Member Info for Ella10

Yep - I meant AFP - I actually thought they were AFR - so I've learnt something today!

Some one with an interest in TIR / AFR might want to post the RNS there - I suspect it is also good news for them.

Excellent - Thank you for the timely update on the sale Mr Bird. How's the drilling going?

Must be close - the market can smell it!!!

We now have a new director. I wonder if they will be influencing what news is released when.

Not sure any significance can be read into it for XTR:
https://www.londonstockexchange.com/news-article/market-news/empress-royalty-announces-debt-agreement/15117178

Could SFR have been waiting for that to be published before announcing the purchase of another tranche of licences?
I do wonder how the Botswana gov view SFRs large and expanding holding but dies the fact that they relinquished a licence suggest that perhaps this discussion might have already taken place?

I believe
Hargreave Hale acquired their shares in a placing on 12th Jan.
They declared their holding on the 21st Jan and were selling in early March as they dropped below 5% TR-1 12th March. The website appears to be incorrect and doesn't reflect the holdings as of the 9th April.
This presumably was part of the selling but I'm not sure it accounts for it all. The timing is interesting.

Okay - maybe two bulk bags was being a weee bit greedy. I'd be happy with one half full...

Thanks Howezap,
I hadn't appreciated quite how heavy it would be. The bags wouldn't be up to it! I'll have to reconsider my shipping method...

There are some individuals who read this BB, and occasionally post, who have always been polite and in the past have been helpful. They may well have a very significant shareholding here so the info I have posted may be helpful to them. Obviously, anything you read on these BBs needs to be taken with a very large dose of caution and that includes anything I post. As always folk should do their own research.

I compiled a detailed list of info last week and have sent it to the relevant parties for consideration. Those particular letters were quite satisfying to complete, although it did take some time to compile all the info.
I also suspect we may be overdue some TR-1s from either one or two significant shareholders. I have asked for this to be checked.

The 16p Mar RNS details the director options using 10-day VWAP of 6.94p in the Black Scholes model.
Due to AIM and FCA regulations on insider dealing the RNS has the following statement
'In the event that the former option holder is in possession of relevant price sensitive information or is restricted from dealing pursuant to the provisions of the Company's share dealing code or by any other applicable law or regulation and is thereby precluded from receiving any Consideration by the issuance of New Shares or any part thereof (including when the Company is deemed to be in a close period), then the Payment Period shall be deemed to be extended until the date which falls 10 business days after the later of the date on which the former option holder ceases to be an insider (as defined in the Criminal Justice Act 1993 and the Financial Services and Markets Act 2000) or the date on which the close period ends, or the close period concludes, or the former option holder is otherwise no longer prohibited from dealing in the ordinary shares of the Company.'

However it appears from the 232.1m options and warrants listed on the company website, the 16.3m options remaining and the outstanding warrants that all or very close to all options in this RNS were surrendered prior to the 9th of April.

I would have expected the directors to have had knowledge of undisclosed information during this period. The AA discussions and all other inf folk on here have been speculating that the company couldn't disclose! In addition the court case was only disclosed on the 10th March so there was not 10 clear days between this and the VWAP used for valuation. Have the directors totally ignored the fact that they were prohibited from dealing at this time??
In addition there have been no subsequent related RNS to update on any later valuations for directors and management that were in a closed period at this time. The option surrender value could be paid in cash or shares but no RNS have been issued on director holdings - has no surrender value been paid or were the shares not tempting?

Rather than abuse directed at me I would appreciate if folk could provide constructive info to this thread.

I may have done the NOMAD a disservice in an earlier post. I have been reading some of the results of AIM Regulation investigations. The NOMAD has a role to ensure the company understands it's obligations. I would not and did not expect any significant discussions with the NOMAD as any info should be released to all shareholders via RNS. However, I assumed the NOMAD could force an RNS - this appears to be not quite the case. The NOMAD should advise the company on it's obligations but the company may not comply. The NOMAD may well be doing their job correctly so I apologise if I implied they were not without adequate evidence.
I guess we will all find out what the real story is in the next number if weeks.

Hi Slurms,
I'm glad everyone found the link interesting. My comment regarding familiar names was actually to point out to Fulmar that the reporter in the twitter post did work for that paper - so his derogatory comment linking it to the Sun implying the paper was irrelevant to the twitter article didn't stand scrutiny. The reason I posted the link to that paper is because I knew that journalist has written articles for it.
It may be that all court cases aren't posted online.
NvS is under pressure from shareholders to post some good news so issue an RNS to state the court case is out of the way would be the correct thing to do if that really were the case. It is price sensitive information that is in the public domain and some shareholders are aware of the article. If it were true he would be obliged to issue an RNS. Even the people grasping at the straws of a negotiation preventing the release of this news must appreciate that as it is no longer confidential the BOD would be obliged to issue an RNS.

Hi Legal,
I think we might still see the Equity drilling deal but only after the survey of the first 2 holes. I can't figure out if there is anything significant in the cores for hole 1 - one minute I am totally convinced there is and the next minute 100% convinced that there isn't. Ben must be a good poker player, as normally, I can make a decent guess! The reason I think we will see the Equity drilling deal was Ben's answer to funding and the fact that he was astute enough to give himself some wriggle room. I think we will need another raise but that isn't a bad thing provided it allows us to make significant well planned progress.
I'm afraid I disagree on your comments re geos and scientists. Mike Moles etc may not do such a slick presentation but to me would be potentially more convincing in their delivery.

Overall impression Ok - Ben does a slick presentation.
We haven't been told what is in the core at 370m - fine if they really are waiting for confirmation.
Apparently investors don't have sufficient brain power to understand this concept - don't make great listening!
I'm not sure who the older management getting kicked into touch are at 1:57 but I hope it isn't guys who have spent a lot of time, money and effort to get to where we are now.
I'm still hoping we have a great discovery at the KSZ but I also hope we don't trample on the folk who got us this far.

Hi Fulmar,
You do make me laugh :-).
Are there no familiar names in that link? I'll give you a very small hint - look at the name of the reporter on the twitter post....

For anyone who missed it. Folk seem to have got quite excited about the following post

'The court ruling doesn't appear to have made it onto the Zambia Daily Mails Court News.
http://www.daily-mail.co.zm/category/court-news/

Interesting that a journalist didn't twig that ZAMEC is not A mining organisation.

This is obviously price sensitive news so If It were True an RNS should have been released.'

I think CB will have a very good idea what they have at the moment. I just hope he hasn't invested in a VERY expensive smoke screen. I get the impression that grades don't need to be great to be economical but I am hoping for some gold. A couple of those bulk bags shouldn't be that expensive to freight ;-).