Member Info for DanBrown83

Hope so, but we are waiting on news
too many people jumping to try and make profits elsewhere

maybe a bed and isa???

Following the discharge of such liabilities and transaction expenses, it is expected that the Company will retain total cash of AUD$958,000 from the Proposed Sale. The Company will have no other significant assets or liabilities.

thats £535,000 (just over 0.4 a share)

surely the main priority is LCCM
this has the best chance of generating a decent cashflow, more than enough to cover all general expenses within SML.
surely put Redmoor on hold, keep Cobre operating as is, its a difficult one to say what to do with Cobre but while we need the cash from large customer to resolve all short term money issues, the expenses aren't overly onerous on the company to keep the operation ticking along

my 2.2p average looks a long way away now

there was two 156,250 share trades
one definitely a sell as it was 15.5p
the second one looks to be a buy, i wonder if it was someone having to rebuy back (possibly a Short and a Close???)

Hi Quitie

That is true, got 6 months with no actual monies in to ADME other than the Placing Funds
Q1 next year, there should be some funds made available to ADME
The current 2 wells in operation run dry in 2-3 years based on the updated CPR Report and Production Rate, which probably give £2m - £3m in actual profit to ADME (less ADME Overheads in this period)

Quitie
Its very minimal information from all 3 in regards to the field development plan, it is the next major RNS we need to know - i have said this a number of times but this still hasn't been released (due originally end of Q1, then by end of Q2 and now we are half way through Q3 and nothing tangible) - this isn't down to ADME to produce.

Closer to £250k in 3 very large sells today
tbh - with them sells, the SP hasn't done bad, but shows us smaller PI's are at the mercy of some bigger players

Stefan stepped down and it sounded like they wanted him to remain as Board Member
He was in the process of selling his shares 6 weeks ago

was a delayed sell and reason for drop :(
no worries here, my average is decent so i will just hold and wait for more news

Kentan been here a long time, hes certainly no insider, i think he is guessing with research and a long standing knowledge of peoples involvement here

I mentioned this a while ago that the current BOD / ADVISORS were too mingled
seemed they were all earning a pretty penny at MXO's expense and that is one reason why the MXO SP did do badly over the years prior to the sheikh

for what reason should it be suspended??

Donating funds to a Company - never happens
best you get from a majority shareholder will be an Interest Free Loan that probably be converted to shares
There are legalities in donating , even interest free loans is a big boundary

More than likely it was topped up to £500k from larger Investors contacted by Pello
£500k is enough to keep lights on until next year
RNS states working Capital / Funds to investigate assets and acquire assets, can't see what assets you can get for under £500k
Accounts wording did make out that funding would be required, we will see if HRH invested further
always going to drop today on placing news

This in my view was the main issue with KEFI
The issue with Ethiopia is the same with most African countries, take it with a pinch of salt, expect some corruption and backhanders to be going on, as long as the gold comes out and we get paid and gets to us shareholders we will make good money

I said originally when the shaikh first bought (over 4 months ago) that anything will take time to happen
Everyone said i was wrong, the SP pumped up to 8-10 times original SP (its still 4 x what it was)
Now everyone is saying how bad it is taking so long, it was always going to take time
AJE in its current format is a waste (£1m value at best), but has potential (basic Field Development Plan (£10m), we still wait for what i said was crucial - an update on plans for the full site development and also (reading between the lines) increasing the stake in AJE
My views are negative until i see the next stage of AJE or next Investment

In a Nutshell
Herencia are broke and couldn't pay the NOMAD who instigated winding up petition
LIND & DARIUS have come together, albeit it seems reasonable one of them wasn't forthcoming 6 months ago, to provide a further short term cash loan to Herencia, 2 months (likely 3-4 months in Herencias case) to keep the lights on, remember these two parties have now invested multi millions (it does seem to me they are chucking good money after bad) - now the monies have settled, formal resignation of the NOMAD & Joint Broker has happened, Herencia have to get a new NOMAD and further finance sorted in the next few months, fending off winding up petitions is likely very close to the final nail, they haven't done any work on site for nearly 2 years now and last update they were still in arrears on their options, without any financing it is extremely likely these are still well in arrears.

6p without Newmont News is fair so still undervalued
If Newmont News lands - depending what it says we could be easily over 10p
did this few weeks ago but this time seems a bit more stable, wonder if some pre-lims got out but further work is been done to formalise results

we just have to hope the CBD goes well
last chance from me, hard seeing hard earned income go down