Member Info for JamYesterday

Serendipity, you made the right call moving into BRES. Imho.

Correct me if I'm mistaken, but was there zero mention of Seascape looking to buy into any near term production asset in SE Asia this time?

I'm struggling to understand the agenda behind senior executive taking time out to go to London to make this appearance.

Another missed deadline in sight, or one of those sneaky end of Friday rns's to come?

But not the rns we are all waiting on, still.

@Keith, Mr Market simply does not believe these numbers put out by PRD. I feel pity for you LTHs who are stuck in the quagmire of this depressing story, but, hey, PG is still getting his fat pay check so he can say what he likes, to keep the show running.

Did the presentation or Q&A answer the question, when is the next placing?

I'd rather invest in a company with a CEO that is razor focussed on delivering a long term winning strategy than one who feels compelled to respond to clamouring short term traders for cosmetic news updates.

How far away is Eroxon from triggering a milestone payment by Haleon in the US market?

Plus another 21.473mn warrants at 6.5p that expire in September 2027.

Or micro cap Main Board listed.

Your thought would have more import if RAB is selling down a whole raft of AIM listed resource shares they own in portfolios.

That's the third placing this year. Quite a cash hungry business, this.

Doesn't look like a pre-selling placing action either. If it is, it's the most egregious one I've seen in a long time. No, more likely a market order to sell 100k+, as seen by the regular 20k sells this afternoon.

Remember, guys. You gotta leave something on the table for the buyer to extract value for its financial commitment. Hence a 20% of npv take out in this market may be a great compromise on all sides.

Everything?

How about a bit extra cash from a placing, to do a decent deal?

Yeah, you're probably right. I'm guilty of over-analysing this deliciously poised event-driven story. Back to the footie!

Good post, MerchantBanker.

The only fly in the ointment that I can think of, apart from the sizeable warrant conversions as we progress higher, which is a short term nuisance, is that Blencowe will rely on Chinese IP and know how to build the SPG plant in Uganda. No Western company has this tech, afaict. So with Premier Li Quiang threatening to cut off Western access to strategic minerals technology, in a worst case scenario, what is Plan B?

Oh, and it's not a shoe-in that the valuation on Blencowe will adjust to 15-20% of npv, post-DFS.

Only this week, Ferro Alloy (FAR.Ln) came out with its long awaited DFS (sans offtake deals), producing an NPV8 of $748mn. The sp promptly nose-dived and its valuation stands at £33mn, or just 6% of that npv. Different metal, different location, but I'm just saying..... Even so, on a comparative basis, 6% of your projected $1.2bn npv would take Bres to 11p, so quite a bit of upside even being ultra cautious.

In both cases, definitive offtake deals and full upfront financing with minimal equity dilution will be needed to extract real value.

TheBigShow,

LOL. You do make me laugh, with your tales of "block buyer about" or "more buys than sells", and yet the sp is behaving in a cretinous fashion, quite the opposite of what you punters thought would happen with the DFS rns. Learn to read the market, son. Something is not right here. Is it the horrendous capex cost, or the lack of definitive offtake deals, or a country perceived risk, or insiders not willing to ante up any more? Who knows, but this sp action is awful.

Keith is making a valiant attempt to bull up what is in essence a no new news update. Clutching at straws comes to mind.

The Sleeping Giant continues its slumber.

Has this share still got £1 written all over it?

Rather than being the "iPhone" moment, and get subsumed, I prefer to think that Avacta will go the "ARM" way, keeping independent ownership of the IP, the moat, and licensing out to all and sundry BP who want to embrace the dual payload with their own efficacious drugs but with side effects.

Just need those first one or two such deals to make CC's vision crystal clear to the market.