Member Info for CaptainSwag

"The £100m line was so so unrealistic and had no basis"

well it was the jam tomorrow that we all wanted to hear. Unfortunately there is no accountability for vague positives.

tbh it was not inconceivable at the time with the portfolio of products and cash in bank.

lets be honest i think everyone is surprised at how bad they have been at generating revenue..takes a real talent to fail so miserably

I agree that a massive shake up is required...lets be honest it has been a rudderless ship for 2 years now

It is unbelievable that the gains (80p) from ygen acquisition have all been lost

Agree with p100.

I don't think any blame can laid at LR at present....even though i am not a fan.

existing ncyt bod are fully to blame with having no apparent clear direction on post covid strategy....WTF are they doing?

P100...i am agreeing with you.

Salad man bad ...replacement bad...

I honestly did not think we would be dropping like this...bod need to get finger out

Wilson...agree with you that at least ygen CEO has some get up and go.

Bit unfortunate he slaughtered the SP..

I wasn't keen on him...but we do need things jigged up a bit

The issue is that ncyt have given no indication how they are going to monetise ygen. They said they might take up to 6 months to assess.

So basically we are in a news drought again...speciality of ncyt...which on aim means only one thing erosion of SP.

I suspect some have got out thinking to get back in nearer dispute resolution. The feel good factor of ygen is disappearing with no news.

Personally I don't want to have waited all this time..to get out and then be surprised by hopefully good news on resolution .

Plus there maybe another surprise addition.

But am fully aware that the price could drift .

Just a shame that the company don't seem to do any pr..investor presentations on stock market channels etc.

And are rubbish at end any activity that they might be doing in the background

Ice cram - 40% sale of mine L1 was a worst case scenario - but still preferable to me than a placing

how much of SP reflects L1 or all of the company - is hard to say...you would think that the work done is worth a lot more than current mcap...which is obviously fear affected

When i said sell 40% - i meant of the mine - leaving them with 100% of the other projects....if they get the whole thing moving at that cost - they will have done well.

of course i am sure glencore would take 40% of company....maybe another reason to hope against massive dilution.?

The 20p nominal value has put a floor on the SP...MMs don't like being overexposed in either direction as they are responsible for an orderly market

companies can't place below the nominal value - but that doesn't mean that they cannot change the share structure to change the nominal value eg consolidation. but that usually has to be voted on by SH.

The big 3 are SH like us - and so will accept a deal that would put them in a better position afterwards. it may be that they get offered this.

on the other hand there are possibly other options to raise the money - super high interest loans or selling a chunk of the company etc.

even if it is $200m - that is not very much for what the end prize is. personally i would be happy see then sell 40% of the company to glencore to cover the additional 35% cost

the market has been conservative - putting SP at current lowest possible placing price

Shorters have figured on either hzm cant raise cash (and go bust) or there will be massive dilution (5p etc)

others are out waiting for clarification of finance - but once it will be announced it will probably be too difficult to get in quick enough and the SP will be off

lth are just hoping for the best

recent SH are banking on the damage having been done and it is up from here

I have been in and out over the years- always keeping an eye. Was looking to get back in after the last good update.

i consider the crash to be an opportunity - have bought chunks at 30p / 18p / 23p etc.

so sitting on a big stake...risky...but if the financing is anything other than a massive dilution - I will be very happy

Well the MMs have killed the volatility and kept us at the 20p nominal share price - hence the traders have disappeared.

they don't want to be exposed too much in either direction.

it will prob stay around this price until news or a rumour surfaces.....unless of course someone starts accumulating.

the big boys are unlikely to sell...and the pi have probably decided whether they want to stay in or get out by now

the real cost should be released in just over a month - question is will they know enough to have a figure to secure finance beforehand?

interesting times

Sh - I don't think they currently have any debt and have cash in bank from selling off the decent stuff in the portfolio.

the issues are

a) will be they have to pay the gov back? up to £2.5m

b) as they are currently not making a profit - as alerted by the company - the cash will continue to be ate into

to ensure survival they will have to turn things around - the question is if it is something they are able to do.

it is one thing saying the company are "confident" but in reality it is meaningless. Unquantifiable and not something they can be held accountable to.

it is a very light smear of jam tomorrow with no substance to back it up

Good post Lawrence.

Was never in sxx..but I suspect they were not 65% completed ?

The market has assumed the worst - a placing. Which at present can only take place at 20p or above ..hence why we are bouncing around here.

If they come up with any other kind of deal then the share will fly.

Even a placing at 20p would mean a sharp lift as people would have security.

The only way they can place under 20p is changing nominal value..eg consolidation.

I am guessing this would need share holder approval ?

Would they get it?

Same as tradesin

Anthony - you are quite right.i would have left this board a long time ago..if I had not been continually pestered on here and followed onto other boards.

However I will not run away in the face of poor behaviour.

So it has had the opposite effect

Boys - any comments on the share?

Val..until a variant of COVID comes out that is much more severe ..I don't think testing will ramp up to anything near what it was.

If we get an increase in COVID sales ..then great ...

But focus really needs to be on ygen stuff in my opinion.

We bought it..now let's make some money from it

Trades in..you could well be right about overprice...

Will be if they lose gov dispute

Some on here talk about savings on costs...

But they still can't run at a profit.

Company has already advised that this will be a loss making year and cash in bank being eaten up

"no mention that the major AIM index has fallen 50% from it's high point in 2021 and heading for the Covid low back in 2020, no wonder this share price and others have fallen so far."

AIM has fallen because there is so much xxxx out there and speculators are wise-ing up...or most of them!..lol

the index has nothing to do with the sp- that is all down to the company

"Oh well, the clock ticks towards November, those 90m warrants come out of the (takeover) equation and we will see."

my prediction is some more thinly smeared jam..eg "company has sold squat diidley but is confident and looks forward to updating sh in xxx months

.....

and all on here can say "lets wait for next update..."

anything big would have to be RNS....no rns = no candy

Dsaf..true another dismal day for the non share...lol

Not that any holders on here seem to care...cheese is allegedly making zillions elsewhere ..etc etc

Harchris...I would love to see some director buys..we just had update..so now is the perfect time

The gov dispute will be a game of chicken or court. Either way I think we are months off .

We need something to kick start the SP again ...if they are going to take 6 months for the appraisal of ygen...then some director buys would do no end of good

Wasrunner - the fact that we have 3 big shareholders is another reason i don't believe in the huge placing we would need to fund $200m shortfall. i agree glencore alone and it would spell trouble.

don't see how mancha and orion could be decimated..whatever glencore fancied getting up to.

is $200m impossible to raise other than a placing ?- i don't think so

the problem with management is not needing more cash - can happen. but to quickly issue that rns after one with everything is on track

the company has a lot of assets ..i still think selling a chunk of this would make sense to get first mine off the ground....income from that could then fund other projects