Member Info for HarChris

Tbh Hexam it was more intuition than science, it was becoming obvious imo that the updates and commentary were being used to obscure the gradual descent into insolvency.

I don't quite get why the institutions are coughing up £5m, there is no investment case to be had with such a little raise. This is paying salaries for another year and a final final roll of the dice in the hope for a bitcoin bull market. The bull market didn't come early enough to keep hold of the machines last year, it didn't come early enough to maintain Helios, it now hasn't come early enough for a forced lowball placing...

Well I called that again ha

That's £975k on top of the amount announced yesterday giving gross proceeds of £5.75m. Net? Probably about £4.5m.

I called this Hexam, it just felt like after how quickly funds ran out at the back end of 2022 that they were obscuring the cash burn and that things were much worse than many thought.

My prediction for the retail offer? Share price falls below 10p, stays there and we see barely any take-up. I think they'll struggle to raise a million quid on top of the £4.775m.

You can blame the new management all you want but they had absolutely no option but to do this and this will be the most they would be able to raise at this time. It’s not enough but the best they could do.

Argo are toast and have been for a long while.

'It was enevitble (sic) but such a small amount I don't get the maths.'

Likely it's the most they were able to raise. I'm sure ideally they'd have taken 5 times that but these are difficult times, do you really think there's going to be £22m of investment willing to come in at 10p?

Personally i'm impressed they've managed to get this much away but I agree all it does is buys them a tad longer runway in the hope that bitcoin suddenly pumps to $100k and full blown sentiment returns.

Sorry for those that recently got spiked but this was coming.

Still only keeping the lights on/paying off debt funding, 47.7m shares / £4.77m + a retail offer.

Https://twitter.com/BigBiteNow/status/1680854534267060225

If any of you are interested in real fundamental value then take a look at the gold play that's become my largest investment.

Shanta Gold (SHG) now has its second gold mine online and within budget making them a 100K Oz operation with OPEX expected to be ~$950/Oz going forward and AISC of ~$1300/Oz or less. Gold is now making a move toward $2000/Oz and has averaged ~$1950/Oz for the year to date.

That means EBITDA for the year is pushing on for $70m with NET profit around $30m. Very modest debt to be eliminated by 2024 due to such large cash production and still trade well below Book Value at just £101m/$132m.

Gold still isn't fashionable (pardon the pun) but Shanta is now incredibly low risk at this valuation for a gold mining stock on AIM and if gold pushes on further we could see as high as 25p a share later this year with minimal downside risk.

Lots of great posts by this prominent investor on twitter: https://twitter.com/BigBiteNow/status/1675822309125365760

I'm sure what Alan means is that the share price has trickled up since the acquisition news and held its modest gains which is something we've not seen here in years. Previously we might have seen a huge reaction, even 100%+ rise but it's always come right back down to where it started and lower.

There is no argument to be had here, the response to the RNS was positive. Almost every rns for as long as I can think of has led to a fall in the share price or a rise that has fully retraced but this time around we're talking ~2.95p pre RNS and 3.35p one trading day later which is a 10-15% rise.

And in answer to this week or next - this week. The 20th July has previously been given.

Fortunately the share of vanadium going into High Strength Low Alloy Steel (HSLA) is falling by the year as VRFBs in particular, but also more specialist chemicals and aeronautics, continue to take market share - globally demand from steel fell from 89% in 2021 to 85% in 2022 with a heavier fall in China.

Obviously still the largest sector by far but the lower that goes the less reliant the vanadium market is on a booming steel market.

Taking a good hard look at BSFA at the mo and what i'm most interested in is the 'higher production yields' - is there any detailed info out there on exactly how City-Mix compares with meat agriculture on this metric?

Agreed so here’s a brilliant seventeen part thread by BigBiteNow that is neither Armstrong related nor net debt centric:

https://twitter.com/bigbitenow/status/1680854534267060225?s=46&t=L7k3nxfxN_9xwjjIedxUrA

Weekend posts:

Zaskar - 'On the contrary, perhaps Monday will see a decidedly negative start?'

SquirtyFlower - ' It's not a pretty story and delusional to pretend it is anything else. 4pm Friday RNS are invariably bad news and this is the case here.'

Although to be fair SF did later say 'It's my view and, as you've seen, I get it wrong quite a lot and I'll be delighted to do so again in this case!' - perhaps just another to add to the list?

I'd usually agree but I think in this instance there's far too much going on behind the scenes for this not to be considered a closed period - Q2 due very soon, key financing package being finalised, MUST etc

If he has £50k+ sitting free in cash and he's able to then I'm sure he'll happily invest it in BMN at sub 4p.

So when an RNS sends the share price south it means the market didn’t like it but when it rises the market has it wrong or is being misled?! Pull the other one.

Anyone claiming to know exactly how the negotiations went down are talking BS, none of us do. What we can say for sure from the wording is that Craig wants the market to know that he thinks Bushveld is well undervalued and so will navigate the path forward with that in mind with no intention to dilute shareholders at this lowly level. That in itself is a big positive.

@codejunkie - plus the hilarious logic that BMN having started the year with $11m and having seen far higher V price from Jan to May currently don't have $1m to pay off in one go but somehow will later in the year generate that $1m + interest.

SF what a load of tosh. And what's worse you made it sound like that was the 100% definitive reason rather than just your opinion.

Hear hear - a brilliant poster keeping this bb informed. Thank you Andii.