Member Info for HarChris

No risk of any Heights selling til late October at the earliest, the broader markets set for a meaningful relief rally, the placing with 10 days distance to settle the dust... I think we should be in for a good few weeks of share price appreciation now as we near the BIO conference.

... tin at $55k - I think the fears some were sharing on here a few months ago about failing to generate cash are long gone now.

Well it's positive to see a business like this can be trading at £500m even without being profitable, eh?!

Analysts estimate the top 18–25 pharmaceutical companies collectively have ~$1.3 trillion in total stretch M&A capacity (what they could theoretically deploy while maintaining investment-grade ratings and operations).

~$600 billion+ in more comfortable / realistic firepower (without stretching balance sheets too far).

I’ll try stay on topic rather than ramble like you did in your reply… if pre|CISION enabled Exatecan to be targeted at the TME at higher doses with manageable side effects therefore widening the therapeutic index then Avacta becomes a multibillion dollar company, without question. They have survived the hairy period where the Heights loan could have buried them before they got a chance to outright prove the science, that was once real and isn’t anymore.

And that’s exactly what happened to DDDD. Took on a crazy loan with Oxford Finance that couldn’t be paid off with shares which bankrupted them before they could even ascertain whether their platform would be successful.

Honestly that comment from DG has to be a wind up, one of the most ridiculous statements we've had on here.

Most of the US listed largest pharma companies have enough of a war chest sitting in cash to buy Avacta for let's say $5B. If not a company such as Eli Lilly sitting at $1.07T valuation would need to issue 0.45% of its market cap or perhaps closer to 1% if Avacta fetched a larger amount.

If 6103 delivers like it has preclinical I don't think we'll be in the position where big pharma collectively say 'love what you have but there just isn't the cash!'

Let's not forget that the resource Shuka is targeting to increase by 50% is just the No2 Orebody, this is just one orebody from multiples at Kabwe. From the 2023 CPR, pre-tax cash flows estimated to be $1.84B and a NPV of $561m, based on lower historical grades and a sub $3k zinc price plus a 10% discounted rate. I wouldn't be surprised if that NPV is boosted to close to $1B with an increase in reserves and grade and higher expected long term zinc price now.

Friday's share price rise took the market cap here to still just $5.5m... and we're talking $1B NPV (maybe $2.5B pre-tax cash flow) from just one of Kabwe's multiple orebodies. Upside potential is off the chart.

We often talk of the potential upside but one of the biggest factors right now is the relatively low downside risk - with the other two main projects spoken for and a profitable mine at the one Andrada is funding itself there's nothing like the financing threats ATM has always contended with since its inception.

So as long as the tin price stays high it's a case of building up the cash pile whilst waiting for other catalysts to (hopefully) land in our favour.

Finally sold out after 5 excruciating years and then bought back the following week?!

https://www.youtube.com/watch?v=UPw-3e_pzqU

Well my last minute decision to place funds in here before close yesterday instead of Space X might turn out to be my worst in investing yet.

Oh well, it's only money!

Not sure why i'm bothering to respond to such a childish ignorant post but will anyway.

SQM, a company valued at $23B, started its drilling campaign at ATMs Lithium Ridge in Sept 2025 with spodumene price at around $750/t and they were still able to make money around that price. Nine months later it's $2511/t... it is anything but dead, it's alive and kicking.

Tin is a workhorse metal that is absolutely crucial to the modern world. There's a serious global undersupply that plays right into Andrada's hands.

What a great post Icecool and response!

Given the underwhelming auction I think this is as good a update as we could have hoped for: https://www.lse.co.uk/rns/BSFA/paris-auction-result-zyklhighgep2xb8.html

'Following immediate post-auction demand, the Company confirms that the handbag has now withdrawn from the public auction format and is being prepared for sale to a select group of high-net-worth collectors and institutions.'

The global media campaign and public exhibitions achieved over the last two months have fundamentally proven the market appeal of "Extinction is the new black" and supercharged active, high-level corporate pipeline discussions with multi-billion-dollar Tier-1 companies:

● Sportswear & Performance Footwear: LGL continues to advance its deep conceptual R&D discussions with a leading global sportswear giant exploring the future integration of bio-synthetic structural leather into elite, high-performance athletic footwear lines.

● Next-Generation Automotive Design: Technical engagements remain highly active with a world-renowned automotive brand exploring bespoke cabin materials.

Upon rereading I see they can issue conversion notices along the way. I missed that, apologies although no need to be an ar*ehole.

Pee off! I've encountered hundreds of CLNs in my time investing so understand how they work. They are not identical, there are numerous versions with all sorts of different terms. This particular one has some positives in that there's zero ongoing interest and there is the option for it to be bought out by the company at a 25% premium if they were somehow in that position over the next 12 months (unlikely) + the warrants aren't too egregious. But it's also a starting gun that means bsfa essentially have 12 months to see major progress/ a partnership or they will run into serious trouble by mid 2027.

I agree Wyn, it's a shame that you get under some people's skin here - you're just a big cuddly teddy bear really!

'That's all hunky dory if the share price is rising or steady. Now we have a catalyst event that has not gone to plan.'

______________

It's literally day one of 365 days of the CLN. The idea that the CLN has backfired already makes me laugh.

It’s okay to have a different opinion Jarv, it is just that.

It was the CLN that encouraged me in today, sure they backfire eventually if not enough progress is made by maturity but this alongside the £500k raise gives BSFA twelve months to make significant progress first.

Where does it say they can draw down whenever they want over the next 12 months? That's not typical for how CLNs function... It's a 12 month term ie a £1m loan that's repaid in 12 months time, at 85% of the 5 day vwap with a couple of extra terms such as BSFA being able to pay it off at 125% of the value ie £1.25m.

I took a risk buying today before the auction primarily because the company are now securely funded for the next 12 months.

Sure I expect it to open up lower but I think there's potential still for some sentiment changing news in the months ahead so I'll suck it up if i'm sat on a paper loss and hope for better times!