Member Info for martin-s

And just as interestingly, just how convertible are they?

http://cbonds.com/emissions/issue/265969

https://www.bbc.co.uk/news/business-49490451
Yes please :)

Agree with you. If you're going to invest in early stage companies then you need to be comfortable with risk and be able to remain level headed rather than allow emotion to cloud your judgement. Share prices are a roller coaster, sure, but there's no urgency for LTHs.

The current share price reflects uncertainty - as it does right across the market while B-word is weighing on things. All will become clear.

"Peel will provide support to W2T with ongoing engagement with funders, with the intention of securing funding for the pipeline of 11 projects from institutional investors."

This is the key bit. Until there's funding in place, it feels a bit "same old"

Although there are definitely lessons to learn about unquoted and hard-to-shift stocks (naive given potential Brexit turmoil?), I wouldn't choose to sell my Woodford holding. I share his view of investment fundamentals and would still expect him to come good over the investment cycle.

HL's results stand up well today, as I thought.

I wouldn't normally agree with that viewpoint, but today is the first time I haven't averaged down. I only have 100,000 shares (nice round number helped me avoid pressuring myself?) but it was a costly day.

Their multi-manager funds are something I'd avoid like the plague - who wants to pay two management fees. But I can't see that many customers will leave over Woodford.

I'm a Woodford investor myself, and wouldn't choose to cash out yet anyway. He's a long term horizon investor and so am I.

Don't be ridiculous. They've not handled the Woodford saga well at all, but their 'moat' advantage is hugely significant. They offer the best service, data and analysis, software and app, etc. by far.

All very odd. Are buyers confused by the consolidation?

Ball park 1,800,000,000 shares are going to be issued for Avalon? And then a further £24m raise (1p or less, given past history?) = another 2,000,000,000+

It might save RedT from the scrap heap, but it's not looking good for any potential returns for LTHs.

Continuing to view my holding as written off.

So with 1,629,001,910 shares in issue, there's a potential total lifespan return per share of $0.0166 (1.66 cents / 1.3p)

Not sure how I'd missed that, so thanks for posting. Useful takeaways for me were:

1) $120M of potential inground value (~350,000 carats at budgeted average value)
2) of which 5% has so far been mined, so ~330,000 carats remaining
3) Operating expense in 2018 was ~$3.8M (does anyone have figures for the 2019 budget and beyond?)
4) Breakeven at that level of spend is a little over 11,000 carats per year
5) Current targets of ~15,000 carats per year gives a ball park ~20 year lifespan, with annual profit of $1.35M
6) Estimate of total lifespan profit is therefore ~$27M (around 10x current market cap)

The concern is that the 2019 projection was 12,000-16,500 carats, but H1 only achieved 4,936. So that's 41.1% of low end - and still short of breakeven.

Easy to say, but there are 1,629,001,910 shares now vs 635,190,910 back in February. There might well be profit to be made if you're a new holder, but let's not forget that the share price used to be in double figure pence.

I've averaged down to 0.37p over time, but that's still a 76% loss.

I'm not being mischievous at all. I'm just a disillusioned holder sitting on a big loss - and have seen it before.

More fundraising ahead then?

I thought this was worth mentioning because I've seen a few comments like "£1m invested is worth £3m in one year, and £3m every year after" recently.

That won't be the case. Argo's mining capacity will be 505 PH once the new hardware is online, but as hash rates (number of hashes per second) increase, Bitcoin difficulty will too.

See https://bitcoinvisuals.com/chain-hash-rate for a better explanation.

$13m investment. Coo.

http://www.lse.co.uk/ShareChat.asp?ShareTicker=ABM

It'd help justify any potential future for the business if they could be more certain about their pipeline and future profitability. Right now I expect my investment here to be completely wiped out as there's no significant order book to speak of.