Member Info for myfirstmillion

I think you missed the point Shed, the idea seems to be to annoy WAI to exert pressure on our management. I don't think anyone expects them to give us information about the PFS I certainly don't.

I've been saying on several other threads over the last six months that I believe a lot of money has been sucked out of AIM and probably many other markets and put into Crypto and it isn't just small investors or those looking for a thrill far from it. Huge sums of money are now in the Crypto space, trillions of dollars. With many institutions involved, so any idea that it's just another tulip bubble for me is gone now, there's too much private equity at risk. Also many central governments are now looking to introduce their own regulated Crypto currencies to try and compete. I'm not personally involved as yet but I do intend to get involved in the next 12 -18 months.

cjen much appreciated from me too, my question is this.

If you're raising money to buy an asset, how did you know how much to raise if you aren't sure what metal you want to go after, aren't sure which country you want to operate in and don't know how much a target might cost?

Also with time taken for effective due diligence isn't there a danger of the money running low once again before a suitable target has been identified or ending up with a sub par asset simply because of the time / money pressure constraint?

Boris doesn't know what he's doing because he's an idiot. His only interest is self interest, or helping out his cronies.

Surely that would be printed as two trades with two separate timestamps and at slightly different prices?

I've said all along I wouldn't add to this losing position and so far that has proven to be prudent. These old sayings like 'never add to losers' 'let your winners run' 'cut your losses' etc. all have validity because they've been proven wise over the test of time to either make or save you money.

If you're in hold but for God's sake don't add. If you're not in it's a gamble at best with no declared strategy for Toral and no declared strategy to buy another asset other than something in demand somewhere in the world.

I don’t think they've set a timeline for funding whizzer but I'll be very disappointed if it doesn't turn up this month let alone before Christmas after the PPA taking so long.

I got an email today from my broker reminding me that voters have the power to vote on company resolutions and apparently how easy it is via the broker. Quite timely I thought lol. I'll be investigating the process when I get a bit of time and can confirm that I will be voting NO to all 6 resolutions unless we get something from the BOD between now and the AGM that makes a bit more sense of this mess. If there is any issue then I will happily give my proxy to cjen.

I still think there is either a jv or outright sale lined up for Toral as nothing else makes sense including institutions topping up.

Teaye72, thx for that. Unfortunately none of that fills me with any confidence at all.

Is it the number of new threads you're starting?

Some interesting replies. Yes I could well be kidding myself and grasping at straws. I'm fully aware of that. If I am completely off the mark with the sale or jv (with someone else operating Toral) then as far as I'm concerned we're done for.

Why? Because the placing rns and subsequent interview were appalling. How the hell can you raise cash firstly without having a proper plan for Toral that states that it is definitely funded to PFS. Secondly why not use the cash to take it to BFS? Or we'll into it. The worst part is the complete lack of focus when he talked about half a dozen metals and 4 continents where we might invest! That basically says that they've done zero due diligence. So factor in time to decide what metals you're looking for, which continent you want to invest in then time to actually find a company and then do the DD and what if it shows that it's not as viable as you first thought? Back to the drawing board wasting x number of months to locate another company all the while burning through cash. This plan is the definition of insanity!

No one and I do mean no could surely be this stupid. Which leads me back to my hunch. There MUST be a sale or jv of some sort for Toral. If there isn't then the whole board should resign immediately it's as simple as that because nothing else make any sense.

Ok so I've just watched LR's interview. More of the same old same old no surprises there. Waffle waffle, faff, metals, countries waffle waffle. Don't really say anything. This guy should definitely be a politician.

Now for the point of my post. I see two possible scenarios here, one is terrifying and the other could be very good.

First scenario they're doing exactly what they've said and are looking to buy another asset somewhere around the globe that has some metal that is or could be in demand. Extremely vague and concerning given that we don't have a PFS for Toral, we don't know if the PFS would be fully funded once an acquisition and general working expenses are taken into account and if it is funded then what do we do with it? On top of all that if we do buy another asset how much is it going to cost to get that to a minable outcome? All utterly preposterous and terrifying if you have a large chunk of cash stuck in this.

The second scenario is that something big is going on that isn't ready but obviously can't be disclosed yet. A sale or JV of Toral through to mining. The more I think about it this is actually starting to make more sense. It's the only option that makes any sense!

Let's look at the evidence for the second scenario. The guy they brought in to do a corporate deal, nothing announced as yet but we haven't heard that he is no longer contracted. Buying another asset, could this be because a jv partner will be acting as operator for Toral so they want to be proving up another asset or because Toral is sold outright? Then we have LR's 'value event' comment. Finally institutions buying into this placing and the large open market buys since the announcement.

I have no idea but the first scenario seems absolutely bonkers to me and makes no sense whatsoever. The second does make sense, as I said it is THE ONLY idea that makes sense. After having had a day to reflect my hunch is that a deal of some sort has been done for Toral, it is only a hunch and maybe I'm grasping at straws but I hope for all our sakes my hunch is right.

What an absolute shower of **** Myself and Bobby Beal had LR's card marked 3 years ago. I've stayed quiet for the most part but have on occasion reiterated my thoughts on LR. Bobby was much more vocal but was not listened to (sometimes less is more BB ;) rather than repeating ourselves action was what was required. Action to get rid of these jokers who believe they are fit to run a public company. Bricks if you call for a vote of no confidence I'll support it. Can I backdate it, say about 3 years :))) That shows how wretched this bunch are that I'm not even angry anymore, it is no less than completely expected that we'd get reamed once again. No concrete strategy, no pressure to raise the shareprice in advance, massive dilution, huge discount, no clear plan ahead and the guy running this **** show is a complete muppet.

I wouldn't pay too much attention to simply wall street as far as I can tell it's all computer generated which won't take into account things like the Hydrogen / Carbon jv. That should make TLOU profitable before the 3 years mentioned.

It seems amusingly Ironic to me that someone who has tried as hard as you have over the years donkey to try and wind holders up actually gets wound up by Brad. There is definitely some poetic justice there somewhere :))))

smiller another resident wally. 1 share wonder. Here for what reason? All I can see is a bit of an arse that likes to try and gloat while promoting another company. Bought one share so you think that justifies you spending nearly as much time here as Quack-a-day, the way you salivate over his every word I'm beginning to wonder if you're his fluffer.

Back to the serious stuff... Mr. T he isn't a donut maker that gets done by another 'very important department' Quack-a-doodle-day just makes the holes in them. Still a 'very important job' mind ;)

Quack-a-doodle-day I see you've gone into overdrive today wetting your pants about a fund raise that is a surprise to err absolutely no one lol. You've posted God knows how many extremely lengthy self important posts in your usual style and no one gives a toss mate. You're like the resident nutter with the megaphone banging on about Jesus that no one listens to. About time you was getting back to your 'very important job'. That still makes me laugh.

I think they'd rather spend the money on an acquisition 02B, some good opportunities around. Get those boepd figures up (plus reserves) while oil prices are high.

The PPA was and is critical to unlocking finance that is obvious. You can't drill further to increase gas flows without cash! That is logic right there Brad.

Now we have the PPA I'm sure funding will follow in fairly short order as has been indicated. Then we can get to work on the transmission lines and more drilling if required. Drilling and dewatering whilst the transmission lines are being built would seem to be the most efficient use of time would you not agree Brad?

This really interesting bit (for me at least) is the tie up with Synergen, will they be able to use some of the $10 million to get that up and running? If they can achieve early revenue from Hydrogen / Carbon then the pot can be topped back up. If it really takes off there may not even be any need for the second $20 million tranche of funding further down the line? All interesting possibilities.