Member Info for JimPrice

The recent fund raise was very telling. Seems to be a strategic move pre-license to shore up the balance sheet and prepare for action items (offtakes and finance) following license grant. The company conducted it on subscription basis with supportive high net individuals. No one would've supported it if they hadn't been given assurance of successful license award in the near term. I think July will be our month.

2 x £50k+ buys in past two days. I wonder who is buying?

I think the license will catch a few out. If indeed some are of the view that the license is many months, even years out - they'll be buying in a lot sooner when it is granted. Whilst the company does not have control over timelines, as per RNS, they have ticked all the boxes for ML, ESIA was the final hurdle. Surely, it is merely a signature away. I am of the view it is truly imminent, could land today, tomorrow, next month and hence I am positioned accordingly. There is no doubt the risk is higher buying pre license but once granted investors with lower risk appetites will pile in. Offtakes are already under discussion and no one is going to be willing to sign binding contracts without a ML. Things should come together pretty swiftly following the license award

Misty, a company raises when they are in need of cash so given your claim that a placing is being worked within the next few weeks you should know how much cash they have. You should be telling us how much cash they have and wherefrom you obtained that information. As far as I am aware the latest trading update did not contain a reference to cash position

Yes I'm good for opinions but not nonsensical ones. The price action does not bear "all the hallmarks of a placing". That is just an absurd statement. As for raising in the future well it doesn't take a rocket science to note they will indeed raise. 99% of companies are here to do just that but I bet the price will be a lot higher than here when that happens.

That's rubbish and unnecessary fear mongering. I've contacted the company who have dismissed it as pure nonsense. It's apparent there are some on here trying to manipulate the price for their ends. Admin should take note

Going by similar companies who were awarded the license in the same jurisdiction I think we should have it signed off within weeks. We applied for it back in July, it's been pending due to the environmental permit which has now been awarded. BlackRock, our graphite neighbours, had their license approved within 9 months of application

They are awaiting the license to mine from authorities. All great to have a JORC resource but with no license it all stays in the ground. Once they get the license the project becomes commercial - ready for offtakers and financiers to step in. The risk of not securing the license to mine is what holds the valuation down. I believe it is a mere formality now and once awarded the share price will start to motor on. 10p near term target isn't a far fetched target, with offtakes and project license the value will be unlocked and 20/30p+ comes into view

See my tweet here for a breakdown of outstanding warrants and possible view on project finance

https://twitter.com/JimPrice83/status/1380549372421750790?s=19

A combination of debt equity mix. A significant number of warrants tied up with board members and associates so I'd imagine they'd exercise those as part of the equity element. CAPEX comes to around £28m. Perhaps 20% will be equity of which £2m in outstanding warrants which leaves approx £3.5m to be raised via share issuance. Assume a conservative share price of 8p, that's an additional 43.5m shares which is less than 10% dilution of the current float.

The 3.25p warrants from the last subscription are not part of the block listing. None have been exercised to date

I have calculated the shares I believe Kabunga has sold since the last TR1. Of course, the assumption is that the large block sells are his. For those interested please refer to the following:

https://twitter.com/JimPrice83/status/1372494402262867970?s=20

I expect 10p on license news as it derisks the project and brings offtakes/project finance firmly into the picture. The license award has held up everything which may conveniently play into our favour as the graphite sector is red hot right now. Blackrock and Ecograph have secured attractive funding - investor appetite is the best it has been for years. Armadale should be excellently placed to secure attractive funding terms for our low CAPEX project. Plant built to production is 10-12 months so I expect investors will be all over us once the license award is confirmed. Q2 will start to price in the potential and the sky is the limit. GLA

Timelines for permit and license award are dictated by the mining authorities. Company will not know beforehand. As soon as they are awarded we will get an RNS. I am sure they are very close. We have been anticipating for sometime and there is no reason to believe they will not be forthcoming in the near term

Think ESIA permit first then license within a few weeks following that at most.

I'm all for a balanced discussion but this board is a cesspit of negativity. In my experience this is often the precursor for a proper rerate especially when a company is debt free, with decent cash position and multiple opportunities for value inflexion. Nothing is ever nailed on in AIM but WSG looks to be in a very good place to appreciate as we transition to a post-covid world. The risk reward is attractive imv and when the market attention arrives here the deramping and negativity will drown out. Much of it is agenda driven but will soon be gone. Q2/3 will bring some optimisim and positivity once the SP breaks out of this range and back to double figures. Fingers crossed and GLA

It is also worth noting that £800k worth of warrants rest in the hands of two of the major shareholders, Kabunga and Matt Bull. Both are aligned with us and recognise that we are at a point of inflexion. A few major milestones are looming, especially the project finance and a higher share price is in everyone's interest. Should they require cash for whatever reason I'm sure they have enough firepower via warrants to suppor the company. I am also assured cash is not an issue and outgoings are absolutely minimal. In my view we will first hear about the permit, license and offtakes, then the fund raise will be tied up alongside the project finance. The graphite space is red hot right now, and our project economics are highly impressive. GLA

£200k+ raised via warrants in H2. Company has extremely lean running costs, they are good for cash from my recent Comms with the board. The priority is to get the mining license secured. Fingers crossed we hear on the permit soon then get the news flow we require. I envisage the next raise will come with the equity element of the debt finance but time will tell.

Our license awarded subject approval of environmental permit. They did the site visit back in September and I believe all due diligence has been done. Has to be close now.

This is the type of play that will test patience to the max and shake many out before finally popping and going on a major run. I prefer to keep buying the dips and increasing exposure for the inevitable rerate.