Member Info for Adw198

Abzzba I definitely did NOT call ALL MATD investors autistic.

Prove it or retract it.

Or better still stick to the company

Hi Tenbag

Are you still down?

Is that why you keep bringing your disgraceful behaviour when I wished you and you alone ill?

Holders are entitled to be upbeat and even braggy - these days are to be savoures

But liars like Tenbag and idiots like charting guru investor aren’t entitled to claim some kind of moral victory from people like myself who has always been honest on the prospects. Including when invested and the telegram lads were all telling us 2.70p was the bottom.

Is 2.20p really the promised land?!

Hi gravy, aka my triggered little stalking friend,

I’m happy for the few decent people on here, although I suspect most are still underwater and / or not going to de risk from a 50% rise on no news. I’m sure you’re personally miles under here.

I think Doc is right this will swing violently both ways over the next few sessions. Thorn thinks it’ll only go up on no news - not impossible given the FOMO and traders but what was true yday is still true today.

And yes for transparency I’m still out. As I said ie as getting interested circa 1.30p but the feared raise kept me away. I dont regret my 1.81p sell, or rather I’d do the same again and stand by my logic.

Exciting times, even for the voyeurs like me. :)

As previously acknowledged a few times today / this week that’s a monster move. Pretty remarkable on no news. It’s why we love AIM.

My prediction is Heron sold RNS this week. Speculative prescription obviously

Mega rise this!

And now back above my sell price, so extra reason for my fan club to crow :)

Sounds like you don’t know what’s “expected” at all Thorn (which is obviously correct).

Also sounds like you’ll be happy whatever the news is (which as I expected)

I’ll leave it you to break it to Proquo that a raise is a very possible outcome, he sees that outcome as deramping.

@thorn

“This is going up because of what's expected to be announced at the AGM if not before given today's SP action“

Just so we’re clear and don’t claim to be right / happy whatever comes - what’s “expected”?

“Let's not forget that the co-ordinated and illegal stockbashing group's main method of spreading doubt and anxiety is to constantly warn of an imminent,unavoidable raise. The problem they have is that they started saying one was imminent about four months ago. And they're still saying it. It is like they're running out of FUD to spread. Lovely“

More unfounded allegations. Must be peeping through the filter curtains to know what people are / aren’t saying.

I certainly think they’ll be a raise and shared my detailed rationale based on the cash burn. If it’s wrong no worries, I’ll happily pop back and admit it.

Is it a reasonable position to say a company who are running out of cash will need a raise? Or exactly the type of conversation that should take place on a healthy board?

Anyway, a proper move up today. An exciting week or so ahead

They’re good questions Altan but you’ll find there’s no appetite to discuss the here and now reality. Not when theres rockets to launch. :)

Even if a JV partner is found (personally I think unlikely until more is known about H1 and H2) then money will presumably still be needed for corporate overheads, certainly unless H1 can very quickly start producing multiples.

Good move up this btw.

Even allowing for the usual AIM CEO relentless positivity thirst sounds extremely reassuring.

I guess the only negative is the uncertainty will linger until it’s put to bed. Hopefully they clarify at some point.

“And I have been told in no uncertain terms by management that the federal government is fully behind them and the only reason that we’ve not received any confirmation of this is because the government wants to be diplomatic rather than publicly slap down the state officials“

I have to say I’m very surprised (but delighted) such a statement would be made. It’s surely getting very close to market sensitive - infact I can’t really see how it isn’t.

I’m also surprised the government wouldn’t clarify the position. If their intent is to drive investment and they’re siding with us then I’d have thought they could find a diplomatic statement to reflect that.

And if there’s an outcome that results in us paying a single dollar then Segens integrity would be zilch if he’s really been privately so explicit.

Hi

I think I’m saying I make the Q1 25 spend more likely to be $1.5m, but I fully accept that’s based on some speculative / unknown figures.

Ultimately not a game changer whether your figure or mine is closer to the truth, I think we’re both on the same page in thinking a raise will be needed fairly soon.

Thanks for the exchange 👍

Hi Unnd

Thanks for the reply and explanation.

I’m not an accountant or skilled in reading accounts but the cash balance for H1 beginning and end seems to suggest a larger burn than you’ve stated.

H2 we don’t know about but we know they started on circa $10m.

We can deduct / ringfence the drilling which I’ll estimate at Gobi $1.5m and H2 $2.5m.

That leaves $6m and the broker note estimated $2.5m, suggesting other running costs / loses of $3.5m.

To me that sounds about right compared to the H1 burn of $2.5m, noting there was more activity in H2 and especially a stated desire to invest in renewables.

All shared respectfully based on the above logic and with an acknowledgment I might be reading it wrong somewhere.

Thanks

So far Abzzba has made some angry assertions about costs. I’ve shared the company RNS quotes showing the H1 cash burn was circa $2.6m for H1.

Clearly H2 will dwarf this figure with the drilling but happy to exclude that as not usual running costs.

I’d expect H2 to have more general costs though given all the activity and OPEX at Heron 1.

But let’s keep it simple / generous to the bulls and say standard running costs are circa $2.6m per half year.

If, as the broker note claims, there was $2.5m left at year end that gives 3-4 months left.

At some point revenue will hopefully be received for the stored oil but that seems to be accumulating at circa $200k - $250k per month.

It’s a loss making venture with dwindling cash.

If any of the above is factually wrong happy tonne corrected

Where are your figures from Abzzba?

Not saying you’re wrong but certainly the cash burn was more than you’ve quoted and nearer to the $500k

“As of 31 December 2023, the Group's cash position was $4.5 million (inclusive of Financial Assets)”

“The Company's cash balance at 30 June 2024 was USD 1.93 million (USD 0.77 million in cash and USD 1.16 million in Financial Assets)“

Those who don’t think it’s important / significant like Thorn and WOS are entitled to their view. I’m not even saying I massively disagree.

Obviously if / when it does land those people will need to post that it’s not that important and not a significant event. Let’s wait and see…

Cancer blah blah blah. Let’s just say I hope everyone gets what their behaviours warrants.

Is WOS really now trying to claim that the deal has been signed but no RNS is necessary?

Personally I think it would be a market sensitive matter but irrespective of what I think let’s recall it was who set up once of him famed header says it’s all as follow

“RNS 'WITHIN' Next 5 (market) Days for First Cash Injection Signing!!“

As usual the same old rampers promise the earth and when it doesn’t happen tell everyone else it’s not expected.

Hypocrites and liars.

Whether or not he was confident WOS, the timeframe has been missed. That’s a fact.

Personally I don't blame him, he’s reliant on a 3rd party and doesn’t exactly hold the whip hand.

Why PC are taking so long is interesting but who knows why.

“The sales RNS is a formality and comes when it comes.“

Hmm in 2 minds here. To some extent it doesn’t matter if it’s today, Monday or next month. But given the massive delays it’s hard not to find is suspicious - why would it take months to sign a contract?!I also wonder how large these storage containers are - we’re now upto over 4 months production at circa 200bopd. Is the storage unlimited or will they need to turn the tap off.