Member Info for SeisNav

Thanks for the update Small Holding, it's hugely frustrating that a chancer like Mushinge can derail what should have been a fantastic opportunity to prove the value in the licenses. Personally I hope Arc sue him for everything he's got, including the licenses he was given in the settlement agreement. I don't doubt there are other companies waiting in the wings for the court cases to be settled.

I hope that with Remy replacing NvS we might see a lot more public shareholder engagement. Whatever you think of NvS, his approach to dealing with investors has not been well received and a change is probably well overdue.

I unfiltered Harmprof to see what he's going on about today... he seems to be accusing the FD of disclosing price sensitive information to individual shareholders via email! Amazing what people think they can get away with hiding behind a keyboard.

Northman, the details are in yesterdays RNS or page 52 of the Annual Report but in short they should receive another US$10m on completion of the deal with further annual payments to follow after that.

Bobbill, SLP have life of mine contracts with Samancor for RoM and tailings dumps I believe, as well as owning their own exploration licenses. They got into the business before Jubilee did and sewed up alot of those long term opportunities. They also have the advantage of a big pile of cash so they don't necessarily need to take out debt to fund any other RoM purchases like Jubilee do. Thats the big difference I think, Jubilee were relying on more short term contracts and as we have seen they can quickly disappear. That's why it's so important to secure our own resource base in Zambia, so we don't end up making the same mistakes.

Thanks Eagle, I'll have a look through the report over the next few days when I get the chance.

The plan for the module at Molefe, as far as I understand it, is to first concentrate the low grade waste piles and then use some form of leaching (acid or glycine?) to create a high grade liquid concentrate before using a precipitant to create a high grade solid concentrate. That means much less material being transported to Sable and consequently lower transport costs.

For the Large Waste Project I don't know if the leaching and precipitation is planned, if the plan to partner with a local refinery it might be cheaper just to concentrate the waste and then truck it. I don't know if that is the plan though.

I think "module" is just a generic term, meant to imply that it can be replicated multiple times instead of having one big centralised plant. It is confusing though and we could certainly use a bit more detail on what each one is designed to do. Also you need to know what average grade the output capacity of the module is based on.

As I've said previously, once the sale is finalised, I would hope to see a completely refreshed website with details about each of the three pillars in the overall strategy. Lets see what we actually get!

Do you have any concept of how few exploration projects actually come to fruition Pandy? The answer is very few. Tertiary had one ready to go in Storuman but through no fault of their own the mining license was revoked. They now have a very good possibility of another project coming to fruition and yet you seem totally indifferent to it. Only popping up when the SP dips to spout some negative guff. It's noticeable that you don't show your face when the SP rises... only when it falls.

"Seis, I memtion this before.. at the time we were unsure exactly what it meant but seems like the copper produced by leaching will add an additional 320tons per month when all phases are completed.

"Molefe Mine is targeted for the end of Q4 FY2026 and offers an increase in copper units of a further 120tpm to reach 320tpm (3 840tpa) prior to any further expansion of the mining operations""

Yes that makes sense HD, so I was right in thinking that the initial output is expected to be 120 tpm. Leon did mention that it could be executed in phases so the final capacity once the build is complete should be around 320 tpm. The question is, what's the timeframe for that full expansion?

Just popped in to mention prospect resources (yet again) eh MetalTailed? Sorry must have been a slip of the tongue, I meant BushyTrade.

Gotreal, yes I know what it says on the website but specifically for the Molefe module I'm sure they quoted 120 tpm in a recent RNS... I'll have to search back for it later.

One thing that confused me is that he said the module planned for Molefe would produce 4,000-4,500 tonnes of copper / year which is way more than I was expecting. I thought it was 120 tpm or 1,440 tonnes / year. I'm sure that was what was in the RNS. It would be great if that is the case.

HD, yes I had it starting to ramp up in Q1 FY27 but I don't know if that is start of construction he's talking about or start of production. It sounds like it should come online sometime in Q1 as far as I can understand.

I guess Chat GPT can't take into account royalty payments and additional payments for production exceeding 1.5 Mt of chrome and 36,000 oz of PGM's. The deferred payments as listed in the RNS are actually US$15m on the first anniversary with a total of US$35m future payments in US$10m+ in annual instalments (ie, 4.5 years in total, not 6 years as stated). The remainder being US$12-15m in royalty payments based on US$3.5 per tonne of chrome concentrate, payable annually (eg, 1.5 Mt of chrome / annum would yield an additional US$5.25m in royalties / annum).

If you are going to challenge the FD of the company at least get the basic facts right!

Https://podcasts.apple.com/gb/podcast/the-sunday-roast/id1593750832?i=1000741665867

Do you use the standard derampers handbook Boring?

Always start a new thread with a negative slant on the company ✅

Make lots of claims which you have no evidence for ✅

Avoid answering anyone who questions you ✅

Claim to be a long term shareholder but just happen to have created a new account recently ✅

I'm not so sure about the front end not working in the wet thing, they weren't using it before the rains started so why would they do that? Another possibility is that they have a source of material in mind for the DMS but road transport isn't possible in the rainy season. Not saying that's the case but there are other possibilities.

Papaki, you seem to be forgetting that we have lost one of the main chrome contracts and likely to loose the other one with the same company in a years time. It's all very well PGM's going up but if you loose your feed material then how are you going to keep producing PGM's? Unless they can replace the chrome contracts then the PGM price is largely irrelevant. They can process some of the Thutse material through the JV but unless they ship the rest to Inyoni about 130km away then I don't see what else they can do.

You make a lot of claims Boring but you seem to lack any actual evidence. Is that possibly because you don't have any?

Have you turned American Boring? Y'all?

There's no doubt that Mushima North is our best opportunity right now to see a very significant boost in share price. There's never been a better time to be developing a shallow copper / silver project, with both copper and silver prices flying right now. Hopefully the next set of assays will show similar grades of silver or better compared to what we've already seen. They were quoting a turnaround time for assays of 4-6 weeks and it's now 4 weeks since they announced the drilling had stopped due to the rains. Will we get someone coming in for a JV before the next drilling season? Possibly. Also it's worth baring in mind that the current target is just the first one to be drilled, there are others still to be looked at so a JV partner is the obvious way to get things moving quickly.

Konkola West with KoBold Metals is fully funded and they have seen enough from the two deep drills already completed to commit to more drilling.

The JV with FQM at Mukai is still in place, they didn't do any drilling last season because they had already reached the minimum requirement under the terms of the JV but if they want to keep the JV active they need to spend more money next season.

Mupala, which is wholly owned by Tertiary, is an interesting one. They did a soil sampling program and identified a significant copper anomaly which is a few km along strike from where Anglo American found thick copper oxides and sulphides on the JV with Arc Minerals. I was hoping that Anglo might want to secure the Mupala license but they have since pulled out of the JV due to the malicious actions of a former Arc director who was using the courts to prevent drilling during the dry season. Interestingly, Barrick has secured a license adjacent to Mupala in conjunction with the Zambian government so thats another possibility for a JV.

Jacks Project hasn't seen any activity for quite a while, without the funds to progress it, I would hope they can secure a JV this year to get things moving there.

The Storuman Fluorspar project is an outside chance of getting approval, I think in all likelihood it will get turned down again but if it should get approved it will be massive for the company and the share price.

They are also looking at possible JV's on the licenses in Nevada... could be a left field one that nobody is expecting.

In short, as the thread title says, lots of potential!