Member Info for ManxKippers

Apologies all. I have been travelling and only managed to read the letter re the EGM this morning. I now fully understand and please excuse my last post. The raise in the future is limited. This limited capacity to raise just under £5 million at some time in the future obviously suggests a JV strategy over a self developed 100% owned mine.

That sits fine with me.

Unless you call an EGM to change the articles to allow a massive raise.....

Thank you, NoGauld.

Therefore, for 100% ownership, they would have to do and massive raise of say $150 million, against which they may also borrow. Does WSBN already have any debt, anyone?

Our Holdings may be diluted by say 66% or so if that were the chosen path.

The deal that Riversgold achieved with MAGA for the Kalgoorlie field was 50% of the shared income, with recoverable income on costs for MAGA. No cost to Riversgold.

Therefore, with a sweeter and much bigger potential here, they may achieve a better deal on a JV with someone like MAGA, meaning we may lose 40% pr 50% of future profits but we wouldn't have to fund, raise or dilute.

It is a JV deal that seems to make more sense to me....

The real question is "How much does it cost to create a proper mine and cover the costs for all of the initial set up and mining before reaching the target zone?"

WSBN are doing shallow investigations too, similar to Riversgold venture at Kalgoorlie. Is the plan to shallow mine the low hanging fruit to generate enough income to blast the shaft down to the desired rich seems of gold to the rich depths as shown in the hoped for assay results?

To me, these hypothetical options are not that important. The fact they are doing what they are doing and that DL has buttoned his lip, suggests this is bigger than big and the assays are off the chart re their finding of gold.

DYOR. I am in and will acquire more shares.

Yes, British_Mike. But would the huge magnetic anomaly be showing if our domestic was full of coke?

IMO, the board knows the results. They are positioning the company for the next stage of development. This probably will include a stock consolidation and probably a listing on a US exchange too.

I sense the appetite to go for it, retain 100% and do a raise coupled with a capital loan to fund this all. It may be a JV, as DL managed for Riversgold. We will see on that one....!

However, DL very we connected and pulled that JV together wwll and out of the blue.

Can he do the same here.

No doubt in my mind that the results of the assays are quietly known by the board. This is huge, I believe, and perhaps one of the world's biggest deposits ever found. We will see.

EGM will be for an announcement of the scale of this, probably a share option scheme and a JV.

Big big big news coming. Shockingly big, IMO.

AIcommand - DL is referring to his Riversold results. MEGA mining are the JV partners for that prospect. So technically not relate

It's like watching Fred Dibner light his fire and hears the joists creaking under the old factory chimney being demolished. Fred has got his horn out and is honking it as a warning that the main event is almost upon us.

Soon, ladies and gentlemen. Very very soon...!!

Well....wasn't that fun?

Can't wait for the bomb to go off!

Big correction, long overdue, likely to be coming imminently with crashing markets. Reporting says we are on the verge now.

MATD in a good place. Hold on, this could get a little scary overall but hopefully not too bad here.

Put your life vests on folks!

Someone asked whether Gobi was covered by the 3D sysmic survey done by PC?

I asked upstairs and the answer is No. That survey ends further North. But Gobi does have a 2D coverage though which is meant to be quite good.

We will have to wait until 2026 for that to play out..!!

MATD sp not do8ng badly today, looking at the collapse of AI sp's!

Taken in context of today's market, I am not displeased at all.

Curiously no mention of Sunsteppe/renewables and no mention of Farm Out progress...!!

A solid step forward, but not a huge leap.

That is good news that OPEC+ have paused their planned increases of oil production. Firming up the price level for crude.

All useful.....

Lovely, DL! I totally believe you. Red Setter is going to be hugely massive!

Drop us the first assay results, WSBN, to back it up and make it official!

It is time.....!

Don't worry about the share dilution.

Own shares against the total shares in issue.

I have 1.35% of the company which I will not now sell. I would like to add another million or two if the sp doesn't run too far too soon.

We will see...! My pension fund will be great and plentiful thanks to MATD!

Doc - if you patted the dog and were a little kinder to it, it would reward you with friendship, joy and rich rewards....!

Got that Doc.

My point is the RNS will have a lot more than H2 in it and there is too much good for it to be a damp squib. Therefore the price will go up further.

And then, after all of these bits and pieces, the Farm Out deal lands......!!

Nope, Doc!

The Gazelle RNS with the H2 and news of the sorting out of the retained 30% monies and the Sunsteppe updates means it will go much higher again!

MATD will be self funding - so no more raised and income coming in over the winter.

And then you have the Farm Out on top....!

Sorry, but even if I drive nails into my eyes and sever my ear drums andcut out my tongue, I would still understand the stupidity of denying this!

That is an interesting statement - Tenbag. Thanks for that.