can see his name and signature very faintly showing through from page 2

Are you guys expecting a Monday / Tuesday RNS on receipt of tranche 2? I’m not so sure. I thought tranche 1 was RNS-worthy because it confirmed that the deal was actually happening (as opposed to KZG’s 2021 “Namibian investor” and IRON’s Grosvenor investment). But we know the deal is happening now - the investor wouldn’t have paid tranche 1 if not. So isn’t tranche 2 just the ordinary ticking over of the business?

Personally I think Kav have noted that this is a good time of year to be quietly working on drill plans for both of the KSZ and the KCB, with a view to having a busy autumn when markets are busier again. Very sensible and likely only a few weeks to wait until things kick up a gear. We also know from interviews that there have been conversations going on with potential partners, including reviews of the Kav data room. So that’s another possible explanation for the current relative quiet. I’m not counting on that one though. The one I’m confident about is that we’re doing the groundwork for a busy autumn

Livestock, from memory I think when the Hanc0ck scoping study was announced (Nov 2021?) Bill said “12-18 months”, didn’t he? That would be all of Q1 2023, plus a bit either side

The map is now accessible and to my untrained eye the Acacia and Morula targets in particular look very compelling. Interested to hear Keith’s take on them.

I would like us to be moving faster and to be drilling imminently but I also recognise the value of the work being done to get this right

I also agree. The best result would have been some stellar intersects, but the second best is something that makes clear where our focus should be. The worst would have been something promising but inconclusive

So I guess Almace must have taken up most of the placing, right?

Pretty sure the owner of Avonmouth paid for the rights auction, not Corcel. As Agricore says, the issue at the moment seems to be PNG costs

I also think it’s notable that the RNS focussed specifically on Munni Munni. That resonates with a thought I’ve had often, namely that Munni Munni is a known monster resource which, if newly discovered now, would create a huge buzz and a significant valuation; whereas here we seem to have almost no value attributed to it by the market. I think changing that is a very sensible major goal for the company

I like Bill but think this change is appropriate to the more advanced stage we have now reached as a company. The main tasks now are not exploration but corporate financing/exploitation work. Why get a geologist to do that work? Doesn’t make any sense

I think what we’re seeing today is that there are one or more irrational sellers at anything over 1p. This may mean the SP takes longer to rise. I look at that as an opportunity

Excellent interview from Dennis today. Great projects, presented very well. Doing a great job at the moment

1. Over £3m cash (£2.5m from investor plus recent placing).
2. JORC resource 622,000 tantalum.
3. JORC resource 125,000 lithium.
4. Mining operation already up and running, capex for ramp-up already funded.
5. Offtake already in place.
6. Profitable diamond operation (profits to increase alongside HMS operation).
7. Heavy mineral sands licence secured subject to one objection/appeal - once finally granted will deliver significant profits fast.
8. Application submitted for additional larger HMS licence.
9. New rare earths project.

Three things have been holding this back: trust, PR and ramp-up investment for TVM. If we are now seeing all three changing, the value here is absolutely extraordinary

1. The investment is real this time.
2. Dare I suggest the company’s PR is improving.
3. New investor not just putting in money but also looking to drive the mine forward

So, the first £100k is due to arrive today. Does that mean we should expect an RNS today? No, because:

- it may not be deemed worthy of an RNS (the deal itself having already been announced); and
- the money may come in near the end of the day and be announced tomorrow.

I note that Dennis is doing an interview on Wednesday so I would hope for confirmation then, if not before

I’m not selling any time soon. As I see it we now have a nice setup where:

- We may get the HMS licence in the next few months and, if we do, we shoot up to another level again
- If we’re don’t get the HMS licence, we’re nevertheless now supported by a very promising tantalum/lithium operation

So I kind of see this as a 1-way gamble on the HMS licence over the next few months. And I want to see that play out