Member Info for SmoothOperater

Agree Mooching,

Thankfully the RTO placement will be conducted using the upgraded CPR valuation, and therefore a lot higher than today's share price.

This share is too thinly traded for them to have pushed the price down as far as they did.

Now they won't be making as much profits, most retail investors are already loaded up and waiting for the RTO.

Such volatile drops deters trades.

The guaranteed profits are baked into the RTO completion and beyond.

Stampee1,

It's only temporary, the share price should never have dropped this far back. A bit of manipulation we'll be glad to leave behind soon.

I suppose there is an element of people taking funds for Xmas to be added.

The CPR will dictate the future valuation here.

Currently inferred 386 million tonnes, which at an expanded potential of 10 million tonnes per year production, would give a 38.6 years life of mine.

The above is just an example, of the potential of the asset, I'm expecting an increase of resource tonnage towards world-class as described by Chadwick himself.

There's been nothing to suggest the RTO won't complete, infact the complete opposite as the company has been dealing with historic issues, that has now paved the way to completion.

Its a very small team, they are probably more focused on other priorities at this time.

I think it will go through and maintain a large (for me) holding.

Well a load of shares has hit the market this week , with the buyer's price of 7.6p....

Plumbs,

AMG is just the vehicle for UPSA to list as a Mid-Cap Company.

AMG has just dealt with historic debts etc which has had an effect on the shareprice.

On the RTO the company will go straight to Mid-Cap and leave the small cap problems behind.

AMG will be 3% of a much bigger company with bigger company issues.

Amadan,

That's definitely a question for the company to answer.

RNS 28th November 2025:

"A Net Present Value ("NPV") at a 15 per cent discount rate of A$3.312 billion (approximately £1.63 billion) "

15% discount is industry-standard for inferred resource.

They are currently upgrading the resource to indicated.

10% discount is industry-standard for indicated resource.

15% discount = £1.63 billion

10% discount = £1.73 billion

Therefore, even if they don't find anymore tonnage (highly doubtful) the NPV valuation will increase by £100 million.

AMG value be awarded 3% of this , which is another £3million.

Today's MCAP is £3.6 million at 20.5p.

Another £3 million would add 17.1p today.

37.6p shareprice if minimum CPR published today.

For context £1.73 billion NPV would support 90p+ share price on completion.

Surprised anyone would sell below 60p unless they are a trader.

Mates Rates

Nates rates Imo

There's nothing new , it's all factored into the calculations , the RTO relist price will remain the same 80p - 120p dependent on the CPR upgrade

You're welcome, BTW the transaction looks to have gone through, they'll be no TR-1 as market mechanics were used.

There is nothing to hold down the share price, it will rise again before the RTO as the relist price will be a lot higher than 50p IMO

Amadan,

What we know for certain :

The 50% occurred the day after the GM resolutions vote.

Also, we have a market maker (Winterflood) that has currently positioned themselves to take no trades.

What we can deduce from the above:

Most likely the drop is somehow related to the resolutions.

There's an imbalance with that particular MM's order book.

Conundrum:

We know from the resolutions, they cannot sell any shares because they will be issued in connection with the RTO.

For an imbalance with the MM, they must have taken on a risk, and therefore offset this by selling down the price.

So that's where we are, and the rest of the puzzle would be solved by the publishing of the prospectus.

There's nothing for the company to explain as the drop looks like it wasn't related to the company or the RTO.

Some sort of large-scale transaction is taking place, once it's through the shareprice will go back up for the RTO. IMO

Disagree totally,

They now have the required authority to proceed towards the final vote.

They are currently upgrading the CPR, this will validate the prospectus valuation and enable a broker to obtain institutional backing.

No doubt the above is likely to be provisionally in place.

Fully diluted I estimate 80p -120p range for AMG shares on completion.

Timeline would be measured in weeks at this stage.

Tr-1 disclosure

TR-1 is only required when a beneficial owner crosses the voting rights threshold, not when a trade equals that % of the company.

Market Makers are exempt under FCA DTR 5.16 and do not trigger disclosure.

Brokers can split holdings across nominee accounts, unless a beneficial owner crosses the percentage threshold, there's no requirement for TR-1 disclosure.

It's just market mechanics , large trades going through market makers, nominee accounts,and broker inventory without