Member Info for HarChris

Couldn’t quite understand why there were so many negative comments on here this week… it’s still July, this is a big deal to get over the line, it’s not going to be rushed.

PXC’s project looks more attractive by the day, I think they secure the funding over the next few weeks.

I never particularly praise the board of directors, I continually state that they’ve failed to deliver time and time again but are surviving thanks to the incredible gold backdrop and I never promote the company without highlighting the risks… if production doesn’t at least rise another 20% from Jan - May levels or the gold price falls right back there is further downside from here and even possibly wipeout for shareholders. But any modest production improvement and this multibags from such a lowly market cap.

I think that’s a balanced and sensible viewpoint.

As for where the gold is it’s still there, much of it is still in the ground. Operational problems include the processing plant issues in 2023, agglomeration issues, heap leaching, low grades etc.

Why right now are they still short of the 1000 dore target? I don’t know, they aren’t being upfront with us and that’s frustrating. But I don’t see it as admirable to throw around such serious corruption allegations as you have been recently based on stupid logic from some advfn poster.

The half year report will be released in September with all that detail.

Hopefully an operational update before the AGM.

At the back end of 2024 I went through all this with my biggest holding, Thor Explorations, THX. In that instance a couple of loud mouthed State employees (Osun State, Nigeria) started throwing their weight around and making wildly exaggerated claims such as that they had closed the Segilola mine and that they were pursing $$$ billions for a whole host of fabricated claims. Tinpot local papers and journalists in Nigeria picked up the story from twitter accounts and other dodgy characters and ran with it. The reality? They'd stuck an A4 sized 'Mine Closure' sign on a tiny office near the mine that had a few employees and there was absolutely no disruption to operations... and in the end THX 'caved' in terms of paying a supposed outstanding tax of $62k. This against quarterly profits in the tens of millions.

Still, shareholders like me had to stomach a big sell off, with it going from something like 23.5p to 14p. Today, 9 months on, THX is trading at 42.5p and has also paid out dividends worth a good few pence more.

Moral of the story, don't give your shares away at these lows, don't be spooked by poorly written articles circulated by reputationally low local news sources. This is the last ditch attempts by an increasing desperate cabal and now Anglo are on the case they are going to end up with egg on their face without a shadow of a doubt.

I've simply shared facts such as this is the longest the company has ever operated without raising funds, that they started the year with barely $50k in the bank and here they are still operating in August, that they should be able to break even at just 250 troy ounces per month etc and hence still one improved gold pour away form a turnaround.

You're here claiming to be some innocent messenger sharing crackpot claims from ADVFN that apparently can't be disputed (ha) about a company wide corruption scandal involving skimming tens of thousands of ounces of gold.

I don't sit here and pretend I'm on to a winner, it's still in the balance, but there is clearly value if they can see any uplift in production through H2, even if only to 500 ounces per month from the 375 monthly ounces seen from Jan through to May.

And if I believed the nonsense you believe then all I'd be hoping for is one month of reporting the actual gold being produced (LOL) and the share price would multibag.

What did I say the other day Thorn? I bet ironically Avacta comes to your rescue and overturns those hefty MATD losses! Good job on the top ups today, this has only just got started.

Let’s acknowledge that those of us going long against Citadel’s increasing short did the right thing ;)

All this totally fictitious conspiracyland scenarios you come up with does nothing but lower the quality and tone of this bb.

Personally no, or at least not at this stage, even if I was a heartless and corrupt executive. Instead of potentially facing a massive prison sentence I’d buy as many shares as I could and then start reporting properly, seeing those shares appreciate astronomically as well as collecting millions of £££s from the generous option package. And I’d then take even more shares as a bonus.

And Ghana is just about the best jurisdiction for gold mining in all of Africa.

The accusations aren't against Goldstone, they are against an individual who happens to be the Chair of the company.

It makes no sense to entangle themselves in Angela's issues so I wouldn't have expected the company to come out defending her. It's now a decision whether or not to distant themselves completely from such allegations.

It does appear they are currently profitable which on the surface is an absolutely tremendous turnaround but we all know they should be absolutely making hay now whilst the golden sun shines. With a sizeable debt maturing on Dec 31st they at least need to show operational progress and take a big bite out of the gold loan through H2 if they are to renegotiate the loan / bring new creditors on board.

In other words they likely have gone from heavily cash burning to cash generating and profitable at the group level which is great but as they are still so far off the long stated target they aren't shouting it from the rooftops... just yet.

Still many months to get the production figure higher towards the 810 troy/1000 dore target, all is still to play for.

I’m thinking to attend, is anyone else on here going?

I guess it’s less to do with denial and more to do with what the right course of action is - as I said last week, whilst being investigated for fraud imo she should be stepping down / at least temporarily removed as a director.

AGM to go ahead as expected, puts to bed some of the rubbish being said on here about it previously.

Martin from GIllingham sold some to cover an unexpected tax bill, Susan from Stroud needed a few £k for her conservatory, Raoul in Bournemouth was forced to sell some to cover alimony payments, unfortunately the Naylor estate sold as probate following the death of their father.

For me it's impossible not to see value here with the amount of money it's taken to get to this stage, post DFS, with a net asset value now of $41m and a current market cap of just $12m all the while the backdrop improves ever further both in terms of the copper price (& gold & silver) and the desperate need for US-based copper.

We have to remember that the current royalty to Orion is a sky high 9.63%. If the targets are achieved the royalty comes initially to as low as 3.61% so that’s a whole 6% extra saving on every tonne.

In other words AISC comes down $1800/t from the royalty just for starters before we even see economies of scale - sub $25k is inevitable if the second jig plant delivers as expected.

This year has been disappointing because they didn't end up having the cash to complete the current expansion and, at least IMO, AV slowed communication until funding was sorted rather than be transparent about it and potentially seeing the share price sink.

Securing that funding at a premium however is an impressive move, at a price well above the average seen in 2025 to date.

Now focus can turn to cash generation at Uis as well as the SQM deal which again was a very impressive move, partnering with the second largest lithium producer on the planet.

This will be a slow grind because 'Brandenberg (sic) West' is 'at least two years away to be fully assessed'?

Copper and its potential has nothing to do with the current investment case, that all comes from the strong tin outlook, the fully funded expansion that's sizeable and ongoing, and the potential for lithium to take off and open the door to significantly greater revenues.

I’m not sure that’s true. If the new targets are achieved H2 production will rise dramatically (double) and ATM will show significant internal cash generation which puts them back on the path we were expecting previously.

If lithium carries on rising this is a different prospect altogether.

Could be more, I said ‘min’ 50% uplift on open, assuming the share price was about 4p at the time.

Anyone getting in after would have a fight on their hands too.