Member Info for Tardis

There has been a transfer of shares from one La Mancha fund to another La Mancha fund, that’s all. What I don’t understand is why it can’t just be done on one day in a single trade, but I’ve seen similar slow transfers before, sometimes between two companies. Not that unusual. Was wishful thinking on my part that it would go up once finished though…

I miss the 6p days…

I think it’s more likely the other way round, that the price will go up, having been held back to allow someone to buy a large holding at 140p. Time will tell

All I know is there’s nowt you can do about it. It is obviously in some party’s interest to hold the SP flat, and the market makers are obliging them. It will end once the party has achieved their objective and the MM taken their commission. Could be worse, could be falling every day on no news and low trade volume - seen plenty of that on AIM.

Please stop trolling Steven, it’s getting boring

Agree on both counts. Darryn was needed five years ago instead of that joker Peter Bird, and debt finance is the key here. If they secure that, the company has a bright future. Fail, and the company is finished.

Did anyone get a chance to sit in on this? I was tied up with work unfortunately. Would be interested to hear the general vibe. Thanks

Steven can you spare us the running commentary of your thought process. You say you made a small punt. Take it easy or sell up and move on. Discussion boards are for meaningful discussion not endless waffle from a single poster.

My feeling is there has been a large seller for a few weeks now, and today I think they tried to dump as many shares as possible on a higher volume day.

The FS looks fine to me, but I reckon it needs the next financing step for the re-rate to commence. Debt financing first hopefully.

Hoping today is the bottom.

So long as copper price holds up, looks good to me. Next stop debt financing and a proper rerating of the SP toward £100 mil market cap.

5 million in cash which is good

Aren’t they at Mines and Money this week? I suspect it will be next week. Could be Friday though

I just hope people are investing not just trading on the imminent news and all sell on the day of RNS. 1.6p has been the recent ceiling to get above.

Some volume returning to this share. RNS tomorrow??

Debt finance first, then offtake, then something else! In that order chronologically, with debt finance being the biggest chunk.

No, ‘they’ are not

No - they are just cautious. Proven progress required after previous false dawns

Its long - nearly 40 mins. A fair bit of what we know already. Final 10 minutes if anything are the most useful. A few notes below for those without 40 mins to listen to the whole thing. (Also summarised points at very bottom)

- Darryn states a good level of interest from other parties in Hong Kong, and there was surprise at how advance the project was. States he has follow-up calls to make with some of those parties
- Re. the Cap-ex, they had to get it released, but there is still going to be some further work re. the heap leach that could reduce the Cap-ex further and they will continue to work on this
- Some Op-ex costs coming down now compared with earlier this year particularly Amm Nitrate, and also diesel
- States they have addressed the points made by the ITE last time round, and feels they will have satisfied the ITE this time
- Current modelling for NPV and IRR is 'pretty positive' compared with the 2019 study. Did not elaborate on this - unclear if he means better than 2019 study or nearly as good; could be interpreted either way
- 'Range of options' for financing which can start after FS release
- Bank/debt finance awaiting FS
- States 'a lot of interest' for cathode offtake, 4 groups interested already, these will (potentially) do further due diligence after the FS, but some of those groups have done some diligence already
- Alternative 'creative options' also on the table for financing at KSK or company level - didn't really elaborate further on this
- No time lines suggested on financing (not unexpected I suppose)
- States DOID still very much interested. States they too are awaiting the FS but expects them to 'close out' with respect to taking their 2 board members
- Asiamet want to tap in to DOID's connections so still see this as a good tie-up
- States DOID's 3 mil investment in November was critical for completing the FS
- Darryn wants to see the SP turn around, and states 'I will be buying more shares' once out of closed period which he states they are currently in
- Early in the podcast he avoids giving a timeline for release of FS however late in the podcast he states he expects to be able to buy shares in April - this to me suggests he expects to release the FS in April
- States has a meeting with TM next week to deliver the information on the FS to him and that they are 'really close to closing out' on the FS
- Long-term target of 60k tonnes of copper per year (or copper equivalent - I wasn't quite sure, but equally wasn't that bothered either - one step at a time...) - but states got to get the first project up and running to release the further potential

For me, the take-home is that they expect to release the FS in April (inferred), interest levels in Hong Kong were good, DOID awaiting FS until committing further but remain an interested party, and modelling for NPV and IRR are currently 'pretty positive' compared with 2019 (but this statement is open to interpretation)

All done

I have seen Tanzanian government statements mentioning BKT, and other Mahenge companies. My worry is that I haven’t seen any statements mentioning Armadale. Either Armadale are too small, too far behind others in the pack to get a mention, or they have fallen out of favour with the Tanz government. I hope it’s not the last one.

Could do with some actual progress on this share. It’s been dead for about two years now.

Exactly Mudguts

This price is getting seriously tiresome though. FFS…

Surely, surely they must be trying to get the FS released in time for Mines and Money