Member Info for CrustyPete

"no hangover" are you kidding? Do you seriously believe that all 1.61bn placing shares have already hit the market? Not on your nelly. There will still be an overhang come Friday in my view - not all will forward sell (it is both expensive and not always possible for some to stock lend)

Agreed McNol. Like most it was the scale of the discount that was most offensive but as I was able to load up at just above the placement price that is now water under the bridge for me. That aside I thought the interview was a good summary of what is to come and what we can expect; next piece of news to be confirmation of the arrival of all necessary long lead items and then, presumably, a date to kick off the EWT.

Good night and good luck one and all.

That is really interesting Nas-k, thank you.

MM's taking the opportunity to fleece the closing "day trades"? Usually happens. Setting a platform for another rise in the morning methinks.

I do not believe we will see this price below the placing price harrison - take a look at the Feb 7th placing the sp was 2.15 on the day before the placing which was executed at 1.5p. The sp never fell below 1.85p on the 14th and yet thereafter actually rose to trade between 2.1 - 2.5p - until the somewhat disappointing or at the very least inconclusive Itumbula drill results on 7th March.

I think we will see something very similar on this occasion with the sp climbing back up until the EWT results - after whihch all bets are off - sp thereafter will be solely determined by that outcome.

You will see it with the half year reports and accounts deep100. Just be patient. But you cannot claim that you weren't warned - they told you they were going to spend it and they have! And now here we are at the EWT. Just as they predicted they would. And yet all and sundry are claiming to be surprised and disappointed.

The only disappointment for me is the scale of the discount on the placing - if, as we are told, it was over subscribed then that discount was unnecessary. That aside NOTHING here today can be claimed to be a surprise.

04portia - you could have bought as many as you wanted at 0.51, 0.52 and 0.53 first thing this morning - who needs a placing.....? Many people took their opportunity now all and sundry are bleating when they could have done exactly the same. "But I didn't have any cash" they say - well you wouldn't have been able to partake in the placing anyway then, eh?

Maybe Rojo but he also predicted 1p by the end of May and the sp never reaching 2p so, frankly, he is a busted flush... he has wiped out.

Deep100 take a look at the RNS itself - it tells you there exactly what the £4.7m is to be used for:

"The company led placing provides the Company with sufficient working capital to progress its planning for the next stage of the work programme in Tanzania......

This placing enables the Company to determine the next stage of its work programme following the success of the Tai-3 and Itumbula West-1 exploration wells."

Hence it was as obvious as the nose on your face (for those that wanted to see it) that a fund raise was an inevitability before the EWT.

Note the words "planning" and "determine" and note the absence of the word "complete".

Yes and don't forget Basil that back in November there were only circa 800m shares in issue, so 6p then equates to circa 0.90p today :0)

Let's keep it "real" eh?

Not according the the "knowitall" king of the traders Buda!! They won't be able to sell any before Friday CP. Didn't you know that? Blimey oh riley if only I had known that, I would not now be in 25% profit... Damn

Well it sure seems you needed it chump, or were you just spouting tripe in the hope that you would not be found out...?!

Buda do you really not even understand the concept of forward selling? Selling shares today, borrowing the shares for 2/3 days and delivering on Friday? Have you never heard of that? Even the concept of a covered sell - selling shares you have today knowing that you will be able to buy them back on Friday for less?

Dear oh dear.

Well I suggest that many here will be holding more than Lorna! Me included.

Over 2 billion traded now CP.

Well let's be fair newbie, he was not the only one!

What do we think? I am totally unsure about what motivated the linkedin poster to include the Minster - revenge?! What purpose does it serve? It is hardly likely to do his share price any good is it if the Tanzanian authorities decide to take some action on the posters concerns. Though frankly I would be amazed if they do. They would have been kept very much in the loop. How many shares do you think that Minister and all of his acolytes have from the placing?! ;0)

No Basil it is not "enough said" otherwise the market wouldn't require He1 to fund an EWT at the cost of many millions of £££'s. No "commercial" validation without it and no expectation on numbers - until then is an "if" and not a "when".

To TheToe - but Toe many here including myself managed to buy far more on the market this morning at .052 and 0.53p than I would ever have been able to access via a traditional "rights issue" style placing and with none of the uncertainty.

I am already 25% up on my early morning purchase - but have absolutely no inclination to sell....