Member Info for HarChris

It's very simple, you were the only one on here making a big deal of the share price reverting back to 63p for a few days and tried to create a narrative that it was insightful as to where the share price was heading (ie maybe nowhere). Now you're saying if we were already there with the tech would it be 66p? Will you say the same at 70p? At 90p? Because you said the same at 29p and you're still doing it 130% higher.

Ever wondered if what it actually tells us is that it takes time to shake off all the past management errors and rebuild trust and actually a rerate IS happening... first gradually and then perhaps all in one fell swoop?

I think the statement just means that no ore from Goantagab has been processed by Andrada, we knew that anyway because the jig plant at Uis hasn’t been commissioned. We already heard that blasting activity has gone on at Goantagab but it sounds like that’s the extent of it for now ie no ore trucked to Uis.

It could be neatly summed up as you supposedly concerned by the immediate market reaction to placing and how it supposedly strongly implied the market doesn’t expect a deal within the funding timeframe.

My take was it simply told us the fact there was a placing at 63p and that’s where the share price headed for a couple of days. It told us nothing about the chance of a deal within the next eight months. And that, like with the previous two subscriptions, we’ll know what the market thinks after a few weeks ie once the dust has settled on the placing news.

Wyn you spent all of us last week implying that the share price retracing to 63p placing price was ominous. It was obviously BS and you’ll see that as the weeks progress.

If we see that JORC upgrade to 350k+ with confident commentary of a later expansion to 1m oz, expect the £500k to convert above 1p as well as the 130m warrants executed at 1p. Will mean a future ~800m share count (+ £1.3m more cash for warrant execution) to go into debt funding talks with in 2026.

Even a 4p share price is just £32m mcap against a high grade low cost project likely to generate around $1.3B revenue (split 50/50). Loads of upside to come I think.

You’re not talking to me are you? I’ve communicated with Paulo so yes, I very much know his name.

Solid RNS today, highlights the undervaluation that debt-free Jangada that’s fully funded for this drilling campaign remains at a mere ~£5m valuation.

Strong updates in the coming months and progression to taking a majority stake in the gold project and we should see acknowledgement from the market.

Harrogate, I wouldn’t worry week to week and instead recognise that there is now a hurdle-free path to significant share price appreciation. With funding sorted for at least eight months and no downwards pressure from Heights we can expect good news to build upon good news and naturally take the share price higher each time. Be it dual payload news, SGC 1b data, ODD, TNBC data, news re 6103, commercial deals… and if it’s the latter that’ll boost the cash runway by many months depending on the upfront cash payment.

Should finally see progress reflected in the share price.

Perhaps they cancel each other out and the share price would be about where it is now?

Well thankfully bitcoin is looking perky so I imagine the 50s will be in the rear view mirror. Rate cuts look likely which may well send BTC to new all time highs and hopefully a return of sentiment here.

All the talk on here??? Most of us are only assuming that Ava6000 for SGC beats the standard of care because, well, it’s already taken out the PFS in the heterogenously dosed, heavily pretreated P1a.

That’s all we need to see approval and to easily raise the funds to see the next drugs in the pipeline, which management have reason to believe will be far superior, progress through the clinic. STS and TNBC would be a (major) bonus.

Your total obsession with being ‘right’ about STS or to prove your intuition throughout the process leads to you clogging up this bb day after day. Give it a rest.

' In certain accelerated development pathways (e.g., for rare diseases or oncology), Phase 1a trials may be designed to include patients with the target condition, allowing for early efficacy signals (e.g tumour shrinkage). Regulatory agencies like the FDA may accept such data as part of accelerated approval processes, but it’s not considered definitive proof.'

It's as good as it could be at this stage in what is the first drug of an ever increasingly sophisticated pipeline... Hopefully we'll be saying the same after 1b results, especially in TNBC where Dox actually is effective.

Thorn that's one of your worst takes. Is it even possible to prove statistical significance in a p1a trial where you have at most a handful of patients treating any indication at a specific dose?

We find out soon with the p1b results that are powered and targeted at patients that are expected to respond to AVA6000, for now we have no unequivocal proof but the CEO will have access to data we don't and she is banging the drum and speaking with ever more confidence as the narrative builds towards these p1b results, so the signs are great.

I must admit I think it’s very poor.

In the 17th June RNS announcing the Goantagab agreement a few sentences mentioned the ‘sensitivity’ and ‘tension’ around the intersection of mining, tourism and conservation but it also said this:

‘Andrada is engaging constructively with all stakeholders and the Directors are optimistic that an appropriate resolution will be reached soon. This is not anticipated to impact the supply of ore from the mining claims in the short term and further updates will be provided as appropriate’

Over four months have passed and there have been no further updates to keep us informed so all we have, officially, is this text in June which makes it out to be more or a less a shoe-in that an amicable agreement will happen… reports since suggest otherwise and yet nothing from the company.

I repeat, I consider this lack of communication to be very poor.

It really depends on what they can get for Pitombeiras at this time with vanadium prices still so depressed. If it’s a mere tiny fraction of the project NPV then it’s best to look elsewhere for funding I think.

The board owning a big percentage of the company is always better than the opposite. That is a fact.

Does it guarantee success? Obviously not. And it hasn't here in the past certainly. And it doesn't prevent further dilution either ( but what other choice was there but to do a placing in June?).

Past failures have led to long term holders being down a lot and Brian hasn't covered himself in glory. But a future turnaround rests on the new CEO who has a great track record and knows this part of Brazil inside out.

Certainly adds to the investment case. Even after dilution from the recent placing just McMaster & Azevedo alone own over 35% of the company.

Thank you LDA, we are doing all we can to meet your shareholder demands and we thank you for your continual support and patience. All the best. Christina and the team.

That's how I interpret it Tommy, yeah.

Like you say the initial capex amount will be a factor as well as establishing a credible implementable funding strategy. All going to plan I see ~4p as a reasonable medium term target and eventually to that NPV.

I think many investors fail to understand how hard it is for a cash hungry small cap to recover once its valuation has collapsed.

Upon listing graphite was a real buzzword and Shishir, being the great salesman that he is, brought a lot of eyes to this company. With the share price as high as £1.60 in the first year of trading and averaging ~60p for a few years after that there was so much potential to grow enormously... but now? With the share price in the single digit pennies and a ton of legacy issues to deal with? It's a nightmare and extremely challenging... possibly beyond the capabilities of this new management team.

The whole business plan here was one of quick to market, quick to revenue and therefore profit and scalable growth that would leverage the rising graphite price is forecasts were to be proved accurate. Now they need to issue 100m shares just to raise £3.75m and with graphite prices remaining so depressed and disappointing compared with previous forecasts it's a truly monumental task to see a full scale turnaround here unfortunately.

Way too many factors to accurately conclude a NPV at this stage but £60m from 100k ounces does seem a good guess yeah. And it appears a given that the resource will be expanded 75% (to 350k ounces) at a minimum so expect numbers when we get that PEA to be even healthier.

With the vanadium project arguably justifying much of the market cap as it is it should be possible for the experienced management team to pull off funding in 2026 at a valuation much higher than where we are now.