Member Info for addicknt

"£12 -17 per share"?

No disrespect, but what are you smoking?

Eastwood, that's a fantastic piece of work. Thanks for taking the time to create it, and I'm sure many will find it to be of great use.

Chesh, not a bed and isa, rather it was me adding the second tranche of 2m purchases this morning.

He used to be a director of Energy B. Neil Ritson, another name associated with Lenigas, is a board director of EGB.

Ha! The company is proposing to appoint an NED with a mining background.

I've been banging this drum for a while, despite being called a clown for mentioning it by one person on here.

This move is overdue and is to be welcomed.

A 'We know of no reason for the recent share price movement' RNS?

Companies and their brokers don't like making announcements like this - it looks weak - but when a company loses close to 500m in market cap in the space of one week, it may be justified.

As I understand it, that's not what the company has said.

Ah, I see. I didn't notice the insults, etc. I suppose it's too much trouble for the admin team to delete individual posts and instead they simply get rid of the entire thread, which is a pity.

Digitalis, if the criteria for deletion is drivel, there wouldn't be any posts at all on LSE!

It's always been a question of sorting the wheat from the chaff, and it's a shame when interesting posts are removed simply because someone has made a trite comment.

Who on earth objected so much about an interesting thread that they decided to report it? Utterly pathetic.

This has gone really well, hasn't it.

What's happened in the intervening period strikes me as being completely counter-intuitive.

Historically, the value attributed to NPV at the PFS stage ranges from 20 to 50%. Let's assume the PFS increases the NPV to 1.5bn and then apply the lowest percentage i.e 20%, you can see that even in the most conservative case, how far this has to go.

On this basis alone, I consider there to be far more upside here than TUN. And that is not to imply TUN is in any way a poor prospect.

I wonder what level of investment is being contemplated?

Well, you've got your wish. New strategic partnership announced.

Yesterday there was some conversation about the AGM and the various Resolutions. It was suggested, rightly so, that the motions are all standard. However, I'd draw your attention to one point: The Special Resolution.

This relates to the dis-application of pre-emption rights. The Company wants the right to dilute existing shareholders by up to 25%, although they state there's no intention or need to do so at the moment. Again, this is all pretty standard for small companies who will inevitably need further funding at some stage.

What was notable however, was the management comment that 25% represents a "limited number of shares". It doesn't. It's a large chunk of equity, so I'm not sure why they described it as "limited".

Either way, I'll be voting in favour of all the Resolutions.

Ralph, I agree.

You can imagine the conversation: " If you want my cash and reputation, this is the deal. Take it, or leave it".

The typical percentage of NPV mining projects can command at the various stages of a project are: PFS, 20-50%. DFS, 40 -60%. Development/production, 60-90%.

Various factors will determine which end of the scale a project sits: Jurisdiction, financing, and management.

1) I would argue that given the new emphasis on critical minerals, we are now in a much better jurisdiction than we have been for many years.

2) If the PFS is a strong as we believe it will be, financing shouldn't be an issue.

3) Management. This is the tricky one. I do not believe our Board is currently set-up to take this to production. Furthermore, I don't believe they have any intention of so-doing. However, if we eventually head in that direction, we can strengthen the Board with new appointments.

With cash in the bank, we're all set for the rapid advancement of the PFS.

Slurm, don't forget, we've also bought a new tractor for Cobre and just in case we don't know what one looks like, they've kindly provided a picture.

In other news, it's steady as she goes.

I wonder why f l y n n was censored? Does it mean something I'm unaware of?

unlike*****, but that hasn't happened, has it?