Member Info for HarChris

In other words success hinges on successful renegotiation re the short term liabilities - hopefully achievable now that positive cash flows are close.

Hopefully now CC will stop nostalgiamaxxing about her career and start replying to LDA promptly like she did in the past. Back to basics.

These financial statements have been prepared on the going concern basis. Management have prepared cash flow projections which indicate that the Group will start to generate operating cash flows from its projects in the near future. Post period, the Group has signed agreements with Daemaneng Minerals to operate and manage both mining and DMS processing operations on a capital-light basis.

The projections indicate that further funding may be required in the short term until such time as the Group is generating operating cash flows. The Directors are confident that the Group will be able to raise funding in the required timescale, based on discussions with finance providers and its history of fundraising. However, while the Directors consider that there are reasonable prospects of securing such funding, the timing and outcome of these matters are not wholly within the Group's control.

It sure is. Lots of positives alongside the obvious re building liabilities. Hopefully the start of positive cash flow going forward.

You're totally ignoring the market backdrop and acting like you're there in the room. With major market uncertainty I doubt there are tons of investors queuing up to pay a premium for Avacta stock right now. If they were already seeing it as a bargain they'd have been buying on the open market as it is.

The timing of it and the weak hand Avacta had (they can't run this 6103 trial without near term funding) weren't exactly the idea conditions to go out and swiftly land a premium raise and as it was so small relative to market cap it makes no fundamental difference this time (compared with the £32m raised at 50p under AS).

If it hasn’t been done at a discount Avacta would be issuing 14m shares rather than 15m - I guess it’s not worth playing hardball with prospective investors over such a menial difference in the grand scheme of things.

Novacyt?

It happens but it's rare, always a perfect storm of factors. SOLG from what I understand moved from about 7 to 32 last year as they secured major debt financing perfectly timed alongside the gold price rallying from $3k to $5k. Neo looked like it might do the same post relist but the moment was lost and it feels like first we'll have to suck up a fair bit of dilution first the coming months via the SI.

The agitators have disappeared now Avacta is funded through the rest of 2026, that was the main deramping angle.

Spodumene now at a 2.5 year high of $2313/t

Tin $46350/t

These are holding up incredibly well against the war backdrop.

Personally I feel I could end up making a meaningful return from SQM buying Lithium Ridge alone. This is a $24B business likely close to completing a massive 14000m drilling campaign as we speak. This isn't small fry, most early stage scout drilling is in the 2000m-3000m region, what we have with SQM is an aggressive drilling campaign of a district-sized lithium system... if results in the coming months come back positive I don't think there's any doubt that the remaining half of LR gets bought out for a good few hundred million £ at a minimum ie 10p+ and could be many times that. This alone is worth being in for.

We then have the decision re Goantagab. The silence is highly likely due to discussions going on behind the scenes by all parties. If it goes Andrada's way then overnight the ATM share price rerates, we're talking profits increase many multiples with access to grades 11 times greater than at Uis and with the jig plant ready to go. If that news came whilst the tin price was here at $45k+ the profits would be off the chart.

When you bear in mind those two plays the positive cash flow generation at Uis that will currently be covering all group wide costs suddenly doesn't look so insignificant. If the jig plant boosts production subtly in the meantime through high grades and steady progress is made with the ore sorters then we're looking at a healthily profitable operation whilst we wait for one of a possible two major catalysts to land in our favour.

This is before we talk of Brandberg West which has for many always been considered the standout asset of the portfolio. Major news might still be a little further away but there's serious money committed to exploring this asset now so expect things to heat up pretty quickly here.

And with the EIB on board for the lithium at Uis at a time when the lithium price is finally looking healthy and resilient this genuinely could become a reality in the future, transforming Uis into what it was always designed to be, a polymetallic operation with industry low costs.

Yes certain aspects continue to disappoint here and i'm as frustrated about that as anyone but I'm wary not to talk myself out of an investment that can and likely will turn on a dime any day.

What a weird thing to say. Avacta are objectively in a very good place. They are increasingly showing up in very serious publications, Christina is sharing platforms and bumping shoulders with seniors executives from big pharma, the FDA has validated ava6000 through the lifting of the lifetime limit, 6103 has raced to this first in-human trial, mgmt is telling the market why pre|CISION beats multibillion dollar ADC drugs.

Commercial deals haven't been agreed on terms both parties are happy with and management think the key inflection point is 6103 data so they raise a few quid to get to that point.

After an AIM placing the share price almost always retreats to the placing price yet today it hasn't, on an absolutely terrible day for the markets. We are nearing the end game here, we're soon going to find out if pre|CISION is the real deal and today's share price action hints of what we will see in the coming weeks, a major move north.

There's a lot to be excited about.

'IMHO, it’s down to Goantagab, if any catalyst is going to ignite this. Otherwise, we will be relying on the SQM or ACAM for a discovery and possible buy out.'

Agree although that's three avenues for potential rerating. In the meantime even if the second jig as a pre-concentrator only adds on 30t per quarter we're still talking very meaningful cash generation at the current spot price of $45500. And a slight reduction in the royalty.

The path to a rerate should be clearer and more certain with the backdrop without question but it still remains fairly likely that things end up steering in the right direction soon.

Management knew how much they wanted to raise, £10m, looked around for it and found it readily available. Opening this up to retail would (i) be taking more funds than they are looking for (ii) draw out the process for longer and (iii) add considerably more paperwork.

And seeing as we've all been able to buy around 63p over the past few months there's no obvious reason to add all the work and complexities of a retail offering. The vast majority will have been okay with paying 2% above placing price first thing this morning.

Back to ECR??? What? I was led to believe this was a We Hate Mike Whitlow Disappreciation Society?

Let's be honest we're absolutely crying out for a sale that shows a genuine step change in scale, not another 10MWh or 15MWh sale, but 100MWh+ that's been promised and expected for so long now. Once that lands sentiment should return here.

Remember the other day when you were repeatedly asked to name and shame the rampers and you couldn’t come up with anymore than one name? Hence singular? And yet here we are again with you vaguely banging on about rampers. Very odd.

Anyway sorry if this counts as ramping but the choice (and yes it is a choice) to raise just £10m at this stage is bold and far from risk averse. It’s either because management are confident of landing a deal in the interim with some upfront cash attached to push runway out further and/or they are absolutely confident that 6103 is going to perform as hoped.

Personally I’d prefer to have seen some sort of deal or partnership first but other than that this is what I wanted to see (and have stated on here numerous times), a smaller subscription just to extend runway a bit further once again. If they’d have raised £20m+ this week I’d have felt very disappointed as it would certainly have suggested no deals on the horizon and doubts over 6103.

We are getting closer and closer to crunch time where we find out whether pre|CISION is the real deal or not and ever fewer justifications for raising going forward, so place your bets and take your chances. Or don’t!

The longer this goes on the greater the chance we get an operational update alongside?

I'll be delighted if there's no raise alongside relisting, to get through such a long period with such little cash would be a positive sign.

ECR have at an absolute minimum one year's cash runway. The more Raglan produces the greater that is extended, if they produce enough as Nick repeatedly states to cover all G&A 'and a bit more' then they are self funded indefinitely.

I don't think even the most negative poster on here could try to claim that £10m is all Avacta could raise right now - this £10m is restrained and fully thought out, to take us through key milestones that are coming in 2026. Exciting times.

I wouldn’t assume that it’s definitely the courts that will decide the fate of Goantagab - the potential revenue is massive, at forecast tin price possibly as much as $140m revenue a year. This dwarfs anything the safari companies can bring in and I’m sure opens the door for discussions with the conservancies to keep them happy and provide enough funds to allow mining and ecology to run side-by-side.

Personally I think we see a deal with the conservancies and eventually a deal/partnership between Andrada and the conservancies once they buy the whole project out for $15m.