Member Info for myfirstmillion

So LR leaves BZT and CB leaves EUZ, maybe they just don't like each other ;) or maybe there's more to it...
re. shareprice we're at what looks like a support zone to me so will either rebound from here or possibly drop a fraction more just to test the support, either way with the spread, games and lack of liquidity I doubt you'll get them much cheaper.
Interesting that they explicitly mentioned EU funding, as folks have commented would be a spectacular own goal to mention it in an RNS and then not get it so maybe they've had the nod. Interesting times across all my shares atm having trouble keeping up!

Things are starting to get interesting around here...

BB the lack of an updated broker note I find baffling. A hell of a lot has changed since the last one was released. They may want to keep their cards close to their chests when it comes to plans but with work thats already been done and that has surely added value what better way to let the market know that there's a real disconnect between shareprice and true value than with an updated broker note that puts it out there in black and white. If I was LR I'd be insisting upon it.

That was my point Shed, release the RNS or equivalent for the JSE because that market was behaving completely irrationally and that would have had a calming effect on the LSE but maybe wouldn't have blunted the rise so drastically.

Personally I didn't see any need for an RNS regarding price on the LSE, the JSE rise probably did call for one but some people were on here clamouring for one and if the management read these boards as I'm led to believe they do then that could well have influenced them, i would hope not though. I would have issued it for the JSE and left it at that. As far as it went though they did set out a series of reasons that if you're reading between the line did say 'we know of blah blah blah but we're massively undervalued and really with whats been achieved and what's to come we really deserve to be rated higher than we previously have been'

Does anyone know how that EU funding might work, I mean is it a loan or a grant, are there strings attached or is it purely a stimulus package that says if you employ local people and end up paying taxes here's some cash to get things moving? And to what level might funding be attributed, getting the resource moved on a bit or given that we've talked of a starter pit with near surface high grade metal, might they fund us till actual mining? I doubt anyone can answer these with any degree of certainty but maybe someone can shed a little light. EU funding that didn't require us to give up any equity would be probably an even better outcome than an outright immediate sale as the value enhancement for shareholders would be huge.

Shed BB actually said his breakeven price is 80p not 70p. I don't know if he has this correct or not and he doesn't sound too sure himself. I know how it can get very confusing trading in and out of a position and with the passage of a long period of time. I put considerably more in to EUZ and my book cost equates to just under 57p post consolidation. So I do think maybe BB has possibly worked his breakeven price out wrong but I don't think there's anything malevolent about it maybe just confusion. I've been wildly out in the past with other shares after trading and over time so I know it is easily done.

Dollars I presume Bricks?

Chart has massively improved. We closed above the 200 DMA for the first time this week since January 13th and held a close above it till the end of the trading week. Perhaps more significantly we also closed above the 50 WMA. Where we spiked to was a previous support level back in 2018. I fully expect the price to make it's way back up to that level over the following 1-2 weeks.

I would say mid next year is the more cautious timescale. That slide shows construction taking roughly a quarter. So if final approval were to land in say Q3 20 we could see initial gas sooner. At least we now have a range from say Q1- to end of Q2. My gut feeling is probably around the start of Q2.

Regarding Jamaica, no news is good news is the old adage and because we had those investor calls I'm fairly confident of good news landing next week. Whether it will be an extension to the negotiation period or something better is the big question...

Cheers Oiltap.

The markets are having a correction today so we're actually holding up quite well atm. Won't be selling any here till we're in the pounds bracket. Or if we're doing the mining ourselves I'll probably just keep these for the dividend.

Oiltap you're correct about going after the high grade stuff initially. What I can't remember is whether where we're open at depth and to the East, may this also contain high grade metal or is this known to likely be of a lower grade?

Only one thing I want to say and that's before selling your shares make sure you do even a rudimentary calculation as to what this company is worth. Back in 2018 we had an NPV of $110 million it's fair to assume that given all the work that's been done, given the increased tonnage into both indicated and inferred categories and the rise in metals prices that that has increased our value fairly substantially. So pick a figure convert it into pounds, divide by the new number of shares in issue and that's ya ballpark figure for fair share price value. i only put it in these terms for the less experienced investors that we seem to have quite a few of. I can see the way the JSE rise has been commented on and how excited it's got everyone which is understandable but if you start seeing large percentage increases here remember what the company is ultimately worth, remember what each one of your shares is worth. It's easy if you're say 100% up to want to grab the profit but you'll kick yourself if they then go on to multibag and if this turns out to be a sale that's what they'll do, coz fair value is in the pounds not pence.

Bricks, 30% is, I believe the answer to your question.

Not sure about that Bebeto with the two investor calls tomorrow. If there's been some agreement and something signed then they could comment. Hopefully that's what it's about otherwise it's a strange time to have them 2 days before the licence expires. The negative alternative is that the licence will expire and they want to try and shore things up by reiterating how good Egypt is but I favour the first option is more likely given how the chart looks.

I don't know what's going on but I know it's caught my attention. As has the fact that no one from the company is commenting on it.

I echo those sentiments on timing. I owned 75,000,000 shares pre consolidation, now 150,000. Still down 85% even after yesterday's rise. Need about 57p to get out breakeven. I know that's possible if they don't dilute further. This is why I stayed. If we get a JV or buyout I still could even make a few bob but right now breakeven would seem like a massive win. Lesson learned.

Just a quick comment as it's not on topic but giving everyone a mask sounds great until you think about it rather than just blurting it out. First off you'd need around 70 million full respirators no small task. Then you'd need 70 million people all to wear them for the full 3 days if they're outside or around anybody else. What about eating out? Working? Non conformists? Medical exemptions? Communicating with one another!?

So let's say someone pays for 70 million masks. Everyone wears them for the full 3 days or could it be longer? Some experts have said the virus can live on certain surfaces for much longer.... Anyway forget that we've done it we've killed off Covid in the UK. Phew. Ha on a cotton picking minute! What about er the rest of the world? Right so we stop every commercial, business and recreational flight into or out of the UK. Done. But what about uk nationals currently abroad who want to return later? What about when flights do have to resume to get vital medical and food supplies into the country? What about if we want to go on holiday say a year from now? So now we have to have masks for about 8 billion all wearing them for at least 3 days. Sounds like a job for the very capable TG and the Tlou team! Should be a piece of cake. I reckon full virus destruction is imminent. Just like our funding.

https://youtu.be/FFyrTEl5LOs

I wouldn't worry about options when the shareprice is way below the option price and the chart don't exactly look like we're about to take off! I'm not pumping more money into this until I see some progress and by that I mean at least the interim PPA and / or some long term funding solution. This saga just drags on and on year after year.