Member Info for HarChris

For a bit of fun whilst waiting for next week's PFS here's a recent one from Australia that gives us a bit of a look at what's to come. Company called Meeka Metals.

Average of 54k ounces per year for 10 years

Average gold price $2540/oz

AISC average $1250/oz

$621m pre tax cash flow giving $390m NPV

I think THX will be looking at double the ounces over a similar initial mine life, similar (if slightly higher) AISC, so perhaps something like $1.1B pre tax cash flow and around $650m NPV. Not bad for a company producing so much cash that they could cover the capex cost entirely internally by mid 2026 if they so desired.

Ps Meeka Metals has the same mcap as THX despite being an explorer and developing a mine half the size of Douta. THX has Douta and $300m+ of free cash flow still to come from Segilola alongside all before they extend mine life in Nigeria.

*Only caveat is Douta is only 70% owned by THX, for now.

'Very presumptuous of you to state this is all the Chairman’s doing.'

Presumptuous of you to claim the 'requisitioners ignored the result and worked their way in' rather than John's more balanced take on matters.

All we know is that despite all the promises even after Shishir won he's managed to reach 2025 without any funding secured and perilously close to the abyss. Remember when you kept refusing to accept that they were going backwards in terms of production and how every year was an improvement? Do you now accept that the growth is finally over in a big way? 7100T produced in 2024, perhaps 3500T at a push? That was always one of your arguments for supporting Shishir.

I'm just amazed that you could watch the company going absolutely nowhere under Shishir and yet always come to the same conclusion that it was in fact everyone else's fault, because outside forces are all undermining him behind the scenes.

I've got no stake currently in this, I sold out because it was too risky to hold with Shishir and two inexperienced subordinates doing his bidding but now there's a real chance of a turnaround and I'm happy for those that stuck with this investment.

I'd hazard a guess that you'll see a return in the future by luck rather than by backing the right horse.

That’s an hilarious comment, actually thinking you are directly connected to Shishir now!

The requisitioners made it damn clear from the start that there was a decent business here to be saved, otherwise why were they fighting so hard to gain control?! Nothing disingenuous there.

You’re talking such utter nonsense… it’s obvious that the new chairman came in and saw the only route to saving this company was bringing in those more credible directors and pushing Shishir out. These decisions are clearly Michael’s and even you were speaking highly of that appointment Saluc.

This company was going under with Shishir and his daughter at the helm, now it might just end up a success. Be thankful that your capital isn’t lost. Excellent news over these last few rns’ for long suffering holders.

The difference with Thor’s PFS is that financing will not be a problem, that is not the case for virtually every other small cap out there.

And with likely only $75m-$100m debt to bring Douta online THX will be back debt free again in no time with their long term future secured.

Let's be honest EXR is trading like it's a highly risky debt-ridden small cap that's running out of time but the reality isn't anything like that. It's a debt-free developing business that's establishing itself as a leading player in a subsection of what is likely to be the biggest growth sector (AI) out there globally.

Considering it's also cashed up until at least late 2025 (and aiming to be cash flow positive by then) it's utterly ludicrous that it has seen a fall of 97% since 2021.

It is not FUD, it is factual. With no rns we can say for certain that as of today, five days after the hosting agreement with Galaxy ended, that no alternative arrangement has been found/no buyer found for these aging machines.

Could there still be something sorted in the coming weeks? Well, sure, but until that's announced there's no way this is going to rocket whatever bitcoin does next. There is simply no business here if no solution is found re 80% of Argo's machines.

Hmm I'd hold the same opinion if it wasn't for the glaring omission of Shishir in these rns' - until now he's all over every update yet in these, nothing at all?

It reeks of Shishir having no choice in the matter rather than a genuine armistice - wouldn't be surprised if behind the scenes there's a plan to oust him from within.

Board is certainly looking very strong though and is highly suggestive that TGR will, at least in some form, come out of this suspension with a new lease of life.

Yeah, it’s just a shame that they’ve wasted 9 months, at worst standing still, and putting themselves under real financial stress.

Those of us who argued that there really wasn’t any choice but to vote for the requisition team, even if through gritted teeth, have been vindicated.

I expect accounts released next, followed by lifting of suspension and then a placing or a new CLN to meet the £1m cln repayment. After that it could well be game on.

Https://www.linkedin.com/posts/davidwhelan1980_education-school-ai-activity-7280574411907207168-lO-G?utm_source=share&utm_medium=member_ios

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It’s ridiculous that EXR can be partnered so closely with Meta in regards to the Meta Quest and have a valuation of just £3m vs Meta’s $1.5T

This bb would be a lot worse if it was just an echo chamber for those that hold and need to tell themselves all will be okay.

Anyway it remains on my watchlist, especially now there's actually a reputable board in place that will be able to rein Shishir in. Things don't look good but all is not yet lost, despite the ridiculously long suspension.

I'm fairly certain the PFS will be with us by this time next week and I expect after the Q4 operational update we'll see an upgrade from the brokers - we aren't going to sit here seeing Thor bank $35m net profit quarters and remain with a 30P share price target, that will get upgraded to ~45p imo, possibly higher depending on the economics seen in the Douta PFS.

I don't like doing the work for you when it's a simple check of the rns but I will on this occasion - £213,627 as of 30th August.

Although costs have been reduced significantly Cel Ai will be close to zero in terms of cash (short term trade payables makes up a lot of that) but they have £600k+ in Solana to sell to keep afloat and going forward cash burn will reduce further.

For now it's a alt coin shell company unless they can convince investors to fund their move into AI.

I spent all of 2023 saying the same thing only to find Shishir holds back bad news way, way longer than should be allowed.

Here’s a classic example. Q1 FY 24 TGR had forecasted 6100-6500T for the quarter, leading the likes of me and others to remain defiantly positive in July and into August when the update still hadn’t landed (period ended June 30th). Surely we hypothesised that they must have at least come close to forecast because there was no rns to say otherwise. Mid August the update lands - 2300T produced.

They’ll have known one month into that quarter, end of April, that there was no way they were achieving their target yet they updated the market in August.

Historically at least no news has always meant bad news with TGR

It’s all about reaching profitability in this climate and being able to grow organically without the need of the AIM market. Just look at EKF, a good comparator for ABDX. Yes they’re much bigger in terms of revenue generation but they’ve only just recently returned to a small profit of a couple of £m and are valued at £125m.

ABDX could reach that level in the coming years.

CFO and Dx disposal imminent so that’s two significant events back-to-back. Should give us some early new year momentum.

I predict, as happens every time with Argo, that the share price will hold up until the bad news drops and it tanks to 2p.

Happens every time even when the news is clearly signposted.

Yeah six months takes them to 1st Feb.

And yes interim results due today. Unaudited so failing to release them is a choice (I guess because it’s highly unusual to release them before the previous year’s full year results).

Yeah that's a good point, with no update it means the hosting agreement has ended on the 28th December (as was previously announced) and no solutions have been found as of today. If the market understood this SP would have crashed 50% this week but as is always the case with Argo the big drops only happen when the bad news is revealed in black and white via RNS.

Tbh I followed CBX and their empty shell of a business before Edwards' takeover, it's a different proposition now no doubt about it (whether or not it works out). Thanks for helping me make sense of it, will keep an eye on things going forward.