Member Info for LSBM

It's also worth remembering that Thor's MRE uses a long-term gold price of $3,000/oz as the foundation for all mining area valuations. That's the floor they're working to. Gold at $4,000 today, even after the correction, is 33% above the assumption underpinning the analyst targets (average 2.41 CAD, 93p). The analyst price targets aren't breaking; they're based on a deliberately conservative number. This is all sentiment.

@condor_forever; excellent news today, but I like your thinking about Celsius. The strategic fit is compelling, and while Celsius is in distress, this may be a shovel-ready project for MTL to acquire in addition. Although, it seems this is a complex battle, it's on the same land and tribe; they have a mine ready with MTL's government fast-track capabilities, maybe the solution to existing battles. I'm sure the team must have looked into this.

Worth remembering that directors face strict trading blackouts for most of the year their windows to buy or sell are tiny compared to institutions who can trade whenever they like, quietly, with no real-time disclosure.

Eben was buying repeatedly at 260-320p just months ago. If directors can only ever buy and never sell, when exactly is the right time — after a 200%+ gain following a profit upgrade? That seems pretty rational to me.

He still holds over 3 million shares. This isn't an exit, it's someone taking some gains after backing the company with real money at the lows. That's alignment, not 'spivvy'.

The oversubscription is genuinely a positive signal, and the long-term institutional thesis point is fair, it's unlikely large funds deployed £103m for a quick flip. However, the idea that these shares are "locked" until the price recovers is a common misconception. There is no lock-up mechanism in this placing. Once the shares are admitted to trading on Friday, institutional buyers are free to sell immediately if they choose. Some participants in placings are hedge funds or arbitrageurs who trade around their position — not all are long-only buy-and-hold funds.

The more important dynamic to watch on Friday is the volume maths. CWR's average daily trading volume is roughly 3m shares. With 18m new shares hitting the market on Friday, that represents somewhere between 6 and 10 days' worth of average trading volume entering circulation in a single session. Even if only a fraction of placing participants decide to trim or exit, that additional supply significantly outweighs typical daily demand and creates real short-term price pressure.

Add in the fact that the placing price was set at 570p, that level acts as a natural price anchor on admission day. Existing shareholders have already been diluted by 9.2%, so the market will need to absorb all of this before any sustained recovery. Long term, the oversubscription and institutional backing are constructive. Short term, the volume and discount dynamics are headwinds worth keeping in mind.

Whilst I agree overall it's positive, there may be an impact in the short term when 18,000,000 shares hit the market on Friday.

Indications are expanding: https://www.pharmexec.com/view/beyond-jak-inhibitors-biologics-signal-new-era-alopecia-areata

Well, someone or an institution has just bought 203,089 shares at the highest price ever. What does that tell you?

UBS raised its price target to 970p from 570p, citing a dramatic increase in expected royalty income. It now expects Delta Electronics to reach 900MW of capacity by 2030 (up from 515MW previously) and Weichai to hit 1GW. The upgrades lift EBITDA forecasts by 31% in 2027, and UBS now projects positive free cash flow across 2026–2028.

https://www.proactiveinvestors.com/companies/news/1092755/ubs-nearly-doubles-ceres-power-target-to-970p-as-data-centre-demand-drives-royalty-surge-1092755.html

An interesting read is the second part of the Q1 RNS: the Board cited "contracted revenues and sales opportunities expected to convert shortly" as the basis for its £2.1m FY2026 revenue guidance, while noting "a number of other opportunities in the sales pipeline that could convert during the remainder of the year, which would allow the Company to increase revenue guidance for the full year."

Still lots of catalysts to land:

Our goal of a signed MLA this year yet, which is still on the horizon and could be transformational with the Endura stack.

Doosan confirmed 3rd-party customer order

Delta Electronics first production confirmation

Confirmation that Doosan has successfully integrated Endura proves the new platform works in a real manufacturing environment and de-risks Delta and Weichai's builds.

The Centrica-Delta RNS committed to a UK demonstration site "within 12 months" of April 2026. Even a small named site with a disclosed customer validates the European commercial pathway and the Endura platform in a real operating environment. The MW-scale target is 3–5 years away, but a demo site with a named industrial or data centre customer would generate significant press coverage and institutional attention.

Agree HBD. We have engaged specialists to get a deal across the line. We have multiple news items due on a pipeline of products that are much further along, set up to benefit commercially. Exciting times.

Fantastic win! AstraZeneca currently has more than 100 Phase 3 studies ongoing and expects more than 20 Phase 3 readouts in 2026 alone, with oncology representing the majority. Their previous contract, the first large-scale Parsortix pharma services contract, was worth up to $1.2 million, covering three prostate cancer clinical trials.

Https://www.techstackipo.com/ipo/spacex

https://www.indmoney.com/blog/us-stocks/spacex-ipo-2026-valuation-elon-musk-net-worth-xai-risks

If SPCX prices near or above $1.75T and trades up, SMT's NAV jumps materially (its $1.25T carrying value could re-rate circa. 40% on that holding alone). The risk scenario: if SPCX disappoints at IPO or falls post-listing (as many high-multiple IPOs do), SMT's premium to NAV could rapidly flip back to a discount, amplifying the downside. The lock-up period on SMT's stake adds further uncertainty about when that value can actually be realised.

AdventHealth operates across approximately 50 hospital campuses, 900+ care sites, and sees roughly 5 million patient encounters per year across its network. It is one of the largest oncology providers in Florida and has a significant presence in other states.

The relevant subset is oncology patients. In a health system of this size, a reasonable estimate for new cancer diagnoses per year seen within the network would be in the region of 30,000–50,000 patients annually, based on typical cancer incidence rates applied to the population served.

The three cancer types in the current studies — colon, GI and lung — are among the most common. Lung cancer alone accounts for roughly 12-13% of new US cancer diagnoses; colorectal roughly 8%. Together with broader GI cancers, these three indications could conservatively represent 30-35% of that oncology caseload, so perhaps 10,000–17,000 relevant patients per year within AdventHealth's network.

The studies themselves are a relatively modest near-term revenue event. The option value they create — if the data is strong — is potentially worth multiples of CLBX's entire current revenue base, from a single partner. Broad adoption within AdventHealth alone could represent £6–7m in annual recurring revenue, against a current total company revenue base of ~£1.4m.

Well, 10 day traded avg. volume is circa 2m shares. Today so far we have hit 25m so something is different for sure. We are expecting news on the £4.5m weight pipeline of deals so perhaps there is an update incoming?

RPI has approximately 193.5 million shares in issue. The placing did not alter this, the 10,909,090 shares sold represent approximately 5.6% of the company's issued share capital, and RPI Holdings itself was not party to the placing and received no proceeds. The Foundation simply transferred its existing shares to new institutional and retail investors.

What did change is the Foundation's own stake. Following completion, the RPI Foundation will continue to hold 79,417,031 shares, representing approximately 41.0% of the company's outstanding shares.

This should be going up as it's not a dilution, but with ARM showing even more confidence in RPI.

CLBX just landed a genuinely important NHS catalyst.

This collaboration is not just another research update — it is a real-world translational study in advanced NSCLC, focused on the patients where ctDNA is uninformative. That is exactly where CTC-DNA can prove its value and potentially become clinically useful.

If this study shows CTC-DNA can uncover actionable mutations that standard testing misses, the commercial implications are big.

That would move CLBX closer to NHS validation, broader adoption, and recurring revenue, which is where the real upside sits.

For me, this is the sort of announcement that can change the market’s perception of CLBX.

Not a guaranteed rerate today, but a serious step toward a much larger revenue opportunity when the data comes through well.

I hope the market doesn't overreact to this. MTL is UK-listed and not a US company, so OFAC sanctions don't directly bind it. MTL is not BHMB. The sanctions target specific named entities — Zhong Fu, Santa Rita, Brother Metal, Grupo Minero Xiloa, and others — that are regime-linked intermediaries and front companies. Those targeted include Nicaraguan entities that assumed gold concessions previously held by sanctioned parties, and firms involved in the occupation of BHMB's plant. U.S. Department of the Treasury MTL is a legitimate Western operator with its own concessions, not a regime front company.

The US action is actually defending Western investors like MTL. The sanctions are explicitly a response to the theft of US/British-linked assets. If anything, this could be read as a signal that the US will protect legitimate Western mining operations — making a hostile seizure of La India more diplomatically costly for Ortega, not less.

The Critical Unknown: MTL's Relationship with the Regime

The deeply uncomfortable reality for investors is that La India requires a functional relationship with the Nicaraguan government to operate. MTL needs:

Grid connection from ENATREL (the state grid operator they're already collaborating with)

Ongoing regulatory approvals

Physical security and rule of law on site

The fact that MTL just received four new exploration concessions from the Nicaraguan government last week suggests the relationship was intact and cooperative as recently as 10 April. I think MTL need to issue an RNS to clarify if they are affected in any way.

Clogging up the board. You have posted 94 times on this board in just the last 30 days, many of them come across as more ramping than reasoned research. Glad you know how to use Research tools; perhaps your posts can benefit.

However, I do apologise for double-posting, which was a frozen screen mistake.

Please keep your comments useful to the forum. Most people can make up their own minds.