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Agreed. But bear in mind there was a long wait before the termination of the Mid Western and the establishment of the ELI deals were announced. The mind boggles as to what rabbit is going to come of the the hat next. And if it's going to have any legs...

Are we going to run a sweepstake here then, guessing on the possible outcomes.

1) Tri Ri has bottled out and deal is defunct. (Most likely scenario)

2) Tri Ri has sent the money to a Nigerian Prince, who has done a runner.

3) 1) + OF has tried to recover by going back to the Mid Western deal (if that's possible, re NNPC)

In the event of 1) surely SLE becomes a cash shell, and Tosca tries to recover its investment, by whatever means. That would give some respite to us small investers, as they paid about 60p/share.

Any other scenarios welcome.

This may be old hat to most posters to this board, but a quick resume of Tosca, who effectively own San Leon, if not in fiscal reality.

https://en.wikipedia.org/wiki/Toscafund_Asset_Management

They've been quiet in the extreme (publicly) on all San Leon's trials. With their profile, you have to wonder what their opinion is on all of this.

It beggars belief that there's been no communication on this debacle, but it just underscores what little fish we are in San Leon's pond. Tosca will be fully informed, no doubt.

My own price tracking graph is showing a very discrete double bottom at 82p, 13th & 15th. This looks quite insignificant on its own, but in my experience, it has often been a prelude to a significant rise. Hopefully, not tempting fate here, but hopeful for a decent showing in the New Year. Hairy Crimbo all, and may a decent return come our way soon.

36800: The key to SLE is "exploration". If you went through all the companies listed on AIM, present and historic, you'll find a similar story. The current opportunity is always going to be the big one, until it isn't. Check out Challenger Energy. Previously Bahamas Petroleum Company, under which banner it was the sole operator in what was "rumoured" to be the biggest oil resource since the middle east. Which came to nothing. Now operating at the mouth of the River Plate, where it has ostensibly hit big. But the share price hasn't moved in months.

You pays your monies, and take your chance. If you don't like the downside, put your money in the bank.

Is he still grinning like the cat that got the cream...?

Agreed. but it's not in a state to be sold anyway.

"As previously announced, TRAM has confirmed that all conditions precedent to its investment have been satisfied and San Leon has accordingly requested draw down of the US$125.0 million convertible secured loan from TRAM (the "Loan"). In this respect, TRAM has confirmed to San Leon that funds are in the process of being transferred from TRAM's bank in North America and San Leon has since received confirmation that payment has been made. San Leon expects to receive the net proceeds of the Loan shortly. "

The shares (44m+) Tram are getting are priced at 30p (vs stalled market price of 16.5p). Is it wise to speculate that they're priced low for tax purposes, but are expected to rise over time? Just noted that warrents for a further 62.5m are priced at 60p.

Worth noting that there will now be a total of 495m shares in the issue (+62.5m warrants) as opposed to 797m which would have been the case if the Mid Western deal had gone ahead, i.e. more jam in the pot goes to us little people. Speaking of which, has any figure being issued of the potential income from Eli?

With issuing of TRAM's shares, and the commencement of drawdown on the loan, are we now set to go back to the market? I need a new car...

RE: " at what price will we open?". The big question, or maybe not, depending on your scalping propensities. What price can be attained is the elephant in the room. Our new buddies have been given options at 60p, so at what price do they foresee exercising them? We're no longer seeing the whopping great dilution in terms of shares in the issue, which makes things less painful. Two months till we get the keys to our new house? Very frustrated, but we can only wait.

Berenberg raises Griffin Mining price target to 130 (120) pence - 'buy'

I think it's fair to say that OF's endgame was not self-ruination. He's been chasing opportunities, which have been cast off as a more lucrative opportunity has caught his attention. It's been a VERY bumpy ride, but it looks like we've got the keys to our new home. What would be a nice-to-have before moving in is a set of accounts, and the re-listing of the shares to see if the market's convinced. It looks like the big players have won big, but us little guys are still very much on the side line. Anyone got any opinion on when the accounts are likely to be complete? We were waiting on Marwester and/or MLPL weren't we?

It would appear that yesterday's large rise was on the back of a company self purchase of 32000 shares at 94p. Fantastic effect, but it needs a stream of buys to maintain buoyancy. The only way that will happen is with a dividend policy, but I fear China is going to remain at arms length to most western fund managers. An exit strategy is a good idea, but I'm reluctant to abandon this before the new mine opens. Not sure if we've got a target for this.

Oooooh! Retirement! Should I dare with the current climate! Every rise is followed by a substantial fall (in the general market) I've permanently got my eyes on that goal, just want to see a clearer road ahead. Wish you all the best, and a long and happy retirement.

Just issued an RNS owning up to having acquired 5% of Quilter (apparently in various guises). Confusion re: 1) recent broker cut the target price to 70p as he reckoned there was more (costly?) reorganisation afoot and 2) an Emerging Markets Trust buying into a UK company? Are we now a second world country?

Sorry "NON-executive director"

Nothing to see here. Fantastic results. Future looks brilliant. No dividend, but targeted buy-backs. Funnily enough, just after executive director transferred his shares to his own holding company...

I need an exit point.

Still bouncing off the 200 day ma. market's not convinced yet. may at next resullts?

"conditional upon the ability of San Leon ability to successfully source/select a $50mio loan facility from a suitable supplier before the end of August 2023"

Ouch. That's a hell of a caveat. Particularly as we're at 24th August.

A lot of movement in the last week. Unfortunately, with gfm, speculation is futile. We've seen a lot of rising and falling over the last year.

Very likely a response to slower growth in China, plus increased isolation of China, politically and commercially.