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I dont want to pee on your fireworks MM but if the Geo Thermal energy thing is even a thought then thats exactly the type of news that drives SP's and should be released.....but it hasn't ?

Its ironic that the discount negotiated by the likes of Bennelong of 5p a share when we were at 8.7p a share is probably responsible for the current price of 3p. I'm sure these people do DD and know full well they will collapse the SP with a discount so i wonder why they dont pay full price thus valuing the company themselves at its then current level and in paying full price, encourage it to go higher. ?
Unless of course they want the SP down to buy way cheaper next time.
I would say that statement was utter nonsense if it wasnt for the lack of any attempt to move the SP by management.
This lack of attempt TO lift the SP, put even a smidgen of hope out as the SP hits an all time low, bizarrely is why i think this is now a good punt because there must be something else driving them behind the scenes.
The only fly in the ointment, and they seem to have put it out there for just that reason, is this need a new project thing

so far, to put it bluntly, Bennelong's involvement has knocked the SP by 65% and their own investment by 40%

THE PLOT THICKENS :-)

I think they said in any sector in any country basically.
But why would you fund anything else over your own PFS ? that would have to be outside driven and if so maybe that is why LR did is exit stage left. Who knows ?

To put it another way..I think if they were to raise £500k tomorrow , people would still be discussing funding as the major issue within a couple of weeks.

Bricks
I really dont see further dilution at this stage as they are not permitted to dilute /raise a significant amount.
There is a possibility the current drill program (only in my opinion) is part of a finance deal or part of a plan to get the SP up to raise, however if people think its the latter, i suspect that people will hold off rather than be diluted again.
I honestly think the SP is where it is and unrepresentative of the asset simply because the constant threat of 50% dilution makes this uninvestable. We just have to hope that MC is now working to order to provide answers to a financial saviour :-)

I think i broadly agree. Based on nothing but my gut feeling the project seems to have suddenly taken on a mission with a target. Considering we lost out project manager i now feel we have a purpose in the short term, get these (probably more than 2 ) holes done, we have a time frame and despite the lack of social media i think we now have the next 3 months mapped out for the shareholders and i think they must be financed.
We seem to have spent the last 3 years endlessly ticking items off a list , spending , money, getting little reward but for some reason i now seem to think these holes are not just more tick boxes on a list, they are key to the next step, timed to finish before we run out of cash, i dont think they would start them if they couldn't afford to finish them ect.
For the first time in a long time I'm feeling slightly more relaxed that by the end of the Summer I really think we will know where we stand. I would go so far as to say i wonder if these holes have been requested from an outside source ?

Shed
serious question
Do you think when they said they were financed for 12 months ( new project excepted) they were taking into account 700m drill holes and the associated analysis ?

We will just have to agree to disagree MM :-)
If Bennelong are on the BOD or for filling the role of the BOD then we need to be told yesterday IMHO I dont think its appropriate for a minor shareholder to take over any management with out the majority shareholder agreement.
If i thought for one moment that the running of the company was in the hands of some investment fund i would be off like LR...whooooosh :-)

I think you massively overplay the role of Bennelong. I dont know how many shares the hold but its a small number in % terms and nowhere near enough to hire , fire or carry sway with the BOD IMHO. i would guess its 10% £350k /.05 ?
If the BOD have relinquished control of 90% then we need to know and fast.
I dont believe DB get involved in management of their investments ?
i believe MC has taken control because its not sensible to hire anyone while we dont have any money, i very much disagree the board is now Bennelong and DB in fact i think its a shame that Bennelong didn't put someone on the board if they were able.

You take a chance Bricks, nothing wrong in that. Of course people get sucked in by management , as i have been saying, thats their job, to sell the concept to the markets. To an extent they have been successful i suppose, in their own minds, having got, how many ? 10 maybe placings away. Anyway what's done is done, its just a question of what remains to be done :-)
Either MC comes up with an alternative line of funding or we run out of cash.

Cri5p

I am sure selling at a 90% loss has served you well over the years but the clue here is "LTH"
Unfortunately that comes with extreme highs and extreme lows along the way. ...but people are in for the long term ( get it ? LTH)
Put simply this company probably wouldn't still exist if all the "LTH" or even just "all the holders" sold out on a change of fortunes here as you suggest.
You say.." I just can't understand why a so called investor in a company would publicly ridicule their own investment which is counter productive and in the process subjects themselves to a complete and utter lack of understanding of the company in the first place."
The point is here, hardly anyone has ridiculed the company, the asset or the work done, they have however got pretty fed up with the management for many reasons.
As i have said before i didn't invest in Justin tooth or Lawrence Read, i invested in the asset and all the ground results so far say i and many other LTH were right to do so. Chairmen and CEO and advisors come and go during a long term hold, thats only to be expected.
The amount punters can recoup here depends on that management and i for one get pretty fed up when some things are done that dilute that eventual return. We are where we are partly because of poor fundraising and mistakes. We are now in a real down however as i said, LTH's wait for the real ups as well. You say you sell out when you have "become negative"..well good for you but this is a mainly LTH thread because thats all thats left :-) so you might not really fit in here.
Anyway...Quite how someone who thought this was an open cast mine with only £6m raised so far can accuse others of "complete and utter lack of understanding of the company " beggars belief ;-)
HAW

As usual despite me clearly directing the post to MM, you have managed to make this all about you.
OK so you have not received any reassurance from management but as i originally said "many people have" which is hardly surprising given thats their job.
Your problem is you over think things, you dissect post here and RNS looking for a grammatical slip up or some hidden clue that the BOD might hidden in the last RNS or some phrasing in a post that you can misinterpret.
I think yesterdays question, is a series of holes ,2 holes or more? sort of sums this up. Its a series of holes, it might be 2 but a third might depend on the results of the first 2 so at present, total unknown. its just several related holes. If it really matters to you or you think the answer will reveal something new then you have a legitimate question for MC for the sake of a 20 second email.

"this allegation is in your imagination"
Oh god here we go again...People who publicly declared here their intention to communicate with or meet at the AGM, members of the board invariable say they felt re assured after. I am simply saying thats the BOD job, if the company was going to fold tomorrow they will reassure you it will not the day before it does, thats their job...lol . I have seen it and experienced it so stop looking for things to pull apart, accept that others have different views and just because you dont believe something, no one else should either. Right back to day one of FCR the BOD directors in all their guises have been reassuring people and look where we are now. Most of them made a lot of money and left when the going got tough. Do you think any of them would be inclined to reassure you now they have left ? Quite frankly if you are reassured by people that have run the SP down consistently for 5 years on the trot then good luck to you all :-)

Unfortunately there is no free speech on twitter, go ask people like JK Rowlings or Graham Linehan. Musk is hoping to kick out the cancel culture that is the left and restore the free speech.
Oh and stonewall is not the innocent stonewall of gay right anymore, its moved on to something far more sinister. Women fought for 100 years for their rights as biological women . Go look up the teachings of Stonewall on What is a woman.

MM
Keeping off twitter is a huge plus. Hopefully Musk will slap down the left wing that has taken it over ( for left wing read stonewall)
The problem is management in all companies are paid to tell you what you want to hear. they are never going to tell you the truth unless it happens to be what they were going to tell you anyway, they dont tell you they are going to raise, what's going on or even if they are leaving the next day.
Of course he says he is doing everything possible bla bla...he is hardly going to say he is not doing everything possible :-)
Many people have contacted management over the last 5 years looking for assurance and they all got it :-) but here we are.

Just to expand on that Grappa the Mkt cap has not moved on from the pre consolidation SP and there wasnt another placing left in that price. I know we were told that was all about being a grown up company and all that rubbish but the truth was they couldn't place again at a fraction of a penny and this will go fraction of a penny on another place and and raise very little.
no, imho we have reached a sink or swim moment now. If MC does not have an alternative method of funding its game over.

Grappa
If thats what you think then at what SP and how much will they raise at what discount ?

Spread is 14.5%
Its imposable to call now without a finance update. they could have the Ark of the covenant down there but without finance its immaterial. We just have to hope that continuing investigations produce interest generating results before the cash runs out . There is of course still a good chance that the ongoing investigations are to a request and are part of a possible collaboration we dont yet know about.

Grappa.
I dont think they are burying their heads in the sand. Toral is not a sandy area, I think that time here drags, weeks seem like months and really its only been 4 weeks since the comprehensive review and update of the 30th March :-) It is bloody frustrating because there are many more questions than the company is prepared to answer but the last RNS finished with "Further updates will be provided as and when appropriate." so time to forget about this for a while again i think. the ball is in their court.

"days after LR left."

That's that theory out the window then :-)