Member Info for Helpful

You need to get out a bit more.

Well you never will be convinced will you?

The company is cash flow positive at about $32/$35 a barrel. WTI is currently $60. When the company can remove the restriction on the Cypress well the cash flow positive price will reduce a bit more. Why in heaven's name would the company want to do another placing right now unless it is for a deal? It has cash in the bank, it is cash flow positive, has head room on its RBL and the headroom will be increased shortly: it can also squeeze more production out of the existing assets.

Unless something material changes, like the price of oil collapses, any future placing is for new assets or to develop existing assets.

DYOR

Ok.

A dagger through the heart is because you on here 24/7 waiting for it to go wrong because you think it hurts ML more than you. You would rather NTOG went belly up rather than ML prove you wrong and deliver shareholder value.

Sad but it is the same on other bulletin boards with other companies.

NTOG looks to have turned the corner.

DYOR

https://twitter.com/StockBoxMedia/status/1361660130849251335?s=20

Ah I see I made my point.

Amusing!

Slight consolidation and then another move up.

Keep trolling, if it makes you happy.

There probably will be another placing in due course but unlike a lot of other companies it won't be to keep the lights on or pay Directors' salaries. Placings to acquire assets or develop existing assets that increase shareholder value are just fine.

DYOR

Are you still sore about selling at 0.4p and telling us all RRR was heading South?

The previous RNS stated that production had restarted and Bago had tested their pipeline and kit with gas supplied by Block. Sales of gas have commenced into the Georgian Oil & Gas pipeline.

Pretty clear really.

I see you are trying to amuse yourselves.

5.26% up. Every single percent up must be like a dagger through the heart.

With the new Cypress well the break even dollar price is lower:

Overhead is spread over another 25bopd
Lift cost at the Cypress well is less than $10 a barrel and so the average lift cost is lower.

If break even was previously $40 it is now probably $32/$35. I could calculate it if I could be bothered.

DYOR

Exactly.

And two IPOs?

What so he can tell us it is going to 0.40p again with three active drill programmes and over £1mil in the bank?

https://twitter.com/proactive_UK/status/1360255854231105537?s=20

Long Term, I told you what I would do and I did it.

Three on the board now: no hiding behind behind it being 2 v 2 and AB having the casting vote as Chairman. This is a big change, it means AB has to carry the other two with him rather than rely on Nott and his casting vote.

For two years we have been pressing for board changes. AB has done a good job on the ground but RRR needs a proper board that is seen to be independent of AB and competent.

DYOR

The $800k is not just for Migori.

Drilling is planned at Blue Ribbon, Luanshimba and Migori.

Likely more will be required later in the year. Some drilling needs doing at Musonoi as well.

Victoria has gone into lockdown but it shouldn't affect the work on the ground now but might slow permitting down later in the year.

PS the SW target for Luanshimba is likely copper and cobalt.
DYOR

Working hard I see. The sp pops up a bit and out come all the war stories. I hate to see what they will be like at 1.5p.

As I said.

https://miningmaven.com/company-news/60-african-battery-metals/1115-power-metal-and-red-rock-see-shining-light-in-australia-gold-pow-rrr

As usual no understanding.

The ECR/FSV deal was done before the substantial rise in the gold price. FSV is the transaction what kicked things off on the TSX re gold companies.

There have been several such transactions since then. The valuation metrics are now rebased.

Any pre-IPO funding at RRAL will be done given current metrics and current demand not the metrics and demand of late 2019.

Both PJ and AB have confirmed that RRAL has had multiple approaches. No deal has been done yet and the initial exploration programme has kicked off. The purpose is to enhance value before a deal is done.

And, yes, ECR let its assets go too cheaply.

DYOR

https://twitter.com/Leviathan_Gold/status/1359511322702999557?s=20

Both legs over 1.20p and 1.25p paid. It looks like we have moved to a new trading level and the 1.2p resistance is behind us. The next resistance level is much higher.

JORC report on Migori next, AGM Friday (could be some surprises) and the Juno IPO early March.

DYOR