Member Info for Bozi

Skills or experience SSmithtrader?

Look at the guy's track record of delivering value for shareholders of the companies he has run.

N2S

Apologies - for the lack of response. I won't really answer in detail as I'll literally be setting out a bear case for the company. I'll just mention:

1. Lithium oversupply fears in the short to medium term. Cape Coast is the most advanced of our discoveries but lithium prices in general have been suppressed due to a boom in the number of developers taking projects to production, hence the focus now on the highest grade product.

2. Macro - couldn't look a poorer horizon for junior explorers and aspiring developers. Survival of the fittest will come into focus.

3. Gold - whilst more promising our projects are early stage and require much more time and work. We won't feel the uplift in gold prices like a profitable producer would.

I think this because the company had £6m cash in December 2018 but the share price was still sub 20p. It has broken 20p since Feb 2019 and we've not been short of cash since then.

Columbo - take yourself over to the SolGold website. There is ample information there to support what the company is doing and when.

The company have taken a different tack with regards reporting. They pushed drill results and infill results out for months and months and months and it didn't halt the previous downtrend. In fact they were pretty much disregarded, despite being world class in some cases.

The fact you think this is going sour suggests you're not as caught up as you could be. The share price is just a number and at this moment in time, it's absolutely irrelevant.

N2S

The share price is weak for many reasons. My own opinion is that funding isn't in the top 2 or 3 of those.

Relative to some other explorers IRR are working on a shoe-string but they've a vast budget compared with plenty of others on AIM.

Please don't take this the wrong way but you regularly comment on the cash position, yet we're all invested in a resource explorer operating in frontier regions with no revenue. These companies rely on funds raised on the primary markets and there's no other option but to raise as you go; nobody is going to raise £20m and spend £5m per year for the next 4 years (or any other variation).

If cash levels worry you then you may want to look at plays leveraged with some producing assets. Even then you won't ever be able to rule out the potential for a placing.

I don't disagree with your "running into JORC on an empty" line but we're not inside the company. It's up to management to review all options available and given we've long-term and supportive shareholders, those options should be varied.

Agreed Swest.

I'd expect any raising pre JORC to be sensible.

If we assume IRR have £2.25m cash now, which might even be understating things, I expect that they've got 5 months at £400kpm spend. Takes us through to February next year.

Can't rule out a small raise to bridge us through to the JORC but it's not a concern at this level IMO.

Told you we were looking at a 21p bottom Master RSI... ;-)

It might get tested again yet.

Why N2S?

Have you forgot the Geodrill deal?

Good to see.

Let's have some more. Where are ya Ed?

You claimed 20p and below, we've skirted with the previous support at 20.8p. You really claiming that victory?

Also, lets assume you do know (we all know you don't) that chilling news is coming... why are you buying back what you sold?

Probably the best post I've seen on LSE, ever.

Gino - Nick confirmed in recent interviews that the large miners are still supporters of the company, particularly BHP. Newcrest have their hand in another pie a bit closer to home which understandably dilutes their interest a bit, but there's no indication that they're reducing in the market.

We're still sailing in the face of various headwinds, fears of recession and unsettled trade dispute between the US and China. This has caused copper to weaken (and gold to rally).

I'm very confident there will be a renewed vigour around this company from Q1 2020. MRE3, PFS and hopefully a regional permit or two to allow us to get started there.

The Italian

There are hundreds of millions of good reasons why running the company into the ground isn't a valid explanation here.

If anyone is wondering I'm talking about Nick's 90m personal shares and those of DGR Global, Samuel pty Holdings etc.

Come on guys, don't lose sight of the facts.

Nick and co are there to manage the company. They aren't there to manage the SP.

The same applies to all management teams of all listed companies.

This company has a strong track record of delivering and that should be taken on trust until the situation changes. A bit of patience is required.

Except you can't buy shares on one exchange and sell on the other ssmith_trader...

Check the statements Kezzman. £7.5 in payables and then an additional £4m in secured loans.

Maybe the £4.2m is based on the latter.

Based on the statements released today.

Long term debt > 12 months = £2.1m (includes c.£2m to directors)
Debt due within 12 months = £ 11.5m

That £450k profit and £5m cash held might struggle to cover it...

All systems go for KSZ.

Cheers D220 - the landscape for REEs is encouraging.

KAV being main market listing does help at a corporate level in a number of areas. I'd recommend reading the latest annual report if you haven't already. The resounding message is that we have a resource company with some perspective ground pegged, an experienced management team and geologists with skin in the game.

Salaries are well controlled and stock options are sensibly priced to allow growth for all shareholders.

We just need that discovery / proving of the company's hypothesis to light a fire under this. The catalysts are there.

Me neither D220.

We've had drip sellers and a few buyers in recent days so it feels harsh to mark us down 10-15% on where we were.

This isn't going to make anyone rich overnight but as a pure exploration play I struggle to find many if any better options at this level. I've also topped up this week and have another order lined up.

The company recently added optionality with the copper licence MOU in Northern Botswana on the KCB. Botswana is their chosen playground and they've amassed 4 different plays all with promise.

Whilst the Ditau assay results were a slight surprise given the XRF positivity another door has opened with the fenitization discovered. As Mike M said this week a carbonatite has roughly a 1/9 "chance of being likeable. With Ditau have at least 10 of these structures we have to be hopeful we can turn something up.

This is the sort of company at £2.5m mcap that upon the right news and in the right market conditions can grow exponentially. I'm not saying we're in the perfect storm yet but it cannot be too far away.

No disagreement there Master RSI and you may well be right.

Lets see how it plays out.