Member Info for Legalwolf

Started very strongly again. Now into the 17s. Where will we close this week?

That’s a decent chunk taken by them.

Well OMI are definitely not being clear or consistent imho on whether the deal has been agreed and is waiting approval (as per previous update) or whether there are still issues to resolve (as per this update). It’s becoming as clear as mud and impossible to have any confidence of near term resolution and avoiding a fund raise for salaries.

How can drilling contractors etc be ready to drill when no one knows when drilling can commence. Are they just all sitting idle and on standby for months on end?

Now saying there are issues to resolve when previously it was all done and waiting for regulatory approval. Shifting sands here and rather opaque. All imho

I hope not. I’m not done accumulating yet.

No timeline other than it will be August. I would guess late August myself.

But also got funds to move out of HE1, HEX and possibly GDR. They surely can’t all go into GEX :-)

I’m contemplating it. GEX is already on the move.

If they do, then more good news for KAV, as it shows the prospectivity of the region. I like the rather measured way that KAV appear to be going about this, saying they have confirmed a copper mineralising system runs through their ground, and are now vectoring in on it. Alongside this, we have what looks like positive news to come out of Zim, during a strong POG. You really do get the feeling that it will be a transformational 12 months coming up at KAV, on both fronts.

Seen some folk talking about 10p on a major discovery announcement. That's several bags from these levels and would be fantastic, but happy for this to continue rising incrementally with each positive RNS. GLA

KR - I guess it depends on when you think the shares you are in will move, compared to those that you aren't in. Sometimes switching funds across to the movers and then back into the dormant ones can work out. Especially if there's placing overhang in the dormant ones. That gives you time to do the switch.

The share was taken down on lower volume late afternoon, but that seems to be the pattern with these MM. Now that today is over, we can hopefully look forward to less volatile and healthier price action. The BB might also go the same way.

Spread is really tight and some very large trades going in. I agree that a RNS next week is preferable, to potentially give us a Friday FOMO in between. GLA

Production cannot commence until a deal with PC is agreed. Therefore, this needs a calming RNS from MB about how the meetings have gone and timescale for agreeing the deal. Hopefully it will all tie up so that there isn't a delay to production once the workover is complete.

Some very large trades going in right now. Anticipation/timing or leaky ship at it again?

Thanks IG - good to read a sensible response that actually engages with the question rather than making spurious comments. It's perfectly logical and reasonable to ask whether it is possible for companies to sell directly to offtakers and what are the factors which make this possible or impossible. It might well be GEX who are unrealistic in saying they will do this.

Chesh - are you saying that's the reason why GEX can sell straight from the wellhead and HE1 can't? Otherwise, not sure what the relevance of your post is to my query.

GEX is not a cross ramp - I am building a holding there but have a much larger holding here. I've added here again this morning as I'm expecting a positive RNS next week. Hopefully!

GEX are talking about selling their gas straight from the wellhead to off takers. It means giving a discounted price, but avoids all the opex and capex involved in building a plant and infrastructure. Curious why the others are not considering this option - probably because the option isn't as viable in Tanzania as it is in Australia?

Having said that, HE1's capex of £50 million is very modest.

Might be worth moving some funds from elsewhere into GEX?

Great post - my sentiments exactly. Today is/was always going to be volatile and it will start to calm down by end of day. Lots of buyers will take the shares at these prices and we will get a decent close. Find a new base tomorrow and then look for a strong close on Friday. Should finish the week above 5p, ready for another push next week.

Look at how many trades have come in today. Shows the massive interest in GDR.