Member Info for iWantThatOne

Will you stop this 1% “wafer-thin” margin BS! They make about 20% gross margin on contracts.

Agree about the limited mining impact at Kor - it will have taken them a while to run through what’s on the ROM pad anyway. As soon as mining recommences it’s then a case of straight into the plant. For me 2024 is solely about getting Kor up to speed and paying down the debt per the schedule. The exploration and Dugbe can wait. I think the diesel supply will be sorted reasonably quickly (it’s absolutely in the Government’s interest) but of course there will be an impact. Nevertheless, c$25m from the equity raise plus 140k ozs at $400 margin, say, should be enough. I expect more hedging to help secure the debt repayment.

Might need to hire some staff first, Basil! I can’t imagine many of them are still there. Who can afford not to be paid for eight months? I expect some of the liabilities that is intended to be settled with shares relates to remuneration owed to staff.

What makes you think SI Capital are involved? They seem to focus on renewable energy, not medical tech.

Good Lord, an RNS! Seems both the Recap plans and bridging loans are both at advanced stages. I’ll believe it when I see the money.

2025 is supposed to be the year for real “take-off”, according to Paul Larbey. Get those deals signed in ‘24 and sit back!

I can only think the market doesn’t believe the business model, and/or its sustainability. It may take several years of solid growth to convince the doubters.

Kenj, you may be right but I haven’t read anywhere that the two lenders are the same party. On 30th June we learned that the £8m loan was no longer available in the short term, and then on 17th July we were told that the company was in discussions with several parties about bridging finance - which sounds like different entities. In October discussions were still “ongoing”, presumably with one or more of these parties. In any case, it doesn’t matter that much. The larger $80m deal is the one we need to get over the line. It is ludicrous that it can take six months and tells me something is very wrong. And we still haven’t learned today whether shares are to be cancelled or not. Shameful.

I cling to the last shred of hope but I can’t help think that if anyone wanted to fund the company they’d have done it by now. Perhaps the investor is dragging it out until AVO gives up the ghost and then hopes to buy it out of administration. Meanwhile the bridging loan lender won’t lend anything until they’re confident of repayment - which rather defeats the object but who’d be confident when the equity raise has taken six months?

Merry Christmas to all long-suffering AVO shareholders! It seems almost inconceivable that there remains any life in the old dog but we can hope for a miracle.

Exactly, bumblebee. I would like more detail from TLY on the resource they use for the procedures but if it’s contract, or consultants working on their private lists (rather than NHS - as many do both) then the cost of that resource will be greater. It always is for outsourced labour. Currently the NHS is prepared to pay these rates to TLY but if the Labour Gov increase the NHS budget to do the same in-house then I fear this will reduce the contracts put TLY’s way.

The questions today may have been filtered a little, who knows, but there were certainly some very uncomfortable ones for DB - like “who’s responsible?” and “who pays for the support fleet at Kor?”. He seemed spiky, annoyed and fed up. It seems clear the contract miner in Guinea has not delivered over the last six months - we already knew about the recruitment issues amongst the local population. It sounds like HUM has had to get involved to a much greater degree than anticipated and that legal action may be playing out behind the scenes. It sounded plausible to me but again demonstrates either HUM’s inability to manage contract miners or their inexperience in not anticipating such potential issues. Nevertheless I took heart from the discussion and have quite a bit of confidence now that things will be on track within a few months.

Stt, self-employed doctors will demand daily rates that allow for their own pension contributions and whatever NI they need to pay as self-employed contractors. If you think the cost of a self-employed contractor is less than a permie I think you are deluded!

Stt, the point is that if a Labour Gov intends to put extra funds into the NHS (eg paying consultants overtime) to do weekend working to cut backlogs then presumably that work will no longer be performed by TLY. The NHS will keep it in house.

Any thoughts on Wes Streeting’s comments today, that the next Labour Government will seek to reduce waiting lists by opening up NHS theatres etc at weekends?

Maybe I’m being stupid but how can the jury decide against CAP-XX partly on the grounds of the inventor(s) not being identified if the patents have been signed off by the Patents Office and their validity was not being assessed by the court?

Setting that aside, can we say:

- appeal v likely

- patents still valid, just not infringed (though question mark over whether patents are watertight for above reason: but can probably be rectified)

- no monies repayable in respect of sales from licensees

- no effect on licensees selling CAP-XX products but there would be for those licensing the underlying technology in their own products. Who are these companies and are they paying meaningful fees?

Some huge transactions today, looking more like buys than sells - maybe someone looking forward to a good year-end update and stonking 2024 forecasts. Some upward momentum at last!

You’ve got to laugh. It was two years ago this month that HUM started to announce the results of 24,000m of infill drilling at Kor - on top of all the many, many metres of drilling done over the years before that date. And yet “experts” here quickly come to the conclusion that the gold isn’t there, or that the plant is over-sized, as though HUM just built a plant on a whim, without a detailed resource model. Some people just don’t have the patience…..

This is pure nonsense about CiG taking control and ultimate ownership. Why would the HUM board propose the placement in this way if it will inevitably lead to this outcome? A Rule 9 waiver may be being applied for simply as a temporary measure to get the placement away quickly before CIG’s excess over 30% is later transferred to other institutional investors at leisure. They might be doing it like this simply for speed, which may or may not be driven by a need for cash at Kor or Yan.

Instead of the perennial concern here about management not doing the right thing by the (retail) shareholders, perhaps what we’re seeing here is CIG giving the Board a good kicking and saying “look, you need to start delivering shareholder value and this is what we want you to do”. Grow reserves quickly; get Dugbe ready for its next step instead of constantly kicking the can down the road; and yes, strengthen the balance sheet. Perhaps the days of DB half-heartedly trying to get the SP up are coming to and end and he’s finally feeling some heat. And if all this raises the possibility that HUM is eventually sold, so be it. This is all self-interest by CIG of course but all shareholders would benefit. And maybe that’s why Dan looked and sounded like a hostage in his video. Another indication would be the appointment of a strong chair person soon.