Member Info for iWantThatOne

It was a mid-price (“Unknown”) in the transactions data so not clear they were two buys. Also two identical transactions of a very uneven number of shares with expenses deducted from one strongly suggests a transfer. But certainly there does seem to be more activity in the last few days. Not sure the scale of it warrants the drop in SP. Come on AVO, your management of this situation has been shambolic and reflects very poorly; get on with it.

Spoke too soon, with Odey having offloaded almost 2m shares.

An updated Form 8 from Odey Asset Management which shows they’ve sold 849,156 shares of their 50m or so. As it happens, yesterday’s transactions showed what was clearly a transfer of those exact shares to another party (same price, just expenses taken off), so hopefully that’s just a pre-arranged swap of little concern.

I’m not sure Crispin Odey’s troubles directly affect his holdings here, let’s hope not. The less uncertainty the better.

Two months next weekend since the strategic review started - plenty of time to have seen if any potential partners are interested. The fact that the company hasn’t said “there’s no-one, so we’re going to list on NASDAQ ourselves” makes me think/hope something might be brewing.

The debt plus interest on Kor will be repaid steadily over a four year period, if it’s the same as Yan. There will be penalties for early repayment so that’s unlikely to happen. So those saying the debt will quickly be repaid are not correct. (Of course *net* debt will quickly reduce as the cash builds up). The question really is what will the company do with the growing cash pile? Either put it towards Dugbe or another new mine, would be my guess.

Some of you guys crack me up, with your five zillion ounces, super low AISCs, debt gone by tomorrow, the price of gold at $2500 and doubling of the SP in five seconds. But yeah, positive step today, probably priced in for now.

RNS out. Still exploring more funds through the CLN route plus further non-dilutive options. Said to be “optimistic “ but no guarantees. Real seat of the pants stuff here, I’m pleased they’re focused on non-dilutive options but just can’t get my head around why they’re taking it to the wire. I continue to think they may still be waiting on a loan, but who knows?

Popped in to have a look at what’s going on. Usual bedwetters moaning. So so boring. Plug Power, FCEL, Ballard etc all 30-45% down over the last 6 months. AFC down 20%. Stick that in your pipe, derampers.

Starting its climb back up as it usually does towards the end of each half year. Would be nice to see it back to the 260p it reached previously before its inevitable retrace.

It’s been six weeks since the review kicked off. By now they should be clear whether there are any potential partners or investors out there, going onto the next stage. Hopefully we’ll be given a hint very soon, perhaps at the same time as a funding update (which surely must come this week).

They have about 150 actually. It’s not unexpected that some people may have been asked to leave as the company’s been very clear about cutting back its cost base - and as it emerges from its R&D phase that doesn’t sound unreasonable. So ok have you got any real info or are you just scaremongering?

Iwant, where have you got that info from, about salaries not being paid for the third time and a move to remote working?

(There’s nothing wrong per se with suppliers taking shares in lieu of cash, btw. It’s not uncommon).

You would have thought some of the companies selling existing proton systems would be interested in LIGHT as a defensive measure - because if it can be produced for $50m rather than 2x, 3x, 4x that, then potentially they’d be blown out of the water.

*funders of last resort*

In terms of further cash being raised, the Form 8.3s are revealing about who has real skin in the game here. Odey, Seamus Mulligan and Mrs Renhua Zhang (Liquid Harmony) have between them 127.7m shares and 55.14m warrants at 25p. Just getting back to 25p share price would be a gain for them collectively of £23m from here. Getting to 37p (roughly equal to the £200m invested in LIGHT to date) would be an increase of £44.9m (including the warrants). One would hope they are prepared to invest more, as “founders of last resort”, until a more permanent solution can be found. Assuming they are able, and haven’t lost faith.

Bimini, the RNS said the “cash runway” has been extended to “near the end of May” (or similar wording) as a result of the latest CLN investments. So there’s your answer - at a run rate of somewhere between £1.5m-£2.5m per month, there’s probably c£1m left.

I don’t understand your point about no actual cash having been raised? Of course it has - from investors in the CLN. If you mean the company must repay those amounts in due course, well yes that’s true (unless converted into shares).

Good news that the Credit Suisse loan repayment has been deferred by over three months. I’m slightly confused though - if the loan is secured on cash already in a pledged account then why is it an issue to repay it now? Unless it’s just some small legal fees that’ll be saved?

Actually it was Oliver Ortiz who “liked” the post from a medi-tech firm, not George, my mistake.

And another RNS today. This will be interesting - we should see everyone whose contributed 1% or more to the CLN, I think. Should give clues as to who they’ve been approaching to raise the funds.

What an interesting RNS this evening, stating that one of the investors in the CLN (plus over 12m shares) is a Lithuanian real estate firm, owned by the Ortiz family. Why a real estate firm has an interest in AVO is....unclear. All I’ve found so far is that George Ortiz, the Chairman, has liked a post on LinkedIn by a health tech firm.

Kenj, you’re forgetting the Directors’ fiduciary duty to the shareholders. They’re not allowed to let the company fall into Administration before all routes to keep it as a going concern are exhausted.