Member Info for Benhowell459

You would think shorts will have closed by now...

Sheep - to have the knowledge that Rach claims to have, you would need to have done hundreds of hours of research and be an expert in the field.

Their statements contradict such a conclusion ("only looked into it when it surged") as you quite rightly point out. Their opinion is as worthy as mine is, and I have no expertise in the field. However I have read opinions from experts in the field - something they seem not to have done.

They evidently have a negative agenda for a reason or are just incompetent in their research.

I'd accept a US280m offer tomorrow! Would be a 22 bag for those participating in the Wrap.

If P1 results are as good as many think they will be, then I would not take £225m (280 US in £). The potential is too great.

Interesting question about delaying the positive news about phase 1 until we are shot of RF.

On the one hand, RF still being around will slow down the rise in share price. It will act as a drag due to continued selling.

However, their selling will occur at a higher price meaning they will need fewer shares to recoup the amount agreed. Therefore there would be less dilution overall, benefiting us PIs in the long run.

Elcap, completely agree.

The BOD's business acumen is (evidently) woeful. That much is clear. Decision making over when to raise, PH and RF show they are naïve, easily led and SP doesn't have the contacts Tim and John think he has.

However, we are on the cusp of successfully completing Phase 1. Many thought we'd have been on licenced or bought out pre- clinic. We are worth multiples of a company who haven't been tested in humans and that is down to the science.

Fortunately SRA737 is outside their control and I keep my fingers crossed CRUK learned their significant lesson and did more due diligence than ever before and included watertight clauses in the contract.

It could all come good, and that will be despite the BoD's incompetence. Hopefully news soon to give us something else to talk about...

Great point Hawaii. I first bought in at 1.16, then at 0.85 so have an average of 0.99. I'd take 2p buy out for 72m. Think everyone would be in profit at that point and the overwhelming majority of long term holders will have at least bagged once and many will have made life changing amounts.

Having said that, you could argue that we should be worth nearer the 100m mark given the price of gold at the moment, the sheer number of licences we have and the agreed funding by BCM reducing risk and boosting our potential over the next 2 years or so.

You would think we'd be a target in the next 2 or 3 months, otherwise 1p will be the starting point for negotiations!

Not entirely sure we got much more value out of it in the following 7 years Howezap. We would have avoided the constant "This time next year Zac", and Dani's constant misleading assertions about gross income rather than net etc.

One of the benefits however was not letting Jan Nelson get his mits on 17.5m.

The other would be we have much better projects to invest in now. The line in the 2016 RNS about investing the money into Chepica brings back bad memories

Thanks Older. That explains somewhat the apparent delay with Oval. It does bit explain the complete lack of update for Kakuye.

We have a cracking set of licences now with regular cash and a potential jackpot in Oz waiting for the copper price to make it highly desirable. I just would like fast progress.

It is 4 years now since BR was acquired and a lovely PPT was released showcasing potential. 2 drilling campaigns have not led to any value for shareholders, our main asset has been sold for less than previously offered and there has been no other exploration of note.

I hope the JVs fare better than Eureka, Kalengwa and Kakuyu

Colin just retweeted about copper price at 14 month highs.

Current price $9359 per tonne. Price for December '25 is 9560.

Very glad we are well above 9k. Over 10k would really help the BR Business case, especially if before end of the year.

I can see what Colin's doing. Positioning his "stable" into a position of power in a region which has delivered on a huge scale before. The issue is we do actually have to drill the licences and then show a positive business case for digging it up.

Since August 2023, "acquiring a database from AA" and "receiving Glencore's historic drilling results" doesn't equate to much exploration.

What is taking to long to actually do anything? The August 2023 JV RNS promised groundwork in a number of areas. Have they been done?

Two years with Kakuye - has anything been done?

Eureka was mothballed.

Kalengwa ditched.

Colin, you can't just horde the licences like a fat kid with the cookie jar...

Sorry Jez. Been away ramping my other share in the doldrums.

If you find the Penguin guide, let me know. My Dummies guide needs improving. Page 1, something about writing a belief you wouldn't want to be out over the weekend? Page 2, claim a 100% increase by the next quarter. Page 3, something about banging on again and again about past successes ($265m, Kalumbila) Maybe Colin has read my book...

Completely agree about the impact of dilution here Potnak but fact remains the company needed cash. I'd MUCH rather it was provided by long termers than II via a placing.

Dilution was completely unavoidable after the BoD's failings. But we've been over this. I'm glad PIs were able to benefit and (generally) average down, whilst at the same time securing the mid term future of the company.

HBD. Completely agree. If IG were involved, I definitely would have participated.

Cracking result from the wrap though. Funding resolved for the foreseeable. Release 1a results. Design 2a trial. Licence/buyout.

SAR737 news could also land at any time. Hopefully this is the last placing required for Sareum

Can't argue with that Aber. SP has not justified a nigh on 100% pay rise. Essentially rewarding failure. He'd fit in well in the Tory party or maybe he's petitioning for a place in the House of Lords. Tim has the business acumen of an Apprentice candidate. No understanding of the bigger picture or how they look/sound to other people.

The strategy/plan is to move onto phase 2 asap. Hopefully in Oz, which makes a lot of sense. We discussed this a fair bit over the weekend.

I have not seen anything thus far that tells me they will make sound financial decisions when it comes to a buy out or on-licence. Dealmakers they are not...

The more overscbscribed this WRAP offer is, the bigger the message to the BOD that PIs back the science and want to see progress here. We do not need PH sticking their beaks in and doing bu***** all to move things forward. I truly believe consolidation was their idea - it has not helped to bring institutional investors. A subscription total over 1 million here would make it clear we also didn't need RF.

Bring on Phase 2. We will certainly be on the radar if we can get SDC into psoriasis patients in Q4 2024.

Same. I can't access the wrap as on IG but want to average down and display my confidence here so have nabbed a measly 2000 shares (they all count!). I hope the wrap is way oversubscribed and its onwards and UPWARDS from here!

Jez, think I'll be with you on that. Let's ramp it back to 6p and get ourselves an orderly Brexit (Bird exit)

Knowing my luck, he'll negotiate a 12p BR buyout about 2 weeks after I sell for 6...

Num4, I think you hit the nail on the head.

Sar would be crazy to return to UK shores to do a phase 2. We've spoken before about how broken public services are right now. I don't believe the recent report that things have improved. There is no guarantee things are better and I also think there are wider games being played.

We have developed a (positive) relationship with authorities down under. Our molecule has already been authorised to be put into humans and presumably we are aware of the infrastructure required to conduct a trial. I remember reports regarding how many psoriasis patients there are in Melbourne and consistency between phase 1 and 2 trials will avoid duplication and with the relationships already established, will surely speed things up. It's a no brainer. It would be madness to bring operations back to a stagnant and broken Britain.

Robin Hood, discussion about AVCT is, with respect, bonkers. They are currently doing dose escalation studies in phase 1a. To link recent news with AVCT is desperate, deluded and utterly ill informed. I expect nothing less from you.

On the 24th August 2023, Colin announced the joint venture buy in in Zambia. We were promised:

- Over a 2 year period, no less than 2m USD spent in exploration

- Physical activity within the Licence boundaries (including but not limited to mapping, soil geochemistry, geophysics and drilling)

- Desktop studies, laboratory analysis and interpretation of data and results

6 and a half months later, we had a progress report RNS stating we have acquired "a major historic database created by Anglo American plc"

In this RNS, there was more space dedicated to Ivanhoe Mines than there was to anything that Xtract have done. (See RNS: https://www.lse.co.uk/rns/XTR/update-on-zambian-copper-joint-venture-strategy-t9boam901fuw0lm.html )

Now, almost 7 months to the day that this venture was announced to the market, have Xtract done anything apart from receiving a database?

Colin's wage over the last 7 months amounted to around 70k GBP. Apart from getting rid of our money making asset and the above acquisition of some data, how can he justify such slow progress?

We are now 99.8% of our way to a death by a thousand lashes. Throw us a bone, Colin. Get on with man. Do some work. Earn your salary!

BOD seemingly utterly incompetent. Share price down 95%. Peel Hunt are paid to do what exactly? Can anyone name a single benefit that we have from being associated with them? Consolidation was and remains the stupidest move I've ever seen. Some people fell for the "How our share price looks is important" lies. As if anyone gives a sh** if its 20p or 0.3p. "We'll be able to attract more institutional investors if our share price is a bigger number." Honestly, it's utter baloney.

Remember! That is all the context. Mismanagement of the "business" side of things on an epic scale. (Ignore the science, by all accounts is doing rather well) The important point here is they think they justify higher salaries for the above catastrophically inept performance.

Let's get them in a room so we can get answers.