Member Info for PortfolioPower

Thanks MT

With cash in the bank now, we await the next piece of the jigsaw to play out.

BoE widely expected to cut interest rates to 4.75%

Reductions in debt servicing costs on the horizon

Assore have had 2 bids rejected at 33p / shr

They really want this project and another bid is incoming that I think will go through this time.

Cannacord price target of 185.00

Either way, deeply undervalued at the present level

P/E ratio at less than half the sector average demonstrates this.

"The Assore Participation and Director Participation are conditional on shareholder approval at the Company's upcoming Annual General Meeting ("AGM"). On the basis that Assore's participation is approved at the upcoming AGM, Assore will hold 30.56% of the Company's issued share capital"

> 30.56% = Mandatory offer incoming from Assore.

The only way they could have blocked a mandatory bid is If they passed a special resolution at the AGM whereby Assore agreed to waive their right to make an bid for 100% of the share capital of the business.

No such AGM resolution has been proposed that I can see - link below to AGM:

https://www.atlanticlithium.com.au/s/Atlantic-Lithium-2024-AGM-Notice-of-AGM.pdf

Imo, the move to 30.56% results in Assore being 'obliged t'o make a further bid upon crossing the threshold once they own 30.56%

Its another Bacanora /.Sanora situation playing out again

https://www.mining.com/bacanora-lithium-accepts-ganfengs-391-million-takeover-offer/

Assore will buy everyone out unless a rival bid is tabled.

> Atlantic lithium Ewoyaa is a 36.8Mt @ 1.24% Li₂O

> Kodal Minerals Bougouni Lithium Project is just 13.1 million tonnes (“Mt”) at 1.04%

-

Atlantic Lithium is c.300% larger Li Resource

ALL have a genuine Tier 1 resource

Huge valuation gap to be closed here!

If we see another stake increase from the Australian retail Billionaire Brett Blundy and we get an announcement on who the American partner is rolling out across all of USA and then they come in on or near guidance with future growth from Ireland, Australia, USA, plus the newly opened UK stores this will be heading back up towards 150p.

Certainly been a roller coaster but gonna enjoy the journey over the next few months as this all plays out.

Present SP is simply an opportunity to accumulate some cheap stock for a business that has demonstrably proven its resilience in far tougher market conditions.

-

Scaling in over a number of tranches is usually a decent idea when scooping up cheap stock on and around the lows.

Assore put up the money in the recent placing which has diluted piedmont stake and increased Assore's

Market doesn't know when ratification will happen which is precisely why the present cheap entry is on offer.

One can argue one way or another

But when the red dot lands price will be back well above 20p+ imo.

In the meantime, I think SP will steadily build in anticipation, so whether it takes a few weeks or longer is broadly immaterial.

We can post every day that we think it will happen in the next few days if we want too.

Eventually they will sort out the admin as they will want their slice of the pie.

Happy for others to jump back in at 20p+ as once ratification lands I think a revised takeover offer in the region of 39p+ will land almost immediately thereafter

However.......

No one can 100% rule out a cheeky bid coming in AT ANY TIME for say a mere multiple or two of the present SP from either assore, ganfeng or another ahead of ratification.

If that red dot RNS lands, price will gap up massively on open

GLA.

Very Cheap P/E (7) for sector.

SP double from today would still have a P/E below well the sector average.

Must now be firmly on the on the radar for a potential buyout.

I wonder what price the BoD would recommend any offer to shareholders?

> possibly 150-160p range for a suitor to aquire the business.

Or would that still be too low an offer?

Crazy cheap down here atm

Below post courtesy of Omron

"omron: For a bit of fun I thought I would compare the enterprise value (MCap plus debt incl leases) today to the depths of Covid. I have used the debt figures from the AR 2020,2021 and 2024. The share prices were 1/3/20 32.8p and 1/1/21 35.8p, today it closed at 84.5p. The net debt in the FY20 report was 289m and at January 24 was 135.2m. The debt reduction of 153.8m divided by 348m shares gives a 44.2p reduction per share and we have had two dividends 4.5p and 1.2p. If you take all three of these off the closing share price today it gives you an adjusted share price of 34.6p. So Card Factory share price is currently valued in line with the depths of Covid when shops were shut and many believed it would go bust. If that is not crazy I don't know what is. Fill your boots while you can"

On the move atm

Massively undervalued SP at present.

> The Li resource here is 300%+ the size of the lithium resource size over at KOD - (for a simillar m/cap,)

> The perceived delays of government ratification from parliament have now reduced as parliament has reconvened (market sleeping on this news atm imo)

> 2 x previous rejected buy-out offers at 33p / shr from Assore (huge premium to present SP) who are a highly motivated shareholder, continuing to build their share holding.

> v strong mean reversion play from present levels.

> market is likely to see either ratification land, combined with a further bid from assore, gangfeng, other party etc or another (pre ratification) bid leading to an associated SP spike at any time over the coming weeks.

> Every day that ticks by now is closer to ratification / fresh T/O bid and a big big gap up in SP for all holders here.

GLA

Yep,.suddenly moved quickly..

Need to add on rhe lows with these ones.

Likely to present some buying opportunities

Swing trade into next year

Very Cheap P/E (7) for sector (17) , especially given Xmas.trade.ahead.should boost next market update.

Was thinking about a tranche in B&M but crazy Cheap P/E in CARD following massive pull back to below fair value, drop looks overdone.

Scale in over coming weeks and forget.

Another potential powerful mean reversion play.

Going long and strong from here again as:

> The resource size is big... in fact its 300%+ the size of the lithium resource size over at KOD - for a simillar m/cap, the SP at Atlantic lithium is just silly atm.

> The permits etc are all in place and perceived delays of government ratification from parliament have reduced now as parliament has just reconvened (market sleeping on this news)

> 2 x previous buy-out offers at 33p / shr from Assore who is a highly motivated shareholder whp are continuing to build their share holding.

> strong mean reversion play from present levels.

> market is likely to see either ratification land, combined with.further massively improved T/O bid land in excess of 33p/shr or an oppotunistic cheeky bid (pre ratification) leading to an associated SP spike at any time over the coming weeks.

> Even if the above inflection points don't happen imminently, the SP should start to re build in anticipation as every day that ticks by now is closer to ratification and a big gap up in SP.

-

Seen what happened today with ZPHR..

Can see this doing a similar spike or 2 or 3 or 4 out of nowhere over the duration of Q4 into Q1.

Flurry of buys for ZPHR in the past hour

Time & tide

On watch list for entry

Low volumes atm.