Member Info for bandit1

My last comment on this. Every day on these boards people make comment about a price going up/down tomorrow, next week next month etc. This is often, not always, due to their current position i.e. If they are long they may say it will go up, if they are short they may say it will do down. My question to you and to the writer is how often do people make an all knowing comment when they get the call wrong? Almost never. So, my comment reflects the fact that it is more than a little irritatinf for holders to read a smug ' told you so' comment after, what was a positive update from the company. If the price goes back to 120p in a couple of weeks we won't hear from him, unless he is long again of course!! No more.

I have just invested another £20k here at these levels. The price may go up and it may go down but for the sake of those long the stock I hope it is the former. You understand my point I am sure, being right after the event in the eyes of most people is not a great character trait.

What a smug comment. I suppose you are one of these traders who state the obvious after the event. We could all do that but don't as we know it would be moronic. Everyone knows this share is being shorted but you may also know that shorts close at some point and it may not be too far away given the potential here and exciting future but I suspect you will come on here when it happens and say that is was quite expected really!!

Yes indeed small trades are put through on many AIM stocks often towards the end of day either buys or sells with an obvious intent. Happened for as long as I have been investing - it's called market manipulation! This is one part of AIM which irritates me but learned to accept it and trust that value will out over time. If not, write it off and move on.

Shut the door behind you........your work here is done!!

Perhaps this update, which is very encouraging indeed will provide the shift I alluded to last night. Yes I suspect that there will be a combination of some short covering given the optimistic outlook but also some new positions selling into the rise but the overall direction is key and that will become apparent over the coming days and weeks. Ignore currency impacts as the market looks through that. Onwards and upwards!

I have been in and out of this share over the last 12 months as so many others have as it is the best way to maximise return. The short funds control the price here as most know and when they want it to move, it moves and the Board, institutions or minions like us can do very little or nothing to stop it. So, if you can't beat them, join them. This is an impressive high tech company with a great future and will be bought out at some point I think. For the time being we can only hope that a very strong update will create a momentum shift to reduce the short positions significantly and to stabilise a new trading range. That is in the gift of the Board. I have a long term position and a trading position and some others may agree that with a stock like this, best way to optimise returns.

out there with instructions to sweep up any shares provided to keep the offer below 40p!!

Of course there are rampers here and derampers too. That is what happens on these boards especially with AIM explorers. Secret is to understand what potential the company has from official news, read other research and factual posts listen to podcasts and interviews then take a position and develop a strategy and filter those you feel are making noise without added value. My own view from having spent a lot of time doing my research is that there are a few opportunities now some of which appear high potential from the drill hole results published to date. We are relying up the skills of GH and the Board, assuming the assets are proved, to negotiate good deals which will allow the company to monetise some of the assets allowing them to reinvest their own capital on other assets ensuring that we don't give away attractive assets too cheaply. GH has said that is his intention which sounds on the money as far as I am concerned. So, in the short term those in control of the share price will use gaps in news to improve their own positions and the price will move around until the big news drops. With some of my investments I derisk following news to bank some profit but not here, not until we hear more about our multiple assets. A lot will happen over the next few months which will inform investors as to the potential and now is not the time to bank a small profit when we are just at the start of an exciting journey.

My own take on the volatility during the RI was the trading activity of the nil paid rights. It was possible to make considerable sums during a 2-week period and some people probably did until it settled in the 50's. This is probably worth a punt at this entry point for some who can invest for a year or so. As we all know big diamond finds can happen at any time and surprise on the upside. Management are underperforming however in my opinion which means that I would not add to my position but will hold pro tem.

When this individual appeared 6 months or so ago boasting of having sold a big chunk in JLP and bought in here decrying any lth for doubting future prospects I had my suspicions. If he has this explains his desperation. The self-appointed cheerleader, Bring must have a huge amount to lose here along with Brimg given their 'rose-tinted' outlook. I have never encountered a publicly quoted company whose private investors 'rely' on private conversations with the CEO to this extent in order to to keep others in the picture. Step back for a moment and think about - something smells very badly indeed and virtually nothing which Bring reports back has any value so what does this tell you?. It tells you it is just ' hope value' which some people cling onto and want to believe. I have written off my investment here some time ago so read the pages here simply to read about the latest fantasy ( private investors investing at a premium. - you could not make it up) and to find out what will finally emerge out of this train crash. Looks to me that BMR will delist, will be absorbed in some way by JLP ( not taken over as who would want to assume liability for last CEO's decision-making) and whilst there may be a return to the market at some point if production commences that remains to be seen. AB has failed miserable and the cheerleaders are spreading false hope which is unlikely to emerge. Realism is a virtue not a fault as some here continually point out to their discredit. I hope I am wrong but not long before we find out.

8% down after 6 minutes expected and will fall further before some buyers appear. Institutions need to put pressure on CEO but his mate is Chairman so may be difficult to get him out.

Nice contract gains not only the size of the deals relative to total revenue but also the fact that the client ( US Govt) could be a tremendous advocate for the company. I expect that this will attract new investors as the market gets to know about the company which needs some high profile PR like this to make more people aware of its potential.

I must say that this is another underwhelming update and sadly confirms why the share price is at a 6-7 year low. I remain here but I am under no illusion as to immediate share price gains so will hope that performance can surprise us to the upside in another 6 months. Management need a kick up the rear end as they have destroyed share value most recently over the last 18 months. They continue to assume that the blocked parcel will be released by the Tanzanian government and include the impact into the results even after a year of procrastination. I wonder if the auditors will be content to sign off on this - not guaranteed by any means. Back on here in 6 months time or if the CEO steps down to give investors some cause for optimism.

Yes indeed too much guesswork but hopefully before too long other options and/or investors which have already been considered will present themselves. I very much doubt that a Takeover is likely at this time as it would be opportunistic and would be at a low price and existing investors would be unlikely to accept given the assets in the ground relative to any modest premium. My personal preference is to see that new investors have agreed a private placing even if it is at smaller levels than $100m which will allow the price to move up before other fund raising attempts. I suspect that Secker and his advisers may approach this differently in the future. This is not a criticism as I think they may have been blindsided by market manipulation helped along with a correction in global commodity prices!

Funny that. I'm hearing that cash flow is stronger due to lower costs/improved efficiency as promised and we should hear about that in the forthcoming update. I think you are probably correct to divest now at a low price if you are as concerned as you say you are. I will be hanging around for a year or two as I am not concerned at all and I know that the hedgies will start to cover their positions at the first whiff of good news as they know that the price will move north quickly and they may have some difficulty in reducing their shorts in the rush that ensues!

I wonder if the institutions, despite positive pre-placing noises anted to acquire block she at too high a discount and Secker and the Board would not have it! In theory this should return to the pre-placing price levels as no dilution but suspect there will be fun and games today.

Indeed it is and drilling an appraisal well with a free càrry which makes it even more bizarre. AIM is a casino as we all know but it is possible to make good returns but one needs a heck of a lot of patience and be prepared to go many months with minimal information and to endure people who want to save you from yourself. So if you are still here you can deal with these brickbats and one day we may even make some money here!

Institutional funds which commit client monies in this placing will not be taking a short-term view of prospects to make 20%. They have to convince investment committees that this is an appropriate medium-term strategic investment ( 2-3 years or more) and will be seeking a much greater return on investment for the risk involved in early-stage mine construction. The investment case is compelling as we have seen which is why BCN have the support of large organisations to date. As has been said already this morning this is not a typical placing for working capital aka keeping the lights on, with spivs seeking to pre-sell the shares to make a buck. I may well be wrong but I think the placees will see this as a serious strategic opportunity to get in at the start of an exciting journey.

On the face of it there have been very significant buying today but no change in share price makes me a little wary. Next few days will either show delayed selling to match these trades or there is something afoot with the MM's are aware of and are holding the price as it benefits them to do so.