Member Info for ThomasFoulser

Ajax resources os flying on Aquis

Absolutely agree — Ajax’s structure is one of the most exciting on AQSE right now. With such a tight free float, it really doesn’t take much buying pressure to move the price significantly. If the JORC report delivers even half of what’s expected, a £40 million valuation feels conservative to me and I think that it could be significantly more than a 10-bagger from here. Maybe even up to 20. Don’t forget that they have massively increased the acreage with the Minas La Escondida and the La Nortena acquisitions.

Looking at their recent RNS updates, a few strong positives stand out:

£1 million raise at 4p completed in June gives them solid funding and the fact that they are raising another £500k at 5p shows that everything is going in the right direction.

The directors also bought heavily in the last fundraising and between them they own over 30%of the company – so there interests are completely aligned with ours. They want the share-price to go up. It seems like other big investors agree with them – it is interesting that John Story has rapidly built a significant stake here.

A few thoughts and questions:

Do you think they now have enough cash to see them through to the JORC without needing another raise?

John Story’s increased position — could that suggest more significant buying to come, especially ahead of any further exploration news?

They mentioned the acquisition of Minas La Escondida and La Norteña — how significant do you think these adjacent assets could be in building out a district-scale play?

Given the speed they’ve moved so far, do you expect early drill results before year-end to act as a pre-JORC catalyst?

Exciting months ahead — feels like the smart money is quietly positioning before the wider market catches on.

+15.79%

As predicted this morning we’re up 15% again

The interest and movement here is becoming very exciting I wonder if the majority of investors here are behind the scenes as seems only us here! I’m not complaining we got in early.

Wonder if anymore buying today seems like it goes up 13-15% every other day.

The email he replied to me from is ippolito.cattaneo@ajaxresources.com glad he's replying to our emails

Https://ibb.co/WWdQGLdS

Ippolito Cattaneo

​You​

Dear Mr. Foulser,

Thank you for your e-mail and interest in Ajax.

The recent buying seems to derive from significant shareholders who wish to increase their positions, as well as other investors. Long may it continue!

On the subject of mining rights, with the latest conditional acquisition of La Norteña, we have more than doubled the size of the project since acquiring the Eureka Project.

These acquisitions have been made with the specific intent to increase our potential resource and expand the significance of the Eureka Project.

I can confirm that, geologically, they share the same prospectivity for Gold and Copper as Eureka.

As you will have seen from the sizeable investment made by the Board in the recent fundraise, we are very confident and optimistic about the Company’s future.

Best regards,

Ippolito Cattaneo

I emailed the company last week and haven’t had any responses, anyone else had any luck? Maybe they are releasing the some update regarding the asset, don’t think JORC as that’s months off?

Something going on??

Today's Aquis Stock Exchange Risers

Share Price Change

Pin to quick picks Hot Rocks Investments Plc (HRIP.PL) 1.60 28.00%

Pin to quick picks Incanthera (INC.PL) 4.50 20.00%

Pin to quick picks Ajax Resources Plc (AJAX.PL) 3.75 15.38%

We’re top 3 risers on Aquis. Looking good

It appears someone is accumulating stock in £3,500 tranches. Liquidity is higher than we anticipated, as the buyer is executing orders with ease and the share price has appreciated rapidly. The AJAX listing looks more compelling than many equities currently on the LSE. I’ve managed to email the director, Ipolito Cataneo — we’ll see if he responds.

Guys I’ve tried to email the company directly but I think I’m emailing the wrong email, anyone got the email to the company?

Does anyone have the direct email for the company?

I’ve said it before and I’ll say it again — I think the share price will begin to move rapidly once the JORC report is out. The asset needs to be properly proven up, and that’s the key milestone. Once we have that confirmation, I’m convinced we’ll see a major rerate. From this level, I genuinely believe it bags several times — it’s just a matter of timing and patience now.

Good RNS, so with this successful completion of a £1 million fundraise at 4p and confirmation of admission to the Aquis Stock Exchange (AQSE) on 18 June 2025 seems the company now is now gaining some momentum.

A few key points that stand out to me as an investor:

The raise appears well-structured and purpose-driven. Funds will go directly towards:

Advancing the Eureka Project, including JORC-compliant drilling and resource estimation

Evaluating/acquiring additional assets, signalling a clear growth strategy

Supporting general working capital, which strengthens operational stability

The company confirms that working capital is sufficient for at least 12 months post-admission, which provides an added layer of reassurance during this early-stage development phase.

The move to AQSE, while meaning delisting from the LSE Main Market, might actually give Ajax greater flexibility and visibility among early-stage growth investors, especially given its exploration-led focus.

It’s early days, but from a fundamentals perspective, this looks like a well-timed raise with a clear deployment plan. If the Eureka exploration program delivers meaningful results, there could be real upside here.

I’ll be watching closely over the coming weeks, especially post-admission.

—DYOR, and best of luck to fellow investors.

You’ve raised a very valid point. The revenue visibility is limited, and that makes it difficult for investors to assess the true financial runway. Based on the H1 2024 revenue of £63k from 8 harvests, even doubling that output for the full year only gets you to around £126k — hardly enough to cover meaningful operational costs, let alone service debt or support growth.

The Valeos supply agreement is a step in the right direction, but without clear disclosure of expected revenue or contract value, it’s difficult to factor in any upside. This opacity around cash flow and burn rate does raise red flags. The recent fundraise (reportedly just a few hundred thousand pounds) buys them some time, but probably only a couple of months unless they have further funding lined up or operational cash flow surprises to the upside.

In my view, we’re realistically looking at a funding need of at least £5–10 million to bridge the gap to meaningful revenues — assuming no significant delays, no surprise costs, and that the commercial pipeline actually materializes. Anything less, and CEL risks treading water rather than moving toward sustainability. A more transparent communication strategy from management would go a long way in restoring investor confidence.

Precisely Troajan. Unfortunately for Bezant, they exited at the least opportune moment, allowing us to acquire a high-quality asset at a compelling valuation. Once this stock gains broader market visibility—particularly following the release of the JORC report—it has the potential to deliver significant multiples from current levels.

I've been reviewing the original RNS issued by Bezant Resources on 7th December 2010 regarding their acquisition of the Eureka Project — definitely worth revisiting:

https://www.investegate.co.uk/announcement/rns/bezant-resources--bzt/acquisition/2320476

From my analysis, the total consideration agreed appears materially higher than the $2.6 million figure that’s been cited recently. Per the RNS, the deal comprised:

$200,000 upfront in cash

$3.9 million in staged cash payments over two years

4 million shares issued immediately (valued at 36p at the time — approx. $2 million)

A further 4 million shares due by 30 April 2011

Aggregating both the cash and equity components, the total headline consideration was circa $8.1 million.

According to the RNS that Bezant released on 19th April 2011 https://www.investegate.co.uk/announcement/rns/bezant-resources--bzt/issue-of-equity/2445895 they definitely issued both sets of shares as they confirm that “Winetime is now interested, in aggregate, in 8,000,000 ordinary shares representing approximately 12.31 per cent. of Bezant's enlarged issued share capital. “

Then in the 4th January 2012 RNS they announced that they have reduced the cash payment down from $3.9 million to $2.6 million. https://www.investegate.co.uk/announcement/rns/bezant-resources--bzt/update-re-eureka-project-argentina/2732130

So in total they paid

$200k upfront payment

$2 million in shares up front (4 million shares at 34p) on 7th December 2010

$2 million in shares (4 million at 38p) on 19th April 2011

$2.6 million cash payment

So in total $6.8 million for the project – and we got it for $170,000.