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This company is ludicrously undervalued. The question is what will be the catalyst for a re-rate? The green light from Harmony, submission of the mining application, approval of the mining application, a sale or JV on the US projects, drill results from elsewhere in the SA portfolio, etc…the list goes on. At some point the market will wake up and long term investors such as myself will be rewarded handsomely…I am 100% convinced of it.

Fantastic news and the much overdue re-rate of the company should now start taking place. Very exciting times for investors.

Until there is meaningful news on the Jelani project then the share price will not change much. News on that project must be coming relatively soon - max next 2 months I would have thought.

I wouldn’t worry about it too much - the price change has happened on tiny trading volumes, so basically meaningless.

Totally agree Dibs61 - in addition to what you have set out, would the institutional US investors who have just participated in the equity raise done so on the basis of a binary bet? Of course not, not to mention other shareholders and board members.

There are a lot of tiny trades today - does anyone have an idea why?

Excellent presentation and this company clearly has a huge amount of potential. Just a question of time until the share price reflects this IMHO.

As it turns out I think my comments on the appointment of Marex were reasonably accurate. I think over the coming weeks and months we will see a lot more interest in this share as Marex raises LEX’s profile with institutional investors.

He is certainly right with LEX - the investment case is just so convincing IMHO.

On the basis of 85USD that would still be around 20MGBP - so just over the current market cap. Then we have the Jelani monster and other SA opportunities. Without trying to ramp the share price it’s now very obvious that this company is massively undervalued, hence the significant support shown today by key shareholders. Would they commit such capital if they didn’t have a strong belief in the company?

Excellent news this morning…as well as an increased JORC, very strong shareholder backing to support the company’s initiatives. This is looking very good and I’ll be amazed if the share price does not start moving materially upwards now.

We will get there Dibs51, I’m confident of that. I believe the lack of an uplift in share price - despite the doubling in the value of gold - is due to the lack of communication and promotion by the company. I had hoped that might change with the addition of Mr Greenwood to the board but unfortunately that hasn’t made any difference to date. There’s doubtless a huge amount of work going on in the background and one day, hopefully in the next few weeks, we’ll wake up to some significant news on the Jelani project, which will lead to the share price multiplying.

Although the gold price should make a difference to the share price in reality I don’t think it will for now. It should however lead to a better deal with Harmony who will presumably buy LEX’s share of the Jelani JV. Similarly the sale of LEX’s assets in the US should also be positively influenced by the price of gold. This just further demonstrates that the market has not woken up to LEX yet. When it does wake up then surely the share price will explode.

I agree Sjh1, the communication does need to improve. As much as I believe the company will deliver, it would be reassuring to have more news on progress etc

Excellent news and just further evidence that CMRS is a very exciting prospect indeed.

I’m also a LTH and have consistently been topping up over the last year or so. News must be due on the Jelani JV in Q1 2026 and all being well this should lead to a significant re-rate. We also have the prospect of news on the sale of our US assets and again this should positively impact the share price. 2026 could be a monumental year for LEX. GLA.

According to the 2024 accounts his salary was 135k which I don’t think is unreasonable.

Do we think we will have some news regarding Jelani before Christmas or is it looking like a piece of news for the New Year now? Must be reasonably soon surely.

More encouraging news:

“Our geos found a second copper mineralised intrusion yesterday, fantastic news.

We have two legitimate targets now - sedimentary and intrusive (rhyolite)

Very early days, on a large project, but two targets adds value and reduces risk.”

This is looking more and more like a company with great potential.

The appointment of Marex could quite possibly be a pre-cursor to significant developments being announced over the coming weeks and months. With news on progress with the Jelani JV surely fairly imminent, is the appointment of Malex aimed at generating interest with institutional investors to increase demand for the shares when that news hits? Exiting times for shareholders on the near horizon I would say.