Member Info for HarChris

£1.045m raised Jan 17th, £189k left by the end of March, I suspect absolutely nothing left now.

I suspect debts to key suppliers are racking up now and there's the CLN coupon to be repaid in July. If the rebate isn't received by then and no further funding do the CLN holders pull TGR into administration?

Thanks for sharing jk, I’m sure most of us would be delighted if we see half of that broker target in the next year - I certainly would!

It actually strengthens the argument that this is as much broken markets as incompetence unless you think just about every aim CEO has destroyed shareholder value simultaneously?

Haha I bet there’s many on here that do report his posts as they’re so desperate to have such quality posts removed!

A reminder that end of June 2023 there was €212k cash and €5.1m debts maturing within twelve months - they've all been paid down now I believe without any raise or cash injection, just profit and extra stockpile so that should give a sense of what the full year numbers are going to look like.

If cashew operation flips from cash drain to cash generation DKL will quickly be making profits greater than today's market cap.

Do explain what trend you're seeing? Production was 2350T in Q1, 2150T in Q2 and an average of 1075Tpq in H2.

That's against supposed capacity of 7500T per quarter and utilisation of 75% by Q3. The miss is more than anyone truthfully will have predicted.

They're still generating quite considerable cash month on month from the CPO operation so in a sense it's steady as she goes.

Full year results in June should look quite positive showing a healthy profit but of course everything rides on cashew progress through H2.

Looks like it!

There will be money to be made if you're nimble and get a bit lucky with timing but it's high risk for a number of reasons. I might look to buy in with clarity once the placing is done and dusted but not beforehand.

Anyway I won't talk about gdr again as it's distracting from some excellent recent posts on here... I'm going to report Poidster's post from yesterday later so that nobody misses it.

For me it's a huge risk because they are signalling that they need at least £6m and yet they aren't close to raising that. Today's update:

'Accordingly, the Company needs to raise a minimum of approximately £3.9 million (gross) from the REX Offer and the Open Offer so that the Minimum Proceeds are raised.'

If the share price goes below 1.5p it will look attractive but will mean nobody takes up that offer and then they will possibly go bust - i'm staying out.

2600T production in H2 is appalling.

If the share price/market cap wasn't so low already this would fall 80% today but there will be some consideration for the high quality Mozambique assets I suspect.

The business has completely stalled with no cash left waiting for tax rebates.

Kaeren my guess is that it's a couple of factors but largely this:

'Should the Company receive the net proceeds from the Firm Placing but no proceeds from the Conditional Placing, the Rex Offer or the Open Offer, its cash runway will remain extremely limited, it will only have around seven weeks of working capital and the Company would urgently need to seek further financing which may or may not be available at all or, if available, may be on commercially unacceptable terms and could lead to more substantial dilution for Shareholders than would be the case under the proposed Fundraising.'

So £2.5m (gross) is equal to 7 weeks working capital? That's pretty extreme even if it's partly for a renewed r&d drive. There's also still a lot of uncertainty as to when significant revenues would start to be seen and no timelines for any cash flow break even goals. So an interested buyer was still probably looking at offering around £10m to be accepted by shareholders (they wouldn't have known the alternative was a 1.5p placing) and then immediately put in another £6m for initial funding.

If like you say the products are deemed so good that wouldn't be an issue for a major but for any midcap company, even cash-rich novacyt, it's a risk.

i genuinely foresaw a 1.5p raise, well i wrote in my trading/investing notebook '1.5p-1.75p raise' but it's hard to share your thoughts on that sort of thing without looking like some ******* 'wanting to get in on the cheap' so the most i did was share what went down with yg. in this market it's almost never a good idea to get in before placing news however much it's already fallen, at best you might be on the right side by 5% but at worst, well 70%+ it can be.

Well there’s the dreaded rns for Genedrive…

It solidifies the point I’ve been making about the strength of cash-rich Novacyt but it’s rather sad for those guys

My post earlier about being pleased to have Poidster back sure was an understatement - superb!

Totally lifeless in the run up to the next monthly CPO update. Tomorrow or Monday, what do we think? Any mention of the cashews or saved for the quarterly update in July?

We should get a bit more detail and reasoning in the audited full year results...

'The Company now expects to issue its fully audited results for FY23 before 10 May 2024'

In the next hour?

'Why else do you think SPR want the deal done before end of May'

_____________-

SPR are keeping BMN afloat and in return acquiring 100% of Vanchem instead of 50%, at a knockdown price.

That day corresponds with the next payment to BMN from SPR, the $5m, so if the deal is rejected or falls through before May 31st the $5m will be withheld and BMN will have to find a new lender or halt operations.

None of these entities are second guessing or pretending to predict short term price movements in V.

If that's what you means Lamps?

Craig's spoken about this twice now. The strategy they set out in December relied on the price to at least average what was being seen in Oct/Nov, which he considered conservative, but it has fallen between 10% and 17% across their markets since and that in conjunction with all the messing around from SPR and Acacia has led them to this position.

It appears you are yeah.

In 2023 March was when the highs were seen but by May V had sunk considerably. The 360 day prices are what needs to be compared as that's when Craig started, so you'll see from that site that V was low when Craig started mid 2023 and now all prices are have fallen considerably year on year (360 day column).

Also asianmetals isn't very reliable for the US and it's that price that's sunk the most since Craig took office.