Member Info for Bridgedogg1

The Company has conditionally raised £1.77 million before expenses (being £1,750,001.25 in an oversubscribed placing and £20,000 as subscriptions by certain Directors) through the issue of 416,470,880 new ordinary shares at the Placing Price. The Placing Price is equal to the price of the Company's ordinary shares at close of market on 17 September 2021.

The Company has entered into a Placing Agreement with Shard Capital Partners LLP ('Shard') under which Shard has agreed to use its reasonable endeavours to procure placees for the Placing Shares at the Placing Price. The Placing has not been underwritten.

The Placing Agreement contains warranties in favour of Shard given by the Company with respect to its business and certain matters connected with the Placing. In addition, the Company has given customary indemnities to Shard in connection with the Placing and its performance of services in relation to the Placing. Shard has the right to terminate the Placing Agreement in specified circumstances.

Application will be made to the London Stock Exchange for the Placing Shares and Offer Shares to be admitted to trading on AIM ('Admission') at 8.00 a.m. on or around 4 October 2021.

Hopefully we won’t get pulled down today by association with ujo. Maybe they will switch into here with more focused wressle exposure at a low MCAP?

IAMGOLD are a large company, they aren’t interested in our spread undeveloped licences only senses and how it relates to their own project. They have been happy enough to put in over a million this year and I see no reason why they wouldn’t continue on expected 2 year earn in.

The issue with ORR is that none of the grades are that exciting to even a constant flow of drill results doesn’t get this moving.

The share price is now approaching pre pump and dump levels, so anyone saying I he current SP is low, well it’s all relative to when you invested. It’s difficult to blame the bod for it, they are doing a solid job working steadily to realise value from the assets in a prudent manner.

The recent patterns of trades are certainly unusual for EDR. Whether it’s a renewal of interest following wrestle or frustration with the share price there’s large trades on both buy and sell sides. A takeover or merger with UJO makes sense. I often think all these onshore UK oilers should merge and do away with the millions that go on salaries paid for the same decisions over the same licences. Even if wrestle only flows at 500 bpd a £10m takeover of EDR would be good value. Add to that the share in analogous fields which surely must now have a higher value and COS following wressle. These UK companies have struck upon a magic formula where they hold a wildcard overseas asset where the potential is huge if only a larger company would farm in but nothing seems to happen, along with onshore UK licences that produce a small amount of oil to justify salaries and further placings and a MCAP between £10m to £20m. The total value of placings usually exceed all income from the wells but never mind that. However with all that raising behind us wressle flow rates and the current POO makes EDR look undervalued and a prime takeover target.

If the UK wasn’t so hard to drill in EDR and UJO would be worth multiples of current values. As it if it takes 6 years to get a well drilled, all the while we buy tankers of oil from the over side of the would polluting the worlds oceans.

I’m fairly optimistic about EDR now, we should be easily able to repay UJO in Jan 2023 when the loan comes due, in the meantime plenty of news flow to come outside of the wressle update expected next week.

I can see EDR worth over £20m by mid 2022 if it hadn’t already been taken over by then.

Actually explorers like that dont usually hit the old hype highs. Look at 88e, plenty of hype on 1st drill then subsequent drills the uplift got less and less. Increased dilution, lower expectations. I also expect that the chumps who invested at the top wont have much money left to invest the next time around

Can see this going down to the 7s

Would have been better if we have set out how we are going to pay for the new facility and timescales. No revision of estimated gold for the year which is just bonkers now.

Investorblog, you didn’t include the ongoing court proceedings.

Look at the feasibility study and the value of the mine to whoever owns it.
Best case is Kod get licence approved and an amazing finance deal to build the mine and processing plant which is then done very quickly without issues. Worst case scenario KOD don’t get the mining licence or military government cease to recognise overseas investment in national licences.
Mid case is licence takes ages, kod have to give away a large chunk of the project to get financing, takes 4 or 5 years to get the mine and plant up and running with complications on the way which cost money and kod start mining with high debt levels.

What are the JVs actually worth to the company?

The grades just aren’t hhreat are they? Not too bad but the gold price would have to be strong to justify a stand alone operation

Can we know the grades if the gold hasn’t been extracted yet? It’s not a simple facility to process the extraction - how long will it take-how are we going to find it?

I am right in thinking that if projects are spun out to be listed on their own then the value here will fall proportionately but we will hold part of the new holding?

Remember this has already tripled in the space of 3 months so growth may be a little slower now

Lots of positives here but remember it has already tripled in price over the span of 3 or 4 months so growth might be a little slower now .

Fundamentals are strong, if we can break 1.5 then 1.8 should come quite quickly. The we will see if news flow can push it into the 2s.

Troajan, if we didn't have £50m off debt I'm sure we would be valued at £50m more too

SO production guesses need relooking at?

Tin concentrate of 7.9t is 19% less than July due to reprocessing issues impacting recovery. Measures are in place to continue to resolve this

What is the 'issue' what are the 'measures'. Come on, we are the owners of this company and we would like to know!

Production needs to double from Q3 to Q4 to remain on track.

Getting a bit bored here, cant see much happening in the short (1 year) term?

Lol you might be right but look at the value of the project after financing, then look at the current MCAP. No sane person would buy at 1p but this is kod investors so…