Member Info for Dan1605

Outlook - Another Adrian account. Time to get it booted off.

The losses are only consequential Paul. I pressume we don't have drill teams stood around waiting, therefore there is no extra cost to the business other than delays in exploration. The cash burn rate shouldn't increase until the second rig is running. Plucking figures out the air a little but a 200k rig would cost 300 - 400k if made in AUS.

The cost of building a rig in Aus would be incredibly high Paul. I working closely with the Aussies and even gettings things like timber is a nightmare. For a big country they have a lack of resource when it comes to manufacturing. Roughly 40% of their imports is machinery.

All the best...

I can't see AH going in too hard to be honest, especially if there aren't many takers. He'll also be keen to get cash into the business for Hurricane. That said, he won't give it away either.

You should try it on the front page of Drill or Drop HITS, you might finally get somebody to read it.

Great summary TS, absolutely agree about the 2nd Rig and Lolworth. Things are falling into place now and the recent cash boost was a pleasant surprise. April/May should be an "action packed" month with results coming in from Creswick and possibly Lolworth. Not long to wait, the price action is frustrating but we also have the Bluemoon assays that will drop in the meantime. This could be the best year we've had in a long time and I still think that the BOD will be targeting those 1.50p warrants before the Hurricane payment is due.

This is why they are determind to make this work. Get it done and their problems disappear instantly. I'd rather them keep going at this and take some dilution than walk away. As Push says, there are other options beyond this latest attempt.

HITS, Paul Forrest (if it's him) is doing what anybody would do holding that many shares, protecting capital. Believe me I loathe the guy but who can blame him.

Adrian, the only warrants left are those from 2021 - approx 35m which won't be flipped now as the lowest conversion price is 1.20. The latest warrants are locked in for 6 months with a conversion price of 1.65 so why would they convert at 1p? Think before you post. Different account, same fool.

Notsosweet/Adrian - you made the mistake of telling us you were planning to buy in next week. Isn't this the fourth time you've sold at a loss? If you're going to create a new account, don't just post on the shares you shout about on Twitter.

Why would Angus be bust? Because they can't raise cash? We don't know the cash position, we don't know if they need to. Those that were calling a raise 3 weeks ago are the same people calling one now.

They have lost though, 65%. Those cheap shares just got a whole cheaper. What happens if they raise now and the ST fails? There's not a cat in hells chance they would fall for that one. They took the last placing because Lucan thought they were passed the "risky part". One bitten....

Well the fact that they're already underwater on the last lot (shares and warrants) I'd say it's not exactly a "no brainer".

Well somebody made the decision to press ahead with the third attempt at the expense of shareholders if it goes ti*s up. I can't imagine GL stamping this off without consorting with the big boys club. There's no doubt they would have been part of the final decision and having thrown in millions in at 1.65 I dare say that they didn't take the decision lightly.

The selling's been there for the weeks Notsosweet, it was held at 1.30 for a while with good volume thrown at it. I've said for a while now that I think this is Paul Forrest.

It's acting like a company with no revenue. Don't think it's shorts but somebody has been selling down for weeks and my money is still on Paul Forrest.

You have to ask the question Push who is making the decisions.... You've told us what the problem is and offered a potential solution with one post so why is a technical team making such as mess of it. PI are wary of holding into a drill result at the best of times due to the very poor strike rate on AIM so you can understand why they're reluctant to touch this right now. What a mess!

Paul - look at it this way. If you were paying a builder by the hour who was stood around doing nothing would you be happy paying him? Likewise, if he ****ed the job up and midway through the project and didn't appear competent, would you consider getting somebody else?

Tang will get his payday whether he puts in the graft or not Tamer. He will be well aware that AH will want to run this business as his own and he'll be more than happy to let him imo.