Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Further to my last, this is taken from yesterdays RNS:
"Additional holes drilled at Cottesloe continue to have visually encouraging results".
To put that into context, I was having a coffee in a shop the other day and a "visually encouraging" young lady sat down at the table next to me. Needless to say, that never happened either.............!
The cores look pretty. Isn't it funny how they almost look like lumps of gold running through them (for those that don't know what they're looking at).
I think we're being gaslighted on an industrial scale here. Always "jam tomorrow" with Poulden.
We had £480k in June 23 & raised an additional £1.4m in Aug 23. Total = £1.88m in cash.
"Admin" expenses in the 6 months to June 23 were £665k. Assuming the same for this 6 month period, then we have £1.21m in cash going into January.
We have no gold "discoveries", no income, a laboriously slow/delayed drilling season & no Red Setter Assays (very overdue now!).
Expect yet another fundraiser next summer, alongside some nice pretty pictures of random cores with promises of Eldorado.
If it ever gets to 3.4p, I'm out.
Oh, and I haven't sold out - no idea where you got that idea from......?
The market is clearly waiting for the official sign off, hence my belief we'll drift a little bit - and as we're down over 3% today I'm probably right. I'm sure it'll tick up during Q1, which I'm happy to wait for. If it goes low enough, I'll top up again.
I have money in ECO because they have acreage offshore Guyana, Namibia & South Africa, which is currently the hottest plays on the planet right now. They're also in farm out discussions with at least 3 or 4 supermajors right now as well. They also have potentially 1.77Bn barrels of oil. It's worth a small punt.
I'm happy holding AET for the long term & happy with the near term potential at ECO. So what's the problem?
Or do you only invest in one share at a time? Me? I've got over a dozen individual companies right now.
I amost forgot, the 770mbo & the 1bbo taken together, value our shares at 1.9pence each. Yes you read that correctly.
Most oil in the ground is normally valued at between $1-3 per barrel. Assuming the 1BBO is correct, we are currently sitting with approximately 5 barrels of oil PER SHARE. You do the maths. :)
This "could" be a 100-300+ bagger, it could also be nowt. Place your bets ladies and gentlemen, place your bets...........!
It's almost at CAD 0.15 now & the sp is sitting at almost a 12 month low. Don't know what difference it makes at this stage. Buying now guarantees a low buy-in price.
As for Guyana, The American supermajors are all over it, do you think the US Govt will just sit back and let Venezuela steal it? The US Govt are all over the threat as we speak. Nowt to worry about imo.
Yep. I've topped up (trebled my holding) ready for the move up.
If ECO can land a farm-out it'll shoot up. If they can land a couple, it'll shoot the lights out for a while.
Don't forget we already have 770 million barrels offshore Guyana & a further "potential" 1 Billion on our SA blocks.
I'd rather be in early and wait a few weeks/months, than try to buy once it's rocketed.
Just my strategy, each to their own I suppose :)
Having just re-read the RNS from 12 Oct & 4th Dec, it appears the 4th Dec RNS was a feeble attempt to detract from the Assays. RP talks about last year's drilling at Red Setter, next year's planned drilling at Red Setter, a cyclone that happened 8 months ago and a fabled mineralisation strike, coupled with a few coloured slides that look pretty.
He says NOTHING about the overdue assay results, just regurgitates crap about previous drill results. This is peak drilling season, if they have a 3km "strike" why aren't they drilling it NOW? And where the hell are the Red Setter assay results!!?
He's stringing this out for as long as possible with "could be, "should be", "possible strike", "similar to Telfer", "similar to Havieron", "in the paterson". All Bull**** so he can keep miking the cow.
Seriously unimpressed now. Results arre 2 WEEKS OVERDUE!!!
Rant over
I've sent them the following message through the WSBN website:
Hi,
You stated recently that the Red Setter assays were due in "4-6 weeks". We are now well past the 6 week point nowand all we have is complete silence from the Company. Can you please advise why no information is forthcoming?
If the results are delayed or the results are disappointing, then say so, and allow investors to make informed decisions regarding investment. Wishbone management set the deadline of 4-6 weeks and should act on the self imposed deadline given. This lack of information is not good & shows Wishbone Gold management in an extremely bad light.
Thank you
I think everyone should message them & put pressure on management to start communicating with us in a professional manner.
Rex
The Schedule One doc has been amended from "mid December" to "early December".
Early December, to my mind is 1st to 10th December. ie, by Monday.
"Mid" December is 11th to 20th December and "Late" December is 21st to 31st December.
Therefore news by Monday, yes?
I'd prefer news tomorrow, that'll give everyone the weekend to think about it, followed by a significant re-rate from Monday onwards.
Despite an RNS stating a 3km long strike length, the sp has barely flickered.
Cottesloe will be no different, I suspect.
It seems long suffering shareholders have seen through the "jam tomorrow" tactics of this pair of charlatans.
Looks like RP & Gasbag have finally flogged this one to death.
Shame really, I needed 3.4p to get out.
Defo needs new management with focus & an honest intent.