Member Info for JamYesterday

That's my feeling too, Legalwolf. Another modest placing to ensure there are adequate funds to complete the DFS on schedule without waiting on every move by the DFC. BRES does have a couple of institutional holders who will probably come to tne trough one more time, presumably if warrants are attached to sweeten it up. Then, get in there boyee!

I wonder what tipped GRH over the top to sell down? Was it just one vacuous rns too many, or a continuing lack of flow testing, or something else?

Sandy, how about that johnny cum lately Aussie TR1 outfit selling the rest of their holding, for starters.

Just GRH and wraith left.

That's a really useful piece of news about Pensana and the AFC, there. Thanks for the heads up, RogerBirds.

It demonstrates two things:

First, that the AFC can offer a full funding proposition to the potential developer, $268mn no less, and just some 6 months AFTER the DFC had come in for a "Technical Assistance Grant" to fund feasibility studies (with equal matching of funds by Pensana!).

Second, that the funding was done at the subsidiary level, through a mixture of convertible bonds, loans and some direct equity, with the assistance of the Angola Sovereign Wealth Fund.

It wouldn't come as a surprise to me if the Ugandan government was working behind the scenes with MR and the AFC, to complete a similar full financing deal at OC.

BRES needs that upgraded reserve estimate and the DFS, to move forwards.

Patience required but will be well rewarded.

The army of armchair geology experts here have got this totally wrong for ages, including you, Dickie. Wake up and smell the coffee.

I haven't felt this relaxed with my underwater position of size, for me, ever.

The sp doesn't lie.

Block 2a deal completed. Yesss. This management does what it says on the tin, on time and with clarity.

Onwards and upwards.

It's a tough call right now.

Is the DFC still on board? Is it up to date with cash payments to BRES? What does the AFC need in order to fund OC into initial production? Why hasn't a global graphite consumer signed up yet for an offshore deal of substance?

I expect next up will be good drilling results, and these are vital as the key to unlocking an offtake deal. So LTHs had better just strap themselves in and be patient. It should come good but it's not a slam dunk, yet.

The old, you have to keep in mind that Keith from Oz is a fully paid up member of the PRD ra-ra groupies. As such, it is his sworn duty to change his script to fit the ever shifting narrative from PG.

So the next question is, how much is PG prepared to give up at MOU-5 to entice a well capitalised larger entity to do all the 3D seismic and more that is required to progress the prospect. A decent sized cash payment plus, say, a 10% carried interest? We must all lower our sights on the investment opportunity here, but my sense is that there is still an opportunity to make a good return from this level.

What an utter disaster area this is. And who was calling for 50p+ on re-admission?

Why is that "a great result" when they are refinancing a 7.75% coupon rate that matures next year? I make it that Seplat has to find an extra $9mn a year in interest payments.

Yes but the whole DFC arrangement was tied up during the Biden era. Oh happy days!!!!

"In a way, now having the AFC on board will help Bres to navigate the geopolitics. The AFC will be willing to work with whomever. But don't the DFC have first dibs?"

Surely, the geopolitical leanings of AFC and of the Ugandan government will influence heavily which way Orom-Cross is developed. Like Legal Wolf, I just can't see a hybrid DFC funded/Chinese SPG tech combo working out. So does anyone with close knowledge of the present Uganda government have a view on a preferred geopolitical partner for OC?

This will come into sharp focus if a Chinese entity makes the bidding for the scaled up offtake arrangement that BRES needs pretty soon. Yes, the DFC may have first right of refusal to fund OC into production, but surely not with a Chinese big brother. So then, the stance of the AFC comes into sharp focus. Will they step in where DFC refuses?

All a bit unclear right now, hence the sp drift.

Remember, what goes up on AIM one day, comes all the way back down the next, or the one after that.....

Smart move to bury bad news, Clink#1, with potentially good news, a third producing well near Darwin#1. If the net revenue comes in as management are stating, then the market will respond positively through the rest of this year.

Haven't you been arguing for the upside in this P.O.S. for years now, NtM? It gets wearing after the first few flunks on the way to new all time lows.

Glad to know I'm not the only member of the Get AK Out crew.

How many millions has he taken from SAVE in salary and bonuses since his ill-fated acquisition attempts?