Member Info for G_G_G

Monstrous sell just popped up. I think it might be time to start emailing the company based on what has happened to date where the sp started cratering due to insider selling. This has happened multiple times now. Most recently we had over 1 month of chasing this inept bunch of pr@ts before they finally told us what was going on. The size of the trades suggests we could be about to get another surprise. I'll craft a message for the NOMAD tonight that we can all send. If the sp continues to fall it's worth calling them as well, and then it's an FCA job. The last drop showed a complete disregard of their fiduciary duties to all shareholders. Utterly disgusted with this mgt team.

SireConsALot, funny that you're the one posting on the weekend. Why aren't you buying millions of shares at the moment? Is your trading pot stuck in PANR?

I know you'd all prefer a copy and paste of the ramping garbage that SirConsALot produces, with accompanying rocket and fire emojis, but I'd prefer to stick with the reality of our circumstances, which is the massive 'mgt discount' being applied for Calamity Baay through his years of broken promises and amateur f@ck ups.

At least the 9p ceiling that I was calling is likely to provide decent support.

I cannot see Kestrel selling down. They would know the second an RNS lands, showing them reducing, the sp would crater, effectively locking up more losses for them when the company is trying to extract value from a full or partial sale. Same goes for other major holders.

I'm hoping this trading is more to do with trying to cap the price so another party can increase exposure in the run up to a sale. Kestrel, like the other major holders, and us, need this f@ck up mgt team to make a deal. The only TR1 shows an accumulation by Slater. If we get more of the same this week, then I'd hesitate to say that we're 'in play'.

There were quite a few interesting trades yesterday. Another for £120k, and then blocks of 25, 50 and 75k. No doubt buys and sells, but hopefully signs that something is brewing.

Let's hope it's part of the usual leaky way this company is managed, but for once in a good way. It's a good-sized trade, but I think we need another 10 of them before we can start to believe that something is going on.

'no level of commercial gas can remove the management discount completely though :)'

sturm, it would also seem no level of mgt f@ck ups will motivate some people to remove the discount i.e. calamity baay.

'pb follow-up update (key facts)'

john27, i would have thought you and others would be aware of the danger in relaying anything that pb says, followed by the word 'facts'.

- casc 5 is on steady production, so why no update? it's not like this well, and casc 4 haven't cost shareholders an immense amount of time and money. and before anyone says, 'we don't report on single wells', that's not correct. he reports on good wells and will no doubt do so if cr3 is a success. another one of baay's 'don't look here, look over here' responses.

- why has casc 3 not moved forward in any meaningful way? how long does it take to fix a pump? seriously, wtf have they been doing with casc 3, other than f@cking a raise, slithering around to find emergency funding, and f@cking casc 4 (twice) and casc 5? they did get cr3 right, so far, slow clap for calamity baay.

- and there we have it on casc 4 = kicked into the long grass.

it's great that central looks like it could save the company whose sp calamity baay has single-handedly destroyed, but there's absolutely nothing to get excited about on anything they have completed to date. casc 3 and 4 have gone nowhere, which is an extraordinary amount of time and money on two wells to still have nothing of benefit to shareholders. and he appears that he wants to hide casc 5, at least until he has some good news (hopefully) on central. pretty much sums up conjob baay's way of working.

i honestly do not understand how people can get remunerated at $800k for delivering f@ck all, except for destroying shareholder wealth. god help us if central is poor. but not to worry, conjob baay will find a way to keep folks distracted 'don't look there (garble, excuse, b@ll****), look at the pricing contract changes in another year'. let's hope we have some good central news in a month with net production of +10mmcf.

Fwiw, I think reason 1 is a legal and reputation minefield, so not at all saying it has a high probability of happening at that sp level. But it could happen at a level that stands up to scrutiny and challenge, which imo would be anything above 30p.

Reason 2 is also possible, as it may be part of a deal to ensure FID sign-off i.e. playing the long game. This would / could be a deal where mgt and major holders, who could be a legal risk, also get to participate, and PIs get shafted. In other words, something similar to the last raise with an 'opportunity' to buy for PIs, but you need to have cash at the ready. Dunno, just a bit nervous about what I'm seeing, and what my gut is telling me.

Following on from my previous posts regarding how PIs can get f@cked in some way, I'm concerned by what appears to be share price suppression. Reasoning is that I have picked up 2m shares in a little over 1 week. And I have also seen some very big buys that are not mine. The sp last week kept getting pegged to 7.3-7.6p for the most part, even after my buys. And now we keep getting pegged back to 7.7p. Every time I buy 100-250k chunks, the sp gets pulled straight back to a level that appears to be limited, even with all the other chunky buys surrounding mine. What do folks make of this?

My concern is the sp is being deliberately suppressed, and the only reason I can think of why this is happening are as follows:

1. Bad: Major shareholder selling to keep sp suppressed in aid of a derisory take private by a consortium where mgt can argue the market is broken, and a fair valuation is 20-25p.

2. Bad (but less bad than reason 1): The sp is being suppressed to allow for a strategic partner to take a significant chunk of the company at 5p rather than 50p, plus a chunk of the project.

3. Ok: A major shareholder is offloading for whatever reason and is happy to take what's on offer. Why they would be doing this, when we're waiting on transformational news, is beyond me. But it's possible. Doesn't explain why we're being pegged to no more than 8p though.

4. Fine: PIs are trading at the edges for 10% gains. Again doesn't make sense for same reasoning as no.3, and doesn't explain why we're being held at this level.

Happy to hear other thoughts, but concerned about the sp suppression, which is the main thing holding me back from taking more.

technician, if majors used 'the most recent share price' to value assets in a t/o situation, the mining industry would be a ****show. i suggest you look at strategic partnerships and acquisitions in africa (tier 3 jurisdictions) for major iron ore projects and their key metrics versus zanaga. some examples would be simandou, tonkolil, mbalam-nabeba, genmin.

look at the following multiples:

- strategic partner (% purchase) or full t/o valuation

- resource size

- resource type (high v low-grade) - important for 'future value' given the shift to 'green io'

- capex requirement

- npv

- development stage e.g. permitted, partner/funding search, construction, first ore etc.

then look at how we measure up on key metrics, such as % npv or 'implied value per tonne' (keeping in mind our price per tonne is far greater than other projects). we don't come close on any measures. and that's with low capex requirement versus the other projects and much higher priced product now, and in the future. then consider the 'power board and major shareholders'. this is the project that makes them, and the generations of their family that follow, incredibly wealthy.

for me, the only risk here is that pi somehow get f@cked over when the big boys get together. this could happen in a 'take private' at a derisory level. but this would no doubt result in legal challenges from some shareholders if, for instance, if they offered 20p. again, ai suggests this is low probability because of the 'names' involved, and whether it would be worth it, fleecing a bunch of pis who have supported the company for many years. a ****ty offer for a take private that ai believes would 'pass' the scrutiny of the courts and public opinion is 30p. i'd imagine they would also need to do this via a consortium of investors, likely with the backing of a gulf fund.

the other way we could get f@cked is by them diluting heavily in a fundraise to allow the major partner on-board. this of course would dilute them as well. so it's the 'value' applied if, for instance, they allowed the strategic partner to have 50% at a project level for a free carry of stage 1, plus 20% of zioc with a $100m fundraise at say 40-50p. this effectively locks the strategic partner into the project's success via a 'down payment', immediately re-rates the share price for folks to exit, and puts a floor under the sp should the partner make a bid in future. the 'power' board can also take some money off the table at this juncture.

anyway, there's lots of ways to skin the cat. the only thing that matters is the bod and major partner don't try to squeeze us out in some way without a decent offer of +30p. anyway they value the project once we get that partner on-board is going to hugely re-rate the sp if we don't get screwed over. even the lowest end at funding agreement stage, you're talking 5-10x depending on the structure of the deal.

literally the only thing i take comfort from with this d@g is that kestrel are sitting on immense losses, and has stated they are winding down the fund and looking to return money to investors with strategic divestments. tig was name-checked in their announcement, so they will be all over our f@cking muppet exec team.

and yeah, you always have to wonder how far along their discussions with interested parties were in the first place if we're still waiting 2 months later. they got forced into updating the market on the ****show h1 numbers because there was constant insider selling, and it took pis forcing the nomad for them to own up. the sad reality here is we will know when news is coming, good or bad, by sp movement days/weeks before-hand. shocking mgt on every level.

Clearly you did have the energy, Johno.

Domus, I take it that you're the one who has said a Karamat well is being planned and that IT COULD impact CR3 timings - is that correct? If so, where did you get those 'facts' from? It doesn't appear to be PB, although he does like to tell PIs things that aren't in official comms. And therein lies the problem.

BB, you would think these clowns could get a deal that was already in motion over the line within 2 months, but that means you believe there were wheels in motion for DIS and they weren't just trying to deflect that they were forced to provide an update due to sp action and PI pressure on the NOMAD.

For a TU you have to go back to January 2024 to see when they released the 2023 trading update, which was the end of January. They skipped the TU last year due to us being in t/o situation. Unfortunately, they provided the 2025 half-year update at the beginning of September, which means we could get last year's TU anytime from a fortnight to the end of February. Knowing mgt, I think they will want to get something over the line before they release results. If you've managed to sell the family jewels for more than $250m, or the whole company plus debt for +75p, then it doesn't matter where 2025 ends up.

Hopefully, something lands in the next couple of weeks and Slater has made a move because they have heard a deal is close. GLA

Johno, so you're saying that someone on Discord has just made something up about another Central well being drilled, which will push back CR3 hook-up...? So much for the Discord fanboy club dealing only with 'facts'.

Also, do you not see how unbelievably unprofessional it is for Calamity Baay to be saying February to you, and yet putting in a RNS Q1. Either it will be in February, and he should relay this to the market, or it stays as Q1. And let's not get into any argument about it being one and the same, because it's not. There's potentially up to, and over, 1 month time-frame difference. It's utterly ridiculous that he's giving different messaging to a PI versus the market.

As for all the questions put to Baay, perhaps the only thing you should be telling him is to provide the market with an update on the litany of things that are important to investors. Being more specific on CR3 hook-up for starters. Casc 3, 4 & 5 that he wants us to conveniently forget. A compressor timings update with incremental production guidance. And what the plan is next when it comes to drilling Central and/or other areas post CR3 drill results. It's absolutely ludicrous that this information trickles out of a PI group (with added spin), and not the company itself, through official channels or at the very least interviews. Whoever is responsible for the rumour regarding CR3 hook-up being delayed should share his/her source, and if it's not Baay, should shut the f@ck up. And if it is Baay, then he should be taken to task for saying such thing to a PI and not the market.

And if true, to be drilling another Central well without knowing CR3 flow-rates is irresponsible to say the least. They were drilling the 'sweet spot' at Casc, the field they know so well, and got f'all oil rather than gas. If they drilled one well, hooked up and flow tested, they could have saved a chunk of money on the other. This is basic mgt for a geology they clearly still do not know. And how the hell does it take up to, and maybe over, 8-weeks to hook-up a well on-shore anyway? Why haven't they prepared everything required to cut this time-frame? Canada and the US take half the time. Pretty much sums up our 'management' team.

Ex, thanks for the Solgold headline. The answer is yes, they are getting it on the cheap. Interestingly they have spent a similar amount as us on Cascabel to date (+$320m). Given our mine has a higher NPV, and is a relatively straightforward build, with the exception of the slurry pipe, I'd say in the event of a full-sale our number should be at least 20% higher. Their final permitting, development, and production requirements are also far more complicated versus our project. Block caving is a known minefield, and Ecuador is becoming an increasingly difficult environment (being the operative word) to do large-scale mining.

You pretty much posted the same thing as I was going to say, Stas. I wouldn't say it's overly negative here. Even I'm cautiously optimistic on CR3 given the net pay and log results. At least we now have something concrete that could re-rate the sp to above 15p in the next couple of months, and not pricing contracts in over a year, or a compressor that won't deliver all that much in terms of incremental production (and still needs to arrive and be installed without any f@ck ups). CR3 is already partially de-risked, so it's now about online execution, which thankfully Calamity Baay has nothing to do with. And if it comes online at a very good rate above 10mmcf, then we can look forward to the following wells with a lot more confidence than folks had just a few weeks ago.

SirConsALot, still following me around boards, I see. Still tragic. Tell me, how have your investments worked out lately? You had 1.4% of the company when you were buying millions more in the teens (so you tell us), so you're down over £500k here. How much did you get skinned for over on PANR? I'm not revelling in your losses, just find it amusing that you follow people and mock them when your track record is multiple times worse. And then there's the ramping (conning) that you like to do. Probably why you don't see a problem with Lyin Paul.

Just to let you know it was me driving up the sp today in the round trades. Up to 1.5m now. Let's see if it settles back down to the 7.5p range.

Another thought about the 7.5p level, other than it's a nice round number at £60m mcap for a raise, is that it could be getting held here for a take private consortium. I asked Gemini about this, and it said that it would be a low probability option (15%) given the Tier 1 names involved. It did highlight the company being incorporated offshore as having less rights for PIs, however it said that in order for it to happen, they would still need to demonstrate that 'fair value' is being offered. It said from a legal and reputation damage limitation standpoints, that 30-40p would be the range that could be considered 'fair' given the NPV for Stage 1, and the project being permitted. The reasoning, which I found interesting, is that the board can argue that market valuation is fundamentally broken, and this is the best way to realise value for investors.

Fwiw, Gemini pointed to the highest probability being a 50% free carry, likely by a Middle East partner.

sirconsalot, there you go again with making things up. you do realise the 'log on, log off' garbage just reinforces that you are a b@ll****artist. you're like donald trump, a habitual liar, who then turns around and makes **** up and calls other people liars. not to mention having admitted that you are happy to talk b@llocks to sucker in new investors, and try to reason that it's because you're 'supporting the company', rather than the reality that you are trading it.

copper, i think you should look at it another way. the few shares i sold have now been taken up by people like you. if there weren't any sellers the sp would be higher. so the liquidity is a good thing if you want in at 10-11p and believe this will jump on cr3. fwiw, a 10mmcf (net) well and this will jump by 50% imo. but we were saying that about casc 5 (and 4), and that didn't turn out too well. i like to think that central is different because it's a 'known' producing field. but so was casc, which we supposedly knew so well that casc 4 & 5 were in the 'sweet spot'. bottom line, if this comes up trumps, there will be a big re-rate. if not, back to 6-7p.

Aye, if you're talking about me, then I haven't 'sold out'. I've sold 300k (as of today), and still sitting on 1.5m.

As for another well, that's great news providing the flow test results are significant. Rather than posting about this, is the Discord Group asking Calamity Baay about when we should expect CR3 initial flows? Or heaven forbid, an update on Casc 4 & 5, those wells that took 12 months and over $10m to drill? I'm a little more interested in these dates than another Karamat well, where we have no idea how it will be funded. It's the sort of 'look over here at what's coming' hearsay that's unimportant versus CR3, Casc 4 & 5, and the compressor, which are going ahead but have a lot of ?'s

They must have built that extra 2.5m shares quite slowly over the past couple of weeks to avoid spiking the sp. Perhaps they were the ones who took us above 50p. Anything near/above 75p and I'll be happy to walk away having taken a beating, but still standing.