Member Info for LeMajor

The AGM is often a bland statutory meeting. Financials were out some time ago, plans are dependent on funds - so little scope to discuss until FO deal is published. A few resolutions and a few short updates from the BOD.
Can't say anything about the FO except maybe when the target is for an announcement (e.g. mid-Q2, early Q3) - something vague. Possibly some "intentions" with HRZ or Yukon, or Winx2, but again depending on funding. I hope the "apres-meeting" gets a few hints, but will be guarded.
Of course there could be something announced before the AGM, but the unstirred sp suggests not.
Only 4 days next week.

We've only drilled 2 holes that failed to provide enough juice for a flow test - the average is 1 in 4 with modern seismics, and the last one was using old seismic analysis from old data (not our call).
SO, only one drill that has been from our own analysis and design has failed to produce a flow test (though we now have a pretty good idea why,) and should do better next time. The bottom line is that we are an exploration company, and a few wrong turns on the journey is to be expected. I'm disappointed that we had a fail this early - prefer they were evenly dispersed over our drilling plan after some early successes, but that's life.
If DW has secured the funding and participation of a cash-rich partner, he should be able to accelerate that plan (hope to see more 3 holes within 12 months).
Unfortunately, the place those holes are drilled may be at someone else's behest - we can but wait. First will come the announcement, later the plan and 6+ months later, the action. Nothing is instant, although there are other deals and results due this year which will fill the voids, and hopefully boost the sp (though my hopes of double digits by Christmas is fading).
ATB.

D45, reminds me of 2 guys running away from a bear "do you think we can outrun him?" says one "I just need to outrun you" says the other.

As for what day it is, just remember DW is 8 hours ahead or you ! I know who my money is on.

Had the deal been concluded, I think we'd have had the RNS by today, and then a follow up with revised presentation showing the forward plan for the next 18 months, along with the Quarterly. As it did not happen, I suspect we'll get a short bulletin on FO status, and maybe some positive vibe on the HRZ analysis.
We will get a quarterly report in about 2 weeks in any case - so there will not be a long wait before the silence is broken.
Like when buying a house the contracts will be drawn up (probably already done) and will then sit on the lawyers desk until the day they are signed. The announcement date will be agreed with (and probably dictated by) our new partner. DW may suggest a date, but if they have an overriding reason to delay it, then that's what it will be!

I will look-in on ASX later as if there is no intermediate update, the AGM on Monday will be a lively affair.

Aberdeenman (Graham?) and Brombarb were both at the inaugural "London meeting" so quite a few on this list met them both (especially as Abman did the introductions from the stage at the start). As far as I know that was the only gathering Abman attended, but Brombarb has been to them all.
Abman moved on to CTAG and then RLH - not sure if his investment company still exists, but his profile or presence on Lse is much lower than it was (or has a new Id).

Unlikely we would get taken over without knowing....
A substantial shareholder is defined under the Corporations Act to be someone who owns 5% or more of the voting shares in a company. ... Most ASX companies seem to provide the list of substantial shareholders near the top 20 list in the annual report so that you can also see the beneficial owners.2 Mar 2012
HTH

I tend to agree that a revised presentation is not far away. We may not get it before the AGM as it will depend on the FO being concluded so that joint plans can be included. I think any RNS this week will contain very brief info on the FO status and maybe the HRZ.

I doubt there will ever be a complete sell-off. DW had a purpose in setting up subsidiaries. It makes more sense to raise cash by selling one branch to fund another - or to rnter a jv deal to exploit some leases and sell them off as they are proved up. There is a strategy here, but it will only be revealed in a phased manor possibly over several years.

Not long to wait now. If it's going to happen before the AGM it is hours or days away.

One characteristic of Bed & Isa technique is that the sell and buy prices can be so similar that they can look like 2 sells or 2 buys in close proximity (if not adjacent).

Neil (paraphrasing) one second you say "you don't have inside info, so you can't say that"
Then you say "Boys get real big Dave is running out of time to deliver what you want what we want "
- so does this mean YOU DO have inside info ?

U gorra larf !

Makes sense - wish I had those sorts of worries (don't really, mine already in minimal tax wrappers - which is why I don't think about such things anymore).
For those that can, it would be best to transfer as much as possible into an ISA while the price is low as the investment will be shielded from Capital Gains Tax when the sp rises.
There is info on Bed & Isa (a virtually instantaneous sell/buy, for the cost of a single transaction) in our wiki.

Are we seeing a touch of FOMO today? Almost 10%.

I still think Wed is most likely for news. Will it be an update or conclusion of FO? Will it be HRZ news? Will it be both wrapped in an updated presentation?
No idea. I just think DW will air it, giving the market a couple if days to absorb the content befire the AGM - been wrong before though !

Between them 88e + Bex are as near as dammit to the 500k maximum holding - but being separate companies, they could potentially still double their joint acreage. It may be a bit academic though, as a 3rd player will shortly join the party.
I know PB's part in this venture has been mentioned this week, and I also recall that his executors are committed to funding an educational foundation in his name - maybe the new party will take over the Bex leases. Just a thought! It would have added an extra layer onto the negotiation though.

Meant to add, none of the companies innvolved are based in UK in any case.

Been there. The Tax Year only applies when money changes hands. The contract date is not important in that respect. We could have staged payments to maximise capital allowances (no idea if they apply though).

Don't think DW will take ut to the wire, but because he likes to manage expectations, I suspect we will get an update next week - possibly with info on the HRZ analysis and an FO update. Wednesday would be my guess - so FOMO could kick in anytime.

When we were in "exploration mode" the PoO had little place in valuation/ sp. But as we are now in "selling mode" the PoO is much more relevant although it is not so much todays price, but rather the 10-year average price. Todays price, and its direction of travel will however influence the estimation of a 10-year average, so there is a value in keeping a watchful eye on the price (but not both eyes, as there are other factors at play).

Although news could come any day, I think middle of next week is more likely. We have already had a stop-gap Rns so no need for DW to put anything out in a rush.