Member Info for HarChris

I know, rare to see the share price not revert to placing price, especially on a down day for the markets. It's 4p to buy right now.

I assume most are interpreting this to mean no more shares being issued for the foreseeable: ''The funding allows the Company to scale up operations and advance various growth initiatives, whilst deriving maximum benefit from the high commodity price environment. Importantly, this fundraise completes the current equity financial requirements for the Group.''

$1m a month for the last four months plus another few months doesn't come out at £8.5m / $11.5m. It wasn't covering it although I hoped ATM just raised nearer the time with a higher share price to cover the shortfall.

We do need to accept that margins will be being squeezed by soaring oil price.

It's not a dead cert, once bitten twice shy etc etc TLDR.

Now back to focusing on the ever growing positives rather than going back to the bloody covid LFT days.

My take is that they have chosen to state this as growth capex rather than debt repayment. The cash position will have been building and it will now give them flexibility as to how much is put aside that July deadline. Is it all £8.5m so that the maturity is covered? Is it a portion with the hope of generating enough cash over the next three months to cover the rest? I don't know and we should all be putting that question to AV at the IMC.

As for putting off IIs, the one's we have will have just increased their holdings even further. This is good for them and is also done at a price that isn't particularly painful, at i think the highest price raised at for a very long time.

I'm frustrated that this was needed but it was sadly clear after the last update that not enough cash will be being generated for now to fully fund the business and meet all looming debt repayments and at least it's come at a reasonable share price given recent trading.

Many will wait for that next equity injection then assess, certainly the safest option although obviously the potential is enormous from here.

The average share price over the past month is 3.4p and the SP is well above that right now so it's not the worst deal in the world. And now we have even more commitment from IIs.

I don't like it but my point was ATM were clearly not going to be in a position to cover £8.5m of debt maturity in July + any near term capex demands, so it would have been a case of having to find a deal with CLN holders (shares) later down the road. It's arguably prudent and beneficial to have it out the way and then push on with a clearer path forward.

Finally getting an IMC in the diary suggests that this a turning point.

'Lets not kid ourselves: All we discuss here is how much money we might make and how we can get more of it as quickly as possible.'

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Actually there are many long term holders here who don't have the inclination/desire to trade and instead are solely focused on having backed the right horse that will eventually be taken over by big pharma, whether that be many, many multiples or something more modest. For them it's not about obsessing over what number but just that that number is a fair bit higher than the number which they bought at, which should be the case here for everyone if Avacta is ultimately successful.

IF we get a positive operational update in the coming weeks (and I am hopeful for that) then we're off to the races here. But until then I'm sure I won't be alone in being a tad nervous that this is another 'oooh look over there' ECR moment instead of delivering on what's previously promised.

From what I understand cash generation at Uis is happening but there's also a looming CLN repayment deadline in July, ~£8.5m total. The cash generation isn't enough to cover growth plans and pay off the debt.

Short term pain but hopefully full steam ahead now with tin at $50k and lithium price rising ever higher.

Cure vs. remission: The evidence is nuanced

- In advanced/metastatic solid tumors (the setting where ADCs have generated the most excitement, e.g., HER2+ or HER2-low breast cancer, triple-negative breast, urothelial, ovarian): ADCs are not generally considered curative. They excel at inducing responses (often 30–60% ORR, with some durable ones lasting 12–24+ months), shrinking tumors, delaying progression, and extending life (e.g., Enhertu trials showed median PFS of 16–28 months and OS gains of 6–12+ months vs. comparators). But patients typically eventually progress due to resistance, heterogeneity, or payload limitations. Sources like Cleveland Clinic explicitly note ADCs “can’t cure cancer” but help people live longer. Their primary role remains disease control, symptom relief, and quality-of-life improvement.

Certainly a chunky buyer today - is it because they have sight of news or are they simply loading up off the back of this lithium and tin price move (tin just shy of $51k right now)? Could be either.

I know what you mean on the free postage, £50 is a bit steep to tempt the average browser to add more. If that threshold is dropped even to £40 I think it would be a lot more appealing.

I guess that’s a luxury ATM haven’t had of late, the balance sheet to command maximum value of assets. Take Brandberg West even, I’m sure the deal is worse for ATM than it would be if there was any alternative but there wasn’t at the time so it’s either the deal on the table or left to fester as tungsten and copper grab the headlines.

Hopefully developments go our way to enable ATM to hold on to their half of Lithium Ridge or command fair value, or at least see progress reflected in the share price so ATM can raise against a much higher valuation in the future.

Lithium is suddenly getting a lot of attention with it entering bull run territory - excellent timing considering the EIB partnership to accelerate the feasibility study for the lithium at Uis. Reminder with the rns below:

https://www.lse.co.uk/rns/ATM/eib-partnership-for-uis-mine-feasibility-study-f5c9ck73gkzitrl.html

That below trial is the one that set AVA6000 on a different path, pivoting from STS as the focus to SGC.

As good as the results look the fact it’s a Chinese company and Chinese study means a lot more hurdles for Affinity to overcome to be treating STS patients in the US and Europe.

They've just taken their second drug from idea to in-human trials at industry leading pace - you can't go any faster than that.

Worst case at Raglan means ECR tap into the £1.5m sat in the bank (as of February). Best case is covering BM development costs and keeping £1.5m in the bank for ramped up exploration elsewhere at a later date or even to actually enact a digital asset strategy timed with the next bitcoin bull run.

Ranges from fine to excellent here.

With the CLN cash i assume.

The £2.5m CLN brought in £2.35m cash, they spend some on bitcoin, on gold, admin, exploration and I suspect have enough over to cover a few months repayment. It's an awfully employed strategy though and they need something and soon to turn this around.

If that's the reason for the lack of operational update then that's good news for us (and bad news for Nick!).

Hopefully we're close to news after all.