Member Info for HarChris

Hoe do you conclude that? I'm not saying we won't get an rns but there's no 14th March deadline like there was for SPR, all we have is this:

'Acacia Resources Limited - Subscription Monies

As announced on 05 December 2023, Acacia Resources Limited ("Acacia") was due to settle its subscription of US$3.5 million on or before 28 February 2024. The Company has not received the subscription monies from Acacia. Acacia requested a further two-month extension to settle its investment, which the Company denied. Acacia is, accordingly, in breach of the terms of the subscription letter which it signed with the Company on 30 November 2023. The Company is actively engaging with Acacia to resolve this issue as quickly as possible while reserving its right to take appropriate legal action.'

Well my point is Genghis the company pride themselves on resourcefulness and having industry low capex requirements. *They* claim they need £1m working capital to make significant progress, a very small amount.

They need a higher share price to be able to make progress without excessive dilution. If they can make positive progress on all that they have claimed to be focused on (CFO, two new NEDs, stabilising production, reaching profitability) , all of which require either no cash or the maximum of £1m for working capital) then they will have vastly strengthen their hand and be able to raise considerably more, both in terms of equity and debt.

The reason they are here is that they've failed to achieve as much as they argued they could achieve this year with no cash and in the meantime Shishir's way or the highway approach has led to virtually all the NEDs leaving and put investors off, understandably.

Your posts are getting more and more nonsensical LW.

I don’t think anyone thinks he’s going to food banks but that doesn’t mean he has millions sitting around in the bank and could simply lend TGR cash himself - the personal guarantee for the establishment of working capital facilities would probably be backed against assets of his.

Most CEOs won’t even invest a penny of their own money let alone own 28% of the company and provide personal guarantees against loans, that’s a lot more invested than almost all CEOs.

I sit here wondering what I would be trying to do now if I was in Argo's management team but the truth is there aren't any good options. They can't raise debt and they can't raise enough to do anything more than pay down 10% more debt so really it's a case of pray BTC goes higher and higher so that they are profitable next month after the halving ($105k BTC?) or perhaps attempt to take the company in a different direction so as to create at least a temporary sentiment boost.

What they'll probably do is try to get a raise away just to continue paying their own wages for an extra six months.

Is there any information out there on his personal wealth or are you just assuming he's a multimillionaire?

KilkennyTed please can I have a guess at the combined profit of those other 4 during the pandemic?

Is it £0?

Syrah raised $98m just yesterday and it's operations are nextdoor to TGRs Mozambique mine and away from Cabo Delgado - so I think if Syrah aren't putting out statements at their developed active graphite operation then there's no call for Shishir to be doing the same re their own undeveloped plant.

Anyway it's the ban on local wood that's the main reason for their divestment, it's being sold so the jurisdiction is obviously deemed viable by the buyer.

They aren’t far off running a modestly sized cash generating profitable operation, there’s the cash flow for you and we’ll also be looking at a totally different outlook if that is achieved for growth.

Cash isn’t the main problem right now, it’s doing more with what they already have.

Well in August it was ' in due course' in December it was still 'in due course' and by March 'imminently'

There's a progression in language at least following the recent meetings with government representatives.

Yes Genghis TGR received just £1m vat refund in the previous year whereas this year in the full accounts it was filed under "trade and other receivables"

No suggestion that it's in anyway contested, just a reality I suspect of operating in a country as poor as Madagascar.

And look at the reaction as soon as they signal cash break even is in sight! We’re talking 7X cash valuation and that’s on the hope (and words of the CEO) alone. No guarantees whatsoever.

If ncyt achieve the same eighteen months down the road we’ll also be talking such multiples hence I see £200m+ valuation as achievable and that’s why I’m still here at £30m.

The massive amount of cash ncyt made during covid. All the others were forced to reach profitability in the short term, ncyt have a much longer time horizon.

You can see ABDX is almost there but with just ~£1.5m as of today they are still up against it.

Yeah I've certainly learnt to avoid unfunded companies / those that aren't unequivocally heading in the right direction.

And also learnt to ignore what management says re funding - if they claim they are good for X months they are almost certainly raising in X-3 months time.

I agree with all that you're saying except you won't accept that the cash they require for the next stage, which if implemented successfully opens everything up, is tiny relative to their assets and is only 50% of the money they are owed n VAT rebate. So whilst it's not ideal to be waiting that bit longer they haven't found themselves in an impossible position, they have found themselves in a situation where they need a further £1m capital in the short term to ramp up to a profitable level and they have £30m worth of assets to back any loan against and are owed £2m in cash from the Madagascan government.

IF they then fail to make strong progress then we start getting into worse territory with poor funding options but the short term funding needs aren't a big problem.

Likely it will be tons of shares executed at 3p and the share price will fall back to that.

Something to think about in the future rather than today at 1.8p.

It proves/adds weight to the long term copper price narrative which will vastly increase the value of the assets Arc owns as and when discoveries are found.

No, and once the dust settles on this (another week or so?) I imagine focus will turn to the ever growing copper hype as copper price has started taking off and reaching 52 week high.

Ps look forward to watching your vid!

The valuation can't really go any lower now (relative to financial situation) unless there is further fear created regarding foul play/suspensions, hence what is happening now.

If you were genuine you'd just sell and be off quietly into the night. The fact that you're willing all these allegations made by yourself and one other (possibly the same person) to be true proves you aren't.

Auditors are independent and they signed off the last accounts so either they grossly failed in their duties last time (and every time) around or you're milking the current situation for your own gain.