Member Info for HawaiifiveO

I fully believe Galileo will re-rate significantly and could provide a rare blue sky return from the AIM resource space.

Having listened carefully to the 2 recent media interviews it is very clear that a toll Zinc mining deal will be completed with Jubilee Metals, the interesting wording from Colin Bird is that it needs doing quickly - I also believe Bird is working on the small scale Mining Permit required for the Star Zinc project, he has good connections in Zambia which should enhance the process.

Fact is Galileo is below radar, the majority of retail investors do not research and simply follow the momentum herd, big money is made in spotting significantly undervalued companies, I fully believe GLR is now is multi bag territory - buy now whilst the company remains below radar in my view - with only 404m shares the share price move will be dramatic when volume increases.

The key statement from Bird, when asked to evaluate the main investment proposition, he states....

"We have a £2m company that will be generating income of £10m" we also know, all being well, that income combined with associated news-flow is a relatively short time away.

The next few weeks could be very interesting here, more-so as investors are starting to return to the junior sector.

DYOR etc

At the shareholder event in March John Buggenhagen was working on the seismic data and had been for some, the plan was to identify the very best shallow proposition for AST to eventually drill.

The other aspect of the seismic was to assist the move into Croatia - John was very very optimistic about whole company at the time, he needed to be because attendees were frothing at the mouth for retribution had we heard the same old stories from Colin.

I do wonder what has happened since March, the AGM seemed pretty neutral, not helped by JB not being there. I have to say having left the March event I was very optimistic for the future but, alas, the status quo remains and now radio silence, more worrying is that JB has 'vanished'

It seems Colin only comes out into the public domain when he needs to raise cash the days, long gone is the optimism, the frequent presentations and media events, the PR team seem comatose also.

It is hugely frustrating, the recent takers of the placing are now 45% under water on their investment, something has to give, the market needs an update on a number of fronts.

Shareholders are crying out for leadership and expect to be updated - since the AGM Hutchinson & Co have gone into hiding, radio silence at this time is not satisfactory.

Over 3 months on from the very positive commentary at the investor event - John Buggenhagan stated AST had one of the best projects he had seen - nothing promised has materialized, in fact John seems to have vanished into a puff of mist. Why has he not appeared on Proactive or done some media for example?

Hutchinson managed to lure in some institutional investors in the last placing, what did he tell them, something positive for sure but what ?

In respect of the compressor, there seem to be confusion, it was never going to be available until Q4, JB said so clearly at the event in March - if AST do buy it treat it as cash, it can be sold for full value (even more) according to the same JB. I was not at the AGM so I assume it is still coming.

The market is crying out for news on many fronts, quite why such radio silence is hard to understand.

Tuesday 23rd July - must be feeling confident !

https://twitter.com/DavidBurton1971/status/1148334175679930369

It is sheer lunacy the market only values GLR around £2m - Bird's claim of this company delivering annual income of £10m is very real indeed, at no cost to the company either, OK they need a Mining Licence but I suspect the wily old fox to get that sorted PDQ.

The offtake with Jubilee Metals is a simple affair as Bird is Exec Chairman of JLP, I have been building a position, the stock is illiquid, it is hard to buy decent lines of shares so the key is patience, this could be 20+ fold gainer if all goes to plan.

DYOR etc

I think the never ending & ongoing Standstill Agreements are exhausting both holders and prospective buyers. This matter really does need to reach a conclusion.

If the major shareholders are trying to buy the debt from the banks then clearly it is a question of at what discount - the recent misleading article on Sh&reprophets suggested the banks dismissed their first offer out of hand - it's a guessing game - what discount (if any) would HSBC and BNP Paribas accept?

Has anyone seen a deal over recent times where a consortium of banks would sell their debt for a significant discount? In my view they may be prepared to take up-to a 25% haircut but I suspect not much more. I doubt that 25% would be enough for the major shareholders who are probably pitching at 50% (or more)

It is clear from comments made by the company at the AGM that everyone is working hard to reach some agreement, the question is what level of debt could the company sustain under current operations, they made a $3m operating profit in Q1 under restrained finances.

The situation is totally unclear - made even more challenging for onlookers by not knowing how operations are on the ground are progressing - Q2 numbers are drawing closer so some short term news is imminent.

If the major shareholders cannot buy the bank debt I wonder if the banks may accept a debt for equity deal with a conversion rate that has a realistic conversion rate of a share price of, say, 5p, obviously the banks would be aware the share price is 'false' due to the financing situation so 5p may be acceptable.

Whatever happens the banks need to be removed from the equation to ensure the future, under the new team there is a future, this could be a great recovery play but there is only so far you can stretch a rubber band - a conclusion is needed.

There cannot be much time for spud date IMO - very little time to get in around current share price levels also in my view, this was trading at 4.3p a month or so a go based on anticipation, hard to believe it is still sitting around 3p right now - but not for much longer I suspect.

Progress

https://twitter.com/zenithenergyltd/status/1148133672505270273

Those allegations posted on Blogspot concerning AC are scary - goodness me !

Having attended the investor event in March I have to say I am disappointed about the deadly silence coming from the company since the Slovenians refused to award the stimulation permit.

At that presentation the theme was to move Ascent forward, in a number of ways, without the need for the two permits (one has been granted since)

I think the finger needs pointing at John Buggenhagen in this regard - he was the fellow who did all the talking and had all the initiatives at that presentation. I never expected a near total news blackout on these initiatives since.

It is very clear that Colin needed an experienced oil & gas guy on the BOD but one would have expected, by now, some fruits from John's appointment . John stated at the meeting he would stake his reputation on turning Ascent around. Well actions speak louder than words !!

I also note that the new Non Exec has not kept his word at the meeting - he said he would buy shares in the company, well nothing to date !

I fully concur with others, now is not the time for radio silence - shareholders have a right to know what is going on - Colin should be updating the market regularly on a number of fronts and John needs to be more visible.

Now the numbers are 'visible' it makes a nonsense of the current market value placed on XTR.

The sale option agreement incorporated in the Hard Rock deal is $20m - depending on certain numbers it could be higher.

Alternatively XTR could either in Q4, but from Q1 be receiving $300k -$500k a month from the aforementioned deal. That is significant relative to the current £3.5m market capitalisation.

Shrewd folks will be adding or buying in for the anticipated re-rate of the stock - even at 3p the company would only be valued circa £10m

Hardly any stock available on-line currently - this is usually a good sign for XTR - the last run took the share price to 1.25p however far more significant news can be expected in due course than before.

A good time to get in or top up, this was trading above 3p in late 2017, mainly on hype but now the hard rock deal has been concluded who knows where it will go if demand for the shares kicks in.

One thing that strikes me about the new MTL team is their concern for the minority shareholders - just read the AGM statement for clarification on that aspect.

All 'deadlines' have been met with clarity via RNS statements thus quelling market concerns and avoiding panic selling - the ill timed and misleading article from Sh@reprophet led to around 1.5m - 2m shares being sold by nervous holders - the company was keen to communicate with shareholders via email soon after and before the AGM and then there was the concise statement.

On Friday the Co confirmed, earlier than expected, another Standstill Extension - this quelled nerves once again and the share price recovered nicely towards the close.

In my view, shared by others, MTL is a unique situation, it is no-ones interest to see the company go to the wall - luckily the major shareholders have deep pockets and have most to lose, IF they are trying to buy the bank debt at a discount and succeed the share price will rocket.

I can see this moving back above 1p, possibly this week and have decided to add to my position. Q2 results will be released around the 20th of the month, these should, once again, show an operating profit which can only be good for sentiment.

Fortune favours the brave, the folk that bought AAZ at 4p can now sell those shares above £1.20p - In my view MTL is another AAZ in the making.

The new team have to silence the stale bulls and bashers by delivering share price upside plain and simple.

RGM has been listed a LONG time and has lost decent folks loads of money - that legacy needs to be broken - bears will focus on the funding situation but raising cash the right way (not death spiral) with the right people can deliver surprising upside and market excitement.

The next move will be both interesting and crucial - in my view this is a good punt at current levels - bitter bears whose investment in RGM has been wiped out are now financially redundant - the company needs new investors, to get that there needs to be an exciting investment proposition.

Time will tell.

HTTPS://www.youtube.com/watch?time_continue=338&v=MT_D70tk-1o

I bet a few will not get to see the RNS until tonight - it has come as a pleasant surprise as I had expected news Monday - will probably see more buying on Monday therefore.

A deal looks likely - SP were adamant the banks would not agree to another standstill - I reckon around 2m shares were sold because of that scare story - if a fraction of those are bought back we could see this in the 1p range IMO.

Great news and avoids a nervous weekend - it seems a few never had the stomach for the wait, bet they will be kicking themselves now.

It does look a deal will be thrashed out IMO.

Time to buy

Colin & Co have remained very quiet since the AGM - I do wonder if something is going on in the background - AST has been leaky in the past - another press article maybe ??

I spoke with Colin Bird on Friday at the XTR AGM - his focus has changed and appreciates that production revenues are now all important as raising cash in the markets is simply too expensive.

During the meeting Colin said he had recently met a Government Minister in Zambia on non XTR business - I have bought into GLR recently, I find the current £2m market value incredible, as more news comes the re-rate could be dramatic - more-so with only 400m shares in issue.

With Bird being Exec Chairman of Jubilee shareholders in GLR can look forward to a good off-take agreement IMO.

My advise is buy now at current levels and reap the rewards - when the herd arrives this will motor.

This hit 4.25p and was heading higher before the unexpected placing - ahead of the spud still selling at 3.5p ?? - tomorrow & Friday will be interesting - RNS Monday ??