Member Info for Edhellas

Not in the next decade. I wouldn't put money into any junior AIM explorer expecting regular dividends.

F1

Mark has the right to buy 3 million shared at 10p each if he meets his goals, not 0.1p. That's almost 43% higher than current share price. I.e. The share price is expected to be higher than 10p if we secure funding, or get a deal.

Ah my apologies, I didn't check the last deadline, just assumed it was Friday again. Shame! Should be tomorrow then, but doesn't indicate anything

So far, all delays have been communicated via RNS Monday morning.

We haven't had one this time, seems like the DD is complete for real this time?

As soon as I read the BIT agreement through I realised our chances of winning in international court are very high. And the BIT process cannot be delayed forever unlike Indian courts, there are hard time limits. If Fasken think it's applicable, then we've really got the Indian gov't on the back foot.

I think Mark's confidence in getting a deal is largely because of the BIT, it's a very strong negotiation tool. The Indian gov't have a almost a precedent for losing BIT cases. They know it's not worth it, and the funding confirmation will mean they can't rely on PAT running out of funds anytime soon.

RE Prof - it needs to be 2moz according to the research note (due to the low grade), John seems to think it will so should be good. That's at the current gold price though. If prices go up relative to extraction cost, the requirements may get a bit of slack which would be nice

Also don't forget Cascades results expected soon. We've been advised that they should indicate if the resource is economical and worth building up. Economical being a minimum of 2moz. That doesn't mean it'll be 2moz this year, just that it's feasible to get there.

As long as we get a good DD result I think we'll be back to ATH in 2023.

We'll get an RNS next Monday regarding the DD. We won't get a deal until after the funding.

95% I believe

I don't know where Nelson's figures are coming from but it's highly unlikely we get a jv announced by Thursday. The dd comes first, then the funding, then we negotiate a deal. Not the other way around. Expect this processto take some months.

Mark's words were "major update", which means either funding secured for Fasken, or the granting of a license. Given he said "this year" I don't think he needs to "keep his mouth shut".

Probably won't reach the high we had 3 years ago just off the funding announcement. Remember that the litigation is a tool used in negotiating a deal. Ideally it's not the way we proceed. The big gains come if we get a deal after receiving the funding, Mark seems confident in that, fingers crossed.

There will likely be another delay because the funding will not be secured by then.

It's going to be a few months at least before we get a deal announced. Wouldn't surprise me if it took a year. The funding has to come first before it can be used in negotiations. My plan is to keep topping up where possible. I'd like to get my average below 10p before the news hits.

It's a very different case, but both fall under the India-Australia bilateral trade agreement. I highly recommend reading article 1, 12, and 13 of the trade agreement. Fasken think the agreement applies (which it definitely should). And under the BIT, the Indian government have no chance of winning.

The BIT took 5 years to settle in Cairns case, receiving around 1/5th the money they requested. In my eyes the worst possible scenario is we go the BIT route. It takes 5 years, we will win, we get anywhere from $2.5billion to $12billion (minus legal fees and LCM cut). Huge dividend, and all our other projects are fully funded off this.

The good case is we get an agreement in the next year. That'll require another 5 or so years to become an operational mine, with the share price climbing quickly.

The best case is Mark convincing the government to apply the mining fast tracking to gold mines. Then the SP goes out of this world.

I hope it's the 10th, but I don't think we'll finish in court this calendar year

In my opinion we'll get the LCM DD completed, then the funding confirmation notice shortly after. Then Fasken will use it as extra leverage in court to get an agreement out of them, which will take some time to finalise.

One thing I will say, some people on this board like to write back of napkin maths on potential share price. After all the legal issues we've had, I don't see any future where Mark relinquishes more than 49% of Bhukia. We know there's at least $12B in gold there, likely much more. The board should understand well - we need to maintain a majority stake in the project.

We aren't going into auction in the next few days. Today is the latest for the DD, the DD doesn't put money on our pockets. It doesn't mean we'll automatically get a settlement in the next court hearing either. We still have a couple of months minimum if we are getting an agreement.

The rns will probably be Monday rather than Friday

That should read over $12b+ for India total sorry. E.g. 6.6 million ounces x $1900 per oz.

You're typically looking at $80-100 per oz re: share price, but that depends on the cost to extract which I have no idea for Bhukia. It would depend a lot if we get an amicable agreement and whether we could convince the govt to apply the fast tracking process they have just announced.