Speaker Speaks

Independent mind

[Asante Mokhuoa @AsanteOnBoards]

Mantengu Mining Achieves Record Revenue Amid Chaos and CEO Death Threats:

Another Corporate Saga Worth Watching

Mantengu Mining first grabbed my attention not because of its numbers but because of the storm swirling around its CEO, Mike Miller. Threats, intimidation, and allegations of a shadowy campaign to crush the company’s value painted a picture far darker than a typical mining story.

Naturally, I had to dig deeper.

The company’s latest financial year, ending February 28, 2025, tells a different story:

Revenue – from R109.9 million to R317.5 million
Gross profit – from R52.6 million to R106.4 million
Net profit – from R1.2 million to R303.3 million
Net asset value per share – from 58 cents to R1.78

CFO Magen Naidoo articulated it succinctly: bringing mining operations in-house and investing in their own fleet cut costs by over 50 percent per tonne. This reflects operational discipline and strategic resolve. Yet, Mantengu’s success unfolds in a market where the ground beneath remains precarious.

From my vantage point, Mantengu sits atop a gold mine—excuse the pun. Yet beyond this optimism lies a stark reality. With the JSE experiencing an ongoing wave of delistings and a pronounced exodus of marquee companies, Mantengu would be wise to seriously consider alternative listings.

Look no further than Ntate Motsepe’s African Rainbow Minerals and, of course, our firm favourite—Barloworld.

By the way, I just realised I haven’t updated you on BW' latest developments. This month, I will be sharing insights from their recent results and the extended acceptance deadline for the Standby Offer, along with what these mean for shareholders.

As a leadership and strategy development consultant, I see exploring alternatives, including potential deregistration from the JSE, not as defeat but as prudent risk management. In today’s dynamic and increasingly complex capital markets, such a stance exemplifies disciplined, forward-thinking stewardship aimed at protecting and enhancing shareholder value.

But then again, that’s just my two cents worth as a keen observer from afar.

In my humble opinion, this Mantengu’s story is far from over, and if you’re watching South Africa’s capital markets, it’s one to watch closely.

Please let me know your thoughts...

#AskAsanteOnBoards

[Speaker Speaks @speaker_speaks]

@ARamalisah @ECSAOfficial @Action4SA @ChangingthingsS This is great Engineering. Salute

[Speaker Speaks @speaker_speaks]

Happiest birthday @kgampib , welcome to 5th Floor Sir.

[Speaker Speaks @speaker_speaks]

27 years of incarceration fighting amongst others for Human rights, our rights, my rights; I have no reason to betray this man. No Vote No right...

[Speaker Speaks @speaker_speaks]

Been there, a gem indeed.

[Sonto Ndlovu🇿🇦❤ @sontondlovu]

A plug..

Went to a funeral in Zhelele, Venda recently and discovered this gem in Louis Trichardt...30 On Bergh. This is a new boutique Guesthouse. Apart from the beautiful and comfortable rooms, good food, serene surroundings I was particularly touched by the service provided. They really give you that personal touch.

Still undergoing grading process, they are awaiting their grading confirmation from @TGCSA, but from what I experienced I'd happily give them 4 star grading.

I'm told they are the only guesthouse that opens 24 hours in the area. Perfectly located just off the main road to Musina & Zimbabwe, makes it a perfect rest stop before crossing the boarder.

Indeed, Limpopo never disappoints. I'm still in awe when I see new tourism products mushrooming post Covid.

Don't just take my word check them out https://t.co/CuJ3frVxYt

#GoLimpopo #MoreToEnjoy

[Speaker Speaks @speaker_speaks]

@OG_Molefe @MosDez4 It was on my to do list....your review has changed my mind

[Collins Chabane Foundation @collins_chabane]

As we uphold the legacy, we are indeed grateful to golfers and sponsors, in-kind support from various individuals and institutions for being there for us in 2023. We made a huge difference to Dagbreek Primary School, Modimolle & Nthabiseng Special School in Phalaborwa.2024 next

[Speaker Speaks @speaker_speaks]

@ChangingthingsS @saice_civil @ECSAOfficial This is absolutely sad indeed. A great Mentor to many, a man good at picking up talent, a rare breed of Engineer South Africa produced. What a loss. Rest in Peace indeed.

[Speaker Speaks @speaker_speaks]

@ChangingthingsS @SANRAL_za Reservation of Engineering Work should and must be implemented immediately. Engineering Activists are needed more than ever before to Champion this noble project. Arise

[Speaker Speaks @speaker_speaks]

@EuphoriaGolfEst Nice place to be at. Keep up the good work Team Euphoria.

[Speaker Speaks @speaker_speaks]

@ThuliMadonsela3 Profound

[Speaker Speaks @speaker_speaks]

@orlandopirates @ChippaUnitedFC Once a Pirate....

[Speaker Speaks @speaker_speaks]

Once a Pirate....

[Speaker Speaks @speaker_speaks]

@orlandopirates @SekhukhuneFc

[Speaker Speaks @speaker_speaks]

Upholding the Legacy of a wonderful leader, brother, father, musician and a very humble politician of note, Cde Collins Chabane, in you we believe.

[Collins Chabane Foundation @collins_chabane]

After our June Handover of Sports Equipment at Dagbreek Primary School in Modimole, Namakgale, in Phalaborwa is next, we handover Specialised Sewing and Welding Machines at Nthabiseng Special School on 21st July 2023. We owe it to Collins Chabane Memorial Golf Day Event.

[Speaker Speaks @speaker_speaks]

Well done to the Foundation.

[Collins Chabane Foundation @collins_chabane]

Dagbreek Primary School, Phagameng township in Modimolle, Limpopo. The Collins Chabane Foundation handsover Soccer, Netball, Rugby and Basketball kits to this wonderful school together with our Trustee, Honourable Deputy Minister of Higher Education, Buti Manamela.

[Collins Chabane Foundation @collins_chabane]

Dagbreek Primary School, Phagameng township in Modimolle, Limpopo. The Collins Chabane Foundation handsover Soccer, Netball, Rugby and Basketball kits to this wonderful school together with our Trustee, Honourable Deputy Minister of Higher Education, Buti Manamela.

[Speaker Speaks @speaker_speaks]

Just a thought, why was a Bible translated to any language available but not Science books?

[Godfrey Ramalisa @ARamalisah]

“Appointing people in leadership positions in infrastructure institutions without suitable engineering qualifications, not professionally registered with ECSA, is irregular, totally unacceptable & should be punishable by law.”  ~ @ChangingthingsS