Member Info for Richard08

Just been crunching the numbers. We don't know the revenue/profit figures for 2025 yet, these will be released with the full end of year in March as usual I imagine. But with the cash balance at 144M euros net (minus debt) at the end of Q4, plus the fundraise of 127M (gross) I would estimate the total cash in hand at approx 271M but nearer 300M if they maintain their debt. This should be more than enough to advance their near term projects of San Dioniso with some left over for Masa Valverde and Touro. As for the annual revenue and profit figures, with 51ktons production at an average price of $5.1/lb and an AISC of $2.84/lb I estimate revenue somewhere in the region of 470M Euros with profit north of 100M. Anyone else worked this out?

Either way, I believe future development for 2026-8 should be funded from cash already in hand with no further dilution. Appreciate anyone's thoughts/calculations on this. TIA

Reasonably positive update. A sort of restrained optimism comes through but the business does seem to be doing well, if rather erratic internationally. Quite a bounce in the sp yesterday however, in anticipation of this update or a leaky ship??

Right at the very bottom:

To conclude, the UK government and devolved governments intends to pursue Option 1, which it considers a necessary and proportionate change. The UK government and devolved governments acknowledge that Option 1 – switching to CPI indexation – carries some risk to investor confidence, particularly where financing models and contractual obligations are linked to the RPI. While we note that revenues for some generators may reduce in the near term, change is expected to be modest relative to the wider benefits.

Have to agree with chromeinvestor and others, no need to go around cap in hand to banks and other lenders who would charge interest that might well lead to a loss of capital equal to 9% dilution whilst repaying the debt. This will allow board to push growth projects and invest now as they wish to do so rather than worrying about delivering extra cash flow for debt repayment. This is short term dilution/problem for a long term pay off. SP only down 2% today, market seems to approve.

Https://www.gridstatus.io/live/ercot?date=2026-01-26

Seems to be suggesting as much!

Possibility of the current storm driving revenue up for Texas over the coming week/month...?

And up again today, by quite a chunk. Not complaining mind you!

True enough Stevebt. But it appears they have less cash due to spending more on land purchases, at least the spending on 'gross land spend' is up £100m. Looks like the business is choosing to invest in it's future?

Doesn't achieve much, but they like to be associated with success stories, so all good publicity.

Short term reaction from the market is positive. I imagine it is looking forward to the pipeline, international links being made and future sales from Lodes et al coming up in 2026. The fact that we are no longer considering the mere survival of the company and are instead contemplating which continent they are going to sell their batteries into next is a huge step forward in terms of mindset.

Saba and now Bank of Montreal are in. For different motivations I imagine. Hopefully though it will encourage management to perform better, maybe led by a new board.

Interesting collaboration with google. Somewhat sparse on the detail as to what exactly they will be doing. Presumably some sort of search or online publishing facility? But who knows. More detail to come in the future, but a potentially lucrative opportunity.

Genuinely looking forward to results. No fear of surprises and possibility of more flesh on the growth plan.

Stupid question perhaps, but if you're underwater on TRIG and they convert the shares, will the amount you're under water remain? Perhaps not the same amount, but will it still be there? Giving a chance to average down in the new entity...

Thanks in advance!

We just need something positive from Reeves at the budget now. If they want to get the economy moving, housing is the place to start. We just need them to wake up and get on with it!

Absolutely. More copper produced, at a lower price than before, and sold for a higher price than last year!

Agreed Crossley, couldn’t ask for much more. The sp has been wandering up for the last few days in anticipation, I would expect a continued move up today, but as you say who knows! In the medium term though, PSN looks good.

I haven’t a clue what all that means stargaze! But I’m richer today than I was last week :)

A good RNS and a decent jump in the sp has only brought a small number of commentators to this share which appears to be largely on the periphery of the investing world. Long may it continue!

So, the OBR has told her it's going to delivering awful data and she's getting in front of that and presumably trying to raise taxes now so they can spend it over the next 2-3 years and get re-elected. People may hate Labour now but the next election is a way off and the mob is fickle... got to give it her for making the gamble and taking the hard choice here. The big question of course is where is she going for the money??

Hang onto your underwear fellow investors, Reeves is about to speak!