Member Info for G_G_G

god some of you need to read the rns'.

- no forward trading of anything. give your heads a wobble.

- beisa 250m shares released on government approval of acquisition. shares valued at 1.25p. lock-in for 12 months. note: government approval could take months. this is normal btw.

- henkries south 25m shares released now. so f'all and highly unlikely to have impacted the sp, if indeed they have sold.

- henkries south 200m shares released on final signing of documentation (note this isn't government approval). so will be released in the next month or two as it will likely take this long for docs to be signed. no price level or lock-in.

- henkries south 250m shares released on resource base being upgraded. this is at least a year away, but will act as an anchor. no price level or lock-in. resource target is f'all so they will be released.

- auo 260m shares released for fs on henkries north. this will be in the coming months when they secure funding agreements for the half billion. again no price mechanic. no lock-in. will happen.

easy to see why so many aim investors lose money. these bb's are for people to ask questions and learn something. most of you are throwing money at things and listening to h@lfwits saying 10x even when the goal posts have changed dramatically and angrily shouting down anyone with a reasoned different pov. everything changed on monday when they made a **** deal (see above and compare), and they have clearly signalled that acquisitions aren't necessarily funded by cash, rather dilution. beisa was part cash, part dilution remember they had to pay £7.5m cash (usd$10m) as well. this was a great deal to anyone who has an idea of how this works. huge resource, near infrastructure, uranium and gold. i invested for this and the clear signalling that soon to be agreed funding would pick up everything else. not true that last part.

do some reading. the sp imo will be lucky if it remains in the 0.80p-0.90p channel. if that breaks you have 0.6-0.7p drop very quickly. and if they do another ****house deal like monday's then you have a guarantee of that level.

mcfirth, how's l2? strong buying? you didn't even know when shares were being admitted ffs. it's f@@ls like you and moronington and growabrain that make me go back to hum to tell people to beware of the angry rampers like bushy. again no f'ing idea of how these things work. i told them about shg as well and to do the comparison. go back into my history to see what i made on that t/o. or i guess i was lying about the +5m shares that i accumulated over there for near on a year. and the 4.5m in i3e that also just got taken over. that was accumulated over years. i don't think i'm particularly clever, but compared to you mob i'm a f@cking genius.

Saud, I'd only feel sick if I hadn't sold and sitting on a loss. This rocketing (highly unlikely at the moment) wouldn't bother me in the slightest. I basically broke even by dumping first thing yesterday. Unfortunately it took a while to build my stake and lower my average to 1.1p, but I've lost maybe £500. This compares to about £12.5k at today's sp had I not sold. First stop is 0.8-0.85p. Next stop 0.6-0.65p range. Beyond that would be silly. I think it will hit the first range in the absence of news. Question some of you need to be asking yourselves is what will happen to the sp as hundreds of millions of shares are admitted in the coming weeks and months. I'll give you a hint, it's not going up unless the third acquisition is as good as Beisa and/or funding for infrastructure is announced. The latter is where you rampers should focus your dreams.

McFirth, I see the sp has declined by 10% - did you see that happening on L2 amongst all the supposed buying today? Talk about nonsense.

Clearly you've got nothing dbh. Best you give it a rest then eh.

You've already posted that Growabrain. It appears your memory has gone along with your reasoning. Let's have some fun, tell us why the sp has dropped after that wonderful acquisition yesterday.

Sorry trying to work at the same time as respond here.

Mornington, take a look at all the other posts that were sent to McFirth stating what I was buying just before hitting the button. You'll find they add up to 6.5m shares. And my average was pretty much bang on 1.1p. Dig a bit deeper.

Sanboy, you are correct that it's just my opinion, just like most people on here. You are also correct that the market doesn't always ascribe reasonable value to companies based on their development stage. These stocks are driven up by the herd. But the bubble pretty much always pops at some point. GGP is a good example. 88e and PANR are others. The herd get excited about RESOURCES and not the reality of when these companies will stop burning cash / diluting, and start making money.

Smarttrades, apologies my maths are slightly out on dilution. Here's the workings:

- Beisa 220m shares on final approval. PLUS £7.5m cash (I thought this cash could be converted to shares).

- Henkries South 450m total (200m on signing, and 250m on 10mlb RESOURCE). Note the RESOURCE number will be easy to hit, but they'll need to spend a lot of money proving it up. Beisa has $30m spent years ago.

- AUO - further 260m shares to be issued for Henkries FS.

In total for these two acquisitions on close (in the next few months), plus AUO funding (Henkries FS) = 930m shares. These are all yet to hit the market. So about 66% dilution. And there's over £7.5m cash to be paid.

Note: This doesn't include any more dilution for the third acquisition. If we assume a similar level of 450m shares you get to double the share count. Could be higher or lower, but you're getting up to 3bn shares in issue. There will also be more advisor and director fees.

And then you have AUO for any funding of up to USD75m to develop the Henkries mine. I read somewhere they will be taking a chunk of equity for this, which from memory was close to 30%. This would be absolutely fair and you want your main financier to have that much skin in the game. They would also want to make as much as possible from these projects. So add them up and you can see how 4bn isn't hard to arrive at.

Definitely money to be made. Mainly by AUO, Beisa, and Henkries Sth prior owners. But for PIs it's about timing. Or you need to wait years before the company is in production. Don't forget the circa $65m cost for Henkries mine development, USD$10m (£7.5m) up-front cost for Beisa, and at least USD$30m to be spent on Beisa and Henrkies Sth resource delineation.

So by my estimates you've got 4bn shares in issue and USD$100m debt by the time Henkries is producing and acquisitions are made plus resources defined. PIs will own far less of the company post dilution. Remember the 930m shares are guaranteed dilution just for the current 2 deals and a FS. The third acquisition and AUO stake dilution are TBC.

There's your workings. Some of you need to do a bit more research (and less b!tching). What's the current sp now?

mav, firstly it's good to have an exchange with someone who actually shares a pov and reasons why, rather than putting rocket emojis every time the sp jumps 5% and ****s the bed every time it drops by the same amount. and doesn't call anyone providing reasoning for their investment decisions (even if -ve) a deramper. those who paid attention yesterday could have sold and bought back another 10-15% of shares today if they had allowed another pov to enter their heads.

in response to what you've said, i agree with most of it. the thing is creating value in this stock for pis will be measured by mcap. at the moment they are diluting at an extremely heavy rate, and the mcap is not responding because some deals (e.g. yesterday's) are garbage. because of this the mcap hasn't moved, but the share count is about to move in a relatively big way, which is why the sp is readjusting to what the market believes the company is worth in its current state when 75% more shares are printed in the coming weeks / months. the sp not reacting +vely points to the direction of travel. the bet here is the mcap will be more than 3x current value when this company is realistically sitting on 4bn shares post acquisitions i.e. the mcap needs to be +£40m when the share count hits 4bn just to hold 1p. it probably will be given they will have solid resources (where there are resources), and funding (tbc) to further explore / develop. but i don't think it will get anywhere near £100m mcap for some time. and the number of hurdles that needs to be cleared are eye watering. anyone who knows mining will know the time-frames involved. if / when they hit £100m mcap the return here will be 2.5x. hardly inspiring for the risk and time involved to get there. having said that if the sp readjusts to 0.6p then you're looking at a 4x mid-term. and if they get to profitable production in 4- 5 years (earliest point in time) then yeah a 10x is definitely on the cards from this sp. but a lot needs to happen in that time. all of these acquisitions haven't even closed - let's see how long government approval takes. and then they only have prospecting permits, and not the many permits (environmental, community etc.) before getting to an actual mining permit. been here before. clearly others haven't.

as for people making money, well yeah the guys who are going to get 450m shares for adjacent dirt without even a resource base (not reserves) have done well. they will own over 10% of the company when fully diluted at say 4bn shares. the same goes for beisa owners with closer to 20% of the enlarged company. finance guys have already agreed to get up to 30% ownership and interest payments just for fronting the cash. of course they will do well out of this. guess who doesn't...? timing is how you will make money here. if the sp retreats 20-40% from this level then i'll be back in. and i'll be able to get 10m shares for the same outlay. it's how it works and why i've said timing is key.

Point out what was negative dbh. I'd say what I've been posting is balanced and realistic inc. my opinion on matters. Why don't you offer something of value - are you capable of that?

Sorry Johno, meant to say I agree with pretty much everything you've said, however I do believe the sp will be punished initially for 35-40mmcf production because of how far off guidance we'll end up. The market won't initially see common sense like what you've outlined. I think we'd probably end up with an initial 10-15% drop and then a recovery into the high 30's before the next two wells come on production. Hopefully +50mmcf and we won't have to worry about the 30's and can instead look forward to the 50's this year. PB just needs to deliver. GLA

Biggest risk is operational Johno. Infrastructure failure, well failure etc. If that happens the sp will get smashed.

Agree that production at the lower end won't damage the sp too much unless it's below 30mmcf combined. That would demonstrate a lack of understanding of the geology and them knowing what they're doing. One also needs to consider decline rates. And they would be way off stated guidance, which always hits the sp. This is why I'm saying 50mmcf combined should be +ve for the sp. We'll still miss year average guidance, but should hit exit rates. It would also mean investors can start pencilling in 25-30mmcf per well and start forward valuations of the company with more wells to come.

Main thing is no operational f@ck ups. And if we get a minimum 50mmcf combined production over 2.5 months plus two more wells being drilled this year then we're off to the races. One week to find out. GLA

What hole exactly Adnauseum? Mkt was led to believe that funding was being utilised for NEO acquisitions and development. Turns out it's not the case. I reacted and dropped 6.5m shares at my average of 1.1p today. The sp as I type is continually declining toward 1p. I got out and gave reasons for doing so. You're still in and losing more money without grasping the reasons why, even after they have been pointed out. You can't teach stupid indeed.

I suggest people read nlmbidc's post. It provides a brief run down of the huge amount of shares that have already been agreed, which haven't even hit the market yet. Beisa (700m shares @ 1.25p) was a good deal because there has been $30m delineating a significant RESOURCE base. Henkries South is a stinker - £100k + 200m shares to begin with for some adjacent acreage to Henkries. No Resource. In order to build a RESOURCE base money will need to be spent (consider what was supposedly spent at Beisa some time ago). And then another dilution event (250m shares) once a 10mlb RESOURCE is defined.

SP isn't going anywhere. It would appear acquisitions are being made with shares, and this one didn't even have a price attached or a lock-in agreement. There's still another one to go. And then funding will land, where they will take another big chunk of the ownership. You're going to end up with around 4bn shares here when the dust settles with acquisitions and funding. That means you need a £40m mcap to hold 1p. Those of you dreaming of 23p... Well that's close to a £1bn company. Hilarious numbers alongside the many years of development just to get 1lb from the ground. Look at highly profitable, dividend paying resource stocks like ATYM in copper. It's valued at £500m after hundreds of millions of £'s invested in exploration and development. It also has a net cash position.

It's equally ridiculous and amusing having these debates with angry !diots whilst watching the sp retreat.

Rob, can you not read? It's 200m dilution on closing of deal with no resources. And then 250m dilution when resource of 10mlb is released. You then have dilution from Beisa (a great deal btw for 1.25p fixed sp value), and whatever is done for the third acquisition. You're going to end up with well more than double the share count once acquisitions are finalised and funding is finally secured (as they will also take their 30% ownership of the enlarged share capital).

Adnaseum, yes I ran away from the second that rns dropped. And I've stated it and given the reasons why. Look at the sp and tell me if I was wrong?

McFirth, you seem to have completely lost the point I was making at the time that 1.25p was a good comparison level because it was tied to the Beisa execution price. This one is up to 450m shares after the acquisition is finalised (200m) and the company has spent at least $10m proving up 10mlb RESOURCES (250m). So clearly things have changed given the level of dilution and there's no execution price with any of this.

Mcap I suspect will be around £75-100m when all is finalised and the herd have arrived en masse. But if you have 3b shares that's 2.5-3.3p. This ain't going to £200m until it's closer to production. They have so much work to do just to get RESOURCES to RESERVES before mining plans are developed and building even starts. Maybe if the company was listed in Canada or the US it would get to those levels before a shovel hits the ground. But you're on the lse where profitable producers are valued at half of their US, Canadian and Australian peers.

Funny reading some of the stuff on here. People calling de-ramper haven't even understood the rns or have any idea about how mining stocks are valued. The reason this was a multi-bagger was the insinuation EVERYTHING would be funded without dilution. Clearly not the case and funding will drop once all acquisitions are finalised and full dilution agreed. Funding then takes 30% of enlarged share capital. PI share of company continually decreases. Value creation occurs with mcap increasing by a greater amount than the dilution level. Not rocket science but so many h@lfwits here.

SP 1.03p as I type. There may be a jump, but direction will be down. My guess is .80-.90p (£12m mcap). If that breaks it will get to .60p range. You've got 200m shares coming soon with this alone. Not to mention Beisa dilution soon(ish).

Mav, the maximum number of shares to be issued is 450m (not 250m). The first 200m tranche is on all agreements being signed. The second 250m share issue is after they have spent money to prove up a rather small resource of 10mlb. So quite a bit of dilution initially, and more to come later.

Reason why so many people get skinned in micro caps is they don't understand the likely direction of sp travel and reasons why. Dangerous combination of ignorance and emotion. I could be wrong about here and the sp doubles. But I highly doubt that will happen until the sp goes down quite a bit first. Some on here already squealing de-ramper. They also just happen to be the ones who squeal when the sp retreats by a few % (but not wanting to hear any of the reasons as to why). Timing, timing, timing.

Oh, and what's the sp now squealers? No doubt my de-ramping is the cause, not what I've pointed out. You can't teach stupid.

Forgot to say the 5-10x probability is very low from the CURRENT SP. Obviously if the sp value halves the chances improve, which is the only reason I'd be back i.e. when there's a much lower sp. If they drop a funding rns then people will be fine at this level. But that would then beg the question why they didn't acquire this adjacent dirt package with cash rather than up to 25% of the company (assuming no more massive dilution). The direction they've taken twice now suggests the next acquisition will be dilution based as well. And then sugar daddy will get their 25-30% ownership of the enlarged company (which I'd be fine with given what they bring to the table). Key thing to recognise is that by the time all acquisitions are made, and funding secured for development, there's going to be a much, much bigger share count. Potential value will of course be higher, but if there's double the number of shares it halves the return e.g. £60m mcap is currently 4x, but with double the share count it's a 2x. Still lots of potential, but timing will be everything here.

McFirth, the post outlines my reasons for dumping. The dilution here makes the probability of a 5-10x very low. I was going to keep adding up to 10-12m shares such was my conviction in the investment case based on repeated comms of NO DILUTION. I'm actually feeling lucky to have gotten away with a £500-700 loss from a £70k outlay. This new acquisition is nothing other than land connected to a known resource. The dilution is eye-watering for something that will require another +$10m just to define a resource. And when this happens there will be another 250m shares to hit the registry. I'd love to know who the investors are behind this Eagle acquisition. No doubt some dodgy connections given how much they have given away.

Chances of me being back here are slim. I need to see what happens when 200m shares are added to the pile. If the sp drops back down to the .80-.90p range then maybe. At least with Beisa the shares are priced at 1.25p. This is just immense dilution for dirt adjacent to something of value. And you have another 250m shares to come down the line when a relatively small resource is defined (with $10m outlay). There's also no reason to believe the next acquisition won't be just as bad from a dilution standpoint. Very misleading of JB to keep saying no dilution when they are clearly acquiring via this very means. I may be back if the sp is much lower than now. Otherwise good luck here - it's gonna be one hell of a bumpy ride (especially for the bedwetters).

Anyone care to look at my maths from the other day? I'm happy to be corrected but found it was a useful exercise to understand Casc 2 & 3 flow rates in order to achieve renewed guidance. As mentioned I don't think its imperative we hit 8kboepd average production for 2024. Imo it's far more important we have an exit rate at or above 13kboepd and they have started drilling the two new wells. If this can be delivered then +40p should be easy. Any major f@ck ups with infrastructure impacting production and timelines, and/or less than 50mmcf combined production is going to damage the sp. Having infrastructure issues would obviously do the most damage. Given we haven't heard anything yet one can only assume so far so good. Still a lot of risk here. PB really does need to deliver from now. The TRIN escapade was a debacle. He needs to show that he has a grip on the only thing that matters - Casc. Only a week to go before we hear something. GLA

part of the selling this morning was me (6.5m shares in 500k / 1m blocks). near on impossible to get a price at times. i waited until fully out to share the below reasoning. best was 1.17p and worst 1.066p. reckon i got out with slightly less than a 1% loss so about £600. reasons for selling as follows:

firstly, no solid reasoning for the acquisition other than they believe it to have good uranium resources, because of some airborne anomalies. and its located near what we know to be very good actual resources. note the words capitalised folks because they don't even provide an estimated resource. and there's a big difference between resources and reserves. in the same way there's a big difference between inferred, indicated and measured.

no dilution obviously doesn't apply to acquisitions it would seem. i was led to believe from all jbs bluster they would be closing any acquisitions from the yet to be announced funding. given sp action i imagine others thought the same. instead they have committed £100k and 200m shares for the acquisition once all paperwork and regulatory approvals have been agreed. and then another 250m shares if they can get to just 10m jorc resources. it doesn't matter if they do this in 10 years. what matters is whatever is in the ground (if remotely good) is going to cost shareholders £100k and 450m shares. to be diluting to this amount for an adjacent land position with airborne anomalies is unbelievable. absolutely shocking deal when compared to beisa, which at least had jorc resources that are significant. because there's no price attached to the shares there's no way of working out what they have paid, other than an absolute **** ton of shares. if the sp goes to 10p (huge 'if' now) the value of this land with some airborne anomalies will be £45m. they also have to spend a lot of time and money to get to a jorc resource. jb is a clown doing a deal like this.

for all of you wondering why people are selling, the above is the reasoning. you've been diluted to oblivion for an adjacent land package that needs a lot of investment to become anything more than just that. not saying it won't have ur resources by the way. it will likely have something, but to dilute to this level especially when funding was indicated as the means of acquisition is both bonkers and highly misleading. i was truly excited about this investment due to the statements about no dilution and the resources being ideal for future value (ur & au). but you've just had such an immense amount of dilution for absolutely nothing. best of luck here folks but you need to recognise that jb is turning out to be the car salesman that many were suspecting. your next acquisition could be for god knows how many shares. and the only thing that will matter is the funding package, which is yet to be agreed and is now being spread across many more areas and stages before getting anywhere near development.

Yeah it's going to be tight imo Grocer. Few numbers below, feel free to correct anyone. From my not so good maths:

Currently averaging 6kboepd average until end September (assuming 5kbopd for September).

- 50mmcf average for Casc 2 & 3 from mid-October to year end = Year average 7.4kboepd and 12-13kboepd exit rate.

- 60mmcf average for Casc 2 & 3 from mid-October to year end = Year average 7.8kboepd and 14-15kboepd exit rate.

- 70mmcf average for Casc 2 & 3 from mid-October to year end = Year average 8.15kboepd and 15-16kboepd exit rate.

So we need 60-70mmcf combined average for the 2 x new wells to hit guidance range. Reckon we'll end up around 7.5kboepd based on a feeling that Casc3 isn't going to perform in line with Casc1 production curve.

Personally think the sp will react quite positively providing we're closer to 7.5kboepd with exit rate above 13kboepd, and we have announced the date of the next two wells being drilled being this year. Even with the steep declines we have seen most will be able to work out that we're going to be producing circa 18kboepd when the next two start production later Q4 / early Q1. From there it's simply a matter of adding two wells per quarter from cash flow until we max capacity.

I see the next set of production results as less about hitting guidance and more about clearly demonstrating the wall of cash is coming next year. We just need +50mmcf average production for Casc2&3 in Q4 and the rest will take care of itself. GLA

Feels like I'm talking to myself here :) Picked up another 25k the past 2 x days. Fully loaded for 250k @ 1.32p. I can't find any angles where this goes down unless the budget has something that will rock all UK stocks, which is quite possible. Otherwise this looks unbelievably solid for the next couple of years. Looking forward to next month's update. Hopefully this will garner a bit of attention and we can start moving back toward 200p. GLA

SmartTrades, how dare you be so sensible and realistic. Deramper! Troll! Or in the words of Growapair, how pompous of you (I'm guessing he consulted a dictionary on that one). You need more fire and rocket emojis. And don't forget the broker forecast.

All joking aside it is nice to see the upward sp movement today. Not big volume, but stronger than I thought it would be. The fomo is strong with this one. GLA

Thanks Mancub. To be honest I'm enjoying some of the exchanges I'm having on here. You sometimes forget about the type of 'investor' you come across on micro-caps with huge potential. Best of luck with your investments.