Member Info for Glib

IAMGOLD will be concentrating on their new mine at Boto for a few years. As long as they invest $4m over the next 4 years, they will have 51% of Dalafin. This money will not be going to Oriole, but into the mine. If they invest a further $4m in the subsequent 2 years, they will own 70%, leaving us with 15% (Although the Stratex website states 90% rather than 70%). I do not believe the 15% will be a free carry either.

So it could be 6 years before we even know if there is going to be a mine at Dalafin. Even after 6 years, IAMGOLD may still be working on Boto and decide to wait until that resource is winding down before starting on Dalafin.

After all the noise made about how we should be investing our money in ThaniStratex, they have gone very quiet (which was always the norm for that project). I believe it is still in the initial stages and this could also be a 6-10 year wait until we know if there is going to be a mine built - which we will then need to contribute towards costs for.

There is very little in the way of short-term income generation and the market is relecting that in the SP.
Just my opinion, but if anyone can advise of where we are going to be making money in the short term, please let me know. I haven't kept up to date on all the other projects but don't believe any are in the later stages of development.

After his payrise last year for still not making any profit for the company, I think this may be his last year unless he can turn things around. I'm pretty sure we can pay less for a CEO who can lose money for the company.

I'd say 2 weeks as that should be when the hearing takes place.

Be careful with that. Lowering your average is fine, but best to do so only for the short term. When I do this, it is with a view that I take small chunks of profit from that extra investment (if possible). This will keep your average down while reducing your exposure. I tried to do that with Mayan, but got caught by the 3 placings in quick succession - the SP never went high enough to cover the spread into a profit from the buy price.

I am not sure if the company has ever generated a profit with Stefan at the helm. Not in the last 5 years anyway, which does not inspire confidence if we have a producing asset.

Sorry to hear that Photo.
Think of the good times and know she'll have no more pain.

Nah - i've seen a couple that just said all resolutions were successfully passed. And that was it.

FH is not going to be heard until 5 Nov, so they have until that time to take a look at the other assets and see what could or should be done with them; prioritising cash generation hopefully. Depending on what comes out of the hearing, they can check the cashflow situation and get things moving again. They may need to reserve cash for whatever results from the hearing to get access to FH which currently looks like our best option.

Either that, or the share is getting shorted by the twitteratti again.

Thanks for that Helpful.

I had gone through all the dates for October on the Hearing Docket Calendar. Hadn't noticed that you could go on to the next month from the section at the top.

DOCKET NO. 06-0311245 & 06-0310754
WTXR OPERATING (TEXAS), LLC
GOOD FAITH CLAIMS

Looks like it is expected to take all day, but hopefully after the hearing it will not need to go to court.

Thanks for that sniffer.

Our interest in PQE and BLOE is currently worth around £1M.

If the magistrate rules in our favour, Forest Hill may start producing again quite soon. How much was this producing?

Looks like things could be messy here for a while and while I agree that they shouldn't be spending money before they have people overseeing things, I wish they could get the workovers started asap.

I was trying to figure out why they called it an update.
All the info in there we already knew, so there was no update, just restating the current position which has not changed since the last RNS.

What we really need is an update!!

I can understand everyone's frustration with Charlie as he was supposed to be keeping an eye on everything, but what are people anti McFraw? (just curious)

BrExit or an update from the BOD?

Do they have a projected timescale for the negotiations or investors lined up?
What are their plans for dealing with the debt?
We may need to wait until April to get any kind of answer from them.

Has anything indicated Eddie will go? Not sure if I have missed it.
The only thing that would suggest that to me is if he moves full time to PQE.

Whether Eddie is replaced or not, if any further assets are bought before we get sustained production and profit for our existing assets, I can't see the company recovering. We were on the operating table when Eddie joined us and he has done alot to cut the rot and shoar up projects to give us a fighting chance. I personally hope he stays as things look to be coming to fruition.

Was Petroteq's grand opening not supposed to take place in September?

I know they said their storage was at capacity and were producing 200bopd with 100 to be added each week, but did the opening event take place yet?

I doubt it will go over 3.5p until news on Cavo Sidero. Even if they got financing for the 900k debt, there is still no income and only when that changes will this move up again.

As a long-termer here, I would advise a little caution. They may still have some money, but there is not much in the way of sustained income while they are still spending a fair amount. I do not know when their next project will start generating funds, but this should be factored in to your strategy. I am still holding here but only for the long term position

I think it would depend on the mcap of the companies and what cash and income they have. We are not too clear on any sustained income here yet and waiting for other companies for news that will move our SP. Hopefully know more by the end of the month.

I guess some don't even want to wait for the plant to open and get confirmation that petroteq can do what they say. The rollercoaster continues.

So when did the share certificate price change from 50p to 25p ? I can't remember the vote for that at the AGM.