Member Info for jdt1990

Be careful way you wish for Cbax….Emma answered with what I fear is the final nail in the coffin and my GRL investment up in smoke.

That gold pour is pitiful given they have spent the recent placing money on “improvements” 😂.

Looks like AIMS have had enough….and rightly so. I’m sure they could just take control and get someone competent in to do it.

They’ve blown the money, jack all left and can’t produce any meaningful gold to clear the loan.

They’d be best off just applying to be on gold rush and get paid to put this farce of an operation on tv for us all to laugh at.

They won’t find any good funding options in this climate. AIM is on its a*se.

So congratulation Emma and Co on the calamity and what really annoys me most is that they never once just stick their head out and admit they couldn’t do it. She hides behind radio silence with no accountability.

That this bunch of jokers noted in the last operational update as the timeframe for the accounts. Still nothing….

Then we still need the half year accounts to be published before this can relist.

Absolute farce

I would think you are right waimea...such a short extension based on the shambles that has been GRL so far, would suggest AIMS are at the end of their tether with these chumps and sick of giving them chance after chance.

"The Company can report that for Q3 2023 to date, some 652 ounces (20.290 kilos) of fine gold has been shipped." Was from the corporate update in Sept. Could they have sorted enough of the issues to get enough gold in the next 2 months to pay it off?

Highly doubt it. I would hope if there is a renegotiation, which would be on less favorable terms I'm sure, GRL pay some of the outstanding amount off with what they manage to produce....

But with Emma and these numpties, anything is possible!

Crikey Wyndrum. If I didn’t think you were thick as mince before, I certainly do now!

“if the value is in TX why did AVCT by2 x DX companies?”

You do realise Avacta are making strides to possibly becoming standard of care and not just disrupting to take a slice of, but extend a multi billion dollar market in Dox alone. One which is limited in application and as such efficacy by DLTs (oh wait you’ve seen the recent C6 completion RNS right?)

AVA6000 is just one example the Precision platform could be applied to….multiply that up….the market is mind boggling. So yes, the ultimate value is in Tx.

To realise that will take time…needs these things called clinical trials! Buying off the shelf Dx companies provides potential near term revenues in the interim, yes loss making (just) but H1 was first full period for launch and only one month of Coris. Give it a chance.

Couldn't agree more - he was so out of his depth it's untrue and trying to be way too clever. I had cut Fortune some slack previously but looking at what a competent person like Craig has come in and done in such a short space of time....just shows FM was long overdue being shown the door before he sent the company under.

Yes the Vanadium market wasn't booming in recent years but you stress test that before you tangle yourself up in all these deals that come back and bit you in ate butt.

Craig knows that - back to basics - lets get some cash flow back in from the bread and butter stuff.

H1 was always going to be tough and the numbers show that. The market however has already given BMN a battering for it.

There is no denying Craig has come in and used his time wisely to lay some good foundations and made some very smart changes. The shoots of which are already being seen.

IMO doing all this whilst the Vanadium price is low is no bad thing. Makes the cash situation a bit more hairy short term but weak rand and the recent deal should keep that cash question at bay.

H2 has BELCO, Orion financing, hopefully some steady production to come and all we can hope is once positioned nicely…they can capitalise on an inevitable Vanadium price rise.

Headline figures aren’t great but they weren’t going to be. This one is all about the achievements is resetting the business back to doing the basics well and untangling the mess fortune got himself it…which Craig is certainly doing!

Magic thank you. So should the MURP share price continue to rise (or stay above $15) there is instant profit in exercising ASAP and selling ASAP.

Ace - out of interest where did you get the details around the issue price calculation?

Given the current MURP SP, say they are issued at the max $15, then the below from the original RNS would mean there is some decent profit in disposing fairly quickly if it stayed at say $17....absent of any wild FX moves of course.

"It is estimated that in the event that the Option is exercised, the Consideration Shares will represent approximately 0.66% of the enlarged share capital of Murphy (assuming no redemptions in Murphy). It is the intention of Vela, subject to the necessary regulatory requirements of NASDAQ, then to sell the Consideration Shares in order to augment its cash reserves. The Consideration Shares will not be subject to any lock-in restrictions."

BigDave the option exercise is for a fixed consideration. So all that changes when the exercise is complete is the number of underlying shares they get for the £4m.

The question will be whether they think it's worth holding from that point to see AZD1656 play out or do they cash in some/all to re-invest elsewhere (given the comments around how cr*p UK markets have been this year).

I suspect they will cash in some fairly to provide working capital anyway as cash balance is very very low.

Not quite TwistyMinkle .....few final hoops to jump through:

"following the satisfaction or waiver of the remaining closing conditions as stated in the Murphy announcement"

but it's close

Current Mcap at this price is £4m...the value of proceeds from the put option (assuming all is finalised without a glitch)

Total assets of VELA at 31March was £6.2m so fair value once cash received you would expect to be at least 0.06-0.08

CRIKEY I MAY ONE DAY SOON BREAK EVEN HERE haha

I reckon these foookers will take it private and shaft all PIs to reap the rewards themselves. Just like NCCL did (now Solgenics)

That also reads to me as 652oz for Q3 not the full year. So around 900oz to date in 2023. Woeful really. Especially when margins are tight and as you say capex and opex hasn’t stopped!

They need to produce the H1 interims by end of this month anyway wasa so we’ll get a more up to date picture fairly imminently. Not that it’s going to be pretty!

Doesn’t read too brilliantly. At least they have still been doing something but it is literally like reading a transcript from an episode of Gold Rush.

They clearly just haven’t a scooby do what they are doing on a corporate or practical level!

Hoping AIMS are supportive - I would think for them, they are now in so deep they might as well see this through.

It's not cryptic at all. They have agreed to match whatever is in the completed restructuring with Orion. Given the Orion deal is yet to be officially finalised and put to shareholders, they can't confirm that final price.

Craig said on his last call that he didn’t see any reason why there would be any change to the original Orion terms. This deal will have been in discussions for a while, so my guess is the 6p we’ve already been told

Deacs you’re right yes cash balance £50k as of June which I was expecting to see some holdings sold or a raise, not sure how they plan to run until the option exercise in all honesty as that could be a little while longer.

Good to see the necessary steps there are progressing though.

Think that’s what makes me most uncomfortable, that he’s imminently happy to propose an ASX listing (which will give some cronies an entry point) based on a resource estimate that is 12-15 months out of date! Level playing field for UK PIs….I think not!

I Expected NCM to do the dirty…..SD will have known too so not sure why he wasn’t better prepared.

I guess the only saving grace on a Dec quarter updated MRE is we get the full drilling to date included….

It’s becoming ever more obvious NCM care less and less about assets that they think Newmont may not want IMO.

Good riddance to NCM, since they chose not to take the extra 5% they have really dragged their heels. Time for Havieron to get a partner on board who really want to progress this or GGP take full ownership.

How can you have such an outdated resource estimate and no DFS when first ore is due in circa 6 months!

Time for Shaun to show just how aligned he is to shareholders and get this self completed resource update out ASAP.

I don’t for one minute believe he was waiting like all us last night for an answer to the will they/won’t they provide one. Hoping it will have been started already and we will see it soon….just think of all the drilling done in the last 18months that need to be included!

Have to agree Skibba with regards to focusing on core activities. Craig must just think what the hell is going on here and want to clean up the spiders web Fortune created (albeit with good intentions).

This is just all too complex and an unwelcome distraction from the core business.

Back to basics, reset, and start from the bottom up is the new order….walk before you can run and I think Craig has recognised this!