Member Info for Legalwolf

RJ - with respect, that's total BS. Re-read the RNS, it wasn't just about Sofori, but there was still nonsense in there about the Marriot Rig being an option, after they had already agreed the purchase of the Predator. If I recall correctly, there might also have been an interview at the time which also gave no clue about the Predator purchase. All imo

Skittish - I'm unable to find them on the website - only the AGM Notice? Do you mind posting a link, or alternatively, sharing what the Resolutions cover?

As for LB playing with a straight bat, I agree with Sinequanon and for the same reasons. Remember, she also said no plans to raise in the short term, and only when "opportune", and then hit the market with a raise! Plus it's probably the broker's dictating as much as the BOD. All imo and dyor

We know "fully funded" means zilch on AIM, and especially with He1. Before the last raise, they said the same thing. They went further and said they had no plans to raise in the short term. In fact, such was the language they used to rule out a raise, that when I suspected a raise was coming up, I took absolute pelters on here for suggesting a raise was coming despite what they had said to the contrary. There were literally 100s of posts, from dozens of posters saying "no raise as they have said fully funded" and all that. IMO, there is a history with He1 of 'what they say is not always what they do'. So until they don't issue the Resolutions, you can't take anything for granted here regarding the funding situation and intentions.

DJM makes a good point though, the AGM might have been brought forward for other and more positive reasons (JV, proposals, etc), but of course, until we don't see those Resolutions, a capital raise can't be ruled out, and arguably is the more likely reason. I am speculating of course, but before anyone jumps on that, the question itself invited speculation about the share price performance, and speculate is what we often do on BB. It is part of discussion, as are opinions, interpretations and factual discussion. This particular speculation might turn out to be incorrect. All imo and dyor

Why isn't it able to break 6p? As well as the results, I suspect one of the other reasons could be that by bringing forward the AGM, they have raised the prospect of a capital raise coming up. It's hard for a share price to rise in such circs. All imo and dyor

Not much to be gained ramping or de-ramping a share that is in suspension? Use this period to have honest and frank debate and discussion. By the time the suspension is lifted, no one is going to scroll down to see what rampy or negative discussion there might have been in mid November.

The volume has been high, but notwithstanding this, the share price hasn't closed significantly higher. Clearly, there's a LOT of selling going on at the moment. Makes me wonder whether those large and delayed trades are actually buys or sells, whether we are seeing stock being accumulated for a move up, or flushed out for a move down?

I agree that the situation with the Rig means the next RNS needs to be as positive as it can be at this stage! Its contents need to make up for the fact that the Rig needs a time consuming repair, that Itumbula isn't happening now, and for any likely and looming cash raise, before they resume drilling operations next year.

Therefore, it likely needs the word "discovery" in it, but what other qualitative and quantitative results does it need beyond this?

Anyone got any idea how long the downhole sampling (using this Baker Hughes Reservoir Characterisation Instrument would be likely to take)? Presumably, once they have successfully obtained these samples, the results can be obtained straightaway using their analysis equipment at the wellsite?

If these grey (late reported) large trades are buys, then when you put them alongside the regular and large blue buy trades, the price should be moving up, but it isn't and is holding within the range. That might suggest that rather than getting in, these are sells getting out before the news?

Is this the same guy who gave you the previous heads up on 17 October?

To the LTH - is WSBN a leaky ship when it comes to results? (yes I know most AIM companies can be)

I'd say it needs a close above the 200MA (at 6.6ish) to signal a change of trend? If it does that before results, that would be something (and possibly suggestive of a leak). All imo and dyor

Are you sure that these late reported trades are (each and all) buys, and not sells being flushed through, with the price being moved to fill these large orders? It's just that if they are (each and all) buys, then the price action (dropping bid and ask) isn't making as much sense?

Many thanks all - so basically, shareholders won't need to sweat on the lab results, IF the forthcoming onsite results are positive.

Apologies if this has already been covered (it probably has but several threads ago now), but what will the lab testing reveal, which the onsite testing can't or won't? Is it simply verification or is it also additional data/testing?

I only ask because the RNS makes it sound as if they can obtain all the key testing data through Baker Hughes onsite equipment?

Do we have a breakdown of the expansion costs, because it would be useful to see where/how far this $1.5 million will take them through the expansion work, and whether it will lead to increased production of itself. The RNS provides a long list:

- Minopex Phase 2 Exploration and Grade Control Drilling;

- Heap Leach Plant - Completion of Pad 4 construction;

- Crushing and Screening Plant;

- Milling Plant;

- Thickener Plant;

- CIL Plant; and

- Gold Room.

Really? All that? And All of the money is going on expansion work?

I agree with RJ and Wyn - primarily, it all depends on these tests. It's a shame these won't include the Basement target, but the shallower targets are also capable of delivering the goods.

However, in terms of share price, that will also depend on the timing and size of any fund raise. If it's a sizeable raise, then it will be done at lower levels again and any gains in the interim from positive results will likely be lost. I'm afraid that's just how it is in these markets.

If on the other hand, they don't need to raise a significant amount, or raise at all, then the brakes can come off - IF they announce positive results.

Interesting also that they haven't mentioned the lab at all now? Presumably they will still be sending samples to the lab for independent analysis and verification?

Yes, let's have it Joe80 - no doubt it's about the Rig?

Lol Sinequanon - I spotted that as well. You do have the check the 'small print' when it comes to He1.

Wyn - Joe80 bought back in yesterday, so the sun is shining again 😉

"There is a big issue that I won't mention."

Well you sort of have mentioned it now Joe80, so go on do spill the beans?