Member Info for JimPrice

Buy or sell - in any case it doesn't matter. If it's a buyer that's a good thing and if it's a seller even better - absorbed by the price and water under the bridge now. MMs happy to take at 3p, they'll certainly be passing it on higher

We secured two contracts of $100k+ a couple of years ago when this law was first proposed. Now it gets a mention in the Kings speech and based on Starmer's pre-election comments it will be expediated into legislation. This should open up huge business for us on home soil. 2025 likely to see another dimension to the business.

DrM, the RSP has indeed tightened up. It appears there is less than 100k shares available sub 3p now. Unless a seller shows up this is ready to move up.

Looks like your post may have triggered some buys. Certainly someone taking advantage of the price whilst it's quiet

This is a solid finance package. The lender has option to convert the loan to shares in 12 months time so you have no immediate dilution and no overhang. This will support the price as news is released gradually over the year. We have a plethora of good news and growth to look forward to. WSG has not placed since the previous raise some years ago at c. 5.7p. The funds will be deployed for growth and cash generative projects, not to keep the lights on. The likes of misty and others have been calling a massive discounted placing for years which has never come and now they're disappointed with this outcome. The board should be commended for pulling this off.

The dilution is merely 15% of the current float and that if the whole amount is converted. This can only be converted in 12 months time by which time I reckon the share price will be much higher. This finance package clearly shows the board is on the side of shareholders. They've carefully considered our financing fears particularly in the current market conditions where the terms are quite frankly brutal. We have DRC revenues coming online this year, a transition to profitability by year end and another game-changing MSC at a very advanced stage anticipated. This funding gives the company the spring board to transform the business over the coming year. It certainly has a very different feel to it than the WSG of old.

Solid RNS. PF has secured £1.5m on favourable terms. Debt convertible at 3p in 12 months from now. No death spiral, no mega dilution, the funding uncertainty lifted. Well done!

First it was "jam tomorrow and no contract" and then when the contract lands the complaint is they only got it because "no one else wanted it."

The bottom line is that they have a $10m+ revenue per annum contract. We are about 6 weeks away from recognising initial revs. This is a major moment for the company.

Mahenge is an extremely attractive asset. The economics are out of this world for a company at this valuation. Of course it means nothing if we can't get the graphite out of the ground therefore the current SP is pricing in failure on this front. The project is from dead in the water as some may have us believe. We do know that it is pushed back from the 27th Feb RNS and so the company do not consider it wise to sit around doing nothing in the meanwhile. Blackrock will be the barometer for action IMO. Once they close their funding and start construction that will be the green flag for action. The government must agree to moving things forward on terms agreeable to investors in such projects.

In the interim period, Matt has decided to pursue another opportunity, the details of which are sketchy at the moment. We have to do read between the lines until the company issues an RNS with further information. If the project is about to fail, ask yourself why Matt has coughed up another £100k to take his holding to a whopping 62m shares. He is heavily invested now with 9% ownership of the enlarged float. In terms of salary, the directors here probably have the lowest payout of any company on AIM with the leanest cost base. Matt therefore relies heavily on his equity investment to make something here. He is not fleecing shareholders and the company is not a dilution pit like so many others on AIM. This placement was not a "lights-on" one - it is to fund growth and unlock value. If the SP collapses so too does Matt's investment. His success by extension is our success and I will back him to deliver.

A sign of things to come misty :)

For those who haven't had the ill fortune to interact with Rob, he is best characterised as a troll who lingers like a bad smell. He was particularly vile and foul mouthed on twitter until he was banned. His posting history demonstrates his chameleon-like changing colours and despite what he says about having no agenda this is quite frankly a lie. I would suggest to put him on filter and report. Some of the posts today are bordering libellous, particularly the suggestion that Matt was colluding with Asimwe Kabunga to manipulate and deceive the market. This is absurd and has no basis whatsoever and should be reported. Matt is THE major shareholder in this company and along with his family and friends has arguably the biggest interest in its success. His recent investment in the placement is testimony to this. Although the last few years have been rocky for investors, I believe the new project will breathe life into Armadale.

PF is quietly focusing on the business as he has been doing to get the DRC over the line. People have been writing him off, he is not making the noise traders would like to see, i.e. ramp, place, rinse and repeat. This is now turning into a proper and viable business, not the WSG of old. I am confident things will turn here and happy for PF to get on with things in the background. As investors, we will have the last laugh, traders will only make so much trying to game the SP but if you accumulate in times such - as this as many of us were doing in the 1s when derampers were all over it - we will reap big rewards. I say watch this space, big few weeks and months ahead AIMHO

Misty, I will repeat the question for your attention, Please provide a fair valuation of what you think the DRC contract is worth in terms of SP. Is 2.6p an accurate representation in your view, if not what is?

The headline is $10m ratified contract with a government led by a UK trade delegation. You seem to stuck in a time warp. The ferry contract was internal miscalculation, they messed that up. This is not a comparable contract in any way. Why don't you provide a valuation of the company based on this. You have numbers available to you now, is 2.6p a share a fair valuation?

DRC and ferry are not comparable contracts. This has been ratified at $10m per annum. SL is a successful contract and a better model to judge against

The board have said they value this deal alone at 10p per share on current data. This is based on the CFOs internal calculations. As revenues begin and with the transition to profitability we will be able forecast, the valuation gap will start to close. Only a matter of time now

There are those who have sold out hoping for a cheaper buy back and those who are still selling anticipating a deeply discounted placing. The market is tentative now as volumes have dried up but watch them pile back in as the tide turns. We need the company to announce a funding package on good terms, I hope soon. By the time first revenues are received in early H2 I don't think the share price will be trading anywhere near to current price.

For the record the company has never said they won't dilute for this contract, neither have they said they will. Their preferred funding route is debt finance as per the RNS. Let's be clear on this. I would say however the best time to place if they wanted to would've been immediately after the news as they did when the original DRC contract came through in 2021. There has been no PR following the news and Pete has said that there are a number of funding options on the table which they will take their time to consider. They will take up what is best for the company.

He also said that the initial upfront costs are a lot lower than people think. On top of the £800k in the bank they have unused overdraft facilities. CFO confirmed that they are trading around break even and anticipate profitability by this December interims. That is free cash flow at their disposal, I'm sure they will take this into careful consideration when announcing any funding package. The final thing to add is they are looking for a long term debt funding which also takes care of another "extremely advanced" MSC. By the time that lands it will be all systems go hence the careful deliberation on the various funding packages.

No the ship is good, it's the ferry we don't want to remember :)