Member Info for HarChris

The update doesn't signal that a deal is imminent which gives traders the confidence to dump with a view to re-enter a few weeks down the road, that never helps in regards to the sp reaction.

There's a proper company being built here for the future but Anthony is doing an awful job on certain fronts and if it wasn't for the high tin prices the share price would be closer to 3p than 4p - I agree with your sentiments, it's time to hear more from him now.

I'm very wary not to give LR the amount of time that I did for David Almond but the one thing we do know is that Lyn Rees knows the AIM game and I agree with neil that it's just a tad too soon to put any perceived communication sleights down to incompetence rather than developing a plan that maximises sentiment improvement.

I'll give him another 4 weeks before I too start to get a bit rattled by what would seem like a continuation of shareholder disregard.

I agree that this seems like an overreaction although I can understand why some investors are losing patience

The main disappointment is slow progress on the lithium front, the process to find a partner (now partners) seems to be going on forever but I'm sure there will be news on this soon, maybe before the next quarterly operational update. The second disappointment is higher than expected AISC but that'll come back down through the rest of the year. The margin being seen, even at say $28k aisc, is the best Andrada's seen in 18+ months. And it's even more guaranteed now with ~25% hedged at $33k, although obviously limits the upside slightly if tin prices take off.

I thought this was the best bit of news in this update:

'Further assessment and modelling of the integrated plant has resulted in an increase in the planned petalite production tonnage from 30 000tpa to between 40 000tpa and 50 000tpa.'

Call it an additional 15000tpa petalite at $1500/t, that's an extra $22.5m.

I can understand the fall but 52 weeks lows despite having secured Orion finance deal within that time frame, DBN financing, closed to Namibian bank financing conclusion and very consistent tin operations with improving margins seems excessive to me.

March 12th two purchases by Lincoln Moore, 500K followed by 1.16m. Average ~1.55p

April 15th one purchase by Aristide Achybrou, 1.1m shares. Price ~1.3p

These were just before closed period with full year results next week. Cashew operation signalled to see material improvement in volume and quality once shelling and peeling equipment arrives in June.

Hopefully close to a turnaround here.

Of course there's a risk, there's a risk of failure but it bodes very well for Arcm that these Zambian licences cover many of Anglo's top exploration targets. Botswana reduces the risk further by having another 'shot on goal' so to speak:

https://x.com/BigBiteNow/status/1755895067699454248

Some actual accumulation going on in the run up to the final results next week!

PI100, history repeats. I agree that if a pandemic was thrust upon us suddenly we wouldn't see a 12000% move here from top to bottom like last time but there is no doubt about it that this would be ramped to high heaven and those holding now would see 300%+ , probably more, even before a test was sold.

You know full well that if a pandemic is sprung upon us that company's like Novacyt will immediately multiply in value just off sentiment and ramping alone, whilst the broader stock market sells off.

And I appreciate you continually banging this drum.

So what you’re saying Davand is buy Novacyt and wait for the next pandemic (sorry plandemic) and let 2020 play out all over again?!

Good call!

A tier 1 copper deposit discovery in Zambia and you can double that prediction and some.

On the one hand we have the negativity and uncertainty that comes with these mining application rejections and on the other we have the good news that all is apparently fine with the JV and that Anglo will be starting the drilling campaign soon. Short term the former might just about take precedence as the sp trades below what it did prior to Monday's news but once the dust settles in a few week's time I'm sure the latter will become the more important factor and sp will be back above 1.8p.

The mining application rejections are a reminder though of the numerous risks that come with investing in small cap companies, risks that are not even on most people's radar. It's a reminder that small cap companies are inherently riskier than larger caps, even if some think the particular small cap they've invested in is different, is unique.

I’m often the first to highlight when it’s closed a period and have also argued that they might have been in a closed period for a while, as much as 12 months.

But now with the dispute resolved and the audited full year results released there can be no doubt that it is no longer a closed period… so let’s be seeing a director purchase or two Lyn!

Ha I think we all know WBAFC added a 0 or two to his share count for some strange reason.

(i) it's between £3m and £3.5m, not £4m

(ii)they took a good few million more at 50p than planned so using that to prevent further dilution at 40p, 20% lower, makes sense

(iii) the commentary in the last 'issue of equity' rns proves they were really considering it and now there's a CEO in charge that understands the markets much better than AS so yes, I think it's highly likely the next payment is settled in cash.

At worst I expect a cash/shares split.

Well hands up those that have as many or more shares as Gordon... I'd guess there aren't many on here...

I'm certainly not in the 150k club!

I'm using the term failure I guess in the financial sense, becoming insolvent. If we're right about a £7m+ net cash return when all is said and done then the risk, as far as AIM companies go, is quite low. Cash runway for at least three years and no debt is not in the same ballpark of risk as your average AIM stock.

That's not the same as actually seeing a healthy return from here though.

Production has highly likely ground to a near standstill, it's hard to imagine the declining trend is going to be reversed without a cash injection and we were informed that operations were currently being run 'intermittently' ... Shishir never underplays anything. We saw Q1 - 2371T, Q2 - 2137T, Q3 and Q4 averaging 1294T each so I think at best the H2 numbers are being seen currently.

Fair point about the current assets Saluc, that'll be what's keeping TGR going for now. Cash of just £189k was never going to last long but selling of the inventory increases the cash runway considerably longer and anything left will be paying off long overdue creditors.

CS you at least have always maintained your view that LR knows what he's doing on the 'playing the AIM game' front. That's either changed over the past few weeks or there's a reason behind the way it's been done so far, possibly as discussed... director buys coming first and then a separate rns highlighting just what the outcome means in reality vis a vis vat returns etc if in a few weeks there's nothing then I'll concede on this point.

Surfie, I hear you but there's still the potential for a sizeable move from 45p if, as many of us assume, the net cash result proves to be positive. There's a lot of stuff here you're getting for £30m mcap although I accept that the risk of failure isn't negligible anymore.

The make up of the board is the key differentiator here and something the market is simply overlooking imo.

Of course it doesn’t guarantee that DEST won’t end up in the same mess as other cash-hungry small cap biotechs but the combination of having Chris and Nigel here and the NPV of XF-73 alone gives me confidence that they’ll be something better on the table than a heavily dilutive placing to fund the p3 trial.

The reaction isn’t a big surprise as, for the time being, it leaves uncertainty re the cash position.

I firmly believe it’s intentional though, it allows the DHSC to publicly claim victory and ncyt to quietly and inconspicuously move on with an even stronger cash position and the foundations in place to now build a serious business.

I can see director buys in the coming weeks as the point in which the bottom is confirmed and so I decided to add now it’s retraced all the way to 45p.