Member Info for TheBasher

@Daz423

Hainan may well not be bothered about a high sp. In fact the opposite could be true as they then have the opportunity to buy more at a discount. Nice ruse if this was orchestrated.

As mentioned in my earlier post, for the Chinese it’s all about owning and controlling the resource. Throw in questionable business tactics, and anyone involved can get screwed. KZG are in the position of having sold Aftan for $13 but have only received less than $5m. Even though Xinjian are now operating the mine, contractually KZG still own the mine until fully paid but what will happen when / if the arbitrator tells Xinjian to hand the mine back to KZG. Do you think they will go “yes sir, here are the keys” and leave the mine peacefully and in perfect condition? Maybe, but if you do some research into how some Chinese miners react when possession of “their” resource is threatened, then maybe not.

I was hoping but not expecting a positive RNS from KOD this morning to clear this mess up, but there isn’t one. What does that tell you? Everything hunky dory and “business as usual”? Or is it time re-evaluate?

It looks like the recent downward trend may well have been broken on Mon 4th with the 30% rise on volume. The pullback today would be expected if that’s the case as short term traders cash in - for a longer term position, once 12p is broken, that could well confirm a new uptrend and present a lower risk entry point. Will be interesting to see how this plays out over the coming days - my bet is long.

That's interesting... so they will not open any new buy positions.

Can't buy enough to cover off positions? Shortage of stock?

If positive news lands this could go ballistic.

Follow the money. 2 x large buys this morning, plus previous Warner purchases...

So with timne runnng out before my planned exit from AIM at the end of the year, I've just topped up (averaged down) with some of my profits from KOD (who have got themselves in to a right two and eight with their Chineses partner Hainan).

Hopefully we will get some positive, SP-shifting news over the next few weeks.

Based on the timing of the trade when the SP mid was 6p, I am guessing this is a buy:

06-Nov-24 09:17:50 0.06 30,703,417 Unknown* 0.06 0.065 18.42k O

Bit of patience required for the next update.

@wareing1972

Ooh, all those posts have disappeared. Somebody must have reported them ;-)

“The Company has instructed its attorneys to commence arbitration proceedings with immediate effect. Arbitration will take place in Windhoek, Namibia, with an expedited timescale for conclusion of 60 business days from the initiation of arbitration proceedings”.

So, from Tuesday, 24 September 2024 , 60 days is, excluding weekends and public holidays, Tuesday, 17 December 2024.

Along with HMS and Diamond production update, maybe DE will score a hat trick RNS.

@mikb

Completely agree and was about to post the same observation. Body language was significantly different to what we have seen in the past. Prescriptive delivery of news, with attempts to sound “business as usual” and “nothing to see here” when obviously there was…

I’m not sure if the panic is over and I am cautious of a dead cat bounce. I don’t think the games are over yet, but we will see.

III. Impact of the signing of the Memorandum of Understanding on KMUK and the Company

1. The signing of this Memorandum of Understanding is a necessary legal step for KMUK to transfer mining rights in accordance with local laws, which can effectively ensure the subsequent compliance construction and operation of the project;

2. The signing of this Memorandum of Understanding is conducive to further consolidating the cooperation between the company and the Malian government, and will have a positive impact on both parties to jointly promote the smooth development of the Buguni lithium mine project and achieve the expected economic benefits;

3. After the completion of the participation of the Malian government and government investors, the company's actual control and operational decision-making power over the Buguni lithium mine project will not change, but KMUK's equity ratio in LMLB will be reduced from the current 100% to 65%, and the company's interests in the Buguni lithium mine project will also be diluted accordingly.

3

The company's designated information disclosure media are Shanghai Securities News, Securities Times, Securities Daily, and China Securities Journal. The company will strictly follow the provisions and requirements of relevant laws and regulations and make timely information disclosure according to the progress of this transaction. Investors are requested to invest rationally and pay attention to risks.

This announcement is hereby made.

Hainan Mining Co., Ltd. Board of Directors

November 5, 2024

Send feedback

In October 2023, KOD completed the major asset restructuring according to the above transaction plan, including the transfer of its 100% equity in FM to KMUK, making FM a wholly-owned subsidiary of KMUK; at the same time, it completed the establishment of a wholly-owned subsidiary LMLB and planned to transfer the mining rights of the Buguni lithium mine from FM to LMLB. However, since the Malian government has issued a request for comments on the proposed new "Mining Law" since August 2023, the transfer of mining rights has been suspended. To this end, Xinmao Investment signed a supplementary agreement with KOD and KMUK on the exemption of the aforementioned transfer of mining rights as a condition of delivery. For details of the above matters, please refer to the company's announcement No. 2023-092 disclosed on October 28, 2023. In July 2024, the Malian government finally determined the implementation decree of the new "Mining Law". In order to comply with the Malian government's requirements for the implementation of the new Mining Law, complete the transfer of mining rights as soon as possible, and ensure the smooth progress of the Buguni Lithium Mine Project, KMUK, FM and LMLB recently reached a consensus with the Malian government on relevant matters and signed a "Memorandum of Understanding".

2. Main contents of the "Memorandum of Understanding"

1. It is clear that the Buguni Lithium Mine Project will be uniformly included in the jurisdiction of Mali's new "Mining Law";

2. The Malian government promises to agree to transfer the mining rights of the Buguni Lithium Mine Project from FM to LMLB, with an initial validity period of 10 years. When it expires, the government promises to renew the license according to the mining law conditions valid on the date of renewal;

3. The Malian government agrees to issue the construction, development and export licenses required for the Buguni Lithium Mine Project during the construction period of the Buguni Lithium Mine Project, and exempts the import of equipment and materials required for the construction and operation of the project from tariffs;

4. The Malian government and government investors can obtain 35% of LMLB's equity, and it is a preferred stock. 10% of the shares are obtained by the government for free, and 25% of the shares are purchased by the Malian government and government investors at a price of approximately US$4.3 million; 5. In accordance with the requirements of local laws and policies in Mali, KMUK and FM will pay a total of US$15 million in taxes to the government, which will be paid in equal amounts within 5 days after the signing of the Memorandum of Understanding and before March 31, 2025. Note: According to the capital increase agreement signed by Xinmao Investment, KOD and KMUK, the relevant taxes generated by the transaction shall be borne by KOD. Therefore, KMUK reserves the right to claim the above US$15 million in taxes from KOD.

1

Securities Code: 601969 Securities Abbreviation: Hainan Mining Announcement No.: 2024-116

Hainan Mining Co., Ltd.

Announcement on the Signing of a Memorandum of Understanding with the Government of Mali

The Board of Directors and all directors of the Company guarantee that the contents of this announcement do not contain any false records, misleading statements

or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.

Recently, Kodal Mining

UK (hereinafter referred to as "KMUK"), a holding subsidiary of Hainan Mining Co., Ltd. (hereinafter referred to as the "Company"), and its wholly-owned subsidiaries Future Minerals Sarl (hereinafter referred to as "FM"),

Le Mines de Lithium de Bougouni SA (hereinafter referred to as "LMLB") and the Malian government signed a "Memorandum of Understanding" on the transfer of mining rights and government equity investment in the project involved in the unified inclusion of Bougouni lithium mine (hereinafter referred to as "Buguni lithium mine") in the new Mali "Mining Law". The specific details are as follows:

I. Background of the signing of the "Memorandum of Understanding"

In January 2023, the Company's wholly-owned subsidiary Xinmao Investment Co., Limited (hereinafter referred to as "Xinmao Investment") signed a capital increase and shareholder relationship agreement (hereinafter referred to as the "Capital Increase Agreement") with Kodal Minerals PLC (hereinafter referred to as "KOD") and KMUK (then a wholly-owned subsidiary of KOD), and acquired a 51% stake in KMUK by increasing capital by US$94.34 million in cash, thereby obtaining a controlling stake in the Buguni lithium mine project located in Mali, Africa. KMUK was newly established for the aforementioned transaction. According to the relevant arrangements of the Capital Increase Agreement, after the completion of this transaction, KOD will transfer 100% of the equity of its wholly-owned subsidiary FM (the mining rights and prospecting rights of the Buguni lithium mine held by the company) to KMUK, and FM will transfer the mining rights of the Buguni lithium mine to KMUK's newly established wholly-owned subsidiary in accordance with the requirements of local Malian laws. At the same time, according to the provisions of Mali's then Mining Law, the Malian government will obtain 10% of the equity of the aforementioned newly established subsidiary for free, and has the right to further purchase an additional 10% of the company's equity, thereby obtaining the proceeds from the mining and sales of the Buguni lithium mine. For details of the above matters, please refer to the company's announcement No. 2023-003 disclosed on January 20, 2023.

There appeared to be something going on but I could not put my finger on it. This is why recenlty I have been selling up my KOD holding, and this morning sold my last tranche. The Chinese have been hoovering up resources globally for sometime now to safeguard their supply, and to control the market. Hainan, who own 51% (ie controlling) want the resource. They wouldn't, I assume, be interested in selling up. All the posts about buyouts at a big premium were in cuckooland. If you have even the smallest insight into the generalised characteristic of how the Chinese do business , you would have some reservations about how things were going to play out long term for KOD.

Aggressive takeover next? I would not be surprised but I hope not for all exisiting shareholders who, on the information that was available to everyone, made what appeared to a great investment. But as we should all know, especially on AIM, nothing is a dead cert.

I am genuinely saddened to see this type of situation happen time and time again, I can now see that I should have acted sooner on my instincts to preserve more of the profit. It also maddens me that the small private investor always seems to get shafted. I don't pretend to have a crystal ball, nor be the fountain of knowledge, but experience and instincts led me to believe there was something fishy going on, and now it is clear.

But perhaps things will resolve well to everyone's benefit. Fingers and everything else crossed.

I’m not usually one for emojis on these boards but 🚀 seems appropriate!

Relatiely low volume but its a start.

@chitta

Thanks. It was actually on the HE1 board I posted 😊.I’m getting old!

And now HE1’s partner in the US has just posted a very positive update, so that particular investor will probably feel as though they are the greatest investor alive. Trouble is just because you might have got lucky once (if the sp does react positively which we know often it doesn’t), it doesn’t mean you know how to play in AIM. It’s like being rewarded for bad behaviour which, with the overblown confidence that can be caused, will cause even bigger mistakes to be made leading to damage to your wealth in the future.

@Pauly80

Every cautionary post you have made here recently appear to be either based on fact or is an informed opinion. I for one welcome these views as, even though I personally may not need reminding, some less experienced investors may get sucked in by baseless hype and make poor investment decisions so a balance of views is important.

And not forgetting the underlying risk in “investing” in AIM - it’s a casino, and one where the house nearly always wins against retail investors. (I’ve just been posting on KODAL about this as a certain WeeJambo has apparently staked all his house sale proceeds betting on the price going ballistic - I am genuinely concerned).

I am fully aware of the risks with CLON but have decided to risk x amount, knowing full well it could go belly up, but on the other hand if, and this is a fingers crossed “if”, they have, after all these years, managed to get all the ducks lined up then the rewards could be huge. I was attracted by the size of the Bolivian opportunity, their history with Bolivia, the JV with Next ChemX with their DLE tech and its significant advantages and cost benefits over legacy extraction methods and it’s use in other sectors, potential for EU funding, investment by a major German off-take partner, and the circa €500k (7% of the company) investment by one experienced retail investor.

High risk, high reward.

… don’t want to see others fall victim to the same pitfalls.

@Wee Jambo

I’ll exercise my right to reply.

I am invested here, as many posters here know. KODAL was my biggest holding cash-wise having bought around the 0.2 level but recently I’ve reduced my position due to recent events and reinvested some of the profit I’ve made in FRG.

Regardless of that, my thoughts earlier come from the experience of investing and trading my own account for 25-years. AIM is a casino, hugely de-regulated, and in the early days in my naivety and being “wet behind the ears”, I made some very expensive mistakes. It’s up to you whether or not you want to listen to people who don’t. Only a minor % of my entire portfolio is in AIM and I will likely sell all my AIM holdings over the next couple of months as my appetite for risk reduces the nearer to retirement I get.

By the way, I’m glad irony flies over your head. Basher by name, Basher by nature? Get a grip.

@weejambo

I hope to fleck that you are joking. If not, I hope you are not married with children as you would be messing/playing irresponsibly with their security. AIM is a casino. Just do some research and you will see companies that are a “dead cert” (there is no such thing) quickly become a dud - you are not in control of how the BOD decide to manage or monetise the assets. I would certainly protect house money by minimising it’s exposure to AIM, or preferably avoiding it all together. You have been warned.

@100notout

I think you are absolutely right about the lack of focus on the gold being a huge mistake. It was a no brainer 12-months ago that Gold was worth investing in. Luckily though the gold in the ground isn’t going anywhere so unless KOD make another mistake by off loading gold assets, then in time they can realise the value of what they have.