Member Info for dai2belts

@No1, are you painting the dried walls yet ;)

There is a note 23 referred to, yet I can't find, twice word searched "23", probably missed it..

Going concern paragraphs, in more than one place too..

They foooked up acting on their NOMADs advice

@Crusty, thanks...

Thats blurry, initially states they expect to be able to meet commitments until Nov 24, but funding required for additional work programmes like drilling.. Then later, suggests based on existing ability to raise expects to be good for 12 months..

@Crusty, do you have link to the statement made suggesting risks around He1 not being considered a "going concern".. ?

Only near financial risk I can find is related to the next drills, and the company states it has cash..

Come on, January is just the month after December, typical He1 ploy ... sure its the 3rd year Jan has been slated

@Horult, so He1, there is 130% gain before the 2.4p buy target..

MMmmm, big rise then gap to fill, sounds to good...

@Tro, not a bad price, you could probably sell them end of the day..

Do you think this drop is just retail selling, or unseen forces ?

Spread looks close to 6%, and update seems just a possible change in contributions, making it easier for Boil to raise their share...

I have no idea if it will be bought, as the peak this morning was +25% off the recent lows

Very over wordy

Well we know MOUs can be worthless, then its states conditional..

Starts off saying "Farm-Up will have a value to Baron of approximately US$8.5 million in reimbursement for prior costs and in the offset of future spend".

So they put the least significant amount 1st, $1m cash back, followed by $7.5m contribution to costs..

Later explain costs have increased from $24m to $32m, which is big ask being double Boils MC, so probably why partner is contributing more

Just 6 weeks

The MOU shall terminate with immediate effect on the execution of the Farm-Up Agreements or midnight on 31 January 2024 (whichever is the earlier to occur), unless extended by the parties.

The Farm-Up Agreements will be subject to two conditions precedent

(i) approval of the Farm-Up by the Board of Directors of TIMOR GAP E.P.

(ii) approval of the Farm-Up by Timor-Leste's National Petroleum Authority(ANP)

@Joe80,

With comments like that, how come you invested when it was £60m..

@ForrestGump, that seems to be the case here, even for the new entries since the last update

So who is selling, those cutting their 10% losses ?

@No1, I hope your working, doing a fine job for your customers

They placed 3,000,000,000 new Ordinary Shares and raised gross proceeds totaling £600,000

CEO took £80k.....probably indirectly out of the £600k..

How are they going to be able to raise enough for that drill..

16m, now

Who is selling as every buyer will be down, surely most will be betting on the funding bounce, and at least 2p into drill, even 3p

I just look at the price down another 10%, 11m vol already..

The longer the funder holds out, the more upside they create, or more of the company for less... I wonder if they had access to the data room..if that ever existed....

I put some info on the BB, a filter that passes water blocking helium, and a plant in India that produces helium from hot springs, nobody followed either up... Suggests the fundamental investors have dwindled, and its a traders share ..

Boil, Binding MOU ?

but conditional ?

drilling costs up from 24m to 32m, MC 16m, sounds like partner is taking on more of the costs to help out..

Update mentions its worth to Boil, 8.5m, but sounds like just less to commit , and less to raise...bare the $1m back later..

@BloodyRedBaron, its already there . £10.8m

Cash Box. like treasure chests, like PortfolioPower has under his bed, under the sink, top of cupboard, bottom of the garden, big ones too.. ;)

Mines empty,

Copper and gold

@Tro, tomorrow we find out.... maybe

Constant downward pressure after Tai results, update was fix and resume drilling, Itumbula and back to Tai, so 4p on historical prices and events.. but sub 3p, then the killer funding announcement...

Will we get the funders name ?