Member Info for Bridgedogg1

Bought more, again..

One day soon I hope to wake up to drilling and funding update RNS and this will be 50% up.

https://www.thezimbabwemail.com/business/prospect-attributes-zimbabwe-lithium-exploration-success-to-mnangagwas-governance/

Investment will happen, possibly not from current discussions under HOT but these are not exclusive discussions, we continue to engage with other parties. We have 13 approaches from other companies so it’s pick and choose as we wish. It’s just a matter of time.

Just did a quick look and Atomic purchase was valued at NPV of $185m @ WTI $39.... valuation on here is crazy

Do we know why BFU FED 41-22V went from 45bopd in Nov to 0 in Dec I assume it relates to the pressure issue that is now fixed? Any extra oil we get out of the ground now is above the hedge so netbacks around around $70 per barrel at current prices. Bring on current numbers and August drilling.

Did you see the latest stockbox interview with George...

"current drilling strongly supportive of current DFS work we are doing"

Q: Do the results and grades here help with the JV discussions?
A: ( loosely quoted) "from a geological perspective a fair amount of the work has been done, these ongoing results are not adding or subtracting anything to that aspect (JV talks).. once boots are on the ground its clear to see how much bigger and where this deposit is likely to go.. more of a focus on how much bigger this will go to.. current drilling not having much of a bearing on it...the overall size potential is better understood now ... due diligence, accounting, legal are the issues being currently dealt with...getting it all to be compliant with IFRS .. they are procedural..."

Over 10 large companies sitting on the side-lines wanting a piece of this, do you think that a few extra drill holes will delay their investment? We are in Zimbabwe, largest hard rock Lithium discovery, Chinese are snapping these up, they know what's there, they have their own geologists.

Using the word 'calculated' rather loosely? You don't know. We don't know. Its a pure guess. I guess RUS in 5 minutes...

Current drilling has no bearing on current JV negotiations.

Still cant find the hedge info. How much and how long for?

I've been through the RNS and cant find the information on the hedge. Could anyone direct me to the appropriate document/update?

Thanks

Sorry £20m should read for FY 2022.

I can see there being a huge shift on Federal policy now, much more supportive of O&G E&P.

Bids growing exponentially, everyone else trying to catch up. Prelims due in the next few weeks:
Revenue is likely to be reoccurring so will just keep piling in as we scale up:
2019: 0.14m
2020: £1.7m
2021: £20m?
2022 Q1 - many large deals in the pipeline

I expect this will be 0.5p by the end of the week assuming it’s just assay results and not JV news. Very happy to be adding this morning.

The net proceeds of the Placing are currently expected to provide the Company with sufficient funds to cover its corporate operating expenses through to Q1 2023, as well as the costs associated with drilling three exploration wells on the TSHII site, as further described below.



Additionally, the net proceeds will be applied to cover the Company's expenses in relation to a due diligence exercise, expected to commence shortly, in order to secure funding of up to US$145 million to Greenfield.

Picked up some more, thanks

We’ve got plenty of cash and have already spent on the work and infrastructure for the foundation to build the company. Sponsorship deals are getting bigger and plenty more to come. I noticed there’s a few key games with big £ tournaments that we don’t have teams for, so that could be a further announcement due.

Outlook

· Robust pipeline of potential sponsors with several deals at advanced stages of negotiations

· Network audience continues to grow rapidly and on track to broadly double again this year

Harry said the current drilling won’t impact the JV deal which may give us some clue as to what gas been discussed. Ultimately we need funding to DFS, Production funding and additional drilling. I think the buy in deal will be along those lines with increase percentage at each stage. How much will we get? I would guess approx £20m in the initial round to DFS and then result of further drilling and other metrics will impact how much we get further then the line. Ultimately we don’t want to give away a percentage of un -discovered potential just because we haven’t priced it up, at the same time JV partner will be unwilling to pay for something that wouldn’t yet make it into reserves. Makes sense to fix cash payments and funding arrangements based on what comes out over the next 6 months. Don’t know really, could be 50% of whatever comes out for £100m along with costs to production. Arcadia as gives us a really nice comparison for valuation which is obviously at multiples of current share price.

Smith, surprised you are not more hopeful about the conventional oil drilling - potentially 2 production wells would be a massive boost to such a small company moving forwards. Oil is king at the moment. Of course depends on how much we produce if successful but even 100 bopd would be significant. I haven’t been to find any data about what we are targeting in terms of geology, production, if anyone had links would be appreciated.

Completely agree though that the funding would be transformational and put us around 2p-4p.

I can see Prem doing well next week from these levels. Should get a couple of cores and JV could drop any time ofcourse.

I thought the pipe line was more about the pressure, allowing a large increase in oil production.