Member Info for dropside

In the end though, what matters most is what is happening 5,000 miles away. I wish they would just put a webcam on the primary crusher then we could all see for ourselves if the line is running!

That is assuming the CLN and other holders have sold out though? I was told particularly the pre-IPO lot were thought to have a longer term interest in the company and would be fairly stable.
Don't disagree with your basic point though, whatever the actual numbers there appears to have been an overhang driving the price down to this point.

That is a large buy announced for Friday. It must have been a buy too, based on the price which was above any other transaction that day. Yet the price fell on Friday, how does that work?

Well the good news is you can now sell £5K worth (this afternoon it dropped to £200), for 1.425. So the pressure looks to be easing. Still a rubbish price though..

Bad luck GS. I have similar hit but not quite so bad. It's a poor show that the mine equipment was not checked out more thoroughly. I'm not sure who is managing the mine day to day and their experience. I'm not saying they don't know what they are doing but I 'd like to know who is there.

Key now will be if they can get the finance quickly to stabilise the process. That will matter more than the terms of the finance I think (warrants etc). Need to get the mine running well to hit the April repayment in particular.

Can now buy at 1.52. Theres a good size sell order being worked for sure.

You can still sell £2K but I agree there is a large sale in the background now.

Maybe the seller was around yesterday though it is not certain when that late recorded sell was made, it is not showing at all on the HL site.
A few weeks ago there was a big seller who appeared usually on a Monday and always after 2.30, so probably US based. Then they disappeared but they helped the price to about 3.5. Recently there has been heavy selling which has counter-acted a lot of smaller, probably PI, buys. Who is selling? The big shareholder asserted themselves at the GM and should now be in sensible conversations with Roy. They are unlikely to sell at the first whiff of trouble having built a large stake and also in conversation. So someone with less than 3%. That means they can only sell around 8m shares max and that near enough has just been sold. So they should be done, unless there is more than one big seller of course!

Seller doesn't look to be around today. Just tried a dummy sale for £5K and they were happy to take them for 1.55. Made a purchase instead, agree McFirth this looks like the bottom, onwards and upwards from here with any luck.

Topped up twice today myself. Time will tell..

Great thank you.

Dropping like a stone

Hi GS, I'm not saying you're wrong but where do you get that figure of cash flow breakeven at 450 tonnes @$ 2.75?
They just broke even in June, the Q2 volume was 650 tonnes, May was about 120 (on presentation) so June must have been 530 at $3 - and that was breakeven. Maybe I've missed something. Thanks.

That must have been what caused the damage:

16:39:51 3.20 GBX 1,000,000 32,000.00 Off-book AIMX LRGS

I would agree with that, the PLC failure sounds the most difficult and that would depend on availability of on the shelf parts. Stop-start operation is the worst for process equipment and that is what they had from Q2 on with the mining issues. More spares and growing knowledge of the equipment will put us in a solid position. 10 years is not that old for equipment but the maintenance over the period is a bit of an unknown. Once this is achieved with steady state production then things should be much more stable.

McFirth, I'll take your word for it, I haven't got level 2. I just couldn't see any other reason for the bid and offer to drop other than a delayed sale. Hope you are right.

Any of us who bought in the Alecto days are feeling pretty sick right now.

Looks like another big sell in the background today.

Where we are now though, the share movements over the next week or so are much less important than the operations update we will get for Q3. They need to meet the promises, if they do then fine and it gives confidence for Q4 and then the re-financing. If the latest production forecast fails then we are in a spiral the other way. On the positive side, I can't imagine the two directors recently got on board without some confidence this was going the right way, no one would want to jump on board a ship going down with all hands.

https://www.wsj.com/articles/copper-surges-on-softer-than-expected-tariffs-1537279672

Helpful to us..

Oh yes I see what you mean about Matala, it does read as if we have prime responsibility...

Matala yes, this is Makala.