*Snott; Did I f***!!! Watched crestfallen as £52k @ 20p slump down to just over £4k @ 1.8p and resigned myself to losing that too. I’m not sure we’ll get back to 20p until a partner has been signed up but I’m certainly happier today than yesterday :) Maybe we’ll get to have our ‘Pound Party’ after all....
*Positive Vibes; I think there’s plenty to pick holes in here if you’re a research based investor. Still the same BOD’s minus Larry, Lixus no further along In its development cycle since acquisition, letters of interest are miles away from solidifying debt, costs of further development to qualify debt finance will need a fundraise or industry competent partner, (this would also serve as independent third party verification of Lixus), in-house geo team perennially wrong, and a couple more if you want to be picky. However, this is an absolute diamond for speculation. If we accept that all thing being taken at face value, Lixus could take Chariot to the moon and stars. But as with any speculative stock, sales will always act as a brake.
RE: 5.05 paid - this is about to take off26 Oct 2020 16:12
Another 30% and I get to even, stevens! If no news by then, that’s going to be a huge judgement call. Unless it’s flying and it’s then Wheeeeeeeeee! Never thought I’d get excited about this old ship again. :)
I think what it highlights also, is how much Chariot were struggling under Larry to monetise anything. It seems we’re still at the very embryonic stage developing Lixus. Which is were I believed we were up to the point of Larry being binned off. I’m actually starting like the new, more honest approach of the Chariot Board. Which begs the question, ‘why did they let it get to such to an abysmal state?’ I couldn’t care less if we’re not as further forward as previous RNS’s would have us believe. New broom sweeps clean and all that... I said I’d give the new set up until Xmas/year end before I start critiquing and I’ll stick to that. Most posters know I’m concerned about our cash position but if I’m wrong, there’ll be none more pleased than me.
Depends on whether you’re a realist or not. EML has great potential but so did the Utah development and from the article, it also appears to have been granted beneficial tax breaks. The major point here is how difficult it is to achieve high level financing in the Covid world of today. Financiers and creditors have the jitters. On the flip-side, if the BoD’s do manage to pull this off, it’ll be all credit to them.
Goon, before you mentioned the Hammers I thought it was a bad dream. Had to go online to check... :( Antonio tore us a new one, that’s for sure. We’ve gone soft! The issue we have here Goon is that it’s all or nothing. We get news of partnering and this flies, way past 8p. We get no news and the share price just sits here, bobbing about like poop at the seaside.
Oh my god....Aarghhh!!! Right, you just written it. They’re working on reducing the annual costs, that’s ANNUAL COSTS from $4.5m to $2.5m. Check my posts but I believe that’s when I started becoming more positive. Now, regardless of the cost cutting measures, however welcome they are, the board have spent nearly the ANNUAL budget in six months. What is it that’s making this difficult? I get that they have completed preparatory works for Lixus. It all costs money but therein lies the issue. Chariot have no financial commitments but they still need to continue these preparations if they’re to acquire a debt partner/creditor. So it’s no good saying ‘we have enough money to last two years with no financial commitments’ as work on Lixus is on-going.
That’d be nice Goon. Whimax, I accept you want to be Mr Positive but Chariot have nearly burned through in six months, what they have stated previously as a years budget. Fair play if you’re not concerned with that, a fool and his money...and all that. I guess you can’t remember the $6m write down which wasn’t declared to us punters. We only found out after I noticed the cash in bank balance didn’t tally with my ‘calculations’. I even got grief from PM for that as he thought, as you do now, that I spout nonsense. I’ve yet to be proved wrong yet in the six years I’ve been here. I’ve only ever said what I see but you carry on slinging insults and singing lalalala with your fingers in your ears if you like. I’m not ever going to ignore what’s there in black and white for all to read.
Oh dear Whimax. You’ll spin anything, wontcha? How are my calculations wrong? Have they not burned $4m in six months? How can you sit there with full confidence that the $5.8m will last 30mths? I’m assuming of course that when you say two years, you mean from the 2020 year end? You can close your eyes and cover your ears all you like but that cash burn rate is alarming.
Cash balance 30th June $5.8m. So they’ve burned $4m since 1st Jan. Even in my most pessimistic projections for year end I had them at between $5-5.5m. So then, projecting to year end 2020, Chariot will have less than $4m... sweet Mary and Joseph! A deal needs to be signed and quickly!!!
The ‘what a crock’ was the inference that this is long term only. What gives anyone a right to tell others why or what or how they should view their investments? Who made you guys budget Warren Buffets :D