Member Info for RMc2407

We've had a big holder exiting and another buying.

Watch for a break above 0.15. That's the next step up.

Some more of Colin's holiday snaps.

https://x.com/ColinBirdMining/status/2069788173543023033

The shovels have arrived.

Yes, there's definitely a common oink.

I think the slow and steady rise idea has bitten the dust.

Link here. Bezant from 04:38.

https://www.youtube.com/watch?v=UIjC1sJvOxs

I'll listen later. Probably best if our new friend gives it a miss.

Myfirstmillion - You're so mired in confirmation bias that you can't even read properly.

Go back and read my last paragraph. Properly this time. All of the words.

Understand now?

I didn't expect any sustained increase in the SP once the finance was announced and that's proved to be the case.

With the advance in the last week it was clear that it had already been priced in.

There's de-risking with the announcement but also more dilution. Not a catastrophic amount on its own but added to the existing situation and with the warrants, it makes Bezant a less attractive proposition. It's a better deal for Hartree than it is for Bezant. On the other hand Hartee isn't some micky mouse operation. It's a good choice of finance partner.

At the time of writing 400 million shares have been traded, three times the average with zero advance on the share price. From a price action point of view, that points to a reverse in the short term. With that in mind I've reduced my holding. I still own a decent amount of shares, but taking profits seems sensible to me.

What was I saying?

Oh, yes.

"I don't expect a sustained increase in the SP if the funding is announced.

There will probably be a spike (good time to sell a few) but it'll soon fizzle out.

Best chance of a steady rise is the concentrate being delivered but I expect a placing before then."

I thought the spike would last longer than thirty seconds.

Hartree Metals LLC is a global base‑ and precious‑metals concentrates trading and financing company, backed by two major commodity‑finance players:

Hartree Partners and Oaktree Capital Management. It operates across multiple continents and positions itself as a partner for miners, smelters, refiners, and industrial buyers.

What Hartree Metals LLC Does

Metals Concentrate Trading — Specialises in copper, gold, and other base/precious metal concentrates, providing market access and logistics support.

Project & Trade Financing — Offers tailored financing structures for mining and metals projects, leveraging the capital strength of Hartree Partners and Oaktree.

Risk Management — Provides hedging, price‑risk solutions, and market intelligence across the metals supply chain.

Business Development — Works with mining companies to structure offtake agreements, logistics, and long‑term supply partnerships.

Global Footprint

Hartree Metals operates internationally with activity across Africa, Australia, Canada, Chile, China, India, Mexico, Peru, Turkey, and the USA.

This global presence allows them to source, blend, store, and transport concentrates efficiently.

Corporate Positioning

Hartree Metals emphasises:

Transparency and reliability in trading relationships

Environmental and social responsibility, including ESG‑aligned sourcing

Support for the energy transition by supplying critical metals used in batteries and renewable technologies

Related Entity: Hartree Metallia (Steel Trading)

Search results also surface Hartree Metallia, LLC, a steel merchant subsidiary of Hartree Partners, based in New York and London. It focuses on steel sourcing, logistics, and trade finance.

This is a separate division within the Hartree group, not the same as Hartree Metals LLC, but part of the broader metals‑focused ecosystem.

Summary

Hartree Metals LLC is best understood as a major global trader and financier of metal concentrates, backed by heavyweight commodity‑finance institutions and active across the full supply chain. Its role is particularly relevant to companies in mining, smelting, and critical‑minerals markets.

Looking pretty grim.

Big fall on big volume. The more speculative stocks are getting hammered more than the others, and this falls into that category.

I've trimmed my holding still further. Buying at this level is daft.

I don't expect a sustained increase in the SP if the funding is announced (and it's definitely if and not when.)

There will probably be a spike (good time to sell a few) but it'll soon fizzle out.

Best chance of a steady rise is the concentrate being delivered but I expect a placing before then.

I don't expect a sustained increase in the SP if the funding is announced (and it's definitely if and not when.)

There will probably be a spike (good time to sell a few) but it'll soon fizzle out.

Best chance of a steady rise is the concentrate being delivered but I expect a placing before then.

Harry the Hungry Hippo.

Has a ring to it.

Market clearly agrees.

News received with absolute indifference.

Don't think I'd take much notice of what the Roasties say. It sounded like the wishful thinking we get on here.

I do take notice of the share price. It's been held in a range for a while but the current mid price is 0.115. That's the highest it's been since March and there's supporting volume.

With his Directors' fees and salary and consulting fees, Colin will be crying all the way to the bank.

According to the last available accounts this was £60,000. Plus £9,506 in share based payment share options.

Not a massive amount in corporate terms, but it's money that retail investors won't get. Easier to have skin in the game when you're creaming off a steady income.

The next accounts are due around the end of the month. But these won't show the current spend. With the level of activity we must be burning through cash. That's the major concern now.

What's the cash at bank situation?

What's the intention regarding the remaining Blackstone shares?

Is another raise necessary to keep the lights on?

It's been nearly two months since any RNS. That doesn't inspire confidence.

Of course it may be that announcements are being held back and we'll get one mega RNS that ties up all the loose ends. Analysing recent trades, it's clear that the SP is being held in a narrow range with accumulation going on. That's a good sign, but it tests the patience.

It was better when we talked about the road. The nice, great road.

The roadiest road in road history.

· The prepayment facility is structured as a senior secured facility made available in tranches totalling up to USD 7 million. An initial advance of USD 3 million is expected to be made at closing, with the balance of up to USD 4 million to be disbursed at agreed intervals prior to commissioning, subject to satisfaction of agreed drawdown conditions.

RNS 31st October

Two months since due diligence completed. Seven months since the original announcement.

Has he got people with learning difficulties doing the documentation?

A reminder of the relevant RNS details

31 October 2025 - Original announcement.

Bezant Resources ("Bezant" or the "Company") is pleased to inform shareholders that it has entered into binding term documentation for a conditional prepayment facility of up to USD 7 million and an associated concentrate offtake agreement with a globally recognised commodities trading company (the "Financier"), to support the development of the Hope and Gorob copper project in Namibia ("Financing and Offtake Agreements").

· The Financing and Offtake Agreements are subject to completion of the acquisition of a 90% shareholding in Namib Lead and Zinc Mining (Proprietary) Limited ("NLZM") (as announced by the Company on 14 August 2025), customary closing (including completion of standard final due diligence) and execution of full-form definitive agreements. The Financier will be named when the full form definitive agreements are signed.

· The prepayment facility is structured as a senior secured facility made available in tranches totalling up to USD 7 million. An initial advance of USD 3 million is expected to be made at closing, with the balance of up to USD 4 million to be disbursed at agreed intervals prior to commissioning, subject to satisfaction of agreed drawdown conditions.

· The prepayment facility has been agreed in parallel with a life of mine 100% concentrate offtake agreement on competitive rates and terms customary for a project of this type and scale.

30th March 2026 - Due Diligence completed.

Financing: Further to the announcement of 31 October 2025 the financier has completed their technical and financial due diligence in relation to providing a US$7M financing facility for the Hope & Gorob project and we are now in the advanced stages in relation to the financing documentation, which we anticipate completing over the coming weeks.

That did occur to me PJ.

It's the bigliest road ever built for a copper mine.