Member Info for CF73

steward, that argument about GR nicking Circum or Zulu has been regurgitated by certain kinds of folk for a long time. It's when they start on that track that I make up my mind I ain't entering into any constructive discussion with them. For them, it's a chance to fling more mud.

Good podcast. Helping to make sense of things a bit more.

Good luck all!

Have to excuse me responding about Circum funding and Newco in the same post

From what I'd previously gathered, Circum has pretty much arranged/secured $500millon debt finance and were looking for $300million via IPO.

On how we would raise the $6million, yesterday's RNS stated debt, equity and/or assistance from PREM. With the latter, I'm assuming by possibly selling shares in Circum. Equity is one other usual route. On the debt front, I wonder if the government can help? Looking back to the link I posted last night, with the excerpt:

"Mines and Mining Development Minister Cde Winston Chitando, who recently toured the mine, said results of the recent resource evaluation exercise are encouraging and pledged government’s commitment to support the firm to raise funds towards resumption of mining."

http://www.zbc.co.zw/rha-tungsten-mine-set-for-re-opening/

The question is, then, in what ways are the Zimbabwean authorities looking to help? How will this pledge be realised? Might part of the answer come from here?

There is also, as Tedoby points out, offtakers. Possible offtake partners have been in long discussion with PREM over RHA (and likely others). This is something I have heard a few times in my contact with the company. The role of offtake partners has been little discussed here but it is likely to be a major piece of the final funding jigsaw.

The proper Newco deal is actually a genuinely solid workable and transformative response to a difficult situation. After having thought it through, extremely comfortable with it, along with the PREM/Circum cash shell proposition.

The recent drop was over cooked. We're now coming to terms with the plan. Looking for an initial recovery and then the webinar and subsequent news.

I'm agreement IQ157

...now that's getting really interesting!!

If those tweets were in error, folks not think they could've been deleted??

Good luck all!

Best wishes on the birth of your baby Charlie.

Bluevista, it could be that FRR and Block are simply raising awareness of the interest of Super Majors. If it is not the Super Major they are not working with, it would certainly have at the behest of the Georgian authorities. This since it would not be in the interest of FRR (or Block) to promote a Super Major they weren't working with and neither their responsibility.

So either a) Exxon is who we are working with, or b) we have been asked by the Georgian authorities to help with their PR

I wonder if something BIG is about to be announced very soon :-)

Apologies IQ157, you are right, our market cap is only £11million. Crazy!

Yeah, we will recover some of the ground lost tomorrow.

Our market cap at the moment is £17million. So, no, its not factored in.

Any Super Major. Just my belief that it's Exxon. If it turns out to be BP, then I'll be happy still, actually very happy.

Good luck all!! :-)

Malkster, I ain't panicked.

Good luck to you regardless.

theprod, it may well be about raising awareness of Georgia but FRR would still need to get clearance from the Super Major they are working with. If our remaining Super Major weren't Exxon, how might they feel about FRR tweeting about them?

Although it may not in the strictest sense contravene the NDA, it'd be necessary for maintaining good relations to keep them in the loop, including seeking their 'approval' (even if it is to let them know).

However, this is further signal for me that it is indeed Exxon. They are working with Georgian authorities. No other Super Major has made headlines recently about their intentions in Georgia, and the Exxon representative referenced Georgia as a whole and not just West Georgia...

Good luck all!

The SP has dropped because the market has, initially misread the potential of the proposed deal.

We will see a correction in the coming days as the specifics of the propose deal sinks in. We also await news on RHA ownership.

I also think we also hear something about further funding (and I don't mean dilution) - but that is speculation on my part. Folks need to come to their own conclusions.

FG, your presupposing they haven't got the necessary permissions/approvals to have done that...

...you can presuppose all you like...

RNS or no RNS tomorrow morning, looking forward to the significant rise tomorrow.

We are due a rebound/bounce tomorrow.

Now...wouldn't it be something if there was a 7am RNS?! :-)

bedex, whether there is a deal beign announced in the morning or this is a 'clumsy' play to keep the SP in range, they would have needed to have gotten permission from at least the remaining Super Major. It would've been a new level of daft if they hadn't. And judging by how ZM/FRR have conducted themselves of late - clinically, I might had - I can only conclude that this is for good reason and with the necessary support of [prospective] partners.

FG, if you think ZM/FRR have made a school boy error such as posting that without the permission of whichever Super Major they are working with, then you're the one making the schoolboy error.

Now, in the words of 'Keevin the Keegan', if an RNS landed tomorrow morning, "I would love it!"