Member Info for Crocqman

Agree, MyIPA,

This is a different business to that of 2 years ago.

Despite being well down, like many, I can see this.

I do expect the SP to improve at some point on news, but certainly do not expect to see the false highs seen previously any time soon, or the high and totally unrealistic, imo, valuations being bandied about.

It's all well and good saying North Fork is coming on line soon, but we have been hearing the same thing for almost a year and little news on actual progress here and elsewhere.

It really doesn't help with Simms and his wildly optimistic (and simplistic) valuations. 3m mcap plus 2m cash receipt does not equal 5m mcap.

This was always a long term hold, but the timeline keeps moving the wrong way and management needs to deliver to address this (to be fair, I've been saying this for over 3 years).

I believe that they are on the right track with their business model now, so will hold and hope to recoup some losses, no chance of adding, or averaging down though. But, we will not see SP of 10x, or even 5x what we are seeing now, even in the most optimistic of forecasts and delivery.

I get the past is something not to be forgotten, but don't get the point of continually banging on about it all of the time, especially when you can plainly see the business model is different to what it was before, even if delivery to date does not represent a change. Those with massive losses should seriously think to move on, it is not healthy to hold onto the anger, accept the hit, not every pick is a winner. I have time to wait, and can use this position to offset gains elsewhere as I have done so already.

gla

If an investor is putting in a significant stake (+10%), they can certainly ask for a position on the board to ensure their investment is managed efficiently. Whether that would be a CFO is another matter. Would this need to be approved at an AGM/EGM though?

Plenty of 'what if's' here at the moment.

I was surprised at the level of pre-trial investment announced. The larger 2.4m level under discussion would seem a more reasonable figure for a trial than what has been announced with a larger amount again to invest further if all good. This reads more to me like a discounted advance purchase order type deal rather than a financing agreement which would allow real growth, although noted that there are separate discussions for development finance for the Moz projects. Hopefully, this will be a more significant investment.

I do hope that Shishir is not being stubborn and going down a lower level route just to retain control with no outside influence.

I have always stated that there is a viable business here, we just need to be shown that the downsides of which thetr have been many over the last 18 months or so are being taken seriously and that change is occurring to ensure the company is in the best shape possible, and that the bod is working not just for themselves but in the interests of their investors and shareholders.

It shouldn't be too much to ask, but is often a common theme across the small cap space in particular.

gla

Seriously, Gingy, why are you so nervous/anxious about every tiny event here?

Every day you are fretting about one thing or another and only yesterday you said you would take a 'chill pill' after the SP did not react to a RNS event that you seemed to think should have resulted in a substantial re-rate.

Filtered. Sorry, but the need for constant reassurance on a daily basis here is tiring to read

Suspension won't be lifted without filing of accounts, still slated for before the end of 31/12 with the extension granted.

Doesn't matter if finance is sorted before this event happens it will stay suspended until the FCA is in receipt and approves the lifting

Well done Brokeinvestor, you called it. Absolutely nailed it again.

Oh, wait.

Pathetic troll

Buys may be 'steady', but look at the volume.

Sub-1.6m reported shares at present out of a total of over 4bn.

Less than 0.05% volume is tiny.

This needs a steady daily volume of circa 40m plus, or even higher still, imo, for real signs that a corner has been turned and any larger investors are seriously building positions

Posted too soon.

Finance news and then any off-take are the likely drivers for any bigger SP moves ahead of production, coupled with works continuing on-time and on budget. Maybe a big fish partner.

Tin price useful currently for finance negotiation in the short term, but no real point checking this daily, imo

gla

I think the majority expected jam to be a long time.

Agree on the better and best scenarios.

It is the financing arrangements that will potentially push this higher in the short term,

depending on the terms.

News on work progress to confirm schedule is on target.

When for any potential off-take, too soon for 2025 maybe?

This, and fina

Maybe they are still waiting in the information that was expected at Q end before they can release this?

Hardly a 'broken promise'.

Would you prefer that they release incomplete information, no doubt which you would also complain about for not giving the whole picture?

Talk about going out of your way to look for negatives.

News on funding will lead to a rise, imo, perhaps to a 10-12 level, depending on terms.

It may be a while until production, but once they get to a certain stage and all going to plan (time and budget), I would expect an off-take agreement to be signed ahead of production, so 20p perhaps not unreasonable ahead of production on this basis.

What impact the upcoming budget, interest rates and U.S. election on UK and World markets over the next month or so? Not to mention ongoing Ukraine and Middle East situation, all not helping in terms of small cap investment from PI's and bigger fish.

This is currently my only small cap holding in profit (1 out of 7)

Spammer. Reported

Small trades could be part of a larger order being traded over the day, dealt by algo, and then processed at then end of the day as a single trade for the total. Idea to drip the order rather than a large trade for liquidity purposes and to not move the market unnecessarily.

Another possibility is a program trade to satisfy a subscription or redemption to a fund where the total portfolio has an equal slice taken to maintain portfolio weights which can result in small trades. Unlikely in this instance as you would expect tiny trades to be removed.

Also, it could be a platform selling down shares to cover fees, again it may have instructions to trade pro-rata across the holdings to do so.

Plenty of possibilities as to why, but no certain answer, although fairly safe to say it is not a PI placing an individual trade(s).

I think double figures by the weekend as 'reasonable' is a bit optimistic

Non-dilutive is good, but seems odd given the financing update received only last week.

So, presumably it allows a decent buffer to continue works in the meantime and a target date for negotiation and completion of financing arrangements.

Decent return for VBR in the short term

It just highlights what I've been saying for a while, that it's pointless wasting time, money and energy with the UK market at this time. There just isn't the will or the support to make it a sensible market now, especially with the change of focus for the company.

Concentrate on those European markets where there are better opportunities, and use North Fork to try and expand grow in the U.S. should we ever get news on what is going on there.

Plenty of of markets available elsewhere to make money and to prove and improve the tech until such time as the mindset in the UK makes investment something to consider, and from a sounder footing with better terms to be negotiated

Just coming back to say that TGR did finally respond to my email(s) last Friday.

OK, it was just to notify that they had provided the market with an update, including a link to said news release, but at least it was an acknowledgement.

As part of their mailing list, I received an email today with what amounts to a repeat of the RNS, but with a corporate video of the Madagascar project. Although it seems mostly shot in Feb 2024, it was interesting to see how much has been done to get to the production stage, regardless of everything else going on. It reaffirms (to me anyway) that there is a viable business if they get the funding sorted and the right people in place. At what cost to existing shareholders any funding package may take is another matter entirely. All hope not yet lost

Nice to get this update and know that something actually is going on in the background.

It must have been my email that prompted this ;-)

An ongoing income stream despite low output, and continuing vat refunds suggest there is life here and a viable business if they can get funding, further hires and the administration sorted.

I think the CLN situation can be overcome under the circumstances.

I presume the extension on the accounts means continuing suspension until such time as they are released and the FCA allows trading to resume, so a further wait there but at least we have news and a timescale for this now, albeit longer than hoped for

Good news.

Suggestion from some was that a raise was imminent back in the summer and likely before Q3 was out.

My feeling was for Q1 2025, so news they are looking at Q2 for completion a positive in terms of cash management and no surprises coming to light with works.

Interest rates expected to come down so hopefully a good deal with limited, or no dilution will be available. Ongoing support for the project from government in whatever capacity that takes should help negotiations too.

All still going to plan and time here unless informed otherwise.

gla

The new listing will not make any real difference to the SP, imo.

On the back of this heavily discounted placing, I expect that we will be now stuck around this level until we get confirmed news on the CEOL actually being awarded, although this does seem highly likely so may already be priced in. And look how delayed this process has been already, not a good sign however 'on the ball' the company may be with their applications.

While they may be getting everything done properly on the permissions front for achieving production, clearly the same cannot be said for getting the correct info for the ASX listing, and they have not been transparent as to what the 'procedural matters' are that have resulted in the delay here which has resulted in this urgent need to raise.

This will be a long process to get back to even the pre-placing price, I fear.

I bet there were existing shareholders keen to add shares at a near 25% discount, but only the Institutional ones, of course.

Those who will participate in the ASX listing will no doubt benefit too when this returns to the table.

As always, the PI's get shafted and are left with an even longer wait to get any returns