Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
They had £1.4m last December (2022). Six months later (June 2023) they had $428K left, having spent over £660K on "Administration". Champagne & caviar ain't cheap y'know!
Aug 2023 they raised another £1.4m. Assuming they spend another £1m in this six month period, it looks like yet another fund raise next year. Gotta keep the carrot in front of them gullible investors.
Random drilling and dubious pictures of cores with "gold" sparkling through them seems to be the modus operanti of this pair.
I strongly believe WSBN is a "lifestyle" company for this pair & I hope they're reading my posts :(
We need cashflow, which means: concentrate on THE best target, and ONLY the best target, drill it, prove it up, and then either mine it, JV or sell it!
Duster? No problem, move onto the second best target and repat ad infinitum until we strike lucky or strike out.
Admin expenses are a disgrace!!!!!
Rant over
RNS out and the usual pictures of drilling cores rolled out, and barely any movement in the SP.
So utterly predictable.
Nobody believes RP & Gasbag any more.
Every year a few "drills", a few "pictures" and the inevitable fund raise to keep thaty pair in champagne.
IF I ever break even I'm out. What a dog of a share.
Perversely, I really, really hope I'm proved wrong, but I won't hold my breath. :(
Aaaaaaaand thank you! Already in profit on Diageo. Only took an hour.
I'm also well in profit on Afentra, but the best is yet to come................... :)
How's your short doin' Adams? Lol!!
Morning all. Just bought a chunk at £27.45. Never thought I'd get 'em so cheap ;)
Sell is overdone methinks. Buffet will likely take advantage this afternoon. Also means any sharebuyback is excellent value for money.
Long term ISA holding now.
GLA
Oh, and I've also put a decent chunk into Diageo at £27.45 about 20 mins ago. It's massively oversold so it would be rude not to take advantage. Never thought I'd get them so cheap. Today's lookin' good for me :)
Rex
You gotta be hurtin' JAdams/MetricMan!!
I can see the flames from here :)
Oh, and I've bought another large chunk this morning, which are staying firmly in my ISA for the next 5 years.
Burn baby, burrrrnnn !!
Hey Adams, you still haven't answered ANYONES'S questions. Why are you here? If it's not a good investment, maybe you should leave?
Very nice NED buy this morning - £45,000 worth of shares. Maybe Adams should tell Gavin he doesn't know what he's doing?
Rex
Also, we have 2P reserves of 32.9 MILLION barrels of oil and 2C contingent of 20.1 MILLION barrels of oil.
Now, disregarding the 2C contingent, that gives us 32.9m barrels. Evan at a conservative $20pb that's $658 MILLION! or £535 MILLION Sterling. That works out at about £2.43 per share.
That provides nothing for the 2C contintent 20.1 MILLION barels, onshore Somaliland or our other 40% share offshore block.
$40m debt? It's NOTHING in the scheme of things!
You're a blatant shorter Adams. If Afentra's so bad, why the hell are you here? Honestly, we'd all like to know?
Rex
MetricsMan/JAdams5000,
"what happened to the reasonable posts about debt"?
Your seriously taking the urine, aren't you?
All you've done is state falsehoods and lies, consistently, with zero counter arguments. Constantly bangin' on about "debt", whilst conveniently ignoring the many TENS OF THOUSANDS OF BARRELS we've been accumulating for the last 18 months.
I've never seen so many posts from you! You must be absolutely brickin' it !!!!!!!
I hope your short on AET wipes you out, totally!
This share is a STEADY RISER through to Christmas now. :)
Rex
JAdams,
If you think AET is non-investable, then why are you here?
Simple question, care to respond?
I think you're a dirty, nasty, selfish little shorter, but that's just my opinion (and probably everyone else's). Enlighten me if you're not.
Rex
PS. I've taken a serious dislike to you & your tactics, but hopefully it isn't showing :)
WARNING WARNING WARNING!!!!
I think MetricsMan is TerryMC/JAdams 5000.
He's only been a member since 29 Sep 23 and his portfolio pie looks REMARKABLY similar to Adams.
Also, do not hit reply to the losers messages - it only helps him with his saddo messages.
Rex
Brilliant news!!!
At over 6000bopd that gives us circa £80million profit per year!
Add in the last 18 months of production & our replenished reserves and we're flying !!
Also, there are other deals being looked at right now.
I easily expect £1+ per share within 6 months.
No wonder Terry/JAdams has posted TWICE this morning, he must be furious. Quick! Someone call the fire brigade, his shorts are up in flames :)
Rex
We've been accumulating profits since April 2022, that's over 18 months worth of profit in the bank!
We've not only replaced our reserves, we've actually INCREASED THEM by over 150% !!
STRONG BUY/ACCUMULATE before the deal closes (next month at the latest).
Squeeze TerryMC/JAdams pips till he cries :)
Rex
TerryMC/JAdams5000 is getting seriously annoyed with all the positive posts , Lol! :)
He's brickin' it 'cos he needs to cough up a huge amount of dough very soon to cover his naked short :)
Hey, TerryMC/JAdams5000 - I'm STILL buying regular as clockwork!!!!!! Feeeeeel the burn you saddo!! :)
Rex