Member Info for Dan1605

To be fair Mental it's the biggest threat to investors at the moment but it's just hearsay. These markets are brutal and with low volumes MM are taking the p*ss.

It's not concluded yet, we've still got this to come. Oh and the conversion price is not guaranteed to be 0.6267. The only silving lining here is that Panther will not want to convert to then be diluted.

There is no buyer Tamer which is exactly why we're sat in the .30's, if there was we'd be sat in the 0.60's. Look at the chart, the sp started slipping after the last raise, now, do you think those that bought at .90 are still holding? Doubt it, it dropped to .70 and they dumped the lot.

Without putting a dampner on things I doubt there will be any rally. The market isn't stupid, it knows cash in an issue, sort that and it will add 50% in a heartbeat. Let's also think about the timing... boots are only just on the ground. There are samples to take and assay before any drill targets can be determind. Then there's the drill pads to lay once they have the targets... we're talking 6-8 weeks at the very earliest.

Drilling in September but yet we've heard nothing on sampling. I'm going to rewatch the interviews later but i'm pretty sure there were some rock chips taken back in June yet still no results and no mention in recently podcasts. I've also asked AS and AH and no reply - very odd.

This board is becoming somewhat toxic. I think everybody's made it perfectly clear that's everyman for themselves but let's try and at least work together to get out of this trap unharmed.

That's the million dollar question Snip, do they raise now and sell the Hurricane story or risk hitting a duster. However, AH could actually be playing a blinder and using Lolworth as an insurance policy IF Hurricane turns up nothing. Nobody knows for sure but for anyone to sit and say it's game over at this stage is b*llocks.

I guess that's what they're hoping to do Legal. This will also have implications on the Blue Mountain deal, I can't see them being too happy with a conversion price to then be diluted. Perhaps they could offer us a loan lol. AH will not want to raise unless absolutely necessary.

That could well be the strategy Legal providing they get the first holes sunk by the end of September but the reality is they're down to around 300k imo which is certainly an issue. There was some hope that we may have flipped an asset by now but that hasn't happened. I can say with confidence that Luca does hold shares but can't speak for anyone else.

That's probably still the case Legal but based on cash on hand in March and cashburn rate, they will run out of cash in December unless they can sell an asset.

The problem is selling the assets Mental, you can't see what nobody wants to buy and I can't imagine AH being the kind of guy to start running a Dutch auction. The reality is there will be a raise within the next 6 - 12 weeks and a open offer will be the best thing for shareholders and it might just achieve a higher price. We all know that the likes of Novum would go straight for the knees.

In that case Notrex I suggest we call contact the BOD and request and raise goes via a open offer, I appreciate some may not want to partake already being underwater but at least it means we have the same opportunity as the brokers. We're all sat here like we're on deaths row, there is something we can do about it alleviate the pain.

I doubt there is anybody expecting a profit right now Notrex.

Yes, always a possibility but they are leaving it very close Tamer. I think we should push AH for a rights issue IF it comes to it.

In my experience Snip, juniors aim to have enough cash to last 6 months, at the very least 4. Based on cash burn of 85k/month (assuming they've trimmed back) we have enough cash to see us through to December which has always been the known. However, they will not let cash run under 3 months and therefore we're running very close to a fundraise IF they can't sell an asset in the next few weeks. I suspect they're desperately trying to flip an asset and hold off a raise for as a long as possible.

Sorry £300 - £350k - wishful thinking!

Around 600k - £700k at a guess.

Now is absolutely not the time to go rocking the boat, I for one am far from happy about this bods past performance and I would gladly kick Tang, Davenport and some some degree AJ off the decks but now is not the time. We cannot give this bod an excuse not to deliver and if we go calling EGM's that is exactly the excuse they will use should it go t*t's up. My biggest concern here is cash reserves which will now be getting close to a point of discomfort. Now, what if they were to go for an open offer or rights issue, how many would take it? Just a thought and I for don't want the bod to think that we're happy with a raise but if it came to it then we should absolutely push for it.

It's a lack of volume Luca, the order book is actually primed for a rise but it's the time of the year where there is virtually nobody trading. The lack of news on the asset sales is a concern, we can't ignore the fact that cash will be running low.

Where have I said there's a 80m short Notrex? I've suggested there could be short and that there is a question mark over 80m shares so lets stop with the false statements.