Member Info for Professor1

Pk73

You have covered the main points. Big claim is coming.

I think the big players' bid amounts will become PUBLIC SOON. So, let's wait for Mark come up with his move.

I also think that what we have just seen is really no surprise given for years they have been trying to frustrate our licence. I did mention that in one particular court hearing, tmit was recorded that they were willing to consider to have a majority JV

My guess is MB is sitting down with our lawyers preparing the claim amount which I think will be very big.

The six month timeframe that was mentioned earlier might even be brought forward.

It is basically as if the GOI or GOR were a JV partner with 65% stake as a sleeping partner. Would it be correct?

This defo looks like a fix, broad daylight robbery.

1) HOWEVER, I STRONGLY BELIEVE THAT THIS NOW MAKES OUR CASE AT ARBITRATION ABSOLUTELY ROCK SOLID.

2) WAIT WHEN WE HEAR ABOUT THE AMOUNTS BID BY OTHER COMPANIES, WHICH CANNOT BE FAR OFF IN VALUE BASED ON THE ROYALTIES ANNOUNCED

3) WE CAN NOW FIGURE OUT WHAT OUR BASE VALUE CAN BE BASED ON THE ROYALTY.

4) PERSONALLY, I THINK THERE WILL BE AT LEAST 10 MILLION OUNCES HERE IF NOT MORE

5) SURELY THE OTHER BIDDERS WOULD INCLUDE THOSE COMPANIES THAT ARE ALREADY FAMOUS IN WORLD STAGE AND YET THEY WERE NOT AWARDED - WOULD THE ARBITRATION TRIBUNAL NOT SMELL BIG RAT HERE

6) I WAS ALWAYS MAKING ASSERTION THAT OUR CLAIM VALUE COULD BE AROUND $2 BILLION. IT HAS NOW DAWNED ON ME THAT I WILL HAVE TO UP THIS MAYBE SEVERAL FOLDS

Really want to dig more into this co's connections

And, in its latest 9 months financial statement, it shows a PBT of just £1m.

Look at Research360.in on the risks attaching to this company

JUST FOUND THIS DETAIL on VALUERESEARCH ONLINE SITE and copied below

"Financial Manipulation

Can creative accounting be detected through the financial numbers?

Modified C-Score

5 (Maybe)"

The company was only recently IPO'd in Feb 2024, at price band rupees 83 to rupees 87 which is £0.83 to £0.87. On the trading day, it opens at Rs 250 (£2.50). Today its at Rs 1,428 (£14.28), a mere 4 months later. Its trading at Price/book of 37 (Peer median is 3)

Return on equity is = -22%

P/E ratio =167

Indeed Pk.

MB knows a lot more of what's going on in India and all will be revealed soon to us.

THIS AUCTION AWARD COULD BE A SHAM BY THE INDIAN GOVT AND HENCE, THE PRICE. THEREFORE CANNOT BE RELIED UPON. WHAT INTERNATIONAL ARBITRATION WILL CONSIDER IS THE LOST FV OF NPV IF WE HAD THE LICENSE

Just seen that video interview. Monday, a lot of my profit from Asts Inc is coming here for sure.

GLA

Topped up at this price. Enormous prospects.

Sorry late response to the remainder points:

4) (A) Will the auction selling price have any bearing on the our claim size AND (B) do we have any fair value in mind and (C) will FV be included in the claim letter

-First of all, there are no foreign bidders and there is a good reason for this. How can one be sure if the bidding process is a fair one or not? Have equal access to all the documentation been provided to all the bidders? Transparency issues. Hence, very difficult that the auction price will have a bearing on the CLAIM SIZE (more on this below).

-There is a SEPARATE PROCESS regarding submitting a STATEMENT OF CLAIM which PAT is currently working on BUT is at least 6 months away FOR GOOD REASONS. The figure in this statement will be the only number that counts.

-AND, we do not want to state a figure in the Arbitration Notice only to find that it is different from the figure that gets finalised for this STATEMENT OF CLAIM. This will undermine our credibility

-The government auction is a long process (and an unreliable one) and is not expected to be completed any time soon.

5) Coming back to Kalaka, in case if anyone wants to look at a comparable mine, in terms of grading of grams per tonne, the one to check out according to MB is YANACOCHA owned by Newmont. In the case of Kalaka, for the area where the so called low grading is, the start and the end of the zones can be identified. However, there are other very wide zones with much higher grading where they cannot YET see where the starting point is and where they end.

GLA

My apologies, am running late. So catch up in the evening with the rest of the points

In no particular order:

1) Cash raised - are we going to use some towards North Kalaka?

-Only very little. The goal is to be cash flow positive. There will be an update on the progress on the restructuring of the West Africa assets in the course of next few weeks.

2) Any planning on the Shareholder presentation any time soon? / Near term drivers

-a) There is going to be something released next Monday

-b) There will also be release of the information on activities in the next two weeks - AT LEAST AN RNS

3) How long will it be before we give GOI a Notice of Arbitration?

-We are read, legally, to issue one. ONLY MB is holding it up due to PERIOD OF ENGAGEMENT. So it is the judgement of MB when to exercise it. The moment he feels that this is now going to be a waste of his time then the notice will be issued immediately.

4) Will the auction selling price have any bearing on the our claim size AND (B) do we have any fair value in mind and (C) will FV be included in the claim letter

[NEED TO RUSH NOW SO WILL WRITE AT LUNCH]

Good morning everyone and all very good points

Will do a summary of what Mark mentioned yesterday as soon as I am free later today - all good in my view

Hi Pk

I will be this afternoon. But, someone sold ahead of the placing and don't know who. In fact I wanted to buy more but as I mentioned but could not

Pk

Waiting for MB to confirm he is free

Thanks Pk73

@ejt7777

Will surely ask and convey here anything else he has to say