Member Info for Morningsun

Tiburn,. So the rig is still onsite. Interesting as this never showed in the images Skittish posted did it. How is that possible?

Also, if the rigs is 'a bag of spanners', why on earth would you want to risk your one asset being damaged by this cr@p.equipmemt. At best you get a good drill, but that should be your base case result anyway shouldn't it.

I really hope they are not that dumb.
MS

Well Irish, I'm glad you're going. Hope you can send us a report of the proceedings....
MS

Tiburn, I agree on most.
I am not a fan of q&a unless DS is committed to the truth and refrains from spin and loose promises. Been there, seen that. Just see my post history to determine which CEO of a mining company I'm referring to.

To add a point, I do think they have the explain what really is the matter with 103C. How on earth did slb get that plug wrong. Not good.

MS

This is from the Schlumberger (SLB) website. Goes to show what can and will go wrong with cement plugs, especially when mud is involved. This might simply be what happened (mud contamination causing reduced CS) and this is why we are seeing oil seeping through.

http://www.slb.com/resource-library/technical-paper/ce/spe-168005

It also states that the cement plug need to be good to be able to do a side track from it.

MS

Thanks News,
Two comments on your research:
1. The grades at telfer do not seem to be very high. There is a lot of it which makes it good but it does fill me with hope for HV being commercial given what we have seen so far. Even if the grades drop substantially there is still a very good chance.
2. What happened with HV with the release of the 6 to 9 holes is that there was a lot of speculation and people started selling just before the results and that continued afterwards. Unfortunately it happens and it will haopen. Again. AIM rule no 1.
Even the JV with NC could not stem the tide. On the other hand, if you look at where the SP was last year we have made a lot of progress! Time will be our friend.
MS

Thanks Wasred/TomE. That doesn't show my full posting history. I had already tried that route previously. It actually leaves out several years of posting.
MS

Isas, you can of course just ignore the past because you can't change it. However, you have to look at track records of management to know where and how things can develop from here. I think Angus is spot on and from the looks of it I'm not alone.

Whichever way you look at it, AP is a liability as a CEO and we will never get clarity on quite a few things that PI payed for. That is what is making this such a hard investment. There are posters who tend to blame everything on RP but that is too easy as the trucks and the 1 mln raised for Zim and never got explained had nothing to do with him.

Anyway, I really hope this comes good now and AP actually delivers on his promises but what is that saying again about leopard, something with spots....

MS

Spy, anything is possible in business. It all depends on the local tax regimes I'm sure as to what construction works best. NC already have their own BD but are not as succesful in Oz as GGP is.

One way or another I would want to make sure that NC profits from the success of GGP at the lowest cost possible. I'm starting to believe that the best route to achieve that is to incorporate them in some shape or form.

MS

Well TomE, I wish that too. In the past I did calculations on GGP with reference to Miramar which led me to believe we could get to 60p. Miramar got to 154p based on 50M Oz.

Not saying it WILL happen (as it implies that we would have some 20M Oz and we would see a similar market condition to facilitate the rise, which are all possible of course) but I think the multitude of targets and the success rate of GGP will certainly get us up a long way. Unfortunately I cannot even access my past posts anymore to check them. No idea how that works...

MS

I have no doubt about it PG. Getting more and more excited about our future and how it may play out.
MS

GGP is proving vast to be very good at identifying good gold targets to develop.

If I was the NC executive board I would have a serious think about why these guys are so good at it and maybe get them incorporated in their own exploration. That is expensive I'm sure as GH would not want to give his future upside away, but with the hit-rate GGP is developing it might very well be worth it for NC, being an Australian miner and all.

It will prove cheaper to incorporate GGP now than having to compete for the targets/company with other interested parties once these targets are proven up further (i.e. think of paying the extra 5% at full market value they negotiated for HV and still having to give away 25% of anything that you produce for from HV that you dig out yourself anyway).

Lots may be happening in the near future and the news about the other targets for the last weeks is only helping us getting more and more attractive.

MS

PG, GH says 'hopefully' we'll have a lot more to update.
MS

Apple, that reads like a novel doesn't it.

Black hills/Saddle reef showing high grade gold nuggets at surface and an anomaly of 1000 m in length below the surface to match the nugget discovery.

The grades are just off the scale. Can't wait for what is actually there.

MS

Well,.that makes 28 useless posts of 31 then lol

Listened to this again tonight.

Lots of talk and ifs and buts but in the end, they are not IPO ing the company so going for the CPR was the wrong decision and could not be completed.

Realised this and went for the CPI and the re entrance of 103C.

Rig is in Africa, negotiations almost finished. No mention of funding.
Expects SNPC to pay their share of the first drill campaign and then ds expects to be able to renegotiate thei SNPC share as they cannot afford the ongoing development cost.
MS
Time will tell.

https://www.proactiveinvestors.co.uk/companies/stocktube/13934/anglo-african-oil--gas---proactive-s-oil-capital-conference-june-2019-13934.html

it was 2 mln mt indeed PG. High grade Gold mt.

The key to my post was that fussing over the amount of money NC spend on drilling is almost irrelevant compared to their need to find high grade gold to deal with the Telfer operator and hence the Telfer plant future. They will throw everything they have at finding more gold so I don't get the obsession with their spend.

They need gold as much (if not more) as we do.

MS

Thanks for posting Knokke. Interesting read.

The part to like is that CS apparently are seeing a case for 2 mln Oz of high grade gold per year from HV to be mixed with the 9 mln low grade gold from telfer. We only have to prove it's there and we're happy bunnies ;-)

What is less likeable is that the operator of Telfer is losing money. No business in their right mind is going to continue to lose money, especially when they expected something entirely different at contract signing. In my view that is a liability and needs to be solved or it will solve itself...and that may not be in anyone's favour.

Now how will it be solved I ask you. The only way to solve it is to give McM a deal that makes it worth their while to continue.

MS

At the bottom of the page you can change to desktop view. Much better on mobile than whatever the other version is called.

Please do yourself a favour and stop connecting procedural requirements like an AGM with business progress like the plan to drill the side track at 103.

They are only connected by the company name, not the progress of field work.

Yes we would all like to have the detail and indeed this RNS is taking the p!ss. But the pressure from this BB on the BoD to communicate something is relentless and then you do get this nonsense as a result.

When the production plan is ready it will be revealed. Until then we have to wait, but hoping that the plan would be revealed before the AGM today is setting yourself up for a disappointment.

That is the reality. So I'm not surprised they have not revealed anything just before the AGM as to me these are disconnected.

MS

'his change from raising funds on a plan and then changing it once the cash is in.'
---------------------

That is exactly what I mean. You're implying AAog changed their mind on the basis of receiving money.

I tend to think they changed their mind on the basis of actual field information as in oil from the Djeno flowing to the surface.....

I would be very cross with the BoD if they had ignored the oil flow from the Djeno, had not consulted with experts and then decided to go for the Djeno.

I too initially thought going for the mengo first would be better, but I don't have the full picture. None of us do. So, we have to trust the management to do the best thing. That is what they are there for, maximising shareholder value.

As I said if you don't trust the management then in my view it is not investible. You wouldn't give your money to i.e. just any crooked expensive car salesman, would you, just because he or she says I've got nice cars?

MS