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If you don’t believe in the leadership or the strategy, take the loss and move on, but endlessly complaining doesn’t change what’s actually been built. The funding route hasn’t been pretty, no one’s pretending it has, but it has got the project to where it is today. Indigo and Deacon have taken over 18% of the company in TR1's this month. Thats not punt money.

We’re now at the point where commissioning and optimisation are expected this quarter that’s the real catalyst. If they demonstrate stable production, that won't be a marginal shift, it’ll be siesmic. You’re priced to fail here, at £3-5m thats less than most early stage explorers, so the instant transformation to a producing lithium operation with output and cashflow will be unlike anything else on the market.

And let’s be clear there are no other UK listed companies at this valuation with installed infrastructure capable of producing at this level. None. The plant, the asset, and the pathway to production are already in place. If it works, the disconnect between where it trades today and what it actually is becomes impossible to ignore.

Great move from 33p to 50p. Seems to be taking a breather.

If this works, given Canmax have stuck by PREM the debt will be restructured imv. Graham said Glencore and other interested parties are still engaged. In this scenario I can see the share price exploding as it did some years back from 0.02 to 1p. It still has a huge following, with all it's faults, the project is one of best known on AIM.

I wonder why Indigo Capital LP have taken over 9%!

I think current SC6 lithium prices are sitting around $2,100–$2,400/t. So if Zulu can actually get into steady production, the numbers start to look quite interesting.

At 15k tonnes per year, you’re talking roughly $31.5M–$36M in revenue (15,000 × $2,100–$2,400). If they can push to 20k tonnes, that jumps to about $42M–$48M (20,000 × $2,100–$2,400).

On the profit side, assuming rough operating costs of say $700–$900/t, you’re looking at margins of about $1,200–$1,500/t at current prices. That would imply something like $18M–$22M profit at 15k tonnes, and $24M–$30M at 20k tonnes.

There's no way it stays sub £5m if commissioning and optimisation goes as planned this quarter.

I think Graham is dealing with the situation in the best way possible given the circumstances the company was/is in. Short term pain for long term gain. This is a vital quarter, £1m should be good for a couple of months now, if commissioning is successful people can forget much under 0.10 (£32m) it's going to rerate significantly. The first £100m usually comes very quickly.

Started building a large position this morning, I don't see much downside now. Thanks for posting that clip, just listened to it, on Q2 commissioning:

"We are continuously in contact with people like Glencore there are one or two other interested parties too, they are waiting obviously for us to get this plant up and running and show that we can produce. When that happens I think our whole world will become a massive oyster."

I think this could rerate to 0.20-0.50. Sub £5m is a steal, i'd forgotten how big the operation actually was. Just seen the tweets from company and the infrastructure alone is multiples of the market cap.

Take a look here:

https://x.com/i/status/2049034987366695163