Member Info for Legalwolf

I think most expected this to happen and its good to get it out of the way. Are the BOD in a closed period because the deal is awaiting TSX approval? If they are not, then it's a rather pitiful performance from them in not taking part in this expected raise. Discount is not bad, or at least could have been a lot worse, but not liking the warrants.

All said and done, should be some upside from these levels.

How much will rain stop play, when play is only a couple of overs to be bowled i.e. 800m of drilling?

PP - yes, I was in Cora a few years back and did really well out of it, twice. A great set of projects, but in one of the worst possible jurisdictions right now in Russian controlled Mali. Had it not been for this, it would have been a gold producer by now. If the Malian authorities start to grant it licences again, then a really good recovery play - very much on par with OMI when it comes to delivering gold grades that get the AIM punters going!

KR - we all know that feeling of wanting/needing a win. It’s probably a dangerous mindset as you end up revenge trading. MATD will probably go on a run now!

I guess the questions to ask yourself is what are you waiting for and whether your original thesis for getting into this trade is still valid. Good luck with whatever you decide to do.

If OMI don't need to raise in order to drill, then it's bonkers not to just come out and say so. Maybe the management really are so incompetent that they don't appreciate the merits of this approach. With the deal having been signed (albeit not concluded), the placing concern is now the number one reason (and indeed only real reason) why folk are very hesitant to buy.

By removing this hurdle (if there is no intention/need to raise pre drilling), the share price would likely start to gain momentum, or at least have a better chance of doing so than at present, and this would enable the almost inevitable future raise to be carried out at much higher pricing, which is what management should be aiming for now that the project is back under control by minimising future dilution.

Same goes for any other cash options that they might be exploring, including JV partner. If that is happening, or they have cash in the MMA accounts, they could tell the market this with the usual caveat of 'no guarantee of a deal'.

By saying nowt, it just points strongly towards a placing imho as the most likely outcome. Unless they really are blundering incompetents. All imo and dyor

"As part of the work to be done for the Kilimapesa expansion project, the Company has engaged Minopex (a DRA Global owned company) to carry out a review of the expansion project. Minopex will provide an updated economic assessment and comprehensive technical report for the project and then follow through to execute the expansion on behalf of the Company. The Company also plan to engage Minopex to manage the operation of the processing plant and laboratory."

Admittedly, I've lost track a long time ago, but I thought the expansion was all about funding, whereas it now requires a review? Is this part of the expected plan, or more can kicking, which given the company's finances and mine operations closed, it really can't afford?

I've taken HE1 off my watchlist. Can't even be bothered to trade it as it's just an untrustworthy basket case of dilution!

PFG - are you still holding, or have you taken some profits on some or all of your holding?

Ultimately folks, do you think this statement and the situation the company is likely to relist under is going to cause excitement or a mass sell off?

KR - I had this situation with Char recently. There was "no rise on anticipation" and then of course when the drilling results came in and the share price took a big hit.

With MATD, at the moment there is similarly "no rise on anticipation", in fact share price has fallen, and so until this doesn't change, might as well wait for the next RNS is my thinking!

Fair enough Investor and hopefully that's true. I was just thinking whether the Governor might make contact with MRPRAM and say they are interfering with his remit/authority by allowing the temporary facilities to go ahead. I guess it's just the dodgy jurisdiction that makes you wonder about such things...

MATD appears to be one of those companies where the market will only act on confirmatory news, not interim RNS promising the confirmation is to come?

At the end of the day, share price/market reaction is all that matters, whether or not we as individuals like or dislike the RNS. The reaction has not been great, and I guess that's down to the fact that MG authorities are creating difficulties at every step of the way it seems. The market therefore wants to wait for production to happen, rather than take it as face value.

Because of this, there are uncertainties. Are we okay to assume that temporary facilities can't be stopped by Governor and that they can support the same level of production as the facilities which require a permit? And what will be the terms of the PC deal, so that we get an idea of what revenue will be generated and whether it will put prevent near term cash raises. Then the biggest near term risk or opportunities will be the drill results. Are Heron 2 results expected next month as well? All imo and dyor

You always worry that Governor might throw a spanner in the works, and this temporary solution might be taken as sidestepping the authority and remit of his office. Unless it really is to do with his workload!

What does everyone think? RNS we have been waiting for or best to wait until the production RNS lands?

Jungmana - think you are overblowing the cash position. Didn't Char say they would be unable to meet their obligations and were considering contingencies just before they raised the £6 million?

I agree that the key announcement is whether ENOG are still in the game. Can't see how Char can make any significant decisions right now until they know this, including testing at Loukos and managing its cash position.

Share price can only really go on a "sustained" rise in response to ENOG, and if they confirm they are walking away, then it will take another hit. Maybe some scalping/day trading to be done in the interim.

After billions of shares in issue, even the thickest cow in the herd starts to wake up and smell the poo!

O&G drills are high risk. The drilling we are doing is minimal risk as we are simply expanding the existing resource.

The bold - what size loss are you still sitting on now, so that we can all assess your motivations?

In fairness, whatever their faults and mistakes have been, they did have a lot riding on Anchois, especially AP, and were very much aligned with their shareholders. They will no doubt be feeling as down as most are.

AP's stake was one of the largest you will find of any AIM BOD?