Member Info for HarChris

I had previously worked out all the share issue information and TVR permutations etc but I honestly can't be bothered now. We're talking hundreds and hundreds of millions of additional shares now, maybe close to a billion in total when all is said and done. Will probably take TGR off the watchlist now, good luck to all those that are holding shares through the suspension.

A tale of two companies… one goes down the normal established DFS pathway the other attempts to shortcut and circumnavigate their route to production. The latter reaches production quickly but runs into issue after issue, the other slowly but surely works up the resource and feasibility studies, secures numerous offtake partners and is now on the verge of major debt financing to fund a massive operation.

Lessons to be learnt here.

Exactly that, if I was an investor I would be wanting equity or warrants too but there's plenty of possible scenarios that would see great returns for all parties. I'll remind you of this from a past update:

''‘ As of this report, copper trades at $4.60, gold at $3,719, and silver at $43.30, which, if maintained, will materially improve the cumulative net free cash flow of the project by more than $80 million.’''

At $5.25/lb Cu & $4200 gold the *improvement* in cumulative net free cash is closer to $200m.

There's got to be a mutually beneficial option here or at the very least do an Asiamet and sell the project/company for say £20m or so.

Avacta's the only publicly limited company he's a director of so that could be why.

He seems to make exceptions for Avacta that goes against his normal business approach - for someone with his background we should take that as highly auspicious.

I never ever ignore your posts about a supposed offer in April, it’s weird that you keep saying that. Like the supposed acquirer I bought in substantially around q1 because production was modestly rising and Emma kept repeating the 1000 ounce target message which appeared doable once close to 600 monthly ounces were reached. And with eight months til maturity of the gold loan this appeared to some like me to be a genuine recovery play.

What then happened was production took a turn for the worst and slowly reversed trend and went backwards, the 1000 ounce target essentially scrapped and now instead of eight months to earn enough to pay down (or just reduce) the gold loan there’s three weeks. And likely out of funds for day to day operations with possibly a downing of tools behind the scenes hence the lack of news.

If you say again that I’m ignoring the point about an informal offer being made earlier this year at a much higher share price I’ll know you’re a fraud.

Genuinely wondering why it keeps being said by different posters, was it one statement and now others just mindlessly repeating it?

Volume today for example was less than 700k shares total. Made up of mainly two trades at 0.36p and 0.38p.

No they don’t, NEO is main market which means four months post period end deadline. They have til end of Jan.

Are you sure someone is sweeping up millions of shares a day? The volume chart I’m seeing shows an average of barely 1.5m daily volume over 2-3 weeks and with it a gently slide to this new low around 0.4p. There isn’t the volume for anyone to me accumulating millions…

Very selfish of CC, hopefully we’ll be able to get reception.

In other words unless science stops doing science we're going to see a healthy data set in what is a very difficult to treat disease, especially as we already know about a strong partial response that was shared with us in June. The unknown is just how good it's going to be - whether it's going to be on the end of the spectrum that simply can't be ignored by the market or the other where we'll need to wait for commercial third party confirmation first.

'Eh? She can only impart the results she has in front of her.'

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You don't need to signpost it 9 days before and set up an IMC to discuss those results. If they are disappointing you'd try to bury it a bit and focus on the platform and the pipeline drugs that are coming going forward rather than zeroing in on this particular dataset.

There's no reason why they won't be at least as good as p1a which has smashed the PFS and every reason why they will improve on 1a due to the specificity of patients recruited.

It's two-fold, yes it's to prevent any sell off / loss of momentum as the market would be getting twitchy next week so close to christmas without assurance but it's also to build anticipation and have as many eyes on the update and presentation that follows as possible.

That says there is good news to come.

Reminds me of those complaining about Zeus' commission from the raises and subscriptions this year, as if it wasn't worth it for the £200m increase in market cap.

Of course you’d rather be sat on gold but how much upside is Hamak likely to be seen from $4200/oz? Is it worth issuing many millions of shares to buy gold at such highs???

It’s big deal F3, let’s have as many eyes prepared for it as possible! Some of us need time to engage with the IMC meeting.

That’s a kind interpretation of what happened.

One could easily argue that if it wasn’t for Covid Avacta wouldn’t be in the position they’re in now but that was less Alastair and more the crazy times we were in that brought so much attention and an elevated share price from 2020 right through to 2023. One raise in that time at 120p is not exactly taking advantage of such a situation, of such luck, especially when the share price spent a good while in the mid 200s.

Failing to leverage the high share price and instead doubling down on the diagnostics through the use of the convertible bond was such poor judgement. And to do that with ava6000 data in hand is even more egregious.

I don’t hate on Alastair either but I also won’t look back nostalgically at someone who so almost buried Avacta with his decisions when even the average PI at the time was scratching their head as to the strategy.

There were a whole host of reasons why Avacta traded at a higher share price than it does now including Alastair’s extremely bullish statements such as ‘the holy grail’ but he absolutely failed to leverage that back in early 2024. No way can we say that placing was anything other than a failure of management.

For starters it was utterly counterproductive to state / imply that Avacta was overvalued some months before, saying it was valued higher than comparative peers. And secondly running the cash down to near zero and having no contingency at the back end of 2023 into 2024 left Avacta vulnerable when forced to raise. Certain they could have got a raise away well above £1 in autumn 2023 and then continued with commercial deal making negotiations.

And yet if it wasn’t for that calamity we’d almost certainly still have Alastair in charge instead of the wonderful Christina so every cloud and all that.

Believe it or not I never post for any other reason than that I enjoy sharing my thoughts and debating with others and I guess to see if any challenges to my views make me question if I have the facts right or not.

As for where we are now I do find it fascinating that despite, IMO, the company's future looking very much in doubt the share price is exactly the same as it was three months ago. Obviously there is no mass sell off / the largest holders haven't exited for whatever reason. Certainly going to be interesting to see what the next RNS is in the coming weeks.

Nov 15th...

WSHP price $30, WeCap 3p

Dec 5th

WSHP price $125, WeCap 2p

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At the very least we'll likely look back in the coming weeks and see the above as the two ends of the spectrum.

You’re the one acting extremely childish and juvenile. I’ve shared my coherent position and why I still follow and post. I sold when the target subtly downgraded from 1000 oz to ‘maintaining production levels’ at 300 oz. I was open about buying back if the course corrected and have followed interestedly since and am still interested to see if I’m right in saying GRL are sleepwalking into administration or if I turn out to be totally wrong. We find that out soon.

This quote from many months ago makes me wonder how I could be wrong though, seeing as there’s been no update since. Does an under pressure management team obscure good news?

‘’ I look forward to updating shareholders over the coming weeks and months as we work to build further momentum through the remainder of 2025."