Member Info for Icevalley

-20% p & d?

Nice post

Jag, Graham Hill was announced on 27 June 2025 and officially started on 16 July. He inherited a completely broken, mismanaged plant design that had dragged the share price down for years under previous leadership.His job was to fix someone else's structural mess.

He spent the last 12 months engineering the solution, sourcing the funding, and executing the installation of the new Xinhai flotation plant. It went into hot commissioning last month.

Calling a managing director a failure when he has spent his first year building the exact turnaround fix he was hired to deliver—which is actively producing spodumene right now—is just desperate down-ramping.

Your negative comments are weak at best.

Good note from TPI - summarises the copper and gold project - map on page 6 shows its right next door to PAF Pan African( £2.8b MC) which paid $311m for gold company in Tenant creek . Area is hotly contetsted by ASX and LSE major so they must know something

cheap acquistion £100k cash outlay and some shares for asset which has had $5m spent on it. Am sure they are all thinking how did UFO get it from under their noses

same thing was said about the other projects now worth $10's millions of dollars, project generator acquire assets and adding value through exploration

Our neighbours ITM saw a 12% rise in SP down under overnight. Good to see, but I could find any news released to go with it.

Hopefully something positive coming out of the drill samples.

Ezhik where do u see this going?

So we now know for certain we have mineralisation W=0.15% to 0.35% from surface across multiple machine-cut trenches & not just 'random' grab samples. Drills should be turning soon which will inform mineralisation extent and depth across a number of skarns across mineralised trend.

... Yes, the old mine workings are a bit of a give-away!

Good to know the trench samples are grading comparable to nearby GMet (trading at multiples of our MCap, but understandable as they have an MRE!) albeit we have some higher localised grades which is encouraging

ATB APR

Reveille is looking like another Cattaneo-style pump and dump, with Zenith’s involvement helping drag the stock up on thin volume and very little real substance. People need to be very careful here. The company still appears to be built around licence applications, not granted licences, and that is a major difference. Until Novazza and Val Vedello are actually granted, this is not a properly permitted uranium play; it is a speculative punt on paperwork being approved.

The price has moved as if the value is already locked in, when the main asset risk is still sitting right in front of shareholders. Historic drilling and a decent uranium story do not change the fact that without the licences, there is very little meaningful to advance. Yesterdays rise looks badly overcooked and more like a short candidate than an investment case, because the share price has moved well ahead of the actual facts. Shame it is on Aquis, because otherwise I think plenty would be looking at this from the short side.

GP Apparently we are worth over £200 million less as a company this morning. That is rather tempting considering in the past couple of weeks we have added over 150% to our Gold/Copper reserves, appointed a new COO with knowledge of our assets from his time at Newcrest, paid off an $87 million tax bill in full from cash reserves, drilled the bejesus out of sections of Telfer to add yet more JORC compliant ounces to our inventory, and beat the upper end of our guidance by 6% bettering companies that are way bigger than us but for some reason can't produce more Gold than us. The more things change, the more they stay the same.

Tick Tock

AI tells me market cap for this is now as low as 1.65 million quid! This is madness with all the IP. I'm surprised some company doesn't just buy this outright.

Four raises in a year, the share count up massively, and the price back near the lows. People can dress it up however they like, but plenty who bought into those raises are underwater now. The share price was up around 10p and now we’re sitting around 5p. That tells its own story. The issue for me is they keep adding projects but haven’t really delivered anything solid from the ones they already had. Eureka was meant to be the first proper proof point. We were supposed to get assays and then move towards a maiden JORC. We’re now in Q3 and still no assays, no JORC, no proper result. Instead, it looks like they’re now trying to sell it. Maybe they get a good deal, fair enough, but until the cash is actually in the bank it’s just more hope, sounds decent on paper, but it still needs approval, drilling and a lot more money. Paguanta has potential, but again needs money. Pereira Velho needs a JORC before the real value case opens up. Rachaite is another early-stage punt. It’s all “could be good one day”, but shareholders have heard enough of that now.

And these future payments are not just made-up deramping points. They are real commitments if Ajax wants to move these assets forward. So unless Eureka gets sold for proper money, where does the next chunk of cash come from? Probably another raise. That’s why the market is cautious. The Reveille situation doesn’t help either. If Ajax is supposedly about to turn the corner, why does it feel like the next story is already being pushed somewhere else? Ajax holders are still waiting for delivery here, not another shiny new vehicle. Get Eureka sold, get Macacha approved, get drilling done, get a JORC, get cash in. Until then, the share price is weak for a reason.