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Hmmm 6% dilution, and the SP dropped by 5%, coincidence?

Thanks Dan.

So between the directors shares and the $600,000 in placing shares, Mill End will have near £1mill of shares to sell as they see fit?

They will hold near 270mill shares and the shares in issue will increase to approx 2,000mill. They will hold around 13% of the shares in issue?

So the good news is only 6% dilution, but the bad news is they will have near double that to sell…

Ahh I see - thanks SW

Fully funded for heron, and the raptor drills I believe?

Heron brings cash from oil sales.

Further funds (if required) could be from forward selling of oil… or if REALLY required, a placing at a SP multiples of todays.

So… in summary. Talk of a placing and a fund raise is just not going to work. Trying to put out a forrest fire with a water balloon here 😂… should have bought at 3p. Or 4p. Or 5p. Now 7p, and in a few weeks we will be saying ‘should have bought at 7p!’

Can’t wait for next week..

Another good week with MATD. Didn’t think we’d manage 7p today, but we did.

Fantastic. Looking forward to next week.

GLA

Robbie giving shares to Gary McC is an interesting one.

Best guess Mr McC (like all investors) was not happy with what happened in January and this was a sweetener to stop him selling any shares? Any selling by Gary McC would have added to the panic in January. Pure guesswork on my part.

Anyway if, at the end of this, all CLNs are cleared with only $600,000 of shares issued then they’ve done well. But we don’t know the details of the other CLNs yet. And as I’ve shown I don’t understand the position with the directors shares.

Now we see the extent of the fire fighting in Jan, I feel a bit for RM and Gerard K-G.

Ok, had a bit more time.

So $600,000 to be paid - is this cash or in placing shares?

Then the potential of another $800,000 in shares of the financing doesn’t come through.

Then they also hold 55.3mill + 80mill of Directors shares? Are these given back if all other payments are made?

Best case they have $600,000 of shares to sell.

Worst case $1.4mill of shares + 135mill directors shares?

Clearly I don’t fully understand the RNS… anyone got a better idea?

Quick scan….

Shares to mill end are already held by directors… no more to be issued, but they hope to clear the loan and not issue shares (presumably closing the funding that is in work).

So the additional $5mill is to help clear the CLNs

(I think - v. Rushed!)

So to me - a good RNS

Up near enough 1p this week.

Agreed Thor, that’ll do …then RNS next week or the following re V1 preparations.

I think you are right, Dan.

We all suspect/know there was no production in Jan and little in Feb until funding came through via the CLNs.

So production will be poor and they want to sweeten the new with the mill end settlement. So they are deleting waiting on that.

I’d have thought hey could sweeten it with talk of current production (to date) for this quarter but nevermind. And as I said, we all expect the Q1 numbers to be bad so the news is already expected / priced in?... 🤷‍♂️

Yep AI, clearly MB issues the LP (well special certification to be correct). Not the MG central government and cabinet.

Enjoying the SP? No? A bit high for you? Unfortunately my friend it’s going to keep moving higher this month.

I should say, the email I sent asking for the CLNs tone clarified - I got no response. However this tweet shows they are aware the CLNs are an issue. It shows they are working on sorting them out. I now more than ever think the extra $5mill in the finance (compared to before Xmas) is to help clear them.

Admittedly (Legalwolf) this is a fine example of positive reinforcement lol!

But that is my gut feel..

Hi JC… it’s also Robbie is trying to rebuild confidence and he has used Twitter for PR. He is just not going to put something on Twitter that pre-empty bad news IMO.

I see this as a v. positive tweet… Mill end CLNs could account for up to 40% of the CLNs if we consider the interest.

Enjoy the coronation JC!

6.3p resistance… that’s why I was happy with 6.5p today.

In the end we closed below it, but I expect it to be history next week

Agreed sniffer.

My guess, however, it is favourable. Robbie wouldn’t have said anything about it on Twitter if he thought it unfavourable..

Hamm 7p would be amazing.

I’d be happy closing above 6.5p tbh, teddy to push on next week with no resistance.

(I mean news is anticipated on VR1; rig mobilisation, in the next few weeks)

Astro … it’s a mix of things

Technical analysis, it’s in an uptrend, the SP had retraced and is now starting the next leg. So, from a TA point of view this was going to happen.

But, in addition, at the very least there is news on the velociraptor drill. This was always going to move the SP.

However, the work by master uncovering circumstantial evidence on new blocks is also helping I expect… as is that meeting in the Isle of Man..

Anyway, I expect to see 8p, hopefully 8-10p next week (without news!)

Fair comments.

I’m always put off by companies that don’t mine and sell anything. Everything hinges on funding and what dilution happens along the way.. . And monetisation can be SO far away... near term (already) financed production are always more appealing .

I guess another part of the equation is FAR is already a producer, how money has been invested in the mine plant and equipment (although they will need to raise fund to expand production).

But perhaps part of that existing CAPEX is baked into the FAR higher MCAP?…

Nevertheless. Here.

MCAP £3mill…. Resource is more than FAR so more than $2bill..