Member Info for HarChris

So when comparing Q2 with Q3 it's worth also remembering that Argo had a placing in between that raised £5.7m / ~$7.5m.

End of June - cash $9.1m + 46 BTC, debt - $70m

End of Sept - cash $8m + 32 BTC, debt - $75m

There's a 12% increase in hash rate (capacity) which isn't keeping up with difficulty. And the discussion on growth ends there and instead we get this:

'The Company is involved in advanced discussions to sell certain non-core assets, and it continues to evaluate options for further reducing debt'

Done very well to even stay afloat during this period but it continues to be a slow crawl to the halving/whenever the next big chunk of this debt matures.

Argo's lowly share price despite the strong move in BTC can be explained by recognising that the share price was very close to capitulation a month ago, with a big move down from 7.5p looking rather likely, possibly right down to near the 52 week lows.

This move in BTC has certainly prevented that capitulation but still we see a failure to get back to and stay above the most recent placing price of 10p.

Yes but there is more than enough evidence that you were doing the exact same thing despite having no idea of what you were talking about. It appears you were quite comfortable to baselessly ramp in order to encourage others to buy so there is likely others that blame you for their losses in just the same way you blame a few of the posters you've name-checked below.

This recent rise in BTC does give Argo a glimmer of hope, no doubt about that, but it's still just a glimmer. More than anything it'll likely just provide an opportunity for traders to buy around this level and at some point sell for 30 percent higher in the coming months.

BTC has to see serious sustained upward momentum, probably all the way to new all time highs and well beyond, if there's to be any chance of a medium term turnaround here.

I guess it's because for me there's a sort of logic at play that I don't think is following through your end.

You've been rather concerned about cash infinitum as far as i'm aware but particularly since the full year accounts were released on the 3rd August revealing sub £300k cash as of end of March. You said they were burning cash like mad and continually insinuated that a cash raise was going to be needed in the near future, comments that were logical and reasonable at the time.

Months have passed and that cash raise hasn't come. We're now into the third quarter and past the hairiest period as far as we can tell and there's also tentative signs that flake prices Ex China are rising, as well as sound reasons for why that might happen. That combination reduces the likelihood of emergency cash being needed for general operational purposes significantly, not completely but significantly, something that following your logic would have alleived your biggest concern and have you speaking more positively. Yet your tone barely changes one iota.

That's the only reason my responses to you might seem a bit irritable, not because you are voicing bearishness or doubts but that it all seems a tad disingenuous to me. I agree though, good to have all opinions on here and be comfortable thrashing it out and tbh your last post was actually acknowledging the potentially sunnier picture which makes this post a tiny bit less valid now! (besides that quite obvious mistruth re signing off of accounts).

Sold a handful so that he's below the threshold and can sell more freely going forward without notification? Or does every trade have to be reported because he's closely linked to the BODs as ceo of PLT?

I agree with your numbers more or less, I myself would go with $25m capex/exploration/sustaining capital per year and throw in another ~$5m for interest, debt repayments etc but still come out with $40m cash at $1900. Possibly a doubling of the dividend to .4p / ~5m. And let's be honest right now $1900/oz average sales price in the years ahead seems conservative...

The share price simply won't stay here all things remaining positive with the POG and on the internal operations front.

actually positivity is starting to return on here it's just that the negative users who are in the minority post numerous times a day.

the yg acquisition was excellent for many concrete reasons but in addition to that it's a major boost to sentiment because it means we now theoretically get double the news releases as we did before and in reality likely far more than double. rns-sp**** periods are always going to lead to share price drift on aim but we might now be at the end of that which will do the sp here no harm at all.

certainly a corner starting to turn now and i imagine we'll start to see some anticipation in the build up to the first trading update post-acquisition due january. would also be a good idea to request another investor meet company session post trading update, i think that can be done on the website.

But none of your complaints are in anyway unique to DKL whatsoever. The BOD could have received full salaries in cash or split it between that and options. If the former had happened they'd have received far more remuneration by now and would have limited skin in the game. You can stretch the definition to whatever you want but the fact remains that by taking newly issued shares rather than raid the limited company coffers (as most executives do) they are now fully aligned with the success or not of the company. The difference between this failing as investment or reaching say 10p is tens of millions of pounds to the BOD - that is motivation. I'm not sure they have done that well in relation to the positions they hold, they certainly aren't being specifically rewarded for failure however as salary isn't directly performance linked they obviously still get paid for running the company. Investors fund fat cat salaries first and foremost, that's a simply fact.

As for your other points i'm sure they are valid.

If you were a prospective buyer and are confident of POG strength over the next few years what with the world being in disarray then it would make sense to attempt a lowball takeover now before sentiment returns with a bang.

15p followed by 20p after the former is rejected would stand a chance of being accepted as long as sentiment was still down across the space at the time of the vote.

He had a successful career prior to Novacyt, particularly at Amryt. Do you think he should be blacklisted from all corporate roles because of his failure as a ceo here? Be forced to see out his working life stacking shelves at Tesco?

This position makes sense, a step back into a role he's obviously more suited to.

Options are often an alternative to salary/cash payouts rather than in addition to.

And yes they all bought in at that placing at 5p, so not exactly seeing good returns on that money. There's no argument to say that they aren't aligned with shareholders, they are. Do they still make a living if they are unsuccessful, yes, it's their job and I assume you have one as well. where you get paid a salary that isn't totally linked to performance... They earn from their job either way and gain/lose on their shares based on success or not - they have a huge amount of skin in the game so they are as incentivised as they can be, the poor performance so far won't be for lack of trying.

As for PO prices, at least they've broken through the 3800 barrier after a few weeks of trying.

They are directors of a large mining business, of course they do well. Did you expect them to be on minimum wage?

They've taken tons of shares in place of salaries and are major shareholders so they aren't doing half as well as they would if they can turn the ship around and see a meaningful recovery in the share price - so their interests are certainly still aligned.

What clarity do you want re the cash position? You want to see in black and white that it's not that high? Because it's not, it will be sub $1m, they have been operating on a shoestring budget and yet with the far lower than expected production in H1 somehow managed to keep operating and ramping up without having to go back to the market to raise.

It feels to me that you just want to hammer home the point time and time again that liquidity is low. It is. That's why the market cap is £22m and not £88m despite being one of only a couple of graphite producers outside of China, and the only one showing signs that group profitability can be reached without 'graphite doing a lithium' ... But fortunately managing resources has been the big USP of TGR for some time so to many of us despite the low cash position this still presents an opportunity.

It's now that the healthy margins will will finally start to generate cash as long as Q3 continues as positively as we were informed it began, but the cash won't stay building up in the coffers. This is a company with ambitious growth plans, cash will come in and go towards those PCUs and pushing towards 30ktpa production, cash from a debt package will go straight to developing assets in both Moz and Mad etc

What matters is that positive EBITDA is reached in the back end of this year and funding will be less of an issue from that point forward.

Are the friends you refer to the ten other alter egos that you have on here?

The Wolf of West Bromwich Medical Practice

If you don't understand that outlooks for a miner change when the commodity they mine collapses in price as well as when management misses their targets then that's on you.

If exactly one month ago with BTC just under $28K someone was to tell you that BTC would be at $36.2K and yet CLSK and Riot would be down over the same period and others like Mara would only be up single figures you'd have told them to slow down on the acid...

Really rubbish reaction to what is a rather strong move in BTC.

A bit of homework for you.... do some research, compare large scale lithium ion batteries against Invinity's future Mistral product (see most recent investor meet slideshow for the battery facts) and let us know if it compares favourably or not.

Imo this investment is right on the precipice and will see a sharp move in share price soon, one of two ways. With such a modest cash position and liquidity DKL really can't afford to run out of cash at this time and it's why the SP is as depressed at is is, somewhat pricing in refinancing on what would be unfavourable terms. On the other if (i) CPO prices remain firm or push on from here and (ii) the cashew venture reaches operational cash flow positive during Q4 as is targeted then we should see the SP start to recover.

Hopefully positive operational news for October tomorrow or Monday.