Member Info for cowbridge

I see we peaked at 10p and then the fund raise was at 8p and a one for one warrant

i wonder did the decline in the price happen as word got out of the 8p raise or was it just a normal volatility, if it was a former then. a big discount?

i see Afp got a raise away at a 15% discount without the need to offer any warrants?

I am sure going forward the non exec director will be all over this - this is a very tightly held share with the top six owners owning a lot so the importance of protecting minority share holders is even more important

i think the next raise should be to all shareholders not in the last raise and on the same terms

so a slight discount on the market price but with one for one warrants at 25p irrespecitive of what the price then is

as that way as george osborne said we are all in this together

someone said to me there is no issue you too can join up with a lot of brokers and get warrants on fund raises as they call in

but that of course is not the question the question here is are the minority shareholders being treated in the same way as the main shareholders

and are the non execs earning their oats

you could say they had to offer warrants as no one in the city believed the edison report but i just think once the 25p warrants are offered to all the shareholders there will be a take up on the offer the broker need not worry they will be pleasantly surprised

I can buy at 0.026 and the raise was 0.022 so that was a 14% discount?

surprised they could not raise at a premium with such a high chance of success and drilling so near

but i guess the broker didnt have the distribution?

I also think if they go done the road of issuing options to management they should be priced at say £1.17

moving non complant assets into jorc is the day job and what the salary is for

the rewards should come only if we build a mine and get into production and ideally several mines

From memory many years ago i bought red rock resources on the basis of an edison report that had the share on i think 6p and a target price of 60p i bought and it reached the target price they had a few different projects and i was very hopeful i dont necessarily criticise the management breaking up rock is a hard job to do in difficult jurisdictions but none of the projects came off and the share sank back down

so the proof of the pudding is building the mine and that is when the rewards should come in for cash flow and a dividend

A great share to be in as the company has bought assets at a fraction of the cost of the work done

The edison report is giving a mean valuation of 25p with a valuation range of up to £1.17 if the non jorc data is proved up for example eureka is worth 35-40p if the work done by Penoles becomes JORC so i am happy to sit here for the next few years and hope it is all proved up and it should be a lot higher at the end of the year

So this is a development story not just an exploration story

that said due to the above i dont think i would be issuing any warrants at 16p as i think there could be a lot of hidden value already here without any extra work

you risk people selling the shares and keeping the warrants?

i think warrants work in the pure exploration space were the risks are very high and it is very hard to getting any funding and so people have to really encouraged to invest i would have thought however there is already a lot of untapped value in this share and there should be no need to offer extra warrants as an inducement the share is already very cheap that should be enough?

Personally i would rather a minor discount than the issue of warrants but then the shareholders are not really in charge, the borkers will of course say you need to give warrants but i dont think you do!

i like zaks traders cafe and his interviews there are too few small cap websites the more the merrier and he gives a daily commentary on market moves and his thoughts - and then of course you have to do your own research for most of them it is buyer beware but its still easier for me if he spends the morning reading all the rns

the interview points out that the geologist they have brought in for pareira velho not only led the appian technical team on the project and found the project but has found other multi million gold deposits and was involved in the sale by appian of the nearby brazilian gold project - so that is ok for me if he is willing to bet on this himself! building a mine seems to me just as hard as finding the ore in the first place and both are very difficult

the gold assets look to me to be much smaller than the copper and the silver assets but have the advantage of early cash flow so potentially could be as important to the company like a three legged stool. there has been some criticism that Pacific bay minerals did not raise the funds to take on the project but their market cap is currently only around a million so maybe that was a big ask for them rather than they didnt like the asset? I agree the grades are not super high but the geologist is coming over to us and appian are coming on board so they must think this albeit on a small scale can come into production quickly and the metallurgy works so that is fine by me!

vale la pena

Final thoughts you could have a little cash from la nortena this year then maybe some cash from pareira velho in year 2 and maybe even cash from eureka in year 3

i would expect some slippage on timescales but all look like they have an element of a simple near surface open pit at the start of prooduction

so that is how i see this

Agree its a risk as at the moment eureka is not jorc compliant which is why we have the valuation we have but when it is jorc compliant it might be too late to get in?

charles archer's analysis also mentions potential for much more placer gold and deeper probably copper anomalies that have not be ever drilled and would change the economics

you have to decide if that is reasonable or just hype and i just take that as nice upside potential but without attaching any value but definitely adding to the story

i dont have a problem with eureka being sold to ajax as it was on the wrong continent for bezant and crucially never actually drilled so they never really took a good look

Just thinking aloud - happy to be corrected and put right

i like all of the projects but i note that the first project eureka and its extension la nortena are the only assets listed as projects on the website as i guess they work through due diligence on all the rest. so i prefer to keep it simple at this stage and just focus on eureka and la nortena

if we look at edisons valuation they give a range of 25.2p to 117.3 and eureka represents 21.4p to 40.2. p of that valuation. and we should have a good idea on the exploration potential mid year - but this is not raw exploration this is two big companies who probably did very professional work but did not need a jorc report as it was only for internal use - that is why i feel the odds of the valuation moving to close to the 40.2p level are reasonably high this is not blue sky exploration. Penoles last review thought the resource was 35p in ajax share terms and 40p with exploration potential, so i want to be positioned here at least for the next six months as the drilling continues and anything under the 40p valuation seems to me quite cheap considering all the other assets that i have not mentioned. the 40p is not the npv at the end but what those assets are worth in the ground to a listed company at current prices so to me a real current target price? might be a bit of gamble to stay in at 40 but you are covered by the previous work and the value in the other assets so i think this has been set up well

my main question was when would a jorc be ready and they said in the crux interview about june so i am happy with that and it will need some funds - not sure if you can use part of the old core?

the cash flow from la nortena means they soon could be cash positive which means they do not have to go to the market and in my view if sadly they have to do fund raises then it should be at the current price or probably a 10% premium this is now not a struggling explorer but a developer? the exception would be when you need to raise funds for an acquistion as then you have no choice you need to get the money immediately but with the boss owning 18% of the shares we are all aligned and we all want this to work

Very impressed that Appian have built 9 mines in 7 years, if you go through their people profiles they have people on different geographies, metallurgy and mine building - just so impressive

i invested in alexander at some point in the past so think i can recoup my tiny losses there from Ajax! - a tiny amount of the 20 million spent on leon by alexander was my money! so it would be great to claw it back

interestingly does anyone know if ammleach actually worked what happened?

Rebs438

yes i think tom was the main man i look on the website and they only have 2 directors and they were both there

they were good/ ok but it was a limited meeting and they said what i wanted them to say and that was enough but a good presentation

but they were very open they said ask anything you like and they talked to us for about an hour so could not fault the board at all

if there had been more people then there they could have been more better questions

i had seen on the bulletin boards before the agm that there was some move to remove dirctors but i have come into this later and had not dug into that and did not know about the copl connection

sadly i am a shareholder in san leon energy so if i had realised he was potentially an expert? on nigerian oil i would have had a few more questions the last i heard Mr Fanning had been on that little boat that went down to view the titanic - so i am hopefully that he might be a lucky guy and we relist and it does not join destiny pharma and molecular energies my broken dreams

Hi i was at the AGM back in December

there were two directors there and two private investors

management seemed confident they could rearrange the loan, it had already been extended before so that was a possibility and if not there would be other sources of funds and they wanted to close the valuation gap and i suspect they wanted to sort the loan out before going out to the media

so i came out of the meeting thinking this was a good risk reward valuation and i liked the management thought the meeting went well

the videos of the weshop ceo i think are quite impressive and they have dry run the system in the uk and the tech works and the population is five times as large and twice as wealthy so if it gains traction it could be very successful as it is a different model to its competitors against that it is starting up so it is very hard to value at such an early stage and the valuation is much higher than what they would have got in the uk but again the right decision to go to nasdaq

from memory they also would need a small amount of extra cash for admin but that could i guess be part of the new loan

there was a lot of it set up costs but if this work this ramps very quickly as fixed costs stay fairly fixed in my view and it becomes profitable?

the plan i think is to either distribute weshop shares or cash depending on tax advice quite soon after the end of the lockdown i personally would like to treat my sales as capital gains but it will be what it will be

i guess if the loan is sorted it should go to 50-70% of nav in a perfect world and then fluctuate in line with the weshop price? the only difference here against an ordinary investment trust is they are going to turn wecap into a cash shell ready for a new scheme, as i do not think the other investment is worth that much so i guess near the end of the lockdown the share could potentialy be trading at 95% of nav a week before distribution, maybe?

the risk is the valuation of weshop and the liquidity in its shares

it is not given i think that all the shares have to stay in lockdown until november this year as i understand a proportion if the company allows could be sold earlier in the year to prevent all being available at one go and an orderly market but i think first weshop will need to give a couple of updates on how the initial set up has gone and their initial forecasts as you would want it to be a bit bullish?

anyway this may all be wrong but that was how i interpreted the meeting hope might be helpful but i am invested and good luck

It seems to me both icn and imm are in a similar boat

have massive potential but both need a partner announced which will would change sentiment

somethings are beyond the control of the management so we will just have to see what happens and what interest they get

but plenty of potential

Not as much of an expert but thought the report was fantastic too

Knew the copper grades were high and liked there was a separate silver mine

i did not understand how you could have a report with a resource but it was not JORC compliant but as it was done by the state mine they were not bothered if it was JORC complaint they just wanted an idea of what was there - therefore think this is a good bet for redrilling though not sure if the core already drilled is there to be used again?

like to take a value of say 5% of value in the ground to give an idea at an early stage of what is possible and like they have backers who can back the project right the way through and will probably support them

could go up to 12-25 before drilling or might not move until some results and confirmation of activity but think this is well set up, then the alluvial gold could completely change the picture and allow moderate internal self funding i think if it all worked out so an intriguing share

A lot of chat but on ajax.pl not ajax

Augustinus bader story is that he was a skin scientist and i think was working on burn victims

sk2 story was that it just worked and was noticed in the facotory

viagra was for blood pressure but had side effects

maybe our story is that we were researching skin cancer and by accident we found that that patients skins improved! Maybe like the website to tell a story if possible to ensnare loyalty and why you have to have the product

The christmas sale has started with 25% off

I notice augustinus bader now sell their cream from £77 though it is only 15ml not 30 so much more expensive but slightly cheaper than us due to small size but we have cheap hand creams but then they go for their elixir at 435 for 30 ml so they have offered a wide range of pricings it would be good eventually to widen the price of the serum and the eye cream from the rest of the products which you can discount a lot and push on instagram but probably not at the moment while we look for sales

i also note when you click on the ab science heading you get the choice of 6 separate pages 1 about the product company 2 trials 3 about the founder 4 about the current research 4 blog 5 press releases 6 sustainability and ethics - for me the web site needs to stand alone separate to the advertising and the channels and really persuade you to need to buy the product and read a lot about it

i remember a prodcut 20 odd years ago that you could buy in harrods from japan called the sk2 essense and their story was they noticed that factory workers that made sake had very young hands and it was one of the products from the fermentation of the sake that had caused this so we just have to tell a really good story while we wait for, it is still going song and they sell one bottle every 2 seconds apparently but i have always loved the story behind it

My girlfriend has just received the cream and the serum - the packaging in a white box and the gold bottle have always been good. it is now in a grey tray box of dark red crumpled paper contrasting well against the smaller white boxes holding the cream, with a discount code card showing a swiss lake and i think the look has improved it and it really looks classy and lush - so i think they have incrementally improved the look and it is really good she is a big spender and she thought it was a classy product could add a booklet or something i liked the before and after photos on the genaura web site

personally i would eventually raise the price of the serum but offer heavy discount online for the face cream and the other products so you have basically 2 separate markets

There is an article in todays times about a fitness influencer grace beverley who launched a fitness plan book on social media on boxing day a few years back selling for £35 when she had about 100,000 followers and by the end of january she had 80,000 profit so think we need to just get pricing and marketing right and we need to find the right influencers but still everything to play for, she now has over 2.2 million on line followers and her wellness brand is worth 70 million

I was disappointed on the 6k sales but then i checked the website and it only went live

Incanthera plc (AQSE:INC), the company focused on innovative technologies in dermatology and oncology is pleased to announce the launch of Skin + CELL, our premium skincare range, on Monday 11 August 2025.

the year end is september so it first six or so weeks of sales

the internet promotional strategy probably only started after the product launch so really just depends how fast it is now increasing sales and what the projections are?

but yes a jv or at least a new channel is now probably needed necessary and it helps the product is live with actual reviews

on the internet side they need to use ideally someone who has created a major brand from a standing start before ideally and an asian and north american strategy

glossier, huda beauty and colorpop all came through instagram promotions and the use of social media according to chatgtp though to me the instagram route is probably a lower value product route when i look at them but others would know more!

the dna is in the technology lots claim benefits but few are actually university spin outs with published data

i look at genaura which launched at roughly the same time and has had magazine adverts internet banner ads when reading the daily mail and a small mention in the sunday telegraph magazine and maybe a slightly slicker instagram but their instagram follower numbers are only slightly ahead of skin + cell cannot tell sales but dont know how they are doing but have probably spent more on marketing and not clear it has lead to much greater sales

i think a high price serum going down to much cheaper products like the hand cream that i guess you could use on your face if you didnt have the money! still seems a good strategy and i assume it was what was originally advised by Marionnaud

and can we not persuade Marionnaud to come back?!

Rns today this summary from zaks traders cafe

Incanthera (AQSE:ICA), the company focused on innovative technologies in dermatology and oncology, presented its interim results for the six months ended 30 September 2025. ICA said “This period has seen the launch of our Skin+CELL skincare range launched globally via our dedicated Direct To Consumer website www.skinandcell.com. Establishing any new brand into a marketplace takes time, however, since launch, we have seen steady increases month on month, in traction across social media, hits to our website and conversion to sales. This is recognised in the positive feedback we have received from all users of the product range, unanimous in its praise on the dramatic effects on their skin, across all demographics.”

Comment: Having tried the product I can say that it really should be on sale at more than just the company’s website. It should be a Boots / Superdrug job. It will be difficult to get traction however good the Skin+CELL is, without mainstream distribution and awareness.

i dont mind it starting slowly but a very good product and it should be able to get the deals it needs now makes a big difference to have a prdduct actually on sale with customer feedback available, month on month sales increases and expanded marketing but we wait for real news, i think you can do suprisingly well using instagram and direct to customer with no bricks and mortar and you get a better margin but you need sales to plough back into marketing and promotion so it has to build slowly but you do not necessarily need to sell at the chemist but that would work as well

i see medik8 as well as online sell through cult beauty sephora and space nk so it should gradually happen higher sales allows higher marketing that allows higher sales hopefully, would like a few more pages on the science on the website but that could come with the planned launch of the sun protection cream

The one page website only has accounts from 2023?!