Glengarth, thanks. I, too, am awaiting financial update from the company. Concur with much of what you say, and it is quite possible recent SP weakness is simply a market led pullback. But i am always nervous these cash -ve early stagers are going to spring a raise on me, perhaps verly so ; tho I suggest AIM engenders an abundance of caution!
Ithe co has issued no projections of when it will turn a profit, ther than vague assertions that the planned increase to 12ktpa would "go a long way to profitability at the corporate level. The commissioning of Vatomina expansion has slipped from Q2 to Q3. So having raised £6m in dec, £10m in April, all, as far as I can see, committed to the necessary capex, how will we get to possible cash generation in 2024/
The answer, of course, is most likely dilution, and the only question is when.
It's the mealy mouthrf rhetoric in the RNS that annoys almost as much as the placing.
So a placing with " existing and new strategic, institutional and sophisticated investors " is going to " facilitate additional liquidity to the ASX quotation". Yeah, right. Either these are LT holders, or they are flippers who add liquidity (read:selling pressure). They can't be both.
Extremely lucky I held off addnl buying, and that I am in the blue even at 20p. But it still stinks. i had intended to ne a LT holder here, but will eassess that timeframe. That doesn't mean selling at these prices, of course, but it means a more active approach to my holding.
Great job of collapsing the SP, letting instis in cheap, shagging existing holders. Oh, and a nice pre raise interview to pump the SP just b4 collapsing it. Some of the behaviour in these juniors beggars belief.
RE: Some of the Best copper grades in the world22 Jul 2021 10:40
Filtered who? Ozzy?
I thought that was a very sensible post. some here are getting a bit carried away and converting future revenue streams into todays Mcap. I am very bullish on MTR, but let's keep ur feet on the ground.
Lots of likely future positives here, from the resource size to the metal price and back again, ST's 35p "at least" target sounds fair to me, with a possible upside from there.
BUT.....ST of IC has a target of 35p "at least" from 2 months ago, and he is not paid by the company to say so. He has a reasonable record of hitting his targets, tho obvs not 100%. All smallcap non rev earners are being sold off atm, the good as much as the dross. MTR is not the latter, tho i expect every share bb is saying "this one is different".
FWIW I have today emailed my local MP, a Tory. If anyone would like to use my email as a template, please do. I suggest it is likely to have more impact if fired at Tory MPs, as worded ; and that it is only Tory MPS that might force Govt to come clean.
I know emails have been sent b4, but MPs and their secretaries DO read them, if sensibly worded, and the will, eventually, get a message thru, imho.
Dear Sir ..
I attach the BMJ's article on Innova tests. It is a brief one, which sums up well the bafflement of all as to why the govt is persisting with tests that have been declared useless by the US FDA. We are spending £Bs on useles tests, when there is a reliable alternative produced by UK companies, Avacta among them.
The obvious concern is that inaccurate tests are forming the basis on isolation decisions, but there is also the growing concern that contract awards look arbitrary and unfounded in either science or financial rigour, feeding the sleaze story.
I hope you share my concern that this is damaging to public health, to the public purse, to the reputation of the UK, and to the once good name of your party.
"Last month, the Medicines and Healthcare products Regulatory Agency (MHRA) announced that it had extended for just over two months its exceptional use authorisation for the NHS rebranded Innova lateral flow tests (LFTs). The authorisation for them to be used by asymptomatic people testing themselves will now run until 28 August. The original six month authorisation expired on 22 June, and so without an extension the government’s covid-19 mass testing programme, Operation Moonshot, could not have continued. The extension came, however, just one week after the US Food and Drug Administration (FDA) said the tests should be put “in the trash.” "