Member Info for luckyman2

I would guess its a placing about to happen.
Price .2 at a guess.
Big investors got news of this and have been selling their current holding knowing they can get back in at .20 . imo
No other reason to have dropped so quick especially after such good news on monday.

Hope we have a better day today.
Big seller now gone so should hold above .20p imo

I still think that rumours of us doing a placing is what is holding us back.
Untill RBD issue an operations update of West Newton work programme i think we will stay in the low 20s.
How much money do we need to pay our share of 2 further wells plus testing and 3D seismic ?
Untill we know the costs we wont know how much we need to raise.

For the SP to drop so quick and far there must be a placing as i cant think of any other reason for the drop. imo

So did I
Will get more tomorrow if still under .21

This is massive no doubt about that.
https://twitter.com/BrokermanDaniel/status/1194373903407308803?s=20

We need an operations update from our slick operator Rathlin .
Hard to believe we are all sitting around waiting on news.
EWT looks like it will be Q1 next year before we start although Reabold were saying Q4 this year .
once the work programme has been decided then the fun begins

Remember ujo are spending £100,000 p/ Month on wages ,overheads etc. so 2.6 mil which we had back in July is dwindling away every month.
We probably only have £2.5 mil left in bank . imo

There is usually a big drop as well just before a placing which we have seen the start of yesterday. imo
Will it drop further in the next few days?

Do we have enough funds to pay our share for 3D survey and 2 further wells?

Dont think we will see the EWT this Qtr
More like Q1 next year.

The only reason i can think why the SP has dropped is that we are doing the rounds for a placing.
Institution are selling because they know they can come back at a cheaper price but i could be wrong.

Probably selling so can get back in cheaper if we do a placing

Fairview

I think the SP is been held back due to rumours of a placing.
We will at some point need to raise funds to pay for our share of more 3D seismic and drill 2 more wells.
Our share for all planned work could be 3 + mil . imo
Cant think of any other reason why the SP could be stuck at this low undervalued level.
-

https://www.brrmedia.co.uk/broadcasts/5dc593cc34a3cf1389e83c89/reabold-resources-west-newton-update

No mention of EWT
Might be going straight onto drilling 2 new wells in Q2 at earliest.
Could be a long wait if that's the case . imo

Strang how EWT was not mentioned.
Are we going straight to drilling 2 new wells?
Q2 at earliest for 1st well.
Could be a long wait for results. imo

Atound 12 weeks to construct Newton B 1 pad but that will be after they finish the archaeology dig.
So might not start drilling till late Q2.

The big problem is that Rathline dont seem to tell us investors very much.
All news seems to come from various sources bit by bit.

They cant start preparing B1 well pad before they carry out their archaeology survey.

https://drillordrop.com/2019/11/08/study-of-ancient-village-needed-before-work-starts-on-rathlins-new-well-site/

Could this be the hold up?