Member Info for Dan1605

There are no guarantees notrex but I think you've made a very good move and you got a bloody good price.

A great post HITS, appreciated. In my view this is a typical case of buy on rumour and sell on news and there are many other similar cases out there where a company has gone from explorer to profitable producer yet sat at historical lows, UJO and EOG to name a couple. Profitable stocks are not attractive to traders as the peaks and troughs flatten out over time reducing opportunities to make money. Unfortunately AIM has never been a platform for investment and therefore until these companies become big enough to make it on to a bigger stage we're stuck where we are in the hope that value will eventually play out through II investment. GSA are well aware of this which is why they increased their short position.

True :). Anyway, lots to look forward to.

We'll give him that one Cashking and forget about the millions spent on HR3 that AH pulled the plug on.

We need something prior to Hurricane Tamer. Part of the deal is shares at 60 vwap, that we means we need a rise and sustain it.

Very well put Legal. There's also a possibility that they could push for a JORC on Hurricane and open up a RBL like agreement on the reserves which would release some cash. I'm not sure they could achieve JORC with one drilling campaign though, catch 22. The mechanics of the deal however are a stroke of genius,

130 - 400k in cash,

ECR shares at 60day VWAP,

100k only when we announce a JORC

2% Royalty capped at £3m - when the fields are producing.

So, this could potentially hit us for 130k + shares which will hopefully be higher through Lolworth. The bulk of it could be paid through Royalties and only when JORC registered. Now, could we ever envisage Tang putting this kind of deal together.

Excellent summary Notrex, certainly sums up my thoughts. We have a couple of what appear to be extremely encouraging assets but we're can't go in as hard and as fast as we'd like due to cash and that must really frustrate AH, if only we'd had the millions that CB had in the account. Going back to Creswick would be a total waste of cash. IF we can flog the Philippines we're laughing - is there any way we can find out the price tag?

you read the terms of the deal and you think ah has played a blinder... until you come to this.

"for the financial period ended 30 june 2022 (unaudited) placer gold generated profits of a$35.5k (c.£20k), had a turnover of a$95.8k (c.£54.6k) and gross assets of a$32.5k (c.£18.5k)."

i may be missing something here but why are we paying £3m for a company that's barely turning a profit and has no assets. as i say, it's late and i'm reading through a s***** so could be missing something.

It certainly was, it took a good 10 minutes to fill. Suprised when it went through at 2.30.

I bought this morning at 2.30 and it was NT to buy, trade not showing.

"who do you have a problem with receiving those fees"

I hope this is a joke Paul. We pay each board member a salary and we're told that board members are committed to the cause. What are they doing outside of the contracted hours that they can't do within their hours?

Put it this way.. you're a business owner who appears to be paying more in overtime than through contracted hours yet productivity doesn't increase, would you be happy? "Consultancy fees" can bring many advantages.

Creswick is finished Tamer, twice we've drilled and twice we've failed. That's not to say the gold isn't there but it's too nuggety to prove up and there is next to no chance that AH will go back there imo, unless Queensland flops.

Agree with every word Nicepair. CB wasn't a Geo and my guess is he was easily led by AJ who pretty much had a free run with cash on tap. You can just imagine the MO - "you just find gold and don't worry about the cash, when we need to place I'll just make up some BS story about a JV".

Thankfully AH is a Geo and AJ can no longer pull the wool.

If you read my post from around that time Snip you will see that I posted about the "jewel in the crown" comments. Watch the video back from last Summers investor show and look at Andrews face when that line was mentioned, it as clear back then that he didn't believe that. That was CB phrase and along with everything else has proved to be BS.

A lot needs to happen before we see 2p but I'd be disappointed if we didn't see 1p+ should we go down the JV route. The last 20 secs of that video was very cleverly placed either to provide investors with yet another carrot to catch or to give us the "watch this space" nod.

I have a fairly good average notrex but I have had a holding for a long time, granted I've reduced and added over the years but this stock owes me/most of us a profit. 2p is achieveable here.

I personally think the brokers/MM were short. I've seen this countless times on the stock over the years where the sp gets screwed down only to spring back by 50%. Some think this doesn't happen but it does and one Broker is well known for it. I think this may be happening again which would explain why we've had no TR1 and seen more stock sold than being held by a single investor. If you think back before Hurricane we were seeing 1m sells daily, I for one blamed the Chinese yet we had no TR1. History is repeating itself and if this is the case then we're due another spike.

I don't think so Tamer, AH was asked specifically about a JV not so long ago and he clearly stated there were no plans at the time.

IF and it's a big IF we do get a partner then it will be with somebody AH has ties with imo, either currently or previously.

Well AS is shouting 2p on Twitter so he's either lining himself up to be a hot lunch or he's aware of catalysts to get this to 2p.

I've always called this as I see it notrex and whilst I'm reasonably positive about the future here I'm also fully aware that the future of this company hangs on one guy. We say what a state the others made of it when Craig passed. I agree about the pay cut but sadly that won't happen. Interesting though that they can't buy shares yet could excercise their options if we hit 1p on Tuesday.