Member Info for Medjed

I mean it wasn't a big discount from 1.15p to 1p

And these first two holes were within the known mineralisation? Very disappointing.

At least the placing was at a low discount, that seems to be a good sign. Although the warrants.

I still think its undervalued. Even if its only 200k oz its worth a lot more than £7m

Curious to see if our big holder sells.

I bought it on IG, its really good for US stocks.

Check out stocktwits chat board that’s the hot one for US stocks.

The borrow is crazy currently around 700% so hopefully the shorts are going to take a real beating.

I bought WSHP instead. May add some WCAP too in the morning if it reacts well. Kicking myself for not buying more in the $5 area

News this week

🔴 Very important new detail:

• Authorities clarified state losses estimate

• ~Rp38 billion (not Rp1.3 trillion headline figure)

Thats only £1.6m, big climb down by government.

🔴 Very important new detail:

• Authorities clarified state losses estimate

• ~Rp38 billion (not Rp1.3 trillion headline figure)

https://kaltengpos.jawapos.com/amp/hukum-peristiwa/2604130008/kejati-kalteng-sebut-kerugian-dugaan-korupsi-zirkon-sebanyak-rp-38-miliar-tak-sampai-triliunan?utm_source=chatgpt.com

That’s £1.6m. Massive de-escalation by the government

I'm a bit annoyed that the giants like Pfizer and J&J, worth almost 1 trillion between them, couldn't throw a tiny bit of pocket change (for them) into this company they clearly want to keep alive.

They want to keep it alive but on the edge of death lol. Weird

No RNS because as per Indonesian news only individuals have been charged so far. Hopefully this is a good thing, and apparently according to ChatGPT this is the way it usually works in Indonesia, blame individuals, not the company.

I am sure PYX's lawyers have advised them there is no need to RNS this info, as no charges have been levelled yet against PYX or PTI Mandiri.

The resolution to this, I expect, will be appointment of new PTI Mandiri director and the company may have to pay a small token fine. I think $2m has been thrown around but I can't find now where I saw that.

But unfortunately for those scared of suspensions, with only 13 working days left in April, I suspect PYX will go into suspension on LSE first, then resolve all the issues whilst suspended. Then come out of suspension at a much higher share price with license and RKAB in hand and ready to resume production. That's my guess. Could be wrong.

I'll be buying more before suspension.

By the way there was news on Friday

Yes — there actually was a meaningful update on Friday (10 April 2026) in Indonesian media. This is the first genuinely new development in a while, and it’s important.

I’ll separate it cleanly:

⸻

📰 🆕 1️⃣ Friday (10 April 2026) — real new development

A local Kalimantan outlet reported:

The PT Investasi Mandiri corruption case has been formally transferred to prosecutors (Stage II / “pelimpahan tahap II”) 

What that means in plain terms:

• Investigation phase completed

• Case file + suspects handed to:

• public prosecutor (JPU)

• Next step:

trial in corruption court (Tipikor) likely soon 

⸻

🔑 This is a significant shift:

Before:

• investigation ongoing

Now:

case moving into prosecution stage

⸻

⚖️ 2️⃣ Details confirmed in that report

• 4 suspects formally handed over:

• director of PT IM

• ESDM official

• civil servant

• company employee 

• Case relates to:

• zircon / ilmenite / rutile exports

• alleged state loss ~Rp1.3 trillion

⸻

🧠 3️⃣ What this means for the direction of the case

✔️ Positive interpretation:

• investigation phase is finished

• uncertainty about “whether charges stick” is gone

• process is now structured and predictable (court)

⸻

❗ Negative / neutral reality:

• case is NOT resolved

• it is:

moving into trial phase

👉 So:

• legal risk is still very much alive

• possibly more visible now

⸻

📡 4️⃣ Weekend / social media chatter

✔️ There are posts circulating

Mostly:

• reposts of:

• suspects

• case summary

• RKAB misuse narrative

(Example: prosecutor/social posts reiterating investigation details )

⸻

❌ But crucially:

No credible Indonesian chatter suggesting:

• licence reinstatement

• RKAB approval

• company being cleared

⸻

⚠️ 5️⃣ Why this matters for the share price

This Friday news is subtle but important.

It does NOT say:

• “good news”

• “bad news”

It says:

case has progressed to the next stage

⸻

Market interpretation possibilities:

🟢 Bullish spin (what traders might think):

• “uncertainty reduced”

• “moving forward”

• “closer to resolution”

⸻

🔴 Bearish reality:

• formal prosecution now underway

• timeline extends into court process

• regulatory caution likely remains

⸻

📊 6️⃣ Does this explain the price action?

✔️ It could partially explain it

Because:

• it’s the first real update in days

• signals progress (not stagnation)

⸻

❗ But it does NOT justify:

• aggressive rerating

• licence optimism

👉 Because:

nothing in it improves licensing position

⸻

✔️ Final answer

• ✔️ Yes — there was real news on Friday

• case moved to prosecution stage (Stage II)

• ✔️ Weekend chatter exists but:

• mostly repeats known facts

• ❌ No rumours of:

• licence return

• RKAB approval

• company being cleared

⸻

🧭 Clean takeaway

The only new development is:

the case is pro

Lol Lifeisgood.

You won’t get the sp up that way. You will have to wait for news like everyone else.

On IG can buy any amount! I just did a dummy buy of 10m no problem ;)

There is a mechanical problem with the CLNs and the share price being this low. Only a fraction of the total £5m worth of loan notes can be issued at this depressed share price.

The CLN holders can only own 29.9% of the company at any one time. With only 322m shares that's around 96m shares.

That means at current 0.2p share price (roughly) only around £0.2m of the £5m CLNs can be converted.

Sure the CLN holders could convert 29.9% then try to sell them all to convert another 29.9% but that's a losing game for them too.

Currently it would suit all parties for the share price to be much higher than now. I think it has to go up, or company is bust. They won't even generate meaningful funding from CLNs at this price to survive.

Willy88

I don’t think suspension on LSE has any bearing on license restoration. I just think it will take some time for authorities to be reassured that new management is in place in order to restore the license. It is this delay that could cause LSE suspension.

Buy quote dropped to 0.34p now. Damn I knew I should have sold last week to buy back in cheaper.

Could be wrong but I suspect now this will go into suspension on LSE until the PTI Mandiri gets new management so govt can renew their license.

Its gonna be a long hold I'm afraid.

Who's go the cahonas?

What we are seeing now is geopolitical pressure is pushing gold and stocks back down. MILA seems very resilient to this because it is already so oversold and undervalued.

Other gold stocks which have been valued at higher £ per oz in the ground are dropping significantly more.

My take: it was a bounce due to the Orange man's tweets. When the war started price dropped because of flight to cash.

When he said war is over soon at the weekend the markets recovered and PYX recovered too.

Watch what they say tonight when Trump & Starmer address the nation. If its ground invasion then expect everything to crash back down.

If its a pull out and war ends then boom times!

I should probably sell today to buy back cheaper in coming days as I suspect it will be a ground invasion unfortunately. But I'll hold on just in case. Never was good at trading, I got that hold syndrome lol, just cant sell.

I guess the market needs to see the next RC results, its not going to re-rate based on slightly improved DD results. Still cheap when its a probable 200k+ MRE

Here is what ChatGPT pro thinks based on these latests results , i have been feeding it all the previous assays too and the old EMX data.

My current probability-weighted view is:

North only: roughly 150–210 koz as the most defensible band.

If Central Ridge is included in a meaningful way: roughly 170–230 koz.

A number above ~250 koz is possible, but it probably needs the completed RC programme to show good shallow continuity and strike growth, not just the DD reinterpretation.

That range is my inference from the geometry and drill tenor, not something the company has published.

So, net-net: the latest DD results do improve the picture slightly, because they make the deep system look more coherent than the February wording implied. But the reason the market did not care much is straightforward: the real catalyst has shifted to the pending RC assays and, after that, whether Mila can show enough shallow continuity to move credibly toward an MRE.

I didn’t listen to my ow advice lol, to sell before April. I guess at £400k mcap it cant go much lower.

Lets see what happens now, they cant raise below nominal. Will they pull a rabbit out of the hat last minute? Or get institutional funding? Or will it be re-structuring to lower nominal sp so they can do a placing?

I don’t want to turn this into a JAN vs MILA debate. I have a little bit in JAN too but mostly in MILA.

I think both are undervalued right now but JAN is valued 2x MILA

My worry for JAN is

- Paranaita first set of assays poor

- 51% option not taken - shows doubt

- remaining results not published

- shallow large area deposit much more costly to MRE as more shallow drills needed than a narrower deep deposit

- they may need to re establish the 210k of CBBR first, it may not turn out to be any higher

- Molly already has a JROC MRE 130k oz, can it be meaningfully expanded?

- looks like a tight good quality deposit, but we saw what happened with OMI, high quality deposit but very concentrated and turned out to be only 200k oz

Worried Molly could be the same.

I have lots of worries about MILA too but at only £6.7m even if its just 200k oz that is too cheap, it will go to £20m mcap at least

From January AGM they have the authority to raise 1.6b new shares, so it will be easy to extend cash runway.

At 0.2p they could raise £3.2m that's 5x current mcap.

Chatgpt analysis (for what its worth) of latest media reports in March:

Is the case shifting toward individuals vs the company?

✔️ There are clear signals pointing toward individual liability

From Indonesian reporting:

• Named suspects include:

• Director of PT Investasi Mandiri

• ESDM government officials

• individual employees 

• Allegations focus on:

• misuse of RKAB approvals

• bribery / facilitation

• actions by specific individuals

👉 This is typical framing in Indonesian corruption cases:

Individuals are charged, not the corporate entity itself

⸻

🧠 Key structural point

In Indonesia:

• Criminal corruption charges are usually brought against:

• people (directors, officials)

• Not:

• the company as a legal entity (in most cases)

⸻

⚠️ 3️⃣ BUT — this does NOT mean the company is “clear”

This is where nuance matters.

Even though:

✔️ Legal liability → individuals

❗ Regulatory consequences → still affect company

Because:

• RKAB misuse is tied to the company’s operations

• The company’s licence was used in the alleged scheme

👉 So regulators will still ask:

“Can this company be trusted to operate again?”

⸻

🔍 4️⃣ What recent news does confirm about direction of case

From latest updates (March 2026 and ongoing coverage):

• Investigation is:

• still active

• still expanding

• Authorities are:

• gathering evidence

• preparing prosecution files

• Additional parties are being examined



⸻

🔴 Importantly:

There is no indication of:

• charges being dropped

• case being downgraded

• company being formally cleared

⸻

🧠 5️⃣ Interpretation (this is the key insight)

The trajectory looks like:

✔️ Individual prosecution path:

• director

• officials

• employees

⚠️ Parallel regulatory scrutiny:

• company operations

• licence usage

• compliance failures

⸻

🔑 6️⃣ Why lack of director change matters a lot

This is probably the most important practical takeaway:

👉 In Indonesia, when companies want licences restored:

They typically:

• replace implicated directors

• install new management

• demonstrate compliance reset

⸻

PYX / PT IM has NOT done this (yet)

👉 That suggests:

The “remediation phase” has not started visibly

Which may delay:

• RKAB

• IUP renewal