Member Info for BodRuncie

As long as he doesn't punch the bursar!

Global markets are tumbling because of the USA. Nothing specific to the UK.

IGNORE. BUYS. VERSUS. SELLS.

I wish this could be tattooed onto the forehead of every PI who posts about this.

There is no volume in SVML today, so price action is close to meaningless.

I am still baffled as to how HEX struggles to stay above the Bagzzz Line (28p).

One day people will look back and wonder how they didn't put the house on it. This has multi multi bagger written as over it!

I've never seen something like this before, so I just want to check I understand it.

Nick Tulloch paid 1p per warrant, for 8.6m warrants (£86k)

He can then choose whether to exercise those warrants by paying an additional 6p per warrant for 1.3m warrants before April 2026, and also by paying an additional 3p per warrant for 7.3m warrants that expire in 2027?

So, effectively 4p and 7p per warrant?

And the 7p ones expire in 6 months' time?

Do I have that right?

That's exactly how Harwood operate.

Listen to any long-form interview with Christopher Mills or his son, and you'll see.

This is from Harwood's homepage:

"Harwood Capital Management Group ("HCMG") has £2billion* of assets under management invested in public and private equities.

Our investment management and advisory services have produced significant returns for investors.

Our funds take an active interest in the running of the companies in which they are invested. The aim is to add substantial value by enhancing the businesses."

*and I would add that "investors" means investors in Harwood

I agree with you. In the long-term, any purchase made last week, yesterday, today, tomorrow, will look like a good decision.

It's just the short-term that's up for debate.

The MKA share price has held up well considering the massive amount of selling. The seller(s) still have more to go, so the PI purchases will only hold back the dam for so long. MKA will continue to trend down until the seller(s) are done.

If I were Harwood, whose business it is to maximise returns, I would tell TRX that I will decide what price I pay, and whether I take re-payment in cash or shares.

If the business stabilizes, I would then look to sell down part of my holding to crash the share price, and then ask for my repayment in equity.

I would then own a massive % of the company and look to take it private.

As for the PIs? Screw 'em. They should have put their money into Harwood rather than TRX.

PFS could be a huge catalyst, but OTC won't. OTC never is, but PIs always think that.

My screen shows the same thing. LSE website error is my guess.

Did you read the RNS released this morning?

It's in the Next Steps section.

" continue to advance the Kasiya DFS, for completion in the first quarter of 2026, including finalising mining fleet design, process plant configuration, and mine gate-to-vessel logistics solutions;"

MMs can only really collect shares that PIs sell, and only as long as there isn't a huge amount of buying.

In other words more people wanted to sell than buy.

So, a collection event? Only if PIs contribute to it.

If anything it makes SVML look *more* attractive as there may be some companies that get caught out by this new order.

If SVML are in good standing with the Order and the Govt, then there's nothing to worry about :)

The drop is probably speculative from the MMs, hoping to flush out some weak holders who wonder if Friday's rise won't hold.

Shouldn't be too many of those!

@barnsley bitter,

that's some hilarious stuff, no doubt, but can we steer clear of the *** jokes? it's not the 1980s anymore.

I'm big enough to admit that I sold MKA at 5p...

I had held MKA for a couple of years, up to 30p, with the pictures of the board lunching with dignitaries on social media, grew frustrated, and sold everything in a fit of impatience at 5p. I was expecting a fundraise, and I thought I would buy back in then and increase my holding... and I was right. There was a fundraise shortly afterwards. It's just that the fundraise was done at a premium. Doh!

I bought back everything at 9p and just took the hit to my wallet and my ego. Then doubled my holding around 17p, then doubled my investment again at 38p. I added a small tranche more this week at 56p. A silver lining of all this is that I was so annoyed with myself at having sold at 5p that I went bigger later on than I would otherwise have done, to try to overcompensate. I'm glad to say that it has paid off!

I'm not going to make the same mistake with ARV. A dropping sp is a chance to add, rather than lament, I have learned to my cost!

Just topped up, a shade under 0.40 :)

You'd be "hopping mad" if you'd sold at 49p this week!

I'm less concerned with the presentations and more interested in the bottom line numbers.

Small-time PIs buy in on presentations and having their hand held with being drip-fed information. Big investors and Institutions buy in on bottom line numbers.

Many investors and IIs will not buy pre-profit companies. It's a hard and fast rule for many, especially those with deep pockets, and especially with the increasing prevalence and ease of stock-screening software.

Spending money hyping the stock at the pre-profit stage for ITX will be like a sugar-rush, attracting story-stock PIs in the short-term. And once that spike passes, and the usual AIM drift sets in, the company ends up with a PR bill and downward momentum when the short-termers sell out.

It's uncomfortable being invested in pre-profit small-caps. It takes a lot of patience and luck. It often requires deep pockets to increase a losing position when the conditions are right. Pre-profit small-caps are the best place for PIs to lose money in the stock market. High risk and not always even high reward on offer.

ITX were on the pathway for growth and breakeven a couple of years ago, but had to take a step back and make the painful (in the short-term) decision to lose a low margin (5%) but high volume customer. The loss of topline revenue set the company's metrics back. It was a hefty blow. But credit to the mgmt for having the guts to do it. The Busy Fool model is of no benefit to the company or shareholders.

The after effects of supply chain disruption from Covid, and from the ongoing taco tariff fiasco, don't make it easy to run a company that reaches across the globe both in terms of sourcing raw materials and exporting finished product.

However, ITX just reported their best ever HY results, showing increasing partnerships with large corporate partners, new TAMs, improving margins. ITX are a small boat on choppy waters, and despite the lack of personal charisma in their outward-facing presentations for PIs, are navigating it well. They have raised plenty of cash at higher levels, so there is no risk of an imminent fundraise.

ITX are back on track, but lacking the momentum of a story-stock for PIs. However, if ITX reach breakeven and subsequent profitability, the investing environment will change. ITX will start appearing on all those stock screens that look for EPS Growth, Revenue Growth, Forecasted Growth, and Profitability.

It has been a long struggle. There has been a significant opportunity cost to continuing to hold ITX in my portfolio. No doubt everyone on here is underwater and p*ssed off.

But I would make the case that now is a good time to accumulate in ITX. A £14m mcap is very low, and if it remains at these levels while the company transitions to profitability (which is what you suspect/fear), then it starts to represent outstanding value.