Member Info for HarChris

Anyone contacted the company? We should clarity on this, if the royalties now go to Octo it starts making this deal look pretty weak and too far weighted to Octo’s benefit.

Meanwhile it won’t hurt sentiment this week seeing price of gold about to break its all time high…

How about sharing the whole picture?

In the first fundraising RNS we got this: 'The majority of the net proceeds raised through the Firm Placing, the Direct Subscription and the Conditional Placing alongside the Company's existing cash resources will be used to initiate and progress the dose expansion and Phase 2 efficacy studies for its lead pre|CISIONTM clinical programme, AVA6000, a tumour targeted form of the chemotherapy drug doxorubicin, as well as for general working capital for the Group until the end of 2025'

And that was whilst aiming to raise £26.8m... they actually went on to raise £31.1m.

When 2Q25 was mentioned it was in the context of being funded until at least June 30th, so not two months time. Obviously can't say with certainty but reasonable to assume there's cash available to Q3/Q4 2025 before we add the diagnostics proceeds. So no immediate rush for Dx to be sold.

January will show a fall of about 80% in hash rate then from February onwards perhaps 60%.

Well they have managed to find a host for nearly a quarter of the machines so fair play to that.

A few thousand more at their Canadian centre is perhaps a sign that the HPC plan isn’t happening in the near future.

This news though to give the sp a little pump? Not sure but you never know.

It’s very much not debt free, the past year has been largely financed via debt rather than equity.

What are you talking about?

The lithium is a very possible left field catalyst. Until recently I think very little budget was allocated to the lithium exploration but I would expect significant more now that the finances are in such good order.

Often the catalyst for stocks like this are the ones that aren’t well signposted.

Nice, similar to me. I moved profits from Shanta into SRB but then into THX way too early. Well with hindsight… srb had its risks too and impossible to know how these things will play out but sounds like you’ve timed it pretty well, better than me!

Highveld, nice choice with Thor. I think we’re very close to news that sees a big break out there and I have a 50p target.

Toronto closed at 0.36Cad ie 20.1p midprice, highest in one year and 10% off all time high.

Feels like we’re close to a breakout now and clear skies above - have a good weekend all.

Palatine, you seem genuine so deserve a balanced and genuine response.

I can come to no other conclusion than to say Chippas tried all of the things listed and failed. Management knew that the window was closing in on them and will have been working flat out for a year to raise more funds, to diversify operations etc etc but in the end of the day there simply isn’t a compelling enough reason to invest in Argo so it comes as no surprise that we are where we are (I’ve been highlighting it since 2023).

What your chat gpt answer is missing is the relevance of the debt. Argo is now a tiny bitcoin mining company with inefficient machines and with $40m debt. How do you go to investors and ask for funding at a valuation of £40m, £30m or even £15m? And how do you go about raising debt finance when you already have no route to repay the loans you have maturing in 2026?

I agree that it’s ignorant to use terms like ‘no chance’ or ‘no hope’ but the chance of a turnaround is extremely slim and the odds aren’t with those holding now sadly.

My guess, and it’s just that, is that some sort of raise happens in the coming months but at a very painful price, perhaps even a penny, with hundreds of millions of shares added to the register. From there there might be some sort of recovery to be had but the idea of ever being much higher than the price we’re at now, to me at least, seems unlikely.

You are quite ignorantly assuming that the deal needs days of in-person negotiations... it doesn't. They put MGA up for sale, found four interested parties, signed an exclusivity agreement with one of those parties and went on to sort a Heads of Terms agreement. Nick has had this trip planned since November so it was always intended to finalise the sale and then to move on to Blue Mountain and its next steps towards production in the months ahead.

I feel the opposite today, more buoyed than ever that the deal will close next week.

You visited the pool in Dickens County? Really?

2024 was a pivotal year but cleaning up the balance sheet isn't as eye catching, isn't as headline grabbing.

The ~$90m profit wiped out the ~$30m of debt and interest, it reduced the accounts payable by ~$20m to move to a working capital surplus, it reduced considerably (perhaps half) the gold stream liability, it funded the expanded 'high level' PFS, it funded extensive exploration at Segilola & it built up the cash position modestly.

What catches attention most is headline figures such as cash position growth and now the path is clear for that figure to rocket - from ~$20m at start of this year to well over $100m by the end of the year.

The end of the interview sums it up perfectly:

'there's always the temptation to say if there's not an (RNS) announcement every three days what are the guys doing? Well we've had our heads down and it's been an incredibly busy start to the year... for me next week is the culmination of what we've been putting together during the course of January'

Just a mindless deramp with no substance to that post at all.

Nick makes it clear in today's interview that job number 1 in Australia is to finalise tax loss sale before the end of Jan. With gold and antimony in such demand that makes it even more likely that Octo will be eager to see this over the line.

There are obviously a number of factors at play but the reason the share price is 20p and not 50p can be neatly summarised as due to being a low liquidity stock on AIM right now.

What we are seeing, time and time again, is valuations remaining unfathomably depressed until news that finally breaks through, leading to a snap back of 200%+ in the blink of an eye. That keeps happening, dozens of stocks over the past month have played out in exactly this way.

It is not due to rational risk. There is simply no rational argument to say that THX is riskier today than at lse IPO, before they had poured a single ounce of gold in Nigeria and with tons of debt against a very poor gold backdrop. There can be no case made for that, it's simply that sentiment took a knock in late September with state allegations and are remaining well below fair market value because we haven't had a single news item to see it go 'pop'.

For THX that could be the imminent update relating to the Osun State dispute, it could be the initiation of a dividend, it could be the Douta PFS. Or THX might break the mold and just keep seeing a steady rise north off the back of all those events in addition to the rapidly improving balance sheet and financials being seen in black and white.

The odds are well in our favour at 20p with a disproportionate amount of risk baked in.

The sentiment around gold and antimony has me confident that the MGA tax loss deal will go through, with possibly improved terms for ECR (royalties on any future revenue from Baileston?

Placing shares being flipped most likely - is what it is.

Switch off for a month then the fun should start.

Just to be truly transparent it does appear forecasters / gold traders expect a pullback next, mainly due to history and how it tends to trade going into the Chinese New Year (net bank shorts) - but after that they’re predicting $3000/oz around the middle of 2025.

Give or take a few hundred dollars is neither here or there for THX right now, they’d be a cash cow even at $2000/oz.