Member Info for HarChris

I know Kaeren but as new individuals join the executive team that have considerable experience on AIM i'm confident that that message will get through. For now you could argue that there's a ceiling to the share price anyway, there's a limit to how high it could go with the potential for the entire company to be wiped out and the lack of any II investing we'll therefore see until that uncertainty is behind us.

This whole sorry saga has left SPRs credibility in tatters and left BMNs larger financial package looking rather tenuous, even if the $12.5m is received today or next week. It's now reasonable to assume we'll see a downgrading of forecasted guidance for 2024 due to being unable to hit the ground running on the necessary Vanchem repairs and I'm sure many investors will be more wary to invest than they were a couple of weeks ago.

All so a few mates of SPRs can buy in at 1.5p? Really? Nah no entity is that masochistic.

'· The Company notes that on 18 December 2023, the country's main fuel depot in Guinea's capital Conakry had a fire impacting oil supply in country. The Company is working with its fuel supplier contractor to minimise any adverse supply impacts at the mine. As a precautionary measure, the Company has temporarily suspended mining operations, while the processing plant continues to operate, until regular fuel supply is restored, which is expected in the near term.

· With the ramp-up of Kouroussa progressing towards the higher-grade parts of the orebody at the Koekoe deposit, the Company continues to expect Kouroussa to reach full commercial production in Q1-2024.'

I'm quite relaxed Kaeren. As tedious as it's been at least we aren't under huge time pressure to see progress like so many small caps are, simply achieving slow and steady progress over 2024 alongside a partial win in the DHSC dispute will give the market no justification for anything less than about a £2 a share, unlike now where there's still the potential for total wipeout.

I'm quite happy modestly increasing my position down here near 50p in the run up to what we've been waiting for for a few years now.

The biggest error has been in failing to understand Madagascar's (Vat and Sam) limitations and also failing to address the issues as planned. It's clear that at each juncture there was great expectation built in and at no point did Shishir think the share price was anywhere close to 'fair value' and hence there was no desire to raise.

It's led to this point where a forced raise is now needed, albeit small, at the worst possible time. Frustrating but hopefully this year has been instructive and we won't see the same sort of fundamental errors from the management team repeated.

Well sub 9 is enough for me to make HUM the fourth gold miner in my portfolio - if it goes a bit lower still so be it.

To me it's quite clear.

The immediate focus is reaching 1500T per month. I don't think we need additional capital to get there but we don't hve enough cash to get there + cover upcoming CLN coupons + pay directors. In this instance directors are taking shares in lieu of salary. And hence the £1m placing to ensure funds to become quite so tight again.

So we should be there or thereabouts already in terms of the 1500Tpm runrate... we are also informed that additional funding is necessary to fully maximise operations + increase capacity so that the company is achieving 3000Tpm (36000T per annum). We know that involves PCUs but haven't been given a specific breakdown on that front.

Ideally we'd be at this point without the raise we've just seen but if all goes smoothly from here medium term these extra shares won't make a huge difference to the overall upside. Fingers crossed for a positive update next week.

'Surely he would have sold out completely if he didn't think the funds from SPR were forthcoming?'

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All we know is that he went below the reportable threshold on Monday after a large sell, beyond that we won't know if he stays at 2% or has sold out completely.

He's on twitter though and might answer if you ask him.

'CC How do you know Sattar purchased at 3p?'

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He doesn't because it's nonsense, Kamran's average was very low.

On the 31st August a 23m trade showed up at 1.85p, this was the purchase that took him over the reportable threshold. The rest was likely built in the preceding few weeks at an average in the low 2s giving an overall average of about 2p.

On the 17th Oct we got another notification showing he'd bought another 1%, with these shares probably bought right at the bottom (16th Oct saw BMN's all time low of 1.1p).

Kamran's average was 2p max.

It suggests that the quarterly update isn't going to blow the doors off, it suggests we aren't going to see say a jump from 2250Tpq to say 4000Tpq in Q3 but hopefully the trajectory is still a positive one at least.

‘And still they are looking to borrow more for working capital.‘

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It’s quite clearly stated that additional funding is to reach 36000T per annum, quadruple the output of H1’s run rate and more than double what H2 will be.

How is that working capital?

Thanks for sharing. Only a quick glance on my phone for now but looks alright yeah? £16m/$20m revs, good gross margins but sky high admin costs but bringing that down and we see healthy Ebitda

What worries you could fill a book.

I'm actually loaded up *because* of the dispute and especially because there's now the opportunity for some progress to finally be seen in the run up to either an out of court settlement or the high court case in June.

We're now back at that stage where whilst it seems like nothing is happening we could then suddenly the SP is up 300%+ in the blink of an eye. It's happened numerous times in the past and the ingredients are there for it to happen again soon.

Just ignore, obviously a simpleton.

Despite already owning such a large amount of the company it certainly would help sentiment in the short term for the directors to buy a good chunk on the open market in the coming weeks.

A simple thing that could create a decent reaction to fingers crossed - meanwhile int. CPO prices continue to look strong.

You're being closed minded that's why and ignoring the difference between growth investing and value investing. It's perfectly fine to be focused on the latter but claiming that only cold hard profit is what matters neglects the fact that there's multibillion, even trillion dollar companies that didn't turn a profit for many years, sometimes decades and ebitda was one of the main metrics used to track their progress.

One thing is for certain - no terms will be as good as if they had raised £6m when sp was 40p last summer. We would have massively moaned at the time but we didn’t have the benefit of knowing how tight cash is '

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You should have known how tight cash was, it also has been. The problem this year is that guidance for Q1 was initially 6100T-6500T and was therefore assumed that yearly production would be about 24000T but instead it's going to be about a third of that... that's a considerable climb down and has totally changed the short-medium term outlook.

TGR is still on track imo or at least still well positioned to be one of the beneficiaries of a looming graphite deficit over the next 12-18 months but it will take a period of over-delivery rather than significant under-delivery to really turn sentiment around here.

What we want to see (at least those with a trading position like me) is the Argo share price stabilise whilst BTC oscillates in a range. Then, once BTC suddenly breaks out Argo catches fire again and easily does 25%+ in the blink of an eye.

More than happy to see 15p hold for a good number of trading days before the next rally.

EBITDA *is* relevant for high growth companies but less so for goldies that require large yearly sustaining capex just to stand still.

For the likes of THX yes probably best to focus on the actual cash generation which is very positive, as was today’s update. Could we’ll see the share price catch a head of steam over the coming weeks.

'Miner decoupling definitely our wildcard now but underlying signals seem as bullish as ever. Talk of Blackrock swallowing up 11.5k btc in 2 days, seems latest plot twist is Larry Fink becoming the new Michael Saylor. '

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Bitcoin needs a new Michael Saylor as the original one is dumping his shares in MSTR: https://cointelegraph.com/news/michael-saylor-sells-microstrategy-shares-purchase-bitcoin

He can claim that it's for buying more bitcoin but it remains to be seen... so far all it's done is unnerve MSTR holders and has contributed to the capitulation in MSTR share price over the past week or so.

Even if he does end up buying BTC with some of the proceeds it won't be anything close to the negative side-effects of the $3B valuation wiped off MSTR market cap.