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Well if it was FIL then hopefully they will be good enough to notify the company so they can issue the TR-1, otherwise we are left to speculate.

Edzi, I'm not arrogant, I just find it frustrating when people (like yourself) post that it's obvious that investors have lost faith in the company when the evidence is pointing to the opposite! We know FIL were selling down because they were closing the fund (or funds) that JLP were held in. If they continued to sell at roughly the same rate then they would have sold the lot by about now. Yess it's possible they dumped the last of their holding but it's not the only possibility.

It's possible that was FIL clearing out the last of their holding, it's not uncommon for that to happen when a fund is close to being out... sadly I've seen it too often recently!

No there's no indication on timing. Best to keep the traders guessing!

Here's an updated graph showing the major shareholdings as far as we know them: https://tinyurl.com/47jdax76

If Fidelity (FIL) intended to sell out completely then you can see that at the rate they were selling (taking into account the seasonal holidays) they would be just about out now. Canaccord has been slowly reducing their position, we don't know how much more they plan to sell. As you can see, the likes of Hargreaves Lansdown, Interactive Investor and Halifax, which hold retail buyers are all steadily increasing, which is why I'd rather look at hard evidence than lazy speculation that often shows up on these boards, such as "shareholders have lost faith!" etc. etc.

There was a semi-commercial glycine heap leach trial planned to commence at Roan this month. I guess we have to wait for the interim financials before we hear anything on that though, hopefully around the end of this month.

It should also be noted that as well as producing copper faster, the energy and other costs should be significantly lower per tonne, so (in theory at least) there should be a higher margin.

Dubliner, there’s usually a weekly update on ferroalloy.net but the Tharissa website has a nice graph of chrome prices updated weekly

The latest chrome concentrate price is up too at US$230-250 / tonne.

Nice.

If nobody is buying then why is retail investment from all the major platforms going up month after month? Some people talk out of their rear end on this site too much. We know why the price is depressed, institutional selling has hammered it. Why make up your own version of the truth?

Https://www.miningweekly.com/article/south-africas-mining-output-down-24-yy-in-december-2025-02-13

Maybe the low price of the PGM basket is starting to bite?

Are those Sentinel numbers from the Kiwara assays, before FQM got involved?

Looking at recent satellite images I don't see any evidence of more drilling in Botswana. I think they would want to assess the data first before further drilling, maybe even look to get a JV partner involved to do the drilling for them.

I noticed Anglo are using the ALS lab in Ndola, Zambia for the assays. Hopefully quicker than getting them shipped to South Africa for assay.

From the Ferroalloy website today: "Recently, the spot prices of chrome ore at the port and the future cargoes prices of South Africa chrome ore continue to increase...". We might see a strong second half to the year with from chrome with Thutse 2 and 3 now fully ramped up and prices moving in the right direction.

We could do with some intercepts like Prospect Resources have, down to the South East of Sentinel... 196m @ 0.45% Cu sulphides... I bet thats got a few of the big boys interested!

"Most AIM companies"

I'm not interested in most AIM companies Pandy, I'm interested in this one! I invested because they have amassed a number of projects in key locations with good prospects and because they have the potential to rocket in share price should one of the projects deliver. Is any of that guaranteed? No, of course it isn't. That's the chance you take for a potential big return. At some point you have to take responsibility for your own investment decisions, blaming the company because the exploration project failed to deliver what was hoped for is just daft. You took a gamble, sometimes it pays off but most times it doesn't.

“ The company has a variety of assets which it can and should use to fund day to day expenses”

I’m curious to know what those variety of assets would be? Apart from cash raised during the year I don’t see any other significant source of funds unless you are talking about selling one or more of the licenses?

Good to see the price quoted this week has gone up to US$220-230 / tonne.

Leon said something a while back which I thought a bit unusual at the time... he said the Waste project is so big there's plenty of room for more than one operator (I don't remember the words exactly). Maybe they are looking to have more than one partner on the project? Especially with them already having paid off half of the cost of the dumps... maybe they want to own it outright and just partner on the equipment?

Https://youtu.be/b4dFPIXEgXk?si=HXAOkX5fTvjy9_1i

Just noticed this, which is the official signing of the 27MW solar plant to supplement the hydro power that Lunsemfwa are already supplying to Jubilee.