Member Info for Legalwolf

Thanks HRY - so the first term does come to an end in 2024. Usually, there will be licence conditions set for each term, which ORR need to meet. We need to know what they are and whether they have been met already, or need this project level finance to do the necessary work to meet them, and then renew.

Go on then Watcher - share the educational material with us (or should that be entertainment material)?

No, I'm glad you have made some money after taking significant losses on GCAT. I was more commenting on your claim that you are looking out for "fellow citizens" when you're actually posting in accordance with your trading decisions.

But whatever really, good luck with all your trading.

Am I right in thinking that the CLP licences expire in 2024 as well? Does anyone know what the licence conditions are and whether renewal will be a mere formality? I'm sure the project level investors would need to know this as well, as part of their own due diligence. I've seen other JVs get delayed pending licence renewals.

ORR have often boasted about the CLP being prime acreage in Cameroon and first mover advantage. Well, they have hardly moved much on it and it is actually too big for them. I also wonder how impressed the Cameroon authorities are with them right now, and whether they will be happy to continue giving prime acreage to a company that doesn't actually have the means to do much with it?

Thanks Jstar - understood. A 10x event is nearing then, just not the one that was expected!

Bozi - they have made Zim sound like a very high probability opportunity. With PB to account to as the new paymasters, they can't really afford to put a foot wrong, especially after the failure at B1. So the management here will be as aligned and as motivated as you can ever expect, because their jobs now depend on it. It's little wonder BT is moving to Zim to oversee the whole operation. High stakes for all concerned now. KCB is the highest probability project in the Botswana portfolio as well. Overall, it feels like a scenario and situation to back, and definitely a defining 12 months coming up for sure.

If or when it lands, I will change my tune. Until then, and if I am really boring you, please hit that filter option. Mutually beneficial arrangement.

Lol Tamer - he's probably got more blocks than stocks here?

Probably. The shares can only be flipped at low prices, because at that level you have the high demand to meet the high supply. If they try to flip at higher or lower levels, then it becomes fraught with risk, because it scares off retail. Could even be algos involved, but definitely price being controlled?

The thing that is slightly troubling is there's been a LOT more volume traded than the recent placing. Twice as much, so the placing churn should have been cleared by now. Therefore, there must be other shares being flushed through as well?

I think the more pertinent question is how do they raise going forward.

Jstar - you mentioned that they can't raise without consolidating, because the share price is below 0.1p. Are there ways around this - there seem to be ways round pretty much everything these days. I'm just curious has to how Naheed can and will raise funds. It's probably coming to that stage as well, but difficult to say as the financials are overdue here as well? All imo

Dan1605 - there was a post from D Burton which suggests otherwise. If you want to disagree with it, then be specific as to which bits of his clarification is wrong.

Also, we know this BB has been trolled for months. If we could do a word search for "troll" or "trolling" there would probably be over 50 hits on this bb for this year.

What is actually also really making me suspicious, is just how hard some on here are trying. The newbies in particular. It's so obvious and is unconvincing. All imo and dyor

"Let's hope we aren't looking like clowns after the drill."

Some haven't waited until after the drill to be fair.

The naysayers are kidding no one, just look at the shares being accumulated under the hood here.

The only warning I got today, and which speaks volumes, was not getting filled below 0.6p today. Even with breaking up the order. Will try again next week, but think the ship offering large stock in the 0.5s has sailed or is about to. All imo and GLA

Computer - that echoes what I was thinking, but much better expressed by you. If we knew the milestones, that might also help with this discussion and we would see how the DFC have approached it, and what obligations, hence costs, they have effectively put on Bres and at what stage. Whatever the position here, we have to keep some perspective here. 50% of the DFC costs are a drop in the ocean when you look at the size of the prize.

The market reaction is difficult to comprehend though. Especially given the highest volume in 18 months. But the market reaction shouldn't be judged on today only, but the coming days and weeks. Hopefully the excitement will build as the realisation dawns on what is seemingly opening up and being lined up here? All imo and dyor

RJ - I was having a mild joke and talking about YOU rather than your money. Investors will always flock to the markets, just like losing gamblers will always return to the casino/bookies. But I get the point of view. Some investors will make money though whilst others will lose. We know that has happened here already.

Hopefully you will get rewards for your risk and patience here. GLA

Feel free to discuss what you like all. I'm not stopping anyone from doing so. I personally think it's a complete waste of time to focus any hope, energy or positivity on VR. Without financing, it exists only as Virtual Reality. The source of any excitement that one might feel about VR comes from the same source that has created excitement about the main project and not delivered, and thereby killed that excitement, or made it seem like its built on sand. So I don't know how you can separate the two.

It's like having some dubious builders who didn't build the first house in the way they promised they would, or on timescale, and gave you a bit of a run around in the process, not telling you things that they ought to have, not complying with planning regs, all sorts of issues and questions arising. Do you get excited about their brochure for a potentially even bigger and better house, when the first one lies unfinished, behind schedule, without any roof on, lots of other things missing, and awaiting the true costs of the whole build? I don't and don't want to know!

For me, it's ONLY and ALL about the financing right now. Nothing else can or should create any excitement because everything that is conceivably exciting about GCAT is itself wholly and fully contingent on the financing. Nothing falls outside it or isn't built on sand right now without it. So what's the point?

But I respect that others disagree, and if you wish to discuss and get excited by VR, then please knock yourselves out. Who the hell am I to stop you. All imo and dyor

The match funding is a point that keeps coming up. I think it might have been the way MR explained it all at first. Moreover, if the DFC are going to give companies 50% of the costs, they would presumably want to be satisfied that the company has the means to fund the remaining 50%. They would surely do this by the nature of the grant agreement they enter. Match funding would obviously be one way to achieve the desired outcome. Setting milestones would be another.

Are they not basically two sides of the same coin?

Put differently, does Bres have the cash to do the work or make the progress that is set out in these milestones? If not, then Shorts point still stands.

Something for Bres to clarify, as this question/topic keeps coming up, and the correct answer/understanding is important for all holders/the market. All imo

I don't think the pump is going to work guys. There aren't enough stupid retail who are going to get ahead of placing shares being unlocked and loaded for selling action in two week's time?

But do keep trying, it's not a total failure so far. All imo

"If this doesn't move from here after a positive result, I'll be withdrawing completely from the markets, but I do think we are being held back right now."

RJ - this market is very unpredictable and challenging, more so than normal. Just look at Bres.

(And if you withdraw from the markets completely, that will be the biggest loss of all.)

Wyn - some good points. I guess much depends on what the definition is of "good news", which was basically the root question in my post. Is it "spud" or is it "Helium shows" - or both? I would have thought that "spud" is a given and pretty much priced in. Who here is really doubting that they won't actually spud and do so very soon? Other than Aligator who has appeared as I type this, but even he's not in any serious doubt if the bet is 50p.

The other thing to be clear about is what do we mean by a "rise" here? If mere spud is a trigger for a rise, will it be a SUSTAINED rise, or a pump and dump spike (see Bres today as an example of how this market is behaving on even the best of RNS right now) which then falls back? Yes I know, a spike is still a potential trade though!

I think "good news" in the sense of creating a sustained rise will only come if there are Helium shows. These will be seen as the scent/pre-cursors (again rightly or wrongly) to a discovery.

The chart is being rather coy and non committal about its intentions right now. Will it signal them into close? All imo and dyor

I've added on the drop. Will start to build a longer term position. Bres is an exciting proposition, massive resource, low mcap, NPV likely to double, and now nestled between support from the US and Chinese. More of an investment share than a trading share?