Member Info for HarChris

Exactly. And let’s say for example they opt for cash in two week’s time knowing that a private subscription is following down the line - even a small discount should mean a premium to today’s price.

A very interesting H2 ahead of us.

Small quarterly subscriptions at market price would (highly likely) be at an ever increasing share price and so essentially a premium to today’s price hence those waiting on the sidelines missing out on the low price they are hoping for.

Even if there is a small discount I don’t think the share price will retrace to that price, liquidity is returning and it will be the green light for many to buy in for 1b data and the deal alongside.

Bold claim with this at just 31p but I don’t think anyone gets a buy price on the open market below 30p from here on out.

Well the idea that all this volume is one seller is ludicrous but perhaps you aren’t suggesting such nonsense and I misunderstand.

Anyway we’ll find out for sure soon enough.

The share price closed at exactly the same price as it opened on June 11th... in that time ~230m shares have been traded, 25% of the company.

If there is a massive seller then without doubt there is a massive buyer or two, too.

TRUMP SAYS HE WILL IMPOSE 50% TARIFF ON COPPER - breaking news.

Empire open pit US copper about to be worth a whole lot more.

I can't for the life of me make sense of the lack of commentary around the cash they are generating. They have consistently burnt upwards of $300k a month for years on end and then they go and make it through a whole half year without any financing despite starting that year with almost nothing in the accounts. And they make no song and dance about it, no mention of being cash flow positive, barely any comms.

If a comprehensive operational update is currently being produced alongside the next gold pour they can just about be forgiven but I still find the lack of commentary on what is a major step change in revenue (exceeding 2024 by May this year) utterly bizarre.

As it stands they are committing up to $88.5m to explore the licences and do the major discovery work - currently arcm have a free ride and if Anglo find what they are looking it will put a massive price tag on the remaining 30% of the licences and hugely strengthen ARCM's hands when it comes to negotiation. Plus ARCM would be under no obligation to give up that 30% share.

If you look at the cost for example of going from phase 2 to phase 3 it's $30m of expenditure for 10% ie $300m. They locked that in because they know if they find what they are looking for that 10% will be worth considerably more than $30m.

Houston we have a buyer!

I assume a buyout would be of Unico, not ARCM. They could consider moving early saving the hassle of having to work with its partners but what price would it cost for 100% of Unico? Scrapping the current terms/exploration commitment/cash payments perhaps they'd chance their arm at $150m at this stage?

ARCM would then have a war chest to develop/partner its own copper assets.

There's been 200m shares traded since that rns last week, those trades you saw could easily be a few wealthy bottom feeders taking a punt.

Can anyone explain why it states they have acquired financial instruments rather than shares?

Are you guys sure that they are actually buying shares? As far as I can see they have gained voting rights through acquiring financial instruments rather than shares - I imagine there’s something else going on, perhaps involved in taking Argo private.

Even for traders there’s great risk/reward short term now.

Considerable share price appreciation if next payment in cash/ positive solution found and only a modest fall if paid in shares as everyone will fully expect Hughes to have sorted financing within the next three months alongside ever more 1b data in hand.

As thorn keeps saying it does feel like we’re close to an inflection point.

Or perhaps there wasn’t such urgency to receive the proceeds of the smaller of the two businesses once Launch was sold and so held out longer for the right price?

I believe £3m-£4m is the oft quoted expectation.

As for it being sold I think that’s what was implied at the AGM.

Well Avacta is a loss making company and worth at least £150m and realistically many times more.

What an ignorant thing to simply assume it must be worth sub £1m because it isn’t yet profitable… there are plenty of LSE AIM listed loss making diagnostic companies valued between £10m and £50m.

1.5p is 1.5p - it's 50% from here.

'Next couple of RNS will be private placing and coris sold'

_______

And confirmation of PFS having doubled? Further reduction beyond 50% of 1b patient?

There's lots of potential left field news here.

Richard stated in no uncertain terms at the AGM how undervalued he considered Avacta to be right now and how the amount going to Heights each quarter is peanuts - he has a reputation to uphold, that requires bringing in investors at a fair valuation, not a discount of what's already a deep discount.

We wait to find out but if Hughes is the real deal there should be no problem bringing in some of his HNW contacts at least at the market price.

I detest these 'would you accept X price?' debates - they almost never actually become a conundrum in reality.