Member Info for Orange88

Not with £9m cash burn in 4 months! They’ll be raising money again by March at this rate...

@Tweet2, how do you know how much setup cost? My statement still stands; we need more visibility on revenues, direct costs, operating costs & overheads before we can really assess the potential here. For example, how many packages do they need to sell to cover there running costs?

The growth in packages sold & revenue is fantastic, but the cash burn appears massive? Raised £25m before expenses on 3rd Aug so prob £24m net? At 30 Nov had cash of £15m, so £9m burned in 4 months... Need more transparency on gross margins and overheads before we can really ascertain if this growth is sustainable... All that being said, the SP should rise given it’s well below cash at last nights close

Cruising back up now, this is a keeper for sure.

@Uinsionn, those volume stats are unbelievable! Out of interest, where did you get the data from? Pumped or dumped has the best info I’ve come across but only goes back 60 days. Another point of interest that I didn’t mention is the relationship between Centerra Gold & Osisko Gold. Would Osisko have taken an 18%+ holding if there wasn’t already a JV with Centerra? If Eriss discover anything of interest in either Ireland or Sweden, there shouldn’t be a problem with funding its development and unlocking value for Erris shareholders. For example, here is a very recent example of Osisko Gold investing $20m in a project in 1.8m Oz gold project in return for a 1.75% royalty.. http://osiskogr.com/en/osisko-acquires-additional-gold-royalty-on-barkervilles-cariboo-gold-project-in-canada/ Clearly we need to prove up the resource potential in Ireland or discover something of note in Sweden, but the relationships with Centerra & Osisko are unique and this should be reflected in the share price once enough investors become aware of these fundamental facts

To summarise the reasons I believe this is an interesting investment case; We had a cash balance of €2.59m at 26 September, so no funding worries. Have a JV with Centerra Gold in Sweden where they elected to spend $1.85m in 2018, this offers huge upside potential. Abbeytown is progressing well, LME Zinc stock levels have fallen from near 1m tonnes 5 years ago to just over 100k, so a price rise seems inevitable soon - see bottom chart here ; http://www.kitcometals.com/charts/zinc_historical_large.html Free float is tiny, so this will be impossible to buy if/when good news arrives. A very strong board, recently strengthened by a new CEO who I’m sure will want to make an impression. IPO’d at 25p, a market cap of £7.75m, cash of £3.5m, so EV of £4.25m. Current mid price of 8.25p gives a market cap of £2.56m, cash of approx £2m, so now has an EV of £0.56k Given that the story hasn’t changed (and has in fact considerably improved in the case of Abbeytown), where has the £3.75m of EV gone? Finally, this past week had by far the highest volume since IPO as PI’s discovered this story and realised the disconnect in share price, it’ll be very interesting to watch the share price movement between now and Christmas...

There is undoubtedly huge potential from the current price level. Abbeytown has progressed very well so far, and the share price decline appears to have been caused by a sheer lack of PR. The gold projects in Sweden are fully funded so in theory should provide only upside potential. The real value in Sweden is the Strategic Alliance with Centerra, an RNS confirming their 2019 work plan and comitted spend should arrive soon, as a reminder this was $1.85m for 2018. Any other small cap signing a deal of this nature would rocket, the fact it currently has no value in the Eris SP is baffling! “Work to 30 June 2018 included magnetic surveys, surface sampling, mapping, and ground-truthing at Klippen, Karingberget and Brannberg, Gunnarbacken, and Storklinten. Prospecting and mapping took place at Orrtrasket and Skarvsj. Drilling programmes were completed at Klippen, Karingberget and Brannberg.” Whilst Klippen wasn’t successful, there are two sets of drill results well overdue from Karingberget & Brännberg, as well as updates on initial work at Gunnarbacken, Storklinten, Orrtrasket & Skarvsj. If any one of these 6 areas finds something commercial it will be transformational.

Was just going to post the same Maestro, it feels as though any price recovery without news is classified as a pump and dump these days... Fact is, this company was completely under the radar and now has a little interest, the market cap is out of sync with the progress made and so there is good value to be found, hence the increase in volume and price!

I’ve never seen a share as volatile as this one, any sustained buying pressure and it’ll move like a rocket...

When this share gets on a run it can move really quickly - I think we should take out the 14.35 recent high on that news...

http://www.valuethemarkets.com/index.php/2018/04/09/next-12-months-going-active-new-stratex-boss-tim-livesey-will-turn-company-around/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork Is an interesting intro for anyone wanting a quick summary of the new board & assets. Also, reading the old Stratex thread I came across this post from 22nd August; “Lots of rumours circulating there is a naked short position here, before anyone pounces saying AIM stocks cannot be shorted, yes they can. Probably explains the toxic Stratex bulletin boards and the abject failure of the bashers to accept the company is basically new, new BOD, new project, new ideas, as for the BOD being friends of XYZ, that is laughable. It shows how desperate the bears seem to be getting. The question is how large is the short position (assuming there is one) and how will they close out?“ Probably completely irrelevant, but given the SP behaviour today, and certainly this morning, it could be true... keeping the SP as low as possible so the short could close. Then releasing the SP once finished, as happened in the last hour. We’ll know more tomorrow morning!

Wow, completely agree with the only live once sentiment - I think it’s what brings most of us here. I’ve got a little more than 10% of your holding but don’t see why this can’t reach £10m market cap over the coming weeks... The last hour was a really nice recovery from day lows - only 3 sells and the SP rose 17%. Hopefully we can continue this tomorrow morning, if we can break 0.62 resistance we could take off.

Think the reason this hasn’t moved higher today is the high free float - only 9% of shares are held by directors or instis. Still, getting on for 30% of the company traded today & some huge buys, think this will re-rate over the next few weeks to account for the potential these grades have created... today has churned many PI’s who took an opportunity to take profit or reduced losses... this was over 0.6 until a few weeks ago so that should be the first target.

This is the danger when directors hold no shares... PI’s are sacrificial lambs :(

If the funds are used for positive reasons as proposed, the next raise should be at a premium...

Typical post of someone who has done no research. The company has cleared out the old management and brought a new team in from July, performance is on the up and the cash was required to replace the postponed second tranche of the July placing. Revenues for 2018 should be around 500k, which is significantly more than many AIM pharma companies. The H2 results are eagerly awaited to see how EBITDA has improved in the second half.

I just can’t understand why they did an £8m fundraise and then mention a potential debt facility of £1m, say they had no intention of using it, but then decide to use it a matter of weeks later. Also the terms of the debt funding are awful, £70k just to activate the facility from memory & high interest rates. Why not just raise the extra million via equity instead of debt funding? Was the initial plan to acquire BB for a lower amount and retain more of the raise for Working Capital? Either way, drawing down so soon after stating they had no intention of using it was a mistake, and I think this fall has resulted from the uncertainty created. How much cash do LVCG actually have in the bank right now?

Wilfred, why don’t you read or research rather than expecting someone else to explain something to you?

It took 2.5 trading days to get from 1p 32p. Day 1 we had the Merck news which resulted in a rise from 1p to 4p, day 2 saw us go from 4 to 10p, then up to 1pm saw the crazy spike from 10p to 32p, before it fell back to around 17p by close. Crazy times.

Couldn’t resist taking 100k at 4.6, last year was unbelievable and every rise since has paled into insignificance compared to that 3 day epic!