Member Info for LUCAN

Thanks for the good news. Your determination is an example to us all.,

I would be interested to hear why you believe the seller is now out.

Pretty miserable prospect either way, isn 't it? You can freeze, or die coughing.

Almost half a million shares sold in two transactions just now, a shade over 4.20. Cannot really be a sell-to-buy-back, wouldn't make sense with news coming. So who's the determined seller? Any ideas?

50k in three sales

'.. assuming no major negative shift ..'
- That's the point, isn't it?

I hope you're right.
But if they don't post a decent profit this year, they never will. No room for excuses.

The question is, will BMN actually post a profit for 2023? They didn't in 22, did they?
Until they do, you have to expect investors to be sceptical.

If anybody's interested, I believe his name is/was Andy Leach. His last post here was dated 13 August 22, nothing since.
A search of online funeral records shows that Andrew John Leach died in an Exeter hospital 11 November 2022, aged 54.
The family details do not match, just a brother, nothing about African princesses, if you believe that. However, the date and the silence are suggestive. May he rest in peace, whoever he was. 54 is too young to die.

But does 'certain senior secured lenders' mean all such lenders? or only some of them? i.e. is this NewGen making sure it's at the head of the queue? It's all very strange.

'we are still hopefully mining again full steam tomorrow' - maybe, but who is 'we' in this context? Not the shareholders, who as you say are likely to end up with nothing, or next to.
Seen from NewGen's perspective, this has to be seen as a hostile act. One must therefore presume they were not going to cooperate with a restructuring, in spite of the emphatic views of some posters here.

I think the point is, someone had to put up cash to keep the pumps running, or else the mine is dead. Whoever did so, wanted to be sure the major creditor could not just grab it. It's a sad story.

Won't be a takeover offer here until and unless finances are stabilised, i.m.o. After that, maybe.
Nobody wants to buy a pig in a poke in the present climate.

Funder says that if there is a problem, etc., 'it is prepared to consider a waiver' of the covenant.
That is a long way short of a commitment.
Just look at what happened to e.g. DDDD. You cannot mess around with covenants.

'Fully maintained' should mean the pumps are still running. Thank you, publican.
But I would hazard a guess that the supplies needed include diesel (or whatever) for same.
Looks like a high stakes standoff, clock ticking.

Have they turned off the pumps?
If they have, that's goodbye. If not, maybe not.

I don't see any answers from geologists to your pertinent 7.38 post. I am not a geologist, but surely it is clear they don't know how far the mud layer extends. If they knew it was just another few feet, surely they would have gone on drilling. They stopped because they don't know. Not enclouraging.

Is there a connection between PRD and Pantheon (PANR) ? (apart from being in the same business, broadly). Excuse my ignorance.

I don't know if the following, from the Guardian, relates to your problem, but might be worth a look. Best wishes for 2023.
'Robert Glynn is now cancer-free after participating in a clinical trial of immunotherapy to combat intrahepatic bile duct cancer. Photograph: The Christie NHS Foundation Trust/PA
Helen Pidd North of England editor
Fri 30 Dec 2022 00.00 GMT
A man given a year to live after being diagnosed with an aggressive form of cancer is now disease-free thanks to a UK trial of a personalised drug regime.

Robert Glynn, 51, a welder from Worsley in Greater Manchester, said he “wouldn’t be here” if it were not for the remarkable results of the immunotherapy trial run by the Christie NHS foundation trust in Manchester.

Glynn was diagnosed with intrahepatic bile duct cancer a day before his 49th birthday in June 2020, after experiencing severe pain in his shoulder, which left him unable to sleep.'

Thanks. Still seems to me it would be more satisfactory, and probably quicker in the long run, to give the MHRA whatever details they require about the trials. If it's all above board, the records should be available; if not, then why not?