Member Info for HarChris

Carefully worded, I'm sure there was technically enough cash in the bank to get Raglan to production if it were to go smoothly over the next 4 - 6 weeks but obviously not a penny as a safety net.

Expected some sort of funding round but thought it would be much smaller, £1.5m is very aggressive when they are going to have cash from Raglan alongside.

Do I love it? No. But could it turn out to be a smart strategy to really push BM and Lolworth this year given the gold climate? Certainly.

I won’t be for now and I really did plan to stop posting on here but ended up posting multiple times today - sorry about that, will try my best from now to pi*s off and leave the bb to holders! GL to you :)

This is true but now we’re just four months away from the end of that hedge, who else expects the tin price to stay up here in the mid 40s now?

The jig plant will almost certainly be commissioned by then so Goantagab or not all we need is tin to hold at this level and we’re a few months away from really meaningful profits.

It’s an exciting time to be an ATM holder.

To hammer home the point production broken down into quarters would look something like this:

Q1 - 1200 ounces

Q2 - 900 ounces

Q3 - 700 ounces

Q4 - 110 ounces perhaps?

Something went seriously wrong in Q4 which surely can’t be just put down to the issues shared in the update. Did they run out of cash and therefore downed tools without informing the market perhaps? Were they running a skeleton team until further capital is raised?

Unless the numbers previously given were went today’s full year figure (2912 ounces) doesn’t square with the previous figures given (1870 after early June pour, ‘2917 to the end of August’ )

“It's not 'nothing' you can add the dots from the previous updates to the yearly totals released today. ”

Revenue was $6.7m in H1, revenue was $3.3m in H2.

Gold price averaged ~ $2950/oz in H1, averaged ~$3800/oz in H2.

That shows production fell off a cliff in H2 and probably ever increasingly so with Q4 barely generating anything. To me it reads like production halted at some point in Q4.

Would be nice if commentary had directly addressed this to know if Q1 is going to be a continuation of that decline or not.

True although on two fronts we are nearing potential 'rerating news' territory.

(i) Positive drilling from Lithium Ridge could quickly escalate to an offer from SQM

(ii) High Court news with mining approved at Goan would see profits balloon multiples almost overnight

Not expecting either this week but as me move through Q1 it will lead to many taking a stake I think.

Now at a 26 month high and without doubt high enough to make allocating cash towards the new circuit at Uis worthwhile.

Transformational for ATM if average lithium price ends up being around current level.

Booboo, I'm sorry to pull you up on things but that claim simply is false, 2025 wasn't a record gold production year, it wasn't close.

''During the year under review (2022), GoldStone produced and sold 5,155 troy ounces of gold from Homase''

It's been years since production seeing one step forward two steps back.

It's growing in terms of costs & AISC, it's growing in terms of debt!

Booboo I do agree with you otherwise, there is still some life in this old dog yet. AIMSL having not pulled the plug and the new directors must mean, at least for now, AIMSL sees continuation as a listed company as its best chance of recouping its debt and seeing a return. Emma goes next and then they attempt to pull off a raise to get production going again and after that they'll have another bite at the cherry.

Still a chance with this gold backdrop.

I'm heavy in ECR and the comparison is stark.

On paper sure it's far smaller but it has zero debt, it's going to be operating at massive margins (sub $1000/oz AISC equiv), the first project funds the next bigger alluvial project. It has numerous projects one in which has a JV with the partner covering costs, it's Lolworth project is the flagship long term, it's in the safest jurisdiction being in Australia and management continues to underpromise and overdeliver.

Chalk and cheese despite Goldstone's resource obviously having huge potential if managed properly in the past.

And as a reminder GRL produced 1850 troy ounces by early June, ie just over 5 months. That means the final seven months produced just over 1000 ounces, mainly coming earlier with a big tailing off from October onwards.

Is this a joke? Full year gold mined of 2912 troy ounces vs 2917 ounces as of August...

There's loads of words to hide that they overegged that non audited August figure in the interims and have essentially downed tools through the last quarter of the year.

Emma has never even come within 50% of a target but even if she hits 2026 target of 4000 ounces by some miracle it'll still only just begin to turn things around. What a mess.

Absolutely nobody can accuse this of being the ECR of old, they are moving at speed now and beating timelines time and again. Full steam ahead!

‘ We almost universally talk about and raise points concerning AVCT.’

I mean that’s just not true is it?! Very little of what any of you post is directly about Avacta or contributing to Avacta investment case - it’s much more about the general psychology of trading, often it’s about how much better you are at trading than everyone else, you have Thorn telling posters how lucky they got, repeating the same old points from years ago, there’s a decent percentage about how badly abused you are on here.

Directly about Avacta? Between the three of you maybe 10%?

SQM is a $20B company, they don’t f about with small projects… if they end up acquiring Lithium Ridge there’s no doubt it’ll fetch far more than ATMs current mcap. Even more so if the lithium price continues to strengthen as drilling results begin being released.

I'm sure any issuance will be far lower than £500k because frankly there's no need to dilute so heavily at this stage.

If offered it take a small subscription from a handful of investors at .3p, push through to production and cash flows and then further injections can come from the management options at .5p and .75p

Whilst it's never possible to be certain of production figures for a turnkey project like Raglan that hasn't got an enormous wealth of studies behind it we are in the very fortunate position where there's so much margin for error that we should all be feeling quite safe about the prospects of profitability. I read recently that the average AISC equivalent per ounce for alluvial gold producers in 2025 was $1050, less than one quarter the current gold price. And we know using fairly conservative figures that Raglan could generate $100k a week revenue against the quoted figure of $2k daily costs so again even if that turns out to be a huge overestimate you could halve it and halve it again and still come out with profit.

Risk/reward is rather juicy at stuck a low mcap taking into account Raglan, BM, Lolworth, Creswick JV, large tax losses + a digital bitcoin strategy to deplot when sentiment returns there.

500k shares?! I swear when we chatted around July time when you bought back in you said you had bought half your potential allocation at something like 30k shares with the potential to double up with the right management moves? Maybe i'm dreaming that.

Huge holding! Just over a fifth of that for me and it's my biggest investment by a fair bit.

If BTC now goes on to new ATH this quarter and Webley times some of these updates alongside then we will certainly have seen the bottom at 30p and could swiftly see a sharp rerate here.

All very possible in a short space of time.

If management reached out to a handful of HNW individuals this week and asked them to dip into their pockets at 0.3p a share to guarantee against any shortfall between now and consistent monthly cash flows hitting the accounts I reckon there’d be many jumping at that offer considering what it would set up.

I expect that at a minimum with what’s to come but i continue to think debt is a possibility this time around.