To attain Orion`s interest in Thor read the RNS 29TH March 2019 .re Thors acquisition of 2 small Australian companies with gold interests .I believe those companies were Orions. If that is the case its in his and our interest for these companies to be progressed as gold is forecast to pass US$2000 mark this year.
In the situation we are in it would make sense to swop our 16.66% of West Newton for shares in Reabold as I see it. They didn`t achieve their target of acquiring the anticipated holding in Rathlyn that they wanted so this swop would place them in a very strong position ongoing. We wouldn`nt lose out on the future developement of the project and could get more involved in the Wressel and Bisacathorpe developements.
The RNS confirmed DB was in the process of sounding out the raising of £5 with certain existing and possible new investors . This information which would have been confidential was then leaked to the market. At this point DB was in a no win situation. If he`d done nothing the rumours would have continued . Unfortunately by informing the market officially the city spivs etc have had a field day by selling down and being helped along by posters and clowns wishing to get in on the act constantly quoting ridiculously low placing prices. I don`t see what else DB could have done differently in the circumstances . Suggestions of a suspension have been made but no definate decission to go ahead with the placing had been made.I don`t believe DB is involved in any conspiracy and to make such a suggestion I find wholly unjustified and abhorent. I am currently losing heavyly here but thats the name of the game , If we had an efficient regulatory system this situation wouldn`t happen . You can get away with blatant fraud and have very little chance of a conviction.
We have no need to raise money until early in the new year as our £2mil in the bank will meet the immediate current planned expenditure as I see it. With the Wressle outcome hopefully going our way mid to late December this should give a boost to the share price . By then the current hysteria should have subsided.
I`ll go along with that. Short term traders come and go , a large majority end up losing and disappear.You only hear from the current winners. Market Makers love them as they are the ones who gain . We have great potential for a small oil company run by DB whose judgement I trust. I don`t believe in this talk of conspiracy regarding the placing . It will be done when DB decides its needed and probably around the current price at the time.
RE: Posts being removed re information from the Co24 Oct 2019 14:06
The SP won`t reflect the value of our Assets whilst we have posters trying to damage the image of the company. By all means vote for changes and make yourself heard at the AGM but don`t ruin the company`s chances of recovery in the meantime. To stand a better chance of selling Molyhil ,Bonya needs further work to get an indicative resourse estimate .
Whilst I agree the BOD have performed poorly I cannot see any evidence of criminality .Shareholders had been aware that a placing was required around the end of the year and with the climate for such placings becoming more and more difficult its best done early. Once brokers circulate possible investors news leaks . This is probably why Mike informed the market so then it became public.
The share price has been drifting through the time its taking to finance the Molyhil project . Michael thought it right to inform the market that a fund raising has commenced . In this way everyone ,not just the brokers know its happening so we are all on a level playing field.If he hadn`t issued an RSN more speculation about a fund raise would have caused more damage to the price and given an advantage to the shorters who would have privalaged knowledge. I think he did the right thing.
I don`t see anything sinister in Chris selling more UJO shares as he`s almost certain to be participating in the Reabold placing and needs the cash to do so. UJO `s price will soon recover if the placing is a success.
Part of the delay in finalising any deal was caused by thr acquiring another prospect Bonya which is close to Molyhil and could supply the proposed mine with another source of tungston thereby lengthening the life of the mine by at least another 3yrs. I think drilling is still continuing. I agree its all taking too long as shareholders are losing interest.I`m still holding as the potential rewards still outweigh the risk as far as I`m concerned.
THR`s assets are worth many times the current share price in my estimation . Their Molyhil tungston prospect requires around $40 mil to develope the mine with a payback period of around 18mths but finding finance is not easy especially when the company has a market capital of only $5mil.If Mike can get this project financed then the THR price would take off.
If that is the case don`t you consider the Auditors have issued their statement a bit prematurely?Very unproffessional don`t you think. The oil find is too recent for them to have made such a judgement as you would have us believe.
Woodstock1970. In light of the recent oil discovery at the West Newton sites how have the auditors come to the conclusion that the find is not viable.I hadn`t realised they had the required expertise to make such a judgement when Rathlin as operators still don`t know just how large a find this is.Testing is still continuing and the necessary information to make such a judgement won`t be available until its conclusion.
If we could get finance for the Molyhill project it would draw attention to our other assets.It seems nobody apart from our current shareholders are aware we exist .This is rediculously undervalued and the reason I intend holding .