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40% of trades today automatic trades, many at 21.4 price range earlier. Yesterday had large number of autotrades as well, also at 21.4. Volumes also haven't been low, so doesn't feel like an artificial drop to me. All seems to support what some others have said about there being a persistent seller offloading at these prices, keeping sp down.
I have full faith in PJ, and it's good he's keeping abreast of concerns. Agreed that this is an important question to answer, and I'm sure that he will - plus explain how he balances his interests in POW against his interests in new vehicles.
Hardly interrogates tho, as implied. PJ needed to answer a few specific, important questions... Messr Green just complied!
Oil prices declining 6 days in a row probably playing an important part in recent pullback here. Also, Fed indicating yesterday tentative plans to taper further down the line could either be a catalyst (suggests economies are on track, oil price to rise) or drive us down (small caps no doubt take a hit when cash dries up).
If we learned anything from the previous drill it's that news leaking is really not something we have to worry about ... Both loss of drill bit and hung up wireline seemed to become known to market only in RNS (hence significant drops only then and positive buying right up to then).
Not just risk reduction: you're missing out the key point, as pointed out a few posts back, that an extensive drilling campaign to prove up the resource requires... Resources! Cash to drill. I'm not sure what a good exploratory drill campaign costs but it'll be a good few million $, money which KAV and POW don't necessarily have at their disposal. What some posters have suggested is the possibility of an initial set of drills, nothing too expensive but enough to perhaps show 'proof of concept' that'll entice investors on a raise.
That being said, value obviously lost in giving up % of the asset. Remains to be explained in detail but I'm not worried: both BT here and PJ at POW are heavily invested in their respective companies - they'll want to maximise value.
Last point: PJ mentioned a while back in some interview that it's unlikely that shareholders in POW will get shares in lieu for new IPO companies - mostly because they would be listed in different jurisdictions (e.g. Canada), but if Kanye IPOs in the UK could be a different story.
... anyone with experience in the field, is it a quick affair (e.g. mostly automated, or obvious interpretation when looking at it) or will it require substantial time and input, maybe even independent assessment? Be interested to hear what it's like, poring over the charts as they emerge!
Thanks Trek, greatly appreciated.
Hi all - new here, only have funds for a small position now but hoping to free up soon and shift some across, this looks super promising. Quick question, regarding upcoming / ongoing July drill campaign. I can't seem to find anything in RNS or prospectus about number of holes, location, depth to be drilled. Is there info on this, or are we waiting on the company for more detailed info on how the drill campaign will proceed. Thanks in advance!
Don't think they've contracted a drill for this yet (or at least announced it), unless I'm wrong?
Just added a first small investment in CCZ now at this price - company looks sustainable and news flow over next couple of weeks seems extremely promising! At placing price seems like a no-brainer given the additional info that new investors now have. GLA
On warrants being a double-edged sword, as AquaeSulis01 calculated we've got 54,250,000 @ 0.7p to roll in over the next five months before the 10/12/21 deadline, that's almost £380,000. That's a sizeable chunk of cash still to come this year, hoping that PJ has some good candidates on his desk ready to go - so we could get some new acquisition announcements in addition to the IPOs... got a feeling going into the end of the year will be positive.
thanks dai, not as ambiguously worded as I first thought. The company is in a great financial position - and a strong bargaining position to if a sig discovery is made. cheers
There's lots of discussion of whether appraisal will follow at Tai or the original exploration plan will be stuck to. As far as I'm aware, we are only funded for the 3/4 well exploration program and at least ONE well for appraisal; I haven't seen anywhere a commitment to appraising ALL wells, even if they each involve a discovery - and the gantt chart / timeline seems consistent with only doing one well appraisal. I don't think we have the funds for a full appraisal program for all wells.
In which case it might make sense to go straight for appraisal now, conditional on there being a discovery at Tai-1, which would allow for easy cash raise in the future should we undertake a further well appraisal following (hopefully) further discoveries.
Is this correct?
From last two RNS it looks like they're aiming for both Golconda and FDR projects to spin off this Autumn 2021 - and I'm thinking they'll need much more clarity re timelines for the fundraise and build up to IPO. So hopefully we'll get some ideas in the next two months as to when in the year those projects will be drilled - I'm guessing end of year, which could combine with KCB then. Possibly one helluva Christmas present
copy the name of intended filtree, click on the filter tab just above the chat, paste in nickname, click 'filter chat' button, and awaaaaaaaaay you go!
super, thanks
I haven't posted much, holding hopefully for long term (slowly accumulating) - but would be keen for a Telegram group.
Re timelines, I imagine when they spin off into IPOs they will have to give potential investors much more clarity re the specific exploration/ drilling campaign steps and timelines, so perhaps we will get a better idea once these spinoffs 'crystallise' ;0 ... which leaves me wondering when they plan to do this ...
crying out loud just filter!!!!!
:) happy dayz
market makers making more money! they'll be happy to scoop your shares every second week if we keep riding this panic rollercoaster