Member Info for JulianM

Thanks Qualia

Thanks from me as well.As a matter of interest where are the disclosure rules to which you refer set out ?

V,You could well be right in which case why not have faith that their long suffering shareholders will support them and raise money by a rights issue coupled with warrants as Vast did.Messy I agree, particularly when warrants keep being exercised,assuming the sp rises of course, but rather that than Riverfort, Crede or any other similar "loan shark"

They have been offloading steadily since at least September 2017 and as at 15.9.2017 held 14.11% of the share capital.Reductions were notified regularly until November when they held 9.91% but nothing until yesterday as far as I can see,which is in breach of their notification obligations.Obviously did not want to declare their hand and perhaps yesterdays update was only given under pressure from the Company to declare their position.

Are we that desperate for cash that notwithstanding the" imminent "arrival of the Tranche 2 money AP will when armed with the 850m authority immediately arrange a placement? Some posters evidently think so but is it not possible that AP will first see whether an Institutional investor will come on board with a view to using the share authority for that purpose,if his search is successful.In the interview he emphasised that he will be focusing on this search after his visits to Romania and Zimbabwe? Perhaps we will learn more at the AGM.

Showing complete ignorance on the subject I wonder whether a rig is winterised from date of manufacture or whether it can be winterised as necessary.Also what is the difference between a rig that is winterised and one that is not and also a semi winterised rig which I see was the type in use in 2010 when the weather defeated it and drilling had to stop.Anyone able (and willing) to educate me?

Perroverde .I contacted JP Jenkins a few weeks ago, hoping to buy some warrants but was told that Vast withdrew instructions from them months ago. I was not given the reason but in any event the facility is no longer available.

Hi Mex and S44DYK

Yes,down a bit today.I declare an interest as well but it amounts to less than my interest in AMC,which no doubt will prove to be the wrong strategy!

Seem to remember someone singing the virtues of RGM a few weeks ago as an alternative to AMCand TDT advising strongly against.Good advice TDT. RGM appear to be in freefall.

See The Money Sponge analysis referred to on the LSE discussion board (which incidentally is not populated by some of the idiots posting on this board )HZM are apparently the only AIM nickel play at the advanced stage of issuing a BFS within a few weeks and it will be interesting to see how the sp responds.Currently just starting to move upwards.Good institutional support as well which contrasts with AMC.Will HZM secure funding or be taken out by one of the majors?
Well worth keeping an eye on. I believe that RL likes them.

I suppose that one positive is that the issue of the PFS is not going to be postponed until 2019 which is what many feared after the 19th September RNS,I also presume that the media week was intended to follow the release of the PFS which was delayed (again)hence no media week in September.
As to Riverfort yes it does appear that despite the fact that they are not genuine investors and their involvement has damaged the sp and shareholders confidence RY is still prepared to continue with them.Is he happy with their tactics I wonder or does he even care?.If he is unhappy could he say to them that any further drawdown must be conditional on Riverfort changing their tactics and becoming a holder rather than a seller,at least for a certain period or until the sp reaches a certain level.If by some remote chance this is being mooted this could explain Riverforts lack of selling over the last week.
As I have posted previously I would prefer a rights issue whereby sufficient is raised to pay off Riverfort and give us whatever working capital we require.However I fully accept that this will not happen.Far too messy compared with drawing down further finds from Riverfort (at our expense)

It would appear that Riverfort have not been selling over the last few days.Maybe that is because they have nothing to sell until their latest batch of shares is admitted for dealing which according to the RNS is on or about today.So will the selling recommence today or tomorrow or perhaps later this week ? Only if it does not will I begin to wonder whether they have changed their approach

Excellent analysis Proselenes.Thanks for your input.

The fact that the drilling results have not been followed by the usual RY podcast after good results suggests to me that
other news is imminent, with the Media Event to follow

Look good for next week or so.Highs of 20.Excellent weather for moving a drilling rig.

As I see it namely:
1 Nothing found to justify testing
2 A find and a testing rig to be brought in

If the latter(good news of course) this begs the questions where will the rig come from, how long will the testing take to commence,how long will the testing take to complete and are any further permits required ?Anyone like to comment?

TDT I assume your assessment is that before the latest conversion they held no shares which is fine with me,
The fact that they continue to convert to convert means that they must be happy with their profit margins because I note from the annual report that they do have the right to simply accrue interest and demand payment of the outstanding loan and interest 12 months after the loan was made.This is the circumstance also mentioned in the report where the company will have to raise further funds
It is also stated in the report that as at the date of publication (27th June) the company "is in discussion with the investor to amend the terms to allow drawdown" of the further funds but if these talks fail that the company "is satisfied that alternate funds could be secured"The fact that over 2 months have gone by suggests that terms with the investor have not been agreed.Perhaps they have not been pursued.Does RY accept that once again he has landed us with another company which is not a true investor and that he will be deeply unpopular if he borrows further funds from them?I hope so but I do remember that at the notorious Crede meeting nearly two years ago he was asked whether it concerned him that if the Crede deal was allowed to continue the sp could fall to 2p or less.His
response was along the lines that this was not ideal but he could live with it.

Thanks CS If you are correct and a contract has been signed presumably there is potential claim for breach of contract but I suppose it is more likely that the contract was not finalised .

As a matter of interest does anyone know what "late stage changes in the contractors proposed equipment and contracting entity "is supposed to mean?

In an attempt to educate myself have been watching this Shell film on the net which by the look of the flared trousers etc being worn by the office staff could have been made about 40 + years ago. Nevertheless for anyone as ignorant as I am about the drilling process well it is well worth a watch. However I am wondering to what extent the drilling process has been refined since then.Anyone with upto date knowledge who has seen the film like to comment?For example if drilling through hard materials does the drilling bit still have a "life" of only up to 12 hours.?