Member Info for Theanalyzer

Chesnara can now start integrating the business generating cost savings and capital synergies over next year or two. They have plenty of experience in this so I think they will execute well.

The larger scale of group unlocks potential for next deals.

JPP

Hawk does have an outstanding charge over We Cap and my reading suggests it has security over its assets.

I think they will extend the maturity but commercially as a minimum it will ask for compensation for the maturity extension.

If they play hardball they can enforce security and take control of the company although shareholders would get value of any value post the loan being paid down and charge settled.

Given current excess value of holding in We Shop over DCB I suspect a settlement is likely.not least because putting We Cap into administration won’t realise DCBs cash any sooner,

Open pit

The last filed accounts for Glint contain a material uncertainty over going concern due to group being loss making and having net liabilities.

I hope for you sake it doesn’t go bust making it hard to access your gold.

Based on previous Tern statements cash runs out mid Q1 2026 I.e in around three weeks.

Tick Tock

A great trading update produced quickly after year end.

With this rate of growth achieved in 2025 and opening order book growth, Probiotix is well on track to hit profitability next year.

It is also cash funded to get to profitability.

Too many investors ignore companies like Probiotix.

Undervalued in my opinion.

I might by some more when full accounts are out.

Doubters now have to retreat to saying equity will never happen.

It will.

So many positive developments at present of new resources, old mines to reopen and existing mine to scale up.

Exciting times ahead

Bid is not yet agreed and if Beazley directors decline bid then share price will drop.

I think given scale of premium to existing price, the Beazley Board might find it hard to decline the offer.

I will hold on for now.

I don’t know about minimal costs, Tern admin costs in six months to 30 June 2025 were £555,000.

Running at over 10% of portfolio value

Swanny

Spot on.

Tern management have lost almost £1 million on the SVV investment using cash often raised on dilutive terms.

Cash crunch is mid Q1 2016

Looks like a big loss is now guaranteed for 2025 after £959,000 interim loss.

Some of the negative posters on here are undoubtedly still influenced in their views based on the long history to progress the mine development and constant fund raises to get to the current state.

The reality is that a small exploration company is unlikely to own 100% of any major mining asset.

Kefi now have a huge stake in TK projects weeks away from formally signing all the papers.

So a small top up from me awaiting final announcement.

Supply are raising cash using the IM companies acquisition as cover.

Other than Supply funding what else do the IM companies? My view is nothing.

My view is nothing and the funds they hold are I suspect tiny.

The deal will just dilute shareholders further.

Jonathan Swann has purchased disclosable stakes in Tern, Chill Brands and Technology minerals and is I believe a multi millionaire.

Some wealthy people have a high risk appetite and can afford to lose large chunks of cash.

So it doesn’t mean the large buyer knows something other shareholders don’t know, there are taking a stance like the rest.

So many doubters and negative views about the current state of financing. Some way over the top like the poster who said HAA was worst Chairman on AIM. Is he really worse than CEOs of VAST and UKOG, their shareholders would swop situation in a heartbeat.

HAA standing in Ethiopia will help deal with upcoming issues and further exploration.

Some doubt is to be expected given Kefi’s long journey to get to present status but my take is that Kefi will launch in early 2026.

A complex financing at equity level but given Kefi’s own market cap, it was never going to able to raise $100 million in its own equity, so it has raised it mostly external sources and retained 83% of the equity in the TK mine, with huge prospective cashflows and still people are not happy.

HAA and his team will continue to work through the forest of legal paperwork to put final elements legally in place.

I suspect the negative commentators will update their arguments as each step is signed off just like they did about 2nd bank never signing off.

I have only been in Kefi since Jan 2024 with a small holding now of 700,000 shares.

I understand some long term holds nervousness that finance still not finally sealed.

Personally I think it will happen this time.

A bit more dilution to secure 83% of TK mine isn’t that expensive in my view.

Even after financing TK will still represent a lot of execution risk in terms of site build so share price response may well be muted for some time.

ProfitJock

For some reason your rampy post doesn’t bother to mention the 11.2 billion shares now effectively in issue which means your paying a lot more than the underlying Bitcoin and cash is worth.

The businesses you enthuse about generated revenue of just £10,000 in last six months.

That a lot of hopium you are baking in.

The day has started well…

The share price is already double the proforma net assets.

Why would you pay a big premium to buy Bitcoin when you can buy via an ETF?

Market undervaluing BP Marsh at present.

Not many AIM companies are profitable and pay special dividends on top of a regular dividend.

Bazzaman

Interim results historically published towards end of March.