Member Info for Simms45

I agree. I am sure Ethiopian government might have withheld ratification until AFC committed to investment. This RNS made this visible to the Ethiopian government and other investors waiting in the wings so hopefully ratification is imminent. Amazed we languish at .56 as while we are seeing chunky buying there does seem to be someone still holding up proceedings. We can thank Harry for all his great placings into the arms of weak hands. The end is in sight and hopefully see other side of 1p very soon and then 2p shortly afterwards.

What are estimates of FCF for Q1? While we will not have got $3k an ounce we should generate FCF of $30-$35m if we achieve 21k ounces? Is that in the ballpark of what is expected? Be interested to get news that La India and Abra drilling is making progress as i understand that is going on in the background. Certainly makes the current market cap seem on the low size.

Good to see the 2m/3m and 5m buy orders starting to pile up today. Feels like a lot more investor interest and less sellers. a coiled spring comes to mind as when the slack is taken up i can see this heading for a penny very quickly. .6 seems almost ready this week. Gla as its about to get exciting!

Certainly feels that .6 is now in sight. Maybe some straggler overhang from last placing but cant imagine anyone selling in lead up to further announcements as it all seems to be in motion. Too many bonuses and fees at stake and would hardly be compensating locals if things were not happening. Not only crazy we will own 80% of a $500m mining operation but Saudi stake sale imminent. We should also be owed a chunk of change once we draw down and Kefi can start billing the subsidiary. Certainly £250m seems a first port valuation once dust settles and towards first pour its anyones guess.

Great to see decent buyinh volume today for 1m+ blocks. Things are going to hot towards detailed doc signing eom. Gla but does feel like the brakes are off and we should steadily rise each day.

Erm, we have $240m borrowing all agreed and ready for drawdown? Seems great news to me as investors now have everything they need to know followon debt is legally agreed. This was probably an rns for those investors. Happy with every RNS that leads up to equity investors, which as we know is minimal as we are going mostly for debt to get nine built. Gla and its certainly good news!

I have been monitoring approximate churn of what looks to be single seller who over last 30 days have sold more than £1m of Metals. You will see a large number of buys that are pis with a smattering of high value sells that are between £10-£30k at a time. i estimate this has held back the shares from advancing around 20% so i hope once they finally exit the shares can quickly make up the lost ground. I presume an ex condor shareholder in all likelihood but not many would be holding this sort of amount except one of the bigger investors.

I completely agree. Also as soon as Metals moves to a dividend, perhaps as early as 2028 we have a yield which can be a bigger catalyst to help close the value gap. Comparisons to any other miner can assist but does not tell the whole story. Our AISC is $1k so even if gold drammatically dropped we are in good order. Also our 12 year minimum lom is fantastic. Throw in a great management with credible pathway, according to our CEO, of reaching $2bn valuation you have to take him seriously as to date he has done what he said he would do. This was when gold was $2800 so if we stay above $3k this is conservative. At the end of the day if we are throwing off a 3p dividend ( not unlikely and actually easily covered) by 2028 30p shareprice is not likely outcome for a 10% yield. you can imagine dividend could be bigger and yield of 5-7% more likely so give a far higher share price. Dividend is key to maximise market cap as a big contingent of investors chase dividend compounding.

If Nic goes into production Q2/3 2026 and full production by Q3/4 then off 145,000 ounces of gold we should get around $290m in annual profit at $3k gold given AISC of $1k. Even on a low PE of 5 that should give conservative valuation just for La India of $1bn. If Philippines gets properly extended, as looks very likely, you can double that valuation so i can see where Metals are getting $2bn valuation by 2028. That is a 10x todays valuation and makes Metals look very cheap. Still some risk but the difference with Darren and team is they are conservative and like to exceed expectations so there are some big step ups in the coming year. gla

Metals has a few long term Condor holders selling down holding. You can spot the sales as consistently every day for certain amounts. Just got to churn these holders and then we will quickly step up. We are just in the indigestion stage but will soon get over and hope those sellers dont accidentally see the share price in 12 months :)

Not dissimiar distance from London to Ukraine lol. Its a non event. Someone is loading up as retification is possibly days away and detailed docs are finished by end of month. Crazy valuation given we are 6 weeks from transformafional news and at minimum collecting our $100m sweat equity, which alone is 2-3x current market cap. If all goes to plan 10x this year is easily achievable.

Wow. We got $60m of mining kit for $10m and 60% of plant will be completed by eoy. darren stated we will be operating from Q3 2026 and fully operational in Q4 at 145k ounces a year. His talk on Dupax is very bullish and sounds like 3 different possiblr opportunites being looked into alongside 50k of drilling that is about to start in Nic asap and will be done in 6 months. Does not mess around. Very impressive and he says £1bn company 2028 so from current £160m we have a 6x opportunity in barely 3 years. He stated $2800 gold but looks we are looking beyond $3k gold so could be heading to £1bn a lot sooner. Excellent uodate!

Do we know when we might get Abra drilling update as that was Q1 starting and not sure how long it would take but could be very positive based on geophysics? While we still have some old guard exiting and holding price back i guess enjoy the anomaly on the low value shares. Do we know what the likely gold sales and free cashflow will be for Q1 as we are at record gold prices?

Eqtec are legally obliged to release any updates that fundamentally differ from their last interims and any major change such a project not proceeding. Since there has been no update you can assume dates and projects since interims are in motion. Northfork in hot commissioning. Hawaii got its finance and we are awaiting contract unless its just work already discussed in interims then not news. While i would like news i also want the board focused on closing deals and pandering to investors with an RNS that can take weeks to get all parties to sign off for me is fine when we have resource but i just want focus on delivering results. If its every 3 months thats fine with me and we can rely on 3rd parties for updates like Greg Stangl of Simonpietri and so on. I think a trading update will happen in March some time as plenty of small projects have moved forward and combined hopefully a decent upward movement in confidence.

It is all now down to execution of the plan and if they can create a sustainable revenue model. Programmatic sounds the way to go but i guess the devil is in the detail of how easy brands can go to market quickly. Brands when they decide to spend usually want to move quickly and i suspect the issues last year might simply have been a number of factors working against it but you are right to think that the same brands could be poised to give Mirriad a spin now things might be more streamlined and additional mesasurement. So many AIM stocks continually overpromise and underdeliver but now Mirriad has probably frozen itself out of the placing game with their current market cap the pressure internally must be strong to make something stick. Sometimes it is times like this when Mirriad might burn the midnight oil and go the extra distance to make sure they close the deals. Certainly hope so. Now just waiting on real traction to prove the management team can execute as the next fund raise will start to raise its head and with that valuable time of the management not working on closing deals.

One step further to cashing in our $100m sweat equity as part of our 80% ownership of a $320m+ gold mine. Dont lose sight of the big picture as there is limited dilution given we have access to debt and maybe a BIG exit on Saudi. And Kefi valued today only at £30m. Big moves ahead!

Fantasy your names tells us everything we need to know about you, lol! Todays news is key as it removes another key process that was not in our control and again confirms that we are getting closer to financial closure. Feels like a 10x is the air for those smart enough to get in now.

Apart a bid having no chance of success. Even 100% premium to todays price would cut no mustard and bidders tend to not go much higher as they can substantiate it to their investors. There is an argument that if SA is worth $30m and the whole of Kefi is not worth much more and we have $100m equity in Ethiopia that why jjust buy Saudi and just buy Kefi and crack on. I think Harry would kick into touch but never say never. I think we just need to wait for financial closure, hopefully this month or we get the key ingredients to make that happen ana then we can book the $100m onto our balance sheet. We can then look to access debt markets with a stronger balance sheet and grow the market cap.

Rembrand are interesting but i can see the difference. They focus more on live placement and the content is more identifiable as a product placement, almost an advert within the content. Its a bit more distracting and possibly more annoying for users and could undermine the original content being shown. Mirriad focus on integrating product placement at a post production level and a bit more considered so first gets sign off from everyone invovled. Mirriadn main offering seems to be less catering to live placement but is this where the programmatic solution is aiming to fill? For me the most exciting space is one that allows fast exposure to a brand that takes minutes and not months adn one that would include high cost. Totally great to secure big deals but they have been few and far between and last year a few fell through. I am really looking for a backbone solution that will tick over in the background. I can potentially see how Rembrand and Mirriad comes together as they do a similar thing but different. Thoughts?

Thanks. Certainly the content Mirriad would place products would be far less problematic for brands that online that is largely unknown. Brands take a huge gamble with online advertising as they dont know what content they might be sitting alongside. Feels that Mirriad being early to this space are educating the market. Will just take Amazon/Prime or Google/youtube to come along and completely simplify the whole process so its as simple as brands spraying ads around the web. Who would you say is our closest competitor?