Member Info for SmoothOperater

I've increased my holding by 25% in the last two weeks and will continue to increase, expecting the newsflow to start at anytime.

Not long long now IMO

PMB 58 isn’t AMG-specific news. It just marks when the FCA can approve PRM prospectuses. That’s a procedural unlock, not a price claim or inside info.

FCA rule changes effective 19 Jan 2026.

https://www.fca.org.uk/publications/newsletters/primary-market-bulletin-58?utm_source=chatgpt.com

Primarily PEEL, they are recycling stock ahead of a regularity inflection point.

Bodes well for next week IMO

News could come anytime from Monday as per rules change

At the moment they are bound by the old rules, and therefore no live announcement window open.

On 19 January, material RTO disclosures become publishable without automatic suspension risk.

If there's an announcement window, it will open from the 19th January.

The irony being the company has never been in such a good position as it is currently.

Shame, so many traders/ investors got burnt in the process to get here.

I decided to increase my holding all the way down, it's been a rollercoaster ride.

I weren’t anchoring the share price to NPV.

I was rejecting the idea that this is a penny-dreadful micro-asset.

OAP is clearly using Ai, and it's replies kept slipping because they only understand “NPV = share price” or “NPV = irrelevant”, and missed the industrial finance reality in between.

NPV isn’t being used here as hyp, it’s coming from the CPR and reflects a mine plan, capex, opex, recoveries, product pricing and a 15% risk discount.

That is exactly how industrial mineral and quarry projects are valued for funding and offtake.

You can’t rationally say a project with a £1.6bn risk-discounted NPV is worth only £20–30m unless you assume catastrophic funding terms or that the CPR is wrong.

In this sector, NPV is the basis on which lenders, offtakers and strategic buyers decide whether to fund or contract the material , not a retail narrative.

"Using NPV numbers at this stage is highly misleading for equity pricing."

I refer you to the RNS 28th November:

SLR Consulting Australia Pty Ltd ("SLR") has prepared an updated CPR for the Company on the Yammacoona Sand Quarry, originally published on 10 September 2025,

· A financial model has been developed to assess the financial viability of the quarry and its operation. A Net Present Value ("NPV") at a 15 per cent discount rate of A$3.312 billion (approximately £1.63 billion) was calculated using the discount cash flow method over a 25 year period including terminal value at year 25. The full assumptions used in the calculation of the NPV are contained in the CPR and the full CPR should be read in relation to the valuation.

So the company carrying out the CPR is using NPV and you think it is misleading. Lol

The main risk, is the RTO not being completed.

If this was likely to happen, would PEEL still hold circa 12%?

The current CPR is inferred with a 15% discount NPV £1.6bn

The upgraded CPR to measured will have a discount around 10% or less NPV could be £2bn+ just by using less discount. (Subject to drilling results)

Currently we do not know how many offtakes (if any) are on the table, and it would be subject to the CPR results.

These unkowns will all be known in due course.

OAP,

You're clearly missing the point, I'm not interested into getting into a bun fight.

In one respect you do good research, and at the same time you mix things up or create a narrative (that you must know that is wrong) to suit an agenda.

All your questions, will be be answered via CPR , bookbuild and prospectus.

The latest circular, provides ample information in the meantime.

In your haste to troll, I wonder if actually understand what you're saying as you have agreed with me the valuation stems from the CPR ,bookbuild, and prospectus (containing offtakes).

The prices you have can up with are just your own made up opinion, dressed up as factual with no credibility due to the missing available information to make such a price in the first instance.

OAP,

You’re mixing up the SPA mechanics with the admission valuation.

Yes, AMG holders roll into 3%, that’s fixed.

What is not fixed is the valuation at which the new company is admitted to the Main Market.

That valuation is set by the CPR, prospectus and institutional bookbuild, not by today’s retail price.

That’s why Strand Hanson is sponsor and Peel Hunt is involved.

If UPSA were only worth £20–30m on admission, Peel wouldn’t be sitting on 12% and supporting liquidity, they’d be exiting.

What we’re seeing now is a clean-up phase.

The valuation phase comes with the prospectus and bookbuild.

I don't think they're trading it per se.

PEEL is the joint broker, market maker, and placing bank.

At this stage in the RTO process PEEL are acting as a shareprice buffer from legacy holders dumping.

As an MM they are probably making £10k-£20k on large trades.

But for the bookbuild, they would be making £1m - £3m

So PEEL are working hard and it's very positive for current shareholders.

The market is being prepared for bookbuild-level flow.

Once the prospectus drops, retail won’t get this price again.

Currently we are seeing pre-admission stock positioning for the RTO.

There's more than one market maker here, and there's a new one starting today (SING), 6 in total.

PEEL know what they are doing and today's additional market maker suggests an event is coming soon.

Perhaps it's in conjunction with the rules change next week.?

Institution buying in early IMO