Member Info for ID78

Exactly norm.

Start drilling without a fundraise and this should be £5mill MCAP minimum. What’s the MCAP now?….

Core samples for ph2 drill holes CGN25-DF011 to DD017 have been dispatched to ALS labs with the remaining holes due to be sampled before the end of May’

I 100% agree , unkwn

Safe to say the volume of yesterday is not happening today.

No matter, happy to have taken a position here and hope to add later with profits from elsewhere. Definitely still under the radar and there is less than 40min shares free float.

I kinda feel the deal RNS’d yesterday was an absolutely belter given the MCAP

- free carry on drilling in exchange for up to £1.9mill shares in FAU

- retains 30% of the project

So rigs are in country. We are probably looking like 45 days to the next news on this deal being signed off.

Amara Kamara*. - 27,878,643. - 34.38%

Nicholas Karl Smithson* - 7,178,832. - 8.85%

Peterhouse Capital Ltd. - 6,145,497. - 7.58%

Rowan Carr. - 4,432,318- 5.47%

2Invest AG - 2,800,000. - 3.45%

Martin Lampshire * - 2,653,838 - 3.27%

So roughly 50% held by company directors… makes today’s volume and SP action more remarkable. The SP can’t hold for long if buying pressure continues

I need to look into that, but at least the 60min shares are going to the BOD and not free float.

Ahh E43 - I missed that, thanks.

As you say still not a lot …. but not quite the insane MCAP I thought we had..

Still cheap tho

So only 81mill shares in issue, 10mill volume today… and the SP is up only 5%? That can’t hold!?

There’s a crazy gap to 4.5p on the chart… 10 bags and that is a MCAP of £4mill ish. With good drill results that is achievable…

But for now even the payment in shares worth £917,000 from FAU is roughly 2 or 3x the current MCAP ..

If you look at FAU the MCAP is low (2.49mill AUD) so they’d have a sizeable % of the company (albeit I suspect through dilution).

My point is that drilling success will shift FAU SP significantly and those shares increase in value significantly despite giving away up to 70% of the project….

Free carry on drilling.

Bit of a belter - thanks BAMB for posting over on GSCU. So what are they saying - 45 days due dilligence and licence documents needed from MME of Liberia before all systems go?… 👍

Hey LW - completely agree with regards to the way RNS’s are likely being managed..

HarChris … the fact it’s taking so long to report tells me the gold grade for this pour is low and they are taking longer so as to continue to report high-ish pours.

I did suggest this was quite likely the remnants of pit, given how long a HL cycle is, and so low grade.

So yeah, I’m in the same camp as you HarChris, I’m not overly excited either way about the RNS due this month. I am more interested in the RNS in June/July….

Yeah, funny I was thinking the same thing

As you say HarChris, they didn’t promise an update and I think that they are managing updates so as to report decent gold pour levels. On that basis, and assuming this is still low grade gold from pit 2 then I was thinking it would be around 6 weeks.

So - I do think we are getting close to news now…

Dai I know you like your oil and gas drills. Are you taking a look at SNDA? Real boom or bust but the SP is SO low with drilling not far off..

*buy

Thanks ppower, my guy was relatively small and the plan was to sell (hopefully close to £5mill MCAP) and leave the rest for the drill results.

I might actually add.. just a little

Dia, ppower - have you sold out of WSBN?

My plan is to hold till they start drilling and sell some …

Underpromising and overdelivering is something a lot of CEOs could try. Sometimes I think it’s born out of optimism and bullishness in what a company is trying to build and believing in the project. Sometimes I think it’s less innocent; trying to build the SP to get a placing away.

One fact is undeniable - we are close to half way through Q2 and GRL have not needed to raise funds this year.

Why would you sell now? Finds raised for drilling a few weeks back, drilling contractor secured…

Then sell before drilling?

The next RNS we want is to state rig mobilisation to the site and anticipated start date…

I’d love to know the plan.

Mostaza ph3 drilling is being planned.

Viuda ph1 is being drilled. If the results are good do they go straight to ph2? Or do the ydrill Mostaza ph3?

What about the 3/4 other areas of interest?

I did love the reference to this being potentially a district size find..

Viuda drilling started 2 weeks ago and we are told results in 6-8 weeks. So 8-10 weeks between starting drilling and results.

Mostar Ph2 started 8 weeks ago….