Member Info for mcfcnige

Management need to deliver now.
They need to get a project over the line instead all the podcast hype and then disappointment .

its the history of disappointments that is starting to worry me.
first we had Southport, this was announced early 2020. they were confident of financial close and first revenue at the end of 2020. fell through as they couldnt reach agreement with the landowner.
then Burwell, again confident of financial close but again fell through.
now its the Peakers, is it bad luck or just shocking bad leadership ?

It’s really disappointing how the Peakers deal has turned out but we should have seen it coming.

Don’t be surprised if Mambare is now subject to a long delay.
The RNS mentioned that PNG are entering a period for the national elections, sounds to me like they are getting in the excuses early, as I can’t see this being finalised until it is known who is in charge.

No one has mentioned the election in PNG, will this effect anything?

I think SK has a lot of explaining to do.
I have mentioned in other posts the Dec podcast that he did we he mentioned Financial close Dec-Jan for the Peakers. We now know that was never going to happen as there was no agreement with the landowner.
Surely with this type of project, that’s the first thing you get sorted?
I think the board needs to be strengthened and someone with experience of getting projects over the line to be appointed.
SK has all the knowledge of the assets but needs some help with the this side, maybe then the market will take us more seriously.

Is it worth continuing with FGS, 3 projects have now bitten the dust?
Something that hasn’t been mentioned so far and that is PNG national elections.
If there is a change in leadership, will they be supportive?

Hi MH, I am a City fan :-)

Hi MH, I am investor here but I am very cheesed off, this is why I am vocal.
We have significant delays on each project and no explanation.
Last May I saw Scott do a short series of videos for Shares Mag, it was stated on there that Burwell would be finalised “ very soon” we know what happened afterwards.
Now we have what looks like the same situation with The Peakers but again all we are told is that the date has been pushed back, it’s really poor comms from the BOD.

Hi Rocklawn, just Google Corcel Southport and you will find the info.
These delays are very frustrating .

First the Southport project, then Burwell and now the Peakers.
All have had ongoing delays and not reached Financial close.
You can understand 1 project falling through but 2 maybe 3?

Same thing happens on each project again and again and it’s never there fault.

Market hopefully finding a bottom over the coming days.
Let’s see how the sp reacts when the market is going back up?

Does anybody know how much the debt is and how much they are looking to pay off this year?

Sorry you are incorrect.
The financial close is Dec21-Jan22
Scott said so in the podcast:-) :-) :-)

How long is drilling expected to take?

I appreciate your post Mike but I am not whining, I just want an explanation from the company.
The CEO did a podcast in Dec where he stated a deal was nearly done “ we hope to have it done in Dec but might slip into Jan” or words to that effect.
Now as we all know, that never happened and there was no explanation why?
If he hadn’t stated that on a public platform ,then no one would have expected progress within this time frame.

I don’t think me or anyone else is being unreasonable in asking for an explanation of the situation?

I think the board is being a bit hard on Yrabs, he is just frustrated just like we all are deep down.
I am a very patient person but what disappoints me is the constant missing of timelines and further delay on every project.
Yet when SK does one of his podcasts, he just glosses over it and gives himself a pat on the back for supposed progress?

Something doesn’t seem right with this Peakers situation, he was extremely bullish in Dec forecasting financial close early in the new year and 6 mths on total silence.
We deserve to know, what is going on?

I really hope I am wrong but The Peakers situation is playing out just like Burwell?

That post made me chuckle..
at least with a PB you have a slim chance of a win :-).
Joking apart Align must be disappointed, they predicted healthy news flow that would be good for the sp and it hasn’t happened .

This delay is rather concerning?
I think the company owe us a detailed update on Avonmouth.