Member Info for panda1

The bid just moved up to 0.71p to sell

I voted 67million shares against delisting

I think the warrant accelerator may put people off from taking the offer, especially when the warrants have a short life of only 12 months. I've not seen a company have this clause before at the same level as the exercise price. Usually an accelerator clause is at a big premium like 100% above the exercise price

The reserves have just been increased by 47% so that will have a big impact on the DFS compared to the PFS

The PFS was based on the reserves proved up at that time of around 15million tonnes and didn't include the inferred resource.

Inferred resources are not included in feasibility studies but can be used in scoping studies or a PEA.

The DFS will now be based on the 23million tonnes of reserves that have been announced in today's JORC report.

The market cap is actually lower than shown on LSE as 575,242,361 shares have been issued to a broker for an At The Market Facility but the company will only use this if the share price is significantly higher and not trading at a discount to NAV.

According to the holding RNS Singh bought 3.5million shares. The previous RNS showed his holding at 30million and today's stated 33.5million shares

The TAO halving is taking place in a few weeks so the daily tokens earnt by the subnet will be cut in half

You're just making it up as you go along 😂

Where is the £1.5m admin expenses and on top of that how much are they going to spend on exploration now the funds from BCM have been spent?

I wouldn't class admin expenses of £1.5m per annum a shoestring. How will the admin expenses be funded in 2026?

I thought the company would have had a lot more cash left over from the 2 x JVs signed with BCM and all the payments from Lanstead.

It's not going to take the company long to spend what's remaining even if they manage to get the $1m bonus payment.

How much has the company spent since the JVs were signed and how will the next work programme be funded?

The final accounts are due in around a month and that's the most common time for companies to raise funds as they need to demonstrate they are funded for a certain period in order for the auditors to sign off the accounts

As well as the 20% cost of the 6 month loan extension I'm concerned we'll get hit by dilution from a fundraise shortly, especially given what was written in the RNS and the lack of update on WHM and any revenue/profit figures

So cost to extend the loan by 6 months is 20% i.e. £100,000.

With friends like those............

Last time the interest & fee was for a loan of over 12 months but this time it's only a 6 month extension. That's why I thought it was excessive. A 10% interest rate for 1 year is ok but too much for only 6 months i.e. 20% annual rate interest rate & on top of that a 10% reprifiling fee. I've seen chairman give interest free loans to their company so this one is very far from being on generous terms

I think the 20% cost to the company for a 6 month loan extension is taking the micky, especially when it's from the chairman and a 'supportive' shareholder

I don't think you have read the RNS properly. It's just a normal placing. Darren is passing on the shares to the people that took the placing as otherwise the comoany would need to issue a prospectus which is time consuming and expensive.

"CRL notes that, as of September 2025, Ammonium Paratungstate (APT, 88.5% WO₃, FOB basis) prices have risen 45% within a month to $655 per metric ton unit ("mtu"). EU/US APT prices are reported at US$535-550/mtu (+64.4% year-to-date) (as reported by Fastmarkets). The Redmoor Scoping Study (2020) was based on a tungsten price assumption of US$330/mtu. These changes reflect ongoing shifts in the global tungsten market, such as the closure of some previously subsidised Chinese operations and a growing emphasis on supply security for defence and high-technology applications."

Results not as bad as some people expected. The gold inventory has increased to $4.3m.

Hopefully, the company can now increase production after the upgrades and take advantage if the massive rise in the gold price.

Market cap is only just over £1m now. Feel sorry for existing shareholders but looks like a steal at the current share price