Member Info for AATHOMOZ

I wondered when the rockets would show up.

This stock is absolute garbage now.

I still have holding at 83p and just be happy to breakeven now. Will get out as soon as I can.

The warrants were originally issued at much higher exercise price (11p and 5.5p), it was only in August 2023 when the exercise price was reduced down to 2p. This was to account for the fact that the SP was lower than the original exercise price and therefore ‘out of the money’

In the twelve months since Aug-23, there would have been no incentive to exercise the warrants as SP has been suppressed.

Only now is it a sensible decision because they could pick up 70m shares for £1.4m (at 2p) and sell for £3.78m (at 5.4p).

If they were to exercise but keep the shares then it would be a good vote of confidence in the future of IMM - but equally an investment firm may well be happy with that kind of return with the immediate profit available to them.

5-day VWAP well over 4p (obviously) at 5.3p. Game on!

Thurs 11.4m 5.4p

Weds 23.36m 4.89p

Tues 64m 5.9p

Mon 49.5m 5.5p

Fri 31.2m 4.05p

Actually - I might stand down.

Don’t know why I started calculation from Monday. If you take Friday’s closing SP then you’d say it’s already exercisable.

I guess that’s what you meant with your post!

Are we only allowed to talk about warrants on your terms?

And looking at your post this afternoon claiming the SP needed to close tomorrow above 4p shows that you don’t understand the mechanic of VWAP.

So maybe my post might help, rather than causing you to lose the will to live?

If they exercise…

Positive: could raise 70m x £0.02 = £1.4M

Negative: Lanstead could take the shares and dump them straight away - I don’t know enough about them to know what their propensity to risk is.

I don’t follow all messages because there’s too many, so may have been covered, but I believe the warrants become exercisable once the volume-weighted average price exceeds 4p over a five day period.

Taking Mon-Thurs volume and closing price, the VWAP is currently 5.57p over the last 4 days.

Therefore it’s impossible for the criteria not to be met tomorrow (you’d need a negative SP).

Values used:

Thurs 11.4m 5.4p

Weds 23.36m 4.89p

Tues 64m 5.9p

Mon 49.5m 5.5p

“The 2021 Warrants and 2022 Warrants will then be exercisable at the earlier of (i) the five day volume weighted average price of Ordinary Shares attaining 4 pence or (ii) 12 months following First Admission or (iii) a takeover offer is announced for the Company.“

The only downside to results like this is the day traders coming in with their bombs and rockets emojis!

Imagine having to explain to your boss why you still have a 2.5% short position in ITM and coming up with a strategy for HTF you get out of it…

YE cash in bank £190M

Order backlog £135M

Pending 508MW orders

Assuming zero improvement in EBITDA loss (madness), cash runway of 6-7years

Market cap today £216m @ 35p SP

Enterprise value for all the above: £26M

Go figure…

I don’t follow this closely but looks like upper end of consensus for FY25 is £33M (mid £28.3M), so quite a substantial upgrade.

Tread with caution looking further out though.

Interesting how they are pushing the US ticker GMTLF on X … and although it was relatively low volume that caused the SP drop yesterday, there was no such drop on the OTC under GMTLF.

The guy is out his depth. I can’t imagine the Canadians like his style either - a bit Jack the lad.

Compare to Oliver Friesen at Guardian Metals, dry professional, dynamic, etc. and then look at how their business proposition is developing.

You’re hard to please Umas given the intraday rise %!

Seems like an unbelievable deal.

Don’t find high grade tungsten then we give it back. If we find REALLY high grade tungsten then we buy them out of half their royalties to maximise profit.

Wow.

You as sure as you were when you called 6p a few weeks back and promised never to post again?

They CAN be exercised. Not mandated to…

…if you think large investment funds are looking at Facebook marketing posts then you’ve lost clarity of thought.

I have been critical of the corporate brokers for some time now. I don’t feel like the market is hearing the real potential here - they need to hear it louder than ever having been stung already in massive over-hype a few years back.

So far JP Morgan and Berenberg have added zero value. I hope they are suitably readied for Thursday at 7AM and have been thoroughly engaged in the investor presentation design.