Member Info for Westy54

Sorry that should be Nov 2025 MRE and I am talking only about Tin and only about Kalayi, just for clarity - 15-16kt of tin accros the whole area, the rest doesn't change

Thanks All,

Very interesting.... I think Kalayi will double MM, so 15kt in total. Primarily, as I wrote earlier because the grade has increased by over 70% so if you dig out and process the same amount of rock as quoted in the Nov 2026 Maiden MRE, you would now get over 70% more tin. Same amount of digging, same amount of processing, but 70%+ more end product.

Couple that with the unknown revised tonnage of mineralised rock, which has to be higher than Nov 25 simply based on the find of greater width at depth than previously found, and I get to at least double. That's my logic, I think it's sound...... guess we will all find out at the end of the month.

Just want toadd, Kalayi is obviously Tin only, so nothing else would change, just doubling of the Kalayi tin in the ground estimate.

I agree MM, this valuation with this potential is ludicrous.

Bearing mind though that no public funds can buy into this without the MRE (Private funds yes)

The key steps here are the MRE, the licence upgrade and the purchasing of the shares to increase ownership, then we will be sitting pretty.

I personally see the MRE as more than doubling the tin contained at Kalayi, the grade is up 78% alone and with the wider seams at depth, the tonnage of mineralised rock will also increase (We don't know this figure yet, we have to wait for the mre for it)

So, based on that info and on all the other benefits to Alphamin of buying it, such as logistics and lack of new CAPEX, what do people realistically think they will offer for it on a pence per share basis?

I appreciate that the value of the business is greater than this potential deal alone, just interested on what people think they will offer and then ultimately perhaps what people think this will lift the sp to bearing in mind we will be de-risked in terms of dilution moving forward?

Just a quick one G, Charles Archer stated that it could hit the £1 mark by the end of 2028 not this year - just managing your expectations :) All the best

Assay results in the next 2 weeks, the mre update is targeted for the end of the 2nd quarter ie end of June

Thanks for the feedback guys, appreciated

Wondering whether the recent outbreak in the DRC will affect us?

I think I ahve to agree with you Edzi, there have been two days of enormous buys in the last 2 days, 298m and 289m on a 3 month average volume of 28.9m so for the last 2 days share volumes have been 10 times the 3 monthly average. There are some very large accumulations going on, that could be Market Managers accumulating expecting very high demand shortly or a big buyer, can't tell which. They may be dropping the price in the hope of triggering stop loss sells because to be fair, who in their right mind would sell at this moment in time, right before assay results and MRE update are published. Each to their own of course

I get as tired of all the insults and bickering on here as anyone but I believe there are ways to avoid some of it.

As can be seen from the "Moonshot" thread below, if you state your strategy on here you will get insults thrown at you. If you state you are selling, rampers will call you a fool and if you state you are buying de-rampers will call you a fool, you cannot win and you do NOT (Or at least should not) need to justify your position, decisions and strategy to anyone, perhaps to your partner, but certainly not to anyone on here.

My advice, just don't post whatever it is you decide to do on here. Do what you want, when you want according to your plan and circumstances. NEVER justify what you do, and never tell people on here what you are doing - Each to their own.

Whatever you are currently doing, buying, selling, holding, waiting for news, exiting whatever, good luck and I hope you will be happy and content that you have achieved whatever you set out to achieve.

Can you post the proper telegram link here please, would love to join that group.... ta

Hi Daz,

No, not really, at least not to me. It means that we can generate some revenue from the cracked ammonia in the meantime. The pilot plant will move to ICL over the summer followed by high fives in November is the schedule where they will be tested tested and tested some more hopefully before applying for certification.

This all feels very sensible to me and we must remember that just as with the s and p partner goal posts and the industry and therefore the opportunity are changing constantly and approach has to change accordingly.

So I personally I'm very comfortable with the delay and in the meantime we generate a little bit of revenue.

Patience is key and in my opinion this remains a high risk but high reward opportunity. But of course as time ticks along and news is released the risk becomes reduced hopefully

Atb

LLL in answer to you, no, commiting to the 15 for now subject to orders of course. The reasoning is to preserve cashflow.

Daz, no they did not state how much revenue from H2 sales at dunsfold would be. We do know the pilot cracker located at dunsfold can produce 300kg a day comfortably so that would max out at £90k a month - not husge but a start. Ref ICL. No, it was the dunsfold pilot cracker that was going to be moved to ICL but it is staying at dunsfold until mid summer I believe now and will be generating income in the meantime through H2 sales directly to market

Hope that helps?

*overt

Having attended the agm last week I think by "soon" they mean sooner than the market expects, which is actually what has been said.

The original announcement was timed to be after phase 2 of the jda. Now that much, much greater potential is being identified than just port side crackers, such as glass, cement and steel manufacturers, phase 2 has been paused. However, even Gary bullard said at the agm that the partner does not want to wait until phase 2 is complete, they want to take advantage of market opportunities or at least line them up sooner rather than later. So the partner will be announced before phase 2 is completed which is before the market is expecting. That is where they are at. They will be "less secretive and more over" in their relationship with h power because they want to start joint projects before phasev2 is completed

I agree with you alde and you too are, 2026 will hopefully be the start of things. 2027 and into 2028 will start to see real results IF jw and team can execute their plan. Here is a link to a newish article from Charles Archer and whilst it is extremely bullish, having studied it, I think it summarises exactly where we are at the moment

https://open.substack.com/pub/thatstocksguy/p/afc-energy-fe8?utm_source=share&utm_medium=android&r=7mz2tt

OK, no questions were asked about the incresed input costs, no.

They don't usually livestram the AGMs I don't think. the Investor days yes, but not the AGMs. Possibly because of proof of share ownership is required to attend, speak and vote at an agm, but that's just a guess.

I agree that the sp will most likely fall on Monday as a result of the straights being closed again, it was of course one of the main instigators of the sharp rise on Friday, along with the ITM RNS and the "Halo effect" of that. i also agree that trying to time or trade this is difficult. It would only take an announcement of the S+P partner, with or without revenues and this will start to move. far better just to get in and hold imo. Retail investors are notoriously skittish and want everything now! Of course we do, it's our money. Ii's play with other peoples money but have a longer timeframe. 10 new Institutionals came on board last July during the raise and that sends a message to me at least, that buy and hold, don't trade and you will be rewarded.

I understand that LTH's are fed up with false dawns and RNSs that used to come out and nothing comes of them. JW and KB have been in place just 15 months. The rebrand willl do a lot to put all the stuff that has happened in the past, in the past and should not be carried forward into the new management's regime.

If at all possible, go, attend a meeting, see the whites of their eyes, their belief in both what they want to achieve and the plan that will get them there, it is pretty inspiring.

3 of us had breakfast at the hotel last Thursday before the AGM. JW came over sat down and spent 15 minutes chatting with us. A CEO about to go into the AGM does not have to do that and his excitement was palpable. Just by comparaison, the last AGM Bond was at, he sat at a table, by himself, didn't speak to anyone, not even his own team. This speaks volumes to me.

We all want this to succeed of course but we do need to give the new team at least 2 to 3 years to execute their revised strategy, I know that means more waiting, but it is only fair - then judge them - that is only fair.

Atb Alde, I don't post on here much but you know that I respect your opinion.

Alde, you are to a degree correct. At the AGM (Which I attended) Nick Walker presented some insights into the NH3 Marcket, it was very interesting. Blue and Grey ammonia price has increased in cost by 57% since the Iran war started, clearly as a result of oil proces shooting up. Green ammonia however has only increased by 4%. I guess that no matter what oil prices do, the sun still shines and the wind still blows.

Currently there is about 800,000 tons of green ammonia produced globally per annum. To put that into some context, when NEOM comes online (Estimated feb 2027) it will produce 1.2 million tons of green ammonia per annum all by itself. Air Products have a 100% off-take agreement for the green NH3 for the next 30 years and they have already stated that 90% of that will be coming to europe.

No, I know AP have not yet been named as the S+P partner, but we hope that will come soon.

Just thought I'd let you have some context is all. My understanding is that the slide deck from the AGM will bbecome available after the fromal name change to H-Power has completed, you will be able to read and hear all that info for yourself there, if you can be bothered to get up to date

Morning Ade,

They are offering a hydrogen as a service model based on "Tomorrow's price today" so my assumption is the selling price will be £10/kg.

However, still very welcome revenues, totally agree.

Yes Ade, I understand,

As a shorter of AFC of course you want to buy more at 8p, afterall your original loan of shares was at about 10p wasn't it?

Time to get out Ade, the newsflow has started, it really is only going to go one way from here, apart from day traders of course, this is now on a steady climb upward.

Good luck

Ade,

As more good news and revenue streams come out of AFC, so your deramping efforts and slagging off of AFC will weaken. Already you are losing any influence and credibility that you think you may have.

Time to give it up Ade, go buy your shares now and return them to their rightful owner before you get seriously burned