Member Info for HarChris

Isn’t it obvious? It’s a last resort option for Shishir - cover the funding shortfall or enter administration. It wasn’t announced til now because it won’t have happened til now, when other options failed to materialise.

I don’t agree with your earlier assessment that it suggests funding is around the corner, I’d say it’s more of a necessary gamble for Shishir. It’s put up some money to keep TGR going or accept defeat.

CLN coupon being met but it was a small payment as discussed on here and appears they needed the £230k loan from the directors to meet it. Directors continue to plough on without a paid salary with cash overdue growing, I'm sure soon it will be equivalent to the amount they are expecting in VAT from Mad government.

Sahamamy essentially mothballed, Vatomina targeting 8000T this year so most holders will think that's more likely 4000T going by past history.

No mention of interims? Either they are released later today or shares are suspended.

Tough times for TGR - I was ready to buy back in on the right news but will remain on the sidelines.

In the meantime global hash rate has just hit a new all time high:

https://www.coinwarz.com/mining/bitcoin/difficulty-chart

Largo fold? They were still sitting on $45m cash end of Q1 and have diversified by builing a second revenue stream in ilmenite over the past twelve months which will be able to absorb some of the vanadium losses.

They still have more cash than BMN, less debt and have a $130m valuation to raise against if needs be even after BMNs placing and sale of Vanchem - Largo outlasts BMN under any scenario.

Why didn’t they buy Genedrive? Well I’m sure they looked at it but it would have probably cost £15m to definitely secure the acquisition and then they needed another £6m near term funding - so that’s a £21m outlay for a pre revenue company…

And I’m unconvinced this hype would have caught on as a constituent part of the Novato group.

Excellent posts. Cash is king and until very recently most of it was spoken for paying down the debt with only a modest amount freed up to go at the drilling targets on multiple fronts.

That all changes now. You wait ages for a bus and then…

As many posts on the GDR bb this morning as there has been for Novacyt throughout the whole of July!

Oh I agree that a P/E valuation isn't the most useful metric but it sure does highlight how impressive the cash generation is.

And seeing as Thor aren't up to their eyeballs in debt soon it's going to be straight forward cash accumulation. Fast forward 9-12 months and the net cash position will be giving the current mcap a run for its money.

We're at peak doubt now but i'm confident that will all be put to bed soon.

It would obviously be preferable if he just stuck to his own deadline of 'late July' for an update.

The market doesn't care for July figures, investors just want to see genuine progress towards commercial production at Kou as of the timeline set.

Of course you could always say that, results are never known til they are known but it’s reasonable to make forecasts based on guidance.

Of course we didn’t see $2m FCF per week in Q1, gold only averaged something like $2050/oz. It then went on to average $2340/oz in Q2 (financial results August) and we are seeing the same again so far through Q3.

No point looking backwards to q1 when the big gold move happened in April.

Only one poster has been attempting to sow fear around this deadline… the rest of us wait quietly/eagerly/interestedly.

Certainly should be plenty to discuss on here the rest of the week however events unfold!

Sorry did I say per month? It’s $2m-$2.5m cash generation per WEEK.

With the forward p/e potentially sub 1 now at current gold price vs production to end of mine life I couldn’t help but add one final time.

$115m mcap against $2m-$2.5m cash generation per month!

‘ Nothing posted here will make any difference so why don't we ALL stop posting?’

_____

If that’s how you feel then all you can do is control the controllables Wyn, so in this case that’s you stopping posting and leading by example.

The warrants certainly add to the appeal for the investor... if Argo were to get swept up in a rally now it's funded to the end of the year the investor has a risk free opportunity of doubling their profits.

Still, brave and bold all the same as Chaebol points out.

If mgmt are able to renegotiate the hosting agreement with Galaxy alongside these funds at this price then maybe there is a viable trade to be had.

There, I’ve said it (through gritted teeth!)

£6.5m to an institutional investor at 11.25p with an equal amount in warrants.

Is an II simply gambling on these funds alongside a move in bitcoin in the coming months pumping the Argo share price so they can bank a profitable trade? There’s no logic to it other than a trade, it’s just for working capital and general corporate purposes.

Hands up, I didn’t expect they would achieve a raise at such a minimal discount but I’m puzzled by the amount which does nothing but keep them alive to the end of the year. It’s the very definition of a lifestyle company.

Right now the pre open is equivalent to 13p.

Hopefully there's plenty on here following and decent robust debate happens when all the news items we're expecting this quarter and half year start landing.

Heck of a lot of news due - fingers crossed POG remains above $2350/oz alongside.

Major Tom I'm just trying to get answers more than anything so will happily defer to you if you're more knowledgeable on the subject.

To me it looks like neodymium is back (and a tad above) it's long term average prior to taking off in price in 2021 although the price was certainly far higher around the time of the DFS completion so would surprise me if current prices aren't below that base case?

Smartpunter - actual production is still a while off and the long term outlook for Nd prices is favourable so I think it gets funded... or sold to an entity that can afford to build it and can absorb the costs until prices increase. It's a long mine life after all.