Member Info for Metalhead25

Was it generally known/appreciated that Atome’s “carry” shares were going to be of a different type to, and subordinate to, the investor shares and that the carry would only have value if and when the investors have doubled their money or achieved a 15% IRR? I don’t think I knew that

Looks good, very encouraging to see money raised at a 50% premium

Luckily, pj, the whole operation has been subjected to DFS level scrutiny

These competitive comparisons with SVML aren’t helping anyone (full disclosure, I hold both). They are significantly different projects. Get ChatGPT to compare them; it will tell you they’re both great in their own way. (Don’t post ChatGPT analysis on here; nobody wants that and we can all do it ourselves if we want to)

Mavern, absolutely correct. In fact, Mike has told us within the last few weeks that they have lots of serious interest for financing and it’s a question of choosing the best. It’s coming

The IRR is very good for a tier 1 multi-decade project of global significance. And just wait till they add in the heavy rare earths!

Superb results out today. Production up, costs down, sulphide project on time and on budget. Great

Don’t mind the raise as such, as these things have to be done from time to time and it may even be another pre-requisite of the financing package that we are better capitalised.

The discount is bad but possibly the quid pro quo for not issuing 1 for 1 investor warrants. Probably in the long term that is a good trade off for us.

The only thing that annoys me is that this should have been done a few weeks ago. But maybe that’s coloured by hindsight.

I will say that if we’re in production in H2 this should be a distant memory and largely irrelevant

It’s a good update. Clearly we’re not quite there yet but we are getting there and we have lots to look forward to imminently including:

- new HMS offtake arrangements

- possible HMS JV

- 2A award

- dismissal of Hebei challenge

- deal on Aftan

Once these start to land the company will be totally different

Some striking headline grades but am struggling a bit to interpret the distinction between total copper and acid soluble copper. Does this mean that if a section of rock has 6% TCu and 1% AsCu then Jubilee is going to process it, obtain the 1% copper, and the 5% ends up on the waste pile?

Clearly good news. This is almost certainly a precursor to the finance being concluded (you could hardly conclude the finance with this still pending could you). Ditto the recent mining licence approval. Once all these prior matters are attended to, the finance will be concluded. Perhaps this was the final one, perhaps not - we’ll see. But progress is good

Quite likely the question is: can the DFC move fast enough? If yes, can close P1+2 funding altogether. If not, need to use someone else for P1

Extraordinary results. Imagine in any other mining sector (other than graphite) if a company produced a DFS with 96% IRR based on two deposit areas, and then drilled a third and fourth and the fourth came back the best of the lot. Market should be going nuts

It’s a difficult one, in that clearly it’s not in the interests of the company to wait for a low point in the SP and then raise at a discount to that, and yes it’s tempting to infer that the motivation is to look after major investors; on the other hand, these events have produced an incredible opportunity which we PIs can also take advantage of (and I have). Anyone buying below 7p is going to be up 40+ per cent on their purchase when this inevitably goes back up to 10p

It’s not a small discount. Two weeks ago the share price was 9.5p. It’s a 42% discount to that. Not very good

They didn’t say 100% by end of Feb, obviously

Slogg, absolutely right. The whole point about Villeta (and the Atome pipeline) is that it’s economically viable without green subsidies and incentives. If the latter are available and improve the economics further that’s a bonus. But the economics on the basis of which the equity and debt funders have agreed to come in are not dependent on them at all. That’s my understanding anyway

SVML is a very different company to Blencowe. It’s primarily a rutile project; the other bits are value adds. I actually like it quite a bit. But on the graphite side it doesn’t come anywhere close to Blencowe

The SVML RNS is quite eye catching but is it really that much of a leap forward? The “offtaker” they have signed up is not an end user but rather a marketer. So really they could equally have presented it as engaging a marketing consultant or similar

I bought £14k this morning, not yet showing. Although the wait has been frustrating, this is a very well run company with extremely valuable projects and the current SP/market cap come nowhere close to reflecting it. The funding and offtake partnerships are indicative of a much bigger company