Member Info for HarChris

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.

I’m pretty confident there won’t be anyone on here that views the below information as trustworthy news!

'Do we have enough uk holders to call an egm ?''

No I highly doubt it and it would be across too many of us making coordination and proof difficult.

It is interesting to see how stable the share price is and how low the volume is - nobody is buying in off the back of the AGM news and the requisitioners aren't selling either - total stalemate for now.

These are the variables that matter to Argo. Previously we had a race between the bull run and running out of cash but we now have that with the addition of the end of December as being a deadline for the former to occur.

There's lots of debate on here over the cash burn for Argo right now which won't be fully clarified til the interims in August but we all agree that they are losing cash each month. So we have six months at the very latest for the Argo SP to get swept up in bitcoin euphoria and that reduces if BTC/difficulty /operational issues change for the worse.

I remain of the opinion that those interims will be a critical juncture in which things have to have improved by.

It was never going to be easy to raise debt financing having already got in such a mess simply over the interest on what is just £2.77m debt, twice now tripping up over it.

I'm still expecting next month's cln coupon to be navigated okay but I'm less convinced that the required funding for ramping operations back up, expansion and paying staff will be forthcoming.

The XF platform does look extremely promising so I remain hopeful.

I suspect there won't be too much movement price-wise though until we've heard back from the company re the strategic review of options which was signalled for the next week or so.

It’s not hard to work out what they need for the P3 trial and for general working capital purposes. Essentially very modest sums we’re talking for what it is but significant against the incredibly depressed market cap.

Fair enough Paul, I thought the most recent US update had it just above $28/kgV and Europe $27.5/kgV, something like that but I'm not following so closely anymore so might be wrong.

Still think it's probably close to that price though.

'@HarChris - I'd say it needs to be much higher at +$35 just to tread water.'

I did say ~20% higher than it is now just to tread water. Currently I'd imagine BMN's average selling price is about $28/kgV so that comes out close to that $35 and then about $45/kgV to see a recovery of sorts.

Well selling Vanchem was a necessary evil to keep BMN in operation. To survive the next few years now doesn’t require a massive increase in V, it requires a small increase of ~20% back above $30/kgV but it would merely be surviving, meeting debt repayments with minimal capex directed to Vametco.

To actually get back on track somewhat requires a massive change in V price, ~ 50% from current prices and ideally a spike much higher along the way.

I’m not convinced by many of the bitcoin modellers. It strikes me that in every bull run (and bear) a handful of them appear to have made very good predictions but really it’s akin to the lottery where there are always going to be a winner or two.

Those handful build a sizeable profile and then have millions of disciples until eventually most cotton on that they aren’t actually capable of accurately predicting bitcoin price movements.

Capo is a good example.

''Vanadium forms about two-thirds of the value of the electrolyte, which in turn forms about a quarter of the landed cost of a battery, and so a fluctuation in the price of vanadium will impact the profitability of battery sales. '

If the vanadium price spikes in time due to large battery manufacturers demanding enormous amounts of vanadium then I'm sure there will be fixed price off-take agreements in place to ensure long and prosperous business relationships - it won't be good for the producers either to see the boom bust cycles of old.

As for partnerships IES has an MOU with US Vanadium although they don't have a particularly big electrolyte plant. For now IES' batteries aren't consuming all that much vanadium but they will soon and I'm sure we'll hear more re electrolyte partners and long term pricing models as the company and sector matures.

It's still pretty difficult to get one's head around the share price here.

Having followed the company for a little while I decided to buy in off the back off the 'Major Contract Win' in late February. I let the dust settle then bought at 2.5p thinking that was a good entry considering the progress being seen but there's been absolutely no interest since even after announcing record revenue of over $2m for Q1 alone and the recent very exciting new chair appointment.

I guess it's a case of the company claiming they are funded to cash flow break-even in 'the short to medium term' and the market sticking two fingers up and saying 'yeah right!'

Let's hope for something positive around the AGM.

Haha yeah they’ve just raised nearly £60m but none of those funders bothered checking if there’s any margin to be had on their new Mistral batteries - shame ilovesushi didn’t reach out earlier to save them all that wasted cash!

There was only one today, it's just an LSE error.

(There we go, that's both LSE and I)

There was only one today, it's just an LSE error.

I first bought shares here in 2023 around 5p primarily for the lithium, with the tin (and tantalum) considered as bonuses however in recent times I've come to realise just how important a commodity tin is to be exposed to. There are plenty of factors that mean that buyers globally could withstand considerably higher tin prices, probably as much as $60k/t without there being an incentive to look for substitutions... and that's not something true for many other commodities that are set to see growing demand due to the energy transition. The article that best explains why tin prices will likely remain strong for years to come is linked below:

https://www.linkedin.com/pulse/inelastic-demand-obvious-new-supply-create-perfect-07p3c/?trackingId=V3SaugIKQeGvvpLsDoX2Xg%3D%3D

I've started adding and adding over the past few weeks ready for better news flow through H2 of this year.

Well Chris continues with the narrative that non dilutive partnerships are the focus and there is no change to that - there can never be guarantees that management pull it off hence can't stand there and rule out a placing but the focus in this whole trial redesign is to find willing partners to fund XF73 through P3.