Member Info for Metalhead25

The progress in 2025 is not as dramatic as the company targeted but it is still good progress. An annualised production rate of over 5500 oz at an all in cost below $2000, with all the potential that exists in the assets, should command a much higher market cap and share price

“The financing package is scheduled to go before IFC's board on September 30.”

That would seem to mean no FID until October at best?

Nope, I’m not aware of that. I am, in fact, aware that it’s not true, since they RNS’d the opposite 17 days ago.

I also am not banking on DFS completion in 2 months, it looks a little optimistic to me. My guess is September.

@Tellodome: “Mike has said that the DFS will be broken up into 3 phases.”

Yes but he has also said that although they are notionally separate they all come together as one. And I don’t think he has said that when he refers to the DFS being done in a couple of months he only means one of the notional parts.

Also, where are you getting this thing about 20% of the drilling being done? Re-read the “drilling nears completion” RNS.

The conclusions I have reached from this conversation are:

(1) You don’t have any factual basis for the statement that only an “initial production” DFS is coming in 2 months.

(2) Almost certainly you have sold into this mini-rise and now would like the SP to come down for your re-entry.

Jeez, it’s like talking to Legalwolf Mark 1.

Tellodome, that’s a very argumentative answer. I wasn’t trying to have an argument with you about timescales, I just asked where you are getting the proposition that the DFS which is 2 months away is only for the initial operation. You haven’t answered that at all, you’ve just asserted it again. My question is this and only this: where are you getting that information from?

Tellodome, where are you getting the notion that a DFS in respect of the small scale initial operation is being completed separately and first, and that this is what Mike is expecting within a couple of months?

I can see that could be a possible approach, but I just don’t recall seeing/hearing it anywhere?

I can’t see the earn in terms, am I being stupid?

I’m not going to dignify that with a response.

Legalwolf, you know perfectly well what you did and it had nothing to do with the merits of your one or two substantive points.

You poisoned this board for months on end with hundreds of comments, cynically designed to maintain an atmosphere of negativity and concern among the PI shareholder base. You took the shine off every bit of good news. You jumped on every bit of doubt. You were the most frequent poster, despite not being a holder. You refused to stop, despite being asked to. You destroyed this BB as a venue for genuine discussion. It was all about your campaign for your lower entry.

It makes no difference to the above that there was indeed a placing. That’s par for the course in pre-production miners and was never the issue. The issue is you’re an awful person.

The fact that you’ve now switched sides does not change my view on that. On the contrary, it reinforces it.

Except for the detailed confirmations in the same RNS that it is going to plan.

“Peter Levine, the Chairman, has additionally subscribed for a further 727,660 ordinary shares at the premium Issue Price of 50 pence.”

This bit may be a cash subscription?

Well, they’re not out of cash - they agreed a 5m advance from Hy24. And they’re still targeting FID for early mid summer

Https://x.com/metalhead2525/status/1921475445800697882?s=46&t=Jne_cUYLxmaxpafySDDQ2A

Chance of a big week coming up!

Short thread on X, comments welcome.

https://x.com/metalhead2525/status/1921472273032057197?s=46&t=Jne_cUYLxmaxpafySDDQ2A

I’m pretty sure chromo is right. The project will be held by an SPV - let’s call it Villeta Ltd. The “carry” which Atome gets is 20% of Villeta Ltd. The equity club get the other 80%. The rest of the project funding comes from debt raised by Villeta Ltd, not Atome. The carry is a “free carry” in that the equity club and debt funders between them provide enough money to take Villeta Ltd to project completion, thus Atome don’t have to contribute any (more) cash at any point.

The thing I don’t know, but am very interested to know, is whether during the project construction phase Villeta Ltd pays Atome a management fee for managing the project. I think the answer is very likely to be “yes”, and some announcements have implied it is “yes”, but I don’t think we have any details.

Can’t be running out of cash - just had a raise and costs are low

Badster, it’s obviously good news but steady on, it doesn’t “give us the cash” to do anything. We have always been told we were clearly owed this money, indeed we were never told of any actual dispute about that (as far as I recall). Now we have confirmation that we are indeed owed the money. But the task that remains - getting the money - is the one that has been the main issue all along

You were v positive until today and now suddenly 100% negative. Almost always means sold

Are today’s sells yours then?

That seems surprising: most of the RNSs about it were in 2024