Member Info for Bridgedogg1

"happy to be wrong...but I don't think I am on this..."

You have been casting doubts over the flow rates for ages. They said it would be 500bpd and it has flowed at 500bpd+.

You must be VERY happy...

Is that not the same as reporting $1m revenue without giving details?

The number of placings, loan, grants, facilities etc.. here is beyond belief. Are we still rolling up the interest payments to Blackrock?

I know we are ramping up but at what point does the mine pay for itself and cover all the current costs - including financing? Why not include more details on finance in the quarterly reports?

I'd like to see a £500k raise asap

This company hasnt done anything on an asset for over 10 years. Happy to be proved wrong.

Just to confirm - KOD dont have a mining licence, a mine or financing for a mine?

And finance costs?

The question is how much is that $1m currently costing to produce?

Another lot spiked in here

Plenty of good takeaways from the UJO update. In particular the comments on Biscathorpe which is estimated to be worth around £20m NPV net to Egdon 'the largest unapprised discovery/prospect in the UK'. 2022 should be a good year with some high impact drilling, all the while revenue will be rolling in. Overdue a re-rate here.

My biggest problem recently is understanding why we have given away a large chunk of North Kelsey prior to farm out? Its supposed to be similar to wressle.

This could hit 0.25 before anything happens. Needs to hold at 0.5p to build a base for steady SP growth Or spike from 0.25 imo

Thanks GP

Am i right that we are not allowed to flow over 500bpd unless we get further authority to do so hence the choke back?

Cash flow terms - £20m. EBITDA at full capacity in 2022 - expected to be exceeded due to comodity prices.

However this excludes the cost of financing which is key for WRES now.

The ramp up looks like it is proceeding as planned, many many investors waiting for the financing to be sorted before investing as there is still significant risk here imo - but that does mean that the current price is attractive for those willing to take the risk. Still, it contines to drift down and expect will do so until Q4 figures are reported in 2022.

Some basic maths, but for £1,610,000 the note holders are getting 31% of the company, we are then paying them £900k in interest for the privilege. This means that 31% of the company is actually worth £700k, valuaing the overall company at £2.2m. Seems like the worst deal ever, especially at a time that we have the highest cash flow. IMO this is an asset grab and raises questions over the BOD relationship with the largest shareholder.

Why not just do a discounted placing? At £7m mcap could have raised twice the amount and not paid £1m for the privilege.

Shard research reports are basically paid for advertising, nice round up though.

Director interviews dot com

….. ***************************/egdon-resources-wressle-oil-increase-transforms-cash-flows-with-strong-prices-interview/4121019158

Post wressle interview, rundown of other projects:

14 Feb 2020 £2.5m placing
26 March 2021, the Company issued 1,525,000,000 Ordinary Shares of 0.025p each at 0.05p per share, plus a
further 4,475,000,000 Ordinary Shares of 0.025p each at 0.05p per share on 12 April 2021, together yielding net
proceeds after costs of £2,768,000.
On 17 June 2021, the Company issued 1,157,202,885 shares in exchange for the remaining 15% of the ordinary share
capital of SundaGas (Timor-Leste Sahul) Pty. Ltd. not already held, at a value of £926,000.

6 month admin expenses: £424k
Acquisition of intangible assets £900k
Acquisition of subsidiary and associated undertakings £889k
Directors' and employee benefit expenses £220k
Director's severance payment £53k

Director holdings:
Andrew Yeo 62,600,000 168,850,000 1.61%
Jon Ford 15,000,000 22,500,000 0.22%
John Wakefield 20,000,000 20,000,000 0.19%

During the period, the Company purchased technical services amounting to £nil (30 June 2020: £1.346; 31
December 2020: £17,096) from Tedstone Oil and Gas Limited, a company controlled by Mr Jon Ford, a director.

According to its filing Tedstone Oil and Gas employ 2 people:
HUGH JONATHAN FORD
EDWINA MARIA FORD
Who are also joint owners of the company.Jon Ford is a Geophysicist, his wife (I assume) doesnt do anything.

According to TEDSTONE OIL AND GAS LIMITED latest financial report submitted on 2019-07-31,the company has EBITDA of £1,098.

So the new directors have gone in and been provided with the same info as the old directors and surprise surprise - no magical resolution to the fact that the company can produce enough cash to meet its debt obligations.

I know extraction is a known unknow but can someone please xplain how in August 2021 we have no gold pour but it has been confirmed that: "The Company remains on track to achieve the target production of 25,000 ounces of gold for the first eight months of production, with first gold pour expected to occur in Q3 2021"

What 'first 8 months of production? That should have started in April 2021 but irrigation has only just began (we assume it hasn't been confirmed) and as stated we don't know the extraction method. So what's going on? Its not enough to say 'someone else is going to process it' - process what? - has leaching begun? have we produced material? Are we storing it? Are we in negotiations? What are the likely costs/time scale. How are we going to produce 8 months of gold in th e remaining 5 months of the year when we are so far behind?

Not meeting the first year guidance, reiterated in July will be a huge red flag for investors, hence the low market gap relative to the 'potential' here. As far as I'm concerned all we have is 2 big piles of dirt so far.