Member Info for rosetintedspecs

Well well, miracles never cease! Our fave left over gold stock is showing signs of life!! I would make the following observations.

1) Stock has been moving on decent volume last 3 days post the interview with Greenwood.

2) We've broken through the resistance it seems at 4.2p, let's hope for follow through!!

3) Greenwood seems to have stirred up a hornet's nest re valuations of US assets, but as he says, they pale into insignificance compared to the potential of what LEX has in South Africa.

4) Have to say that the idea of $100/oz is a bit rich, even though the asset is very close to surface

5) However, even a 212K oz JORC, assuming it can be converted into measured, is worth $860mn at current prices,

6) A cheap heap leach operation with activated carbon recovery process is very cheap to set up, probably less than 30mn bucks, and that would include an allowance for further drilling to upgrade the resource and maybe add to it!

7) Trump has seen the light when it comes to mining, we may hate him for most things, but forcing people to mine on the cheap in dangerous places like the Congo is a joke rather than using domestic assets and creating good, clean, safe jobs at home rather than exporting them. China's control of Rare Earths is a very valuable lesson in this regard.

8) The Carolinas are good jurisdictions for getting things moving mining wise in the USA, and things have got better re permitting since Trump was elected.

9) We are sitting on a number of potential monsters in South Africa! With Kroonstad being the Queen with potential for up to 60mn oz of what appears to be shallow gold, and we have just picked up more acreage there recently, the concession is MASSIVE!!

10) And then we still have the Harmony Jelani JV with its 6.05mn ozs and a pre feasibility study which should be very near completion!

11) As has been noted here and by Greenwood in his chat, ALL the infra is in place though it needs to be refurbed!

12) I find it near impossible that Harmony would want to do a JV with a minnow like LEX, its almost a foregone conclusion as far as I am concerned, that they will try to buy us out!

13) And its likely they will be announcing an application for a mining license on the back of the study!

It doesn't take a genius to work out that if the potential riches from these sales come in, well, we have a great piggy bank to start the drilling campaign to end all drilling campaigns in South Africa. We are living in exciting times for LEX and, to me at least, it seems that my patience and that of most of us here, is just about to be rewarded.

I'd still be filling my boots!!!

Pressed post by mistake ... But since it seems we are breaking the resistance at 4.2. Let's hope for some follow through buying.. and a last trade at around the 4.4 level.

I agree that Greenwood seems to thing that a pivot away from the USA is where the money is seems to be obvious. He's probably right too. There is a market for small gold properties in the USA. After all, it won't cost much more than 1300 per Oz to process, of that, sliding heap leach methods. The gold is on the surface. 220k Oz are worth over USD850mn at these prices. Not a bad mark up!

But what he said about the Jelani JV and the 6+mm Oz of JORC there on a JV with Harmony gold where most of the infra is already in place struck a chord with me! And then there's Kroonstadt 60mn Oz potential..

Mindblowing!! We seem to have a bit of momentum right now. If we break the resistance at 4.2p

My broker just called me and mentioned that stock he bought on early August has not settled. Stock not delivered. Looks like the market is short! Squeeze please Louise!

600k tons of rare earths sorry. Compare with others in the ionic clays space and you will see what they have. A steal.

U take a look at the resource they have670mn tons with 600k tonnes of ionic clay, cheap to extract rare earth's, this is still DIRT CHEAP STOCK

Now that the drilling has probably finished at Jennings Pioneer in South Carolina, let's look at what may well be in store for LEXheads over the next couple of months or so re announcements. I’ve been checking the RNS’s released since the acquisition of White Rivers blessed LEX with huge upside. News about the following could be on the cards:-

1) Jennings Pioneer drilling campaign is only 600m or so and it commenced in May, it should be complete by now. We can expect an update in the near future confirming that drilling is completed and samples logged and dispatched for assay. Given what we saw from the 2024 campaign, Iwe can be confident we will see further extensions of the Barite and Jennings Trends.

2) Bothaville concessions: LEX awaits the final results of the renewal application at its two Bothaville concessions covering 18,500 hectares. Be good to see these in the bag given the sassy exploration targets recently released to the market

3) Kroonstadt concessions: Applications to renew existing concessions and receive new concession which had been applied for in addition to the two which are hopefully being renewed. This is the concession which could constitute a new goldfield containing 30 to 90mn oz. Exciting!!

4) Jelani JV with Harmony at Target Mine: The Scoping study for mining plans and assessing the infrastructure already in place at the Target mine for use by the Jelani JV is ongoing and should soon be complete. When the study, being conducted by Barra Consulting, was announced in March, it was estimated that 3 months would be required for the work to be completed. We should be getting close by now. This will give a very clear idea as to the feasibility of the mine or otherwise. The JV, which has 6.05mn oz in JORC approved form, may also be able not just to use the infrastructure in place at the target mine, but it is possible that Harmony itself my have an exploitable reserve nearby which could come into play when a final decision to mine is made.

5) Decision to Mine Jelani? After the Barra Report comes out, hopefully next month sometime, the JV BOD will consider it. Regardless of this, a full-on feasibility study will still need to be completed to take it to a financeable status. However, it is likely that a decision to apply for a mining license will be taken even before a final decision to mine takes place. This would allow management to get operations in place faster than waiting for the result of a mining application AFTER the full feasibility study is completed. If a mining license application is on the cards, it will give the investing public a very clear idea as to the feasibility and viability of the Jelani Project and whether it will go ahead or not.

6) Assay results from Jennings Pioneer drilling campaign. The labs are fully open for business, we should be able to expect results by late August

This is a really sexy pipeline of potential RNSs. AIM, AQUIS show signs of life!! I'm not going to miss the boat.

My understanding was that LEX has renewal applications in and also new applications in to take the Kroonstadt licenses over if the renewal is not forthcoming. One way or another it looks like we will get to where we need to be..... In the meantime in SA, we have the new exploration target at Bothaville, the talks over Ventersburg potential JV, and the on going pre-feasibility study at the Jelani JV by Barra. Lots to look forward to. I am still picking it up too..... as I have been for 4 years......

Couldn't have said it better myself, though the elephant in the room, or even blue whale is Kronstadt. An exploration target for 31mn Oz has been drawn up based on known previous drilling by Anglo American among others. And the thing is, It's SHALLOW. Unless the geologists employed by the previous owners of White rivers were bribed or were smoking some serious stuff, people seem to gloss this one over. But as CEO Bernard said yesterday, all the renewals l/new license applications are in place. This really is something to watch..

MMs always mark a stock down when they see capital raising coming because they are afraid of losses on their book. Unfortunately, the reverse does not apply, however, seeking stock at a premium, as LEX always does, is good for sentiment and perception.

It never ceases to amaze me that this stock just gets ignored by the market. OK, we all know that small caps and junior miners generally are not having a very nice time, especially so if you are listed on AIM!! However, this news is just too good to ignore!! Here we have one of the most successful prospectors in the world, who entrusted his South African assets to LEX, (who's management, in turn, have form in creating value in the Witwatersrand), taking up stock at nearly twice the market price and is committed to taking more? Not only that, at the time of the asset injection, he also took an option out to pick up another 10% or so I think at the same price, 6.2p in CASH. Surely, but surely, if Mark Creasy no less, thinks there is value in LEX at 6.2p, who, or what, is the market doing by totally ignoring his opinion?

And this forgets the fact(s) that LEX has

1) A six million oz JORC in a JV with one of the biggest gold miners in the world, on which it is completing pre feasibility and costing work in an already operating mine

2) Is talking to its Venterburg neighbours about a JV there (Sibanye Stillwater and Gold One) about creating a single entity with up to 10mn oz of proven reserves?

3) Has an exploration target of up to 5.8mn oz at its Bothaville concession

4) Is firming up another USA asset next door to a previously operating gold mine, Barite Hill, where structural extensions into LEX property are already proven on LEX's Jennings Pioneer concession.

Talk about banging one's head against a brick wall.... Ah well, I am still happily picking up stock when I find $$$$ in the back of Granny's sofa more fool the market!! Those who hang in there are set for a great pay day!

Why is it a risk? Tantalus is broke! The fact that pre listing shareholders get rewarded for an increase in the Ampasindawa project to over 90%seems to indicate they are pretty confident they can pull it off.

The stock really stacks up as a value play on ionic rare earths. A return to 3p a share will be just the beginning.

Have to say that the suicidal loonies who were selling yesterday may regret their action today. The Jennings Pioneer property where drilling will take place, bang slap next door to the old Barite Hill mine, is a real prospect.. The old mine produced 50k oz of gold in the early 90s and only shut because the the price of gold collapsed.. I'm sure the USA government, especially under this administration will be desperate to dispose of it ASAP! However, LEX has already proved the same structure extends into the LEX concession and this drilling will go on to prove that it extends even further. Who knows, we may even get a JORCreserve out of it.

And amid all this, we have talks about a JV with Gold one at the Ventersurg concession in south Africa, ongoing developments at the Jelani JV with Harmony Gold.. Etc etc.

One day the market will wake up. In the meantime, it doesn't take a rocket scientist to work out that at these prices, one should be filling one's proverbial boots!!

There had always been a worry that the holders of stock gained by the conversion into equity of the golf bonds on listing would like to sell, we'll at least some of them would. I'm pretty sure that this is why the Market Makers whacked the stock down to 1.5p within days of listing! Now that we have a specialist junior miner investor in place, HREE is in a much better place to move higher.. This is a really cheap ionic Clay's Rare Earth play.

Looking forward to seeing it move much higher!!

Seems that the principal shareholders must be loaded and in for the long term... They just keep rolling up and parting with the cash, with or without warrants, without discounts to Mkt price to raise money. They obviously believe that something is afoot that the Mkt just doesn't understand.

Surely, people shd start to realise that this behavior, in the current Mkt context, highly unusual and probably a harbinger of exceptional performance.

How do these guys do it? When all the junior miners and exploration outfits a lucky to get a raise of any sort away, or if they do, at a hell of a discount, LEX manages to attract takers for new stock at the offer price of 3.4p, effectively a premium. I also note that based on the figures released, that 80% of the shares were placed by the company as a direct subscription, it indicates that all the major shareholders, including Mark Creasy of Yandal, have taken up most of the offering. Obviously a very supportive bunch.

They now have a broker, Optiva, and seem to indicate it is a joint deal, not sure who the other broker is. But the RNS also highlights continued moves to push the Jelani JV with Harmony forward and the potential co-operation with Gold ONe at Ventersburg. Perhaps having a new broker(s?) on board will finally hit the market and start the move upward that LEX so richly deserves.

Yes, saw this yesterday. The grades here are much higher than the published ones, so it looks like there is loads more upside here in terms of upgrading the resource size. The other thing is that from a cash flow standpoint, it is worth mentioning that Harena can pick and choose where it takes its raw material from, focusing on the areas which are richest and therefore have the lowest cost of production. This is a great asset, totally undervalued currently by the market.

https://www.**********.co.uk/articles/harena-resources-all-set-to-become-london-s-only-listed-ionic-clay-rare-earths-company-226d211/

Madagascar is a user friendly jurisdiction. Rio Tinto and others are already there. They already have a take off agreement. What's not to like?

Here is the RNS

https://www.londonstockexchange.com/news-article/LEX/update-re-jelani-resources-jv-project-s-africa/16942730

and some coverage in the Trade Press

https://www.miningweekly.com/article/updated-study-on-jelani-resources-project-under-way-2025-03-17

Should the market be really so disinterested?