Member Info for Legalwolf

As feared the outcome is a disappointment. Didn’t we have a JV partner who we bought out? Can’t see another one happening any time soon on those results and it’s probably POW’s way of palatably announcing that it won’t be expending it’s own resources or returning to Molopo any time soon. All imo

I have been wondering about this and posted about it a while back. KAV did some work on Molopo last year and will know the project well, and whether/what similarities/read across it might/might not have to its own conductors at the KSZ. Does the outcome at Molopo weigh in any way on KAV and explain its seeming reluctance to return there itself? Interesting that POW are now seeking a JV partner for continued exploration at Molopo after buying out the previous partner. All imo

ID78 - those might be the priorities for GCAT, but I am sure getting their money back is a priority for the creditors. How much rope and patience are they going to give to GCAT?

I don't have a large holding in POW, so its never really uppermost in my thinking tbh. I should do something with the holding though, as I've not bought or sold any POW shares for circa 18 months now. Either average down and try to trade out, or just buy cheaper shares and hold for the next bull market.

Thanks TL - understood.

Predator - only GCAT will know when the Prospectus will be issued and what the delay is. RM did say February initially, and then in March, he said it would be ready "soon". Maybe they are still trying to work out the details that will need to go into the Prospectus. I don't know if there is a way of checking these things with the FCA. I think it does have a Register that can be searched online.
What you don't want is to find out about the Prospectus months later, and in the meantime be wondering about large selling etc. We've had this before with GCAT.

Skittish - any idea when these major shareholders came on board here? Trying to establish whether they might have taken part in the fundraise, or have been accumulating on the open market.

That's why I have always maintained that I will wait until the Prospectus is out, to decide whether or not to reinvest here. There are some important reasons why, notwithstanding whatever progress is made on gold production. The Prospectus will:
1) Confirm that GCAT has managed to restructure its liabilities with current creditors and honour those restructured payments.
2) Confirm how much dilution GCAT and its shareholders have had to take on, in order to achieve 1 above. As has been highlighted it could be MASSIVE.
3) Indicate how much more dilution might be in the planning.
4) Reveal how many large sellers GCAT will have taken on - my assumption here is that the recipients of the shares issued through the Prospectus will sell those shares to retail.
5) Reveal at what price shares have been issued to creditors.
These are all vital pieces of information, which for me, will determine whether and when to invest in GCAT. At one end of the extreme, GCAT could just end up being a basket case that is saddled with so many shares in issue and large sellers, with retail investors as its victims, or it could go on to clear all of these issues (through restructuring debts and ramping up gold production) and still deliver timely share price growth. For me, the Prospectus will be key to making my assessment as to likely direction of travel here and outcome. All imo and DYOR

AG1989 - I agree with your views below where you say: "I think before we get on her back about not delivering this required information after the DFS, we should actually take a minute and see, and give her chance to inform the market on such matters. Like previously discussed, I can't imagine any Solid agreements from off takers or financial backers to take place prior to the DFS, so once results are published and Annual production targets and CAPEX costs are more accurate, then I'd expect movement."
I agree that AFTER the DFS is published, then the market can and should expect movement on offtake and financing, and should give Naheed opportunity and reasonable time to provide updates in these key areas. Hopefully, she will do just that.

Surely this is now ready to be deployed. Have ECR said when and where?

My apologies - on the plus side, it does look like offtake/financing has progressed in that they are now talking about a single party there, rather than multiple parties. And good to know they have UK Govt involved as well. GLA

GCAT/RM - what is happening with the Prospectus?

As I feared all along, GSMB are not seemingly playing fair here and engaging with CMET over the suspension, meaning that this is very likely going to take costly and time consuming legal action. Not good at all I’m afraid. All imo

Hopefully, this might signal that the Rig contract will be confirmed by 8 May latest?

This is AIM, and its a market that is full of disappointments, so being sceptical and cynical has a place, in the AIM investor's toolkit imo. In fact, most AIM projects should be approached from a position of caution imo. And it's not like Naheed/ORCP have a successful track record to date, such that any scepticism is uncalled for. Just look at the share price performance under her reign?
The GH project has been going for some two years now, so the main stages should be clear. And Naheed should have an outline plan by now for raising the capex and will surely have done some scoping around offtake partners etc. Therefore, once the DFS is out, I do believe that shareholders here should be more 'demanding'. After all, if she doesn't create value inflection points, or isn't able to tell you when those milestones will be achieved, then its your holdings that will be undercut/diluted when the next raise occurs. That's not a cycle you want to be in for too long, as a 'genuine' investor imo.

Yes, it is highly likely that the price will spike on these announcements - probably even the largest momentum/volume spikes we will have seen here for some time (as I think there's a lot of pent up demand waiting for this damn Rig contract to be signed!). But then I think most of us would expect to have to pay a premium, if we have waited for de-risking steps, such as farmout and/or Rig contract.
In more general terms, I think He1 trades at sub 10p in advance of having any confirmed drilling plans. But once drilling is confirmed, then I can't see it remaining at sub 10p for too much longer. So even paying a spike price on Rig RNS day, you should be fine imo.

Naheed has seemingly taken on not one, but TWO huge projects here, in terms of their likely capex requirements. Just the capex for the GH plant alone is the highest that I have ever come across for an AIM listed junior - and then some. (But that's not to say that there haven't been other even larger projects taken on by an AIM listed junior, which have been successful. I don't know?)
Even though she hasn't published a timeline showing the key milestones for the projects, I would imagine that once the DFS is out, there won't be anywhere left to hide then, when it comes to matters such as offtake and finance. To avoid the market thinking its all pie in the sky dreaming, Naheed will need to start outlining exactly how far ORCP have got in these areas. There's not going to be much runway left for her to keep selling the dream, without evidencing the actual progress being made in these areas behind the scenes, and creating a real sense that capex is on its way.
My concern/suspicion is that post DFS, the can will be kicked down the road somehow, by the announcement of some other steps (that will probably then take another X months or so to complete), and hence more runway will be created to keep the dream going. You see, when you don't have a published timeline setting out the stages you need to take project through, you can pretty much announce whatever twists and turns you want at each stage.
But let's see what Naheed/ORCP have in store for their very patient (and long suffering?) shareholders, once the DFS is out. All imo

What is the estimated or likely capex for the Solar project?

Seeing as I'm looking to add on farmout and/or Rig RNS, I don't actually mind the share price remaining at these lower levels until then.

Institutions are usually the last to enter, as they tend to be the most cautious, and will want to see a project de-risked as much as possible until they commit. Here, is it realistic to expect institutions to buy an AIM listed penny stock that has no revenue streams, and before it has sorted out its capex for either its Solar or its GH projects?