Member Info for ART123

The 2nd HWM is due to be installed and up and running in February. The 2nd HWM should double production. It would be nice to see the share price double - say to the 45p to 55p range. I don't think this is asking or expecting too much.

Could be any price.

Gem Diamonds Q4 2022 Trading Update is out today and they quote:

' 107 498 carats were sold in 2022, achieving an average price of US$1 755 per carat (FY 2021: 109 697 carats sold for US$1 835 per carat).'

Rough guide to price of carats:

2 September 2020
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Sale of 3,805 carat diamond parcel
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei' or the 'Project') in the Kimberley region of South Africa, is pleased to announce the sale of 3,805 carats at an average price of USD330 per carat for an aggregate consideration of USD1,255,000.

19 October 2020
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Sale of 2,900 Carat Diamond Parcel
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, is pleased to announce the sale of 2,900 carats at an average price of US$300 per carat for an aggregate consideration of US$870,165.

There is far too much *****ing and bickering on this board. There is hardly a post worth reading as all we are getting is rude personal nonsense about matters seemingly unrelated to what is going on here. For god's sake, please grow up.

It sounds like a lot of fuss about nothing. The drill was getting through the mud, albeit at a very slow rate of 1 metre per hour. The drill is still 250 metres short of the target depth. The mud will provide a good seal. Now all they need to do is work out a method of speeding the drill through the mud. Simples.

It can't be that complex. I am new here and I can understand it. Besides why book a presentation if it's all gone wrong - that's the last thing they would do.

I am hoping that we will have a drill plan with some dates here soon as the drill is due to be finished in Q1 and we are now nearly 1/3rd of the way through this period. I am assuming that they will have to construct an access road and prepare a well pad even for this shallow drill and this all takes time.

It looks as if UKOG do not need to raise any more funds as if they did the share price would no doubt be racing up ready for the fall so with success this could be a great booster to the share price.

The gas is most likely there with the mud providing the seal. All they need to do is work out a faster way of drilling through the mud - 'At 1260 metres Measured Depth a decision to suspend the well was taken as rates of penetration had dropped to below 1 meter/hour'. Hence why the rig is still there. Target depth is 1500 metres.

5.25p to buy now. Maybe a 15% ish drop is in order - so say a SP of around 6.75p later today.

With a £6M m/cap GCAT can still raise £2M through a placing if they get a move on. This might be the only source of funding left, apart from Loan Notes, if the fall of the last few weeks continues.

The real problem is that the lower the m/cap the less ability GCAT will have to raise funds in the real world - ie by placings or Loan Notes, which are going to be the only options left pretty soon - or maybe already!

It will be very easy for the management to give excuses for Philoro not proceeding with the financing - which I think is on the cards now - and then the only option will be a very cheap placing or Loan Notes.

The real problem here is that GCAT are Main Market Listed. If they were on AIM they could at least raise cash with bucket-shop placings but they cannot do that on the Main Market without an immensely long-winded prospectus.

This doesn't make sense:

'With regards to its financing arrangements, the Company announced on 10 January 2023 that OCIM Metals and Mining SA ('OCIM') would not be proceeding with its previously announced funding. This was announced immediately upon written confirmation from OCIM. As a result of this, Philoro Global Trading AG ('Philoro') did not advance the funding by 31 December 2022 as was expected (see RNS dated 12 December 2022).'

If OCIM didn't notify GCAT until 10th January how come Philoro were able to pull out of the funding by 31st December.

Maybe COPL should get the JV for the BFFDU sorted out first as they are meant to be drilling 2 wells early this year and then get an add-on for the Cole Creek.

And what about the Shannon Unit as COPL could always do with some JV funding to speed things along there.

I just feel that with all of the resources on the books, it would make common sense to get some other companies involved in all of the aspects of these fields. COPL are already struggling under large borrowing and silly and annoying Bonds and yet they still own 100% of much of their acreage and a large % of the rest. How long will it be before COPL can afford to hydraulically frack these 3 wells without further increasing the debt and Bonds in issue? But a JV partner could stump up the cash for a %age of the field in no time at all.

Good idea - 3 x JV's.

It's possible. We already know that the deep oil discovery can be a stand-alone JV. But if COPL are talking about fracking the Cole Creek wells and I assume they could drill more wells there as well then that too could be a stand-alone project for a JV. Then the Shannon Unit, with its already production and potential for significant increases, could also be a JV in its own right.

Mr Millholland doesn't tend to do podcast interviews. He says 'hello' to the podcaster and then talks and talks and talks and talks and leaves very little opportunity for questions and further chat about other related topics. On this one, by the time he had finished talking the podcaster, who may or may not have followed all that was said, was happy to say thank you and call it a day.

Maybe COPL should look at 3 JV'S - one for the deep oil discovery, one for the Shannon Unit and the third for Cole Creek. Good idea?

Great! Game changer of an RNS and the share price is up by a massive 2.84%!

And still no mention of the RBL, JV or the deep discovery drill that was meant to be happening in January.

And most here are no doubt as under water as my holding of nearly 18 months. Nevermind, we'll all be rich tomorrow......

ATB

'Game changer' in everything except the share price so far. Maybe the Canadians will like the look of this more and move the SP up and we can follow suit.