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Yep that would be my reading of it, obviously the valuation will change as the project nears maturity. But so does the opportunity for creative accountancy

I think you are all missing one key point of the contract.

Any money paid to the counterparty will be a net sum after all of Aliens costs. I'm sure a smart lawyer and accountant can use that to broker a good deal.

Let's hope we now have some such!

Enough said

Maybe people are getting wise to Frasers buying patterns, maybe Boo is a micocosm of why AIM is slowly dying

It would seem strange that you haven't taken your own advice?

So market makers and brokers don't populate sets then

Pmsl

Market makers have been filling their own pockets with a ridiculous spread, let's hope for a more orderly market the rest of the day

It would be nice if the market makers did their job rather than renting to line their own pockets.

How do they justify a 20% spread!!!

Well my heart dropped when I saw the Friday RNS

Great to see this is the exception to the rule!!!

Let's hope the MMs do the right thing as well

Forrest, my understanding is that indicated resource is good enough for a decision to mine, so I don't think we will need any more drilling.

I think the price will start to move pre Q3 as the key milestones are hit. The big problem here is management credibility, as soon as they start to deliver anything we should start to see a rerate imho

I'm not sure they are actually making a market at all at the moment.

Another day of more buys than sells and the sp is down.

I guess that was the point of the stupid UT last night, to try to create the image of a fall

Self reported and KNac on side, I can't see this being any kind of serious issue

Wents we are unlikely to see any price movement when the MMs have a 20% spread, it's plain daft.

The resources in the ground aren't changing, we just need Alien management to do so

Hexam that's fine and it's good to have the clarification, let's wait and see what the final number is.

My point was more than Kachrafilter usually posts in a sensible manner and it was a very strange statement to make.

Hexam thanks for the clarification and I note that Boo adjusted EBITDA is after exceptionals, of which there will be a considerable amount.

However, the Revb statement today also talks about adjusted EBITDA

It would seem that daytradenovice is still unable to understand an RNS, let alone apologise when he is caught out lying.

The non execs have always been part paid in shares. Most people would think that is a good thing as it helps them connect and share the pain of average investors

Selangore, they specifically stated in one of the RNS that they would start road construction once native title was secured and before the mining licence was granted

They clearly haven't done so. It's not clear from today's RNS if they have actually requested the formal licence yet

Kachrafilter, unlike most on this board you usually post in a quite sensible manner.

In the interim results Boo stated EBITDA between £58 and £70m and reiterated a couple of weeks ago that performance is in line with market expectations.

I'm wondering why you have posted that you now expect EBITDA to drop by £50-60m, it seems more than a tad silly

Well personally I'm underwhelmed by this RNS.

It doesn't look to me like we have actually progressed the key documents we need at all and they will now apparently come in H1 this year. It also looks like we haven't started the road construction despite having communicated via RNS that we would have done.

It's great that the construction cost has fallen substantially and we may actually have no need of AA at all, but the JORC concerns me. The interim results last year stated a JORC of 9.1mt, so something has changed.

First production has also slipped to 2025.

I'd hope the sp will react positively as the resource is still fantastic for the market cap, but this does nothing to build my confidence in management, especially as there is still no mention of the new exec team