Member Info for Legalwolf

There is no funding if they don't get the Prospectus. And if they don't get the Prospectus, then they can't meet their liabilities and one of the creditors now has security over the mine. The company are NOT providing any re-assurance at this critical moment in time, but have chosen to communicate only by twitter. So the CEO is very much MIA at this moment in time, compared to his approach previously imo. So we can't really say whether the situation is going to be sorted or not, because they are not communicating with us. Whether we have a positive outlook or a negative outlook, a lot of it is based on pure conjecture/hope.
For me, the issuing of the Prospectus has to happen before I would even consider investing here again. And so far, it remains delayed. Some have suggested that the governance review needs to be completed first. If so, that should be completed soon. All imo and DYOR

It must be something quite serious for PJ to be stepping down with immediate effect. He has put everything into POW, including a lot of his own money. Family HAS to come first, and whichever family member is afflicted with this "critical" health issue, we should all wish them a speedy return to good health (God willing) and PJ the very best in helping them. Maybe he might return in the future once the health matter is dealt with?

Gosh, what happened to the share price in the afternoon. I came back to my screen to see 7p and had to double check. I'm a tad annoyed as I was planning on adding on this pullback, but thought what's the hurry! But looks like this retest of 7p has arrived a lot earlier than I anticipated. But its only a matter of time, you would think, before we clear the sellers at this gap, and then settle into the 7s for the next push up. Whilst we don't know when Rig news will land, we know when ISA allowances are coming in, and so that's a near term event that will have a positive impact here of itself, regardless of the Rig situation at that point.
Fridays are always interesting in these kinds of situations, so let's see what tomorrow brings. GLA

Kutzz - if nothing else, you can say that in return for your £150k investment into ORR, you got an indirect mention in their annual report a few years later. Great value for money that!

Not having a dig at anyone, just don't buy any of it myself. But okay, let me try to engage on the basis that this is a genuine project and put those doubts to one side.
So far, I think we would all agree that it is still early stage for the GH project, and investors are yet to see any upside from it at all. In fact, share price has gone the other way. But let me ask you what you think will be the inflection point for the GH project, and which will cause the market to wake up from its current ambivalence towards ORCP and take notice. And when do you think ORCP will arrive at that point? Surely, you all have an investment horizon/timescale in mind, especially as this is AIM listed and will dilute each year?

All of the steps that ORCP have taken are very easily replicated by any major. ORCP has a very small team and relies on placings each year to finance itself. Its mcap is 6m. A lot of the work on this GH project has been outsourced to external bodies. ORCP hasn't invented the technology, nor does it have any exclusive rights over the technology. It doesn't actually own anything to do with GH. Nor does ORCP have any exclusivity over GH so far as ****stan is concerned. It simply has the necessary permission to develop the project in the Sindh, and bring it to fruition.
Pretty much anyone with connections and funding can acquire the same type of LOI from the authorities in ****stan and acquire a land package. The Chinese have built a lot of the infrastructure in the country, as have the Middle Eastern countries. They have their own direct access to the powers that be in ****stan. They have large R&D budgets and can hire in house and external specialists to design the project for them, just like ORCP have been doing. They might even buy the work that ORCP have done from them. But fundamentally, why are they going to pay £1.5 billion capex to ORCP in return for nothing really?

Volume bought is showing as 600k, against only 5k sold. So that's pretty solid consolidation at this level so far, and suggests that, as with yesterday, shares at sub 6.5p are being taken up quietly. If we continue to hold above 6.2p, then once shares have been absorbed at this price range, we should be on for another tick up and maybe a retest of 7s. But let's see

It's welcome that they have acknowledged the problem, but I would take issue with the following line: "whilst I too dislike dilution unfortunately, equity raises are often part of the funding requirement of a junior company."
Yes they are, we all realise that, but it completely misses the point, which is that ORR have FAILED to generate growth from these necessary placings, leaving existing shareholders underwater, and not offering any incentive for new shareholders to buy, resulting in a death by dilution spiral. The problem then becomes that by the time the situation turns around, the sheer weight of all those billions of shares in issue then makes it more difficult for the share price to bounce back (unless the company consolidates or buys back). Even the likes of GGP are finding this where large buying doesn't move the needle as much as it once did, because of the extent of its dilution over the years.
It's then best to just avoid these companies and go for ones with less shares in issue, or newer IPOs, when the markets bounce back? All imo and DYOR

I'm just wondering what the value proposition here is for any major or syndicate that might fund the £1.5 billion capex? Usually, the minnow will own a prospective licence area, or have made a discovery already, that the major will earn into, in return for their investment. They can't bypass the minnow, because the minnow has legal rights over the valuable resource. So that's the basic deal right there.
But with this GH project, what is it that ORCP exclusively have or own, which they will offer in return for the capex? I don't see where they would fit into the equation for any major/syndicate that might want to invest £1.5 billion into a GH plant, because I can't see what they are brining to the table/party exactly, which such majors or investors would need and can only get by dealing with ORCP/Oracle Energy? But I must confess that I have not really followed the specifics of this GH project, so I might be missing the value proposition/pitch that ORCP are offering to them here. All imo and DYOR

Not that this is going to make any difference, but haven't all views here, positive and negative, been repeatedly aired by now. In fact, done to death. It's like Groundhog Day on here.
Can we not simply all be agreed that its the results in the ground now at CresWick that will do the talking here, and dictate the share price for the next 3 months at least. Even those of us with belief in ECR/AH/CresWick etc must surely recognise that the share price isn't going to survive (more) poor results. And for the naysayers who don't believe in CresWick, why not come back here when the results are out, and say 'I (repeatedly) told you so!' and take the plaudits, instead of this constant repetition of doom and gloom?

Thanks both. So it looks like this article is covered by the recent RNS, rather than amounting to anything new as such. Interesting that CMET/Damsila have been working closely with this leading Sri Lanka businessman all along.

So just waiting on the good ole GSMB now then to lift the suspension.

I was rather expecting a RNS after that news was reported in local media. I read with interest that:
"Local investment company, Keynes Investments (Pvt) Ltd, was recently brought in to hold 60% of Damsila.
Keynes is principally held by Dinal Peiris, who is also the Chairman of Lanka Aluminium Industries PLC Group and several other well-known companies in Sri Lanka."
That definitely is worthy of a RNS you would have thought? And what does this 60% stake that Dinal P now has in the subsidiary mean for CMET?

It was a rise on no news and went through a gap as well, so maybe a correction now is no surprise really. If we now spend some time consolidating in the 6s (as we did with the 5s), that is no bad thing. It will set up up for another test of the 7s at some stage soon you would think?
Of course, the big de-risking news here, for this pre-drilling stage, is still to land, which is the Rig contract. There will undoubtedly be a LOT of money that will ONLY commit itself when that news lands, especially given the last 12 months we have had here. And I am sure that even those of us already positioned here, might be keeping some of our available funds back for when that news lands. Even though there will be a premium to pay for buying when it does land, for many its a price worth paying for taking out the risk of drilling being delayed again.
I've always thought that mid April to Mid May was the most likely time for Rig confirmation, especially if an agreement involving Noble is the preferred option. LB did say she would keep shareholders updated, so an interim update before then is not out of the cards. But then LB also said she would update us when there was something "concrete" and I am not sure they will get into a "concrete" position in March? All imo and DYOR

Encouraging price action this so far. We filled the gap yesterday, and so far it is acting as support. The share price is catching its breath, before the next leg up. 7p on the Ask still and being offered 6.85 to sell. Consolidate around here for a bit and then push above 7.3p next. This is really healthy and bullish share price action (so far). All imo

AS01 - POW's share price had already bottomed prior to the drilling at Molopo. Molopo created the optimism and the share price doubled. It has fallen back because a lot of people have assumed the outcome isn't good or whatever other reason.
IMO, ECR is where POW was pre Molopo, namely, that its share price has bottomed and it has started to drill a key project again. I am hoping that this will generate some optimism which will translate into stronger buying, which will lead to an increase in its the share price. It might not happen of course, but then you pay your money and take your chances.
Of course POW might also be bottoming (for now), and if it does, then we have Tati results to look forward to and that might create a move up for POW?

Hard to see how or why the share price will breakout right now given the uncertainties and ongoing delay with the Prospectus. A breakdown is as likely, and it all depends on the next RNS or media interview, not tweets. It will need positive and official news, to convince enough of the market that a recovery situation/play is on here.
It could happen, but the RNS needs to confirm that. All imo

AS01 - it's perfectly normal for two different companies to arrive at potential growth points at different stages. I would say that ECR is where POW was prior to Molopo drilling, in that it has commenced drilling one of its flagship projects (perhaps the flagship project). If its results are not good, then just like if Molopo results turn out to be disappointing, it will be a massive setback for ECR and will be reflected in ECR's share price. As ECR are just starting their campaign, then of course the optimism right now is strong. I am excited to see what Tati might deliver for POW.
Both companies will end up raising at lower levels if they don't generate news that drives the share price. I can't help that situation with POW as my average is 2.3p, but I won't be allowing the same thing to happen to my ECR holding and will bail out at a loss if the first results at CresWick disappoint and then reappraise.
So no difference in my approach at all, just different situations at each company. All imo

Zan_TM - understood if that is the reason. But with everything going on at GCAT right now, and all the various important questions, it would be good to hear from RM soon I think. The longer it goes without any meaningful comms, the more these questions linger. In particular, RM said February for the Prospectus, and it would be good to hear what the issue is there or what the current expected timescale is for it.

It all depends on the intention of Mindea. If they decide to sell their shares, then we of course have another large seller to contend with. I really hope Molopo results are good. POW has spent a phenomenal amount on Molopo already, especially in the last 12 months, with the acquisition from Kalahari Key, and last summer's placing to pay for exploration and now this added payment in shares for the drilling. All imo

A near 10% rise and closing at the high, on decent volume. It's one of the strongest days we've had in months. I was being offered 6.9p to sell at the bell. And to think we STILL have ISA money to come in early April (which caused a big move up in both of the previous 2 years here), and then the Rig contract later in April/May, then its looking very, very, good here.
The way things are going, there's every chance we could be trading above 8.5p BEFORE we get the Rig contract, because this is now trending and you would expect it to continue its upward trajectory as FOMO on cheaper shares is created at each price level. And then Rig contract news will trigger its own big move up for sure, as it will de-risk this for those waiting for Rig confirmation and those holding back some funds until then. So 12p on Rig contract is very much on.
To think it will then be another 3-4 months from that point until 'spud', and you can see what's potentially opening up here for sure for the share price between now and the summer, and it should have us all excited and licking our lips.
It just needs LB to get one of these Rig options over the line and if she does, we are very much going to replicate what happened in 2021 for sure imo, simply because of the amount of time we have ahead of us. All imo and DYOR