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This sounds like one of the worst farm-out deals I have ever come across. The MSMN management should be ashamed of themselves.

According to Georgina Energy on their website:

EP155 Mt Winter: Amadeus Basin
The EP 155 Mt Winter Project, in the Northern Amadeus Basin, Northern Territory of Australia is considered by independent consultants to be one of the potentially most valuable Hydrogen, Helium and natural gas prospects in Australia.

and yet the terms of the farm-out are:

Under the terms of the farmout, GE may earn a 75% working interest and become operator of the permit. At the time of drilling a well, GE may elect to carry Mosman through the cost of the well and in that case would earn a further 15% working interest leaving Mosman with a 10 per cent. retained working interest.

They have given away a 90% working interest for nothing except the cost of one onshore drill. Dreadful, especially considering that all of a sudden EP 145 has such great potential.

AJMHO

https://wp-baronoilplc-2020.s3.eu-west-2.amazonaws.com/media/2022/10/Timor-Leste-Webinar-October-2022-Final.pdf

And talking about other projects, the core samples from the Tati Gold Project were despatched off to the labs for assaying on or before 2cnd September. They have been sent to Perth, Australia though I would assume that these days they are flown there rather than sent overland from Botswana and then put on a ship. Anyways, waffling aside, they should be due pretty soon - it's only a small drill of 490 metres.

Considering that the previous drill team extended hole I-6 by an extra 50 metres or so past the planned original depth but found nothing there at all then it is very unlikely that there will be any reason to extend this current drill hole as it is only 530 metres away.

However if they have hit mineralisation in the conducive zone as per the pre drill plan, then one has to assume that the drill will continue until the mineralisation ends.

Actually I'm surprised that Johnson is even allowed to announce the Online Investor Event on Twitter without giving details through an official RNS.

The problem with the market these days is all the twitter and dodgy podcasts that litter the place.

There are instances, though not necessarily here as yet, where podcasts are coming out at the exact same time as extremely price sensitive RNS news though to anyone even slightly observant it is obvious that the podcasts must have been recorded prior to the announcement, often by as much as several days. The usual tell-tale for this is that the share price starts to move upwards a few days before the RNS pops out unexpectedly. It is fairly obvious that the podcasters are getting to hear the RNS in advance of its release so they are able to discuss the content during the podcast. However the problem is that this also appears to be allowing unscrupulous podcasters and their mates to fill their pockets with dodgy shares bought in advance of the news release. However this is clearly insider trading and quite illegal!!!

I'm disappointed that Johnson didn't bother to give updates during the drill. It has rather left shareholders guessing at the progress, which is never a good thing.

This is what I reckon is going on. With an Online Investor Event announced for next week and going by the previous hole a few hundred metres away, the drill must be around target depth and completion by now (we have been given a photo of all the cores). So PJ should give a summary of the first visual results of the drill by RNS before the online event, unless of course he is just going to give all the info to just those registered on the mailing list. Then a quick move of the drill rig to the next hole and off we go again.

Something coming from the drill site at last. They look like 1 mtr lengths with 8 long and 5 wide cores in each batch and 5 batches so that should be about 200 metres of core.

It doesn't help with the one question though - is there nickel in the conductor???

As far as I can see this is just a **** up now. I cannot see why the reporting is any different to the previous drills at Molopo Farms. With a drilling update at just short of 300 metres, just above the conductor, and a further update to say the drill had hit the mineralised zone, if indeed it has, and further updates to outline the extent of the mineralised zone, this could be heading for 10p already.

Instead no one knows what is going on and the share price is struggling day after day to hold at 1.5p. At least there won't be much to worry about if the drill doesn't hit the pay zone as not much in the way of success is factored in anyway.
ATB

I think that nickel is quite bullish at the moment - and that is the main prospect here. Back at the end of 2020 it was trading at around $16,500 - $17,500 a tonne while right now, as of today, it is over $22,000 a tonne and only last month it was as high as $25,000.

And I'd rather not hear what is going on from a podcast either, thank you.

The share price reflects that the market hasn't got a bloody clue what is going on with this drill.

Patience - I'd rather see the share price at 2p or 3p with a little assistance from the management giving occasional drilling updates. That is nothing compared to what it will be if they hit the massive mineralisation that is possible here.

I'll repeat this sentence because it is a fact:

I'm sorry and I don't want to bang on about it but with adequate communication from the drill site the share price here would easily be 2p or 3p by now.

and that would have only needed a couple of drilling updates so far, delivered exactly as before with the previous Molopo Farms drills.

I'm sorry and I don't want to bang on about it but with adequate communication from the drill site the share price here would easily be 2p or 3p by now. This is not good enough and the lack of communication is causing concern and a stagnant share price.

The newsflow - or lack of it - for this drill has been badly handled by the management - which basically means by Paul Johnson. The total lack of any update had me believing that the drill team were still reaching the pre-target depth of around 300 metres. Instead on thinking this through it is far more likely that the drill is by now getting close to the pre-drill TD of 600 metres. The reasoning for this is included in one of my earlier posts from a comparison with the speed of drilling of the original I-6 well which was only 500 metres away.

With proper communication the share price would most probably be 2p, 2.5p even over 3p by now (provided we have hit some of the mineralisation as predicted but without needing to be anything sensational). And yes, my reasoning for this is again based on the share price movements during the previous Molopo Farms drills - I-14 and I-6 - during which time the share price rose from 1.65p when the drilling commenced to 2p as I-6 was progressing and peaked at 3.45p by the time the depth of I-6 was extended but still without any noticeable mineralisation. Yes, there were other projects going on then, as there are now, but the Molopo Farms drill was the main share price mover at the time, as it is likely to be now.

A gentle rise based on good communication is much preferable to a massive rise that is likely to catch most people unawares as PJ has a habit of issuing RNS's at just about any time of the day (previous Molopo Farms drilling updates were issued at 2.45pm; 2pm; 10am; 2.30pm; 1pm; 11.30am; 10am; 9am; 7am; and 3.26pm - so basically randomly).

Obviously everyone here is hoping for a successful hit of mineralisation but is there the need for a total news blackout - I think not! Has this news blackout held back the share price - yes, most definitely. Is good news going to result in a mad scramble - yes, it will.

Well at least news isn't being leaked, otherwise we would no doubt be seeing huge rises (or even falls) for no apparent reason. So far, at least!!!

Yes, I have changed my outlook as of today. Previously I was still expecting the usual sub 300 metre drilling update. Now I realise that is way overdue and is obviously for whatever reason not going to happen.

Instead we should be getting very close to TD (600 metres) for this drill so an update for the whole drill is now imminent.

I think that you will find that if you divide the number of RNS's issued by POW by the number of separate projects run by POW then POW issue no more updates (per project) than any other AIM or Main Market miner.

Unfortunately it looks as though PJ and his team have built this drill up as something potentially sensational but then they have completely forgotten to keep the market informed of progress to even the most basic standard or even to the level they have previously reported progress on the earlier Molopo Farms drills. That is quite poor.

26 days or thereabouts should be the maximum time needed to drill this hole and report the initial findings. 26 days is up over this weekend.

It looks like we must be pretty near to getting a first result from this drill.

The previous I-6 took 26 days to drill to 547 metres. This hole is only 530 metres away so the drilling conditions should be very similar. The current drill has been ongoing for 22 days as of end of day yesterday. The current drill has a planned 600 metre hole depth so this might take a couple of days longer but then as this is an 'accelerated drill program' the speed of drilling should be faster than before. Monday coming will be 27 days since start so a TD drilling update is now very imminent.

Videos, twitter, podcasts, presentations are just a lot of distractions now. The drill results are what counts. This is a priority drill with a priority target and there is no reason to spin this out. Get it done!!!!

If the nickel is there, where it should be, and in sufficient quantity, then the share price will be many times what it is now and even the longest LTH will be back in profit.

Legalwolf

I am still holding shares from the SULA days when they had what I thought were a couple of good assets in Sierra Leone (iron ore and gold).

Despite knowing about PJ when he took over here I did not feel confident enough to average down while POW were purely acquiring prospective resources. This actually turned out to be a poor decision when the share price rose from 0.40p to 3.5p - though this rise was still not based on anything substantial, hence the fall back to sub 1p.

Funnily enough I looked at this a couple of months ago when the SP was as low as 0.80p and thought that my investment (which was never big but any loss is a pain) was finally going to end up as a lost cause.

Then out of the blue this possible nickel discovery turned up and I have now increased my holding and averaged down to a more reasonable average and even if this current drill campaign doesn't work out I am confident that one or more of the other prospects will see my holding move back into profit.

Let's hope that is achieved very soon with a gigantic nickel discovery.

ATB