Member Info for HarChris

Isn't the answer obvious? Is it not too much of a coincidence that the £2m CLN wasn't drawn down and GMI happened to put up the exact same amount? Clearly the CLN from AUO isn't available, Jason stepped in via his vehicle to complete the Kabwe transaction and then an opportunistic raise occurred alongside to fund operations.

As it hasn't been officially pulled perhaps the hope is that Quinton gets his finances in check and then it will be possible to draw down that £2m, that would be absolutely ideal.

That all may be true besides the wait for cash flow positivity, that’s quite clearly happening now.

The most recent accounts showed a £0.9m operational loss and a net loss of £3m from £12.2m revs - now runrate is ~ £17m revs per half year so significant operational profit and net profit is happening at the group level.

Thats only going to grow as we see increased scale and with it the royalty removed assuming this tin price is here to stay due to favourable long term supply/demand dynamics.

Of course but it’s the job of management to convince investors to take a position at a sub £4m market cap backed against a multibillion dollar resource.

Achieve that successfully alongside operational milestones this year and future cash injections will be achieved at multiples of today’s 3.5p.

Not sure what the confusion is? GMI provided all of the money needed via a loan to complete the Kabwe acquisition and that’s now over the line. SKA also raised £1m to fund operational activities for this year.

SKA is now in the position we were all hoping to see over the past year or so and yet sits at such a low - big opportunity imo

They are great comparators for Lithium Ridge.

What makes ATM stand out is that their two exciting projects Lithium Ridge and Brandberg West are the icing on the cake, the cake itself Uis is (now) already profitable and capable to double in output without additional funding. And if access to high grade ore is secured more than trebled. And there’s mountains of lithium there too.

The goal here is to make the market cap look pitiful from Uis alone, then it’s all upside from whatever comes from BW and LR.

The polymetallic factor will likely mean SQM are able to run a highly profitable operation even if lithium were to sink as low as it did in 2025… let alone the three times higher price we are seeing today.

And yet the capital raise has not affected the share price so why does it matter? Brilliant to see buy price still well above 1.75p, retail offer closes shortly and then fully funded for all this years more innovative plans to start bearing fruit. Still expecting a good year here.

A shambles and too risky at almost any price now, what a mess against such a lucrative asset.

The best of starts to what should be a highly news-rich couple of months.

Well if I was Hawk I’d extend it early but be asking management to try raise some cash if it leads to a strong positive reaction, that way Hawk can be even more sure of seeing their debt repaid in full if WeCap already have a potion of it in cash prior to November.

I think share price simply reflects the decision of many to instead wait on the sidelines for now but still think we’ll see a random bounce off the floor at least very soon.

A really crucial point with Andrada to remind yourself of is its mine life, Uis can operate at the expanded scale coming next year for 100+ years , it’s essentially indefinite. Efficiency improvements albeit slower than we’d like have been happening and so once the operation has brought costs down further we can be confident of ongoing profits for as long as all of us are alive and our grandchildren too!

Andrada has bags of potential from this level.

If the jig isn’t commissioned and fully operative this CY quarter then there’s more of a problem than we’ve been led to believe ie we very much should see that production uplift near term.

I wouldn’t worry, maybe warrant holders banking a healthy 60% profit.

It looks like this resource will be upgraded, there’s no world in which half of a $300k+ open pit gold project comes out at 1.5p a share for Jangada.

‘ Yes but the problem is that ATM are at some stage going to make a profit but when? ’

________

How about now? They are certainly profitable at the group level today although tin prices need to stay in the $40s to ensure that longer term without operational improvement.

The jig plant and ore sorters will mean large profits down into the 30s too.

This is a world away from the cash guzzling Andrada of old.

Not fully honest there - that loan is fronted half by Martin and the other half by two others, so the interest pertains to them too.

He's also increasing his stake in the company (as part of the connected party) further by investing £370k of the subscription

575m total share count feels a more realistic figure to be working with when forecasting future takeover share price so £3B would be more like £5.25 a share.

This feels like halflifegate MK II

A feeling it might go a bit lower first? They can accumulate from a lower base and create an even bigger eventual squeeze, which will happen.

It’s full of tin too, how about Tingsten West?

Almost works!

Yeah. Precisely predicting timings is a mugs game but within the next six months i'm sure we'll have the jig operating at full capacity, most if not all the assay results from the Lithium Ridge drilling campaign, some initial results from Brandberg West exploration, some progress made towards integrating the lithium circuit into Uis + two operational updates that highlight the shift to cash flow profitability. And also some sort of decision either way re the court decision on Goantagab and access to high grade ore.

A busy six months and probably consistent news all the way through.