Member Info for Edhellas

Free milling confirmation is nice (though expected).

All three target areas look promising.

We should see drilling commencing soon. The Labola project is huge, especially with the recent extension. We'll be looking at a couple of years worth of drilling I believe. It'the MRE results are already halfway to a feasible mine, and there's a lot more to explore. From the previous DFR RNS:

Commenting on the announcement John McGloin, CEO of DFR said: "The scale of opportunity presented by the potential of the Labola Project is underlined by the strong support of our existing shareholders and the commitment of our management team. This endorsement is an important step towards the completion of the Moydow acquisition.

"We intend to start drilling at the Labola Project in the second quarter of 2022 and will be updating shareholders as this work proceeds. Drilling to date has only covered a small part of the identified deposit and the next phase of exploration will focus on areas of known mineralization with the aim of expanding the current resource.

"We are progressing with the steps required to seek conditional approval from the Exchange and deliver an Information Circular to shareholders ahead of a vote to approve the acquisition of Moydow in the second quarter."

Made a mistake in my last comment, they are paying $18m for 80%. But they want us to pay $7.2m if we want to regain a mere 10% ownership. It's clear they have some confidence.

It's worth remembering that pre-India hype this stock was 4p. If the India train gets growing, great. If not, Labola and Bassala have a lot of steam left. Our market cap is lower than our cash + funding which is interesting. DFS consider $18m for an extra 20% stake in Labola to be a profitable deal for them. Just needs time to play out.

News flow is slow but positive, just need patience. Nice chunk of funding for the two WA projects.

Bought in on the Indian lottery ticket which has been very disappointing thus far. Mark is still confident in it though, and he has experience with the Indian government.

"Drilling at Labola to recommence after the closing of the Moydow restructure, expected during Q2 2022"

I'm interpreting this to mean the drilling won't take place until Q4, unless they really get a move on.

We're already in Q2 and the wet season in Burkina Faso runs May/June to September. So if we don't start drilling soon it may be put on hold until the season ends. Still, worth holding imo.

DFR paying £13.7m for a slice of the Labola pie, while our market cap is only £10m.

I'm convinced that with the expanded license, Labola will have more than enough in the ground to justify a mine.

Drilling expected in the next few months. I'm curious if we'll get a better drill setup with this DFR cash to hasten the project, or if we'll stick to the current. Believe their investment is to be paid over a 5 year period, so we should see some significant development during that time.

I emailed a query to Panthera regarding Bhukia, this is nothing we don't already know, but it was nice to receive this in the reply from Mark:

"As you may appreciate, a new partner has little relevance unless the grant of the Bhukia licence can be resolved. It is my opinion that the licence impasse can be resolved and accordingly it remains the focus for the Company."

Later he states:
"Concurrent with these efforts Fasken has been working on our BIT claim should our efforts in India prove fruitless. The recent Cairn settlement bolsters our view that a BIT claim has material value for Panthera shareholders."

He's already said in the past that he believes India can be resolved, nice to see that's still the case. I would normally be skeptical of anything optimistic an MD said, but he does have a good track record with such things. I don't fancy the timelines on a BIT claim, but I can afford to wait for the court decision.

Good luck all.

Me too! I feel the lack of news on Bhukia despite the team working "round the clock" is because the govt are making their demands known to PAT.l behind the scenes. They've probably got a company under their thumb that PAT will need to JV with.

That said I'm still happy with Labola and Bassala thus far. If PAT can secure reasonable funding, both projects have potential.

It could also be a hint (warning) to the govt of Rajasthan of things to come. With Mark's previous experience in India and the precedent set by Cairn, an amicable agreement is in their best interest.

We'll probably see more delays until the JV partner appears, and even then things will likely take time to progress.

Look forward to Labola and Bassala results later this year, patience required for Bhukia.

Don't know how I missed that, thank you

Bhukia jv is complete speculation. No need to ramp the stock imo, Labola will serve us well as it is.

Positive news. Where are those assay results though?

We've had a good amount of progress in WA.
Labola is looking more and more like a mine, and that's enough to make PAT worth buying. Personally I don't think Citi have invested because they have been given hints on India, I think they are investing based on Labola.

Yes I can read thank you.

My point is that charts are useless for these kinds of companies (explorers). It can go to 10p or 38p, do you really need a chart to tell you that? And either way, what difference does it make? You'll say you were right whichever way it goes, but what matters is are you buying, selling, or holding. Sure you may make some good decisions off charts, but you may also make bad ones too, the same as any strategy. What I dislike is overreliance on charts, and the absurd idea that they can be expected to reliably predict movements for consistent profit. If that were the case everybody would be using them, or hiring people who know how to make them.

I seem to remember you sold a large portion back at 14.25 last year, claiming PAT was way oversold, then watched it rise to the 30s within two months. Did your charts predict that, if so why didn't you follow them? Do you know that the average chartist produces fewer results than completely randomised stock pickers or index funds?

If you say it could be between 10p and 38p you're going to be correct regardless of where it goes. This is why charts are nonsense. You give yourself huge leeway so the charts are always almost correct. Confirmation bias at its finest.

Charts are tea leaves and charters are charlatans. The market is far from rational

"Panthera said today it is currently in discussions with several potential litigation funders to support a claim against the Republic of India under the Australia-India Bilateral Investment Treaty."

I think this is pea****ing - they keep mentioning litigation and I believe it's to put pressure on Rajasthan to reach an agreement.

We should be getting drilling results any day now, and we can expect announcements on new drilling soon too.

Possible India news is what we need though, at least short term.

Slightly expanded, to pay for more drilling. We are at the dilution stage now it seems. Hope Mark gets an agreement in India soon so we can start generating some cash.