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How much will it cost was answered in the 7th September PEA...

· "US$336.5m initial construction capital cost"

Compare that to the current £24m market cap and I can't see any reason to be holding these shares at present...

Kudos for spotting that the HSBC screenshot has snapped the 'enterprise plaza' of LINK... even if we don't get the launch RNS we could get another launch partner announcement if they are going to use the festival to formally launch their metaverse entry?

Either way as you say it's very very positive to see them so excited about it, that can only be a good thing...

I'd echo GK's advice of doing your own research here, IMO it's the best risk reward opportunity on AIM / LSE, but for anyone new, take the numbers in the PFS and compare them to the current market cap & then benchmark them against other companies that are a a year to 18 months ahead of us - i.e. Core Lithium, Sigma etc. The valuation gap is massive.

Whether of not the Piedmont deal includes Ivory Coast assets or not is irrelevant to the overall valuation (it doesn't as far as I'm aware, it's just the Ghanian 'cape coast' licenses).

Pleasing to see a big buyer in the market today, as per usual it appears they are being supplied by DGR selling, however this status quo won't last forever, and when the DGR overhang runs out then it's re-rate time.

They had to raise the bid all the way to 50.65p to get a bite this time, all the while maintaining an ask of 50.76p and an advertised spread of 50-52p. They are having to work hard to get shares...

Exactly Goldrush, I almost couldn't be bothered to reply to it as it was that stupid.

There are dozens of AIM exploration companies that have resources which on paper are worth multiples of their market cap, the fundamental problem time after time is raising CAPEX to take any project into production without kneecapping existing investors in the process.

The ones that do manage it invariably lose control of the resource (GGP) or take on debt at hideous terms (HZM), however the majority never manage to raise at anything at all.

ALL retained control of the asset, have ZERO debt and are advancing to production an asset with an IRR of 224% at $1359 Spod. It is almost unparalleled on AIM.

They have 50% offtake remaining to leverage towards additional CAPEX requirements, I'd like to see them sell a fixed portion of this for another $50m capital injection + a long term supply agreement which has a price floor of ~$1000 spod and ceiling of $5000. This would lock in huge profitability over LoM, at the $1000 floor price we would still make $89.25m operating profit per 100kt sold (assuming $300/t operating cash cost), at $5000 Spod it would be $470m. This cash could be used to further scale production to become a regional powerhouse.

The point is that the Piedmont deal has made all of this possible, without it we'd just be another Lithium explorer with a promising resource but no path to production (like EMH, ZNWD, SAV, KOD etc etc etc).

Anyone saying otherwise needs to get their head out of their as* IMO.

Volume promising again with big buyers around the 50p level and an early dip bought up very strongly. I suspect a recovery to 70-80p is a matter of time given the low free float vs high buying interest.

"At some stage Piedmont will have to raise the financing for their US$600m Tennessee Hydroxide plant."

They got a $141m grant from the US goverment last week + have an offtake agreement with Sayona whereby they will obtain 113kt of Spod / 50% of production from the North American Lithium project at $900/t... Production is due to restart in Q1 2023, so if they sell that Spod at ~$5000/t they'll earn over $450m per annum (or even more should the Spod price stay at current levels... so I don't think they'll have any issues accessing finance or building the Tennessee plant, which has to be a major positive for ALL.

Very good director buys, although the share price action that followed mirrored exactly what has happened all day, 3 attempted breakouts from 50p all shut down by the same spread shifting tactics from the MM's. It's like a plane stuck in a holding pattern.

10% of the company traded in 2 days pre late published trades, whatever is going on they won't be able to keep it down here forever. Suspect we get off to a fast start on Monday once a few more people see how far this has fallen + the big buying.

Really positive stats, thanks for sharing. I also liked this bit;

“While many companies remain hesitant to adopt some of these emerging technologies in their infancy, 2024 looks poised to be an inflection point for new technology acceptance. And after five years, it will be the rare company that has not invested in every one of these tools that—while are still in the early days—look poised to reshape the business world,” Henninger added.

The Rogers Innnovation Curve is quite a useful visual tool of where we currently sit; https://www.researchgate.net/figure/Rogers-adoption-innovation-curve-Adapted-from-Rogers-E-2003-The-Diffusion-of_fig4_317061409

I think the pandemic + technological development has pushed XR out of the sphere of 'innovators' and we are currently in the lower half of 'early adopters'. By 2024 we'll be moving into the early majority which will last a year or two before the late majority join in the second half of the decade. There will always be laggards that don't want to accept change, however that is the same for almost every product (e.g. smartphones).

EXR is the only UK listed company that I'm aware of which allows investors to get exposure to what will surely be a decade long megatrend. It should be a fascinating ride from here on in...

MickR, I'm well aware of the games that are played with advertised spread vs reality, the problem is that a lot of PI's see trades marked in red and assume they are sells. False spreads in quote driven shares are usually holding tactics, my guess is someone wants in at 50p and they don't want PI's getting their hands on too many shares or driving the price up. Agree that director buying is what we need and will be the catalyst for a swift move back up.

Getting a lot closer that's for sure... question is will the play the same trick as this morning by raising the bid/ask and then letting buys go through as sells to kill the momentum? It's being held around this level until the seller finishes, depending on which II it is, that could be today or next week, it's always a guessing game until you get a TR1 and a clear move in price!

Another impressive use case being marketed by VictoryXR;

https://www.linkedin.com/feed/update/urn:li:activity:6991425394524532736/

"For nursing schools and medical training: we are happy to introduce our emergency room training facility on the VictoryXR Academy Campus. Accessible for all VictoryXR metaversity campuses! Learn more about metaversities here: https://lnkd.in/gDPxA9-q And, of course, displayed on the amazing ENGAGE XR platform."

Strange trading the last half hour, there are sellers but why hold a false spread so that all the buys at 53p show as sells? If you want to clear a seller surely you want to attract more buying, not put people off? Smoke and mirrors as always...

The seller is clearly still there as you can buy at 53p bid but is slowly being cleared by 25k block buying. Volume is very good again though which is the most important thing, I suspect this will bounce well once the seller is cleared but it was certainly squeaky bum time at 4.15 yesterday when they dropped the spread to 43-44, got bought up in a flash but shows that you have to be careful with position sizing in this type of situation...

My take is slightly different. I think Meta have done the industry a huge favour by effectively sacrificing their short term share price performance to pioneer widespread adoption of XR. Their share price crash is creating waves around the world and making people discuss the metaverse, raising awareness immeasurably. They have $40b cash on their balance sheet, $100b of property & plant & still made $4.5b income in Q3 even with a $3b investment in reality labs. They are cash rich and getting richer, but their market cap is under pressure due to the short term fall in EPS. Anyone that says Meta should go back to focusing on making Facebook great again is trolling in my view, they had to pivot to something innovative or they would have slowly died / become irrelevant.

The XR industry overall is thriving, it’s the natural next step from the current version of the internet and enterprise has been given an unimaginable tailwind by the pandemic via working from home.

Engage are doing everything right as far as I can see, hence why they have over 180 enterprise customers & the likes of KPMG, Lenovo & St James Place are using our software.

What’s the chance of Meta using some of its $40b cash pile to buy Engage at some point over the next few years? Small but significantly higher than this time last year IMO.

Good to know and fingers crossed. The CEO bought 34482 at 290p on 29th June & a further 40485 at 247p on 4th July, if he was prepared to spend £170k at that point then I can’t imagine he’ll sit and watch with the share price 80% lower!

Nope the seller still isn't out but they must be getting a lot closer after those two bursts of buying this afternoon.

Having done some more research I'm convinced someone will step in and look to take a material stake if it stays at the current valuation - the debt isn't anything significant for a larger company to take on and you're getting ~$250m of revenue at 45% gross margins. Let's see, but I'd say with the buying interest we've seen in the last 2 hours that this is either the bottom or close to it.

Volume wise this has started to look much more interesting with block buying in the last half hour. It wouldn't surprise me if the German sellers who banked £84.7m from the sale of Eschenbach had decided to start buying their company back. Have taken a few as it won't take much buying of this nature to send the price back up to 70-80p.

From my experience of SETSqx, as long as you can buy at equal to or less than the advertised bid price then without volume the price will go lower. It's also tempting to buy at bid because it feels like you don't pay any spread, however the reality is that's usually a false economy. As for 50p being support, it's a round number but nowhere near as relevant as £1 or 9.9p vs 10p, doubt it'll make any difference unless the seller happens to stop selling...

Support level = where significant buying starts to arrive. Directors will need to lead the way here to give PI's confidence.