Member Info for EricDraven

Replace “probably” with “possibly”, because I can’t say one way or another. Just musing again.

It’s difficult to be enthusiastic at the moment, considering this is probably the lowest ever fundraise price, but we have taken part in it, yet again, so we must have a bit of faith somewhere from within ourselves. Had we not been hampered by the Sami Appeal, the fundraise would probably have been at a higher level. High risk, instead of perhaps extremely high risk.

I don’t know, I’m just glad that today’s RNS is probably the best outcome for us.

Mornin’. x

At least the underwriter has taken SDRs, and not some of the money back that we’ve only just raised. Unless I’m missing something, which is highly likely at this point in time.

Best wishes all.

Thank you Olly. A good evening to you.

SJ, thanking you. Lol

I like ‘rapid’ too, and one day, we trust, they must be able to justify saying it.

SJ, are you suggesting Suzy and I have duff equipment, or are we just duff? 😂

Sooz, the posts are weird here on my phone, as I’ve only just been able to view Andy’s link post. Up until then I’d only seen the RNS. Hence why you thought I replied to a post you hadn’t yet typed. Lol. It’s all a bit odd this platform sometimes and I only have a smartphone to view it on. But I don’t like the mobile view so keep in on original website view.

Anyway, I agree with the fundraise being optimistic, but yes, different matter if the Appeal had been dispensed with, giving a positive outcome for the Government. This would be less risky and with a world-class asset, rather than pending a yay or nay with a world-class asset.

I was referring to the poo, not the pig, lol, but I’ll take it.

Thanks Sooz.

Suzy, yes, it’s changed from the situation Ed was confident of before the fundraiser, Pocko mentioned it as well, as in, the tune has changed from completion of the PFS x 2, to advancement of the projects.

Why we are allocating even 10p to Vardar at the moment and not mothballing it now we have the 100% ownership is subject to debate, but to me it beggars belief and logic.

But you know, I’m as thick as pig poo.

You never know, we might keep Vardar, advance the other two with proven assets, and do it that way.

I won’t be watching that possible scenario unfold though. No way. Lol.

Morning all. A neutral RNS for me. 100% ownership good, how we are going to continue to pay for more exploration into Vardar, it having yet shown us anything of commercial value, bad.

Past caring.

Well, almost.

Olly, why are you suddenly hanging about here like a bad fart?

Evening Sooz. Yep, I see. Hope you enjoyed yourself at the party. Good on you. Court decision, well, it seems a positive outcome in favour of the Government is the only thing that will improve things for us at present. Ed surely also needs to find a way of cutting costs while we wait, in my view.

At least we appear to be funded for maybe another 12 months, if we only spend as absolutely necessary.

Evie. x

Lb, I feel your statement about being ‘fooled’ into parting with our money again is incorrect. I’m sure we are all aware of the risk involved. We know how serious this situation is and Bowie hasn’t buttered us up, that’s for sure.

Quite the opposite.

Lb, lol, Billy Smart. Yes, we do seem to have had a few organ grinder’s monkeys working for us. Maybe still have.

Not great is it Pocko? Admin costs are ridiculously high, so they need to shrink, and, maybe, as you mention, mothball Vardar and then see also how Finland goes. The latter has been an excruciatingly slow project, in spite of the efforts of Rasmus. I do like him though. He’s probably as frustrated as we are with the money thrown into Vardar and not directed his way, in addition to the Government funding for Bat Circle.

We should be hearing from the Court soon. Two years is plenty long enough.

Pocko, evening. Well spotted. It’s a change from the definite to the indefinite, before and then after the fundraise. We need a positive outcome on the Sami Court Appeal or we could be totally knackered. I’m not sure why any money, all things considered, would still be handed to Vardar for further exploration, considering it’s an unnecessary spend.

Anyway, we are still afloat and the plans may be similar if not the same, albeit, “completion”, we now don’t know if this is still meant.

It’s bothersome.

Sooz, I take your point, but was referring really to ensuring that we have 100% ownership, by settling with the necessary shareholders to bump up the percentage.

We only know that we are afloat still and that’s what matters. The budget is stricter than hoped for, but maybe that’s also a good thing. I’m hoping we can ditch Vardar, if we’ve sorted out the admin issues and gained the 100% ownership. Not sure whether we have yet.

Morning Suzy. Best of luck to us.

Yes, because of the underwriting we are ok. Still have the Sami Appeal hanging over us while trying to raise this money. This has been mentioned previously, but couldn’t we have held off with the raise until after that? No, because we still don’t have a firm date for when that verdict will come, only a loose timescale, after waiting for more than two years now since the concession was granted.

It’s all a bit unsavoury really.