Member Info for 28jaczar01

They were trying for 4 million GBP and achieved only 0.27 million GBP. That’s just over 5% take-up. Not surprising with the current SP at a circa 10% discount to the open offer price.

We will need to hear from management whether this circa 15% shortfall in their overall planned funding value receipt (assuming the GM voting goes their way today) would cause them any detrimental issues going forward and if so how they will mitigate. Perhaps they will cut back on the extent of new exploration they had planned as a cost saver to offset the funding shortfall ?

576.9 million is only 1% of 57.69 Billion 😉

Assuming the sold drilling rig had an associated work crew on ECR books then I guess this sale will also take their salary costs off the books which is a good saving going forwards. Although the caveat is that I don’t know whether in the short term there would be a hit for making any redundancy payment? I guess that depends on their employment basis and Aussie rules. Anyone with related knowledge can enlighten ?

I agree about this RNS being very confusing. I have read it a dozen times trying to find anything actually as “new” news here. They are simply re-quoting Diamond Drill (DD within the holes numbering) results from a year ago. Where are the drill results from the latest RC drills ? Or are these just placer holes for the deeper Diamond Drilling to be positioned next year?

Feel this RNS is a pump attempt by RP as they could have burnt through that August placing cash fast with drilling at both red setter and cottlesoe. Time will tell.

FFS sell the Yacht Ayman and buy buy bloody buy……..

Ukraine war: Russian diamonds set for ban under new EU sanctions https://www.bbc.co.uk/news/world-europe-67413029

Shaun comes across very well in these interviews. It’s likely he will have representatives from TiO2 related mining majors sitting up and taking notice of EEE when presenting at the mining conferences as recently announced. Why else to be attending at such events when so busy with Pitfield etc…..bodes well.

Interesting that Argo has got the monthly operational update out timely for a change. Hope this is a positive sign for more robust management going forward.

Yep. The 25000 at 2.125p at 12.05.33 was a buy (showing as sell).

Interesting pick up in volume yesterday. I know this Company has its issues but being down at just 4 million mcap with their exploration assets and couple of million in cash seems oversold to me. DYOR

Tricky Dicky

It was my post of 3rd October (19.30) about the RNS photos showing visual lack of progress.

If you revisit my post you will find that it was highlighting lack of visual signs of progress on piping, conveyors and E&I. As for my O&G industry friend he is a construction manager so is very hands on in the field at job sites and his experience was for onshore based plants and so reasonably comparable to the HZM onshore facility.

That QBT would be the only bright sparks targeting enhancement to bitcoin miners performance.

Here is link of news today from Cathedra one of the smaller miners based in Canada who are rolling out to the market a firmware product for mining performance enhancement.

It’s likely that the big miners like Mara, Riot, Hive, etc with their R&D budgets will also be having these type of enhancements well in hand. They could be already up and running in-house with no publicity fuss.

It is naive to believe that QBT doesn’t have competition…..The miners have the major benefit of direct access to their own commercial scale mining facilities for performing ongoing mining enhancement developments and testing. No brainer really.

https://ceo.ca/@businesswire/cathedra-bitcoin-launches-bitcoin-mining-firmware-product

Question….why did they stop at around 400m drill length on the first hole when their plan was for doing 500m lengths? Would have been nice to have gotten the extra depth of confirmed mineralization. Perhaps they encountered a drilling issue….Hope Shaun explains reason during any upcoming interview.

https://www.lse.co.uk/rns/EEE/drilling-to-commence-at-pitfield-project-fjo1754myeryoe7.html

RNS original version from Empire’s website. Shows all the Figures/photos….

https://polaris.brighterir.com/public/georgian_mining_corporation/news/news_rns/story/w6m52lx

That last RNS…..strange content/timing…..was it done for facilitating to drop the SP back into the 0.3s so that whomever was loading up a few weeks ago could have another run at it on the cheap… good amount of buying today. What do they know is coming here I wonder 🤔

When I saw the mid June photos RNS I was struck by the lack of any real visible progress on the “connectivity” crafts that usually take the biggest technical effort to execute timely at a job site. These are the piping, conveyors and E&I aspects. What was visible was civil, structural steel (with nothing yet mounted on it) and some equipment all of which are usually pretty straight forward early stage crafts to assemble/install at site. I showed the pictures to a 40 years experience oil and gas construction manager friend of mine and said this is targeted to commission in Q1 2024. He laughed and said looks more like it will be Q1 2025 and it would be miracle to finish within 2024. I sold my 10,000 shares at 140p that very same day for a small profit. Just wish I had put a message here at that time but didn’t want to get the de-ramper abuse so didn’t bother. Sorry to the LTH here for that and I have learnt a lesson this week and will not keep quiet the next time I have something important I believe is worth sharing that can save folks savings if they choose to listen. I would hope others who have important knowledge to share would do likewise.

4p placing price with no warrants (except few for broker exercisable at 6p) is excellent financing in the current hard market. Getting a proper good cash amount to hit Pitfield exploration hard. Well done Shaun.

Interesting from Apple for IPhone 15.

https://www.youtube.com/watch?v=d7tTxFbjgls

The word is that the Titanium option is having the greatest demand from buyers who are liking the lightness etc. I have also noticed for watches that there are increasingly more offerings in Titanium recently, again mainly for the lightness benefits. If Mega companies like Apple are seriously getting into Titanium based products where mobility lightness is key factor then future demand for titanium could sky rocket………oh to have a “Giant” Titanium resource based in safe mining Australia. 😉

It’s where you would expect the boss to be when positive drilling news lands…….ready for milking the press attention…….wink emoji :-)

Interesting news article about this onshore drilling in Angola….

https://allafrica.com/stories/202309020100.html

You don’t get senior representatives from the state Oil Company and the Government going to the trouble and publicity of doing a site visit unless there is a high probability of success in my opinion. No one in those type of senior positions wants to be associated with a failure.

This minister for mineral resources (Diamantino Azevodo) has been in the position for 6 years including re-appointment in 2022, so must be seen as a safe pair of hands.

Bodes well. DYOR.

https://eiti.org/2023-eiti-global-conference/people/hon-diamantino-pedro-azevedo

Yes maybe a drop tomorrow……..I noticed that Petrofac has lost out in the two horse bidding race for the MERAM Project from ADNOC, according to news released earlier today in the UAE press.

https://www.gulftoday.ae/business/2023/08/09/adnoc-gas-awards-$3-6-billion-contract-to-expand-its-gas-processing-infrastructure