Member Info for HarChris

Yeah true re shares not being admitted yet but the valuation given by the OP was considerably wrong either way.

Not quite that low - 1,558,211,859 shares x 2.35p = £36.6m market cap.

It's great to see a company state something and then immediately follow through on it. This is a very smart and creative way of gaining the much needed short term financing without the far more drawn out (+ more expensive) process of dealing with third party lendors.

Very happy.

Captain Jack, imo the company have now done enough to sufficiently reduce the uncertainty and therefore volatility following first, the suspension and then, the Q1 results. I suspect we’ll now tread water for a little bit before anticipation grows again in a few weeks time/September for what comes next.

Don’t read too much into the SP action, this will start moving when you least expect it.

There's no getting away from how good the margins are at TGR - going to blow the doors off the competition once they properly scale.

Financing is coming Gallmat don't worry... just not in the form of equity.

A reasonably balanced post but in response to one of the points

3. Was about 32% of capacity but yes disappointing. Not sure how you can say no reason was given though. What about this? 'Growth at a more gradual pace than targeted impacted by cash limitations due to:

o Considerable capital used to build capacity, undertake weather mitigation work, complete the acquisition of Suni Resources, and build inventory of spares and consumables for the expanded operations, more so as larger corporate buyers need to be provided 60 to 90 days payment period from shipment date.

o Overdue VAT refund of >GBP 1 million as at end of FY23 from the Tax Department in Madagascar (received >GBP 1 million VAT refund for the previous periods April 2022 to December 2022).

● In discussions with possible sources for post-sale credit financing and in negotiations with certain customers for prepayments.

● Remains engaged to ramp up production and optimise capacity utilisation to achieve consistent operating cash generation at corporate level.

It was essentially a cash flow issue at heart which coincided with low graphite prices meaning ramp up needed to be more gradual. Shishir has seen acknowledged the importance of setting more achievable and realistic targets and now we're looking at ~3750t for Q2 and 5625t for Q3, more or less where we hoped to be by now.

6. We've already been told that will be the case now (focus on reaching 80% of the 30k capacity before expanding capacity). Hence modest debt financing and definitely no equity raise for the foreseeable.

No doubt about it the miss doesn’t look great but this was a very ambitious target and doesn’t change the investment case, it just means that timelines have been pushed back a quarter or two.

Shishir has acknowledged the importance of setting realistic targets going forward and has revised the next few quarters down slightly (but still showing significant growth).

The question isn’t just ‘could another company replicate what TGR has achieved for £30m?’ it’s could they reach this stage with virtually zero debt to their name?

Realistically for another entity to mirror what TGR has done so far would require the ability to raise a sum far in excess of £30m + a considerable amount of time. Especially when you factor in the Mozambique assets.

Call it what you want the SP will do multiples from here with enough momentum from M&A over the next six months, modest improvements in organically derived revenue and the much awaited DHSC dispute going in our favour (which is what those invested believe) whilst you sit there waiting for your 10p entry.

Our FTSE 100 stands about 8% up in total since 1999 peak and yet even if we really believe inflation to be circa 2.5% p.a. over the same period........in real terms the FTSE100 is down some 50% or more........and we're meant to be in an "everything bubble"

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Are you just going to ignore dividends? It's a completely different story when you factor that in.

I can imagine you'd be getting calls at 4am telling you not to miss the opportunity of a lifetime on the Australian Stock Exchange as he's just noticed the company he's been following for a while is 99% down and due a 1000% rise back up.

Well I'm here for the long term and am quite willing to suck up the potential 10% downside short term for the greater rewards that will likely come with time.

For me holding at this point is an easy decision but each to our own.

You seem to have convinced yourself Noel that this is going down so I'm surprised you're dithering so over whether to sell or not. My advice? Stick to your gut and do what's best for you.

One key factor you always fail to mention is that Riot and Mara are flush with cash and therefore don't need to continually issue shares to retain their HODL or for expansion.

Is it dropping or is it merely flat? Certainly flat over the past week, down over two weeks and well up over four weeks.

Completely agree - when either debt financing is announced or we see upwards movement in graphite flake prices then the share price will start heading north. Either/both shouldn't be too far away.

Here's another takeover offer on AIM from a few weeks ago https://www.lse.co.uk/rns/NCYT/recommended-cash-offer-for-yourgene-health-plc-2l8pm6wa62mchr3.html

· The Acquisition Price represents a premium of approximately:

'- 167.7 per cent. to the Closing Price of 0.195 pence per Yourgene Share on 30 June 2023 (being the last Business Day prior to the date of this Announcement);

- 111.3 per cent. to the Volume Weighted Average Price per Yourgene Share during the three-month period ended 30 June 2023 (being the last Business Day prior to the date of this Announcement;

- 57.2 per cent. to the Volume Weighted Average Price per Yourgene Share during the six-month period ended 30 June 2023 (being the last Business Day prior to the date of this Announcement); and

- 74.0 per cent. to the December 2022 placing price of 0.30 pence per Yourgene Share.'

Anyway you're assuming the SP is 10p when an offer lands, I think more likely they'd be rumours first which send the share price towards 15p before possibly a 20p offer landing.

Sure smithy.

1) Oxford Nanopore - reached a settled last year and the government paid out £50m

2) Abingdon (ABDX) - reached a settlement with the DHSC and the outstanding debt of £8.9m was received.

And another company ODX included this in their results the other day:

'The Group remains in an ongoing dispute with the Department of Health and Social Care (DHSC) regarding the potential repayment of a pre-production payment of £2.5 million under a contract to manufacture COVID-19 lateral flow tests and has intimated a substantial counterclaim made in favour of the Company. A formal mediation meeting took place in late April 2023, and both parties are now reflecting on their respective positions. The Board remain confident that the Company is in a strong position and that the pre-production payment will not need to be repaid.'

I've yet to see the government/DHSC come out on top with any of these diagnostics companies and from the outside NCYT has the strongest claim of all (their products were actually used and many other tests have been approved since).

Seconded, great helpful informative post pacifico.

As for a TO the question is at what price? At 100k Oz, a cheap route to ~130k Oz, net debt flipping to net cash and WKs incredible grades we’d surely need to see offers close to 20p for them to even be considered?