Member Info for Legalwolf

Textbook example of skin in the game that. For all his own shenanigans (farm out to placing), you wouldn't begrudge him success, as its a rare example of putting your money where your mouth is. Start contrast to He1's BOD though - a mere £37k between them in this recent placing. He's a geophysicist. LB's a geologist. Both are well placed to assess prospects of success. He1 are also meant to have the better targets (see KeithOz previous postings). All imo

Valid points Zan_TM. I would hope that RM gives an update of some sorts if that's the case. I would imagine he will need to say something as part of the GM?

What a drag it has been though with GCAT and this financing. I'm not even invested here and have found it weary. I just don't see how shareholders here would be expected to stomach another failure and another year of false hope. You do feel like there won't be another chapter is this one doesn't end well. All imo and dyor

The volume just isn't there in the face of a £580k fund raise at 0.17p, but keep ramping.

Deep - I wouldn't worry about it. What gets posted on here is read by members of the other BB anyway and vice versa. According to them, we are meant to be some kind of "splinter group", even though we have our differences on here as well!😂

Zan_TM - I do feel you're being very generous with the Xmas timescale. Financing that was supposed to be in the final stages of documentation in the summer, should NOT then take another 6 months to get over the line? I would say if there is no positive and credible update by end of October, then it's hard to believe and maintain an "all is well" narrative on the financing beyond that point. All imo

Watcher - I'm really confused. You actually started your negativity a week ago when the price was below 2p. Were you warning your fellow citizens back then as a holder, or did you buy in afterwards?

I'm not a holder here (as I've made clear), but it's very clear that share price is dependent on what happens with the financing. If that doesn't transpire, then there will inevitably be new all time lows in the share price, as there will be a sell off. You also have to factor in how existing and dilutive financing deals have been structured. They will bring their own selling overhang regardless.

I hate to say it, as it will no doubt come across as de-ramping, but if the financing falls through and this only goes down to 0.15p, that will actually be a tremendous result, given the current low is 0.2p.

So its all binary on the financing, and how much risk you want to take, which is a common equation when it comes to such stocks. Buy at these levels, the financing comes off, and you stand to gain a lot of reward. Equally, if it doesn't, then the falls from even these lower levels can still be brutal in terms of the impact on your portfolio.

Feels like a roll of the dice kind of situation to me. All imo and dyor

With all the exciting sounding 'next steps', why is Naheed not out there banging the drum right now? Sticking to the safe confines of the occasional interview with friendly Zak Mir isn't going to cut the mustard or instil any confidence. It's things like this that make me wonder about how credible it all is. I would be expecting the CEO of a company that is post DFS and on the verge of all this exciting newsflow, to be almost harassing the market about it in excitement. Moreover, you would expect to hear from the other BOD, about their own workstreams, the people in finance for example.

As well as the inherent improbability of David taking on Goliath, it's signs of corporate body language like this, why I remain rather unconvinced by it all. It just doesn't have the feel of being the real deal to me. So come on ORCP, let's be hearing more and start banging the drum louder, and drum up some sentiment. All imo and dyor

Thanks Blubay - I missed the earlier post.

Do they need these long lead items to test the Rig on site, or have they already done that? In fact, do we know what these long lead items actually are?

Watcher - you sound rather bitter for someone who has made money, biting the hand that has fed you. Chillax as they say and enjoy the winnings.

Louis - that's not a bad point actually. Would it be overly cynical of me for thinking that newsflow is being delayed to allow the churning to be completed? Let's not beat around the bush, we know only too well from recent history that He1 has form for managing its newsflow.

I must say that on a separate point, the BOD have not banged the drum as much this time round, compared to when DM was in charge. Should they not be doing more media interviews and generating the interest and lifting the sentiment. It feels a bit subdued and quiet from them. All imo

At the end of the day, on AIM, you have to be prepared to 'win some' and 'lose some', and probably reconcile that it will be more of the latter than the former. I took a hit on CresWick, but came back in for Hurricane. I've learned to try not to be too bitter, and just assess each opportunity afresh.

However, I have not received any of these cheap shares, and therefore I have to factor in the following risk:

1) If these placing shares are being forward sold, then that is a risk to any buys that I might make at these levels.

2) If these placing shares are to be admitted, then its the same.

In the absence of any concrete plans for what ECR intends to do, I think I will sit out this uncertainty and risk, until the dust all settles and I can make a clearer assessment. Everything is a trade off in this game.

But each to their own and GLA

Is it a big deal even IF there is a delay? What difference will it make if spud rolls over into early October. In any case, wouldn't it be better to be drilling at the same time as Noble and have that alignment? That way any positive newsflow from either drilling might have 'positive' read across to the other company's sentiment as well. All imo and dyor

Aligator - isn't Itumbula plan B? Although in saying that, we have to recognise that Tai is considered the higher probability target of the two. If neither of these targets leads to a discovery, the longer term plan would probably be Eyasi/Balangida, but that's a long way off and a long road back. So all or nothing on these next two drills me thinks.

TS - I filtered Notrex a few months ago, so have no idea of what agenda led nonsense he has continued to post. Clearly, he's posting appears to be souring like milk that continues to go off.

Dan - there's no way all of these shares have been forward sold. But if they have, then does it not suggest that we've all been had like kippers here, because the selling has gone on for months? It would suggest that we have been Tangoed. You can't have it both ways? All imo and dyor

Watcher - who cares. This is a fresh situation and a fresh trade/investment scenario. I've not previously touched WSBN for the reasons you have highlighted. I've listened to people like you trying to warn us all about the BOD. But who has been the fool here? It's been ME for missing out on the big moves that this stock OFTEN makes.

So this time round, I have decided NOT to listen to the negativity and guess what, I'm making money already. That is the ONLY thing that matters at the end of the day, not your bitterness or bitter past experiences.

Don't suffer regret bias. Sometimes on AIM, it's the stocks that you have lost money on that can actually make you money. Timing and all that. So join in and try making some money! All imo and dyor

"Legal, According to some all those shares have/will be forward sold well before the GM."

TS - which reliable sources are you relying on here exactly? Can you direct us to them so that we can similarly re-assured. I sure hope it's not posters on a BB, especially the ones who have arrived of late?

Let's see what these two projects yield in terms of results, but getting in at lower prices is always the right thing to do, whether you are trading the newsflow or investing into the projects. Currently trading in a gap by the looks of it. Just need to set a higher support level on this opening news, and then take it from there. Hopefully newsflow will kick us on. GLA

Just let the dust settle and we will see where the share price settles. With £580k worth of 0.175p shares to actually land post the vote, there is a clear risk of having your legs chopped off here when these so called new investors start selling en masse? So i'd wait to see what happens in December, and its not like ECR are going to be drilling before then anyway and creating any value? All imo and dyor