Member Info for HarChris

I agree that the results are a bit disappointing but it’s tedious to jump to the ‘lifestyle’ accusation for every company underperforming, it’s lazy and doesn’t take into account the fact that almost all competitors and peers are also struggling to show clear growth. This is not an easy sector to operate in.

The increase in loss is misleading as there are one off costs that very much explain this but growth is stalling in important parts of the business which is a worry, as Muck alludes to.

Not a dead duck, still positioned well with a healthy cash position but that 2026 target to reach cash flow positive is absolutely essential.

Looks promising https://x.com/goldstoneres/status/1904470672891396298?s=46

Added.

Good for you but my comment was directed at a specific poster for a specific poster who definitely isn’t making money elsewhere.

Ps you’ve always claimed you’re a disgruntled holder here right? Mask just slipped?

Well Thorn that only works if you’re utilising your capital in better ways, my guess is you’ve lost money on MATD in the meantime?

But at least that’s the first time I’ve seen you acknowledge that Avacta looks an eventual winner, looking forward to being strapped in for the rerate is quite some climb down! You think you’re going to make lots of money in the meantime to make buying in at 50-60p later more worthwhile than 37p today? History says otherwise with you.

Well you have to remember that it’s cash raised at 50p. Using some of that cash to prevent increased dilution at a lower price obviously makes logical sense in certain circumstances.

It’s possible that strategy changed after July and it was then that they chose to align any further funding with p1b data, it’s possible they understood how long Dx sale could take etc hence the need to preserve cash going forward, for the best 6 months or so. It’s not ideal but plans change at a small cap pharma like this.

It’s gold dore, not bullion.

It seems a low amount, you say? Don't forget Net Zero is almost always assumed to cost consumers money in political discussions, 'a big costly waste of time' etc but what the NESO report shows is a shift to a clean power supply would not only be environmentally friendly (obviously) but also save consumers money too.

In that context £10/MWh is significant.

Viking, I had a quick look at your posting history and I can't find a positive comment you've ever made about any share, ever. Are there no companies out there that you like, that you feel good about? Are you just a miserable pessimist? Or is this account solely used for posting negatively with other accounts for your long positions? Genuinely interested!

It's never a good feeling when you wait and wait for the big catalysts to kick in only to realise you're going to need to be even more patient, but at the end of the day the short term fundamentals are identical after this update and the medium term fundamentals will likely improve significantly... those initial drill results are highly positive.

The fact we're in a news rich period should make it that bit easier to suck it up with the share price getting going again soon.

Yes a steady increase in gold price and steady rise in ounces produced - let's have that comparison with H1 2024 again (the last set of results):

H1 2024 - 1133 ounces produced @ $2290/oz = $2.6m revenue

January 2025 gave 522 ounces. Let's assume gold averages $2900/oz in Q1. For Q1 to beat last year's entire half year we need to see 375 ounces across February and March. Realistically H1 2024s revenue will be beaten by end of February and then ramp up gets going after that. Revenue for the half year will be anywhere from a trebling to perhaps 700% higher.

The share price is up 3% over the 1 year timeline, I find that extraordinary given the above.

We're just coming from it at different angles. Your focus is on management and whether or not their forecasts will be met, mine is more from the perspective and context of the gold price giving management huge margin or error. Mine is more 'if management's forecasts and strategy is successfully this ends up 10X, but even coming somewhat close and this multibags'

Without the positive sentiment surrounding the last trading update in July they'd have had a hard time pulling off a placing/acquisition of CS at anything like the price they achieved, instead possibly ending up in the sort of position Genedrive shareholders found themselves in last year.

I suppose that's good management although it leaves me questioning if that update was 100% honest/

It feels to me like many are on the sidelines hoping for the negativity of the next update to initially outweigh any positives, giving an even lower entry below 1p - besides the very short term this has to be attractive at a $3k gold price.

It’s certainly disappointing when we were led to believe they were cash flow positive in Q4 2024… how do they go from that to not expecting to be cash flow positive in H1 2025?

Just a month ago OakBloke wrote his article positing the question - is IES a buy at a ~12.25p share price? and includes the broker targets, Longspur's 86p, VSA’s 110p and Cannacord's 40p target. Since I would argue the news has been more positive than negative (the 10.8 MWh battery to STS, the increase in Cap and Floor that benefits IES, slight negative being LODES) and yet the share price is now sub 9p.

No guarantee of success here, of course, but the risk/reward has never even been as good as this.

Haha well if you want my view it's that there's little that can be done at this stage, the management doesn't tend to be the issue when you have indebted companies with no business case in a tough market.

Agree with the other poster though, most likely they'll issue as many shares as they can to keep in business and cover a bit more of the debt and then tag the options to that new price - could be a trading opportunity if that happens.

'How's the sp today?'

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It's 3p higher than when you saw a 5p drop coming two weeks ago.

The recent steep sell off is therefore more likely driven by traders trying to get in ahead of Miton selling rather than actually because Miton is driving the share price down - good to see a buyer for these shares.

No it doesn’t, there’s legitimate reasons why February might be a bit lower.

It might well be with another week they can confirm a big jump for March coming.

I think BBNs post here sums the RNS up neatly: https://x.com/bigbitenow/status/1904076848918646885?s=46

I’m reminded that buybacks could be announced any day, so any retrace in share price would be short-lived.