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I think most holders here would be delighted with a £2 share price even if that takes 2, 3, 4 years?
20% continual growth in revenues will make biotech funds sit up and take notice, just need one/two to start nibbling away at the shares for momentum to build.
Just glad we don't need to raise equity as numerous companies in the sector are having to take big haircuts on SP or choosing to delist entirely.
Will be at capacity in 2 years time if growth continues at 20%, current facilities can do $40m of revenues.
Hence talking about Phase 2 expansion in 2025 for cost of $4m, don't forget some of the costs where paid for in Phase 1 expansion already so Phase 2 is about getting more clean rooms operational.
GBU award/decision to be out by tomorrow
https://money.tmx.com/quote/GBU/news/5328069024837043/Gabriel_Resources_Ltd_Update_on_ICSID_Arbitration
Holders here might want to keep an eye out for news flow from Canadian listed Gabriel Resources GBU on TSXV who are suing the Romanian Government for $4.4BN.
A court decision is due on or before the 12th of March.
Not sure if the below link will post but have a look a the last news the company put out
https://www.gabrielresources.com/wp-content/uploads/2024/02/GBU_Share_Price_Movement.pdf
You can't issue warrants if you don't have the headroom
315m shares they can issue tomorrow, even at 1p it doesn't sound like this is enough cash for the drilling of Itambula and go back to Tai 3
If they announced a raise tomorrow morning 315m could be issued straight away and XXXm would be subject to shareholder approval again, I'm not sure if 21 days is the exact timeline on another shareholder meeting
ATM I can't see this being done at 1p unfortunately
Raise enough to drill Itambula and going back to complete Tai 3 they can't say how much is required
Even then post those wells being drilled additional funding will be required
So we have a confetti placing coming to be followed by another placing post drilling results?
TBF nobody knows but highly likely there'll be several billion shares in issue by the time they are done
Sorry was a rather rushed reply on my part, as I forgot to mention the graphite test work still to come.
Rio have 180 days (not 18 months) from DFS coming out to assume an operatorship position - ie make a decision.
By mid July 2024 they can opt to move up to 19.99% for another AU$18m (£10m) investment, I'm assuming when that money comes in Rio will be happy with what they see with progress being made on DFS.
Rio balance sheet will massively help in terms of bringing Kasiya into commercial production.
If the DFS is out by year end 2024, then presumably Rio pull the trigger before June 2025.