Member Info for HarChris

I guess we’ll get the details of any new hedge they’ve entered into in the next operational update.

Consistent means different things depending on the decision. The one single time cash was paid they announced it early on the 18th, so if they are going the cash route and are indeed aiming for consistency we'd receive that news earlier than Monday 21st.

There is of course a third possibility, shares being issued to a third party with Heights receiving £3m in cash.

$3100/oz gold vs ~$900/oz AISC is just insane margins.

Well Miton were convinced enough to buy over 8% of the company, that’s enough of an endorsement for me.

There’s been a shift in sentiment since the new NED appointments no doubt with a sense that the tide has turned with a number of factors that feel like the early stages of a momentous period… and seeing as we’re a week away from a Heights payment the fact the share price looks more like breaking to the upside than the downside is telling.

Too soon to call it momentum, sure, but it does feel like we might look back and pinpoint here as the start of a significant shift in fortunes.

I do get the negativity, personally. I mean, it's a fact that GRL would have been in a world of trouble this year if the gold price hadn't performed so well, possibly even failing to remain solvent whenever cash had run out in early 2025 as I can't imagine there would be many lenders rushing to support further... so management don't deserve praise heaped on them.

But the reality is that the gold price environment has prevented that happening, alongside modest operational improvement. And it's a very unique situation where the difference between success and failure is enormous. Yes the next handful of months might not go our way and holders inevitably lose their entire investment but get it right with the current tailwinds persisting and the turnaround will be dramatic... and sat on a 600k - 1m ounce resource worth billions.

I will continue to be positive and supportive of my investment whilst keeping my feet firmly on the ground and acknowledging the negatives.

I see people worry about this is all the time. It is not a requirement on AIM like it is for main market shares. The only legal and auditory requirement is to release financial accounts six months after year end.

I literally just showed you that GRL hold their AGM almost every year in August and it's never an issue.

That's wrong. The full year results had to be released by June 30th to avoid suspension but on AIM there aren't any hard and fast rules when it comes to when the AGM follows. For example in 2021 after releasing results on 28th June the AGM was 26th August. In 2022 after releasing results on 30th June the AGM was 24th August. In 2023 GRL missed the reporting deadline for full year results so shares were supended... they eventually released results in April the following year (2024) and then the AGM followed that.

I would expect a Notice of AGM rns in the next couple of weeks with the AGM date set for August.

The self-appointed resident technical analyst has told us all to watch 32p, if that breaks we see a sharp move north. It's right on the cusp.

Pretty good to see Avacta at the top of the trading range when we're all meant to be scared of the next Heights payment in ten days time.

The annual report was very positive when it came to future funding.

All it will take is one slightly higher gold pour, say 550+ troy ounces, with positive commentary around reaching group profitability and self funding the last few months through cash generation and the share price recovers to over a penny. This would allow for the gold loan to be paid down and if they then went ahead and raised a small amount to pay off the gold loan in its entirety then i'd be fine with that - if would mean being virtually debt-free for the first time.

For all the negatives the fact remains that gold at $3360/oz offers up such an opportunity here if production can rise even slightly.

Since the share price has settled and AIMSL added (who likely have more information than us) it at least increases the chances that the seller, whether Paracale or Nguvu, is not selling because they are aware of news that'll lead to impending failure.

None of this is ideal but that's why the share price is 0.6p - it's for us to decide if it's an opportunity (like me) or still not worth the risk (you).

Tbh it's tempting to say something when the irony is so large.

Thorn spent so long over the past six months (before recently buying in) fear mongering about a discounted placing here and then his one beloved share ends up being the one to badly sting him instead.

And again ironically it may well be Avacta that helps him claw his losses back now.

No that’s wrong Jack, every 1% year needs to be released to market over threshold although generally when an entity is buying big they just file the tr1 when they’ve finished accumulating.

AIMSL followed the rules here.

The end of Phase 1 is when the large payment is made which is on or before May 2027. Realistically all drilling will have had to be completed by the end of the 2026 dry season so unless Anglo hold back payment to the very last minute there's every reason to expect it follows the end of drilling in December/January 2027.

Diamond, it was your well written and argued post a few weeks ago that really got me taking the cash concerns seriously and I had come to accept that besides left field news such as a sale in the neighbouring Botswana tenement to MMG then a small placing later this year was inevitable. Today we got that left field news and were, thankfully, made aware that the board are taking cash control seriously now. I’ve done the calcs again and as long as ARCM get the Ashanti payment and the board reduced key management remuneration by around 30% then cash easily goes into h2 2026 and at worst the management can simply defer certain payments til November payment and then larger payment to get right through without any raise. So this is really good news.

Obviously I agree re drilling in Zambia, it’s mightily frustrating and we can only hope that we receive the drill plans soon and they go ahead and drill hard for a good five or six months this season.

Still, one step at a time, today’s news hugely derisks this on the financial front and makes 1p look an amazing entry once again.

Because any good news in the future was going to be shouted down by the likes of you Peggy screaming ‘placing incoming!!!’’ in an attempt to quell any rise.

News like this vastly decreases the chance of a placing being necessary at any point (as we just need to get to that large payment at the end of phase 1) and hence clears the runway for a genuine rerate on the news we’re hoping for.

So in a minor sense you’re right? This isn’t game changing news in and of itself but it is a crucial cash injection to boost the short-medium term outlook. Especially with the commentary on reducing costs alongside as it shows the intention of management to avoid any cash raise.

Let’s see if those goes well below 1p as you kept predicting or whether 1p will be the floor I predicted…

It’s the only person to push back and actually challenge AV.

This is also not unique to ATM, it’s the same for all these small cap companies.

It's very dynamic and pragmatic.

The options are take it all in shares that you'll likely never be able to crystallise into cash, wait for full payment but run the risk of never receiving anything or compromise and take a very useful near term cash injection

It shows the management are now serious about avoiding a placing which was the biggest near term risk, according to many on here.

Let's spin this broker downgrade as a 20% upside for now... and once rising to 35p the good brokers will do what they always do and change their opinion again and upgrade.

No I believe not. It refers to salaries.

It's only 'up to' 50% so that could technically mean anything but as a reference and an intent to significantly cut the overall remunerational package it's good news for us shareholders.