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2 reasons I think (1) the fear of another substantially discounted placing once they get the mining licence (personally I don’t think there will be a placing, but even if there is I think the discount will be less damaging given the quality of the asset held) and (2) as the ML will take at least 3 months people probably looking at opportunities elsewhere such as, perhaps, GGP, given the breaking news there this week. Could be wrong on both counts though, so this is no more than idle speculation on my part

I don’t know, with such a low MCap, if the contracts come in this could rocket, but shareholder faith is certainly being tested.

CC doing a great job IMO with the things that are within his control. As others have said, it’s now all down to whether / when the vanadium price recovers but CC’s actions allow the company to buy time and stay in the game for longer - not much more he can do than this.

This is AIM and placings are expected from time to time, but with this company it’s their frequency and the substantial discount. Well underwater as I suspect most shareholders are.

MCNol, top marks for common sense.

I think they’ll try to drag SP below 1p to trigger stop losses and then should recover from there. An update from the company / interview from Lorna might help stop the rot, because as I see it, the main worry of shareholders is the prospect of another substantially discounted placing. If we could get some reassurance on next steps and cash position etc that might help

Dai2belts, if we get the ML this should significantly re-rate, so even if you’re right (but I don’t think you are as the placing in June raised £8m) the future placing will be off the back of a much higher SP and as the company will have a valuable asset at that time (having moved on to being a developer rather than purely an explorer) the discount on a placing is likely to be more reasonable and less damaging. IMO and DYOR

If we agree it is a decent RNS then what’s changed that justifies the SP drop? Why didn’t it drop yesterday or the day before, after all we know nothing more today than we did then other than today’s decent RNS.

Extract from the RNS dated 10 June 2024 re fundraise for ITW-1 drilling reads as follows:

Drilling Programme and related timetable

"Following the completion of the proposed Fundraise, the Company will be fully funded to complete the EWT, with a working capital runway for a minimum of 12 months from the date of Admission.

The Company intends to undertake and complete the additional drilling and the EWT at Itumbula West-1 during the course of Q3 2024 and will provide updates with respect to progress in due course."

Yes, there has been a further recent placing but that is for the Colorado acquisition which should give the company earlier revenues and so assist further in terms of cash management.

IMO all this panic today about there being a huge heavily discounted placing on the horizon is absolute nonsense.

If the company is granted a mining licence I would expect future funding to be covered primarily within an off-take agreement. IMO and (as many PIs clearly haven't) DYOR

Blimey,isn’t the deadline for repayment of debt due this month? If we don’t get the funding in from the Swiss I guess we are in for another consolidation and the mother of all placings. This RNS gives me optimism we will be OK, but then again this is VAST

Porky, have they churned though? I don’t think they have as the volume (there’s a massive amount to shift) hasn’t been there. Agree this has to deliver to improve the SP but it seems more promising now than before. I appreciate pre placing PI shareholders will feel screwed over with the substantially discounted placing which is understandable.

Porky, you can hardly expect Unilever to pay if the concept isn’t yet proven. If it does turn out to be successful then the company has future revenue streams from its relationship with Unilever as a direct follow on from doing this work - an opportunity they probably would not otherwise have

If that is the case, and I’m not saying it’s not, surely the company should RNS this rather than relying on a studious PI to spot it for us. Also, just because they ask for an extension to March 2025 doesn’t necessarily mean it’s going to take that long - the IPO could still be done in 2024 and missing the 23 September deadline could be marginal

Probably is being done at Aptamer’s expense but if successful Aptamer will reap the rewards which IMO could be transformational when considering the current MCap. The recent placing has put the company in funds to do exactly this type of work. Surprised the SP has remained below 0.3p as I expected a significant take up of the placement shares. May be the placees see the potential value and in large have decided to retain placement shares rather than churn them?

It was a good placing though at 1p. Looking forward to adding if this dips further. IPO might be delayed but there’s every likelihood it will proceed IMO and the potential bounce will be phenomenal. In the meantime there is more to MFAIs portfolio than Infinite shares.

What would also help is that when the next RNS is released it should have an investment structure diagram in the Appendix. When they try to explain it in lots of words they make it sound so complicated and potentially off putting. A picture paints a thousand words …..

Herbie, tell it to the person who invested £173k in HE1 shares at 16.10 today that there is no way this is commercial. We don’t know yet whether or not it is commercial and anyone invested (I assume that includes you otherwise why are you here) is taking a risk that it is.

Got to be one soon. Hold the line is what I’m doing.

Yes, she did and I have every confidence they will.

1. Why is the mining licence deadline 17 September 2024?

2. Whose deadline is it?

3. What would happen if the deadline was missed?