Member Info for HarChris

Coming up to twelve weeks since the AGM result that kept Shishir and his team in place - surely by now all those defending him are at least waivering slightly? The company has spent almost all of 2024 cash strapped merely scraping along thanks to director loans - shambles is putting it lightly.

I don't think it's possible to commit to no raise below a specific price long into the future so no, I don't think they mean nothing below 0.27p, just nothing below the price at the time of said placing.

I imagined it from one of the tweets it seems - no discount so either market price or premium.

The risk/reward is undeniably favourable at current price though.

I'll continue to hold as I think there's a lot that could happen here to create a rerate in the coming six months or so but simply stating that future raises will come at a premium to market price doesn't tell you a huge deal because... well... the share price could theoretically fall to 0.15p first and then a premium would still be far below today's price.

Raising non dilutive funds from the antimony or from the tax loss benefit would create the mother of all rerates here.

Most likely we’ll just see more dilution though for now and that’s clear in the price action.

Argo reminds me how irrational the markets are. If there was a lack of investor support a stock like this could genuinely be valued at something like £2m mcap right now, if that, given liabilities eclipsing assets which are depreciating to zero.

I'm invested in a gold stock that just announced $27.5m net profit for Q2 alone with expectations of $30m net profit for Q3 and Q4 and, price of gold being equal, the same again through 2025 and 2026. And it has far less debt on its balance sheet than Argo... yet it's only valued at £110m vs Argo's £65m.

I think a company generating that much profit vs one losing tens of millions per quarter should be multiples higher.

Just about the richest news period in THXs listed history at a time when they are generating record profits - think this is the time to sit and wait for the rerate over the coming months.

Only a little longer though... They had $4m and raised $8.3m gross so call it $8m net, then paid down $5.7m remaining Galaxy debt leaving them ~$6.3m. Now since June 30th they've had two more months of cash burn so call that $2.25m cash loss? So I'd estimate they are ending August with ~$4m giving them just over three months runway left BTC/difficulty being equal.

With assets dwindling to zero as machines likely being replaced in 2025, uncertainty over the hosting agreement at the same time as current cash runs out and $40m of debt eventually due in late Nov 2026 this is a totally uninvestable proposition... and yet Chippas found someone to cough up and keep them on life support for another three months or so, beggar's belief!

12pm - 5 mins time.

Where does it say they hedged 2000 oz per month til the end of 2024?

No problem. Busy elsewhere today so not been free to post but mightily delighted that we’re finally seeing traction here!

Lots more gains to be seen through 2025.

For those interested Largo put out a press release recently focused on the initiatives in place to continue to navigate this extended vanadium downturn:

https://www.businesswire.com/news/home/20240819418606/en/Largo-Highlights-Continued-Progress-in-Cost-Reduction-Initiatives-at-its-Vanadium-Operation-in-Brazil

Also the recent q2 financials showed they were still sitting on $36m cash and are ramping up their secondary revenue source (ilmenite) and alongside a $125m mcap I think at this stage we can confidently say that BMN aren’t at any point going to benefit from Largo downing tools before them.

I use tradingeconomics usually but find it a bit limited for Nd - that second link looks preferable to me, thanks Joe.

Amazing how long we waited for this sort of sentiment and momentum shift and yet some of us were never in doubt that it would eventually come.

Long term lots of work to be done but this sure feels good right now.

What site/sources are best to use to track daily REE prices, specifically Nd and Pr?

Genuinely interested every time to see if there’s a plan as to where the company can go in order to survive beyond just raising more and more to cover the losses and debt.

They are going to need tens of millions in the years ahead simply to stand still.

Still no volume but any change in that and this moves in the blink of an eye.

I think we’re close.

Yeah that’s right, the broker note stated additional 5-10p based on 1-2 years extension.

As long as there is still a realistic chance of meeting 95k ounces then guidance will be reiterated in the next update and the market will know that worst case will be a small miss come the end of the year.

If that’s the case the gold price more than makes up for any production shortfall with actual revenues far exceeding broker targets due to the h2 weighting and a necessary uplift in broker target from 30p.

Still, news on MLE is far more important than a few ounces here and there for 2024.