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Utter madness and misuse of shareholder funds. Now we have a big seller as well

Management have definitely sunk to new lows with the pivot to the bitcoin treasury nonsense

The company has completely failed with its gold projects so it's a highly cynical move to pivot to the latest market fad.

BMV will be left with a royalty in a small project with a long wait until production if it ever comes.

The company will clearly now try and get a fundraise away and I'd be surprised if it doesn't end in tears, especially given the track record of the company's management

The far slower than expected ramp up must be very costly and increasing the cash burn. Towards the end of last year the company stated

'· On track to start phased production in Q4 2024 and ramp up to full capacity by mid-2025 '. Now they are only expecting to have 4 out of 8 kilns up and running by the end of the year

Awful update. Revenue in first 5 months of this year is below that of last year. Cost cutting should have been done a lot sooner to preserve cash but it will also

make it far harder for the company to achieve any revenue growth

I think negotiations will centre around the total of 116,000 oz over seven years that Batangas is looking to produce as per the feasibility study. The JORC resource of 440k oz is for the wider area but they are not currently looking to bring that into production

86.5metres @ 1.36g/t from 22m near surface is a fantastic result for the company

The RNS mentions current 75% interest but the JV agreement will see this fall to 40% once the feasibility study is completed. This will likely be further diluted if the mine receives funding

All these projects are moving at a snail's pace. At Batangas the JV partner now has up yo 2 years to lodge a feasibility study.

Even if this is accelerated it's still a long way from a mine being built and production.

The projects in Korea meanwhile haven't progressed at all as the company still awaits the MTUP decision after 3 years of trying to get it

Key point from annual report: "uncertainties exist around the successful ramp-up of the production at the Group's and Company's Gravelotte project to allow consistent production and sales and required funding from a capital raise during the coming months and across the forecast period. Given the sensitivity to immediate fundraising and operational profits, material uncertainties exist in respect of the Group and Company's ability to secure a successful fundraise and sustain current operations as sufficient liquidity does not exist to fund operational activities without the generation of operational turnover."

People that took the placing will be desperate to sell the shares and keep the warrants.

Wait at least a few days before buying and the share price should drop well below the placing price

Shockingly low prices. I can't see how they can continue mining much longer as I doubt the company will be able to get a placing away

I just checked the reviews of Titanic VR and they are pretty disappointing so far.

I can't see a great deal of sales being achieved unless the app is significantly improved as people that have the old PC VR version from several years ago don't seem impressed with the Meta Quest version that has just been released so I'm not holding out much hope of any material revenue for EXR

Titanic VR is quite a niche product so I think it will take a while to get anything like $1million in gross sales. Also bear in mind the Meta Horizon platform deducts 47.5% as a fee so $7.87 per sale to EXR (less any included sales tax)

It's NT to buy now so looking set for further upside 👍

As at 31 December 2024 REE had debt outstanding of £980,000 at a 12% interest rate and due for repayment in October 2025.

Cash at the end of last year was £156,000 but the cashburn works out at £145,000 per month so projecting that forward there has been around £500,000 of cashburn to mid April. Looks like it's running on fumes

I thought you filtered me 😂

I know you love companies that have diluted shareholders to oblivion 😉

Anyway let's keep this discussion to REE.

I've only just started researching the company so please could you confirm the debt position

and how much cash the company is likely to have at present?

There are 163million shares in issue and over 300million warrants outstanding. I don't think I recall seeing another company with such a large amount of warrants as a percentage of shares in issue. This will be a very large overhang even with just the 67.5million warrants at 1p

I just had a look at the prospectus and there's over 300million warrants outstanding with 67.5million at 1p and 135million at 1.5p. This seems excessively large considering the current amount of shares in issue.

BZT is offering a similar opportunity for a re rate like UFO. It has shares in an Blackstone Minerals, an Australian company, that are currently worth £6.1,million which is around double the BZT market capitalization. BZT also has its own big copper project and is cashed up after a recent placing. The share price is sitting at an alk time low so there should be a big re rate with copper and gold prices at all time highs

I make it £6.1million for BZT's shares plus extra for the 0.06AUD options that are now in the money