Member Info for Poppyseed

The Tectonic view of Whale Head Minerals HMS from their broader update today:

"Rare earths in heavy mineral sands joint venture

Tectonic holds a 40% economic interest in Whale Head Pty Ltd, a heavy mineral sands mining (“HMS”) project being developed by joint venture partner, AIM quoted Kazera Global Plc (“Kazera”). In July, Kazera announced elevated radioactivity readings in ores beneficiated from alluvial mining of HMS in the Walviskop project in South Africa and as a result the need to engage South Africa’s National Nuclear Regulator. This is worth understanding in more technical detail as the source of the radiation is weakly radioactive thorium, a Rare Earth Element (REE) found in monazite.

The HMS ores at Walviskop include economic concentrations of rutile, zircon, and monazite. Rutile and zircon are widely used with a range of industrial applications. Monazites are less well known, but are rare earth minerals typically comprising thorium, lanthanum and cerium. Lanthanum and its neighbour on the periodic table, cerium, are used in high end lighting applications, think flat screen TVs and iPhones. Thorium is used in heat resistant ceramics and platinum catalytic converters in diesel engines on cars, trucks, ships and trains. The elevated radiation readings in the Kazera testing should be understood as evidence that the ores contain valuable monazites. With China’s recent restrictions on the export of certain REEs, this is a positive outcome for Tectonic.

Probably MM signals

Undoubted value there Agricore and all in the price for free and, based on the last update, looks like the concentrate is of an even higher percentage now that the pilot plant is up and running:

"...The Company continues to make good progress on the Heavy Mineral Sands("HMS") project at Walviskop. The pilot plant, which incorporates an HMS circuit and double decker Horizontal Vibrating Screen, was installed in May 2023 and testing has revealed very promising results which the Company has been continually including in process alternatives, whilst also allowing the Company to determine the exact make-up of its HMS and guide its initial thinking on processing plant design.

Samples and test results from the pilot plant have also formed the basis for informed strategic discussions with industry experts and off-take partners on the short and long term potential of the Company's HMS. From these discussions, initial findings suggest that the Company's HMS has a heavy mineral content of approximately 62%, with around 55% of the resources classified as "saleable heavy minerals". Indicative pricing for the basic (unseparated) product is $160 per ton, but by undertaking further separation the price is expected to be approximately double this whilst, importantly, transport costs would remain at the same..."

Re my last...seems like we're on then - that's quite a turnaround since they were reported to have said "...that their continuing policy in respect of all their investments, is to vote against any resolution to disapply pre-emption rights, irrespective of whether the proposed authority is general or limited..." just a few weeks ago.

Why would it be a no? Major shareholder is obviously in favour from his tweets.

17m is tax losses, not debt. One very positive, one very negative.

Personally, reading the runes, I don't think the RTO stage will be very far behind completion.

Looks like an after hours report of 16m changing hands today!

Https://twitter.com/KazeraGlobalInv/status/1687101421538480128?s=20

Guess they relate to this:

"The Company has purchased new heavy plant, including a Front-end Loader and a 75 ton Low-bed transporter, to allow the sharing of equipment between Deep Blue Minerals' diamond project and Whale Head Minerals' HMS project. Whist clarification is sought on the next steps on its HMS project, this equipment will be used to target areas which contain prospective high quantities of diamond gravel.

Deep Blue Minerals will then bring in its 70 ton excavator to remove overburden, which is several meters deep in places, and move it on to do the same at the next site. A smaller excavator will then follow to remove the gravels and place them in Deep Blue Minerals' screening process, which is now in operation, with screened product then being subject to secondary screening at Alexkor RMC JV' Muisvlak plant before going to the Final Sorting Plant in Alexander Bay.

The Company believes that this will create a very cost-effective approach to focussing on potentially rich diamond deposits which the Company anticipates will contribute substantially to cashflow and cover operating costs of WHM."

Rights now, bagger later? So here’s the thing. At the AGM on 22 June 2023, Resolution 8 was:

Resolution 8 – Disapplication of Pre-emption Rights (special resolution) This is a special resolution which proposes to disapply the statutory rights of pre-emption in respect of the allotment of equity securities for cash under Section 561(1) of the Act and authorises the Directors to issue equity securities as continuing authority up to an aggregate nominal amount of £150,000 for cash on a non-pre-emptive basis pursuant to the authority conferred by Resolution 7 above. The authority granted by this Resolution will expire 15 months from the date of this Annual General Meeting, or if earlier, at the conclusion of next annual general meeting of the Company, subject to this authority being substituted by a similar authority at that meeting.

The Resolution was substantially voted against. The explanation was “…The directors also consulted with the Company's substantial shareholder ahead of the meeting with regard to the special resolution number 8 and have been informed that their continuing policy in respect of all their investments, is to vote against any resolution to disapply pre-emption rights, irrespective of whether the proposed authority is general or limited…”

So, within a few weeks, following also a recent change of Nomad (Why at this stage? Does it point to future action/shift in direction/reverse/raise?), the GM scheduled to approve the IMM SPA, also includes:

Resolution 3 – Disapplication of Pre-emption Rights (special resolution) This is a special resolution which proposes to disapply the statutory rights of preemption in respect of the allotment of equity securities for cash under Section 561(1) of the Act and authorises the Directors to issue equity securities as continuing authority up to an aggregate nominal amount of £1,500,000 for cash on a non-pre-emptive basis pursuant to the authority conferred by Resolution 2 above. The authority granted by this Resolution will expire 15 months from the date of this General Meeting, or if earlier, at the conclusion of next annual general meeting of the Company, subject to this authority being substituted by a similar authority at that meeting.

What? So what the substantial shareholder voted again in June has not only be re-included but beefed up by 10-fold? Wow, wow, wow! I’d say keep ‘em peeled on 18th! If the major shareholder votes in favour this time, it’ll surely be the strongest of pointers that something substantial is being lined up here for life after IMM.

In before the 18th to secure rights to IMM claim, bagger incoming thereafter? I've seen worse punts! DYOR

There'd normally be a raise in conjunction with a reverse so no worry about lights as long as they have a plan or have already received approaches.

Given the arranged departure of Peter Taylor concurrent with Completion, therefore having no Executive force afterwards, I suspect it's the latter. I could see assets to being brought forward by a new executive team to be exploited via a reverse and new funding in conjunction. The £18m of tax losses makes the co particularly attractive for its next incarnation.

Re any Moz settlement, shareholders need to be in it to win it i.e. on completion day which looks likely to be early Sep now.

Any new shareholdings after the completion date look set to be locked out of the proceeds of any future settlement.

Note also that PT, voted off the Board recently but then "employed" by the Board as CEO for the purposes of continuity will now step down as CEO of Pathfinder concurrent with deal completion but will continue as a Director of IMM, then owned by AAG.

Which begs the question who will be the new CEO of Pathfinder from the date of completion? Could something already be getting shaped up here to minimise the time spent as a shell?

New Nomad will not be for nothing and will have done their own due diligence before agreeing to act.

End of Dec most likely but, in any case, it's rear view mirror stuff. For a company in transformation, it's the front windscreen that DE has a clearer view than anyone else. As I recall, he also has options over 25m @ 1p which makes this an even bigger statement if he thinks that's not enough!

AMS 280m @ 1.5p during 2023, now DE top up of c. 5m @ .8p. As ever, words are words but money talks much better.

Looks like an admin error to me too mac. Whoever it is that does their Twitter has mainly just been reprising pages from the Q2 Presentation lately and the extracts I've seen printed here bear a remarkable resemblance to Page 7 - Proven Strategy which says in part:

Full operational control passed to Xinjian with 100% ownership only

passing once Kazera paid in full – expected by the end of 2023

Kazera to retain the right to receive a debenture payment equivalent

to 2.5% of gross sales of produced lithium & tantalum for the life of

the Tantalite Valley Mine

Allows Kazera to invest in its other projects without the need for

additional capital raising

So I'd say some bright spark decided to drop some absolutely vital words and looks like management were very quick to react and hopefully also deliver a flea in the ear to PR or whoever.

I didn't ascribe any value to today. I was clearly referring to the crazy days in or around 2015/16 when the Company was reinvented from Kennedy Ventures to Kazera by GC and Co and moved from sub 3p to around 16p in fairly short order. As for current value/future value, I guess one can only assume that AMS are not halving their money temporarily in order to merely double it later, especially if they haven't a clue how investing Kazera would create any value for them. That would be stupid. Are they stupid? The answer is the game we play. Clues or not? Opportunity or not? Early bird or not? Follow the money? Etc., etc.. Decisions, decisions....

I didn't ascribe any timeline because, clearly, for HMS ops, much will now depend on the outcome of whether a special permit is required or not, progress on the consideration is expected by mid-Aug latest, as everyone can read for themselves.

"...To guide this discussion and any possible application for exemption / additional permitting, a comprehensive baseline study of radioactivity has been conducted across all areas of Walviskop, including areas where the Company's HMS will be stored, processed, and transported. In addition, a Workers Safety Report and Operating Procedures are being compiled by a third party and should be completed by mid-August 2023 at the latest.

If a permit is required, the application could take between three and nine months whereupon the Company will immediately commence production and sales of the higher value HMS products...."

Nor could I possibly ascribe a timeline to new ventures yet to be revealed but that were pointedly alluded to in the CEO's recent interview.

Mrcautious, the progress within the company since the days of the one trick tantalum pony is tangible for those that want to see it rather than blether on about broken dreams from the inglorious days of GC promotion whip where, if most were honest, they would admit to having chased the consequent momentum rather than properly researching the state of the run down tantalum mine being bigged up beyond its prospects.

Thankfully, there is now no link at all to those days beyond the outstanding payments still to be paid by Hebei before they acquire ownership so heaven knows why such chat has any bearing on what is essentially a new company which has seen a complete change of management; a complete shift towards new easy-to-mine commodities; transformational HMS licence approval gained less than a year ago; TVI interests sold for a good sum leading to current extremely healthy cash position with more expected throughout 2023; free cash for investment into operations and new ventures; new major shareholder paying 1.5p, near twice the current SP for a 280m, 29.9% stake; promise of their involvement in introducing new opportunities and significantly growing Kazera according to CEO (or what is the point of their investment?).

Yes, operational delays are still the case but are time-limited, even in worst case scenario but expressions such as anyone outside the company being able to "lure the ship onto the rocks" are quite ridiculous and inappropriate to the current outlook.

As for "stupidly patient", probably true from 2015 until about a year ago which clearly includes yourself but many others did not join in the ridiculous 3-16p days or have joined much more recently or are capable of adjusting to the real changes here which, naturally, bring with them an amended timeline, against the backdrop of new operations needing to be brought into production following a licence award less than a year ago and the cash to enable that only accruing in sufficient amount since the shrewd decision by new management to take a good offer for TVI at the turn of the year.

In short an AIM company with cash at a very difficult economic time for many others; an AIM company where a private investor is punting £4.2m on 280m shares at 1.5p during 2023, near twice the current market price and now having acquired full voting rights over the 29.9%; an AIM company on the relative cusp of meaningful operational cashflow; an AIM company looking like the vehicle that its soon-to-be major shareholder will work with the Board in order to multiply its investment.

Opportunity is a notion. Seizing it correctly, based on certain verifiable facts, not ramp, is what separates the Kazera of today from the Kazera you invested into.

Recommend a replay to also fully absorb his words on AMS. Let me help:

"...one of their principals is involved in a number of big infrastructure projects, both in Africa and in America. They see, I believe, Kazera as a strategic investment and they see a number of opportunities that can be created by introducing deals to Kazera and allowing Kazera to be built up. So they see Kazera as being a much, much bigger company, in a fairly short period of time.

Certainly, some of the things we have looked at and are currently looking at with them, are very exciting and will make a very, very big difference to the scale of Kazera.... [Note "will", not "would"]

[Re AMS holding]....it does mean they have a substantial influence in what happens in the future, going forward.....[Should shareholders be concerned]....Oh no, their interests are very much in seeing Kazera grow and in seeing additional value. They have paid a premium, a substantial premium to the current share price, which makes no sense at all unless they can increase the current share price and see a return on their investment so that's very good news for everybody...."

Really good interview:

https://twitter.com/KazeraGlobalInv/status/1679041003531976705?

Https://twitter.com/StockBoxMedia/status/1678794328120909826?

Presumably tomorrow?

t=1nlD9KdvTy6txoDqCGHW2A&s=19

Never mind the sellers, I think the stronger point is made by the buyers, as per this tweet:

https://twitter.com/steddieddie/status/1674419966895083524?s=20

The AGM was already held in April:

https://polaris.brighterir.com/public/kennedy_ventures/news/rns/story/x5z8y0x

No logic to what you say, recent video points to good progress with the interim plant, the big daddy plant is in manufacture. I'm sure an update will follow when there's sufficient useful stuff to say.