Member Info for MustardGreens88

Well it's something. Little, but something. My personal thoughts (not advice) on this -

With the November political changes and change of leadership at the company last year, there is new reason to hold on to some fragment of hope here IMO.

They have finally given an update (6 months later granted) of plans to engage with the new government so this is (tiny) progress in the right direction.

They mention the purpose of the MOU is for shipping of large samples to India (finally - news on this, confirming nothing has been sent - whilst not welcome news as it confirms their slow progress, they have finally come out of the shadows and said it. Should have done this a year ago unless there was some commercial reason holding them back.) There is no mention of having to still build the plant in India, but focus is on shipping, which implies plant is already there... big (but fair?) assumption?

There is a "next update" promised ahead of the July AGM, this news before the end of June which isn't too far away. By then they would have spoken with the government so chance of an actual update, confirming if an MOU is in place or not. Could be more stepping in the right direction from new leadership??

The news about refocusing - seems to imply cutting out hopeless projects. Fortunately, the lithium project in Bolivia seems to be one they are retaining and focusing on. Good news.

The JV issue is concerning - but not much they can control about the business partner. Until the website went down, they looked promising.

If you've been in this for years, what's another few months eh?

DYOR etc etc. Ranting musings over.

Your thoughts?

MG.

Hello All,

It is all really annoying isn't it, the reluctant communications from the new board, the lack of response to political and other events - especially in such turbulent times. If they still care about the project, it's hard to tell from their silence. They have not given any signs of activity, let alone confidence. That said, it's hard to tell if this is due to their MO as board members, whether there is really no news on any of the fronts, or what.

The AGM tends to take place in July - probably at the Paddington Station location again. This will be interesting to see (1) who has taken over as the public facing replacement for David H; and (2) what news they have to share about developments.

Whilst expectations of any material news on (2) are not high, and probably little beyond the usual (and increasingly frustrating) "padding" about long term goals, lithium market value is wonderful, the project is good for the country etc, and maybe even a targeted comment again at "impatient investors"... it does make you hope the new person at the top takes a look at what they can do within their power to raise investor confidence, whether this is committing to providing quarterly updates (if only to say - new government, we are going to be in talks over the next few months; or India shipment finally landed! Bulk testing starts in 3 days or whatever) or to set out a visible road map with a marker on where they are.

MG.

Depends.

If you are in it for the short haul, perhaps look elsewhere.

If, however, like many others, you are/have been involved for a long time already, especially when SP was much higher, then IMO, hold on! New Government has been in only for a few months, and already there are policy statements are being made which are favourable to commercial lithium developers internationally, and recent a article said even prior contracts are going to be recognised. Once the big pioneering players have their lithium operations running there - this will be proof of concept of some of the DLE techs at scale - proof that commercial grade lithium can be extracted from that geographical location (high altitude), they will have had time to resolve water/environmental concerns from local communities - and they will by that time have a model of state/private ownership in place - which will hopefully make the path for smaller entities such as Clon, much smoother.

At the moment, IMO (DYOR) -

Relevant points to consider:

> New Gov since Nov, supportive of commercialising lithium and attracting foreign investment and tech;

> New Gov has only been in place for a few months but public stance is promising and there are suggestions of moving to more transparent processes of contract awards;

> Clon's long time CEO passed away last year (during whose tenure, only a little progress was made - but for a multitude of reasons). Point is, change is afoot, in the leadership - which i suppose could lead to a different strategy with observable progress. Could even lead to better relations with investors and more frequent updating.

> Although Clon seems to lack huge investor backing, it did get the attention of the enigmatic Mr Warner last year who now has a significant shareholding. AFAIK, he hasn't sold up yet - and seems to be willing to take a punt.

Some of the negatives -

No one AFAIK has yet used DLE to extract lithium there in commercial quantities. There are political, environmental, tech, and profit split, future demand concerns - which makes it all very uncertain - especially if there are further changes in these areas.

DYOR but if you are already in... and you have a choice... might be worth hanging on to see what the political and process changes, and Clon leadership changes bring in.

MG.

@thebasher

You are of course likely right about having to wait beyond the elections, but no denying the elections are a key stage to this process. Once the new government is in place, then at least all lithium operators in Bolivia will get a sense of whether foreign lithium companies are still welcome (and on what terms, and whether Gov will pick up from where the previous government left off in the lithium "convocatoria" process), whether the Gov is managing local population/public sentiment, ecological issues, and how fast the new Gov can move. It seems to be in Bolivia's economic interests to develop and export lithium but the exact mechanisms, division of profits, ecological issues, all of that needs to be decided before any company can start commercial operations. It is politics so no telling how long, but with political stability and will, I'm hopeful it might move more quickly than in recent times.

In the meantime, all that companies can really to is to "get ready" in the broad sense, prove their tech works, pilot test samples and wait.

That said... it does feel like some companies are terrible are communicating updates. Yes, you have long term investors who understand the complications - but bloody hell - producing 2 RNS in a 12 month period is terrible for your shareholder relations.

The Board needs to rethink - if you can't share news because of commercial agreements, say as much and be clear about this - but do something to confirm that progress is being made and you haven't abandoned this project. If you can provide, then provide details. The whole issue of whether large samples had been sent to / received by India was marked by radio silence and shareholders were left to speculate for a year and then some.

If a company is looking to sap investor confidence, this is the way to do it. Regular updates may not be a shareholder right, but if you have been on a board for 20+ years, you should know well enough that it is a very reasonable expectation. If not an RNS, tweet something, post a photo, give some kind of update to say where you are in the process. No one is expecting a miracle happen, but we do expect courtesy to investors.

Hello All,

Is anyone in attendance at the AGM this morning?

Has there been any additional news or timelines given to being shareholders - or is it just more of the same, i.e. something similar to what was in the June update, "good progress being made and good development of our JV technology, but no dates for when large samples will arrive in India - and all eyes on the Bolivian elections, but we're (super) long term optimistic"?

- Separately, DYOR, but the aluminium-ion news goes back 5 years from a quick google search so I think perhaps more accurate to see it as a competing tech and product if it is in fact viable, rather than a sign marking the "end of Lithium"... sensational though that might sound.

MG.

DYOR etc etc.

Hello All,

If I am reading this right, the RNS of 11 June advising of Warner's increase in shareholding (available on the LSE Clon page) shows that he now owns 12.21% of voting rights, equating to 999,999,999 shares. It strikes me as an odd number of shares to hold, why not purchase an additional one to achieve a holding of 1,000 Million shares? Or is there some kind of threshold or significance to this - I am asking out of curiosity - It might simply be that this was the total amount that Warner was looking to amass for reasons unknown - does any one see something that I am missing?

MG.

From CH records, Clontarf has consistently filed its Annual Accounts at the end of June, around 26-27 June to be exact, for the past 3 years, so likely to be around that date this time too. Hopefully there will be more news to work with beyond that which Next-ChmX has already put out there but who knows.

I think the previous poster (sorry, can't recall who posted) with news of an October delivery date for the Brines (large containers) was right about the year (2025). Next-ChmX's update was dated end of March 2025 and seemed to be forward looking, so likely to have been a typo (2025, rather than 2024).

Upcoming key points from what I can see:

- end of June 2025, Clontarf Accounts (bit of an update);

- August 17, 2025 elections in Bolivia;

- October 2025 - Large sample brines arrive in India if all goes to plan.

Possibly some kind of video update by management too - there were a couple of these back in 2024 I think?

Would be good to get news that the small scale tests in India are working as expected, and that post-elections, the political environment is stable. If that's the case, then even if there are (more) delays, at least investors ought to still have some confidence in the plan.

DYOR etc etc.

What a waiting game eh?