Member Info for Legalwolf

Yes, hard to put a valuation and fair asking price without seeing what the DFS comes up with.

They can't drill without raising funds, nor contract the Rig and Crew, or order long lead items. Plus they can't raise below 5p. So I would say as soon as possible if they want to get a move on. But a lot have speculated whether they will need the drilling permit first to get such a large raise away. Maybe that's what they are waiting on.

Management have options at 0.5p. As an exit strategy, makes we wonder whether they will settle for far less than what we would expect/like?

"I suspect that the company think it's worthwhile doing this at this stage. When they have £1.5m available from 4.5p warrants with a JORC and a DFS coming up, i can only think something bigger was pressing and they just had to deal with this now. It does seem they are already thinking about the exit strategy."

Probably viewed as a potential risk, which it would be prudent to remove. Whilst Bres asserts it has a good relationship with the Govt, you don't want a smallish tax liability affecting your security of tenure, this being Africa.

Smart money selling what it can above 5p, whilst the opportunity is still there. GEX needs to hurry with this fundraise.

No probs - take a look at the below:

https://www.lse.co.uk/rns/OMI/block-listing-six-monthly-return-d6xclwi6fmgjsdf.html

https://www.lse.co.uk/rns/OMI/block-listing-application-2jbax1k74g9bh6w.html

15,203,116 based on the last block listing update in July. Need an updated breakdown to see what's left at each strike price.

Taking the warrants would be the smartest way for any insti to take up a new position.

Yes Doc - even the insti's will have to fight for supply. Those who have gotten in early have the advantage, meaning the next lot will have to buy higher. I also don't think we are going to be in this trading range for much longer, as price is now tightening towards the upper end of it, but let's see.

And the great thing about these large buys, is that they are going to LTH/sticky hands. A lot of the free float is going to be tightly held, which again, will result in a faster and more powerful move up. In fact, everything here is pointing not to just a move up, but a re-rate!

I'm thinking the same as Hepseal. At some point, the next wave will come and lift all boats. Once this catches a bid, it can really get going. You just need to wait for that moment. With BTC doing well, it might not be a long wait after all.

This is looking poised once more to attempt breakout. We have retested this level a few times now and huge buys are landing at these prices. Which means that it's only a matter of short time before all supply at these levels is absorbed, and the price will have to move higher. Now the consolidation that we are about to breakout out from has lasted 6 months. Which should give rise to what I think will be our largest move up yet.

Will tomorrow be the breakout day? Matters not really, as it's only a matter of short time with all these large buys landing. Exciting times indeed!

Signs that the sector might be ready for another bounce with BTC making new highs. If there are to be no more low ball placings, as was said in the interview, and with the last one being oversubscribed at 6p, this could catch a bounce at these levels. But let's see.

Could be the initial impact of the Red Cloud conference?

Err... I think we established that you didn't even go the AGM did we not?

That surely can't be correct though? Rost is expected to generate a gross of $100k/month. How is that going to be sufficient to fund working capital AND operational expenses, which will include drilling of new wells as part of expansion?

😴😴😴

Totally agree Kaeren - but there are no answers to these red flag questions. No permit, no comms, no access to site, no long lead items ordered, no Rig contractors, and no cash left, about sums it up right now.

Chart is looking reminiscent of when it fell to 4p. They need to get this raise away asap - if they can, but probably can't without the permit.

Can anyone help with what the current financial position is for Mendell and how it proposes to fund its forward plans? The income from Rost (as summarised in the recent SmallCap interview) isn't going to cover further drilling?

I like this share, but the cash position is a ?

"PompeyM what do you think of this application being on hold still, according to the latest DPE application process"

That's easy, he sees nothing wrong. He will likely deny that the application is on hold. Everything about GEX is fantastic and so what if the drilling permit is 8 months behind the original schedule. There's also plenty of cash in the bank, despite what those pesky auditors might have calculated in the AFR.

Anyone disagreeing with this should stick to flipping burgers.

This is basically what Pompous has been reduced to. Where's Silver when he needs him?

You don't have anything serious to offer. This share has destroyed your credibility, as you have buried your head in the sands for several months now, and the share price sits at 5p. Now you have nothing left to say, because pretty much everything you have predicted for GEX has simply not materialised.

You should do a Silver now and disappear.