Member Info for cyberbub

No I think the 3M was clearly a sell worked through the day. Perhaps the person who recently exercised 5M warrants at 1p? Anyway they can only sell once! If they don't have any more to sell (or not at these prices) then hopefully the SP will head back north in anticipation of good news in the next few weeks...

3M shares is 0.75% of the company so it's likely that there will be a TR-1 in the next couple of days. Spreadex certainly seems to be selling down, and Tracarta trimmed a few recently. The drill bit will do the talking though - as well as the Americans :-)

£5-6m cap here seems too low, given the resources and the critical minerals frenzy IMO

Thanks for your kind and selfless warnings F1! No ulterior motive, definitely not!

To me it's clearly worth a minimum of 5p today.

If we start getting some proper news (especially the start of gold cashflow in Armenia) and volumes coming in, and assuming the big holders aren't planning to sell any shares in these early stages of development, who knows, we could be at 10p+ within 3 months IMO...

No advice etc

The SP rocketed to 3p back in 2023 when gold was much lower....

Gold has dropped 10% in a sharp pullback from a spike top, but given the huge undervaluation at IMC hopefully it won't make any difference...

Highest volume day today for 2.5 years - and look what happened then :-)

NAI

Personally I reckon IMC is worth about 4-5p fair value today, with gold and silver still rising relentlessly. Ireland is a safe jurisdiction, and Armenia is moderately but not excessively risky - the company and their Czech backers seem to be well connected out there. It's definitely not as risky as other gold jurisdictions like Mali or DRC, for example...

NAI

Freefaller you can see the major holders on the company's website (Sharepicks posted a link below). MVI and two banks and two directors own the majority, then there is an odd looking Belgian nominees account which I'm assuming is being used to 'hide' the holdings of some HNWIs or whales. After all those there's only 7% left. What the actual free float is, is up to people to try to work out. It's pretty small anyway!

DYOR etc

Only 7% free float according to the company's website.

Assets valued at over $1bn in-ground... Yes I appreciate the market only values at a small percentage of in-ground... But even if it's only 5% that's $50m or £40m-odd.... Market cap of IMC at 1p is only £8m...

DYOR NAI

Looks more like a rollover to me. Still shows confidence anyway.

Is there a comparison to Reach here, similar(ish) sector, also highly cash generative, enormous divi, but stuck on a p/e of 3 because the market sees it in structural decline?

Just looking in here. I recall buying some shares in the 20s a long time ago, I think I made a small profit.

Surely 6p (£6m cap) seems ridiculously undervalued, for a company in a hot sector, making deals with big companies across the world, shipping 6 tons to Australia in H1, with scientific backing for its claims and a large IP portfolio?

With all these deals, look at the last results, how did it only sell £577k in H1? Is the product basically dirt cheap? Eg. the 6 tonnes to Australia was priced at only £1k per tonne or something?? Or they make only a few quid per tonne from licensed manufacturing?

Or is it that the big US distributor still hadn't started selling any significant volume, but will do so imminently?

Or does Mr Market expect a placing for say £2m imminently, despite the company still having £2m worth of SBTX shares to sell?

What an I missing here? Is there something I should know? Or is this a hidden gem about to treble or quadruple?

Thanks for any info/views...

When is the prospectus expected?

£1.6bn stated NPV of the silica deposit. (Is it clear whether that includes capex spend for the plant? What market sale price for silica is assumed?)

Say that the market cap will be 20% of the valuation at this early stage = £300m.

We have 3% = £9m.

Assume 30M shares in issue.

= 30p share price target after RTO.

Has anyone got a definitive statement that the £25m fundraise will be at project level only?

Can anyone explain how the £25m, if raised at project level, *won't* dilute AMG's share of the assets?

I'm fully convinced about the economics of the mine itself. What I've not been able to establish is how much of the project-level company will Pensana shareholders own when in production?

Sundrum thanks, that's interesting, I'd seen that all AGM resolutions were passed and assumed (wrongly it seems) that this included their proposal of 30 Sept.

Do you know if the BOD at the AGM explicitly stated that they expect the SP to break $4 'organically' in 2026 without consolidation? That would be a bold statement with the SP having fallen 50% in the previous month.

China, there's an official RNS (30 Sep) where the company says they plan to consolidate the shares to get to the $4 Nasdaq minimum price, it was put to the AGM and passed. So you can't say that the company will be worth $1.5bn with 450m shares at $4 each, as there will be a lot less than 450m shares after consolidation...