Member Info for HarChris

There aren't many options for Chippas though at this stage. You either take as much cash as you are offered as often as you can and simply increase your chance of survival (continuing to earn a ceo salary and 9.33m shares a year) or you take the gamble and wait and hope that the share price catches a huge wave before you drown.

With the market's awareness of Argo's constant cash needs I doubt there will ever be the potential of enough of a rally to make the latter a risk worth taking so it probably is in his interest to just raise as often as possible.

Really it's a case of what comes first, running out of working capital or the next debt maturity deadline? As of 30th Sept they have $13.7m of debt maturing so only a small proportion of the overall debt but still a reasonably sizeable sum.

Unless they can raise enough beforehand to push both those things further back but we're still forever delaying the inevitable and it won't be too long til the fleet of machines will need to be replaced just to continue mining 50 odd coins.

How do you know he's still active on Linkedin? As far as I can see he never posts anything and only occasionally likes a post, the last being 5 months ago. Clearly not a tool he uses (but should, admittedly).

That's almost like an Argo default countdown too.

Argo's cash flow break even must be at what, around $6m per month revs? i.e $100k if mining 60 coins a month? Be interesting to see if this new ceo has some unexpected Ace up his sleeve but the outlook is grim.

In May*

Am I right in saying that Argo is going to see just over two weeks in April pre halving and just under two weeks post halving? So we'll see something like 110BTC mined in March, 85BTC in April and maybe 60 in April?

Why? Yourgene was valued around £70m before covid even existed and now they are a debt free part of this group... There will be a lot of interest in a diagnostics company fully cashed up with no funding requirements, so once the dispute is behind us.

That 'wee rally' is coming soon.

Yes fre I'm hoping the next rns relates to the $2m being received and with it a declaration that no short term cash funding is needed (but still securing the credit facility) - that would give a healthy boost to the share price.

Well if they can keep up the momentum and get the share price at least back to where it was in Jan i'd happily participate in a small placing for the other £1m. Not the end of the world if that's needed for ramp up.

Exactly. This rns certainly isn't enough for a rerate but if we get news that the $2m has been received, perhaps an update on NED/CFO appointment and also further uptick in graphite prices we might just see some momentum into the full year results due late April/May.

So I was going through the numbers in the updated broker note and it does capture some of the Naira devaluation but for 2024 they forecast 806 to the dollar when right now we're actually seeing just shy of 1600 to the dollar - that's a full 50% depreciation against broker forecasts. Again it can be assumed that Nigerian inflation is factored in as the report is recent.

Operating costs are expected to be $109m in 2024 according to the note, I wonder what difference this is now going to make - could it be tens of millions in extra profit?

This is a positive ‘business development update’ - we know they are looking for £1m cash in the immediate term, from a working capital facility / the long overdue vat rebate, whichever comes first.

Do you want them to keep repeating time and time again ‘we need cash!!!’ ? We know it, that’s why the market cap is at 30% of its net asset value but considering that’s the case today is a positive update (and the share price is up)

'· The Company has seen significant signs of a turnaround from the subdued price of flake graphite in recent weeks and notes the forecast by various reputable market research entities of a potential flake graphite shortage to kick in over the next few quarters. '

It does at least make this an interesting time, especially with TGR at all time lows.

~1100t is break even at a group level and they are aiming for 1500-1600t in the immediate term. I get that historically targets have been set too high but it really isn't that far fetched to believe they will not only be ebitda postive but cash flow positive fairly soon. Graphite prices and basket price rising only increases their chances of achieving the above.

There were two posters on here (probably the same person) that kept predicting imminent suspension - well this is certainly putting that nonsense to bed.

It’s jumbo flake, it’s therefore unlikely to be a car manufacturer.

Gallmat you keep saying they won’t raise down here because they won’t dilute themselves, then when a positive update comes out suddenly you’re saying watch out for a placing?

Which is it?

For me lots of positives that could soon make a £6m mcap look ridiculous.

Was it presumed that most of the cash was going to be funnelled into the core assets to achieve £100m revenues or, even more ludicrously, was this alongside an M&A strategy? The whole DA premierships is shrouded in mystery, after all he left just seven months after setting that goal of £100m annual revenues in 'five years'

WBAFC, James won't revert back to CFO, not when a new CFO was appointed just two months ago.

We're already seeing this with Joanne Mason as Chief Scientific Officer of the Novacyt group, not just YG and Lyn Rees as executive director

I know you keep bringing up the LTIP but it's irrelevant now, the minimum price in which any of those shares vest is about 8 times the current share price.

Your posts do highlight what a complete overhaul there's been in the executive team though, that's a big positive as it shows Novacyt are no lifestyle company offering lucrative senior management salaries for non performance. We'll probably see many of the senior positions filled by YG staff as we the group slowly becomes a defacto merger between YG and Novacyt.