Member Info for G_G_G

LL, what a load of rubbish. It's pretty obvious the Cu price has been the primary driver of our sp decline. Assisted by K2 selling a large holding in an illiquid stock. And clearly another factor came into play when we announced our record breaking monthly production figure. It's not like there's a lack of correlation between these things and our sp chart over the past month. A monkey could look at them and surmise the same thing. And the fact we haven't known our costs, or had 'analyst coverage' all along, would suggest that your proposed drivers have no bearing on the sp decline.

Not sure I consider 30p all that great either Xenor given the potential here. As I've said previously mgt should always be focused on the sp if they're running a small cap mining stock that needs cash for expansion, especially if they've had a litany of issues that have eroded market trust. So whenever they have good news they should be releasing it until the trust issues have been overcome. Being at 19p demonstrates the market doesn't trust them at their word on our 7k annual target, or 8k run rate. Releasing monthly results will make a big difference to this trust issue. It will also provide the market with a reliable pattern of production to combine with our costs when they're finally released. Costs without a reliable production profile alone won't make the same difference. All of these things will also give the company greater financial resilience and flexibility in choppy commodity markets and/or when issues arise. It will make a bloody big difference if you're raising at 35p versus 25p for an ore sorter in 6 months. All mgt 101 for companies in our position. They're doing a great job of turning around the operation. Not such a great job at proving to the market this is the case and focusing on sp appreciation for future protection and expansion.

I said the sp would stay depressed because we won't get any production news to go with the costs, whenever they arrive. Sp appears to still be depressed, unless you think 19p is good Xenor?

At least it shows how much the sp can move on very little volume. Pretty much every holder is under-water now, and given the low volume the past couple of weeks one can surmise that holders are waiting on news before the next move. Some good cost numbers and we should hopefully be back to the mid-high 20's very quickly, which is still an unbelievably **** share price. Most positive is we're moving against the Cu price for the first time since the correction.

Agree Multi, it would be pretty stupid to be selling at this level. As annoyed as I am with moving to quarterly reporting when mgt have established f'all, one would be far better off buying more and averaging down versus selling given the current sp. This of course doesn't change the fact that people aren't buying because they don't have enough information to make a considered decision, be it cost profile, or an established production profile.

TB mentioned costs would revealed in the coming weeks. That was 3.5 weeks ago. One would expect them to arrive in the next fortnight or it's once again an example of over-promising and under-delivering. One can only hope they arrive with July production numbers to support / reinforce that we're on a +7ktn per annum run-rate, which can then be applied to the costing exercise with greater confidence.

Agree that Shubham is impressive Tony. It's great to have someone like that on-board. His knowledge of our Canadian operations was excellent. Having said that he didn't seem to know a lot about our Nth Sea acreage in comparison to the insights he was sharing on Canada.

Hopefully news this week, but I'm not as anxious as previous quarters for it to land tomorrow, or even this week for that matter. It was nice to get the f/o news yesterday, which removed a big ? for me over whether we would be drilling this year. It's also set us up nicely for a push into the low-mid 30's when they release the quarterly results, which will no doubt be spectacular. This quarter is going to be the first fully unencumbered period of +20kboepd (average), +$100 WTI (average), and +$5 AECO (average). This coupled with a lot of drill results, some of which are in relatively untapped acreage. And, an outlook on the many more drills for H2. And then of course the f/o, which is fast approaching. I never thought we'd be drilling the Nth Sea so soon, so for them to be spudding in a little over a month is incredible. I feel quite confident all the quarterly news, Canadian near-term outlook, and the run up to Nth Sea drill results is going to get us into the high 30's, and perhaps even the low 40's. If they deliver +50m recoverable barres then I'm expecting another 5-10p. And 15-20p if they hit the 100m recoverable barrel upside.

There's a hell of a lot for them to pull together so I really don't mind them taking a bit more time. They've certainly earned it. Very, very exciting times here.

'3G...... Copper price isn't very relevant to our CURRENT share price....'

I'm literally here just shaking my head LL. Firstly the Cu price has been fairly well correlated to our sp decline. The other point where a factor emerges is when we announced an all-time record breaking month of production (very good thing), alongside a move to quarterly reporting. As I've said we haven't known our costs and profitability all along, and yet our sp was much higher. So no correlation on those factors you like to speak of.

The Cu price has definitely had a negative impact. And that impact has been exacerbated by a move to quarterly reporting where shareholders are now unwilling to dip their toe in the water because of past failings and no idea of what's happening on the production front for a few more months (Oldfool pretty much sums this up with his last post). ONE MONTH of near 650tn doesn't establish a reliable production profile like you seem to believe. AIM is +vely impacted by regular good news, in the same way as its negatively impacted by no news on minors that have a history of f@ck ups. I can't believe I even need to say this.

I agree Paul, just hoping for an unlikely scenario. It's a shame because if Serenity comes up dry there's a chance we won't ever know what's lurking in Minos High, or have properly appraised Liberator.

Sorry meant to say the Cu price as lwer, but the fuel price was higher.

Wonderful news. I was concerned there would be a hold-up with the regulatory bodies and fully prepared for the drill program to be pushed out. Instead we're free to push ahead with the original drilling plan for Serenity. Plus, it should also mean i3e are free to drill our other field that is now delineated as 100% owned. Or to f/o some of the field. As I've mentioned previously I'm hoping they stick a well into Minos High / Liberator whilst we have the rig. As some stonking quarterly results and I agree with Paul about the 30's being our new home until drill results. Especially if they bump up the divi, or put another well in the Nth Sea program (ideally with a partner).

Agree Bilbo, but fuel has been this level before. And please remember the sp was 21p before we announced our all-time record breaking production month (alongside a move to quarterly reporting), the Cu price was lower, as was the oil price. Regular news matters on AIM.

LL there has been no profit forecast for how long...? And yet our sp was much higher. The question about our cash situation has been asked many times, and even though we still don't have any idea of it, we know it's better than now due to the streaming agreement. And yet our sp was higher. I see you haven't mentioned the Cu price, is that because it's now closer to $3.60, which historically speaking is very high.

As for the quarterly reporting comment, it just shows how little you know about AIM investing. People invest in AIM stocks on the back of regular good news flow. It builds confidence because investors can make more informed decisions, even when there's lingering unanswered questions. This is especially the case for companies like RMM with their track record of late reported disappointments. Hopefully they go back on their quarterly reporting position and give us the July numbers so you can see how little you know about AIM (and investing). But no doubt you'll find some other half-baked reason for the sp rise.

'Sorry Poundstopennies, not so... the Company decided that they would move to quarterly reporting, so we won't get new Q3 numbers until early October.'

That's right. No July numbers until late September at the earliest. In the meantime you'll get the odd confusing tweet that says f'all, and get to watch the Cu price recover whilst our sp stays in the teens. Besides, another all-time record monthly production report that confirms we're still on track to hit 7ktn for the year wouldn't do anything anyway. It's the Cu price and the lack of costs that's caused the drop. Except of course the Cu price is now back above $3.50, which historically speaking is very high. And costs have always been an unknown. The sp is a mystery really, especially given we just reported a record production month. Must be those sneaky MMs and short sellers.

Looking good people. Reckon these results could break us through £400m mcap (+34p). If they announce another drill in the Nth Sea and a modest increase in the dividend to say .16-.17p then I can't see us dropping back to the 20's again. From there it really boils down to how big the herd is when it arrives. With another drill in Minos High targeting +300m OIP, alongside our Serenity appraisal targeting 100m recoverable barrels, then it should provide plenty of interest for the herd to take us near / into the 40's. Wondering whether to top-slice in the 40's pre-drill results will certainly be a nice problem to have if it occurs.

Not in pain Analytical. Just annoyed to see such a rookie own goal being scored by mgt for no good reason, other than it's an annoyance to produce monthly reports for the next quarter.

The mcap (sp) should mean a great deal if you're a junior mining company with stated aims of expansion. And it should mean a whole lot more if you're under-valued because of a long track record of things going wrong. Posters on here love to say how it's normal for things to go wrong in under-ground mining. If that's the case, with our cash position, we'd need to dilute by 10% just to get our hands on £2.5m. So the sp should be one of the main focuses of any junior mining mgt team in such circumstances.

It's unnecessary and short-sighted. Plus you get the added issue of being at the mercy of external factors when they turn negative (e.g. Cu price), but not gaining from the same factors when they turn +ve. Regular, good news is the only antidote in such circumstances, and it would appear the only time mgt can be f@cked doing the rounds is when they need to raise more cash, which is never good for PIs.

I see we're having another day of these mythical creatures chipping away Analytical. These investors are more like magicians in how they can hoover up so many shares at these lows and no-one ever knows. So clever.

Hi Stas, hopefully I'm reading your question correctly, but if you're concerned about failure of the financial firm holding your ISAs then I'd suggest having them with a major bank. There's little risk of major bank failure at the moment as they're quite well capitalized. Plus the government during the GFC showed how they won't let big banks fail. Both reasons are why I'm with Barclays who are useless pr!cks, but safe. Alternative as suggested is property, as the saying goes 'safe as houses'. The issues here as you've rightly pointed out is you cannot access your cash easily. You also cannot sell the house without attracting CGT (unless it's your home). And you'll get taxed on any rental income. So if looking for security I'd say use major bank(s) for any ISAs, and then invest in high dividend paying blue-chip stocks whose output the world will always need. Hopefully that answers your question...?

Hi guys, fwiw I think the negative impact of a dry well will depend largely on what level we're at before an announcement. I've always had +34p in my head (circa +£400m macp) as the bare minimum. If this is the case then I don't think the drop will be all that great - maybe 3-5p. Having said this if poo and gas are strong, and word gets amongst the herd, then we could be sitting as high as at 43p (+£500m mcap) pre-announcement. Obviously the higher we are pre-announcement the more we'll fall if a failure. The upside in the success case is we'll jump from a higher base and if they turn up +100m recoverable barrels, then we could easily breach the target some chartists on here have been talking about @ 60p. I imagine it will be a tough decision whether to hold or take the money if we're above 40p. I will certainly be having wonderful sleepless nights if this is the case. Either way we'll be solidly higher pre-announcement. I'm hoping the next set of results stop the rot to an extent and put us back above 30p, which is where we should be sitting at a minimum on current production and outlook. I'm also hoping for another drill being put into Minos High, which I think has far greater sp appreciation potential @£15m than say buy-backs. It gives us 2 cracks at the Nth Sea, and we won't have to sit back and wonder whether it holds a few hundred million barrels of oil. It will also attract a lot more eyeballs, and help people like myself to hold onto my shares and not bank profit before the announcements. Finally, I'm hoping for a modest increase in the dividend to say .16-.17p range.

All of the above should help us above 40p before the drill result comes in. If both turn up oil then I have no idea what the upside will be, other than A LOT! AIMHO GLA

Analytical they must be chipping at such a tiny rate that no-one can see it.

Here's another thought, the people who will be buying here until we get news will be current holders. The reason is very simple, they've already made the decision to invest, and if they still have faith they will be averaging down with any spare cash. The problem is you need a lot more 'new money' for the sp to really move. And we're unlikely to see any new investors as there's no +ve news to attract them. You know how I've been saying that AIM is news driven, well you can see it now. There will of course be plenty of investors that have us on their watchlist. But why would they bother investing now and carrying risk (macro, unknown costs, production) if you don't have any idea of when you'll next get some +ve news to push us upwards. It's why we go down when the Cu price drops, but don't move upwards when the Cu price increases - we don't have costs AND we don't have a reliable pattern of production established to go alongside them when they finally do arrive.

New investors (and current) would have more faith if they saw another couple of 650-700tn production months as it would be less risky to assume we would have costs close to $2.50 on such a run-rate in the absence of costs. It's a shame as mgt were playing a very good game up until this recent decision. I guess we'll have to hope they release some good cost news in the next week or so (as mentioned by TB in his interview). But even then, I certainly won't be expecting much of a rise until we get some production figures to go alongside them. We've got plenty of time to see if I'm right - It's not like our money can go anywhere when stuck in an illiquid, micro-cap with no news on the horizon.

I'll leave you guys to it until cost news arrives then. GLA

MatesRates, thanks for a well reasoned response. As I said in my last post, I agree with the Cu price and unknown cost profile as factors, and yet...
- Cu price is going up, and we're not. We're at record lows. The Cu price broke $3.00 in October 2020, during the pandemic, which was hardly a time to be optimistic. Combined with all the issues we've had, plus significant dilution, and we still never got to this level.
- Costs have been unknown all along. And inflation has been with us for +6 months. And yet we still never got to this level. So a factor.

So let's look at the timing of this precipitous drop. It occurred the same day as news of an all-time record breaking production month, which is an extremely +ve factor. Not a good production month, but an all-time record breaking month. The sp dropped and we're now staying there even with Cu showing some strength. If an attribution model was developed it wouldn't be hard to spot where another factor has presented itself.

Xenor, nope. AIM is news driven. You create a black-out, even for 2-3 months, and money will move away. This is especially the case if there's risk associated with the company. Anyone who has been investing in the market for even a short period of time knows this to be true. So a great way to address risk / trust issues is to provide more regular news. It also serves to BUILD a base, and lessens spikes. So very much the opposite to what you're saying, and why I was so negative on the decision the second I read it. Ordinarily one would be very happy, but mgt shot us in the foot with this ill-timed decision.

Analytical, so where are these contrarians you speak of? Fact of the matter is there's far less contrarian money versus money with less risk appetite. So give the market a second month of +650tn, and even better a first time +700tn, and watch this re-rate. Give them another month, and watch it re-rate again. No yo-yoing as Xenor has proposed, but a step by step re-rate. This way the market can also take the costing exercise and combine it with a pattern of expected production. One more quarter of monthlies and the mcap (company) will be on a far stronger footing, which may be required if we have another equipment failure or some other left field issue that limits production and costs money. They'll need to dilute by 10% just to get £2.5m now. Madness.