Member Info for Forcella

Even if that was the case GQ, they have more than enough from the placing and recent streaming deal to cover those costs, they're cash rich atm.

I think people see the wet season as an issue as KEFI and HAA in the past repeatedly used it as an excuse to extend the targeted timeline for finance to close, and production to commence. If you google 'Harry Adams KEFI wet season' you'll find numerous RNSs and interviews that mention it. Typically to kick the can until end of September, then you'd get another in September to kick it to the end of the year. They've made a rod for their own back in that regard.

I can't see it as an issue as the contractors will have factored it into their timelines. No doubt in my mind those timelines will be underpromised so they can over deliver - the opposite of HAAs MO over the years.

Onwards and upwards.

Most positive RNS for at least a couple of years imo. Too risky for me atm given the funding situation, but interested how this plays out now. May reenter once the dilution is done and the path forward clearer. GLA.

BP - agree to an extent. They did/still do need more board members.

However, an NED is supposed to be independent and impartial - the general manager of the mine is neither.

Given the previous governance issues and lack of oversight of the previous directors, this was the chance to bring in someone properly external.

Feels like no one wanted it and Jarvis has stepped in, it's not like he had much to do before.

'New man' has been general manager of the 'mine' for 3 years and owns 0 shares in the company. It seems he's happy with money for old rope.

No they didn’t they divested all but 2.8m shares (£28k worth). See below 23rd Jan RNS.

The Company has been informed that Indigo has entered into agreements to divest 24,181,814 of the New Ordinary Shares to various equity funds and family offices in Europe and elsewhere”

Only 700% to go til you breakeven 🥳🎉🚀🚀🚀

You genuinely don’t seem to understand how weak of a position they are in… You think it’s the same as when the LOI was announced when the SP was 4x higher, they’d done £800k worth of placings, before they’d breached the terms paying off 1 CLN with another, and before the Chairman and CFO had been suspended for allegations of corruption. You can lead a horse to water etc.

I’ll pop back in when the dilution has wiped you out and remind you 🚀

At least I can admit when I'm wrong not try to ramp with rockets to get 50% of my money back!

I lost 40% of one position and 85% of the other, split what I had left between KEFI, GGP & ALK, 177%, 166% and 101% up over the last 6 months those 3. PXC down 55% so I made the correct call.

As I said might dip back in once the dilution is done and a path forwards other profits ;)

Back above the price of the day before the unfavourable recommendation. Funny old game, good luck all!

Lol, not really. It might be worth investing in again IF (and BIG IF) they can sort this complex web of debt out and get a competent CFO and chairman in that have a executable plan going forwards.

It's simply not worth holding/buying in it's current state unless you want a very risky trade, as a reminder:

Indigo have $483k worth of shares to convert at a 20% discount to vwap (if they've not done so already! No notification yet but the last one took over 6 weeks)

- Pay $109k to Riverfort as a prepayment penalty

- Pay the NIU coupon

- Pay an interim CFO

- Fund investigation into the 2 suspended directors and any subsequent legal action

- Secure cash run away beyond early Q2 to be signed off as a going concern.

There is a huge dilution event incoming with the next 6-8 weeks (at a stretch) just to keep the lights on.

Posting "huge bounce incoming, 5p in sights 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀" (a 300%+ increase) is disingenuous ramping to get someone else to hold the bag, or incredibly deluded. Not worked out which category you fall into yet but i'm leaning towards the latter.

Imagine posting rockets for 5p when your average is 10p lol, got to laugh. Even if there is a white knight and they sort everything out it'll be £50mill market cap before it gets back to 5p.

How many shares are they gonna have to issue to survive as a going concern? Answers on a post card...

Indigo don't hold 10%, they flipped 24,181,814 of the 26,981,814 they converted so hold 2,800,000 or just under 1%. See 23rd Jan RNS. That's if they've not got rid of those as well.

At 10p you're at a 90% loss... bigger than me.

The situation wasn't great in June but 100x worse now.

Think - how many shares and at what price do you think they're going to have to be issued for Indigo's conversion, paying off Riverfort if they're in breach and getting some cash runaway?

Then - NIU got an arrangement fee in shares of around $5m - to pay the equivalent for the LOI guy would be 120% of the market cap in shares. That's assuming it doesn't go lower than it is now with the debt/cash flow problems I mentioned above...

Your 10p average is quickly gonna become 20, 30, 40, 50p through dilution...

The LOI guy can wait for it to go insolvent, buy it out from NIU and stick Ryan in charge of developing it, seems a better bet then supporting a distressed company with two of the top brass being investigated for corruption.

Yep, sometimes you've got to take the L, admit you were wrong on and learn your lessons.

Took a 40% loss in September on the ones I bought after the LOI was signed in June, after it turned out the "complete late this month early next" and signed subject to site visit was bs. Then took an 85% loss on my original investment from 2021 after that CLN was announced in December.

Thankfully already made my money back and more on the 40% and on the way to with the 85% with the places I invested it, glad I sold when I did considering this continues to go down and wouldn't have made my money back with what's to come here if I held.

Might dip back in if Ryan sorts it out and they have some cash flow but definitely not as it stands right now.

What's your loss and do you honestly think you'll get it back here with what we know? Or are you just hoping like PXC hope when in reality there's no chance?

Best of luck anyway.

MT I'm sorry mate, but your posts since since Monday show you're either desperate or deluded. What average are you in at?

We knew they were running on fumes, but the SP has halved which makes a placing harder to get away and will be at a lower level with monster dilution just to keep the lights on. Couple that with the all the issues that have come to light in the past moth and even the bucket shops won't want to take it on.

No chance Riverfort are handing back $1.5m .

"The terms of the CLN suggest PXC hope to have finance sorted by end of April 2026." - Hope being the important word - and who negotiated the CLN? Go figure. They've always said they hoped it'd be sorted soon as far back as 2021 and it never has. Their negotiating position gets weaker by the day.

"Hopefully PXC withheld some of the $5m NIU bond to pay the coupon " - To pay the coupon maybe, but they defo didn't hold anything back for a prepayment penalty.

" An LOI has some legal context to it " - It's a non-binding LOI, the legal context is it isn't worth the paper it's written on. Nothing is enforceable.

"if it is withdrawn PXC would have to RNS im sure" - see earlier post on governance. I don't think there's even any legal requirement to officially "withdraw" it as such, they could just walk away without withdrawing it in a formal sense.

"IMO PXC isn't going into administration any time soon. They have options. " - Flip a coin on the first part. They have options - none of which look good for anyone invested before Monday.

Wake up and smell the coffee.

Just like they said they'd RNS if they hadn't received the NIU drawdowns per communicated schedule...

Governance, and following through on what they've previously said they'd do has never been a strong point.

Need some funding might be the understatement of the century.

Hope no one is falling for these trader’s pumps. Fingers crossed they take their 20% and stop misrepresenting this company’s situation. Enough good people have lost money here already.

If you’re considering it, don’t do it now, wait til the dilution is sorted and they have some cash run away and reassess if there’s a viable way of financing this mine.

Bless you mag, had to get AI to write a response lol.

Still doesn’t answer the question though, 1p £2.7m market cap. How does it move forward without diluting you into oblivion?

You asked AI and didn’t like the answer didn’t you?

Just showing your lack of research and reading comprehension, it’s the Chairman and CFO not the CEO.

I’ve been calling for the CFO to go for a long time - probably around September 2024 when he hid NIU hadn’t allowed them to draw down the bonds as per the schedule they’d communicated halfway down the interims. Then did an interview post market saying there was no problem with bond investor and that he saw this as a billion pound company.

Likewise the Chairman should’ve fallen on his sword long ago, it’s been clear he’s not had the contacts/competence to sell these bonds to anyone other than NIU who mugged him here and at his other gig at CRTM.

This was on the telegram group which i’m no longer a member of but i’m sure someone can vouch.

So no i’d have got rid ages ago, and it’s not come as a surprise they’re alleged of being bent however it’s too little too late at 1p and £2.7m market cap.

To answer your question what’s changed in the last month:

- It became clear that it took them 6 weeks to notify Indigo had converted at 1.48p.

- That the board potentially bought shares so Indigo had volume to convert and sell into. The SP then pumped to 3p on the back of director buys.

- It became apparent that the clowns in charge paid off Riverfort with the Indigo CLN without checking the terms of it and now may have a prepayment penalty liability of $109k (which they don’t have)

- The two in charge of finance are being investigated for being corrupt.

- Gold up 10%

- Copper price flat

- PXC down 65%

That’s what’s changed. I’ve answered your question so perhaps you can answer all the ones in my previous post? Cheers.