Member Info for HarChris

Raising cash on this market isn't easy nor does it come cheap, they've already invested in Raglan and put the work in so if they can now go ahead and deliver consistent meaningful revenue (relative to the tiny size of the company) then it's far better than throwing all resources at Madden at this stage. Plus, like i'm sure you'd agree, it's important to follow through and deliver on something like this to shake off the image they have for never quite following through...

There is no benefit at this stage for smoke and mirrors, Nick has 100m shares and needs this to be successful to make any meaningful return. He either delivers or gets found out for talking BS - i back the former, you think the latter.

For all the operational disappointments we start next week with tin at $55k against an AISC at least sub $30k and with the other projects spoken for with partners meaning a massive margin to cover the general expenses... plenty of cash will be coming on to the balance sheet.

And we head towards these drilling results at LR with the price of spodumene over 4X higher than the lows of 2025.

The future is bright at ATM.

Nick's comments about Raglan were his attempt to emphasise just how much potential there is from Maddens. He's always done the same with Blue Mountain, used it to represent it as a small stepping stone towards a much bigger prize... whilst also stating that Raglan itself can cover the G&A.

Put the two things together and Nick is suggesting that ECR will be a cash machine in time.

It simply means that the business update on June 22nd at the AGM won't itself include new material information that isn't already in the public domain as of that day hence there won't be an RNS in the morning of 22nd June.

It doesn't tell us anything about the news that is to come between now and then.

Of course I’m not talking about you TS!

You HAVE both explicitly and implicitly claimed Whitlow is still part of the team on numerous occasions over the past few months, that’s a simple fact.

It’s also a fact he’s no longer part of the team whatsoever.

It was exactly one year ago (bar a day) that Richard Hughes joined the board and the share price has risen over 100% since - here’s to a similar reaction for his upgrade to chairman.

Great to see the gold price quickly recover the 24 hour losses, anything above $4k long term should give ECR every chance of success, anything beyond $5k really should guarantee it (yes I know no certainties in this game).

Theoretically ATM should now be able to go on and make a shed load of cash before July 2027 and pay off the CLN in cash that they've just downgraded to 5p conversion price... in reality I can't picture AV actually doing that though, even if the cash is there it's much more likely he uses the cash for some other venture (lithium at Uis?) and issues all those shares at 5p.

Hope to be proven wrong.

Market's saying show up these 6000 results and land the long awaited deal - happily backing that to happen.

He needs that account to rec teabag.

The Jan and April payments are deferred until October 2027 in principle but there’s a clause in there for Heights to be able to covert post TNBC results / June 30th (whichever is earlier).

It’s a one-time chance to convert either on or both of the Deferred Payments - it’s designed to give Heights an early exit if the share price has fully rerated ie if say rhe share price ends up being £2 they’d highly likely be converting early to crystallise big profits.

If 6000 results lead to a deal in the next month and the share price rerates then Heights probably converts these shares… but it’s not something to worry about at 78p today as it only happens following significant short term appreciation.

You say jump I’ll jump Rich, following you over the last few years has helped me turn £5k into £50m.

You truly are a genius and I can’t thank you enough.

Yes it is, at least your comment is. If the share price is lower today it’s because folk have sold post-news, rather than previously selling due to a leak.

It’s also stupid to assume someone would dump like crazy because they heard Andrada had entered into new desires facilities with Namibian development fund whilst also completing the lithium ridge drilling. That’s not news to panic sell.

Barring bad news it certainly looks so.

In the meantime we hope for discoveries at Brandberg West and Lithium Ridge that help command a far higher valuation as it is and also hope that the third party supply agreement goes in Andrada's favour, as gaining access to 11X the grade ore for Uis would transform the balance sheet overnight.

Then Andrada gets into a bit of a mess if they've failed to increase the scale of their operations and hence reduce their AISC by the time that happens.

It doesn't look like tin price is falling substantially anytime soon though so there's still plenty of time to prepare for less sunnier times...

No it wouldn't Gib, it's a silly post below.

Overall the update is a positive, ore sorters full steam ahead and 16500m of drilling complete. It's very positive.

Desperately need to start generating meaningful cash going forward now though, with hedge lifting first then more scale coming online that really should happen.

I get that sentiment but Andrada are looking to become a giant multimetal mining business and they just aren't earning quite enough to rapidly get there. A 10 year loan that strengthens ties even further with the Namibian government (through DBN).

They shouldn't need more cash to fast track the ore sorters but if that's the case then this is the best form it could come in.

You have to laugh if you think the fact that the state funded Zambian government of 1994 couldn't run Kabwe economically so a private company won't be able to either...

Ps in addition the Zinc price in 1994 was ~$1050/t, today it's $3550/t.