Member Info for HarChris

A reminder that whilst we all fixate on the short term and discuss how to boost the SP through active management involvement there's a rather decent chance that THX will be sitting on $200m+ cash to build both a highly profitable mine for years to come in Douta and also to become a multi commodity business with lithium - if it all comes together then we'll be adding a 0 on to our hopes of 100% returns.

''Peter's career philosophy has been one of embracing change and diversity. His journey has spanned being a journalist, a co-founder, a public company CEO, and everything in between. At the core of his work lie three fundamentals: storytelling, problem-solving, and leadership. Peter has led a communications team on an icebreaker in the Arctic, launched a co-working space in Ubud, Bali, documented a mountain bike race in East Timor, and rang the opening bell at NASDAQ as the CEO of a blockchain firm. Currently, he's helping launch startups with his latest venture, PNP Studio.''

He so wants to be that barefoot billionaire in Silicon Valley going on silent retreats

Just a quick question for you CLSK/Hexam. Take the resolutions on remuneration - for example in this case are shareholders voting on the previous remuneration package, what directors were paid in 2023? Surely they've already received that money and stock, what actually happens now those resolutions failed to gain a majority?

Also wow PW really was the only one to come out of this failed endeavour with a fortune. His new job is exactly the route I thought he'd go down!

Do you have the breakdown?

It’s a French company in registry alone, how many staff actually live and work in France?

Really they are attempting to bankrupt one of the few diagnostics companies in a space that the government repeatedly claimed to be championing just a few years ago.

And bankrupting them over some very technical legalese rather than overt and conspicuous corporate abuse/malpractice.

I get what you’re saying re Chippas but he’s surely tried a lot of things re refinancing, I doubt he’s just stupid/lazy and the difference between success and failure for him is ‘a lot’ of shares.

I would read the seeming stasis as no-one willing to negotiate refinancing with Argo.

It’s a wild ride between my pre dispute outcome prediction of 80p and PI100s 10p - just two days ago he was feeling all warm and fuzzy again as the share price fell and a win for him was once again looking possible :

‘ Nothing to say really, share is tanking back to closer to where I initially said it would pre dispute’

Back in my favour!

They can have no legitimate grievances with the current ceo, he’s done all he can to keep Argo in business and exude an ostensible air of a credible future - all blame falls on the former executive team.

Kamakeriad, the trial date has been known about since Jan 2023, the election was called a few weeks ago.

Who arranged the trial date? Mystic Meg?

I can't see any reason why the DHSC would drag this out longer and longer. They aren't some nefarious misanthropic organisation, they are simply the department for health. The initial attempt might have been to strain Ncyt and hence win the case that way but dragging it out longer now will simply lead to a bigger eventual payout to Novacyt (they've proven they can last it out) and more taxpayer money doled out.

Interesting voting …

Is it right that TGR are able to issue RNSs regarding the special resolution and therefore reach the whole investment community whilst in response there is no proportionate mechanism for the requisitioners ?

Genuine question- it seems to me every man and his dog discussed the most recent rns but hardly anyone will view the reply.

Pay attention to what’s being posted on here if you’re going to contribute otherwise you just come across as a cartoon angry man with a throbbing vein across his head.

No update on the website or rns so assume the hearing continues today?

Yeah Wilson with such a significant cash runway and considerable assets (especially YGs) I think a reasonable valuation would be something like 2X cash following dispute resolution, with that rising or falling over time depending on progress towards profitability or dwindling cash without the requisite progress.

We know from latest results that current cash burn, stripping out one-off exceptional items, is ~£13.5m with £5m+ of annualised savings to come so should be looking at more like £8.5m outflows to begin with.

A settlement that leaves NCYT with say £60m cash would correspond to ~£120m mcap / £1.70 but how the market actually reacts is anyone's guess.

Likely positioning more for the cashew update in a month’s time with the safety of what should be continual solid cash generation from the CPO operation.

Full year results landing this month won’t look too shabby either.

Haha I’m not sure what closet you’re referring to but I’m certainly still here, still standing and waiting patiently for this desire to once and for all be done with… and in our favour 🙏

Yeah was thinking it possibly related to that, couldn't think of anything else. Thanks K - be great if the report is quickly uploaded like the pre trial hearing.

Genghis did mention August so knows the deadline is end of July (four months after end of year which is March 31st) but the point is the audit takes time so would expect auditors in place now doing the work if they accounts are to be signed off in seven weeks time. This is especially true after all the issues last year which led to suspension and also the 'quirky' accounting we saw in the interims that showed ebitda going from negative £600k to positive £8.6m !

Between that time funding needs to be sorted, if only to meet the July coupon. It's not scaremongering to highlight what a mess this is and that at such a troubling time energy and focus seems to be directed at winning a vote rather than saving the company.

There isn't much choice, Shishir shared what sort of terms debt would be on yesterday in the rns and that was frm a time when the outlook wasn't so poor.

The only non dilutive option I can see is selling Mozambique assets but a distressed sale would probably only fetch ~$6m and TGR would need to demand upfront cash too - solves near term liquidity issue but that would be that on the growth front.