Member Info for TB500

Thanks Botham I thought I missed something, looks like they got the full amount and the interest in the stock.

AJAX RESOURCES PLC

("Ajax" or the "Company")

Successful Closing of Fundraising

Update on the Admission to the AQSE Growth Market &

Cancellation of Listing

Total Voting Rights

Ajax, the natural resources investment company [LSE: AJAX] is pleased to announce the successful closing of the subscription announced on 23 May 2023 (the "Announcement") and the prospective admission to trading of its ordinary shares of 1 pence each ("Ordinary Shares") to the Aquis Stock Exchange Growth Market Access Category ("AQSE")

Successful Closing of Fundraising

The Company has raised a total of £1,000,000 through the issue of 25,000,000 new Ordinary Shares at a price of 4 pence per Ordinary Share ("Subscription Shares") by way of subscriptions (the "Subscription"). The net funds raised through the Subscription will be utilised, alongside the Company's existing cash resources to conduct the necessary exploration work, including drilling activities, to publish a JORC compliant Mineral Resource Estimate for the Company's newly acquired Eureka Project, the acquisition of additional projects and for general working capital purposes, as set out previously in the Announcement.

Admission to AQSE and Cancellation of Listing

The Company's existing 46,862,500 Ordinary Shares and the new 25,000,000 Subscription Shares will be admitted to trading on AQSE at 08:00 BST on 18 June 2025 ("Admission").

The Board is of the opinion, having made due and careful enquiry, that the working capital available to the Company is sufficient for a period of at least twelve months following Admission.

The cancellation of the admission of its existing Ordinary Shares from the Equity Shares (Shell Companies) category of the Official List and to trading on the Main Market of the London Stock Exchange under Rule 21.2.17 of the FCA's UK Listing Rules will take place at 08:00 BST on 18 June 2025.

Hi Botham can’t find that anywhere, where did you find that out?

Https://www.ajaxresources.com/

The video interview up on their main page fyi

My sentiments also I will build a gradual position here as I see some significant value here before the mainstream these reaches the markets radar. The director seems very pleasant and motivated too.

Appreciate the optimism, but as someone who’s followed distressed and micro-cap situations closely over the years, I’m taking the opposite view here — this is a high-risk hold at best, and more realistically a sell until hard facts replace speculation.

Lock-in periods aren’t a shield. Yes, half the float may be locked for 90 days, but a lock-in doesn’t equal commitment — it’s a restriction. These holders could still be sitting on paper losses and ready to exit the moment they’re allowed. It won’t stop negative price pressure when the gate opens.

The £3m raise might suggest confidence, but it could just as easily reflect high-risk appetite, or investors backing the company only on the assumption of a quick turnaround. We’ve seen similar cases where “confidence” was misplaced or short-lived. Where’s the detailed breakdown of how that capital is being used post-suspension?

Clive Roberts may be a large shareholder, but even significant insider holdings don’t guarantee shareholder alignment — especially in distressed AIM stocks. The presence of a chartered accountant is helpful, but we still have zero audited accounts and a suspended listing.

The company admitted to serious cash control failures — this is not a minor governance slip. "No material losses" sounds reassuring, but that’s company language pre-audit. Let’s see what the independent audit actually confirms. Is there any forensic review beyond the basics?

Production and Cologne trade show activity are encouraging, but how material is it to cash flow? What’s the actual revenue contribution from resumed ops? And more importantly — what’s the current cash balance? That’s what will determine whether they can sustain operations, not just PR about momentum.

Debt deferrals to 2026 sound positive on the surface, but again — we need to know the terms. Are there covenants? Accrued interest? Penalties? Deferred doesn’t mean waived, and it adds pressure long term.

Bottom line: I’d be cautious about chasing dreams of a “superbag.” This has all the hallmarks of a relief rally trap — a suspended, loss-making company with weak governance history and no audited numbers is not something I’d want to be holding into further uncertainty.

I’ve learned the hard way — hope is not a strategy. Until Woodbois provides audited accounts, proves solvency, and confirms relisting, the smartest move is probably to exit on any liquidity window.

When you dig into the detail, the raw cash position looks more robust than the headline numbers suggest. While the optics of sub-$1m cash can trigger concern at first glance, the actual cash burn of ~$432k in just over 10 months paints a more conservative picture, especially once you strip out the non-cash items like amortisation, FX losses, and share-based payments.

That said, a few things still need clarity. The $415k from orders in March — is that part of the Valeos agreement, or additional UK supply? And is it booked revenue or cash actually received? The wording leaves a little room for interpretation, and that makes it harder to model runway accurately.

Also, the director remuneration looks lean, and marketing only really ramped post-raise, so there’s a legitimate question: are we still in a low-cost operational phase that will scale up later — and if so, how will that impact burn going forward?

On the trading front — 20k volume with 2:1 buy-to-sell ratio confirms underlying demand, but the illiquidity exaggerates swings and creates a noisy tape. It would be good to see whether that demand sustains as fundamentals get clearer or if it’s just opportunistic accumulation at these levels.

So while the “cash running out” fear seems overblown for now, I’d still want clearer forward guidance on monthly burn, revenue visibility, and whether any near-term capital raise is being lined up quietly in the background.

Absolutely agree — as someone who has analysed airline equities and cyclical businesses for over two decades, today's results from Wizz Air are indefensible. Stripping out the €194 million tax credit, we’re looking at a business generating over €5 billion in revenue yet delivering no real profit — that's operational failure, plain and simple. The CEO and board seem alarmingly out of their depth, particularly in managing cost discipline and forward guidance in such a capital-intensive, margin-thin sector.

This isn’t just a bad quarter — it’s indicative of structural mismanagement. Markets aren’t going to overlook this once the US opens, especially not institutional investors who’ll be quick to mark this down on weak core performance masked by one-off accounting tailwinds.

Indeed — Swen Lorenz's work on GCM has been a textbook case of how deep-value research can materially move illiquid equities. I remember his original report well; the thesis was robust even then, and it's telling that years later, he's still highlighting it as a top idea. In my experience, when a niche stock like GCM is spotlighted by someone with a loyal and affluent following, the resulting volume surge often has more to do with investor psychology and positioning than fundamentals. It's a fascinating intersection of market microstructure and narrative-driven capital flows.

Very strong close , bullish on the charts

Really well put, and I find myself nodding along with a lot of what you’ve said. I’ve had similar thoughts—timing is everything, and in hindsight, my entry point here might have been off as well. It’s a reminder of how important it is to weigh both the technical setup and the fundamental story together.

The persistent selling pressure has definitely stood out to me too, even during times when sentiment was more upbeat and the price was significantly higher. It does make you wonder if there's been a broader strategy behind the scenes, possibly linked to ongoing funding plans.

These kinds of cycles—where placings seem to be timed just before key updates or financials—aren’t uncommon, and they often catch retail holders off guard. Whether that’s the case here remains to be seen, but I agree: until we get some clarity from the company, everything else is just speculation.

Let’s hope an update is on the horizon soon—one way or another, it’ll give us something concrete to work with.

Launching on Aquis appears to be a strategically sound move, offering an ideal entry point for early investors. In a recent interview, the director mentioned that a key milestone for re-listing on the LSE is reaching a market cap of $30 million. Given that the current valuation is around $3m, this implies a potential 10x upside before the company even returns to the main market. Achieving that target would not only provide significantly increased visibility and liquidity, but also position us well ahead of broader market participation. From my perspective, this is an excellent time to begin building a position. Of course time will tell!

Trojan You were ahead of me on this one. The more due diligence I conduct, the more I see substantial upside potential once trading resumes and the company lists on Aquis. It appears to be largely under the radar, which could make it a hidden gem—especially given that the directors and their families collectively hold a 40% stake, aligning their interests closely with shareholders and likely incentivizing them to drive significant value creation.

Https://www.proactiveinvestors.co.uk/companies/news/1072333/ajax-resources-applies-for-aquis-listing-and-plans-raise-to-advance-argentine-projects.html

200% rise on the back of nothing. Could be interesting into close.

Unfortunately too much dilution is such short time frame

This listed at 40p with no commercial agreements in place — impressive in itself.

Now, with major players like Johnson & Johnson and Pfizer involved, securing the necessary funding should be straightforward. The company also has options exercisable at 14p, indicating strategic flexibility as they evaluate the most advantageous route to raise capital.

It's worth noting that RNS disclaimers often mention funding uncertainties — standard language I've seen repeatedly over the years. It’s a regulatory formality rather than a red flag. Many firms continue operating and growing long after such statements.

A joint venture, potentially with J&J or another significant partner, looks increasingly plausible. We’ve known for a while that funding was only secured through October, so a capital raise or JV has always been likely in my view.

Just noticed an interview by Ajax Resources — I’ll watch it this afternoon and share my thoughts afterward.

https://www.lse.co.uk/media/ajax-resources-transformation-from-spac-to-copper-gold-producer-in-argentina-and-aquis-listing-dlakm4nnhm5ffqj.html

I do wonder when we come out of the halt, I have money on the sidelines ready to increase my position.

Absolutely agree — by this stage, Axis would have conducted thorough due diligence, so it's reasonable to assume they're comfortable with the fundamentals of the project. Delays at this level are more likely tied to regulatory formalities or structuring complexities rather than any lack of commitment. These types of transactions rarely follow the ideal timeline.

As for SML, this deal is genuinely positive. Offloading the LCCM situation removes a persistent distraction, and bringing in approximately £4 million significantly strengthens the balance sheet. It’s a strategic shift — consolidating focus on Redmoor while retaining a potential cash generator in Cobre. With a streamlined portfolio and fewer legacy issues, the new management can now fully commit to driving Redmoor forward with urgency. All in, it’s a clearer, more focused path to value creation.