Member Info for NorthernShark

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Mikie, I hadn't noticed the additional options. Definitely something to raise for me. Strike price at 1p is a joke for me so will need to hear the justification from the Chairman who now sits on the Remco.

ATB Northern

Sounds like a plan Mikie

AGM Meeting Location: Cafe Nero at the corner of Great Queen Street and the A4200 - 77D Kingsway, London WC2B 6ST. Only a short walk to the Fladgate Offices and met an hour before the start of the AGM last year.

Same location as last year

I will be at the AGM and looking forward to catching up with some familiar faces and also some new ones!

Been through the accounts. No red flags and some interesting information contained so would encourage all holders to do the same.

Who we are - size of opportunity - 2mt Chrome after the new modules installed next month. 45k copper via Sable, Roan, Open Pit and OB1. Interestingly 100k oz PGM's based on expanding process capacity - my read is plenty of material to process once prices improve and represents a massive upside potential.

Mufulira test work done (not sure if all or part) and in commercial discussions with Mopani Copper Mines.

ATB Northern

Sumo, I agree - what I am looking for is commentary about September where the power has been uninterupted and we have been told the DMS has been handed over to operations. This should give an indication of what we can expect over the remaining three quarters of the year.

Mikie, looking at a depressed share price is never nice but I keep reminding myself of what has been built and the material which has already been secured. Thats all without considering certain forecasts for recoveries in commodity prices. I also remember the journey up from 2p depths which was rapid and could well happen again.

ATB Northern

Completely agree albeit I don't think it will be too much longer. Lots of newsflow due over the coming weeks starting with the operational update for the quarter - key thing will be the numbers from the ramp up of Roan. We might not see the full capability but will hopefully provide some comfort in the numbers.

Further catalysts in the short term - Thutse 2 and 3 operational, M and G ramp up, further SSM deals, OB1 Trial results and hopefully go-ahead with the project and Draslovka leaching solution which potentially unlocks the value in the tailings and low grade stockpiles.

If this seller disappears then the patient investor could be rewarded!

ATB Northern

The Stock Market is a Device for Transferring Money from the Impatient to the Patient….

Shuvlin, I think I could be described as a soaker! Whilst going even more overweight does on occasion cause me some doubts, the story does not and I firmly believe it is a matter of time, like it was from sub 2p. Has the same feeling - dysfunctional market. Just over 2m shares now - madness or good investment only time will tell!

I sincerely hope it is the latter!!!

ATB Northern

Marine, for OB1 I did 260mt at 1.5% with our share being 30%

Apologies, I did the calculation quickly before getting off the train so probably a typo. The point holds that it is still a very large number!

ATB Northern

Listening to the podcast again and it strikes me about the focus Leon put on the secured resources. Whilst I appreciate they will not produce all the contained copper, going through the numbers again and they are huge!

Elephant - 326k

Luanshya - 387k

Mufulira - 91k

OB1 - 1,562k

Total 3,167k tonnes contained copper, excluding Small Scale Mines, Cobalt and the Lead, Zinc and Vanadium at Kabwe.

ATB Northern

The payback period on the open pit mines is measured in months rather than years which in anyones book is good economics for a project (and low risk to boot!).

Rapid progress from this point forward both on the copper front (thanks for the Roast boys for a very informative podcast - great to hear from Ricus) as well as the Chrome front with two additional modules due to come online within weeks.

If they can use Draslovka tech on-site successfully then the very large tailings projects come into the cross hairs.

ATB Northern

Sumo, they are generating cash now. As the copper develops it will self fund expansion especially once/if the OB1 project is operating

Really informative interview especially for someone like myself who doesn't have any mineral processing background. Monkoyo could be a very substantial asset by the sounds of things!

All metals are profitable. Copper will become more so as the volume increases. Chrome costs look higher as they are purchasing ROM material but ultimately that is more profitable than the toll processing. As both SA and Zam expand the overheads will be spread across a larger revenue stream so again adds to the relative profitability.

It may also be the case that the business development costs for the Zam expansion have been put through the P&L. If these operations go live then a proportion can be capitalised and amortised over the life of the project.

Edzi - Gotreal states 24/25 (i.e. this financial year) 10-15k and 25/26 15-20k - you are talking about the year afterwards.

I personally think they will do circa 10-12k this year looking at the timings of the various feed sources.

Next year should be towards the 20k+ region if Sable will be full from Dec-25 which has been stated as the target. If OB1 is in operation by Dec-25 then add another 30% of 12k or 3,600t

Seis, there is ($3.9m) in "Other" (Point 12: Business segments") which will be Corporate overheads / business development which will likely be expensed until it turns into a live project. This could account for the difference perhaps

ATB Northern

Pedigree, its absolutely not nonsense to say we have that capacity as that is a fact.

Jubilee have quite clearly stated they are looking to fill Sable with Open Pit material by the end of 2025. If you listen to the podcasts the forecasts will be updated as the new feed sources come on line and are producing. I would expect this to be the case each quarter as things develop.

The same will be the case with Chrome. Once the two Thutse modules are operational I expect the 1.6m forecast to be closer to 1.8m but this will only be done when the units are operational.

The problem with copper was the delay to Roan and the strategy which has evolved over time.