Member Info for Tardis

For me, today’s announcement is better than one in two weeks reporting that the company can’t pay its bills and will be entering administration.

Not selling from here.

Steven stop talking rubbish

Lots of mining concessions to keep the ministry busy…

They need money to get them through to the end of Q1. If they can secure that there will be a SP rally IMO. If not, they are finished.

So at the moment cash runs out mid-December, but due diligence of the other parties completes mid Q1. So some sort of deal needs to be done just to keep the lights on until late Q1. I’m not sure how this will work, but it could be the beginning of the turnaround. Being below nominal does not help of course.

Some hero…

Some scummy individuals on this board. Yes it’s the game, but don’t defend it as virtuous or ‘everyone’s doing it’. They’re not.

Is there precedent for banks releasing funds to keep the lights on whilst funding discussions continue when a company is distressed like this? The clock is very much against the company without more funds. Proper roller-coaster… This was supposed to be de-risked!

Your first point is pretty obvious. Your second point I would disagree with.

I get the feeling they are waiting for market/copper conditions to improve. Big buy from CEO is a big market of confidence.

I just wish they would hurry up now. I think it was supposed to be spades in the ground in 2019…

Is it possible that today’s RNS is intended to rattle Orion and La Mancha that they risk losing their holding unless they step in urgently? Even if it is I doubt it will work.

I have to say administration is looking likely - money is running out in six weeks.

Can a company of this size be sold in six weeks? Due diligence seems to take months these days.

I suspect anyone looking to buy the company will prefer to buy it out of administration and take their time. Any reason to jump in sooner than that?

Sadly the company is to blame for all of this. They went to the money markets with a firm plan to build the mine for sum x, and it turns out that the true figure is x +35%. Massive f-up.

So more work needs to be done to secure funding. We keep hearing that the work needed for funding is finished, only for the goal posts to change again a few months later. Will this ever get progressed…

Stop trolling Steven, you look desperate

A 50p takeover would be a massive management failure and they would know it. I don’t think they will do that. Interesting times ahead.

Creeping up

Some upward movement in the SP would be nice

Precisely Juxta. The graphite sector is riding a wave. The problem with ACP, is shareholders really have no idea what is happening with the Mahenge mine project. Two years ago we were told it was all go, now we are collecting weather data and completing the slowest FEED study known to corporate history.

I continue to believe there is an issue/delay at the Tanzanian government level. There have been a few Tanz Gov announcements re. the graphite sector, and they never mention Armadale. The Tanz Gov does have form for being extremely slow - they have large reserves of gas offshore which remain firmly under the seabed for example.

Hopefully after the last two years of stalling, ACP will start to deliver some meaningful news. It’s a Hold for me, but the sector does seem to be pulling ACP up, so potentially a nice entry point for newbies.

Don’t be boring Dan…

I actually fully agree with Amtech’s point of view, but he needs to relax. I hope he hasn’t lost his shirt on this share. I have lost a large sum on this and feel exactly the same, but you live and learn. The FCA have a reporting system for insider trading, but I couldn’t find anywhere to report sh*t*y directors - most AIM directors would find themselves reported to be fair.

The graphite wave of last week seems to have petered out.

This actually looks promising now

It’s been radio silence from the board. They know something that the market does not.

Another question, when is the FFED study concluding?