Member Info for CrustyPete

What do you mean you never thought we would still be waiting.... you predicted the end of Movember!!

You may be right BF. I guess to.ortow's movement will give an indication....

It is good a guess as any. Was it "on market" or "off"? Majedie would be "off market"....

Yep, looks like it. Same as yesterday. Well if you have many millions to sell ypu are only likely to get away with it in a "bull" market.

Reminiscent of Phil Thompson in the run up to NT2.. Is it him again? Or maybe our erstwhile CEO?

Only joking!! ;0)

No frank not "spot on", not quite - the spread and mid price has not changed one iota. The "trick up" is purely due to there being a UT trade being the last trade for the day.

As a comparator Aminex have estimated a cost for a 24 km onshore pipeline at $30m which indicates a cost of circa $1.25 million per kilometer. It may be that some costs are fixed and as a result the marginal cost per kilometer reduces as the length of pipeline increases and of course some costs may be higher in Congo than in Tanzania. But nevertheless I would be happy to take a rate of $1.5 million per kilometer as a reliable guide.

A small but material piece of the jigsaw put into place - how can this not be viewed as good news. It surely puts the issues of a lack of funding to bed; if the deal gets ratified of course.....

The point being Ufufuo that a 4x share price rise is meaningless as the difference in sp and the number of shares in each company means that any comparison is pointless. The reality is that one rose by far far more than the other in "real" terms - that is in terms of market capital; that fact that the sp rose by a similar multiple means nothing as they each started from totally different places.

But no matter - life is too short.

* should have read "no longer have KN1 income..."

"Also, we now own less of Ruvuma...but holding 25% didn’t stop Solo achieving comparable gains to us the last time around."

This really does miss the point - Solo had 25% of Ruvuma whilst AEX had 75% - But Solo had only one quarter of AEX Market Cap, So NO Uhufuo Solo did NOT have comparable gains. AEX Market Cap rose by (Circa) £200m and Solo only £50 million....

Since ten we have the prospect of lower Jurassic targets and $5 million and $35 million "credit" BUT we no longer have KN1 and no longer have any cash in the bank and ho knows what the outcome of the PSA review will be and the effect of that on future income.

In my opinion these do not totally compensate for the loss of 50% of our Ruvuma prospect. However I do expect a good rise on the completion of your list of potential developments. A big factor though on the effect of these on the sp / MC will be the waiting time between them. A potential 6 month wait for C1 spud and any short term sp rise is unlikely to hold, in my view.

Hence the height of that potential short term rise will be dependent on the C1 spud date being in Dec/Jan. Do I expect that to happen? No more than 50:50 methinks.

Full ask paid for £57.75 worth of shares! Looking at the trading for the last three hours or so most of the bigger trades have been sells. That said, the sp seems to be holding, so maybe there is a buy order in the background; if so it acts as a double edged sword - it will keep the sp up despite the sellers but will limit the upside until the order is filled.

The next hour will provide clarity. IT would be lovely to see the sp finish here.

Yes trrime that is entirely true but neglects that possibility that a) raising the £1m can cost a lot of money b) that, unlike gold, the "value" of some purchases is very difficult to put a price on. That should be self evident to anyone that has been a shareholder of Solo or AEX for the last 10 years as, over that period all of our assets have been hugely discounted by the markets when compared to our share and therefore market value.... So the company raise £1 million to buy and asset "worth" £1 million only then for the market cap to reflect the acquisition at a huge discount to it's purchase price. Usually because the return on the investment involves exploration or appraisal risk, time to market and typically a large capital outlay before offering a return

As this purchase involves an immediate return through an income stream let's just hope that they view this acquisition differently.

GLA

Another BG? Or more likely the other side of the earlier trade? In either event the sp is rising and that is all that counts. It has got above 1.5p twice before and not held; let's hope that today marks the watershed...

It is a great shame that Solo is currently suspended, particularly, as looks likely, the License Extension is to drop before the suspension is lifted. AEX has risen some 25% since Solo was suspended (and likely to rise further) and if Solo too had risen 25% I would now be back in profit on my Solo shares!!

I do believe, as many others do, that Solo will rise significantly when trading resumes but it is a pity that we Solo shareholders are missing out on the AEX excitement...... ;0)

GLA

It is only three weeks or thereabouts since the half year report; do you really want the BOD to issue an RNS that says, words to the effect of, "we are issuing an RNS to let you all know that absolutely nothing material has happened since the last RNS only three weeks ago...." ?

What we are experiencing here pales by comparison to the Aminex experience. Having somebody contracted to do a job and getting them on the ground doing it are two totally different concepts TT - as you well know.

It will come - just a bit of patience required methinks.

"So, if I am right, what do you think will happen to the sp in 2/3/4 weeks time if that spud doesn't happen in December Frank? That was your question wasn't it? So what would be your answer?"

Answer the question Frank

"clearly you are short term, very short term" oh really Frank? Clearly? The only thing that is "clear" is that you do not have a clue what you are talking about. I have been here for 10 plus years Frank; is that long term enough for you? Compared to that you are "clearly" just a "short termer".

My "opportunistic attitude" as you call it was simply a response to your question - which was what I thought would happen to the sp over the next 2 or so weeks - it has NOTHING to do with what I will be doing with my shares Frank - Is that clear enough for you?

Best you don't bother asking me questions Frank if you don't like the answers.

I have not been "offloading" Frank - I have a "strong buy" flag on at the moment and for the first time in many many months.... but whether I am part of the "rinse and repeat" brigade is NOT the issue Frank. You are the one, above all others, that drones on and on about the R&R brigade, so surely Frank YOU would be the first to recognise that many people here will not hang on until next May or June for the spud and so IF we do not get C1 spud in December there will be lots of money jumping ship for a shorter term horse to back. I am not in that camp Frank but it does not mean that I am blind to the likely tactics of many others and it would be stupid to do so. So, if I am right, what do you think will happen to the sp in 2/3/4 weeks time if that spud doesn't happen in December Frank? That was your question wasn't it? So what would be your answer?

"but is it going to drop in the next two weeks or so"

Well let me answer that question with another question - if we do not get a license extension before the end of October or early November when do you think the earliest we will be able to drill C1? June 2020? If that is the case how many people will continue to hold it beyond November?

I will leave you to your own conclusions.

Ignore the quoted spread Frank and look at the actual trading - the mid price is nowhere near 1.475 and hasn't been all day. We will have to test that 1.50p mark a few more times before we get through it - without news anyway.