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The warrant holders were bound to get spooked and want to cash in their profit given the situation. This just shows how naive the agreement with Zeus was

I'm still miffed about yesterday, but I can't deny the assets here. The bod need to reconsider the agreement with Zeus. And they need to come out of the woodwork and let us know why they needed the money so urgently, and what they're spending it on. As said, the assets are good.

So they give Zeus 12 million shares to get £500,000 and it collapses the share price so they end up with £360,000 instead. At least a discounted placing would have been done and dusted.

I still don't get how they've blown through £300,000 or even £800,000 in 6 weeks.

I'll go through it. At their half year report, on the 26th March, they had a £500,000 loan facility extended to October 2026. Their cash balance was £1.1 million and sufficient for the Company's current requirements. They had cash of £348,000 on the 31st Dec 2025, and they raised an additional c. £1.0 million post period end. They raised £491,933, on sale of warrants that same day. They raised £20,000 on the 10th April, £163,333 on the 21st April. c £30,000 on the 24th April. They have a cash balance of c.£1m as at 30 April 2026.

Even if you claim that the £491,933 raised after the half year report was included in the report (I'm not sure about this), then they've still spent over £300,000 in approximately seven weeks.

The problem is that Cedric is spending like a drunk and Louise is awful as a finance officer. The project is good, but the inside trading isn't

And the whiff of inside trading yesterday

They give 3% of stock to the wrong company and it wipes 30% off the share price and they call it a Growth capital facility huh???

It's unscrupulous to do a big promotion and then a bad share placing the next day. I ought to have known better when Zak Mir was promoting it

He'd have been better off with a placing

How China Killed Every Rare Earth Competitor Before It Could Get Started | OilPrice.com https://oilprice.com/Energy/Energy-General/How-China-Killed-Every-Rare-Earth-Competitor-Before-It-Could-Get-Started.amp.html

I'm very busy atm but can someone ask them when the next drilling round begins

Won't the Cameroon gov publish the results of the four other licence areas by the end of April?

If they're going to start off then small products are the way to climb, think purses and watch straps, where you can build the skin needed more quickly.

They sold 5m a couple of days ago, £200,000 worth, but they need £375,000 to buy the warrants

Next week it is then. I expect buying later on today. I've got some pennies waiting on the side, as well as some in.

This is the deal, from Ai

As of April 20, 2026, USA Rare Earth (USAR) has agreed to acquire Brazilian miner Serra Verde for $2.8 billion in cash and stock. This acquisition secures a major, operating, large-scale source of magnetic rare earth elements outside Asia, significantly strengthening U.S. supply chains for defense and technology industries.

Serra Verde Group

Key Aspects of the Acquisition

Target Asset: Serra Verde operates the Pela Ema ionic clay deposit in Goiás, Brazil, producing high-demand Nd, Pr, Dy, and Tb magnetic rare earth elements.

Strategic Value: The deal is designed to create a "mine-to-magnet" vertical integration, combining Serra Verde’s production with USA Rare Earth’s development projects, notably in Texas.

Government Connection: The deal includes a 15-year offtake agreement for 100% of Phase 1 production with a vehicle backed by U.S. government agencies, enhancing critical mineral security.

Transaction Details: The acquisition involves $300 million in cash and 126.85 million shares of USAR, aiming to close in Q3 2026.

Serra Verde's Operations

Production Status: Commercial production began in early 2024, making it one of the few, if not the only, large-scale producer of both light and heavy magnetic rare earths outside Asia.

Capacity: Projected to produce 6,400 metric tons of rare earth oxide per year by the end of 2027.

This move directly addresses the U.S. and its allies' scramble to diversify rare-earth supplies, reduce reliance on China, and bolster domestic manufacturing for high-strength magnets used in EVs, electronics, and defense

Next week for the mre, hopefully

It could be good news if they enter the watch strap industry, especially alligator/crocodile skin. This will give the consumer the option of lab grown skin, and the amount needed for a watch strap is relatively small. A jaegar lecoutre alligator strap is £490 if bought direct from the company.

This could spark other companies to make the leap

I wonder if they delayed the MRE until Louise had her shares tucked into a sipp