Member Info for Legalwolf

Are there any other such companies that have large holdings in POW?

Tamer - as I understand it, the main way in which MM make their money is from the difference in the spread and through the volumes being traded. Therefore, they will take the price to where the most volume is. At the moment, that seems to be lower. Or were you thinking something completely different?

TS - at this very moment in time, I would say that its more about the 'technical' than the 'fundamental'. The fundamentals can only take over when ECR puts them out there with its newsflow. Until then, the chart/price action is doing its thing and so the 'technical' has taken over the share price movement. All imo

Lol - these placing shares haven't even been admitted for trading yet, so let's see what happens when they are. They last raised in August 2022, and that was for a much higher amount. Let's see how far they get with this £500k before they come asking for more, probably serving up some more juicy MOUs before then. I mean, just the BOD salaries alone are circa £250k. So yes, this placing will be forgotten, because the next one in Q3 will probably be at 0.12p!
But each to their own, and what some see as "no brainer", others see as "no brain".
All imo and DYOR

Tamer - I'm no expert, but I would think they are in a closed period right now, as they are in the midst of drilling and sorting out other price sensitive news flow. Otherwise, why would they not try to support the share price at these levels?

He's not going to get drawn into that on a public forum, or at all. Might trigger some behind the scenes discussions though.
Recently, ORR's BOD opted for a salary reduction/sacrifice, and so maybe something like that would be in order here. I mean, what exactly has CB's mate done since joining?

I agree, a trader's share at best, but that goes for most of these lifestyle operations on AIM.
I am curious to know what expenses are racked up here by the BOD, when they do all this international travel, entertaining and functions/meetings, that goes with these international projects? Are they flying economy, staying 3* and eating at McDonald's, to keep costs down, or is it Business class, 5* hotels (you can even get 7* in the middle east) and Michelin* dining all the way? Are they considering salary reduction or salary sacrifice to help manage the finances, like some other companies in similar situations? Just what do they all do and contribute against what it costs to pay them, from shareholder money from these placings?
All imo and DYOR.

It would be good if BM can do some Q&A about the situation in Mali, and whether it will have any impact on the mine development. For example, will they be wanting the licence and permitting in place before they actually start spending these newly raised funds on the mine construction. Would seem a bit risky to do it without knowing whether/what support you are going to get from this regime. All imo

Okay understood Tamer. I will wait for that interview then to see what he has to say. We already know they are planning to drill at Creswick, but don't know when exactly. So I hope he gives an actual timescale and details for CresWick, as I think that's what the market needs, but usually that's RNS not an interview.

I do think that there is the potential for positive newsflow, but its just the time its going to take for ECR to get it out. The wait is always more painful to endure when the share price is falling. I think they have their hands tied to an extent, because they are waiting on permitting at CresWick, and not just completion of drilling at Blue Moon. The Blue Moon results won't be ready for a few months (are the still drilling the last hole?), so I think the CresWick drilling RNS is probably the news that is going to change circs here. But how long?

Isn't 0.17p an all time low in the share price? Admittedly my chart only goes back to 2015, but that's long enough.
So yes, plenty to be cheerful about the progress being made by this company under this BOD.

Waiting for the results might not be a bad thing, if there is selling to clear and sentiment is not strong. PJ has said before about releasing positive newsflow into these market conditions, and they make little difference. More generally, I think most have accepted that we need to wait for stronger sector sentiment before the real gains here. It's just not knowing how long that wait will continue to be. All imo

It's a downward spiral of dilution because none of the projects are close to generating any revenue or funding for the company, hence it is needing cash for working capital, and will do so again very shortly. In recent times, each placing here has been carried out at a lower price than the previous one, due to lack of sustained share price moving progress and tough market conditions. So as an investor, you risk having your investment undercut significantly by another placing round the corner.
The fact that they have raised only £500k is more alarming than re-assuring, because it means less time to grow the share price before the next placing, which increases the chances of the next placing again being at lower levels. And how realistic is it to expect sustained share price growth to be delivered here until the next inevitable placing, especially when shareholders know more cash will likely be needed before the year is out. So again, a downward spiral of death by dilution, until or unless a proper rocket of an RNS finally lands here and brings in huge and sustained buying pressure. Something that hasn't happened in some time though.
As for BOD being aligned because they have large shareholdings, that has to be seen against how much they have been paid in salary and bonuses by the company over the years, and how much they have actually paid for their shares on open market, relative to those salaries and bonuses. Let's have those figures out there so we can see how much alignment and commitment there has really been.
But, just my opinion and take on this company and respect the fact that others firmly disagree. DYOR

Good news at last. It's huge dilution coming up (potentially 2x plus the current mcap) but necessary to get the project off the ground. (It looks to me like Lionhead are potentially reducing their participation in the Term Sheet, but existing shareholders have increased theirs and more will be offered to existing shareholders and others?).
The one thing that I would say is that its preferable for Cora to raise more if it will allow it to be "fully funded" rather than have to do further raises in the future? As for the mining licence, by the time they need it, its likely the authorities will have resumed granting them. More important is to ensure that they get necessary co-operation and permissions from the authorities for the mine development.
I expect there will be an interview with BM soon.

It's the strategy of the company that needs to be sorted out here, and then the comms around that. They need to give us something to look forward to and restore sentiment and confidence in existing projects. It shouldn't be too difficult with £3.5 million in the bank, which puts them in a much stronger position that most juniors out there. They have the projects and now just need to set out their plans for 2023, and be aggressive in the field, rather than have everything stalled by a JV search, or go searching for entirely new projects whilst existing projects are neglected. I don't see how a change at the top will help the situation, and will likely cause more pressure on the share price. They just need to sort out the strategy, and a new CEO will just add further delay to this.
The caveat to this is if they are expecting JV announcement(s) imminently. They will surely have had talks with interested parties by now? If so, I can well understand if those talks need to conclude first, before the company can finalise its exploration plans. But then why not come out and say so if that's the case? All imo

This is just my opinion, but I am not expecting the Molopo results to be share price moving. And for that reason, I think we will get them released when there is other better news to release them into. Most of us know how the AIM game is played.
Could be wrong of course (and have been plenty of times) but that's my expectation.

Lol - tried warning you over a year ago when the share price was in the 30s. I said back then it would be a diet of worthless MOUs, LOIs, and meetings here. The company runs itself on this spin, ramping and then placings. Look at the amount of dilution the company has racked up already. Looking ahead, I can't see any share price moving events in the near term, which means another placing in less than 12 months time, probably whipping you into a frenzy just beforehand with another MOU, or exciting development of some sort. By the way, they all say placings were oversubscribed and usually that's complete bs.
You only have yourselves to blame if you lose a lot of money here as there have been plenty of warnings from ex lth here about the MO of this company. It's a trade at best this, but definitely not an investment. That's probably true of most AIM shares to be fair though. All imo and DYOR

When are we expecting the results from this KCB drilling?

No angle at all - just want to know wth has been going on here and how much of what we have been told by GCAT has been factual and truthful. GPLAT exited this share when GCAT was telling us it was at a key inflection point and about to re-rate, with a potential new and very large discovery at VR, expansion at Kili, £13.5 million of funding, and better than expected results at TZ, etc, etc. GPLAT had insider knowledge. So plenty of basis there to be suspicious, or at least wonder about this. But equally, I accept that their selling and the bs to the market might have been unrelated events (ahem).
Anyway, who cares what I say or post, or how often. We all know the situation here isn't great (understatement), the damage has been done, and its now a case of waiting to see whether and what kind of GCAT emerges, and whether it is still investable. All imo and dyor

How do we know GCAT wasn't the brainchild of GPLAT, in order to allow them to exit (profitably) from a doomed project?