Member Info for LeMajor

Indeed Archie, the scientific representation is what I took it to be. E.g. "the most accepted value of the speed of light till date is 299792458 m/s which is taken as 3×10^8 ms-¹ after rounding off." The degree of accuracy is affected by the rounding process - something a commercial application would not countenance. The other "floating point" is merely a decimal alignment, which is achieved by padding the least significant digits (the right hand side) thus 12.12 + 9.3657 becomes 12.1200 + 9.3657, the operands when added, multiplied, etc can then be trimmed, truncated or rounded to a specified requirement (in ASX case 1 decimal, rounded). The method of padding will depend on the programming language, technology and compiler plus the inventiveness of the programmer (I once programmed a computer that had no "multiply" function, so to multiply X*Y meant I had to add "X" to itself "Y-1" times). I have worked on 24, 36 and 64 bit systems although there are others. Like in all spheres of industry, the jargon needs to be defined - the word "sow" means something different to a pig ignorant arable farmer than a livestock farmer (pun intended), even though they are both in the agricultural business.
It is indeed quiet here, I am only checking in rarely at present.

Accuracy.

The number of decimals in the ASX system will be defined somewhere, else no other system (internal or external) would be able to interface with it to provide or extract data - a user may not know, a software enginer/designer/developer would.
Imagine going into Halfords and asking for a spare wheel. Guy asks"Does it need 4 studs or 5?". Customer says " Does not matter, I'm flexible on that".

No Archie, it is not the same. The "3 decimal places" (on the dollar, not the cent) is a marketing decision as to what ASX wants the public to see. Actual calculations will be done to a finer granularity or accuracy. I share your frustration of seeing a misleading percentage rise on their user interface, knowing that rounding suggests 5.495c (5.0c rounded) rising to 5.500c (5.5 rounded) has gone up by 10% is misleading - caveat emptor.
BTW, after 48 years in IT, I have never come across a commercial application that uses floating point formatting - one for the science, maths & stats boffins.

Frankly Archie, that is nonsense. The ASX public interface may be defined as 3 decimal places, but I have no doubt that the "inner workings" are probably held at 5-8 decimals. A modification of the screen layout to 4 decimals would take longer to get the change rubber stamped than to implement a change.

Good point Darkangel, I should have said that the sp had risen to 1000% of it's pre-consolidation price. As for the spread of 8%, theoretically it is 4% either side of the midpoint, but each of the MMs set their own midpoint which varies within the 8% "spread of spreads" which is why the buy/sell calculation is often skewed. Not a fan of consolidation either, and pointless since the abandonment of paper share certificates - except for the preferences of a few old codgers in the City who would not know an android from an avocado.

Especially for those who keep suggesting we consolidate, take a look at Metal Tiger. MTR did a 10:1 today and at 8am showed a 1000% rise @25p by 8:30 it was down to 900%. My guess was that MMs would have made this very illiquid between 8-8:30, but sp is now showing as down to 879%, couple that with an 8% spread and to sell will reveal a loss of 1.5p to produce a 23.5p sale. The annecdotal evidence of a typical 15% reduction in value in 24 hours, is pretty close after 2.4 hours, so the drop may be even bigger by c-o-b.

It has been an uphill climb for years, so I guess the BoD are not going to be rushed during negotiations with Valkor. Their premature announcement was probably an attempt to get an early discount, but QFI have almost made it to the first plateau, and are no about to split the rewards for a helping hand when there is only a few metres to go. July could see a deal come in under very favourable terms -2/3 weeks may see 5-8p, so worth the wait.

Thr XCD aquisition will give us more scope, I believe. At first it will be a bit like buying a Landrover in a New Year sale and then locking it in the garage until nexy winter - but I would not be surprised to see a new JV on the table in Sept. - maybe two!
Hopefully they will be on the same lines as the very successful PMO deal (the one where we tested 8 targets and PMO paid the bill).
The final analysis results are probably available now, but I suspect they will be kept under wraps until the XCD deal has been put to bed. Hopefully we and former XCD investors will get good news, although the dillution affect will hold the sp down until the next drilling programme kicks off, and the benefits become tangible.
ATBLTHs

It would be nice to think sp will do as suggested, and double. I think treble woould be more likely, and then a further climb on news of cash injections from grants and/or partners. The first deal will put us in the spotlight causing others to follow. Do not be fooled by one-sided trades (i.e. ignore the cries "it's all buys today". MMs only hold small quantities so buys & sells must balance out. By extending the spread up or down, MMs can manipulate the buy/sell flag so do not gef conned.

Que = Cue

Que for a song? HC is a ghost town. They must have come oit of lockdown and headed for thee barbie on the beach. Not expecting owt 'til beyond the XCD and looks like most feel the same. Just droppef in before going to do a bit of DIY as fishing is not an option in these hills.

Little things do matter, punctation for instance.
https://metro.co.uk/2020/06/06/drivers-hit-parking-fines-councils-grammar-blunder-sign-12813754/?ico=pushly-notifcation-small&utm_source=pushly
Nothing to do with 88e or HRZ of course, but the roadsign I generally smile at is Slow Men at work.
Still hoping for a good HRZ result, but would not be surprised if most effort is directed to the XCD prospect, which is just meters away from Umiat.

Assuming they are negotiating, giving a presentation to stir up interest is a good move. To attract a low bid/offer is certain if you have empty coffers. One of the essential strategies is to have the option to walk away, so rather than bending over, having a top up is a good idea. It is an even better idea if we get a stupendous deal having stimulated interest via a trade conference. Hope to see 4p+ by Dec.

Not sure what an RTO entails, but assume where our name and registration continues and the "other company" moves its assets into ours (maybe as a subsidiary). Our BoD then "walks", and their BoD takes over. The synergic effect will be to raise our sp, as the other company will hopefully bring cash as well as products to the table. I also think this deal may need to have a provisional announcement (4 weeks ahead?) before the completion announcement which (assuming they do not leave things until last minute) to me means this week or next for an RNS (avoiding Fridays if good news).

That's my alias. Shame to see un in the red as ASX was showing +8% last night when I turned in. I had hopef it would be the one item in my portfolio that was not red - maybe the Bank Holiday on Monday had something to do with it. If so could we have a spike on Tuesday (please,) just to restore a bit of equilibrium ( that's just 2 electrons above plutonium in the periodic table).

Sorry big fingers...
Plans & progress, in any or all of our revised project areas.
How I wish this BB allowed edits like HC.

Once the Xcd deal is signed over, we will get more news. DW is nor one to sit on his laurels. I have no doubt that talks have been unde way since the day after PMO bolted. PMO took a punt and wanted/needed the result to be certainty, but the result still holds risk. Like a tortoise, being under threat/pressure they withdrew feet, head and tail into ther core fortress, minimising exposure to risk.
88e still has the objective to prove commerciallity of the Icewine oil field, as a whole ( 1 whole = many holes!). I believe 8-10 are required to provide data, and hopefully some will provide oil too. I would think that most Xcd holders will not dump shares immediately, but wait a week or two for news on future plans, FO progress ( in any or all of our project areas

Agree Hotshot, though I'd say it made sense rather than it was obvious. Having worked on the drill location for a year or so, the location and permit was changed after PMO came on board, with a bulging wallet (though " maxed out credit card" may have been more appropriate). I think they had a right to change the spot, but they clearly got it wrong, and added a year onto our progress.

so "coal waste" is a naughty word