Member Info for OAPK20

“ hysterically philosophical questions.” 😘

Mr William Clifton (just why hasn’t he listed this on ASX?) owns Claystone Masonry and Claystone International and is a director of UPSA, how were the extraction rights and royalty terms benchmarked to ensure they are arm’s-length?

What protections exist for UPSA shareholders if Claystone entities controlled by a UPSA director seek to renegotiate terms post-Admission?

“ Under the 20 June 2023 Agreement, the parties agreed that the Lessee shall pay the Lessor the sum of US $3.00 per metric ton out of the consideration received by the Lessee from its sale or assignment of the deposit rights.”

What does the owner of lots 5 and 6 get? TBC.

“ a Deed of Agreement with the former Yallaroi Shire Council (now Gwydir Shire Council) was entered into. This required the upgrade of the road on a basis to be negotiated and payment of a contribution of $1.00 per tonne per load carried from the land until such time as the road is upgraded to a 2 lane gravel road with bitumen surface to an area adjacent to the house in the village of Kooloona. ”

Has the road been built ?

There is no mention in available council minutes from 2024–2025 of:

• An Adams Scrub Road / Kooloona Road upgrade project

• A completed bitumen upgrade between the quarry and Kooloona

• A new sealed haulage route matching the 1980s consent requirement

Eats into that £10. Makes the £5 question relevance clearer.

But let’s not get hysterical about it.

Red flags that are yet to be fully answered Smooth.

LostMyMind you are easily influenced. Baa Baa Baaa Baaaa

Little lamb

Report away if you think the posts are eligible for removal.

I leave the childish insults to those who blame others for their situation or those incentivised to promote shares for 3rd parties when others post an alternative view.

If the PSA were worth £5 per tonne and carbon credits were unavailable, would this transaction still proceed on the same terms?

Who legally owns the carbon credits: UPSA or the concrete producer, and on which registry are they verified?

If UPSA doesn’t own them, they don’t belong in the valuation.

Although press releases reference environmental benefits and interest tied to low-carbon materials, there’s no formal disclosure on carbon credit ownership, registries, or monetisation frameworks in the RNS.

What third-party transactions or public comparables support £10 per tonne as an in-ground PSA valuation? Please cite dates and counterparties.

Most SCMs trade at £3–7/t in-ground, not £10.

What is the audited NAV at £7.50/t and £5/t, and does the board still believe a £1bn valuation is justified under those scenarios?

Please explain precisely who owns the PSA reserves, who owns the extraction rights, and under what circumstances those rights can be terminated, diluted, or renegotiated following a change of control.

The RNS says UPSA has rights via an “extraction partner” and Claystone holds the original rights; detailed legal terms (termination, change-of-control provisions) are not yet disclosed.

Anyone care to share?

What price Mooch?

Smooth please explain why this is a good thing.

“ it's all calculated to maintain the 11p as basement anchor.”

🤪

After you Mooch. Smack a couple of big buys through.

Long way until they’re finished dumping. LSE let their pumpers away with all sorts of ramping and abuse of other posters.

11.75 are sells

Any volume dumped on.

Just kidding .

“ Opalised and petrified wood are particularly prevalent in the Warialda area and can be found around Tigers Gap, 5km east of the town on the Gwydir Highway. Ironised and other woods, jasper quartz and chert agate can be found in old gravel quarries either side of the road leading to the airstrip road”

Price Range

Common Pieces: Less than $50 for smaller or less unique specimens.

Mid-Range: $100 to $1,000 for more desirable pieces with good patterns.

Rare Specimens: Over $100,000 for exceptional pieces with unique characteristics.

Current CPR references 80m depth and historic estimates reference 139m depth. Significant upside especially if proven deeper. Current EPL limits extraction of finished product at 35,000 tonnes per 12 month reporting period.

“A sand and sandstone resource has been identified with volumes expected to be greater than 100,000,000 tonnes. The sand and sandstone is commercially unique due to its colour, extent and consistency. Testing undertaken in 2004, to a depth of 15 metres without reaching sandstone, estimated

50,000,000 tonnes of commercially unique materials suitable to be used in the manufacture of terrazzo type products. It has been estimated that these materials extend to a depth of 139 metres. At the proposed extraction rate the mine could have a productive life estimated to be up to 200 years but 25 years is a more realistic estimate for the purpose of this proposal.

The sand is friable and can be extracted by a loader or excavator. The sandstone is relatively soft and can also be extracted by an excavator after ripping with a bulldozer. Blasting is unlikely to be required.

The sand would be screened and loaded into containers for transport from the mine by B-double trucks.

Initially, production would increase to 200,000 tonnes per year for the first several years and thereafter be increased in stages to a maximum of 500,000 tonnes per year as demand warrants.”

If they do the overhang clears sooner. IF they do.

Peel Hunt’s remaining holding was:

• ~10 days of total market volume, or

• Much longer if they can only be a fraction of daily liquidity.

Typical “stealth exit” behaviour:

• 10–30% of daily volume if being careful

• Occasionally 40–50% on strong bid days

Conservative / price-protective exit

Peel Hunt = 15% of daily volume

Avg daily volume (normalised): ~500k

Peel Hunt sells: ~75k shares/day

Time to exit: 3,479,500 ÷ 75,000 ≈ 46 trading days/9–10 weeks

Moderate / steady exit

Peel Hunt = 25% of daily volume

Sells: ~125k shares/day

Time to exit: 3,479,500 ÷ 125,000 ≈ 28 trading days/5–6 weeks

Aggressive exit (higher price risk)

Peel Hunt = 40% of daily volume

Sells: ~200k shares/day

Time to exit: 3,479,500 ÷ 200,000 ≈ 17 trading days/3–4 weeks

Peel Hunt had ~3.48m shares left

Based on realistic sell rates:

Fastest exit: ~3–4 weeks (price-negative)

Most likely: ~5–8 weeks

Careful exit: up to ~10 weeks

There is ongoing downside/overhang risk, but it appears managed rather than disorderly.

You’ll know Peel Hunt is nearing exit when:

1. Another TR-1 drops (e.g. below 10%)

2. Volume stays high but price stops dipping

3. Rallies stop being sold down

4. Spread tightens and bid depth improves

Ditching

https://www.londonstockexchange.com/news-article/AMG/holding-s-in-company/17389291

SLR Consulting Australia though. Must be a good thing having their expertise.

“Financeable

Our world-class advisory services have assisted clients to secure over US$33 billion in debt financing.

Combined with our comprehensive feasibility and study management services, we know exactly what is required to give your project the best chance of funding success.”