Member Info for Thorpedo

They are sells, we know YA are selling big so not an issue. Strange that MMs didn't delay them though =playing games.

There is a great opportunity with large contract signed and major milestones imminent.

Couldn't agree more Yani, I don't want to be all in on any share but this is very tempting at these prices with news just around the corner. There are already contracts signed to receive the first ships. Ships could be sailing in within 2 weeks.

YA will have sold another £500K in to todays rise that means they will only have another £1.5m this quarter. Once that is done then there will be no holding this back.

3rd £250K Tranche just being sold by YA should be a late rally once it has gone through. 1.5 finnish.

Of course YA are coverting and selling, very nice earner for them. Cant wait to see those late trades tonight. Hopefully they have converted loads and will be out of the way. Then there will be no holding SP back.

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At least Cascade are still around and might lend some cash. Hopefully they are relying on what they have seen and not throwing good money after bad.

CT recoverable is R&D tax credits.

Looks like at least a month in suspension then. If we need a company resolution to reorganise the shares.

Could be an issue. We can't issue any new shares below the Nominal Value of the shares which is 1p and who would want to pay a premium?

Could be the downfall. Any new issue would mean a further issue to them. Double dilution.

Must be re funding so hopefully great news.

as the carole says, the first ship will be RNS'ed and that will see a nice SP bumb. Just a couple of weeks more to wait.

No imminent placing here. PFS is due and then we move on to trial mining which should break even. There is an estimated cost of $38m for plant but this does include a $7m contingency. There is also nothing saying that the full plant has to be developed before full mining comences, so could be matched with income. Also plant could be leased which again would mean no placing. Funding will be required but with BOD having 80% of SC then, they will try minimise dilusion.

I am a happy person and dont hate anyone I know personally, I think hate is such a bad state of mind, but unfortunately one thing has tipped me in to hatred. People who knock a company warning others off it off because it needs funding, placement etc etc. Most companies need funding and the reasons that Companies are AIM is to get access to funding. People who suggest/imply that funding is needed are only doing it for their own benefit. Any reasonable investor will know that a company needs the finance. The reason for my hatred is that if they succeed in driving the SP down and have negative sentiment then it can lead to very expensive or no finance. A good company could fold because of the lack of finance beacuase a few people making a few hundred pounds. If Google, Amazon or Facebook started on AIM they would have probably failed.

Trial Mining should break even, so no cash will be needed, then. Plant can be leased rather than bought and therefore the cash outflows can be matched with the cash inflows when in full production. The whole point of AIM is to help young small companies raise finance, so why are you focused on it. Without the need of finance then this would have been kept private and we would never have been given the opportunity to invest.

Sound buy, everything still looks good. Someone bought $2m worth at 11.4p less than 12 months ago. They wouldnt have done that lightly. As you have been here a while Morris you will know that they didnt take up their warrants so the reason they bought at that price didnt occour in their original timeframe. It doesnt mean that it wont still happen.

A nice offtake agreement would reduce funding costs, significantly. I think that BM will try to restrcit any dilution as much as possible, with him and the rest of the BOD being so heavily invested. If you look at the CAPEX costs the full $38m is not an upfront cost and can aspects can be spread over the first year and spent out of sales. it also includes $7m of contingencies of which we would have to be very unfortunate to incurr in day 1.

There may be an upfront cost to the pilot plant and I think we should have already got the cash for that. Pilot mining should break even so we should recover the initial outlay. So should be cashlow neutral over H1. Pilot mining should prove the PFS findings and then further financing should be a lot cheaper and easier to come by.