Member Info for G_G_G

Have mgt indicated the size of buy-back starting in June? Regardless of whether they work all that well, if the value is big enough the sp will almost certainly increase. They've got enough cash sloshing about at the moment to buy-back 10% every year and continue paying a double figure divi yield. By year's end they'll have enough to do it all again in 2024 without even accounting for +$80 poo. To think the sp won't be breaking the 60's in a few months with oil trending upwards, divis being paid, and buy-backs commencing seems almost inconceivable. AIMHO

Happily stand corrected on the not having the expertise to mine the stuff. Clearly OCP does, not that it makes me feel better about the government pulling a swifty.

Thanks guys, shame on the tax front but still a very good yield. Have to say the rns was something of a wet fart today, but I managed to get £150k in at 47p today :) Very surprised we're still at this level. Could be a slightly slower burn hockey stick response but that rns was pretty spectacular. It pretty much ticked off everything an investor here would want to see. With buybacks on the cards in Q2, lots of cash, and a lightly traded stock I fully expect recent highs to be re-tested providing Brent stays at +$80. There's also the 10% dividend and new well results to come in June. And 1 month later the Q2 ops update that will be spectacular if it's a continuation of March. Quite an incredible turnaround in a short period of time. Expecting 25-30% climb in the next 12 weeks if poo stays flat. If it climbs up to $90 as many are expecting then add another 10%. AIMHO GLA

Sorry anther stupid question - can we claim back the 15% being UK investors? Also, why is our primary listing in Canada when it appears there is f'all volume on that exchange?

Perhaps a stupid question, but is the withholding tax paid on top of the dividend for UK holders?

I take it for an annual figure of circa 10% on current share price - does that sound right?

What's the yield here after that news?

Thanks for the warrants info Stas.

I think the odds of this not being approved are very slim. There have been far too many years engaging with the gov.t, and far too much money invested for them to pull the rug now. And yes it would damage inward national investment if the government effectively ceded control to national interests. Morocco is trying to build its O&G profile and there's no way companies would invest in that arena if the saw this happen, let alone anywhere else. I also doubt that local companies would have the expertise to mine the stuff. Plus they would find it harder to tap western markets for investment and know-how. The fact Emmerson has been name checked for this forum only goes to show the support from the UK government in getting the project over the line. It's a matter of patience. And yes it could take a number of months more for the permit to land, which is why I'll keep topping up if / when it hits the 4's again. Give us another month and I have no doubt we'll be back in that sp range if the permit hasn't landed. AIMHO GLA

Very good news, and yes I imagine it will help immensely. Great find Volt. The show is 02nd - 05th May, so a couple of weeks from now.

Being lazy here but does anyone know how many warrants are outstanding? Hopefully these aren't being exercised to dump into the market post results (or any other good news). Not many, but enough to take us down a penny or two, or take the wind out of a rise. GLA

Thanks for your response Harchris.

Hi BB, yes I comfort myself with that line every time I feel concerned they're about to drop some munitions on our already depressed sp. Thanks for re-posting. GLA

I think the issue is they said 2022 results would be released shorty after the reserves update. That was a few weeks ago now. They really need to get on top of these things.

For the more knowledgeable posters here, what is the electricity supply impact on BMN? I've been reading over the past couple of years the SA power grid is a disaster, which is perhaps why good gold companies like PAF aren't twice as high at the moment. How does the power crisis in SA affect BMN? Is it likely that production will be seriously hampered for the last quarter and 2023 or do they have this measured and under control? Responses welcome and I'd greatly appreciate if you can point me to BMN publicly released information on the matter (if there is any).

I'll assume that last post wasn't directed at me Ferrisc :) Regrading the sp, this doesn't seem to be doing the usual pull back after a few days. I think anyone buying in the 4's was simply mopping up loose shares from impatient / non-believers. There was probably a bit of tax mgt involved as well. Given where the sp is sitting now, if the permit lands I'm going to go with the sp hitting 8-9p within a week. Very exciting if it all goes according to plan (and soon). AIMHO GLA

Have I missed our 2022 results or are we still waiting for this?

I was thinking the same thing Pete. I've been on holiday but saw the drop below 19p on Friday and thought they had released some rubbish 2022 numbers. I then noticed a 1m trade and a few other big sells that were the obvious cause of the drop. Feels like we're due a TR1 based on the Friday volume.

On 2022 results, I still can't believe we're waiting on them. We've talked before about how they're quite shoddy on their own timings and this is yet another example. The employee share options scheme at 20p was nice to see. It has really annoyed me in the past how they've handed out tens of millions of options at low exercise prices set against very modest targets. This time doesn't feel as though they're giving them away, and would also suggest the upside from the success case would be significantly north of 20p. Not sure what to make of the acquisition targets and whether they've already got something lined up. The 26kboepd I fully expect to be reached early next year at current prices. But unless the acquisition is on very good terms (and I'd hope to be oil heavy) then I'd rather they take out USD$30-50m of debt and drill out our current under-appraised acreage. There's far more value in going down this route and would also make us far more attractive to a would be predator for a modest amount of debt on our books given the increased oil and value that would be generated. Anyway, it feels as though something could be lined up. Let's hope previous acquisition terms are the ball-park space they're negotiating. AIMHO GLA

Been on holiday but accumulating here the past few weeks. Quite happy with my 2.5m at circa 4.5p. I'm not going to dip my toe in the water again until this falls back (if it does). Hopefully another 1m at sub 5p and I'm done. When the license lands I expect 7.5p as a minimum and won't be surprised if we get to 10p again. Hzm is a good indicator of where the sp will head once all ducks are aligned, which would sit us somewhere round the £90-100m mark. AIMHO GLA

Thanks Tony, appreciate your response. GLA