Member Info for Sufc100

Shot up 23% to .97 GBp/thm. Along with increased output looking better for Angus.

Bert has attended the conference and it is very likely that government representatives from Mali attended the 2026 Cape Town conference (Mining Indaba).

Mining Indaba is the largest mining investment conference in Africa, and Mali is:

One of Africa’s top gold‑producing nations

Highly dependent on mining for GDP and exports

Actively seeking foreign investment in exploration and development

A regular participant in previous Indaba events

Because of this, Mali’s government typically sends:

Ministry of Mines officials

Investment promotion delegates

Regulatory and licensing representatives

Sometimes the Minister of Mines themselves

Mali has attended every major Indaba for over a decade, often with a formal government pavilion

Yes, if we follow Toubani then expect .27p.

Important to show what revenue can now be achieved and why Saltfleetby IS a going concern.

Daily energy 2,000,000 kWh

Annual energy 730,000,000 kWh

Annual therms ~24.9 million

Assumed wholesale price £0.75/therm

Estimated annual revenue ~£18.7 million

Great RNS. Finance deal incoming. Worth highlighting System Entry Energy, EOD (kWh) has been above 2,000,000 for a week solid.

Buyers back now retail share offering is over , same will happen after Eagle Eye fund raise approved on 24th of March. Admission and dealings in New Ordinary Shares starts 8th April, hopefully permit around then to reach broker target of 22p.

Looks like there was twice the demand for retail shares as shares available hence only 52% of shares applied for allocated.

So not only do we have a very strong major shareholder base we have a retail base that strongly believes in the Cora story. Once the raise is complete this share will fly.

Was this the February '23 - those who managed to get some shares at .039 have done very well. I am pretty sure anyone lucky enough will double their money within 18 months.

Highlights :-

Issue price represents a sizable discount to the market?

Raised money in December at 6p been in discussion with eagle eye for a number of months so price is the same, appreciates it is a significant discount but this is a potentially full funded solution. We have earmarked a £2 million retail offer at the same price to manage the pricing situation.

What should we look out for now?

DFS completed, Project team in place - all about the permit and getting on with construction.

12–18 Month Outlook for Sanankoro and Madina Foulbé?

Significantly through construction and looking at Gold production. Also want to develop the Madina asset over the next 18 months. Really exciting period of discovery, we will see with more drilling how big that discovery will be.

Eagle Eye do not take over companies they are a strategic investor, in order to secure a return - cheap Gold. They usually take 10% of the gold produced at a much reduced price (20%) and sell this on the market. They are not interested in managing a company, Toubani are good example of this where they are happy to let the company get the gold out of the ground.

My take on the RNS and what Eagle Eye bring to the party.

1) Eagle Eye are a know investor in Gold production in Mali.

2) Eagle Eye committed investment of £154.36 million toward the construction & development of the Kobada Gold Project, Toubani Resources

3) On January 30th Toubani formalised the project under the 2023 Mining Code (Eagle Eye influence?).

4) Kobada construction is scheduled for Q1 2026, expected 162,000 ounces of gold per year over an initial 9-year mine life.

5) Cora Sanankoro 64,000 ounce pa production in first 5 years, 10.2 years Reserve mine life.

6) Toubani have a MCap of £150m, Cora Mcap £44m, Cora is very good value in comparison and also has Senegal.

7) Retail investors get the chance to invest at discounted rate of 30-50%.

Woodward. Don't worry about these small trades they are not real person trades. They are automated market buys/sell to get a price before for filling and order. Very quite yesterday unlike the last two weeks where there has been some reasonable buys.

Looks like another DMA (Direct Market Access) order being filled. Last time it was for 1,711,256 shares. Looks like they have upped the ante to 90,000 tranches. Raises a few questions:-

1) Who is it?

2) Are they building a takeover stake?

3) Do they know the permit is coming?

3) Are they soon reaching the 3% (5% international) declaration stage.*

* Currently 500 million shares in issues so would have to reach 15,000,000 shares

3)

In a major piece of news today, Toubani Resources has officially signed a binding development agreement with the State of Mali for the Kobada Gold Project. Sanankoro Gold (Cora Gold) Final Review (Decision Imminent).

The Deal: The State’s interest is capped at 35%, providing the company with the fiscal stability needed to move toward construction.

The Scale: Toubani also announced a massive 100,000-meter drilling campaign for 2026 to expand the resource, signaling high confidence that their full exploitation permit is secure.

As of January 2026, the Saltfleetby Gas Field (wholly owned by Angus Energy) has an estimated going-concern valuation of £55 million to £65 million.

This valuation is based on the most recent Competent Persons Report (CPR) and 2025/2026 financial updates. The field is the UK’s largest onshore gas producer and its value is derived from three main areas:

1. Asset Valuation (NPV10)

According to the technical audits, the "Net Present Value" (discounted at 10%) of the field’s future cash flows is:

P90 (Low Estimate): £57.1 million

P50 (Best Estimate): £64.5 million

Note: These figures are post-tax and already account for the UK government's Energy Profits Levy (Windfall Tax).

2. Revenue and Production (Going Concern)

The field is currently a high-performing "cash cow" for Angus Energy. In the most recent trading update (issued January 22, 2026), the field showed:

Quarterly Revenue: £4.12 million (for Q4 2025).

Annualized Revenue: Approximately £16 million – £20 million depending on seasonal gas prices.

Output: Producing roughly 1.66 million therms of gas per month.

3. Future "Upside" Value

Beyond current gas extraction, the field holds significant value for its potential after the gas is gone:

Gas Storage: It is considered one of the best candidates in the UK for conversion into a hydrogen storage facility or for Carbon Capture and Storage (CCS). This adds "strategic value" that isn't fully captured in the current £65m gas valuation.

New Drilling: Two new wells (SF9 and SF10) were scheduled for 2025 and early 2026 to maintain production "plateau" and accelerate gas extraction.

Summary of "Going Concern" Health

While the asset itself is valuable, the "going concern" status of the parent company (Angus Energy) was under review in late 2025 due to debt restructuring. However, the January 2026 update indicates a strong recovery, with production surging and legacy low-price "hedges" finally ending, allowing the company to sell gas at full market prices (approx. 102p per therm).

Just popped up from yesterday :-)

28-Jan-26 12:30:56 9.20625 400,000 Unknown* 11.00 12.00 36.83k

50,000 purchaser back this morning. Someone either accumulating prior to permit news or in the know. Very little free float means the price shifts on relatively small buys. Can easily see 100% uplift on permit news. All good for LTH.

8 x 50,000 more buys. I get the total to 750,000 share bought today. Price is rocketing - hope news is imminent.

Bubblepoint and Mirasol (same person?) - post nothing but the same negative rubbish.

1. They love to tell us that the debt has increased - no RNS shows this.

2. They love it when production drops for one day even though the trend is upward.

3. They criticise the ability of the team.

a) Called for a booster but the said it cost too much

b) Called for velocity strings but then said Angus had installed the wrong type, no evidence for this!

c) Criticised the plan to dig a new well and the teams capability (yet they have successfully dug three)

4. Takes no account of Gas prices, future production or drop off of Hedges.

Begs the question why are you here? I have my suspicions.

7 x 50,000 buys this morning - looks like same buyer.