Member Info for David1951c

Latest news is disappointing and words such "is pleased to" and "delighted" do not cover over the delays and lack of clear and reliable timelines to really make things happen. AIM has changed even more in the last year and on many minor metal stocks the lack of news and long drawn out road to development has meant a crash in SP. Even companies with near term production such as WRES and SAV have low SPs and losses for many shareholders. With timescales for KOD likely to be years and not months it is unsurprising that some are selling. I am sorely tempted as I can only see more pain in next 12 months. There is little or no benefit for LTHs that I can see. News of more successful drilling and possibly larger resources tend to cause only a minor and short term spike in SP. What shareholders want to see is a clear path to success for the company. It may be asking for a lot but as with KOD and THR, the value in the ground is not much unless the plan to monetise can be seen and the true value capable of being realised. RNS does not really set out a case for continued investment that I can see. Will probably sell at a loss and look to come back in when (if) there is a more concrete and reliable investment case.

Never sure whether lack of news means bad news is on the way but I am inclined to think so! It must be a matter for the BoD and not just the chairman to ensure shareholders are kept informed. Surely something could be said about progress in last 4 / 5 months. At the last fund raise the RNS stated "the proceeds of the Placing will be used to accelerate production from the newly licensed Honduras gold facility, pursuing potential new opportunities and for general working capital purposes." So much for accelerated production - could the Board at least say that some production is happening. The low market cap means good news would have a significant uplift. I will hold for now as some news should be coming soon - good or bad!

…. causes me concern. The announcement in December stated "With all now completed Wishbone Gold is pleased to announce that the site is now licensed and operational. Wishbone Gold will accelerate production over the coming months and expect to be shipping to Dubai in the first quarter of next year." So we are more than six weeks since end of Q1 and no news. I haven't sold but the lack of communication from the company is very poor. Big question does that mean bad news when the next update is issued?

Unsure whether to buy more at current SP. It seems low given the seemingly imminent news but PIs don't seem to have enough faith in delivering value not helped by exercise and grant of warrants which seems to benefit others and not PIs. If production is to be stepped up in Q3 I might wait and see. It should come good but not sure when.

Good news yes but unlikely to move SP up materially. I would buy more but am concerned about funding. With such a low SP any raise would be small. It seems to me, only an asset sale or partnership will make a difference. I would be happy to know what the plan is!

With free cash generated at $1m per month plus gas $1m pa, the total in year one should be at least £10m and more when production increases. Mcap is about £30m and it is probably worth a lot more - how much depends on more buyers than sellers. Some will sell or top slice which will put a brake on the SP rise.

Swindon - thanks for recap. So far seven trades and less than 100k shares have dropped the price by 5% which seems an over reaction. Many people are frustrated by the delays and possibly some sellers are putting their money elsewhere or leaving AIM completely due to continued losses - who knows. I haven't got any spare cash to buy more so just wait and see. Last news said completion in Q2 so will wait for that.

What is the explanation? Good news surely and won't be long before some real production and earnings. I can only think that the lack of concrete information on the sustainable production level and when the tie in is expected cause some holders to sell and invest in companies with a more immediate return - impatience? It would be helpful to have some idea when the tie in will be completed and be operational. Announcements lacking important info and dates don't help! It may be only a question of time but waiting is frustrating. Buy some more if you can and if you believe this company will come good.

rates as a buy with possible first gold production in 2019. Great as I have a holding but I won't buy more until the funding of the steps to production are clear. The last raise in March caused a significant fall in SP and why buy now when a further raise if by equity and discounted will only lead to further dilution and paper losses. This happens all too often on AIM and there is no advantage to LTHs. As in the last raise others get in at the lower SP and holders are left further under water.

Since Feb 2018 the SP has fallen to 0.70 from 4p and MCAP to £6m from £25m. The reasons seem to be lack of a clear means and timeline to monetisation and the general big slide in many small miners evident on AIM. In June 2018 there was an explanatory letter to shareholders but nothing similar since. News continues to be promising but there is still a lack of belief that Thor will deliver. Sell off continues and it is difficult to know whether to stick with the investment or cut losses. If the board have a concrete plan to deliver value it would be helpful to have an update to halt the slide and maybe get PIs interested again.

With such a low SP and Mcap the potential is very good but how can the value be realised. Unless something significant is done and soon the SP will likely drop further and any equity fund raise would be at a silly price. Bringing in a partner or selling an asset to fund development may be the only hope! I bought more at 0.73 and hope not to regret it.

With the lack of clear visibility on the amount and timing, the SP will continue to drift. This is what happens on AIM these days. Potential income is significant from LG and other agreements but when? It could be a few years until really material income is received. I have a chunk of these (SIPP, ISA and Share account) and sold some to reinvest elsewhere. I believe this will come good eventually but others will get there sooner for me.

Who knows when testing will occur??? Looks good news as I am holding quite a few shares but when making this sort of announcement why can't RBD indicate timescales for testing. It seems a bit sloppy not to better inform shareholders. Surely they ask IMS or Sunset about this and have some more info?

Agree it is very frustrating that such good news which initially leads to a 30% uplift in SP, then leads to a lot of selling and SP almost back to starting level. Also agree this is now typical for AIM and it encourages trading which means a lot of volatility. Bought some more @21.68. It is similar with Avacta which has great potential too but getting a sustained higher SP requires more than good (or excellent) news. I guess it is possible that companies like these might receive a bid or at least enter into licence agreements or partnerships on product development. In the short term hopefully the SP will not fall below 21p. If so I will buy more as it is probably only a question of when and not if the true value will be recognised.

Most bad news on AIM tends to land on a Friday. Whilst there is still hope of a commercial prospect at Coulter South,
"The data from these well results will be used to determine the forward plan to maximise the potential value associated with the Colter South Prospect." developments are some time away. Some holders will sell to get an earlier potential return elsewhere. News on RBD's other projects cannot come soon enough as long as it's not more bad news released on a Friday!

Yes the numbers are small and impatient investors may be looking for more. The work at West Rustavi is much more material to production especially now with 100% WI. Of course timescales and outcome are uncertain. Whilst progress is encouraging and with increasing production the value and SP should rise, the choice for me is whether to sell part of holding (nicely in profit) and put into 88E and PANR with significantly more risk but greater and possibly shorter term upside. If they come off I can then put more back into BLOE. If 2019 production targets are met the upside should make this a good investment. Longer term and gas are potentially important but can I do better elsewhere in the meantime. Until recently I didn't trade much but there are no shareholder rewards for loyalty on AIM as I have found on IOG and others.

In January we were told that the company is fully-funded to undertake the work programmes at Norio and West Rustavi and subsequently expects to generate £13m of revenue per year, based on present oil prices, outstripping its current £7m market valuation (which is now £10m). The cash flow should increase and would likely cover the cost of the deal with GOG too, which is in three stages. With net production of 900 bopd the Mcap should rise materially with a successful work programme.

The short term fall in SP may reflect uncertainty of a possible issue of new ordinary shares at a discounted price. Until this or a farm out is resolved and it will take longer than previously suggested, some IIs may be put off. This is one of my largest (all modest) holdings and with such a low Mcap of £22m the upside is potentially large. AIM investors have become even more impatient and risk averse so holders have to bear the downs and ups.. I am glad one of my other holdings RRE looks to take off but not so happy about IOG which also at one stage looked very promising.

Possibly the SP increase fell back because of profit taking and nearer term opportunities e.g. i3 Energy, although the three month exclusive option with Shell in relation to Licence P2437 could well mean more good news before end of April. I took a small holding today intending to increase in next few months. The overall situation on AIM seems to be changing and these short term spikes on good news feed the traders but are dispiriting for holders. Cluff will come good but possibly not in a big way until 2020.

News on Romania ought to be expected soon as the last announcement only referred to experimental production which implies limited revenue. PXOG are not the operators but presumably are in regular contact with them. The concern always with these small companies is cash and funding. I have a tidy sum (for me) invested here and believe it will work out well but typically timescales are more drawn out than expected.