Member Info for Bridgedogg1

I think Energean will come to the onshore if the drill is successful. That would add very nicely to the value. People will be surprised by how much new flow we have in the near term; Seismics, onshore and offshore drilling, flow test/producer this year, $10m imminently, then $15m on FID with $85 million gross carry.

It wont be tit-for-tat, this is a business arrangement with contractual obligations. If the courts have to decide then so be it and in the meantime we get knew contractors in. I dont think it will come to that. I also think we have the monies to pay them, they just havent met their performance targets.

We've been 'duped' by a court ruling? How does that work.

I certainly wouldn't trust the info from long term holders who are 95% down. If they had any info about the business they wouldn't be LTH would they? The fact is this is in a much better position than it was yesterday. Thats all thats changed.

I'm not in at the moment so take this as you like but I just cant see the result being positive. There haven't been any indications that I have seen that advertising content creation is experiencing a recovery? Have I missed something? What are holders hoping for?

"The Company is seeking to engage with Corica and in discussions other stakeholders, including additional mining contractors, to find a resolution to the current issues and to fully restart the operations at Kouroussa as soon as possible."

Its only been a few days. We were out for almost a month due to the diesel issue in January. The thing that has bitten us in the @ss is the company not being upfront with what was going on. Clearly if the first gold pour was June we should have been at full production by December. We must now be at commercial production. If Corica walk away now then they have no chance to reclaim the monies owed under the contract.

Every company the CEO has worked for in the past has a deal with one of Elon Musk's companies

Just a delay to mining, so far lasting 2 days. Not really worth half the company value when we are producing 90k oz even with it not running.

All we know so far is that we have not paid the contractors for breach of contract and we are discussing delaying the first debt repayment with the bank.

huge over reaction considering this was already priced very low.

Because the mine has already been paid for and is operating (when contractors are on site)

We dont know where we are with production good progress should have been made. Clearly the dispute is over back pay for not meeting targets which we have rightly withheld.

Some desperate derampers on here wanting to get in lower.

Expect some buying under 6p!

Wow you can buy into Hum for the same mcap as here and they are doing 100koz per year ramping up to 200koz once immediate issues are sorted. Absolute gift atm. This one looks very over valued in comparison.

Petro, you sold out and now posting snippets from old RNS. Are you so worried that it will go back up while at the same time warning everyone it will go down?

Nothing has changed financially other than no material settlement payment.

This is already priced to fail but is a very valuable business with very valuable IP.

Note that while Corica have a number of high profile clients and projects these are all outside of Guinea. I expect the central higher ups will now be looking over the terms of the contract and realise their best option is to get back on the job and bring in as much experience and kit as required to save financial and reputations loss.

Should hear something soon imo

Think I’ll see it all the way through and see what happens

The unaffected patents must be worth a sizeable sum relative to the current mcap.

If the settlement payment isn’t material then it must be a nominal amount because anything over £50k would be material at this stage.

Clears the way for financing and realising value.

Had to add some more on the back of this.

Got some at 0.92p earlier. Market currently unable to out a value on this which is understandable. Potential for a huge rise once the fog clears.

Well at least to you read it

I wonder how much we’ve already produced at Kouroussa this quarter. Despite the delays must be atleast 5,000-7,000ozs. Plus any gold held in reserve. Even if Yan comes in at a low 15k the hedge shouldn’t be a problem.