Member Info for HarChris

It's not, unlike HUM, going towards paying down massive debts.

Now there's a case to be made for almost all gold miners currently vs current gold price but it's strange for you to be so fixated on the fact that yes, SRB's cash will go towards building out Coringa rather than into the coffers. But we're talking building to a 100k oz operation largely self funded, what's not to like?

That's harsh CLSK, can't you just keep your trap shut and wait for BTC to rally and encourage all the fools to chase after it so spitfire can get his exit price?

BMN don't have much choice because of their financial position, not because they have a gun to their head.

So it's not hostile.

Exactly donmac focus on the cash generated and ignore the noise where applicable.

This quarter SRB will be making ~9250 oz x ~$800 margin = $7.4m /£5.8m cash. That's 14% of the current valuation, in one quarter, for a company already sitting on a net cash position. That's 42% of the current mcap in three quarters, by the end of the year. That's probably 75% in four quarters when you factor in the uplift in production 2025 onwards.

The numbers are massive and will increase considerably once (if) the licence is approved, yearly cash could end up exceeding today's mcap as soon as 2026.

Https://www.businesswire.com/news/home/20240515289077/en/Largo-Reports-First-Quarter-2024-Financial-Results-Cost-Reduction-Measures-and-Productivity-Initiatives-Underway

Perfect example of what I've been saying about FM and the precarious position he left Craig in. Largo took a more pragmatic and lower debt approach over the past three years and so despite failing to grow their vanadium operation they continue to manage this difficult V downturn with relative ease. They also built a new, differentiated revenue stream (ilmenite) rather than going all in on vanadium.

$13m loss for the quarter yet still, 9 months through low prices they have a cash to debt position that BMN can only envy. Yes growing pains are showing and will become major sores if V doesn't improve for another 9 months or so but when your main business is mining a highly volatile commodity this is the sort of thing you are meant to be prepared for, a 12-18 month downturn, not leave yourself in a position that causes distress the moment the commodity price turns south.

Your posts are very comforting Poidster and what a lot of us here need as we are so heavily invested.

For me the only puzzling thing is the fact that we're this close to a court case without the DHSC backing down. Do they actually think they have a case to be made here or is this just a bluff right to the eleventh hour where they then will likely back down and settle out of court? I sure hope its ncyt that aren't backing down right now behind closed doors and that's the only reason there's still a court case booked in.

As someone who understands the AIM market as much as one can (and it's an ever changing beast!) there is no doubt that the risk averse market is pricing Novacyt to lose here, they are siding with the Goliath (government) vs David (small cap diagnostics company) in as much as weighting the odds towards a loss. This has to be priced wrong...

So if the result is anything but neutral the share price goes a bit crazy, at least in the short term. And there's a good few of us here that have doubled down in recent times to give ourselves a chance to make our money back and some so the outcome here is a very big deal.

Interesting weeks and months ahead!

You either believe a conspiracy that this group is able to pull everyone associated with TGR in or the common denominator is Shishir and all those associated with him are therefore cutting ties.

I'm not trying to claim I know which of the two it is but usually the most obvious answer is the true answer.

After Isabel resigned and the share price made it's next move down to 6p and shareholders started panicking Shishir's response to many of us via email and other mediums was (paraphrasing) 'look at the photos online of us at Madagascar, Christian Dennis, Murat and I'

That was his attempt to say that the frustrated NEDs were outliers yet since Murat has resigned and so has Christan (Optiva ceo).

It's a total mess and it's looking like administration could come as soon as July if the CLN holders aren't paid.

Well instead of just saying it won't retrace all the way back to 60p I went ahead and bought my final pre-dispute outcome shares - 4000 more tucked away that should return at least 3 times when this sorry saga is behind us.

Not long now to wait. My advice would be to simply click on this link when you're feeling a bit nervous about the next few months and have a read: https://www.lse.co.uk/profiles/poidster/

It absolutely was Fortune that did all that but it was also Fortune that took on massive debt and failed to build the company with that funding and left BMN vulnerable to predators like SPR ever since. The board moved to install Craig before it was too late but there was always going to a bit of luck on his side needed to and he's had none of it - V sinking ever since his appointment and nefarious entities taking advantage of BMNs precarious position since.

You call it 'happy', I call it the best of some very bad options. I firmly believe that rejecting this will lead to shareholders getting zilch rather than very little and by my maths very little is greater than 0.

You say 'SPR is not the only way out' but i'd love you to share the other options that are on the table as you must have been in those discussions? The real truth is likely that all the other predators were quite happy to wait for BMN to enter administration before poring over the remains.

FM had a clean slate following covid, a debt free balance sheet in which to grow the business with 3 years to get it right from there and with V around $40/kgV for nearly half of it (including significant post outbreak of war in Ukraine spike) but instead left after those three years with no growth, an electrolyte plant with no orders and the business with $3.7m cash and $94.4m debt.

Absolute nonsense, the share price erosion started when Craig was left to deliver the interim results in which Fortune had fully presided over. It was in those results that it was revealed that BMN under Fortune was still haemorrhaging cash with averaging close to $40/kgV. The fall out of that period left the share price at about 1.5p, so at least start from there.

As for FM, anyone that thinks a founder that lists a company at 20p and leaves over a decade later at 90% down has been a success is struggling with cognitive dissonance.

Aasin that appears to be the case but we have absolutely no idea what intermittent means. Is it essentially a halting of production with only essential maintenance continuing or is it low levels of production like we saw in H2.

A distinction should have been made but like with all things TGR the worst case is usually the actual case.

"In addition to the Placing, the Company has accepted a subscription from certain directors and members of the senior management team listed below (the 'Subscription') for 5,663,635 ordinary shares of £0.025 each in the capital of the Company (the 'Subscription Shares') at the Placing Price to be satisfied by set off against certain amounts owing by the Company to the persons listed below in respect of past fees or remuneration in respect of their office with or engagement by the Company.

To avoid the Company incurring additional costs in respect of regulatory requirements under the U.K. Prospectus Regulation regime, the issue and admission of the Subscription Shares will be deferred until such date as the Company has sufficient headroom to admit the Subscription Shares without having to issue a prospectus. It is expected that admission of the Subscription Shares to the Standard Segment of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange will be on or around 24 April 2024 (although this would be further deferred if necessary to ensure that any issuance is not affected during any closed period)."

_______________________

The transaction completed slightly later than initially planned but it was always completing months after the placing... there are many reasons why TGR is in a total mess and there's a lot to be conspiratorial about but this isn't one of them.

Well done to those that called it, I hope you made money alongside your bragging rights.

Personally I'm not worried, think this is a combination of unwarranted fear and knowledge that we're still a few months away from any meaningful, trend changing results.

Will let it settle then add - hopefully Mike puts all these rumours to bed well before the AGM in mid June.

Is that how the Zambian lads describe their geography? 'We're from the African midlands!'

If you travel directly south from Lusaka to the southern coast it'll take you about 2500km on foot, if you travel directly north to the northern coast it'll take you about 6700km... Angola, Zambia and Mozambique and below are generally considered Southern African countries, not central.

Good to see your AI algorithm working again after its recent glitch.

Thanks pedro.

In two months time with POG staying at this level SRB will release their best ever quarterly results by some distance - ebitda not a million miles off what they produced for the entirety of 2023...

We've seen these overreactions numerous times over the past few years and everytime it's pushed back to new 12 month highs. It's likely that'll happen again here.

They were all given shares in the placing in Jan but only the three current directors have to TR1 their new positions. These are the new shares issued in full:1

Mr Shishir Kumar Poddar, 2,727,273, £300,000.00

Ms Isabel de Salis, 109,091, £12,000.00

Mr Hemant Kumar Poddar, 454,545, £50,000.00

Mr Uday Pratap Singh, 200,000, £22,000.00

Ms Puruvi Poddar, 1,363,636, £150,000.00

Mr Christian St John Dennis, 300,000, £33,000.00

Mr Alastair Bath, 54,545, £6,000.00

They can't pay wages because there isn't the money in the business to pay them with.

I'm still a bit puzzled as to why Alastair bought 400k shares in March. I remember it well at the time and led me to think some progress was finally being made on the ground but we recently learnt it was the polar opposite - production had ground to a halt at that stage and cash was probably down to just £200k yet Alastair bought plenty of shares depsite having inside knowledge of just how much of a production miss they were going to report in two months time?! Odd.

Also looking at the cash burn through mid Jan into late March they must surely be totally out of cash now? Has communication and lack of transparency got so bad that operations are now essentially halted without any informing of the market?!