Member Info for HarChris

The Galazy loan being paid off was no surprise - there was $5.7m left to be repaid as of 30th June and they just raised $8.3m so loan paid off and a few more months cash runway.

The business is evidently worthless and the Armisitice cash is baffling as Hexam says, even with the warrants attached.

I'm sure there's some new companies having a shaky few days ripe for those individuals to do their bit to further unsettle.

They're nothing if not agile in their deramping.

March/April*

As for the update it is on the whole positive but it reads like something you'd have expected 18 months ago when they were just ramping up operations - the 8000t target is NOT for the full year, it's the 12 month run rate from some point in the future. I suspect we'll end up seeing something like 5000T this year which is a sizeable decline on the year prior.

The standout positive is Michael's contribution.

I laughed out loud and almost spat out my coffee this morning seeing that director loan from Alastair Beth - funds received in Feb/March?! Talk about buying yourself an executive role!

Of course there can always be curveballs but in the most recent interview, ~4 weeks ago, Segun stated that THX are producing 2000-2100 ounces per week. That means right now at the current gold price there is every reason to believe THX could be pulling in cash of over $2.5m per week.

Yes that's top end but you can see how much of a miss can be afforded and still make a mockery of the current $115m mcap.

Kaeren fully agree but the likelihood is that the timing just about works in Graham's favour.

There was a quite a short space of time between the awarding of the second contract in late September and the LTIP vesting date, merely a matter of weeks, which makes it much harder to imagine that major issues were flagged at that stage.

It *is* a stupid question.

Nobody thinks a small biotech like Avacta is guaranteed to get their novel treatment for cancer approved without the right team and people in place. We're all fully aware of where missteps could lead and they are now ensuring (your word) that the right team is in place to guarantee success from what is likely to be a revolutionary development in the treatment of cancer.

What a stupid question

I almost always expect a curveball in situations like this but it really does just seem that small cap gold miners continue to be unloved despite the ever improving gold picture - you only have to look at other small cap goldies like SRB (and many others) to see this.

Very confident results in the months ahead will prove cash cow status unequivocally.

There’s more than enough reserves announced already to expect a minimum of 100k extra ounces out of Segilola and most likely a fair bit more - I wouldn’t be too nervous at current gold price.

I agree it’s usually the case but with THX there’s no need to pump the stock, there’s no need to tap the market and hence there’s no hurry for these results or (to a degree) the Douta PFS either.

I think it can be explained as drilling slow to get going whilst debt repayment was the focus and now it’ll be gung ho.

There’s no doubt that THX is a cash cow right now and I’ll continue to hammer that point home but it is time we started to get the long awaited updates we’ve long been promised.

The least important, the lithium drill results, should have been with us by now - they’ll surely be released soon. But let’s make sure there’s no further delays on the drilling campaign update from Segilola or for the Douta PFS in q4.

And what with Dave and Sandra being so heavily invested i'm sure they'd consider the option to take shares in lieu of salary if it allowed EXR to announce a cash flow positive position priot to further funding - the optics would make it worthwhile to DW and SW in the medium term.

I’ve occasionally sold some when I’ve thought news is a long way off and bought them back when I think news is close or ‘time’s they are a changing’ but it’s only ever been with a small percentage of my overall holding so I can assure you my average is well above the current price and that I’m not making money currently.

I’d assume the same for you Larry?

I’ve bought more in anticipation of this news being released, it is so very much material! Add it to the VAT return and it’s more cash than most small caps see in years!

Updated broker notes tend to follow financial results - if by mid-late August the results reiterate 2024 guidance and POG is above $2400/oz then we're almost certainly going to see further broker coverage and an upgrade on the 30p target.

Remember that 30p target is based on a much lower gold price and just the original Segilola mine life - add in the increased margin on current ounces, any extension to the mine life at Segilola, Douta and then further projects like the lithium that will be viable following the cash accumulation and you can see that the sky is the limit.

The reason some like me are interested in this “piece of rubbish” is because it’s a genuinely interesting case study.

Argo should absolutely be dead and buried now from a fundamental perspective, in very tough markets it’s simply astonishing that funds and institutions are choosing to throw millions at keeping Argo afloat when there’s tons of small caps with minuscule valuations with projects capable of generating hundreds of millions, sometimes billions of dollars in profits based on dfs Net Present Value projections… yet can’t get funding over the line.

Essentially it’s worth discussing amongst the more credible NA miners.

I hope it works out for you! 🤞

Amers, do you now think the GDR share price got ahead of itself as the mcap caught up with NCYT despite being pre revenue and having a fraction of the cash?

I guess the disappointment in the revenue figure is purely due to the full year results 'post results' stating contracted revenue greater than €2m for Q1 so we might have expected closer to €3m revs for the half year.

(Net) Cash position is too healthy to be sat at a €6m valuation.

I may have spoken too soon… let’s hope it settles soon.