Member Info for HarChris

Mr Market already knew, hence the retrace to 25p. Can’t see there being much further downside from there.

Just the $520m of capex to raise then!

If bitcoin continues to steadily rise back up into tomorrow’s open ($108.5k low back to $113.5k now) i’d actually expect that momentum to bring buyers in here, rather than sellers.

Is Shishir involved in the coup?

Https://www.energyconnects.com/news/renewables/2025/october/china-s-new-weapon-in-us-trade-talks-batteries/

Goantagab is absolutely crucial to this investment case over the short-medium term. Initially profits will be split with Goantagab owner, 20kt/pm of ore going through the jig plant will produce ~2200t contained tin per year (split profit) but in time if tin is still looking healthy they can buy Goantagab MPL out for just $15m and who knows, potentially get permission to truck a higher amount of ore to Uis and be seeing $200m+ revs at high margins from this particular tin operation alone.

I'm not surprised that AV is quite publicly re this issue, i'm sure ATM are very much involved in the current legal process behind the scenes.

Continue to follow this share but there’s no way out of this debt unless, somehow, DKL are able to make SUBSTANTIAL profit… or enough progress in one of the businesses (either CPO or cashews) and then selling that business to pay down the debt. There’s no signs of that at the moment.

Otherwise it’s continually more equity at such lows.

The sensible amongst us would be delighted if the end result here is a 12X return ($5b mcap) over a reasonable short of period of time.

With enough investment in Avacta now at this price that should be life changing for all of us.

In fighting for survival negotiation talks… the near term debt maturity is exactly double the mcap now.

‘Crikey safebreaker, all i posted was an alternative to a £20-40b valuation based on a P1 trial that is a year away from completing with as yet no funds to finish it.‘

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SGC phase II/III is scheduled to begin within nine months, that’s quite a different interpretation to yours above.

Well you’re the only one… we’ve been crying out for some third party validation for yonks. We now that in some form or other at least alongside any equity raised.

Multiplier, i'm with you except for the notion that you have to be in now to see good returns. The reason the share price is so low is because majority are on the sidelines waiting to see next move. If we get funding confirmation suddenly the share price will gap up considerably but those on sidelines will probably get a 5p entry without any of the risk. If there's a positive update that fall short of full funding they'll probably get in at 4p with less of the risk. See what I mean?

Personally because of the rise in copper price, the enormous rally in gold & silver, the importance of being US-based, the restructuring of the short-term loan facility (which was a major insolvency risk) that allowed for further cash to also be released alongside the £500k placing at 4p in June. A reminder of what was said in the interims:

' The cash flow model presented in the PFS for the Empire Open-Pit used trailing average pricing for copper, gold and silver and were $4.45/lb copper, $2325/oz gold, and $27.25 silver respectively. As of this report ( ) copper trades at $4.60, gold $3719 and silver $43.30, which is maintained, will materially improve the cumulative net free cash flow of the project by more than $80m.'

Yes copper futures have copper at 'just' $4.84/lb now but even at that price with the increase in gold and silver the *improvement* in net free cash flow is something like $120m on the PFS i.e ~$270m cumulative net free cash flow against mcap of $9m.

I continue to see the risk/reward worth it at 3p/$9m mcap.

That's an odd assumption based on my comment which was simply correcting yours. I'm not seeing any management commentary about producing synthetic graphite or anode material, it's all about production of natural graphite in Madagascar at first and then if the opportunity presents itself in Mozambique too.

I've always said I derisked by selling prior to suspension and would buy them back if things looked up in the future and there was a buying opportunity at a good price. At the moment the sheer number of shares to be issued will be a difficult obstacle to overcome so this requires excellent execution (so far so bad but it's early days) and time.

‘ This suddenly makes the handful of companies that are developing anode material and synthetic graphite projects ex-China vital for the future development of an ex-China battery industry.’

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You mean like BRES & others? Tirupati has long given up on its plans to be part of the downstream battery supply chain, they are looking like a modest natural graphite producer at best.

If you can make one heap of all your winnings.

And risk it one turn of pitch and toss

And lose and start again at your beginnings

And never breathe a word about your loss.

Is this about PXC?!

Yeah we're all in agreement that 500-600p when NAV was actually about 30p back then was insane. We just differ in what we think will happen in the future. And I think focusing so much on the detail (ie obsessing over the exact NAV) in a share like this won't make you money.

I've followed many hype sectors over many years and they almost always have a second run after an initial crazy cycle. The second run is never as mad as the first but usually still provides significant returns and that's why buying SWC even close to NAV consider it once trading at many, many multiples is, IMO, a good strategy.

Be fun to discuss this over the coming months. I've only started accumulating recently and have an average of 94p.

Gold $4k, copper over $5/lb, NPV multiplying and yet share price back below 3p. Surely this board will be able to sell this project?!

How is this anything other than fantastic exposure for Avacta and its FAP approach? And at a £280m mcap the last thing any current shareholder should be worried about is competition in a hundred billion dollar market.

You also have to accept that the types of people throwing thousands at SWC after a 1000% move are not the types to buy an ETF and be happy with their small incremental returns.

That might be why you bought it but truth is most bought it because they saw the gains made by Strategy and were aware that SWC were the UK equivalent and first mover. And when share gets moving it’s worth the risk to jump in and see where it ends up.

People like to rationalise the gigantic share price moves but it’s merely an attempt to find some logic in the illogical. Shares like SWC multibag not because of any of the reasons stated but simply because they get caught up in bitcoin hype and right time right place leads to crazy volume and FOMO