Member Info for DrSilver

At tomorrow's AGM, look for further update on the equity raise. This was a precondition of the recent bond financing. I wouldn't be surprised if something is announced tomorrow. All looking good from this company with excellent progress technically, proven previous exploitation, government investment and a major bond financing deal in place. Just need the equity raise to unlock the finance and hopefully a positive FID in July/August. The terms of the equity raise will be important. Watch the SP carefully once announced. Probably a dip but this should be temporary.

I have just voted Against to all six resolutions. If you are invested by ISA, you may need to request your provider to vote on your behalf. Be aware that the vote closes on 16 December if you are not going to be present at the meeting.

I'd rather the company goes into Administration than see my shareholding become worthless when the company goes private and the CLNs convert. If you are new to CLNs, basically Harwood will own almost all of the company (>90%) by converting £800k into shares. Anyone else will be left with virtually nothing so all the chat about trading after sale is irrelevant.

I strongly agree that the company has been grossly mismanaged and agree with the suggestion that they should be reported to the FCA. This should not be allowed to happen. Companies fail and I totally understand that as a private investor, but I believe that I have been making investment decisions based on false and misleading information and certain parties will profit from this enormously.

SP and CLN terms won't lie. No room for sentiment.

@Icecool we clearly have different definitions of distress. To me, when a company has run out of cash, is not net cash-generative and has recently been managed by people who have repeatedly incorrectly stated key financials, that’s at the very least a significant problem. I hope the company can be turned around for the benefit of PIs (I have a significant shareholding) but I fear that the terms of the CLN will favour others. I will be delighted if I am proved to be wrong.

In terms of a CLN, these are usually issued at a discount to the current share price (typically 80% but possibly lower due to the distressed state of TRX). The key thing for PIs will be the duration of the loan. If it's only a couple of years, then there will be the question of whether the company will generate sufficient cash to repay the loan (+ interest) in that time frame. It will also depend on the terms of the CLN... if the lender is obliged to accept repayment or whether they can simply say, I'll take the shares instead. In the latter scenario (assuming a discount on current share price), the fact the market cap of the company is only circa £5M i.e. same as the loan, this would give the lender a controlling interest in the company and probably more than 1/2 whatever the share price is at that time.

Better than administration in the short term but as others have observed the devil will be in the detail...

IMO JVs often go on too long without results. Much better to cut losses if you are not getting stellar growth... and it looks like that's what they done. We now need good strong leadership and much better communication. Probably time to change PR company as frankly all they seem to do is email out RNS and notices. Where's the buzz? The company has good solid value and that story needs shouting. That's what a good PR company would be doing...

True about the sector e.g. AZN was down by ⅓ at one point.

Superficially disappointing results. It would not surprise me to learn that a proportion of last year's sales growth was less about market sales and more about sales into new distributors as they build stock. It would also align with the strong push to make the company EBIT +ve. I've seen this many times as companies expand into new markets and as they approach profitability. I would expect to see a modest recovery in sales in H2 and then very healthy results in 2026. Fundamentals of the company remain very strong and they now need laser focus on market approvals and commercial strategy. This must be the new Chairs mantra. IMO in a year's time this SP will look ridiculously cheap.

I got an email from Wallbrook PR today to say that Annual report is going to be published today and also AGM will be on 27 July. This is in addition to CEO live stream: Investor Meet Company platform at 2pm (BST) on Tuesday 1 July 2025.

Results show steady progress. Recent approvals should lead to stronger growth which will be key to driving share price. As long as capacity is available, company should be showing +20% as a minimum. Communication is appalling and needs dramatic improvement- it's no good doing a good job if nobody knows about it! This has always been a long term investment for me and I will hold my position, expecting a sale at significant premium on current SP in the next 2 to 3 years.

True but SP only really fell off a cliff in Feb 25

Same applies to anyone with company knowledge which could include certain shareholders.

Directors will not be able to buy or sell as company will be in a closed period.