Member Info for Legalwolf

I would imagine that any funder will want the prospectus all sorted out as part of their due diligence on GCAT?

I don't think PJ is out of his depth. Far from it, he's one of the most experienced CEOs on AIM. As others have pointed out, lots of juniors are struggling and down at the moment. Therefore, the ultimate time to properly judge POW, and the model that PJ has created, will be when sector sentiment returns. And I would expect POW to perform much better when it does. In the meantime, in the absence of a discovery, or any other share price moving event, POW will just perform as per the rest of its sector, which at the moment is not very well. How long will it take until sector sentiment returns? Nobody knows that, not even PJ himself, but this bearish market has been going on for some time now already. It is a very difficult period for all juniors, one where most of them will find market conditions tough to operate in and will need to dilute at lower levels, adding significantly to the shares in issue. At least POW will have the option to sell shares in spinouts to raise capital (a bit like Red Rock and Thor selling their shares in POW if you like). So if market conditions remain tough, PJ will have some difficult decisions to make. All imo

Yes, 3pm start and you can register online for it. Will be interesting to see price action during and immediately following it.

"The Company has updated the operational outlook using information which is CURRENT as at TODAY's date, based on ONGOING negotiations with rig providers. This outlook indicates a planned drilling programme at Rukwa commencing in Q3 of this year." If you add this to the presentation itself, and the comments in the previous RNS, they have also told us that they have a number of options, from which they have selected a "preferred" option and "another" option. They have the funding in place. They also have a new CEO, SPECIFICALLY because the previous CEO made a mess of the Rig process. Therefore, I really don't think they are going to mess this up, from the position that they are in?

Let's see what happens, but I will be very surprised if the share price remains at these levels for very long. Just take a look at the chart! The share price has spent very little time at below 5.5p each time it has got there (and usually on bad news). This pattern (of accumulation) goes back 3 years to the IPO! In fact, only once in the last year, has the share price remained below 5.5p for more than a day or so, but that was because of the placing, which introduced 200million new shares at that level. Interestingly, so far, today's price action is showing a similar pattern.
LB's last presentation was very polished. Therefore, if she manages to deliver a similar performance at the AGM, and the overall messaging at the AGM is well received, then I would expect the share price to resume trading in the previous range above 5.5p as the base. From there, the share price will be trading in anticipation of positive newsflow into the Q3 drilling.
So I don't see sub 6p lasting very long if we get a positive AGM and end up in the above scenario. All imo

This afternoon, I am expecting them to leave us feeling very optimistic about the Rig options that they have and the prospects of drilling in Q3. Just look at the language they have chosen to use. They have told us the Rig market is "dynamic", that they have "several" options, have a "preferred" option and "another" back up. So they are very much setting our expectations positively here. This is in contrast to last year, where they spoke about how "tough" the Rig market was. LB was excellent during the last presentation. Hopefully, she will deliver an equally excellent AGM presentation. If she does, we can expect strong sentiment to emerge from the AGM. All imo

They have removed the CEO, so its bad timing to refer to them as lifestyle or not serious about drilling in 2023. They have even been specific about which quarter, which must be based on existing Rig negotiations. I wonder if the Q3 timescale is to align with the sharing option, and whether Q2 might still be possible if they go it alone?

Anything sub 5.4p have been scooped up relatively quickly each time they have become available on market order.

Scooping what I can at lower levels. Did a dummy sell and forgot to reset it to buy and proceeded to accidentally sell some as well :-) I've done that twice recently, very clumsy.

"As previously announced, further non-core asset disposals are planned, and we will update the markets in due course as appropriate." Is this a reference to Danglay or another one of the properties? Anyway, its really good that they are actively raising cash in this way, and not simply taking the easy option all the time.
This extra cash might help with getting that second Rig operational as well?

Great news to have the extra cash in the bank to spend on drilling (but took a small loss on the property by the looks of it?) AH clearing up the mess as we should never have spent that much on property purchases in the first place!

Really pleased to read that they have “several” Rig operators from which they have chosen a “preferred” operator and have “another” option which involves sharing a Rig. I am expecting more details from LB at the AGM but does sound encouraging on the Rig front? The shared option must be with Noble?

Rxdav - since when have I put one any façade about caring about anything and anybody. I've made it clear all along that I am here for the CresWick drilling and to make money from that campaign (hopefully). Nothing more, nothing less. This is an investment bb after all, so that's a very odd post.
And also, its a bit rich for someone who is viewed, almost universally, on here as the resident de-ramper (who happen to be the worst characters on bb when it comes to morality and character, the lowest of the low in fact) and yet to be dishing it out to others on morality and ethics. Almost borderline personality disorder that!

I do wonder whether one of the few and hidden plus points that might have come out of the current situation with the Rig(marole), and not to be underestimated in terms of its potential long term significance to the share price, is that the time being taken has probably (likely even?) given us an extended period to flush out placing shares at these lower levels?
If this is correct and flushing has been happening, then it will mean that there are less of these placing shares to clear from hereon and more of them in stickier hands when Rig news lands? There's also a new ISA allowance coming in April which will precede the drilling. All being well, I am sure I am not the only thinking of deploying allowances into He1 (amongst others). Therefore, all this has me thinking that the share price rise that we will see from a Q2/Q3 drill campaign with 'Replacement Rig', could well end up being a much stronger move than the one we might have had from a Q1 drilling campaign with Exhalo Rig?
Of course, this might just be wishful thinking/rose tinted view on my part, but I do think there is some underlying logic to it as well. All imo

No, I'm still holding these at a 2.32 average. I have not bought or sold any POW shares for some time though now. I did come close to averaging down during the Molopo excitement though!

Let me put it into perspective. AIM is a casino and full of the kind of characters you might encounter in one. LOTS of AIM companies are lifestyle operations. I can honestly say that 75% of the AIM companies that I have been in and around recently, have ended up with bb of those companies lamenting their BODs, in a similar way to how some of are doing on here now about ECRs.
Yes, what goes on can put you off, and get you very angry, more so when your (financial and emotional) investment into those companies doesn't come off. But the quality, calibre and antics of the BOD are one of the reasons these are penny stocks in the first place, and one of the prices you pay, or shenanigans you have to endure, for the potential rewards on offer on AIM.
Recently, the BOD in a junior explorer that I was invested in, did something arguably FAR worse than anything being said on here about ECR. But would I invest in that junior again? YES, absolutely if I thought it could make me money. Otherwise, I shouldn't be entering the AIM casino in the first place, if I don't like the characters that tend to sit on their BOD. It's not a game of ethics or morality. We are swimming with the sharks here, when it comes to BOD and BB, and not meditating with the monks.
So when it comes to ECR, I ask myself simply one question? If the CresWick results are good, will I make money here even though Tang is still the Chair? YES is my answer/belief. And that's ALL that matters to me, and everything else is a complete and irrelevant side show. All imo

None of us can say for sure what the outcome will be at Molopo. But we do know it might be some months before the outcome is ready to be released to the market. In the meantime, the share price is heading down, and so it is relevant to start asking ourselves what do we have coming up here in the very near term, which could generate strong buying interest. I am not sure Tati drilling results are going to land in the near term, and I am not sure we have even started drilling there yet. So we're probably looking at May 2023 at the earliest for actual drilling results from Tati?

All we need to worry about right now is hitting some decent holes at CresWick from this next campaign. Without a successful drilling campaign, the talk of JV or going alone becomes rather academic and irrelevant imo. We are in danger of looking too far ahead here.

The big buys are still coming in then. Hopefully, the share price is taking a pause before the next leg up. RNS should land next week re finish at Blue Moon and CresWick mobilisation?

Roger65 - I agree with your outlook, and was thinking in very similar terms yesterday. However, on the PJ comments, I have a slightly different view. I don't take issue with PJ ramping Molopo pre-drilling, because its sort of expected of him to create excitement and positivity around our projects. Nor can he be held responsible for the outcome, as that's completely out of his hands. But where I do think his reputation might suffer is if the eventual outcome is confirmed to be negative AND people start to think it was delayed/slowed down because of that. All imo