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Well that lets hope that is correct. The RNS they released about this rumour does say funded for 'budgeted' activities. Any other juicy tidbits worth mentioning? Would be glad to hear. Todays RNS regarding the PFS has not exactly set the SP on fire which is a shame! I guess the next thing to wait for is the exploitation license...….(sigh)!
Certainly seems that way. If RP and crew had to justify themselves (and their fat salaries) in a 'proper' organization, they would have been sacked several times over by now for gross incompetence. Only as CEO of some personal lifestyle company like this can you build fantasy castles in the air funded by pi's wearing thick rosy spectacles with dollar signs printed on the lens.
And, once again we sit waiting for yet another brilliantly clever /well thought out project to bear fruit, but I think some people are going to be disappointed initially. Despite the grand calculation been spouted here, none of this is going to be done quickly. Realistically how much revenue is going to come from only 18 outlets? Be generous and say $1000 dollars a month from each? Only 216k for the year. Only other revenue is the trickle from ED which just about covers admin.
All the other projects seem to be dead. so what is there to justify a Mrkt Cap of even £ 13m. Not much!
While we are all waiting...….
https://www.healthline.com/health/best-cbd-oil
I am actually quite staggered at how expensive this stuff is for very small amounts . Hopefully charge a premium for organic. Just hope HNR gets up and running before the market gets swamped.
PFS only submitted 5 days ago!
If the 52 week low was 7.5p as indicated, no one is making much dollar selling at these levels!
Makes one suspect shorters on the case. Placing rumours got quashed, then of course TW pops up with his say! (what a surprise!)
Furthermore, and importantly, the signing of this Agreement with one of the world's largest mining groups proves Bluejay's "discover, develop and deliver" model for Greenland. In addition to continuing to drive Dundas towards permitted exploitation, we expect to continue to expand the resource base in both the on- and off-shore environments. Consequently, we are now able to refocus some of our attention to our other significant and high value projects namely Disko, Kangerluarsuk and Finland.
Shareholders can expect news shortly on the large scale and innovative work programmes that will be conducted over these projects during 2019."
Let's hope so!!!
https://www2.trustnet.com/Investments/Article.aspx?id=201905280700112275A
As per usual HNR 'fails' to hold any gains made as people no longer trust RP and crew to actually deliver anything of value in the foreseeable future!
Don't think so. had $15.6m in cash at Dec 18, according to final results. Some will be earmarked for the Tapi Aike seismic, but probably not all. In fact did email Echo to ask what the full seismic cost would. Had a reply from some one travelling who said they would get back to me. Still waiting....!
Get rid of the dross and reduce forth coming liabilities. Surprised they have manged to pull it off actually. If Tapi Aike half as good as expected, 19% still well worth having, and should significantly reduce funding requirements. Bit off more than they could chew to begin with. This looks like a much better plan.
Looking at the placing RNS from last year, 'The Board expects that committing to Full Tapi Aike Seismic Programme at currently available terms would result in cost savings to the Company in excess of US$7 million over the previously expected costs over the course of the programme at Tapi Aike. The net proceeds of the Placing will be sufficient to enable the Company to commit to the Full Tapi Aike Seismic Programme and related costs.
Wonder what the full seismic costs are? If they had 15.6m cash left in Dec 18, may be things are not as bad as they look. Certainly market cap now v.low considering assets and potential.
From the presentations and interviews, it seems they are still aspiring to be a mid cap co. Hence still looking for acquisitions, M & As etc. I notice that Coro recently deliberately went the Eurobond route for their latest acquisition because the SP was too low for a sensible placing. Although the terms were not that brilliant . May be echo will do the same?.
Reckon ( if and when) buyers return, could well bounce back. Just re-listened to the Malcys interview with the Echo CFO chap. Still sounding up beat, excited about Tapi Aike , talking about M & A 's to add shareholder value etc. Have to say seems all a bit pie- in- sky dreaming with the SP at its' current level ( where is the money coming from for all this activity?) but hopefully I am wrong!
Well, I would say no,....not when there is a 'known' funding shortfall. And I am sure they will try for farm-ins, JVs etc, but 9 times out of 10 it end up with equity issue. Seen it loads of times before sadly. Followed by the placing holders off loading for a quick buck, supressing any Sp rise and the dilution pushing existing holders further and further down the ladder.
Pretty grim overall. not much to look forward to except the inevitable? placing. if recent placings on AIM are anything to go by it will be at a hefty discount. Even if the wells are relatively cheap at $2-5m, the dilution would be horrendous from an SP at these levels. My 15.6p avg looking a complete disaster unlikely ever to be recouped. Oh and the website is still boasting 'A mid-cap Latin American exploration company in the making' Ha ha ha ha ha!!
Yet another project we sit and wait and hope will come to fruition. Not much of an upturn today, ...placing holders still offloading their cheap, discounted shares for a quick 50% profit and supressing any SP rise, whilst the LTH sitting on losses get pushed further and further down the pecking order! With all the new shares in issue reaching break even again becomes harder and takes even longer. Hey ho.. RP and crew salaries are safe and the city boys make a quick buck! It's business as usual then …!